I use both Dixon and Riley to study for economics however some of the graphs in the Riley textbook are pretty confusing and don't show up in the Dixon textbook, eg. inflationary/deflationary gap, fiscal policy and budget outcomes (which looks especially crazy). At school we use the Dixon textbook (with occasional Riley handouts) so my teacher hasn't mentioned these graphs so I was wondering if they could be tested on or are necessary in the HSC exam.
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Tim Riley Graphs (1 Viewer)
- Thread starter Treedom
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Riley tends to have graphs that are useful for demonstrating an "extension" type knowledge of the subjects.
However you should double check with the syllabus http://www.boardofstudies.nsw.edu.au/syllabus_hsc/pdf_doc/economics-st6-syl-from2011.pdf plus your teacher which graphs that you need.
However you should double check with the syllabus http://www.boardofstudies.nsw.edu.au/syllabus_hsc/pdf_doc/economics-st6-syl-from2011.pdf plus your teacher which graphs that you need.
GeorgeYLin
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In my experience doing HSC papers, graphs that are not mentioned in the syllabus are not directly assessable. But they can add depth to your essays. Especially the Keynesian 45 degree line model (infl/defl gap) to show the multiplier effect (eg in an essay about fiscal policy).
acehsccoaching
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The syllabus only mentions demand and supply graphs (Year 11) and the Lorenz curve (Year 12) in respect of graphs that you "need to know". Generally speaking Economists use graphs as a "framework" to explain economic concepts. In practice Economists use these kinds of models for EVERYTHING because having a discussion in the abstract without establishing a defined relationship between variables (e.g. price and quantity, income and output etc) based on a theoretical construct means you have nothing to back up your statements other than assertions.
This is why it pays to have an understanding of the graphs in the Riley textbook because it provides you with an "anchor point" for the vast majority of topics and reflects very strongly (as mentioned above) on the depth of your response and your grasp of economic concepts.
This is why it pays to have an understanding of the graphs in the Riley textbook because it provides you with an "anchor point" for the vast majority of topics and reflects very strongly (as mentioned above) on the depth of your response and your grasp of economic concepts.
In regards to the graphs you actually need to know and understand required by the syllabus
Topic 1
Tariff, Subsidy and Quota Graphs
Topic 2
Demand and Supply graph for Exchange Rates, also know the fixed exchange rate graph
Topic 3
AD/AS model (simple one, not the keynesian one) - cost push and demand pull inflation graphs
Lorenz Curve
Social and Private Cost Externality Graph
Optional: Demand and Supply for Labour Graph (i've seen it tested in a multiple choice maybe once)
Philips Curve (again, multiple choice)
The rest in the dixon book is pretty much there to add depth to your essays