Sections III, IV - Extended Response (2 Viewers)

[Rawf]

does this sound okay for Q 25 guys??


Talk about changing industry production.
- Moving away from manufacturing
- Moving away from Agg.
- due to the GLOBALISATION PROCESs
- removal of import tarrifs
- introduction of FTAs, SEATO
- Importance of WTO in promoting trade
- Talk about how that effects COMPARATIVE ADVANTAGE & OPPORTUNITY COST

Then refer to china Growing population and how they are sourcing us for education (for our eduction)
Education industry grow

More efficient Mining industry

and less based instudies under threat due Asian countries becoming more specialised and our appreciated exchange rate

Oh.. this is awkward. I didn't talk about FTA's >_>
I talked about deregulation and removal of protection --> we don't have an advantage in manufacturing and due to china and their cheap ass manufactures we can't compete.. however our productivity has increased
For agriculture i also talked about deregulation however due to the subsidies and other protectionist stuff in the EU/USA it forces down agricultural prices so then we have less export revenue and we're also less competitive --> slow down eco growth and stuff
For mining i talked about like structural change, removal of protection lead to resources moving to where most efficient, thus mining. So then i talked about china's growth and what not, the commodities boom. Then I accounted for the drop in mining exports during the GFC.

Overall.. I just looked at the stimulus and wrote based on that lmao

 

[mickstarify]

Scans of the Essay question

here it is, (sorry for quality, it is what it is)

https://dl.dropbox.com/u/5878722/economics%202012%20essay%20questions.pdf

 

[paddydbarry]

Sounds like we both did well bro. i only did 5.5 pages it all you need in an eco exam.

 

[freeeeee]

how many pages does not matter, some people write 13 words each line some people do 4

You should be aiming at 800 words+ though

 

[sillyboy44]

if I wrote about all the objectives except for environmental sustainability, will my marks be significantly impacted (I'm talking more than 3 marks deducted)? I wrote about fiscal, monetary, labour market and a pretty broad mirco paragraph, included a couple of conflicts and limitations too.

 

[paddydbarry]

No, confident that is you were perfect in other sections you could still achieve a top response. the paper did not say ALL objectives.

 

[cookeemonstah]

im so screwed didnt discuss external stability question 28

 

[asadass]

For 28 I talked about achieving economic growth (fiscal/monetary policy during the GFC), internal balance, external balance, distribution of income, environmental sustainability, and microeconomic reform.

 

[paddydbarry]

I did one paragraph on how australia maintains external stability while achieving other key economic goals based on the consenting adults theory and the pitchford thesis, didn't go into much detail just one paragraph thats all you need i hope.

 

[sillyboy44]

No, confident that is you were perfect in other sections you could still achieve a top response. the paper did not say ALL objectives.

Great, that makes sense. Thanks!

 

[Blocy]

I did case study too!
It was a pretty good question if you knew your stuff, but I see why people chose the alternative.

 

[WhatCnut]

Did the BOP question and the Case Study. For CAD I wrote about the mining boom, GFC, Euro Debt Crisis and Interest Rate Differentials and how they all affected the BOP. How come some of you say you didn't discuss global factors in it?

 

[will_]

Did the BOP question and the Case Study. For CAD I wrote about the mining boom, GFC, Euro Debt Crisis and Interest Rate Differentials and how they all affected the BOP. How come some of you say you didn't discuss global factors in it?

you're on the right track. these are the sort of stuff im pretty sure that we had to include

 

[Washy_182]

I did the balance of payments question, not my strong point, but I figured I could write more that the industry question...

Anyway, I talked mainly about the effects of globalisation and the int'l business cycle, while linking it to exchange rates and terms of trade, competitiveness which affect the balance of payments.

My only concern is that I may have jumbled some information up. Eg, I said one thing to mean something, but I actually got it mixed around. By how much will this affect my mark do you think?

 

[Bloodstriker]

Can different Extended response questions scale(or is it align? i get confused) differently, like in english?

 

[hpm]

Here's how I structured each one:

26.
- Fall in protectionism leading to the rise of Asia
- How this affected manufacturing/ agriculture
- Recent rise in exchange rates (also incl. how this affected man/ agr)
- Decline of services industries and retail due to high exchange rates
- Rise of mining and financial industry
- How these changes will affect Australia's industry in future

When they say refer to the stimulus, do they want you to literally say "in the stimulus blah blah blah" or just use the stats that are in it?

28.
- GDP growth
- Price stability
- Income inequality
- Environment (incl. how this conflicts with GDP growth)
- Unemployment

Unfortunately not enough time to mention external stability, how many marks will this cost?

I also thought the 2009 stimulus was $56.2 billion for w/e reason.

Mark predictions?

 

[wmatt223]

Good exam imo.
Structured 25 as:
-Quick description of BOP components
-International factors that impact BOGS (e.r fluctuations, terms of trade and Dutch disease, international and domestic growth, and talked about some recent trends)
-Repeat for Net Income (e.r fluctuations, international and domestic interest rates with debt servicing, business cycle fluctuations and talked about trends)
-Relate how these components are connected to CAD and KAF

 

[sylviasss]

does anyone have the paper?
Or post the essay questions?

 

[yellowchimera]

for question 28, i wrote about all economic objectives, but obviously being the self-destructive idiot i am, i wrote a whole paragraph about increasing productivity and how it's "a key economic objective"... what would the damage be like?

 

[mickstarify]

does anyone have the paper?
Or post the essay questions?

http://community.boredofstudies.org/showthread.php?t=293153&p=6137692&viewfull=1#post6137692