ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: Hutchoo on September 10, 2010, 04:44:11 pm

Title: Economics
Post by: Hutchoo on September 10, 2010, 04:44:11 pm
Hi guys, unfortunately my first preference of Biology 3/4 clashed with Chemistry Units 1 and 2 (there was only one of each class); So I now have Economics Units 3 and 4, which isn't too bad because it was my first reserve.
I've always been good at commerce throughout year 7-10, but I haven't done 1/2 Economics.. So I want to be able to read the stuff over the holidays.

The book we study at school is called "Economics Down Under Book 1" I was wondering if anyone has the book (PDF) or anything that contains 1/2 Economics.

If you have any other notes or any other tips, please don't be afraid to contact me via my inbox.
My principal (who teaches the subject) asked how is my writing.. I replied with fast and readable; he also asked how I am with analysing stuff.. I replied with Quite decent.. Why did he ask these questions? 0.o

Thank you very much.
Title: Re: Economics
Post by: mmmmm on September 11, 2010, 07:29:48 pm
Hi guys, unfortunately my first preference of Biology 3/4 clashed with Chemistry Units 1 and 2 (there was only one of each class); So I now have Economics Units 3 and 4, which isn't too bad because it was my first reserve.
I've always been good at commerce throughout year 7-10, but I haven't done 1/2 Economics.. So I want to be able to read the stuff over the holidays.

The book we study at school is called "Economics Down Under Book 1" I was wondering if anyone has the book (PDF) or anything that contains 1/2 Economics.

If you have any other notes or any other tips, please don't be afraid to contact me via my inbox.
My principal (who teaches the subject) asked how is my writing.. I replied with fast and readable; he also asked how I am with analysing stuff.. I replied with Quite decent.. Why did he ask these questions? 0.o

Thank you very much.

Lol buy the book, have a hard copy.
Title: Re: Economics
Post by: Yitzi_K on September 11, 2010, 07:34:41 pm
Not a lot of economics students on VN I'm afraid. I don't have a pdf version of the book either. However, it is not necessary to do units 1+2 to do 3+4 (I did, but others in my class didn't.)

As for why your teacher asked you that... I'm not really sure, obviously economics is a subject that has a fair bit of writing, and a bit of analysis-style questions, but no more than most subjects.
Title: Re: Economics
Post by: schmalex on September 11, 2010, 07:54:31 pm
everything you need to know is covered in 3\4, so I'd just get the 3\4 textbook early, and ask questions about things you need to know on VN:)
Title: Re: Economics
Post by: Hutchoo on September 11, 2010, 08:30:50 pm
Oh, sweet as. Thanks, didn't really know that much about economics 3/4.
IS IT EVEN FUN?!
Title: Re: Economics
Post by: schmalex on September 11, 2010, 08:36:02 pm
It isn't too bad, some of it gets boring, but you'll learn a lot of useful information.
Title: Re: Economics
Post by: Yitzi_K on September 11, 2010, 08:47:35 pm
Some bits are more interesting than others, but in the whole it's good to know that it's all relevant and applicable stuff that you can actually use in the real world. 
Title: Re: Economics
Post by: mmmmm on September 11, 2010, 08:54:06 pm
Oh, sweet as. Thanks, didn't really know that much about economics 3/4.
IS IT EVEN FUN?!

Honestly, it was in year 11.  Now, not so much.  But yeah, it's pretty interesting.
Title: Re: Economics
Post by: Hutchoo on September 11, 2010, 09:09:29 pm
So, its a 50/50 sort of subject, thats alright I suppose.

How is it with the exams etc? Hard? Scaling etc?
Title: Re: Economics
Post by: AzureBlue on September 11, 2010, 09:44:48 pm
Eco usually goes 40 --> 42, 45 --> 46, so it goes up a little bit. I've decided not to do it in VCE in favour of exploring other subject areas as I'll be covering quite a bit in uni, and first year eco subjects apparently assume no previous knowledge. But Eco sounds amazing; especially behavioural economics, game theory, economics history and all that stuff!! :)
Title: Re: Economics
Post by: Whatlol on September 11, 2010, 09:48:34 pm
lol economics is awesome , i wanted to do it )=
Title: Re: Economics
Post by: Hutchoo on September 11, 2010, 11:19:07 pm
Eco usually goes 40 --> 42, 45 --> 46, so it goes up a little bit. I've decided not to do it in VCE in favour of exploring other subject areas as I'll be covering quite a bit in uni, and first year eco subjects apparently assume no previous knowledge. But Eco sounds amazing; especially behavioural economics, game theory, economics history and all that stuff!! :)

I'm going to LOL very hard if you decide to change all of your university stuff.

But yeah, it seems awesome.
Title: Re: Economics
Post by: AzureBlue on September 12, 2010, 09:08:15 am
Yeah, especially the stuff in microeconomics :)
I want to do a double major in eco/actuarial studies so badly..
Title: Re: Economics
Post by: mmmmm on September 12, 2010, 11:31:58 am
I think a lot of the stuff are common sense aswell. I think the short answers is goin to be hard.  And my teacher said that you can predict what is going to be on the exam, cos they normally write it on what is actually going on in Australia.  Eg. GFC
Title: Re: Economics
Post by: Hutchoo on September 12, 2010, 11:51:31 am
Ah, that sounds quite good then.. I just have to read more newspapers and pay attention to companies etc? Well, pay more attention anyway :P

Can't wait ^^
Title: Re: Economics
Post by: Hutchoo on September 14, 2010, 08:28:40 pm
Just a little bump, can anybody find me the average study score for subjects? I want to know what the average is for economics :P

I can't find it.. Its somewhere on VCAA or something, I swear I've seen it!
Title: Re: Economics
Post by: Yitzi_K on September 14, 2010, 08:57:19 pm
The average study score would be 30 wouldn't it?

If you mean the grade distributions, here's the 2009 stats: http://www.vcaa.vic.edu.au/vcaa/vce/statistics/2009/section3/vce_economics_ga09.pdf
Title: Re: Economics
Post by: Hutchoo on September 14, 2010, 08:58:51 pm
The average study score would be 30 wouldn't it?

If you mean the grade distributions, here's the 2009 stats: http://www.vcaa.vic.edu.au/vcaa/vce/statistics/2009/section3/vce_economics_ga09.pdf

It was more of a booklet, stating the average study scores for each subject, depending on peoples results.

Some are 23 and stuff... I'll try and find it too :P
Title: Re: Economics
Post by: mba on September 14, 2010, 11:39:15 pm
The average study score would be 30 wouldn't it?

If you mean the grade distributions, here's the 2009 stats: http://www.vcaa.vic.edu.au/vcaa/vce/statistics/2009/section3/vce_economics_ga09.pdf

It was more of a booklet, stating the average study scores for each subject, depending on peoples results.

Some are 23 and stuff... I'll try and find it too :P

I'm pretty sure the average SS is 30 for all subjects? That's the point of the bell curve, to evenly spread and standardise marks using the mean and sD's.
Title: Re: Economics
Post by: mmmmm on September 15, 2010, 04:15:11 pm
The average study score would be 30 wouldn't it?

If you mean the grade distributions, here's the 2009 stats: http://www.vcaa.vic.edu.au/vcaa/vce/statistics/2009/section3/vce_economics_ga09.pdf

It was more of a booklet, stating the average study scores for each subject, depending on peoples results.

Some are 23 and stuff... I'll try and find it too :P

Maybe it's in the scaling report..
http://www.vtac.edu.au/pdf/scaling_report.pdf

But i'm pretty sure it's 30..
Title: Re: Economics
Post by: Hutchoo on September 15, 2010, 04:43:02 pm
The average study score would be 30 wouldn't it?

If you mean the grade distributions, here's the 2009 stats: http://www.vcaa.vic.edu.au/vcaa/vce/statistics/2009/section3/vce_economics_ga09.pdf

It was more of a booklet, stating the average study scores for each subject, depending on peoples results.

Some are 23 and stuff... I'll try and find it too :P

Maybe it's in the scaling report..
http://www.vtac.edu.au/pdf/scaling_report.pdf

But i'm pretty sure it's 30..

AH YES THATS IT!

And it is at 30 =D. Sorry I'm bad at explaining stuff
Title: Re: Economics
Post by: AzureBlue on September 15, 2010, 05:00:50 pm
The 'AVERAGE' study score for Chinese SL is 39.52? That is so good!
Title: Re: Economics
Post by: Hutchoo on September 15, 2010, 05:21:24 pm
45.00 for Latin? I don't even know if thats the right way to say put it.. Is that the real 'average'?
Title: Re: Economics
Post by: AzureBlue on September 15, 2010, 05:59:17 pm
Oh! It's the scaled average. ie. 30 in Latin = 45.
Title: Re: Economics
Post by: Hutchoo on September 15, 2010, 06:29:12 pm
Yeah :P Well, 31 is pretty average.. Getting a 31 in Economics for someone that did a 1/2 should be easy I hope.. I'm looking for a high score :P Especially with tutoring.
Title: Re: Economics
Post by: AzureBlue on September 15, 2010, 06:48:08 pm
Lol, good luck. What areas are you interested in doing in uni?
Title: Re: Economics
Post by: Hutchoo on September 21, 2010, 05:07:25 pm
Can anyone tell me if these books would be a help for 3/4 Economics?

Should I go over these books on the holidays, or will it be wasting my time?

Thanks.

http://img265.imageshack.us/img265/9983/p210910165501.jpg
http://img530.imageshack.us/img530/5546/p210910165401.jpg
http://img843.imageshack.us/img843/2159/p2109101655.jpg
Title: Re: Economics
Post by: AzureBlue on September 21, 2010, 05:17:18 pm
Those are the first year uni textbooks - they're pretty good :)
Title: Re: Economics
Post by: Hutchoo on September 21, 2010, 05:30:16 pm
Yeah, my sister used them like once, they're in mint condition ^.^
How do you know that anyway? Genius? Kekeke.
So I should read them?, Which one do i read first?
Title: Re: Economics
Post by: AzureBlue on September 21, 2010, 06:56:20 pm
I don't know - probably best to ask someone who has done VCE economics what is relevant and what not. All I know is that they're meant to be quite good, and no previous knowledge required. I borrowed the micro from a friend because I have a project for commerce. Microeconomics : case studies and applications - Jeff Borland is pretty awesome too! :)
Title: Re: Economics
Post by: Hutchoo on September 21, 2010, 07:12:12 pm
:'( I need expert opinions!

Thanks for the information Azure.
Title: Re: Economics
Post by: jerry on September 21, 2010, 08:25:11 pm
Yeah, my sister used them like once, they're in mint condition ^.^
How do you know that anyway? Genius? Kekeke.
So I should read them?, Which one do i read first?

Probably read Principles of Economics first.

If you read these books you'll be learning economics intuitively more or less rather than just memorising stuff etc.

However, there are significant differences in the VCE course and the book.

The VCE course is more of "this is x objective and it is met when y occurs... " or "evaluate x policy in relation to the past x years ..."
The uni books will be more: how do things work and figuring out some of the logical behind it.

If you do decide to read Principles of Economics, a lot of chapters won't be needed since VCE economics is 95% macroeconomics.


Title: Re: Economics
Post by: Hutchoo on September 21, 2010, 08:39:26 pm
So I'll just focus on the macroeconomics parts of the book.
Thanks.
Title: Re: Economics
Post by: mba on September 23, 2010, 02:10:07 am
Honestly, you're better off sticking to the study design and textbook. Have a in-depth understanding of what is written in these documents and texts. Then compliment this knowledge of theory with practical examples, SPECIFICS (statistcs/policies etc.) not just waffle. Instead of spending time reading other textbooks, I  think it is more beneficial spending time understanding actual economic events/policies then linking them to relevant economic goals (and other relevant areas of the course).

You must remember that in the exam 1/3rd of your mark is derived from 15 multiple choice questions. You must ensure you can do multiple choice questions with ease, as some can be quite tricky and misleading.

Title: Re: Economics
Post by: Hutchoo on September 23, 2010, 02:55:35 am
Does anyone have 3/4 Economics practice exams?
And thanks MBA, you're right.. Those books I showed earlier aren't that good for 3/4 :P
Title: Re: Economics
Post by: Whatlol on September 25, 2010, 12:33:58 pm
Does anyone have 3/4 Economics practice exams?
And thanks MBA, you're right.. Those books I showed earlier aren't that good for 3/4 :P

i posted one in the thread for them.
Title: Re: Economics
Post by: Hutchoo on September 25, 2010, 06:25:17 pm
Can you give me a link?
Title: Re: Economics
Post by: Whatlol on September 25, 2010, 06:27:08 pm
Can you give me a link?


http://vcenotes.com/forum/index.php/topic,29592.0.html

i posted it in here( its like 3rd post from the bottom of the first page) , hope it is helpfull (=
Title: Re: Economics
Post by: Hutchoo on September 26, 2010, 12:25:48 am
Wow thanks :) Its very helpful.

+karma.
Title: Re: Economics
Post by: AzureBlue on September 29, 2010, 01:43:35 pm
Yeah, my sister used them like once, they're in mint condition ^.^
How do you know that anyway? Genius? Kekeke.
So I should read them?, Which one do i read first?
Probably read Principles of Economics first.
If you read these books you'll be learning economics intuitively more or less rather than just memorising stuff etc.
I just read Principles of Microeconomics in a few days - it's actually a really good book. Economics is really interesting :)
Now for all the case studies... :) Therefore, I'm probably going to swap actuarial studies for economics, and there are way more elective/breadth subjects so I can experience a wider range of areas than I would be able to as actuarial studies only has 3 breadth, no electives and that's it. Economic history, behavioural economics, mathematical economics, economics and the law, competition and strategy, game theory... sounds good.
BComm majoring in Economics (Hons)/Finance(?) + DipMSc here I come!
Title: Re: Economics
Post by: AzureBlue on September 29, 2010, 01:48:50 pm
Can anyone tell me if these books would be a help for 3/4 Economics?
Should I go over these books on the holidays, or will it be wasting my time?
Thanks.

http://img265.imageshack.us/img265/9983/p210910165501.jpg
http://img530.imageshack.us/img530/5546/p210910165401.jpg
http://img843.imageshack.us/img843/2159/p2109101655.jpg

Probably if you are reading, read the actual textbook not the study guide(?)
What subject in uni do they use "Principles of Economics" in? Because "Principles of Microeconomics" is used in Introductory Micro, and thus "Principles of Macroeconomics" is probably used in Introductory Macro, and those are the only first-year eco subjects. I don't think it quite fits with Quantitative methods 1 either...
Title: Re: Economics
Post by: Hutchoo on September 29, 2010, 04:47:47 pm
Heh, to be  honest, once I get the actual text book for 3/4, i'll just read it and do questions etc.. Apparently economics is an "easy" subject.

The "study guide" is actually full of questions 0.o
Title: Re: Economics
Post by: AzureBlue on September 29, 2010, 05:07:31 pm
Lol, that's why you learn from the textbook, then apply the knowledge you've gathered to the questions in the study guide. Yeah, apparently eco 3/4 is covered in the first 2 weeks of uni or something - similar thing to legal studies.
Title: Re: Economics
Post by: Hutchoo on September 29, 2010, 05:21:16 pm
Yeah, I just need to practice writing faster. Does vocabulary get + marks in economics 0.o?
Title: Re: Economics
Post by: Yitzi_K on September 29, 2010, 05:43:34 pm
No, not really. You are expected to use specific economics jargon when answering questions, but otherwise fancy or sophisticated vocab is no help at all.
Title: Re: Economics
Post by: Hutchoo on September 29, 2010, 06:06:37 pm
I see. Thats a relief, jargon it is ^.^

Does anyone have a list of the 'jargon' used for 3/4 subjects?
Definition list etc.
Title: Re: Economics
Post by: schmalex on September 29, 2010, 06:56:55 pm
There's no use just learning jargon for the sake of it- you learn it along the way.
Title: Re: Economics
Post by: Hutchoo on September 29, 2010, 06:59:12 pm
Can you even study for economics over the holiday :S?
Title: Re: Economics
Post by: schmalex on September 29, 2010, 07:25:45 pm
It's a bit difficult. My advice would be to learn all about our current economic situation - interest rates, economic growth, inflation etc., what it looked like in past years and a bit about past budgets and things. That's probably the easiest thing to learn. Otherwise, just look through the text book? And there's probably some good stuff on the net about microeconomics. Learn about the demand\supply model really well, because that and elasticity are the two most difficult concepts you'll have to deal with. Maybe also learn about the reserve bank, monetary policy, cash rates etc. because there's plenty of information on that around and it's also a pretty big party.
Title: Re: Economics
Post by: AzureBlue on September 29, 2010, 07:43:41 pm
Can you even study for economics over the holiday :S?
Yes. The uni textbooks are just that awesome - I couldn't stop reading Principles of Microeconomics; in fact, I started and finished reading it within 3 days. Maybe read stuff like case studies, The Financial Review, and the Economist?
Title: Re: Economics
Post by: eadvice on October 04, 2010, 09:58:04 pm
visit http://grou.ps/vceeconomics and ask there. Great chance you will get it, but make sure you ask in forum or chat.
Title: Re: Economics
Post by: Hutchoo on October 05, 2010, 04:15:40 am
visit http://grou.ps/vceeconomics and ask there. Great chance you will get it, but make sure you ask in forum or chat.
4 members?
Title: Re: Economics
Post by: Yitzi_K on October 05, 2010, 05:32:20 pm
visit http://grou.ps/vceeconomics and ask there. Great chance you will get it, but make sure you ask in forum or chat.
4 members?

Gotta start somewhere I suppose.
Title: Re: Economics
Post by: eadvice on October 05, 2010, 07:05:30 pm
visit http://grou.ps/vceeconomics and ask there. Great chance you will get it, but make sure you ask in forum or chat.
4 members?


Hi Hutchoo, my site is fairly new, although it has plenty of resources, I think it has the potential too grow, whilst providing help and support as well as tailoring most thing to all vce economic students.

So hope to see you there:)
Title: Re: Economics
Post by: mumakai on October 25, 2010, 04:11:23 pm
Can you even study for economics over the holiday :S?

read the business section of your newspaper or the business section on news websites, this will teach you new terms, what the govs policies are atm and whats happening with how to make money :)
Title: Re: Economics
Post by: Hutchoo on October 25, 2010, 05:26:09 pm
Thanks for that, Mumakai.

This may be a stupid question.. but would having a job somehow help with me understanding economics?
Title: Re: Economics
Post by: Caspar on October 25, 2010, 09:05:20 pm
Hutchoo, depending on how I go in eco I might help you out a bit over the hols. It's a pretty easy subject if you're able to grasp the more complex concepts fairly easily, but exams are a pain as most of the marks are allocated to 4+ mark questions where dropping one mark is far too easy.

edit: About economics being boring: It is what you make of it. Personally I really enjoy it.
Title: Re: Economics
Post by: Hutchoo on October 25, 2010, 09:38:30 pm
Hopefully you pwn the exam :) I would love some help =D.

Economics being boring... ehhh i've always liked commerce based subjects.
Title: Re: Economics
Post by: AzureBlue on October 25, 2010, 10:31:20 pm
Economics being boring... ehhh i've always liked commerce based subjects.
"Economics boring"?! Blasphemy! :P
Title: Re: Economics
Post by: mumakai on October 26, 2010, 02:17:05 pm
Thanks for that, Mumakai.

This may be a stupid question.. but would having a job somehow help with me understanding economics?

not really, this is subject is very practical but you dont need a job to understand you just need to know the theory and whats happening in the real world, i.e. newspaper :)
Title: Re: Economics
Post by: Hutchoo on October 26, 2010, 04:37:06 pm
I can't wait =D

ARGH, is a 40+ easily to obtain? With hard work etc.
Title: Re: Economics
Post by: Hutchoo on October 26, 2010, 11:22:18 pm
visit http://grou.ps/vceeconomics and ask there. Great chance you will get it, but make sure you ask in forum or chat.
4 members?


Hi Hutchoo, my site is fairly new, although it has plenty of resources, I think it has the potential too grow, whilst providing help and support as well as tailoring most thing to all vce economic students.

So hope to see you there:)

you're a great man.. wow these notes are amazzzzzzzzzzzing
Title: Re: Economics
Post by: schmalex on October 27, 2010, 02:38:17 pm
I haven't finished economics yet, but i honestly can't see anything in the course that you couldn't learn if you study hard.
Title: Re: Economics
Post by: mumakai on October 27, 2010, 03:36:53 pm
I haven't finished economics yet, but i honestly can't see anything in the course that you couldn't learn if you study hard.

i agree
Title: Re: Economics
Post by: eadvice on October 27, 2010, 03:40:35 pm
Your welcome Hutchoo, hope to see you on the site more often:)
Title: Re: Economics
Post by: Hutchoo on October 27, 2010, 04:39:53 pm
You'll definitely see me there a fair bit next year ;)