Main Generic Economics Extended Response Questions? (1 Viewer)

[school4nerds]

Hi,

I'm struggling to study for the extended response part for hsc economics. How are people preparing for this?

I was thinking maybe write essays for the main generic questions/ all possible questions that can be asked.

Does anyone have a list of possible questions that would be beneficial to write practice essays for? Could you please post them below?

Thanks

 

[RishBonjour]

faar lool, a lot of people memorise essays for eco - I finally believe my teacher.

Well if you do want to - or some "generic one" (I don't think there is one for eco, 18 chapters, all linked, they could ask you really stuffed up ones), it would be good to practice one on environment, could be a big thing this year. and maybe one on labour. But defs practice one on fiscal and monetary too, they tend to pop up often.

but imo, you can almost guarantee yourself atleast a band 5 by just remembering points for each topics which can you easily elaborate in tests (unless you get really nervous and start panicking - happened to me once).

good luck!


edit:

thinking about it, if you really do think you will struggle in exam to write an essay, you could maybe write a few paragraphs on effect of Fiscal policy/ monetary policy and EACH economic issue?
but this will obviously be time consuming and may only score you a few extra marks

 

[Kieran95]

There are none really, you pretty much have to know everything.

 

[MasonT]

Ill be upfront - there is NO way POSSIBLE to remember essays and pre-plan economic essays!!!! These essays can be based around any topic, as each topic have their own extended response sections to them (as opposed to other subjects like legal, where your options will only be extended). Here are some, what you would call 'generic' topics that the extended responses may be on:

The Global Economy:
- Process and Impact (of Globalisation: Costs and Benefits - Development, Income Distribution, Environmental Sustainability)
- The Case Study (Impact of globalisation, strategies for growth and development)
- Free Trade and Protetion (NOTE THIS IS LINKED WITH AUSTRALIA'S TRADE POLICIES - TOPIC TWO) (Free trade, advantages and disadvantages, Protection: Reasons for, methods)
- Trading Agreements (International Organisations, trading agreements, blocs (Role, influence and purpose)

Australia's Place in the Global Economy
- Globalisation (NOTE THIS IS LINKED WITH EXTERNAL STABILITY - TOPIC THREE) (Impact on Australia's trade and financial flows BALANCE OF PAYMENTS, Causes of external stability, policy response)
- Exchange Rates (Factors affecting our exchange range, and impact of changes in our exchange rate on the economy)

Economic Issues
- Economic Growth (Sources, costs/benefits, role of policies)
- Unemployment (Causes, impacts, policy solutions)
- Inflation (Causes, impacts, policy solutions)
- Distribution of Income and Wealth (Causes, Impact of, Role of policies)
- Environmental Sustainability (NOTE THIS IS LINKED WITH ENVIRONMENTAL MANAGEMENT - TOPIC FOUR) (Ecologically sustainable dev, externalities, market failure, environmental issues, policies, regulations, market based solutions, international agreements)

Economic Policies and Management
- Macroeconomic Policies
- Fiscal Policy
- Monetary Policy
- Microeconomic Policies (Rationale, Regulation and deregulation, Competition Policy, etc)
- Labour Market Policies

Hope this helps you in your extended responses!
P.S: Make sure for all policies that you understand their implementation and impact and their current role in the policy mix! They will combine with other topics and issues so be careful!