VCE Economics Past Exam Questions
Browse VCE Economics exam questions from 2015–2025, including VCE papers. Filter by topic, year and paper; open the original source.
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Section B, Question 3(c)Question part (c)
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Report-based difficulty · EasyAverage marks: 73.3% of available · official reportFull marks: 46% of students · official report
c. In 2025, large parts of Australia were affected by severe climatic conditions such as tropical cyclones and flooding. With reference to cost inflation, examine how the achieveme
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 3(d)Question part (d)
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 11% of students · official report
d. Evaluate the extent to which the goal of full employment has been achieved in Australia over the past two years and the impact on living standards. 6 marks Section B
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 4
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Estimated difficulty · Medium
Question 4 continues on the next page. Question 4 (12 marks) Australia’s terms of trade index increased from 89.4 in the September quarter to 91.0 in the December quarter of 2024.
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB)Section B, Question 4(a)Question part (a)
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Report-based difficulty · MediumAverage marks: 65% of available · official reportFull marks: 50% of students · official report
a. Define ‘terms of trade’. 2 marks
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 4(b)Question part (b)
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Report-based difficulty · MediumAverage marks: 50% of available · official reportFull marks: 38% of students · official report
b. Outline one factor that might explain the change in the terms of trade between the September and December quarters in 2024. 2 marks
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 4(c)Question part (c)
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Report-based difficulty · MediumAverage marks: 43.3% of available · official reportFull marks: 24% of students · official report
c. Explain one effect that the change in the terms of trade might have on the achievement of the goal of low and stable inflation. 3 marks Section B
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 4(d)Question part (d)
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Report-based difficulty · MediumAverage marks: 48% of available · official reportFull marks: 7% of students · official report
d. To promote greater international competitiveness, trade liberalisation typically involves the reduction or removal of barriers to trade (such as tariffs). The reintroduction of
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 5(a)Question part (a)
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 46% of students · official report
a. When discussing the operation of monetary policy, interest rates are sometimes described as a ‘blunt instrument’ and a weakness of monetary policy. Other than being a blunt inst
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 5(b)Question part (b)
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 19% of students · official report
b. Analyse the RBA’s monetary policy stance over the last two years and its effect on the achievement of the goal of full employment and on living standards. 5 marks
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 6(a)Question part (a)
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Report-based difficulty · MediumAverage marks: 45% of available · official reportFull marks: 36% of students · official report
a. Describe one reason why the actual budget deficit for 2025–2026 may be smaller than the government’s estimated $42.1 billion budget deficit for 2025–2026. 2 marks
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 6(b)Question part (b)
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Report-based difficulty · MediumAverage marks: 62.5% of available · official reportFull marks: 33% of students · official report
b. Predict how one discretionary stabiliser from the Australian Government’s 2025–2026 budget is likely to affect Australia’s domestic macroeconomic goal of strong and sustainable
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)Section B, Question 6(c)Question part (c)
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Report-based difficulty · DifficultAverage marks: 38.3% of available · official reportFull marks: 6% of students · official report
c. In a period of global economic uncertainty, analyse the strengths and weaknesses of aggregate demand policies in achieving the goal of low and stable inflation. 6 marks
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2025 VCE Economics examination (PDF, 375.56 KB) · Report: 2025 VCE Economics external assessment report (DOCX, 117.06 KB)How to use ClassConnect past exam questions
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