So its all over...

[mckinnonmb]

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How did you all go?

I thought it was quite easy. Just a quick question I was unsure of was the last SA question about NFD and public sector borrowing, what sort of responses did you write? I thought for what I wrote about it was not worth the 4 Marks allocated to the question, but I could not think of much more to write about.

1. Define NFD
2. Discuss the effect of budgets on NFD (borrowing)

Could you talk about the effect that the government borrowing to fund the stimulus package, having an effect on private sector borrowing, as business confidence returns, private sector borrowing increases.

Hope everyone went well.

[Kirsty Xx]

What are you looking at studying at university (if that's your plan)?

[mckinnonmb]

Yeah I do plan to go to university.

I am looking at doing Bachelor of Business (Banking and Finance) at Monash Caulfield. My general feeling from the exams that I have done so far, I will make that.

[Kirsty Xx]

Economics in high school is not quite like that of university. Are you great at maths? You'll need to be since you'll be doing university level statisitcs. What's the ENTER score?

[mckinnonmb]

I am pretty decent at maths, and am doing maths methods. Around a B+ student, definately not an A+ genius kid Maths is a bit of a struggle for me, I don't "just get it" like many others.

Last year it was around 83.45 or that.

My prediction for raw study scores:
Accounting: 35-37
Methods: 32
Psychology: 37
English: 40+
Economics: 40+

I just have methods part 2 left as far as exams go.

I assume you are doing Economics at university? I really enjoy the subject in Year 12, and am generally quite good with picking up on economic events/situations and would classify it as my favourite subject. So, how does economics in uni differ from high school?

[psych09]

Originally Posted by mckinnonmb

How did you all go?

I thought it was quite easy. Just a quick question I was unsure of was the last SA question about NFD and public sector borrowing, what sort of responses did you write? I thought for what I wrote about it was not worth the 4 Marks allocated to the question, but I could not think of much more to write about.

1. Define NFD
2. Discuss the effect of budgets on NFD (borrowing)

Could you talk about the effect that the government borrowing to fund the stimulus package, having an effect on private sector borrowing, as business confidence returns, private sector borrowing increases.

Hope everyone went well.

I simply defined NFD for 2 marks. then i simply discussed that a deficit budget funded for the GFC will be aimed at increasing consumption which will increase investment as a result. Businesses will look to invest in interest rates overseas at a higher rate for a higher return on investment, Nfd will increase from these repayments having to be paid. hard question.

[psych09]

Originally Posted by mckinnonmb

I am pretty decent at maths, and am doing maths methods. Around a B+ student, definately not an A+ genius kid Maths is a bit of a struggle for me, I don't "just get it" like many others.

Last year it was around 83.45 or that.

My prediction for raw study scores:
Accounting: 35-37
Methods: 32
Psychology: 37
English: 40+
Economics: 40+

I just have methods part 2 left as far as exams go.

I assume you are doing Economics at university? I really enjoy the subject in Year 12, and am generally quite good with picking up on economic events/situations and would classify it as my favourite subject. So, how does economics in uni differ from high school?

bachelor of business was around 82.8? from the top of my head. thats 2nd preference for me behind marketing/managment double degree of 87.5

[psych09]

can anyone post the answers to multiple choice or did everyone have there booklets taken?

[Kirsty Xx]

Originally Posted by mckinnonmb

I am pretty decent at maths, and am doing maths methods. Around a B+ student, definately not an A+ genius kid Maths is a bit of a struggle for me, I don't "just get it" like many others.

Last year it was around 83.45 or that.

My prediction for raw study scores:
Accounting: 35-37
Methods: 32
Psychology: 37
English: 40+
Economics: 40+

I just have methods part 2 left as far as exams go.

I assume you are doing Economics at university? I really enjoy the subject in Year 12, and am generally quite good with picking up on economic events/situations and would classify it as my favourite subject. So, how does economics in uni differ from high school?

I've done Microeonomics and Sustainability in Global Business, plus I have to do Macroeconomics next year. High school economics is quite broad - I'd say it's more like a foundation to university economics. I'll assume you'll have no trouble next year because you've completed economics in Year 11 and 12. It's a little difficult to explain but essentially economics in university is quite intricate - more graphs, theories concepts (you'll know what I mean once you experience it for yourself). But like I said, you've got a good foundation to begin with by doing high school level economics. Perhaps, keep your high school textbooks just in case (it can dumb things down which helps).

And as a tip, I suggest purchasing various statistics textbooks other than the prescribed text - if you "don't get it" I swear statistics is the one subject extra textbooks will help with!

[randommegaloman]

Did anyone else get confused by the MCQ on balancing the budget? I couldn't work out if it was over the short or medium term and they're totally different things!

[Ronyx]

Originally Posted by psych09

I simply defined NFD for 2 marks. then i simply discussed that a deficit budget funded for the GFC will be aimed at increasing consumption which will increase investment as a result. Businesses will look to invest in interest rates overseas at a higher rate for a higher return on investment, Nfd will increase from these repayments having to be paid. hard question.

i discussed crowding out, and how running a deficit will most likely be financed by overseas borrowing so as to not cause crowding out, resulting in an increase in NFD. not sure if i approached it correctly, but i had to do it in 5min before the end.

[andrew4443]

Originally Posted by psych09

can anyone post the answers to multiple choice or did everyone have there booklets taken?

Heres my multis, still not sure about the GDP question (Q5) and I think I may have done a mistake on question 1 as well
Q1 B Q2 A Q3 C Q4 A Q5 A Q6 C Q7 D Q8 A Q9 C Q10 A Q11 D Q12 C Q13 A Q14 C Q15 C

[krumper]

a. An increase in demand for fruit and increased prices
b. An increase in supply of fruit and decreased prices
c. A decrease in demand for fruit and decreased prices
d. A decrease in supply of fruit and increased prices

Answers D

-------------------------


a. -$15bn, and the balance on current account is -$70bn
b. -$35bn, and the balance on current account is -$70bn
c. $15bn, and the balance on current account is $30bn
d. $35bn, and the balance on current account is $90bn

Answers A

MrWood.com.au: VCE Economics

[psych09]

Originally Posted by krumper

a. An increase in demand for fruit and increased prices
b. An increase in supply of fruit and decreased prices
c. A decrease in demand for fruit and decreased prices
d. A decrease in supply of fruit and increased prices

Answers D

-------------------------


a. -$15bn, and the balance on current account is -$70bn
b. -$35bn, and the balance on current account is -$70bn
c. $15bn, and the balance on current account is $30bn
d. $35bn, and the balance on current account is $90bn

Answers A

MrWood.com.au: VCE Economics

how about the gdp multi? and what others were relatively hard?