Economics exam discussion

[theshunpo]

Strange question, no, it's should matter so long as you didn't write anything particularly obscene. Why? MCs are marked using the separate sheet you filled out.

My interpretation is that he/she didn't use the MC sheet and circled the answers on the booklet instead. (Correct me if i'm wrong)

[nikegod]

My interpretation is that he/she didn't use the MC sheet and circled the answers on the booklet instead. (Correct me if i'm wrong)

I suppose they might have, but since they said "I'm screwed if they do", it could be something else. Probably a typo though, you're right.

[wz_t2]

Well I got full on the multis, really hoping for study score of high 40s, maybe 47, what do you guys reckon I need out of 90 in the exam for that?

[abcdqdxD]

Well I got full on the multis, really hoping for study score of high 40s, maybe 47, what do you guys reckon I need out of 90 in the exam for that?

you can drop around 4 marks in total

[wz_t2]

you can drop around 4 marks in total

would you definitely need 90/90 for a fifty then?

[abcdqdxD]

would you definitely need 90/90 for a fifty then?

varies year to year, 88-90/90

[chasej]

hey. does anyone have a copy of the exam? am interested to take a look.

[sam.utute]

would you definitely need 90/90 for a fifty then?

Premier's Award in 2010 was 88.5. In 2011 it was 88.

[abcdqdxD]

Premier's Award in 2010 was 88.5. In 2011 it was 88.

And last year I know someone who got 90/90 with no prems

[spectroscopy]

And last year I know someone who got 90/90 with no prems

damn i hope they got that 50 tho, 90/90 deserves it

[M_BONG]

And last year I know someone who got 90/90 with no prems

SACs matter so much for Eco. I know someone who got a 43 with an 87/90 (MHS as well) . and yet Abcd I know you got 85/90 and got a 47.... *sorry, I literally memorise all the scores from the statement of study scores thread, don't get too creeped out, haha*

So yeah Eco is pretty competitive that SACs actually matter, lol.

[Jaysit97]

Supply decreases because people are less willing to sell their AUD as it is a profitable investment. Note that this is a shift in supply (not a movement).

I got a different answer for this mc too. My eco teacher constantly stressed that a movement along the curve is called an increased demand/supply whereas a right/left shift in the whole curve would be called an increase/decrease in demand or supply so given the possible answers I concluded it was a increase in demand and a movement along supply (ie increased supply)…

[abcdqdxD]

I got a different answer for this mc too. My eco teacher constantly stressed that a movement along the curve is called an increased demand/supply whereas a right/left shift in the whole curve would be called an increase/decrease in demand or supply so given the possible answers I concluded it was a increase in demand and a movement along supply (ie increased supply)…

Movement along a curve is called an expansion or contraction, shifts are called increase or decrease. It's also important to realise in this case even if demand increased (shift to the right) it wouldn't necessarily translate into a higher quantity traded. This is because suppliers are less willing to engage in trade (shift in supply curve to the left). Hope this clears things up.

[nikegod]

Movement along a curve is called an expansion or contraction, shifts are called increase or decrease. It's also important to realise in this case even if demand increased (shift to the right) it wouldn't necessarily translate into a higher quantity traded. This is because suppliers are less willing to engage in trade (shift in supply curve to the left). Hope this clears things up.

What got me, was thinking that a higher AUD would make suppliers more willing to sell, since they stand to make greater profit per unit of currency. Consequently, I assumed that supply would increase. I didn't consider the improvement in their investment as being a factor that would decrease supply (or think of it at all) - although I did spend the last 5 minutes staring at this MC trying to determine whether it was an increase or a decrease. I made the wrong choice haha.

I didn't pick up on the 'increase' either, I suppose that was the clue - what I described was an expansion in supply.

[jia0020]

It was a good exam with good balanced questions.

The most problematic question for me (and my class) was the one about Transmission Mechanisms. But I talked about Buying/Selling Government Securities so I should be fine.

Did anyone else think that the MC questions were easy this year?