I'm looking for the old VCAA study design for economics, because I want to compare it to the new one. I can't find it on the VCAA website. If anyone has it downloaded, can you please post it up or link me to it?

Thanks so much!

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1 Answer

You may struggle to find the old study design but our class has gone through everything which is new to the study design as they are likely to test some of it, if not all of it this year. Also, I have a handout from a revision lecture run by THE Mr Wood :p and he lists things he think will be tested (new to the course) as he used to write the exams, they include;

-Alternative measures for growth (i.e. GPI & MAP)
-Labour force under-utilisation rate (He said we wont have to calculate it but there may be a question regarding hidden unemployment)
-Trade barriers
-Henderson poverty line
-All the new AS policies (environmental+immigration policy)
-Micro factors v Macro factors (He also said it is important to understand how the specific micro demand/supply factors listed in the new study design affect different markets)
-Reasons for pursuing goals
-Market structures (i.e. oligopoly, pure monopoly etc.)
-Market failure goes into heaps more depth in the new study design so make sure you understand the different causes of market failure (i.e. public goods, asymmetric information)
-Asymmetric information is completely new to the study design and Mr Wood guarantees there will be a Multi Choice question on it if not, a small short answer question.
-Important as well to note, is knowing that not all externalities are negative!! A multi-choice question in a past exam a large portion of the state got wrong, some externalities are positive i.e. education.

Hope this helps :)

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