Assessment and exam practice.

Try this with Economics

1. Check the task format, time limit and permitted materials with your school.
2. Start with one timed section or task and record where you spent the most time.
3. Review errors before attempting another section. Separate missing knowledge from timing problems.

View Economics resources on ATARMAXXING ↗

Practice paper focus areas

• Exam 1 — Monetary policy transmission channels and RBA cash rate mechanism; AD/AS model — demand-side shocks and policy responses; Macroeconomic objectives: price stability, full employment, economic growth, external stability, equitable income distribution
• Exam 2 — Fiscal policy — expansionary budget stance, budget deficit, automatic stabilisers, crowding out; AD/AS model — aggregate demand shifts, multiplier effect, demand-side shocks; Macroeconomic objectives — economic growth, full employment, price stability, external stability, equitable income distribution
• Exam 3 — International trade theory — comparative advantage and gains from trade; Effects of tariff elimination on domestic producers, consumers and government revenue; Balance of payments — current account, trade balance, terms of trade
• Exam 4 — Labour market analysis — underutilisation rate, unemployment types, discouraged workers, hidden unemployment; Wage determination — labour market equilibrium, wage-price spiral, productivity-wage nexus; AD/AS model — aggregate demand and supply shifts, output gap identification, price level effects
• Exam 5 — Monetary policy dilemma: supply-side inflation vs. demand management; AD/AS model — negative supply shock and stagflation; RBA cash rate transmission channels
• Exam 6 — Current account deficit causes and consequences; Exchange rate determination under Australia's floating regime; Balance of payments structure and interpretation
• Exam 7 — Fiscal policy: budget surplus, contractionary fiscal stance, automatic stabilisers; Aggregate demand/aggregate supply model: demand-side shocks, shifts in AD; Macroeconomic objectives: economic growth, full employment, price stability, external stability, equitable income distribution
• Exam 8 — Exchange rate determination under Australia's floating regime; Balance of payments — current account, capital and financial account, net foreign liabilities; External stability as a macroeconomic objective
• Exam 9 — Balance of payments structure and current account components; Services exports: education, tourism, professional services; Current account deficit and net foreign liabilities
• Exam 10 — International trade theory — absolute and comparative advantage; Trade barriers — tariffs, welfare effects, deadweight loss; Balance of payments structure — current account, capital and financial account
• Exam 11 — Monetary policy transmission mechanisms and limitations; RBA cash rate decisions and household debt; Fiscal policy as an alternative macroeconomic tool
• Exam 12 — Microeconomic supply-side reform: competition policy and electricity sector deregulation; Long-run aggregate supply (LRAS) shifts and productivity growth; Price level effects of supply-side reform
• Exam 13 — Stagflation: simultaneous rising inflation and rising unemployment; Fiscal policy: budget stances, automatic stabilisers, crowding out, limitations under stagflation; Monetary policy: RBA cash rate, four transmission channels, lags, limitations under stagflation
• Exam 14 — Labour market reforms and enterprise bargaining; Wage growth and real household income; Consumption and aggregate demand (AD/AS model)
• Exam 15 — Exchange rate determination under Australia's floating regime; AUD depreciation transmission mechanism; Iron ore prices and terms of trade
• Exam 16 — Automatic stabilisers — means-tested income support payments (JobSeeker, Youth Allowance) as automatic fiscal stabilisers during economic contraction; Discretionary fiscal stimulus — lump-sum transfers, infrastructure spending, tax cuts; multiplier effects and lags; AD/AS model — demand-side shocks, shifts in aggregate demand, equilibrium output and price level
• Exam 17 — Income inequality and Gini coefficient measurement; Redistributive fiscal policy — progressive taxation, transfer payments, government spending; Federal budget stances and automatic stabilisers
• Exam 18 — Balance of payments — capital and financial account structure (FDI, portfolio, other investment, reserve assets); Net foreign liabilities (NFL) — composition, measurement, and implications for external stability; Foreign direct investment (FDI) inflows into Australia's resources sector
• Exam 19 — International Economics: absolute and comparative advantage, trade patterns, exchange rate determination under floating regime; Balance of payments: current account deficit, net foreign liabilities, external stability; Trade barriers: tariffs, quotas, subsidies, WTO, trade agreements
• Exam 20 — Technology-driven productivity growth and long-run aggregate supply (LRAS); AD/AS model — supply-side shifts, real GDP, price level, employment effects; Macroeconomic objectives: economic growth, full employment, price stability