Keeping Up with the Australian Economy

Feb 9, 2018

How to write a successful extended response and successfully analyse Australia’s economic conditions. Β 

Β 

In studying HSC Economics, you’re going to need to be able to integrate your economic theory with a close analysis of trends within the Australian economy to achieve top band results. To do so, it is advisable to develop a statistics table as early on in the year as you can, and regularly update it as the year progresses. This will ensure that you have relevant data to incorporate into your extended responses, and will provide you with an overview of Australia’s current economic landscape.Β 
Β 
In devising a statistics table, try to consult a variety of reliable economic sources, such as theΒ RBA websiteΒ andΒ Trading Economics.Β You should be looking at compiling a table, which ideally provides a trend, so a pattern or change in some kind of economic indicator, over some period of time. Some good indicators you may wish to examine are:
Β 
o Β  Economic growth rate
o Β  Unemployment rate
o Β  Participation rate
o Β  Headline and underlying inflation rate
o Β  GINI coefficient
o Β  Human Development Index
o Β  Exchange rate (TWI & Bilateral)
o Β  Terms of Trade
o Β  Budget outcome
o Β  Export compositionΒ 
o Β  Minimum wage
o Β  Employment growth
o Β  Cash rate
o Β  Australian portfolio and direct investment (incoming and outgoing)
o Β  Foreign debt as a percentage of GDP
o Β  Balance of Payment Components (eg CAD, BOGS, NPI, CAFA).
Β 
Β 
An awesome way to memorise these statistics and to incorporate them in to your essay is to link them up to a world event. For example, have a look at how a key economic event, such as the Global Financial Crisis or the mining boom, impacted upon these indicators and reshaped the Australian economic landscape.
Β 
Additionally, critically analysing government policies that have been used to address economic conditions (so looking at their positive and negative implications) will provide improved sophistication to your responses.Β 
Β 
Finally, it would be beneficial toΒ set up a Google alertΒ on a specific economic issue, to receive an email notification for new articles and content that emerges relating to it.Β 
Β 
Β To do this:
1.Β  Β  Β Log ontoΒ www.google.com/alerts
2.Β  Β  Β Insert a search term for the topic that you are interested in
3.Β  Β  Β Select β€˜show options’ and follow the prompts to elect the frequency and types of notifications that you will receive
4.Β  Β  Β Select β€˜create alert’.
Β 
Above all, it is critical to be practicing drafting a variety of economics essays, and acquiring feedback on them. Doing so will ensure you are able to establish an appropriate balance between theory, content, statistics and trends, and hence receive strong marks in your extended responses.Β 
Β 
Β 
Submitting your responses to ourΒ 24/7 HSC marking serviceΒ on the CoWorks portal will enable you to receive comprehensive feedback and suggestions from experienced HSC Economics markers, and help you to get the results that you’re after.Β 

“Let’s Talk About the HSC”

The ultimate podcast for students and parents navigating the journey of the HSC. Presented by HSC CoWorks, each episode dives into the challenges and triumphs of the HSC experience, offering expert advice, study tips, and insights into achieving academic success.

Whether you’re preparing for exams, managing stress, or looking for ways to stay motivated, this podcast is your go-to guide for all things HSC. Join us as we chat with educators, students, and professionals to help you thrive during this important academic milestone!

Instagram

JOIN OUR APRIL HOLIDAY BOOTCAMP πŸ₯ΎπŸ’ͺ🏻 & make some serious progress with your HSC prep these holidays! 
April 14-17 10am-2pm |  Final places remaining in Bondi & Chatswood! Link in bio πŸ‘†πŸΌπŸ€©
Available for Year 11 & 12 |  Available for members & non-members
WE ARE HIRING!
Are you a 2024 HSC graduate who wants to make a real impact whilst getting great experience and learning skills to support you land a grad role?
HSC CoWorks Mosman & Balgowlah are on the lookout for inspiring and enthusiastic Coaches to join our team!
If you:
βœ… Crushed the HSC in 2024
βœ… Love helping others succeed
βœ… Bring good vibes, energy, and communication skills
βœ… Want to build your resume and leadership skills
Then we’d love to hear from you!
πŸ“ Positions available at both Mosman and Balgowlah campuses
πŸ“† Must be available during July 2025
Tag a friend who should apply or follow the link in our bio to learn more. 
#CoachingJob #HSCmentor #MosmanJobs #BalgowlahJobs #HSCsuccess
πŸ’₯UNLOCK YOUR HSC SUPEROWERS πŸ’₯
When we see others achieving the success we want, it’s easy to assume they have something special.  But the truth is, they don’t have any superpowers that you don’t also possess! 
πŸš€ Link in bio to learn how to disover your HSC potential!πŸš€
πŸš€ April Bootcamp: Set Yourself Up for Success! πŸš€
The April Holidays are a prime time for Year 12 students to get ahead before the busiest term of the year! While a short break is important, ensuring you’re fully prepared for Term 2 is essential.
At our April Mid-HSC Bootcamp, you will:
βœ… Build essays for upcoming texts & modules
🎯 Practice exam-style responses to sharpen your skills
πŸ’‘ Ensure you’re 100% ready to tackle Term 2 with confidence
πŸ“’ Year 11s, this is your chance too! With 33% of the year done, now is the time to consolidate your learning, strengthen your foundation, and get ahead.
Join us for a structured, high-impact session to stay on track, boost confidence, and master your subjects!
πŸ”— Link in Bio