Statistics!! (1 Viewer)

RNN-A-MUK

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i was just wandering are economics students supposed to know alot of statistics for the exam? the text book i have is a Tim Riley one it has little explanation and a shit load of statistics any alternatives that anyone cud giv me instead of this book?

Thanx
 

ScottyG

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Statistics help. They are more important in the essays than in the extended responses, although a casually dropped in statistic in a short response can help flesh out your answer.

For Band 6 and high Band 5 responses you should use some statistics. For example, if you were to be asked an essay on unemployment, knowing the current rate of unemployment would be essential. Knowing the rate of unemployment for particular geographical locations where unemployment was noteably high in the 1990's (i.e. Queensland, Victoria) is not so essential. However, knowing that statistic, provided your description and/or explanation was sufficient, will only improve the quality of your answer.

Statistics tend to have the effect of justifying your answers. For example 'A high Current Account Deficit can lead to a situation known as capital flight, whereby a drop in investor confidence results in large volumes of money being withdrawn from an economy, potentially trigger a major financial crisis. *This effect can be seen in the events leading up to the Asian Financial Crisis of [date] which resulted in [stastistic] la de da*.

It's just a bit of extra knowledge that says to the marker 'Hey Buddy, I know what I'm talking about and I deserve those goddamn marks' etc.

As for a book that doesn't rely heavily on statistics, try Leading Edge economics.
 

RNN-A-MUK

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but seriously u seen the tim riley book i swear i was just tryna write notes but u cant man it dusnt explain nefing jus maybe one sentence definition den d rest bullshit statistics and graphs wats up wif dat shit?
 

Riviet

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Yeah, Riley does use alot of stats, usually to make the point in that paragraph. You just have to filter through it if you're looking for the actual theory.
In relation to statistics, I've noticed that in the last few years, they have included a short extract from something or a table of stats or a graph showing something over a period of time with questions, particularly in short answer and extended response. I think it's because the marker's have commented on the fact that some students have memorised essays and stats and just regurgitated them in their extended responses. This has led the examiners to include stats in the question so the student can refer to the information given to them to support their essay, instead of having students provide their own statistics in their responses.
 

ScottyG

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RNN-A-MUK said:
but seriously u seen the tim riley book i swear i was just tryna write notes but u cant man it dusnt explain nefing jus maybe one sentence definition den d rest bullshit statistics and graphs wats up wif dat shit?
lol, that sentence made me laugh
 

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