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October 04, 2023, 11:33:04 pm

Author Topic: 2 Years of ECO knowledge, how detailed does it need to be?  (Read 3501 times)  Share 

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Fraser-T

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2 Years of ECO knowledge, how detailed does it need to be?
« on: August 18, 2020, 09:23:08 am »
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Hi guys,
since it's expected that we know 2 years of economic history for the exam as it will be referencing things from the past, just how much knowledge do I need? do we have to memorise every decision by the RBA and treasury from that time? or is it more like knowing the interest rate changes from the end of each quarter?

Thanks.

IThinkIFailed

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Re: 2 Years of ECO knowledge, how detailed does it need to be?
« Reply #1 on: August 18, 2020, 09:54:57 am »
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Hi guys,
since it's expected that we know 2 years of economic history for the exam as it will be referencing things from the past, just how much knowledge do I need? do we have to memorise every decision by the RBA and treasury from that time? or is it more like knowing the interest rate changes from the end of each quarter?

Thanks.

You should remember your bread and butter statistics for the last 2 years:
1: economic growth
2: Inflation
3: Unemployment rate
4:Monetary policy cash rate changes
5: Last 2 budgets- just remember 1 or 2 policies for each type of policy, (e.g 1 or 2 for infrastructure spending, welfare etc.)

Extra stuff you could choose to remember, but itís probably more important to know the basic trend rather than specific numbers:
Exchange rate, TOT, Consumer + business confidence, etc.
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Fraser-T

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Re: 2 Years of ECO knowledge, how detailed does it need to be?
« Reply #2 on: August 20, 2020, 09:41:18 am »
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You should remember your bread and butter statistics for the last 2 years:
1: economic growth
2: Inflation
3: Unemployment rate
4:Monetary policy cash rate changes
5: Last 2 budgets- just remember 1 or 2 policies for each type of policy, (e.g 1 or 2 for infrastructure spending, welfare etc.)

Extra stuff you could choose to remember, but itís probably more important to know the basic trend rather than specific numbers:
Exchange rate, TOT, Consumer + business confidence, etc.

thanks for the summary, but how much detail must I know? like should I be able to recall the level of economic growth for each month from the last 2 years? or quarterly growth?