Who is in the same situation as me. Doing a one night cram for economics. (1 Viewer)

[sghguos]

Re: For question 28 I didnt talk about microeconomic policies? comments

i talked about the limitations, conflcting objectives and short/term trade offs (macro and micro such as how macro brings economic growth forward and micro creates 'new' sustained growth in the long term).

i barely spoked about external stability and scratched the surface of distribution of income.
the question was way too broad. i wish they did specify more..

U didnt talk about economic objectives sorry

 

[David2245]

Re: For question 28 I didnt talk about microeconomic policies? comments

Labour market policy is microeconomic policy.

You'd pretty much need a mix of macro and micro, possibly even international policy. You should talk about them with reference to each objective.

I'm still thinking that there's no need to go in depth with limitations. We're talking about the effectiveness of policies the govt uses to address economic objectives. The emphasis is on the issues and the govt. objectives and then how it is implemented. Talking about limitations should be considered somewhat redundant because there's no need to discuss say fiscal policy being poor in trying to deal with inflation or monetary with income distribution when they aren't the favoured policy used by the government. Instead the judgement on effectiveness should be made not on the policy itself, but the policy the government uses and how they use. So making a judgement on the fiscal policy which the government uses for income & wealth distribution and not talking about how the government would be ineffective if they used it for xxxx.

 

[mickstarify]

Re: For question 28 I didnt talk about microeconomic policies? comments

We're talking about the effectiveness of policies the govt uses to address economic objectives. The emphasis is on the issues and the govt..

So you didn't talk about monetary policy?
The question asks for economic policies that furthered Australia's economic goals, which includes other things such as what
the RBA does for price stability

 

[Riaa]

Re: For question 28 I didnt talk about microeconomic policies? comments

U didnt talk about economic objectives sorry

No no, I went into depth about Eco growth, Inflation, Employment, Environment and then linked it to the what I said in the previous post. My essay was

Ecogrowth
Price Stability
Unemployment
Environmental Sustainability

I simply rushed the last two Objectives. XD
The Eco growth example was how I approached each paragraph. Spoke about macro and micro and it's effectiveness for each objective.

 

[osak23]

Re: For question 28 I didnt talk about microeconomic policies? comments

the question was 'discuss'

meant to talk disadvantage/limitations

 

[David2245]

Re: For question 28 I didnt talk about microeconomic policies? comments

the question was 'discuss'

meant to talk disadvantage/limitations

To an extent. I just can't see it being feasible because if we're talking about the government trying to meet objectives, they clearly don't use some policies. Like trying to say fiscal policy is ineffective or limited when dealing with inflation. The stuff that's ineffective/limited doesn't really need talking about at all unless we're talking about conflicts, say between inflation and employment/growth.

 

[mickstarify]

Re: For question 28 I didnt talk about microeconomic policies? comments

I think we should stop worrying about what we should have written of what we could've. Its done now & we will get the marks that we get.

Lets look to math now or whatever you have next

 

[eXanimo]

Re: For question 28 I didnt talk about microeconomic policies? comments

Ahaha, this was such an extension history type question.

Don't worry, the markers recognise that there is too much to write about for which is supposed to be a 35-45 minute essay (even though most of us spend like and hour and 15 on each one). The idea is to narrow down you focus, and still mention all the objectives if possible, but gives some deep analysis of a select few. If you wrote 7-9 pages on just a few policies or just a few objectives, you're still in the clear.

 

[RishBonjour]

Re: For question 28 I didnt talk about microeconomic policies? comments

No no, I went into depth about Eco growth, Inflation, Employment, Environment and then linked it to the what I said in the previous post. My essay was

Ecogrowth
Price Stability
Unemployment
Environmental Sustainability

I simply rushed the last two Objectives. XD
The Eco growth example was how I approached each paragraph. Spoke about macro and micro and it's effectiveness for each objective.

holy shiz "ria" I thought it was me for a moment. (first part of my name)


I did mine by objectives. and don't worry, everyone realises after the essay "ohh should have written this" markers are aware. our answers are not going to have EVERYTHING. (unless you practiced 50 essay questions)

 

[RishBonjour]

Re: For question 28 I didnt talk about microeconomic policies? comments

To an extent. I just can't see it being feasible because if we're talking about the government trying to meet objectives, they clearly don't use some policies. Like trying to say fiscal policy is ineffective or limited when dealing with inflation. The stuff that's ineffective/limited doesn't really need talking about at all unless we're talking about conflicts, say between inflation and employment/growth.

no actually. discuss, you talk about limitation, i think it was discuss teh effectiveness? for fiscal, probably needed to talk about crowding out etc. I didn't talk about political constraints

basically, for eco growth I wrote 1.5 page on fiscal, half a page on monetary and then half a page on micro.
but for inflation, it was monetary that got 1.5 page, fiscal 2 lines lol. and monetary half a page too.
tried to balance it out. but over all my structure was pretty bad

things I forgot:
- micro time lag + political constraints
- FP political constraints
- and the worst part. fkn environment.

 

[Riaa]

Re: For question 28 I didnt talk about microeconomic policies? comments

holy shiz "ria" I thought it was me for a moment. (first part of my name)


I did mine by objectives. and don't worry, everyone realises after the essay "ohh should have written this" markers are aware. our answers are not going to have EVERYTHING. (unless you practiced 50 essay questions)

Hahaha xD
This.

 

[fizzbylightning]

Re: For question 28 I didnt talk about microeconomic policies? comments

I think everyone needs to calm down. You aren't "fucked".

I responded to the question with three key economic objectives. Economic growth, price stability/sustainable inflation and low unemployment at NAIRU. I was thinking, this is such a broad question so I didn't want to talk about all 6/7 objectives because I knew I would end up skimming the surface.

 

[RishBonjour]

Re: For question 28 I didnt talk about microeconomic policies? comments

I think everyone needs to calm down. You aren't "fucked".

I responded to the question with three key economic objectives. Economic growth, price stability/sustainable inflation and low unemployment at NAIRU. I was thinking, this is such a broad question so I didn't want to talk about all 6/7 objectives because I knew I would end up skimming the surface.

How many words do you think you hit? (pages don't really help)

 

[fizzbylightning]

Re: For question 28 I didnt talk about microeconomic policies? comments

I'd say 1000. I don't really understand why people get worked up with quantity though. I know for a fact that you can get full marks with a 800-900 word essay. Economics is all about hitting the nail on the head.

 

[RishBonjour]

Re: For question 28 I didnt talk about microeconomic policies? comments

I'd say 1000. I don't really understand why people get worked up with quantity though. I know for a fact that you can get full marks with a 800-900 word essay. Economics is all about hitting the nail on the head.

I definitely agree with you. its all about getting straight to the point. But if someone did exactly what you did and added two other objectives, they would get the better mark. (only because question was so broad)

Also, did you have a look at 2011 exemplar responses? lowest word count was around 1100, highest was 1800 so yeah. (obviously it was all quality shiz)

so you have to be EXTREMELY concise/amazing to get full marks with 900 words.

 

[fizzbylightning]

Re: For question 28 I didnt talk about microeconomic policies? comments

Obviously I don't know exactly what will get full marks what won't. But in terms of the question, that being a ridiculously broad one, I think if you applied economic theory and integrated an argument of assessment in answering the question (effectiveness of the policies was it?), there is no need to cover every objective or a lot of them. I don't know. I have it extremely ingrained in my mind that someone can get full marks without doing so. Thanks for your comments though

 

[RishBonjour]

Re: For question 28 I didnt talk about microeconomic policies? comments

Obviously I don't know exactly what will get full marks what won't. But in terms of the question, that being a ridiculously broad one, I think if you applied economic theory and integrated an argument of assessment in answering the question (effectiveness of the policies was it?), there is no need to cover every objective or a lot of them. I don't know. I have it extremely ingrained in my mind that someone can get full marks without doing so. Thanks for your comments though

I hope so too. didn't do environment

 

[Kieran95]

Re: For question 28 I didnt talk about microeconomic policies? comments

I definitely agree with you. its all about getting straight to the point. But if someone did exactly what you did and added two other objectives, they would get the better mark. (only because question was so broad)

Also, did you have a look at 2011 exemplar responses? lowest word count was around 1100, highest was 1800 so yeah. (obviously it was all quality shiz)

so you have to be EXTREMELY concise/amazing to get full marks with 900 words.

I might've already asked you this, but where did you see the 2011 exemplar's?

 

[RishBonjour]

Re: For question 28 I didnt talk about microeconomic policies? comments

I might've already asked you this, but where did you see the 2011 exemplar's?

My teacher bought the BOS book for 2011 and we had a look at it.
some were actually quite good. Basically, you just have to put stuff in your essay that 99% of the state won't have.

ohh, and go crazy with graphs. (one of them had 6-7)

 

[inJust]

Re: For question 28 I didnt talk about microeconomic policies? comments

FUck man, forgot to mention target bands for growth and inflation. SILLY SILLY MISTAKE.