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This is from the Syllabus. HSC: Topic Three - Economic Issues.
Well no actually what was in your test is quite different from the HSC course, certainly in terms of the actual reference you have just provided. MPC, leakages and injections etc are principles that are explored in the preliminary course.
The major difference, and it is quite a significant difference, between the HSC and Preliminary courses is that the preliminary course is heavily focused on principles of economics, whereas the HSC course is all about the application of those principles within the real world.
In this sense the focus of the questions would be quite different. By way of example, the preliminary course is likely to ask something like 'calculate the MPC' whereas the HSC course is more likely to ask 'With reference to household savings, examine why Australia consistently records current account deficits'. Both questions deal with the concept of MPC, but as you can see are extremely different in nature.
I guess the HSC course builds on the preliminary course in the sense that you need to know the principles in order to inform your analysis of these concepts within the real world.
Personally I believe that the mix is poor and that the HSC course does not have enough regard to the principles of economics and that the balance should be at least 50/50 (principles / practical application) whereas now it is more like 25/75. So to that extent, enjoy the preliminary course while it lasts!
