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oh yea! i misread the question and thought it said impact on two components of the CURRENT ACCOUNT! so i was like... screw it, and i turned over. wasn't it only worth 3 marks? or am i dreaming?

yea that's what i meant. like if the BOS decide that the band 6 cut off will be 82 then they'll moderate 82 to 90, etc etc

well then your trials were marked leniently. unless you go to james ruse and heaps of you are going to get state rankings. the average for the trial at my school was in the 70s and over 50% of us get a band 6 in the hsc. so there's quite a big difference between how the trial is marked and...

what was the last short answer question? i think i rushed that one. oh and how many marks was it worth?

oh shit, dropped 2 marks. stupid silly mistakes!!

are you expecting a state ranking? cos that mark would easily get you one. i'm expecting mid 80s.

the inequality between countries has increased. i mean sure, absolute poverty has fallen but if you remove china's contribution to that figure then you'll see a very different picture. there are MORE people living in absolute and relative poverty in countries like the ones in sub-saharan africa...

no, stagflation just means high inflation and unemployment at the same time. i don't think there's a term for low infation and unemployment - good economic management perhaps? ;)

you must go to the leading edge workshops! www.leadingedge.com.au you should go to both the revision workshop and the exam strategy ones. trust me, they're fantastic. they'll help to consolidate your knowledge and plus they give you loads of useful statistics and current data that your...

if there is no inflation at all then that will obviously constrain growth but a low inflation environment is ideal for growth. the reason australia has been able to maintain years of sustained economic growth is because of our low inflation record. it is also the reason why govts around the...

1. foreign debt and liabilities incur servicing repayments. these are recorded on the net income component of the current account. 2. i hope you didn't get this question from a past hsc paper :S i'll attempt to explain it. under a floating exchange rate the supply of AUD is equal to the...

im getting really worried as well. i just realised im a bit rusty on the content. argh!! i NEED this subject to pull me up. *freaks out*

micro reform is industry specific. it targets resource or product markets through increasing competition in specific industries and thus aggregate supply. this is achieved through increasing EFFICIENCY. you should know the 3 types of efficiency (dynamic, allocative and technical) and it's...

damn i hope there's a policy mix question on inflation or eco growth. that would be awesome. i think there'll be a protection essay and a micro essay for sure. maybe a CAD/external stability one as well but i hope not.

i tend to disagree. australia is one of the LEAST protected economies in the world. australia's aim is to trade as much as they can. one of its main strategies has been unilateral policies to reduce protection across all industries. this has seen export growth surge exponentially. we're one of...

huh? :confused: sure, you can talk about topic 2 if you like.

yea im totally with mitsui. you don't need to the know the legislation in detail. it's economics not legal studies. as an economist your marks will mostly come from your ability to evaluate the effects of that piece of legislation on the economy, not the content of the legislation itself.

globalisation has had HEAPS of impacts on australia because we're one of the few economies that have embraced it. actors/drivers of globalisation: trade, financial flows, investment flows, labour flows, technology flows, international business cycle, international organisation, TNCs, govts...

lol yep, but the other data we HAVE to know to do well. for the case study we need to memorise MORE boring stuff like 'FDI was at $x biillion in x year' which i can't stand and i can get away with not learning. :| but yea, to everyone else, you really should learn your case study if you're not...

it's unlikely that we'll get asked a question specifically on the labour reforms but if we did the question would be something like: evaluate the effects of recent labour reforms on the australian economy. essay structure: 1. intro 2. explain microeconomic reform and its effects (increase AS...