And why many answers stalled halfway through
One of the most revealing parts of the 2024 VCE Economics exam was how students handled questions that looked straightforward but were doing much heavier assessment work underneath.
The examiner’s report makes it clear that these were not trick questions. They were questions designed to test whether students could apply the Study Design under pressure. Many could not, even when the content itself was familiar.
The policy effectiveness question that capped marks
A key extended-response question in the 2024 exam asked students to assess the effectiveness of a government policy in addressing an economic problem shown in the stimulus material.
On the surface, this was familiar ground. Most students correctly identified the policy type and explained how it operates in theory. Many responses included appropriate diagrams or references to aggregate demand.
However, the examiner’s report notes that a large proportion of students stopped at explanation. They explained the mechanism, but never properly assessed effectiveness.
The question was not asking whether the policy works in general. It was asking whether it was effective in the situation described.
Students who failed to anchor their response to the economic condition shown in the data were unable to access the higher mark range.
Where students went wrong in practice
According to the examiner commentary, weaker responses showed the same pattern.
Students:
- explained the policy accurately but generically
- did not refer back to the economic data provided
- failed to consider time lags or limitations
- avoided making a clear judgement
These responses demonstrated knowledge of Economics, but not economic decision-making.
The Study Design expects students to evaluate policy in context. When that context is ignored, marks disappear quickly.
The data interpretation question students underestimated
Another revealing question in the 2024 exam required students to use provided data to explain an economic trend.
Many students correctly described what the data showed. They identified increases, decreases and comparisons accurately.
What the examiner’s report highlights, however, is that description was not enough.
High-scoring responses used the data to support an explanation about economic conditions. They linked figures to inflationary pressure, growth performance or labour market outcomes. Lower-scoring responses left that connection implicit or did not make it at all.
The difference between describing data and using it was the difference between mid-range and high-range marks.
Why these questions were harder than they looked
These questions were difficult not because they were unfamiliar, but because they required restraint and precision.
Students who wrote everything they knew often drifted away from the task. Students who slowed down and selected only the most relevant ideas performed better.
This aligns directly with the Study Design, which rewards application, prioritisation and judgement rather than coverage.
What the strongest 2024 responses did differently
The examiner’s report points to consistent strengths in high-scoring responses.
They:
- identified the economic condition first
- used data selectively to support claims
- explained policy mechanisms in context
- acknowledged limitations or lags where relevant
- finished with a clear evaluative judgement
These students did not write more. They wrote with control.
The lesson from these questions
The 2024 exam showed that students cannot rely on familiarity alone.
A question that looks simple often carries multiple layers of assessment. Task words matter. Data matters. Context matters. Judgement matters.
Students who miss any one of these elements give up marks they cannot recover elsewhere.
What this means for Economics preparation
Students preparing for VCE Economics need to practise answering questions exactly as they are written, not as they expect them to be.
That means:
- reading the task word carefully
- identifying what the data shows about conditions
- tailoring policy explanations to that context
- making a judgement when required
Without this adjustment, strong theoretical knowledge will continue to be under-rewarded.
Working with ATAR STAR
ATAR STAR Economics tutoring is built around dissecting real exam questions like those in the 2024 paper.
We teach students how to unpack what a question is actually assessing, how to use stimulus material properly, and how to finish responses in a way that earns marks.
The 2024 exam made this clear. VCE Economics rewards thinking, not familiarity.