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Economics essays

Introduction to literacy skills and economics essays.

Matthew Parsons

on 26 May 2010

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Transcript of Economics essays

Economic terms Evidence Economic terms you open the exam paper. You see the question..... What do you do next? Think of it like planning a journey. every discipline has a special vocabulary when writing your answer you use economic terms to demonstrate your knowledge now you know how to prepare for, plan, and write economics essays. economics has a wide range of special terms, and you must use them. Model interest rates How to Start? next we need to talk about vocabulary... so, having a mental model of causes and effects is step 1 Vocab & Evidence With that knowledge of economics, causes and effects, and a range of memorised key facts and history, it's time to examine the exam essay process... The six things... Let's look at the Australian economy the first thing you need to do is to understand the connected nature of economics. you learn a lot of separate concepts in economics but they are all actually connected in practice. being connected means that if you change one thing, several other things change as well. 3. learning to write great economics essays does not start with what you do in the exam room...

it starts long before that....

it starts here. Building a mental model model First Step: Click on Insert, and 'Load File' to upload an image You can use shapes, arrows too Vocabulary but use them correctly or you lose marks Message Evidence Evidence Conclusion Start learning terms NOW Review articles in The Economist and note how economic terms are integrated in the text. A tip... Exam essay process 4 steps... I would like to show you how you can improve your economics essays. my name is Zoey.
Do you have 15 minutes? Hi, Economic decisions have a crucial influence on the quality of life experienced by people throughout the world. The study of economics can help individuals, groups and societies make choices that assist them to improve their quality of life.
so what are you expected to be able to actually do? 1. There are six things you are expected to be able to do: and these are the things which are tested in the essay questions. 2. understand the background and implications of contemporary economic issues
discuss appropriate policies to solve economic problems and issues
understand what a change in interest rates, share values or the value of the Australian dollar means to individuals and the economy
identify fluctuations in the global and Australian economies and their likely effects on business
understand reasons for changes in employment patterns
identify, using economic thinking, appropriate strategies to protect the natural environment. choices and impacts are important... I know, you're thinking pigs might fly.... UP Exchange rate causes Imports causes Exports causes Home building, property prices UP UP Down Down the good news is you can do it! ...and don't forget:
there is a lot to
explore in Prezi Australia United States China 1 trillion Exports 161b Major exports Major destinations Services
Education Imports 9 trillion 14 trillion India 3.6 trillion 161b Major exports Major destinations Here we are at 1 trillion GDP Germany 2.8 trillion UK 2.1 trillion Japan 4 trillion An economy has many measures of activity, and measures of value... let's take a closer look Measures of activity Measures of confidence Business confidence
Consumer confidence GDP
GDP growth rate
GDP per capita
Retail sales
Property sales
Unemployment rate
Bankruptcy rate
Manufacturing output
Property values (growth)
Resource prices (growth)
Stock prices (All ords) (growth)
Exchange rate - value
Inflation Measures of value Business confidence
Consumer confidence GDP GDP Growth rate GDP per capita Retail sales Property sales Unemployment rate Bankruptcy rate Manufacturing output Imports Exports Property values Resource prices Stock prices Exchange rate Interest rates Inflation Changing one thing has many, many impacts Your essay answer will consider causes and effects. The effects of a policy change, a budget deficit, or an interest rate change are BOTH short term and long term. These are all connected and related fiscal policy Introduction Economic terms Economic terms Argument CAD Deficit Phillips curve Terms of trade Create a glossary of terms and allocate time to learn them, and how to integrate them. ...note the cause and effect language... And the use of EVIDENCE. Evidence can be statistics, a chart, or an example of a period of history. For an exam essay, you MUST have memorised a wide range of evidence to draw from. When learning evidence, for example about unemployment, think in threes. 3 Learn
the number now (6%),
the OECD average (8%) AND
how unemployment has moved in Australia's economic history. Charts are readily available from the ABS or Treasury websites. Read and decode the question Read and decode the stimulus Spend 5-10 minutes planning
spend 25-30 minutes writing from your plan
The words in the question are like code - if you know the code, you can understand what the question is asking you to do. For example, evaluate means to establish a criteria, apply it, and then make a judgment.

If you don't know the code, you would have a small chance at giving the examiner what they want. Every essay question will have some stimulus material, like a chart or a table of statistics. 2009 HSC exam There are many more! The government and the RBA play key roles in setting policy, interest rates, spending and borrowing in an effort to manage the economy.

The next picture shows just some of the connections!!!! Let's take a look at the exam paper.... 1 2 3 4 A defintion of every exam verb (like evaluate) is on the Board of Studies website.

you must learn what each of these means for your essay; and

you must, must, must decode the exam question Here's the rubric Draw two rectangles on the inside cover of the exam booklet... The top and bottom boxes remind you of intro and conclusion. dot point your paras here.

dot point your relevant evidence here

What other perspectives or models exist?

Add to the list how you will address them

1 2 4 decode the question

3 Now you have decoded the question, identified your paragraphs and evidence (including the stimulus info) and also considered other perspectives or contrary views you will address. And the stimulus info here's the rubric then consider 1 - 4
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