General Thoughts: Economics (2 Viewers)

[silvi_1]

I honestly thought there was going to be more stuff on the environment eg the carbon tax, or even the labour market etc
It was a veryyyyy broad exam - with the questions in all the sections in general.
Wish it was harder, but oh well.

 

[Washy_182]

I thought it was strange how there was no (maybe one) policy question at the end of the short answer questions like they usually do. Totally threw me.

 

[inJust]

It was pretty easy but I think I made stupid mistakes to counteract the ease of the paper. Lol Murphy's law.

 

[RishBonjour]

For those who did the policy essay. how did you structure it? I think I immensely disadvantaged myself by not talking about the environment.

 

[inJust]

For those who did the policy essay. how did you structure it? I think I immensely disadvantaged myself by not talking about the environment.

Intro;
Background parragraph;
Fiscal cyclical;
Fiscal structural;
Monetary;
Micro;

 

[RishBonjour]

Intro;
Background parragraph;
Fiscal cyclical;
Fiscal structural;
Monetary;
Micro;

Under each of them you analysed 4-5 objectives?

I did mine by objectives, it was easier to point out limitations and (hence we need micro etc)

Eco
- FP/ MP (but time lag) --> long run, MER needed etc

But I forgot to add political constraints!

 

[RishBonjour]

Intro;
Background parragraph;
Fiscal cyclical;
Fiscal structural;
Monetary;
Micro;

Under each of them you analysed 4-5 objectives?

I did mine by objectives, it was easier to point out limitations and (hence we need micro etc)

Eco
- FP/ MP (but time lag) --> long run, MER needed etc

But I forgot to add political constraints!

 

[inJust]

I just talked about time lag for FP/MP and implementation lag for MER ahha. Didn't even talk about political constraints. Idk, my policy essay was so shit tbh. Had like 3-4 sentences explaining the policy then the rest was giving examples and how it affected the objectives. I made sure I had one example each. Hahaha.

 

[David2245]

I think the question asked for the objectives to be the focus and not policy. It seemed to be the effectiveness of the govt in meeting objectives, through it's use of policy.

Intro
Body Paragraph for each of the 6 objectives.

Body Paragraph:
Mention what the objective/target rate is and historical trends.
Recent example of macro (be it monetary or fiscal), micro and international (more tariff, trade, financial flow and for environment kyoto protocol). Stats about this stance taken, drawing a correlation between the impact it had on the objective and the desired effect of the policy implemented then.
Talk about policies currently and the current rates in relation to the objective.
Make an overall judgement.

thoughts??? i'm not sure but I hope it's right lol.

 

[Bloodstriker]

I think they are going to mark the extended responses rather hard because I think a lot of people may have missed the point about the question. But, that's just my opinion.

Yea i think people are overestimating how well they'll do in the essays

 

[ahdil33]

I think the question asked for the objectives to be the focus and not policy. It seemed to be the effectiveness of the govt in meeting objectives, through it's use of policy.

Intro
Body Paragraph for each of the 6 objectives.

Body Paragraph:
Mention what the objective/target rate is and historical trends.
Recent example of macro (be it monetary or fiscal), micro and international (more tariff, trade, financial flow and for environment kyoto protocol). Stats about this stance taken, drawing a correlation between the impact it had on the objective and the desired effect of the policy implemented then.
Talk about policies currently and the current rates in relation to the objective.
Make an overall judgement.

thoughts??? i'm not sure but I hope it's right lol.

I interpreted the question as you did, that it was evaluating the effectiveness of the govenrment's use, but now I'm scared I might be wrong. It's not very clear to be honest.

Also this is a terrible question. There's way too much to write about, they should have limited it to macro imo

 

[Rawf]

Did you guys get inflation was 5% or something? I didn't have time to check my calculations.

 

[freeeeee]

yeh inflation 5%

 

[freeeeee]

Im curious to what you guys wrote for disavantage of trade agreement with Australia Q (the benefit is easy), did you all play it safe with short term unemployment? or is there another key disadvantage i am missing

 

[asadass]

yeh I said structural unemployment in the short term

 

[mulimulix]

Im curious to what you guys wrote for disavantage of trade agreement with Australia Q (the benefit is easy), did you all play it safe with short term unemployment? or is there another key disadvantage i am missing

I said because it increases competition for domestic industries and they may not be able to compete.

 

[mulimulix]

yeh inflation 5%

I got 4.7%?

 

[Rawf]

I got 4.7%?

Really? Oh shit. I don't remember having a decimal in mine.. it was a whole number I think.

 

[asadass]

defs 5%

 

[mulimulix]

defs 5%

Wasn't it something like 120 the first year and 126 the 2nd year?