General Thoughts: Economics (1 Viewer)

[atargainz]

essays were actually alright for me, I did the eco growth and macro policy combo. Which ones did everyone do?

 

[aanthnnyyy]

OH MY GOD. I realised I said hidden unemployment increases unemployment. Fucking idiot.

 

[Ekman]

OH MY GOD. I realised I said hidden unemployment increases unemployment. Fucking idiot.

That's correct, but only on one condition. Hidden unemployment will increase the unemployment rate if and only if there are good economic conditions incentivising them to seek for work, otherwise the hidden unemployed will not affect the level of unemployment, as they are not seeking for work.

 

[teridax]

essays were actually alright for me, I did the eco growth and macro policy combo. Which ones did everyone do?

fuck yea, I did the eco growth and macro policy combo was well

 

[lpodtouch]

How many pages were your responses?

 

[milkytea99]

Short answer and MC were extremely easy. I finished with 2 hours left for the extended response. The only thing I fucked up was the final extended response for 27/28. Fucking only wrote 3 pages. FML Acually, both extended responses were hard as fuck. I did 25 that was mediocre. I wrote 7 pages for that but I knew I could have done better. I was in rush mode. 27 and 28. I knew jack shit about both. Ffssss throughout all my eco years, it's the extended response that ass fucks me. fuck uuuu. I also didn't have time to draw graphs. ffsssss. fking hell.

/rant
I admit MC and short answer were harder this year, but i didn't give a fuck because if you studied, it was fucking easy.

Same... I wrote like 9-10 pages for question 26, and then q27/28 only 4 pages wtf.... Gg band 6
I can't believe the extended responses were so hard this year. I was expecting at least a bop/cad essay or exchange rates

 

[Freyo]

Found the MCQ and short answers easy as well. Yes, very different to previous years but still doable. Only question that was retarded was the international division of labour one. Anyone knows what the answer to that was? In saying that, I ran out of time for the extended responses included graphs and stats but it was a bit all over the place wrote like 5 pages for one and 3 for the other

 

[iStudent]

What were the essay questions?

 

[teridax]

my thoughts: the paper was okay, MC was eh, but I feel like the short answers was something that would've threw a lot of people off if they simply rote learnt the content as opposed to actually understanding what's going on, which is a good direction for the eco papers as you can't fully rely on cramming your notes and expecting to do well lol.

How many pages were your responses?

11 for section III and 12 for section IV

 

[lpodtouch]

My hand hurts. Did anyone pick the role of international organisations/trade agreements?

 

[snail489]

omg the multiple choice was so difficult for me wtf. Or maybe I'm just retarded or something.

Anyone care to tell me what you selected for these questions?
1, 5, 6, 7, 8, 12, 14

 

[aanthnnyyy]

Found the MCQ and short answers easy as well. Yes, very different to previous years but still doable. Only question that was retarded was the international division of labour one. Anyone knows what the answer to that was? In saying that, I ran out of time for the extended responses included graphs and stats but it was a bit all over the place wrote like 5 pages for one and 3 for the other

I linked int. divisional of labour to migration + globalisation. I.e brain drain effect and stuff

 

[teridax]

Same... I wrote like 9-10 pages for question 26, and then q27/28 only 4 pages wtf.... Gg band 6
I can't believe the extended responses were so hard this year. I was expecting at least a bop/cad essay or exchange rates

bop/cad is still connected to external stability tbh, so you weren't fully restricted - it was all about flexibility, and that's something you can't do with prepared essay plans (as mreditor rightfully said before)

I linked int. divisional of labour to migration + globalisation. I.e brain drain effect and stuff

OMG YES I DID TALK ABOUT DAT SHIT AS WELL

 

[snail489]

What were the essay questions?

Q25 "Discuss the continuing role of microeconomic reform in achieving Australia's economic objectives."
Q26 "Analyse the changing sources of economic growth and their effects on the Australian economy."
Q27 "Discuss the contributions of international organisations and trade agreements to global economic growth and development."
Q28 "Analyse how macroeconomic policies can be used to achieve external stability in the Australian economy."

 

[Ekman]

omg the multiple choice was so difficult for me wtf. Or maybe I'm just retarded or something.

Anyone care to tell me what you selected for these questions?
1, 5, 6, 7, 8, 12, 14

The only one I remember is question 1 and 14. For question 1 was prevention of dumping and question 14 was D.

 

[xavier_eales]

I thought it was on the tougher side relative to past years.

Multiple Choice: Took some thinking. Many questions involved "which answer is MORE CORRECT" rather than "which answer is OBJECTIVELY CORRECT".

Short Answers: Unconventional, but I was quite happy with them. Pymble Ladies' College asked a case study environment question in both 2014 and 2015 trials, so their school would have smashed that question. I also thought other interesting questions were: policies to reduce the budget deficit on income distribution, methods of financing budget deficit on interest rates, AUD/US exchange rate effect on inflation (this would've thrown some people off because it was measured in reverse to how it's usually seen), factors which contribute to differences between nations (heavily favoured Dixon textbook users), international division of labour. I think this would have challenged a lot of the state.

Essays: Super predictable. Micro, growth, international orgs and external stability (albeit with macro policy) were all overdue. I think the state would've performed relatively well as a result.

Anyone with thoughts on a raw B6 cutoff? I don't really know my proportions and so wouldn't be able to guess.

 

[iStudent]

Q25 "Discuss the continuing role of microeconomic reform in achieving Australia's economic objectives."
Q26 "Analyse the changing sources of economic growth and their effects on the Australian economy."
Q27 "Discuss the contributions of international organisations and trade agreements to global economic growth and development."
Q28 "Analyse how macroeconomic policies can be used to achieve external stability in the Australian economy."

Thanks!
Those questions seem fairly straightforward.
I think I all these questions were listed as part of the predictions thread Drifting made. If you followed it, you should have aced this

 

[camdaman12]

multiple choice: got fucked
short answers: got fucked
essay: got fucked
90+ dream: fucked

 

[snail489]

The only one I remember is question 1 and 14. For question 1 was prevention of dumping and question 14 was D.

fk i think my mind mustve exploded on q14, I realise now I picked something entirely wrong

5 was about foreign aid (capital or net secondary??)
6 was about increasing efficiency of domestic industries to improve international competitiveness - increase/decrease import quota and subsidies
7 was the combination of policies (fiscal and monetary) where they gave the stats for growth, inflation and unemployment
8 - automatic stabiliser during an upswing (I'm guessing it was either income or company tax but idk which one to pick)
12 - environmentally sustainable method for recycling soft drink cans question

 

[malcolm21]

Guys i wrote rba prints money for the financing budget on interest rates question. it drives down interest rates right? i had to guess it in the moment