CSSA Economics 2009 (1 Viewer)

[ijaz101]

Do developing economies have average growth rates?? Coz according to the website, Beyond 20/20 WDS - Language Selection, Developing economies have an average growth rate of 7.3% p.a. Meanwhile, Developed economies have an avg. rate of 2.5%... I should also note that Transitional economies have the highest avg rate of 8.2%. So then it is developed economies that experience average growth rates.

I didn't get any marks for that question coz I read it wrong (probably coz I got 4hrs sleep the night before) AND i read it as the characteristics of a "Developed" nation. But anyway, my friend wrote that developing economies have high rates of growth because of what he read in the textbook and because our notes which mention the UNCTAD website said that developing economies have much higher rates of growth.

So I'm just a little confused as to why he wasn't given any marks for writing that (and so is he for that matter). Our teacher said that he will explain it more clearly after we had gone through the whole exam but he didn't. And now I'm seeking your help Zak.

Cheers.

 

[Zak Ambrose]

after some research yes, on average developing countries have high growth rates than developed countries.

he should have gotten a mark, but it might be too late now? [i dont know anything about appealing internal marks etc]

 

[bmn]

My notes say that developing countries are basically third world countries... Their average rate of growth may still be higher then most developed, but that is because of the much lower starting point, and many would have low, or even negative rates of growth. So without the word "average", its clearly wrong.

The "higher rates of growth" comes under Newly Industrialised Countries - China is a NIC, not a developing country (at least in my textbook).

 

[tku336]

He shouldn't have gotten a mark for an answer which isn't correct all the time.

I'm pretty sure Sudan qualifies as a 'developing' economy.

 

[ijaz101]

after some research yes, on average developing countries have high growth rates than developed countries.

he should have gotten a mark, but it might be too late now? [i dont know anything about appealing internal marks etc]

I think you're right in that its better to go with answers that are obvious and definite, i.e. developing countries have lower per capita Y etc...

Also, "bmn" - our textbook says that there are only 4 NIC's, namely Singapore, Hong Kong SAR, Taiwan, South Korea. It says on several pages that China and India are developing economies. So such examples are poor examples because they are ambiguous. So let's agree that we should avoid the "High rates of growth" answer.

AND finally, "tku336" - I wouldn't say that they wouldn't give a mark for a partially correct answer... Like if the "high rates of growth" answer applies to some economies, then that makes it correct. The markers are looking for anything that'll get you a mark, NOT looking to deduct marks for answers that are partially correct/incorrect. Either way, I'm gonna avoid that answer, because there are better answers.

P.S. I would categorise Sudan as a 'Going deep into the shits' economy, coz it's clearly not developing.

Thanks for your help guys.

 

[blaze.bluetane]

had this argument with my teacher as well.

Apparently in economics the word 'developing' is not to be confused with the verb 'developing' as in becoming developed, so developing economies should be described in terms of low per capita y, lack of govt, dominantly rural export base, low SOL and QOL etc. I wrote low but increasing levels of development and low but increasing per capita incomes and low but increasing production levels and was awarded 0. lol...s/a=38/40.

 

[Zak Ambrose]

had this argument with my teacher as well.

Apparently in economics the word 'developing' is not to be confused with the verb 'developing' as in becoming developed, so developing economies should be described in terms of low per capita y, lack of govt, dominantly rural export base, low SOL and QOL etc. I wrote low but increasing levels of development and low but increasing per capita incomes and low but increasing production levels and was awarded 0. lol...s/a=38/40.

that's rough. but im sure you're gonna get a high band 6 anyway

 

[J2good4u]

with CAD/BOP what did it ask, for anyone who has it now and online