Economics 2014

[pp_16]

I'm doing it! What's everyone aiming for?

[Politics]

Also doing it this year, pretty keen to get started in a month or so!

[LastOfUs]

I'm doing it! What's everyone aiming for?

Wooooo! I'd love a 42. The kids in my economics class are actually 'genius' shown by their year 11 study scores (for their subjects) and year 11 results and they'd all be aiming for at least 45, or at least 1/2 the class. Knowing these kids put a tonne of time in all their subjects with me knowingly going into the subject being aware they WILL score very highly, it's slightly motivating wanting to destroy these kiddos for the first time when I put my foot down so that would be awesome. I doubt I could be #1 in cohort but it would be so satisfying competing and equaling/beating them in the SACS.

[abcdqdxD]

Hi all,

I also completed Economics last year and did reasonably well.

I found that making a set of comprehensive notes before each SAC and learning them really helped me. Economics may involve a fair bit of reading, so it is often a good idea to highlight key points or read other textbooks to gain a more thorough understanding of the subject. Personally, I used Economics Down Under, Fundamentals and the Indigo study guide to help me through my studies.

Like chasej said, Economics - unlike other subjects - does not require a great deal of practice SACs/exams to do well. Before each SAC, I probably did around 1-2 practice ones to make sure I'm able to articulate my responses in a coherent manner. For exams, I did one practice paper (the 2012 VCAA exam) and tackled some difficult questions my friends and Ithought of. Unfortunately, I didn't do any practice papers to time and consequently almost ran out of time in the real exam.

My biggest tip would be to just enjoy the subject. I think Economics is both liberating and revolutionary. Liberating because it forces you to perceive the world in a different light, revolutionary because our futures hinge on the very cornerstone of our economy. Good luck to the class of 2014!

[finishedschool]

I thought I'd also give some advice. I found Economics to be one of my more enjoyable subjects this year in the sense that it has very obvious real life application, and you are able to appreciate the complexities of economic decision making. I think it's one of the best VCE subjects you can take.

In terms of advice, my main suggestion is that you are aware of the entire study design, and that there are no gaps in your knowledge. I found that I didn't refer to the English or Specialist maths study designs this year, but I was constantly referring to the Economics one.

Overall, I don't think that the course is that long. I found that once I finished it and started exam preparation, there were many similarities between sections of the course. I would especially recommend studying concepts in depth, and extending yourself beyond the study design. Examiners definitely enjoy high level analysis + exploring all parts of the question. That being said, avoid making your answers convoluted. Being able to concisely express economic concepts and reduce waffle is a very good skill in this subject.

[pp_16]

Is it important to use lots of current examples in answers to questions in 3/4 Eco? I did do this in 1/2 but just want to clarify if this will help achieve high marks in 3/4.

[abcdqdxD]

Is it important to use lots of current examples in answers to questions in 3/4 Eco? I did do this in 1/2 but just want to clarify if this will help achieve high marks in 3/4.

yes

[sam.utute]

Is it important to use lots of current examples in answers to questions in 3/4 Eco? I did do this in 1/2 but just want to clarify if this will help achieve high marks in 3/4.

If you look at the 2013 Exam, it required you to understand and explain the major economic events of the past year (two-speed economy, mining etc.).

[TazzyGirl]

Do you think it's necessary to go to the Economics Summer School programs? (Either TSSM or TSFX). I'm rather confident in eco, and these lectures are pretty expensive. Are they worth it?

[LastOfUs]

Do you think it's necessary to go to the Economics Summer School programs? (Either TSSM or TSFX). I'm rather confident in eco, and these lectures are pretty expensive. Are they worth it?

No. Are you confident in your future ability in economics or have you already established a bearing around the 3/4 course? If you've already got a grasp of the 3/4, I'm rather jealous of your commitment.

[chasej]

Do you think it's necessary to go to the Economics Summer School programs? (Either TSSM or TSFX). I'm rather confident in eco, and these lectures are pretty expensive. Are they worth it?

If you're confident and feel that you're ok with the content than there's really no reason to go.

[dantan]

Just to put in my two cents worth, I'm always around if anyone needs an inbox etc.

Just to allay your fears in terms of it being boring, I think you'll find firstly that 3/4 has much greater depth compared with 1/2. Secondly, once you master (key word being master), I think you'll find that there's no real end to how you can apply your knowledge to the real world, and that I think is what is truly fascinating about the subject! So something to look forward to And good luck everyone!

[millie96]

What work are you all planning to do in the holidays for eco? (How far into the course?)

[abcdqdxD]

What work are you all planning to do in the holidays for eco? (How far into the course?)

My school was really slack and gave us no holiday homework (ikr) but I still did alright.

I don't think it's that important to learn ahead in the early stages. What I found was most of Unit 3 was a repeat of Units 1/2 and I was able to accelerate a bit relative to my class even without doing extra work. So if you did 1/2, you should learn most of unit 3 a lot quicker.

And as dantan suggested, knowing the content and mastering the content are two different beasts. To actually know everything inside out takes a huge amount of time, not just reading the textbook and doing a few questions/practice SACs.

The best thing you could do in the holidays is to read over half of Unit 3 which you should already be familiar with. This should freshen up the fundamental concepts and leave you in good stead for the rest of the year.

Regarding the earlier question about TSFX, I would heavily recommend against it. In my experience, Eco lectures are terrible and most of the work can be done at home by yourself.

If anyone has any eco-related questions, feel free to chuck me a PM

[dantan]

In terms of actual coursework I think you should be doing over the holidays if you have time:

Spend some time mastering basic micro and basic macro. I say master because these two conceptual areas form the basis of basically the rest of the course. It is honestly paramount that you know all this stuff inside out so when it comes to building on top of it (i.e. more complicated concepts, current events, scenario/real world applications etc.) it's much easier. I generally don't like to let my students progress too much beyond those two areas until they've mastered it; it's really that important!

Otherwise, familiarizing yourself with the current economic climate and getting some rest/having some fun would be the other things I'd be doing