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The report also emphasizes accurate task interpretation, targeted responses, and using required references like charts and tables to improve exam outcomes.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/exam/","Exam",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/2023-vce-economics-external-assessment-report-general-comments/315148/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/2023-vce-economics-external-assessment-report-general-comments/315148.png","ImageObject",300,407,{"name":42,"@type":43},"Kurz","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-29","2026-09-20",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",7,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"How did students perform overall in this Economics external assessment?","Question",{"text":63,"@type":64},"Students performed reasonably well overall, particularly in Section B, while many items in Section A multiple-choice questions were not handled well. The report highlights a need for more targeted practice for these question types.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"Which key knowledge areas were linked to common difficulties?",{"text":68,"@type":64},"The report points to difficulties involving inflation consequences, differences among types of government expenditure and transfer payments, factors influencing aggregate supply, labour force underutilisation rate calculation, balance of payments transaction recording, causes of cyclical unemployment, and cyclical influences on the current account balance.",{"name":70,"@type":61,"acceptedAnswer":71},"What exam-writing habits are recommended to achieve higher marks?",{"text":72,"@type":64},"Responses should directly address the specific question, interpret task words accurately, include appropriate knowledge, and demonstrate required skills. Students should also include explicit references when required (e.g., charts or tables) and avoid irrelevant material beyond the question scope.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},315148,1790198230,{"code":4,"msg":82,"data":83},"success",[84,88,92,95,100,105,109,114,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":93,"slug":94},70,"exam",{"id":96,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},5,"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},"Healthcare",40,"healthcare",{"id":110,"doc_module":4,"doc_module_name":25,"category_name":111,"show_sort_weight":112,"slug":113},8,"Research & Report",30,"research-report",{"id":115,"doc_module":4,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},9,"Religion & Spirituality",20,"religion-spirituality",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":120,"show_sort_weight":117,"slug":121},"World Cup","world-cup",{"id":123,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":123,"slug":125},10,"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":96,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":33,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":139,"language":140,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":12,"update_tm":144,"read_time":145,"preview_page_count":4},2336478945635,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","2023 VCE Economics external assessment report  \nGeneral comments  \nStudents performed reasonably well in the examination , particularly in Section B, where students were able to respond to most of the questions in a meaningful way. However, in Section A, many of the 15 multiplechoice questions were not well handled, suggesting that students need to spend more time practising the skills required to effectively answer these types of questions.  \nIn particular, students had difficulties with Questions 2 , 3 , 5 , 6 , 7 , 8 and 11 , suggesting that teachers and students should also carefully revise the following key knowledge areas as part of examination preparation:  \n􀁸 the consequences of a high rate of inflation (Question 2)  \n􀁸 the difference between government current expenditure, government capital expenditure and transfer payments  \n􀁸 factors influencing aggregate supply (Question 5)  \n􀁸 the meaning and calculation of the labour force underutilisation rate (Question 6)  \n􀁸 the recording of transactions in the balance of payments (Question 7)  \n􀁸 the causes of cyclical unemployment (Question 8)  \n􀁸 cyclical factors influencing the current account balance (Question 11) .  \nMost students both attempted all questions within Section B and were able to structure responses well, address all components of a question accurately and make productive use of the extra space at the end of the booklet. Students are reminded that it is acceptable to write below the lines provided before using the extra writing space at the back of the booklet, if there are only a few words to add.  \nStudents need to provide responses that directly address the specific question being asked, incorporate accurate interpretation of task words , include appropriate knowledge and demonstrate the skills required within the question. Inclusion of material that is irrelevant or beyond the scope of the question being asked will not add value to a response. For example, in Question 1a. , all that was required was identification of the stage of the business cycle for the Australian economy since July 2023 , while also making reference to ‘at least one economic indicator’. Responses describing all stages of an economy’s business cycle and/or the effects of being in a specific stage of the business cycle wasted valuable writing time and space. Similarly, in Question 3b. , students were required to analyse how Australia’s recent unemployment rate and inflation rate influenced the stance of aggregate demand policies. Many students went beyond the scope of the question by exploring the following types of areas/issues in some detail:  \n􀁸 how the Reserve Bank of Australia ( RBA) raises the cash rate and interest rates in the economy  \n􀁸 how the increase in interest rates helps to restrain Aggregate Demand (AD) via the transmission channels  \n􀁸 how the government’s recent budget outcomes will influence AD or Aggregate Supply (AS) and the achievement of the economic goals.  \nThe time taken in adding these details could have been used more productively in answering other aspects of the examination.  \nIt is important to read each question thoroughly and consider the intent before beginning any response. A number of students misinterpreted questions , and/or did not address all parts of a question , resulting in  \n2023 VCE Economics external assessment report  \ninaccurate responses. For example, Question 4b. required students to analyse how one non-price factor will cause a leftward movement along the demand curve for new houses. Many students misinterpreted this and instead answered the following question: ‘analyse how one non-price factor will cause a leftward shift of the demand curve for new houses’.  \nWhen interpreting questions , students must directly address the specific question in its entirety. There were numerous instances where some or all aspects of a question were not addressed by students , which prevented them from achieving full marks. For example:  \n􀁸 Question 2","cbCaipS4jFEmifaA","https://ap.wps.com/l/cbCaipS4jFEmifaA","pdf",355939,22,"English","# General comments\n## Student performance overview\n## Key question difficulties and knowledge areas\n## Response strategies and interpreting task words\n## Examples of common misinterpretations and missing requirements","[{\"question\":\"How did students perform overall in this Economics external assessment?\",\"answer\":\"Students performed reasonably well overall, particularly in Section B, while many items in Section A multiple-choice questions were not handled well. The report highlights a need for more targeted practice for these question types.\"},{\"question\":\"Which key knowledge areas were linked to common difficulties?\",\"answer\":\"The report points to difficulties involving inflation consequences, differences among types of government expenditure and transfer payments, factors influencing aggregate supply, labour force underutilisation rate calculation, balance of payments transaction recording, causes of cyclical unemployment, and cyclical influences on the current account balance.\"},{\"question\":\"What exam-writing habits are recommended to achieve higher marks?\",\"answer\":\"Responses should directly address the specific question, interpret task words accurately, include appropriate knowledge, and demonstrate required skills. Students should also include explicit references when required (e.g., charts or tables) and avoid irrelevant material beyond the question scope.\"}]","2023 VCE Economics external assessment report - General comments | PDF",1789903504,55]