Eco predictions/thoughts (20 Viewers)

[bruhmoment.]

what is everyone expecting this year? hoping international orgs will be one of the essays

 

[jn3238291]

I think there is a possibility of IO or FTA for topic 1 here are muy predictions though:

T1: IO / FTA or Global changes
T2: AUD / BOGS / external stab
T3: UE
T4: MICRO

Can count on it there will be no case study esssay Q but you'll see it as a 6/5 marker definitely

could be all wrong but lol

 

[sweettripmafia]

They often ask environmental for short answer.

 

[Zimmins-R-Ponnins]

I looked at the history of HSC economics extended response questions, and I think there'll be at least one economic policy on economic issues question, and something to do with free trade and protectionism, and maybe something to do with external stability or balance of payments

This is going to look horribly, horribly nerdy but heres the data I have to support this estimate, from the past 8 years of HSC economics estimates
(collecting data is easier than studying)

Policies impact on Economic Issues / Objectives

• One or more every single year since 2015 - 17 total
• 4 years had at least one per question

Economic Issues

• 3 included ‘Economic Policies’
• 4 included ‘Macroeconomic Policies”
• 2 included “Microeconomic Policies”
• 1 included “Fiscal Policy”
• 2 included “Monetary Policy”
• 3 included “Labour Market Policies”

Issues / Objectives

• 2 included “economic objectives” (but not since 2017)
• 6 included “Economic Growth”
• 4 included “Price Stability” or “Inflation”
• 4 included “Unemployment” or “Full Employment”
• 4 included Distribution on income (or and) wealth
• 3 included “External Stability” (one as both options)
• 1 included “Australian Economy” (2016)
• 1 included “conflicts between objectives”

On average (excluding general or entire objectives, such as economic objectives, Australian economy), questions included 1.5 issues / objective

• 9 included one topic
  • 2 on environment
  • 2 on economic objectives / economy
  • 1 on economic growth
  • 1 on inflation
  • 1 on conflicts between objectives

• 6 included 2 topics
  • 5 included economic growth
  • 2 included unemployment, inflation, or distribution of income
  • 1 included external stability

• 2 included 3 topics
  • Both occured in the same year, both included external stability, income distribution

Trade, Globalization, Protectionism

• One or more every year except 2020

• 6 included Australia relationship with trade (such as impacts on flows, specific agreements, and impacts on objectives)
• 5 included Global Economic Growth (as a cause or effect)
• 3 included impacts of free trade and/or protectionism
• 2 included the impacts of globalization

BOP or External Stability (including exchange rates)

• 4 years, 50% chance

• 3 included the Balance of Payments or CAD
• 2 specifically referenced exchange rates (most implied / involved)
• 2 included external stability
• 1 included economic growth
  

China

• 2 years, 25% chance

So, yeah, totally nerdy but I would suspect that a economic policy on issues question and a trade protectionism question at the very least

 

[dwondwondwon]

I'm assuming we will be getting a monetary policy essay are some kind of macro essay

 

[livluu]

I looked at the history of HSC economics extended response questions, and I think there'll be at least one economic policy on economic issues question, and something to do with free trade and protectionism, and maybe something to do with external stability or balance of payments

This is going to look horribly, horribly nerdy but heres the data I have to support this estimate, from the past 8 years of HSC economics estimates
(collecting data is easier than studying)

Policies impact on Economic Issues / Objectives

• One or more every single year since 2015 - 17 total
• 4 years had at least one per question

Economic Issues

• 3 included ‘Economic Policies’
• 4 included ‘Macroeconomic Policies”
• 2 included “Microeconomic Policies”
• 1 included “Fiscal Policy”
• 2 included “Monetary Policy”
• 3 included “Labour Market Policies”

Issues / Objectives

• 2 included “economic objectives” (but not since 2017)
• 6 included “Economic Growth”
• 4 included “Price Stability” or “Inflation”
• 4 included “Unemployment” or “Full Employment”
• 4 included Distribution on income (or and) wealth
• 3 included “External Stability” (one as both options)
• 1 included “Australian Economy” (2016)
• 1 included “conflicts between objectives”

On average (excluding general or entire objectives, such as economic objectives, Australian economy), questions included 1.5 issues / objective

• 9 included one topic
  • 2 on environment
  • 2 on economic objectives / economy
  • 1 on economic growth
  • 1 on inflation
  • 1 on conflicts between objectives

• 6 included 2 topics
  • 5 included economic growth
  • 2 included unemployment, inflation, or distribution of income
  • 1 included external stability

• 2 included 3 topics
  • Both occured in the same year, both included external stability, income distribution

Trade, Globalization, Protectionism

• One or more every year except 2020

• 6 included Australia relationship with trade (such as impacts on flows, specific agreements, and impacts on objectives)
• 5 included Global Economic Growth (as a cause or effect)
• 3 included impacts of free trade and/or protectionism
• 2 included the impacts of globalization

BOP or External Stability (including exchange rates)

• 4 years, 50% chance

• 3 included the Balance of Payments or CAD
• 2 specifically referenced exchange rates (most implied / involved)
• 2 included external stability
• 1 included economic growth

China

• 2 years, 25% chance

So, yeah, totally nerdy but I would suspect that a economic policy on issues question and a trade protectionism question at the very least

This is going to sound so stupid but for trade/protectionism do you mean the impact of reduced protectionism/move to free trade impacts Australia's overall econ performance/econ objectives or the overall global economy (or both)

 

[pillow1210]

I'm assuming we will be getting a monetary policy essay are some kind of macro essay

i reckon the questions would align to the current AUS economy? so monetary seems very plausible

 

[Zimmins-R-Ponnins]

This is going to sound so stupid but for trade/protectionism do you mean the impact of reduced protectionism/move to free trade impacts Australia's overall econ performance/econ objectives or the overall global economy (or both)

Both (sorry) -
Australia relationship with trade (such as impacts on flows, specific agreements, and impacts on objectives), Global Economic Growth (as a cause or effect), impacts of free trade and/or protectionism, the impacts of globalization

 

[realjohnpork]

i reckon the questions would align to the current AUS economy? so monetary seems very plausible

I agree, i think they will do something about either recent monetary policy trends (so COVID, pre & post) and their impact on either the economy as a whole or maybe objectives (price stability, income dis - i think its more likely on the economy as a whole tho)

I think they will definitely have a micro/labour market essay tho

 

[tvskAXatar]

Guys does foriegn aid fall under current account or KAFA? Isn’t Australia providing foriegn aid a secondary income debit? Why do some questions regard it as a capital account debit?

 

[schoolisfun123456789]

I looked at the history of HSC economics extended response questions, and I think there'll be at least one economic policy on economic issues question, and something to do with free trade and protectionism, and maybe something to do with external stability or balance of payments

This is going to look horribly, horribly nerdy but heres the data I have to support this estimate, from the past 8 years of HSC economics estimates
(collecting data is easier than studying)

Policies impact on Economic Issues / Objectives

• One or more every single year since 2015 - 17 total
• 4 years had at least one per question

Economic Issues

• 3 included ‘Economic Policies’
• 4 included ‘Macroeconomic Policies”
• 2 included “Microeconomic Policies”
• 1 included “Fiscal Policy”
• 2 included “Monetary Policy”
• 3 included “Labour Market Policies”

Issues / Objectives

• 2 included “economic objectives” (but not since 2017)
• 6 included “Economic Growth”
• 4 included “Price Stability” or “Inflation”
• 4 included “Unemployment” or “Full Employment”
• 4 included Distribution on income (or and) wealth
• 3 included “External Stability” (one as both options)
• 1 included “Australian Economy” (2016)
• 1 included “conflicts between objectives”

On average (excluding general or entire objectives, such as economic objectives, Australian economy), questions included 1.5 issues / objective

• 9 included one topic
  • 2 on environment
  • 2 on economic objectives / economy
  • 1 on economic growth
  • 1 on inflation
  • 1 on conflicts between objectives

• 6 included 2 topics
  • 5 included economic growth
  • 2 included unemployment, inflation, or distribution of income
  • 1 included external stability

• 2 included 3 topics
  • Both occured in the same year, both included external stability, income distribution

Trade, Globalization, Protectionism

• One or more every year except 2020

• 6 included Australia relationship with trade (such as impacts on flows, specific agreements, and impacts on objectives)
• 5 included Global Economic Growth (as a cause or effect)
• 3 included impacts of free trade and/or protectionism
• 2 included the impacts of globalization

BOP or External Stability (including exchange rates)

• 4 years, 50% chance

• 3 included the Balance of Payments or CAD
• 2 specifically referenced exchange rates (most implied / involved)
• 2 included external stability
• 1 included economic growth

China

• 2 years, 25% chance

So, yeah, totally nerdy but I would suspect that a economic policy on issues question and a trade protectionism question at the very least

for BOP or external stability, what kind of questions would they asked since they did a size & composition of factors affecting BOP last year i think

 

[AWM]

Guys does foriegn aid fall under current account or KAFA? Isn’t Australia providing foriegn aid a secondary income debit? Why do some questions regard it as a capital account debit?

There are two different types of foreign aid. There is unconditional foreign aid which falls under net secondary debit which refers to financial resources provided without a specific G/S offered in return. There is conditional foreign aid which falls under the capital account debit which refers to foreign aid grants for SPECIFIC capital projects. As in, the money donated has to go towards a certain area.

The question you are answering should specify and provide more details about the circumstances of the aid.

 

[tvskAXatar]

Also, am I right here in these below statements:

An Australian company borrowing from a big overseas bank like UBS would initially be recorded as a capital account credit but eventually would become primary account debit as the loan and interest is paid back overseas.

 

[tvskAXatar]

I scored 75 on an unseen practice HSC economics exam at school under exam conditions and marked by teachers. What would this scale to if it were replicated in the real HSC? For reference it was the 2021 CSSA paper

 

[AWM]

Also, am I right here in these below statements:

An Australian company borrowing from a big overseas bank like UBS would initially be recorded as a capital account credit but eventually would become primary account debit as the loan and interest is paid back overseas.

No, it's part of the financial account under "other investment" which accounts for loans. The credit into debit is correct though.

 

[realjohnpork]

for BOP or external stability, what kind of questions would they asked since they did a size & composition of factors affecting BOP last year i think

I believe it was in a trial - but they could ask something along the lines of "Evaluate/Assess/Analyse/TWE do changes in either T&FFs or BoP specifically impact external stability.

Personally, I would answer that by saying how the BoP/T&FFS change (ER/inflation/IR diff etc) and then make a judgement on how it affects ES -> maybe a depreciation leading to increased debt servicing costs/worsening of NPY deficit leads makes it more difficult for Aus to service its NFL hence worsening ES

 

[livjdoqfhwofocih]

Hey guys, does anyone know how to find the answer to this question - I keep getting the financial account as -$285

 

[sweettripmafia]

View attachment 45363

Hey guys, does anyone know how to find the answer to this question - I keep getting the financial account as -$285

you have to include net errors and omissions into your calculation

 

[livjdoqfhwofocih]

you have to include net errors and omissions into your calculation

I thought I did - I did 476-102+F-89=0, which gave F as -285

 

[sweettripmafia]

I thought I did - I did 476-102+F-89=0, which gave F as -285

I think the question is wrong, it seems as if they've added the net errors and omissions to the financial account. However, I could be wrong.