ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: lilhoo on October 26, 2018, 02:59:51 pm

Title: KEY ECONOMICS STATISTICS
Post by: lilhoo on October 26, 2018, 02:59:51 pm

Hey guys!
I'm just a bit lost on the types of data we need go know for the exam. What stats do you recommend learning and do we have to know averages, and specific numbers for each month, etc?

Title: Re: KEY ECONOMICS STATISTICS
Post by: Chelsea f.c. on October 26, 2018, 03:51:15 pm

Three key are output, inflation and unemployment... inflation is change in price level saw that last year I.e. (P_t+1/P_t)-1... other ones are trade balance current account capital account and exchange rates... other stuff is trade weighted index... but maybe just focus first three and be able to understand the rest... just a brainstorm!

Title: Re: KEY ECONOMICS STATISTICS
Post by: zofromuxo on October 27, 2018, 01:31:13 pm

One thing to note about statistics, be sure that they are actually needed for your responses.
Do not put it in to make you look "smart"!

The 3 key ones you can use in majority of questions is Economic Growth (GDP), Interest Rates and Inflation.