carly.roder
New Member
what type of stats is everyone learning? I don't know any recent stuff I've been the biggest hermit...
reality? (2 Viewers)
- Thread starter carly.roder
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Zak Ambrose
Title Cost $20
hey carly.
dont worry about specific statistics. im making sure im aware of the trends occuring, e.g. a move from expansionary monetary policy to contractionary.
and the components and weightings of things such as Aggregate demand [consumption 60%, private Investment 22% etc.]
having said that i think you should know:
- the cash rate 3.25%
- the inflation rate , i think its around 1.5%
- the participation rate 65%
- the unemployment rate 5.7%
- the fiscal deficit, i think its about -$50 billion, someone will have to confirm this.
dont worry about specific statistics. im making sure im aware of the trends occuring, e.g. a move from expansionary monetary policy to contractionary.
and the components and weightings of things such as Aggregate demand [consumption 60%, private Investment 22% etc.]
having said that i think you should know:
- the cash rate 3.25%
- the inflation rate , i think its around 1.5%
- the participation rate 65%
- the unemployment rate 5.7%
- the fiscal deficit, i think its about -$50 billion, someone will have to confirm this.
Cash rate is likely to change again before the exam.
and I thought inflation was like 3.5% atm?
Zak Ambrose
Title Cost $20
RBA: Measures of Consumer Price Inflation
i think we would use the September year end percentage change, excluding volatile items. so 2.4%
carly.roder
New Member
hey carly.
dont worry about specific statistics. im making sure im aware of the trends occuring, e.g. a move from expansionary monetary policy to contractionary.
Thanks Zak, nice to know your willing to help a sufferer like me all the way down at number three (unintentional rhyme)
Ah ok. I must of read something about the underlying rate of inflation then.
Is it correct to say that the CAD this year was significantly lower than last years? Pretty sure I read that somewhere, but haven't looked at any actual stats.
Is it correct to say that the CAD this year was significantly lower than last years? Pretty sure I read that somewhere, but haven't looked at any actual stats.
Zak Ambrose
Title Cost $20
yes i think the current account balance for June 2009 is -$10 000mil. which is a MASSIVE improvement from previous years where it has been around 50000 to 60000 mil.
source: 5302.0 - Balance of Payments and International Investment Position, Australia, Jun 2009
gnrlies
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When a marker glances over your script, they will look for several things ranging from key syllabus terms, to appropriate diagrams, and finally statistics.
this is not because they are essential in every situation, but because they do typically tend to distinguish better responses. So it can be a good idea to do this even for the subliminal effect that it has on the marker.
That being said, I think that knowing a trend is far more important than knowing a single number. So for example if you want to give your statistics some more power, you really need to know where it fits into in context to a trend. The best way to do this is to know its 'normal' value.
E.g. you might talk about the effect of the GFC on interest rates and suggest that it went from 7.25% to 3%.
this is not because they are essential in every situation, but because they do typically tend to distinguish better responses. So it can be a good idea to do this even for the subliminal effect that it has on the marker.
That being said, I think that knowing a trend is far more important than knowing a single number. So for example if you want to give your statistics some more power, you really need to know where it fits into in context to a trend. The best way to do this is to know its 'normal' value.
E.g. you might talk about the effect of the GFC on interest rates and suggest that it went from 7.25% to 3%.