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September 23, 2019, 06:51:07 am

Author Topic: HSC Economics Question Thread  (Read 67413 times)  Share 

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emilyygeorgexx

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Re: HSC Economics Question Thread
« Reply #675 on: May 15, 2019, 10:26:37 pm »
+1
When writing essays, in some topics, is it still necessary to use trends from the GFC to compare to recent trends even though it was almost 10 years ago?

Hey!

Sorry for this late reply. Yes, it is soo necessary to use trends from the GFC to compare to the trends today or even within the last 5 years. The GFC was probably one of the most catastrophic events that occurred within the global economy so it is always useful to see how it impact not only Australia's economy but the global economy as well as some of the policies that different countries may have adopted to move them out of the recession.

Hope this helps :)
HSC 2018 - (ATAR: 99.10)
English Advanced (90) | General Mathematics 2 (95) | Business Studies (98 - 6th in NSW) | Legal Studies (94) | Economics (93) | Studies of Religion 1 (48)

2019: B Commerce/B Laws @ UNSW

emilyygeorgexx

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Re: HSC Economics Question Thread
« Reply #676 on: May 15, 2019, 10:29:28 pm »
+1
I also have another question: if fiscal policy is contractionary, should monetary policy then be expansionary or contractionary to work well together?

I'm just really confused as to whether fiscal policy stance and monetary policy stance should be opposite to each other or the same, so as to achieve the government's economic objectives?

Thanks!

Hey Emily!

I think this would be very dependent on the data given in the question. This type of question usually comes up in multiple choice as a table form sort of question. So I would know what expansionary and concretionary monetary and fiscal policy are as well as the effects they have on the different economic objectives. This would then help you answer the question. :)
HSC 2018 - (ATAR: 99.10)
English Advanced (90) | General Mathematics 2 (95) | Business Studies (98 - 6th in NSW) | Legal Studies (94) | Economics (93) | Studies of Religion 1 (48)

2019: B Commerce/B Laws @ UNSW

violet123

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Re: HSC Economics Question Thread
« Reply #677 on: May 26, 2019, 08:06:41 pm »
0
Hi,

For the dot point on external stability
positive and negative causes and effects

I find that point really vague. I am not exactly sure what the causes and effects is talking about. Is it causes of external stability and effects on external stability. If I were to answer a question, let's use CAD for example, do I say CAD has caused external stability and CAD's effect for external stability?

Can someone clarify what I write for cause and what I write for effects.

Thanksss


violet123

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Re: HSC Economics Question Thread
« Reply #678 on: May 30, 2019, 09:29:09 pm »
0
What are some contemporary economic issues that Australians are facing?

gemma.hinton

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Re: HSC Economics Question Thread
« Reply #679 on: June 08, 2019, 08:02:10 pm »
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Hii I was wondering if someone could help me with some arguments for and against our current industrial relations system 

Thanks so much!

violet123

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Re: HSC Economics Question Thread
« Reply #680 on: July 12, 2019, 08:35:33 pm »
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I don't know how to answer this essay question:
Analyse the causes and effects of external stability.
This is a question from topic 3 economic issues.

Any advice on how to structure a response on this and how to answer this question would be greatly appreciated.

KingTings

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Re: HSC Economics Question Thread
« Reply #681 on: July 23, 2019, 07:30:20 pm »
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I don't know how to answer this essay question:
Analyse the causes and effects of external stability.
This is a question from topic 3 economic issues.

Any advice on how to structure a response on this and how to answer this question would be greatly appreciated.
Is this a short answer question? If so,
I would define external stability (the ability of Australia to meet its foreign debt and equity servicing obligations)
Explain the types of Causes - Cyclical (Exchange rates/international competitiveness interest rates etc.) and Structural (savings and investment gap = high foreign investment = debt and equity servicing costs on NPI, narrow export base etc.)
Explain the Effects and make a judgement on its significance: tarnished triple A credit rating = less investment (maybe mention pitchford thesis) = less economic growth and due to lack of investment to fund businesses etc.
Hope this helps a little!
HSC 2019
Business Studies - Economics - Physics - English Adv. - Maths Adv.

violet123

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Re: HSC Economics Question Thread
« Reply #682 on: July 30, 2019, 05:01:10 pm »
0
I need help on answering this question?

Discuss how a change in Australia's terms of trade can influence the exchange rate and international competitiveness.

violet123

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Re: HSC Economics Question Thread
« Reply #683 on: July 30, 2019, 05:02:28 pm »
0
How do I calculate GDP growth when I am given CPI and nominal GDP?
An example of such question is in the 2018 HSC paper in the short answers

DrewN20

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Re: HSC Economics Question Thread
« Reply #684 on: August 09, 2019, 01:32:53 pm »
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Hey Ppl,
year 11 student here,

In my text book it states "The RBA seeks to maintain the longer-term stability of the financial system by avoiding financial crises. This protects the deposits of members of the public, without actually providing a formal guarantee for depositors' funds

Can some1 explain this in layman's terms please!?

emilyyyyyyy

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Re: HSC Economics Question Thread
« Reply #685 on: August 13, 2019, 11:40:12 am »
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Hi can someone please help me with these questions! I really don't understand how to get the answer

Thanks :)

violet123

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Re: HSC Economics Question Thread
« Reply #686 on: August 17, 2019, 02:25:34 pm »
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Hi,
For economics essay question to analyse the effectiveness of policy. Do I need to talk about how the policy works?

meerae

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Re: HSC Economics Question Thread
« Reply #687 on: August 19, 2019, 06:13:49 pm »
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Hi,
For economics essay question to analyse the effectiveness of policy. Do I need to talk about how the policy works?

Hey Violet!
I would go into how the policy works briefly in like a paragraph, and make sure that you go into the limitations of the policy as well!

Hope this helps!
meerae :)
2018 hsc; mathematics
2019 hsc; english adv english ext 1&2 math ext 1 legal studies economics

HSC w/ a stresshead {class of'19}

Erynxyz

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Re: HSC Economics Question Thread
« Reply #688 on: August 23, 2019, 08:01:46 pm »
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Just a few questions:
1. Are prelim extended responses same as essays?
2. How many body paragraphs do I need minimum?
3. How do I integrate definitions to minimize words?
4. If my test includes 10 multiple choice, 20 short answer and 2 extended response in 2 hours, how much time should I allocate to each part?
5. I recently realised that the textbook doesn't cover everything we need for our exams so what other sources can I use to develop my responses?
6. Last question, how hard does eco get in y12?