What is the maximum mark I could get in HSC Economics without mentioning a single statistic? (2 Viewers)

[v.tex]

^^

 

[yourlocaliga]

probs like a 16 or 17? im always told that a purely content essay is better than a purely stats essay

i feel like it would be lower in section 3 bc they give u a stimulus so ur also required to use the stats from the stimulus and if u dont use any thats worse than not doing any in section 4

 

[v.tex]

probs like a 16 or 17? im always told that a purely content essay is better than a purely stats essay

i feel like it would be lower in section 3 bc they give u a stimulus so ur also required to use the stats from the stimulus and if u dont use any thats worse than not doing any in section 4

Ok, can you get away with mentioning no stats in short answers?

 

[ben_from_econtools]

Short answers typically don't need stats, but there are edge cases which may require to recall examples/stats. In essays, the marker feedback in the past has emphasised using relevant real world examples/statistics so I would say they are fairly relevant, but you will still be able to get marks without them (just not top marks perhaps). That being said, some essay questions will require less that others - e.g. there was a past question on the 'causes and effects of inflation.' This is going to be a lot more content/theory heavy than say "analyse the effectiveness of fiscal policy in Australia in the achievement of full employment.'

 

[v.tex]

Short answers typically don't need stats, but there are edge cases which may require to recall examples/stats. In essays, the marker feedback in the past has emphasised using relevant real world examples/statistics so I would say they are fairly relevant, but you will still be able to get marks without them (just not top marks perhaps). That being said, some essay questions will require less that others - e.g. there was a past question on the 'causes and effects of inflation.' This is going to be a lot more content/theory heavy than say "analyse the effectiveness of fiscal policy in Australia in the achievement of full employment.'

Really, we don't need stats in shorts? Is it a myth that every short answer over 4 marks or something needs a stat?

 

[ben_from_econtools]

No you do need them, but not for the majority of them. Some examples where you might need stats:

"Explain the economic factors that have lead to the government's current stance" (5 marks, 2022 paper)
"Analyse the impact of labour market policies on inflation" (5 marks, 2024 paper)
"Assess the effectiveness of using microeconomic policies to reduce unemployment in Australia" (5 marks, 2023)
"Assess the effectiveness of one market-based policy in managing environmental issues in the Australian economy" (5 marks, 2024)

I would say the directive verb can also help guide whether a statistic might be useful. Assess/evaluate I would say might benefit from real examples. Sometimes it might also ask explicitly for an example.

I haven't heard of the 4 mark rule explicitly, but higher mark questions definitely provide more room for it.

 

[v.tex]

No you do need them, but not for the majority of them. Some examples where you might need stats:

"Explain the economic factors that have lead to the government's current stance" (5 marks, 2022 paper)
"Analyse the impact of labour market policies on inflation" (5 marks, 2024 paper)
"Assess the effectiveness of using microeconomic policies to reduce unemployment in Australia" (5 marks, 2023)
"Assess the effectiveness of one market-based policy in managing environmental issues in the Australian economy" (5 marks, 2024)

I would say the directive verb can also help guide whether a statistic might be useful. Assess/evaluate I would say might benefit from real examples. Sometimes it might also ask explicitly for an example.

I haven't heard of the 4 mark rule explicitly, but higher mark questions definitely provide more room for it.

Thanks so much!

 

[v.tex]

Could you please mention the Key stats I should know?

 

[ben_from_econtools]

Could you please mention the Key stats I should know?

There's a host of ones that should work across essays and short answer questions. Some I would be sure to know:
-Examples of micro policies and their impact on outcomes (including labour market and environmental within these as they are often called out individually)
- FP and MP stances and their effectiveness on achieving the outcomes (key periods like pandemic, post-pandemic recovery, pre-pandemic slowdown are good)

In extension, stats on below are also good (not exhaustive list but just some ideas):
- australia's participation in multilateral agreement/bilateral agreement and few key stats around them
-external stability (exchange rates, bop trends, drivers of the trends and impact on performance
- trends on trade/financial flows in aus
- impact of exchange rates on external stability
- changing structure of economy
- protectionism decline in Australia
- different environmental policies and effectiveness/impact on economy
- global stats on globalisation (protectionism, trade, impact on growth, impact on development)

You won't need all the listed stats above, and you can be smart by prioritising the areas that get asked more. Go to EconTools if you want, we have topics with % of marks in last 14 years asked for each, then you can access pre-organised stats by theme to go with each topic/question and use the pre-organised scaffolds if you wish.

Hope your studies go well!

 

[v.tex]

There's a host of ones that should work across essays and short answer questions. Some I would be sure to know:
-Examples of micro policies and their impact on outcomes (including labour market and environmental within these as they are often called out individually)
- FP and MP stances and their effectiveness on achieving the outcomes (key periods like pandemic, post-pandemic recovery, pre-pandemic slowdown are good)

In extension, stats on below are also good (not exhaustive list but just some ideas):
- australia's participation in multilateral agreement/bilateral agreement and few key stats around them
-external stability (exchange rates, bop trends, drivers of the trends and impact on performance
- trends on trade/financial flows in aus
- impact of exchange rates on external stability
- changing structure of economy
- protectionism decline in Australia
- different environmental policies and effectiveness/impact on economy
- global stats on globalisation (protectionism, trade, impact on growth, impact on development)

You won't need all the listed stats above, and you can be smart by prioritising the areas that get asked more. Go to EconTools if you want, we have topics with % of marks in last 14 years asked for each, then you can access pre-organised stats by theme to go with each topic/question and use the pre-organised scaffolds if you wish.

Hope your studies go well!

Ok. Thanks!