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QCE Economics · Year 12

QCE Economics: what actually gets examined

Every question from 4 official QCAA papers, coded by topic, area and marks — so you can decide what to revise from evidence rather than a feeling.

4 QCAA papers, 2022–2025 · 61 questions · 247 marks

Three topics carry 80% of the marks in QCE Economics, Fiscal policy, Monetary policy and Supply side and microeconomic policies are where the paper spends its marks. Start there.

Counted from 4 official QCAA Economics papers (2022–2025). 61 questions, 247 marks. Nothing estimated.

4 of 9areas in every paper on file
85marks in the single biggest area
10multiple choice marks, every paper

The cognitive verbs that carry the paper

Share of written-response questions by QCAA cognitive verb, matched against QCAA's own Cognitive verb framework. Revising the content without revising the directive is how marks get lost. The lower / middle / higher grouping is ours — QCAA publishes the list but does not band it. Based on the 62% of written responses that open with a listed cognitive verb; the rest open with wording outside it, such as a direct question.

Explain31% · 4qmiddle order
Analyse15% · 2qmiddle order
Respond15% · 2qlower order
Use15% · 2qlower order
Describe8% · 1qlower order
Draw8% · 1qlower order
Identify8% · 1qlower order

Lower orderMiddle orderHigher order

Each tile is one key word; its size is that key word's share of written-response questions that open with one.

Where the marks sit

Each topic with its areas underneath. The bar is that area's share of its own topic, and the chip says how many of the papers on file examined it.

Topic 1: Macroeconomic objectives and theory

51 marks
Economic models and theory Every paper 19 marks

6 questions · 37% of this topic · Practise →

Unemployment Comes and goes 12 marks

3 questions · 24% of this topic · Practise →

Economic growth Comes and goes 6 marks

1 question · 12% of this topic · Practise →

Macroeconomic objectives and the economic cycle Comes and goes 5 marks

2 questions · 10% of this topic · Practise →

Inflation Comes and goes 5 marks

2 questions · 10% of this topic · Practise →

Economic indicators and measurement Comes and goes 4 marks

1 question · 8% of this topic · Practise →

Concept pages in this topic:

Study Topic 1: Macroeconomic objectives and theory →

Topic 2: Economic management

197 marks
Fiscal policy Every paper 85 marks

24 questions · 43% of this topic · Practise →

Monetary policy Every paper 70 marks

22 questions · 36% of this topic · Practise →

Supply side and microeconomic policies Every paper 42 marks

9 questions · 21% of this topic · Practise →

Concept pages in this topic:

Study Topic 2: Economic management →

Across 4 papers the topics carried 51, 197 marks.

How each area gets asked

The 6 biggest areas, by the shape of the questions actually set on them. Revising the content without revising the directive is how marks get lost — the cognitive verbs below are QCAA's own, counted from the papers.

Fiscal policy

Topic 2: Economic management · 85 marks across 24 questions

Asked as Multiple choice ×17 · Short answer ×1 · Extended response ×6

QCAA cognitive verbs Use ×2 · Identify ×2 · Respond ×1 · Describe ×1

Monetary policy

Topic 2: Economic management · 70 marks across 22 questions

Asked as Multiple choice ×16 · Short answer ×2 · Extended response ×4

QCAA cognitive verbs Explain ×2 · Analyse ×1 · Respond ×1

Supply side and microeconomic policies

Topic 2: Economic management · 42 marks across 9 questions

Asked as Multiple choice ×6 · Short answer ×1 · Extended response ×2

QCAA cognitive verbs Analyse ×1 · Use ×1 · Explain ×1 · Identify ×1

Economic models and theory

Topic 1: Macroeconomic objectives and theory · 19 marks across 6 questions

Asked as Multiple choice ×3 · Short answer ×1 · Extended response ×2

QCAA cognitive verbs Explain ×1 · Draw ×1

Unemployment

Topic 1: Macroeconomic objectives and theory · 12 marks across 3 questions

Asked as Multiple choice ×2 · Extended response ×1

Economic growth

Topic 1: Macroeconomic objectives and theory · 6 marks across 1 question

Asked as Extended response ×1

QCAA cognitive verbs Respond ×1

What the markers wanted

Queensland Curriculum and Assessment Authority publishes subject reports after each paper. This is our reading of the 2022–2025 feedback, in our words, grouped by topic and cited to the year and question it was seen in. It describes what markers rewarded in papers already sat; it does not predict the next one. The originals are linked below.

Across the paper

  • Marks came from interpretation, not restatement. QCAA repeatedly asked for the meaning behind a trend - why a rise or fall matters to someone - rather than a retelling of what the figures show
  • Movements in rates were a recurring source of error. A drop from six per cent to one per cent is not a five per cent fall, and a gap between two interest rates is not measured in the same unit as the rates themselves
  • Growth that is slowing is still growth. Reports noted answers that read a smaller rate of increase as a contraction, when only an actual decline counts as one
  • Definitions earned nothing on their own. Comprehension was credited for picking out the features that mattered or applying a model to the situation in front of the student
  • Diagrams needed to be finished: a title, labelled axes, and the shift or movement shown using the usual notation rather than left for the marker to infer
  • Context set in the question changed the answer. Where a scenario specified an unusual starting point, responses that answered the general case rather than that setting picked up only part of the marks

Topic 1: Macroeconomic objectives and theory

Better responses

  • Answers that named which kind of inflation the data pointed to, and justified that from the evidence supplied, did better than ones that discussed inflation in general
  • Trends were analysed well when students quantified them and anchored them to the dates given, then said what the movement meant
  • The basic demand and supply model was drawn accurately, with the intervention shown on the diagram rather than described beside it
  • Stronger responses treated an indicator as something to be judged, recognising what counts as a high reading against the Reserve Bank's target range

Where marks were lost — and how to keep them

  • Separating a change measured in percentage points from one measured as a percentage change, and using the right unit for a gap between two rates
  • Reading a falling rate of growth as continued growth rather than as a decline
  • Interpreting an indicator instead of describing it, so a figure is placed on a scale rather than simply reported
  • Completing the notation on a model so that each shift and each new equilibrium point is identified

Seen in 2025 Q13, 2025 Q15, 2022 Q13.

Practise Macroeconomic objectives and theory →

Topic 2: Economic management

Better responses

  • Evaluations scored when the decision rested on findings already established in the analysis and was argued against the criterion the question supplied
  • Stronger answers weighed how an outcome falls on households, businesses and government separately rather than treating the economy as one group
  • The transmission mechanism was handled well when treated as a sequence of flow-on effects that reaches different parts of the economy at different times
  • Fiscal answers did well when automatic stabilisers and discretionary spending were both tied back to where the economy sits on the cycle

Where marks were lost — and how to keep them

  • Recognising when two policy settings pull against each other instead of assuming they reinforce one another
  • Using the stated policy setting in the scenario, since a stance that suits normal conditions may not suit an unusual one
  • Answering the exact measure named in the question, so a question about output per person is not answered with aggregate output
  • Grounding a judgement about a budget stance in the recent outcomes and their causes rather than in general description

Seen in 2025 Q11, 2025 Q12, 2025 Q13, 2023 Q14, 2022 Q14.

Practise Economic management →

2025 QCAA subject report →2024 QCAA subject report →2023 QCAA subject report →2022 QCAA subject report →

How the paper is built

Marks by question format across the same 4 papers.

Multiple choice 4010 / 10 / 10 / 10 per paper
Short answer 280 / 8 / 12 / 8 per paper
Extended response 17955 / 43 / 38 / 43 per paper

Multiple choice is exactly 10 marks in every paper. The rest moves around: short answer ran 0, 8, 12, 8 marks and extended response ran 55, 43, 38, 43 marks. 4 papers is not enough to call that a trend.

Every question, by area

All 61 questions from the 4 papers, listed under the area each was coded to — year, question number, marks as printed on the paper, cognitive verb and format — with QCAA's own copy of the paper linked on every row. The questions themselves are read there, not here. Marks here are as printed and every question is listed once, so these totals sit a little apart from “Where the marks sit” above, by design: there, a question coded to more than one area has its marks split evenly. Open a topic to see its list.

Topic 1: Macroeconomic objectives and theory14 questions · 48 marks · show

Economic models and theory · 6 questions, 19 marks

Unemployment · 3 questions, 12 marks

Macroeconomic objectives and the economic cycle · 2 questions, 5 marks

Inflation · 2 questions, 8 marks

Economic indicators and measurement · 1 question, 4 marks

Practise Macroeconomic objectives and theory →

Topic 2: Economic management47 questions · 199 marks · show

Fiscal policy · 24 questions, 98 marks

Monetary policy · 16 questions, 70 marks

Supply side and microeconomic policies · 7 questions, 31 marks

Practise Economic management →

The papers this is counted from

Queensland Curriculum and Assessment Authority publishes every paper and its marking guidelines. These links go to QCAA's own copies — read the questions there. QCAA publishes each year in more than one booklet, and every one this page counted is linked.

2022 Multiple choice question book →2022 Question and response book →2022 Stimulus book →2023 Multiple choice question book →2023 Question and response book →2023 Stimulus book →2024 Multiple choice question book →2024 Question and response book →2024 Stimulus book →2025 Multiple choice question book →2025 Question and response book →2025 Stimulus book →

These are the external examination papers. They are not the whole subject: Economics is also assessed by internal assessments set and marked by your school, which QCAA does not publish — so nothing on this page covers that part of your result.

Study Economics on Revizi

QCE Economics TopicsQCE Economics PracticeQCE Economics Study NotesQCE Past Exam PracticeQCE Exam PracticeQCE Flashcards HubAll QCE Questions by TopicQuestions by Topic — all curricula

Frequently Asked Questions

Which QCE Economics areas come up every year?

4 of the 9. Every area marked "Every paper" above was examined in all 4 papers on file. That describes the papers analysed, not a prediction — examiners set each paper fresh.

Which QCE Economics topic is worth the most marks?

Topic 2: Economic management 197, Topic 1: Macroeconomic objectives and theory 51 marks across the 4 papers analysed.

What is the biggest single area in QCE Economics?

Fiscal policy, with 85 of the 247 marks counted across 4 papers.

How was this analysed?

Every question in 4 official QCAA QCE Economics papers (2022–2025) was counted against the QCAA Economics General Senior Syllabus, Unit 4: Contemporary macroeconomics: its mark value, its format and its key word, and the topic and area it assesses. Marks are reconciled against each paper's own stated total.

Are the exam questions reproduced here?

No. Queensland Curriculum and Assessment Authority owns the papers. This page publishes counts and links to QCAA's own copy of each paper so you can read the questions at the source. The analysis is ours; the papers stay with QCAA.

Does this predict what will be in my exam?

No, and it is not meant to. It describes what has been set. Examiners write each paper fresh and can weight a neglected area heavily, which is why every area is listed here, including the ones examined least.

Can I see which QCE Economics questions were set on each area?

Yes. Every question from the 4 papers is listed above under the area it was coded to, with its year, question number, marks and cognitive verb, and a link to QCAA's copy of that paper. The question itself is read there, not here.

What did the QCAA markers say about QCE Economics?

Queensland Curriculum and Assessment Authority publishes marker feedback after each paper. The "What the markers wanted" section above is our reading of it across 4 years, in our words, grouped by topic and cited to the year and question it was seen in, with the originals linked.

Coded against the QCAA Economics General Senior Syllabus, Unit 4: Contemporary macroeconomics. Where a question is coded to more than one area its marks are split evenly, so area totals within a topic can round a mark or two above the topic total. A area is marked "Every paper" when it appears in all 4, "Most papers" when it is missing from one, and "Comes and goes" when it is missing from more — the one-paper tolerance absorbs a single coding miss rather than publishing it. Last updated 2026-09-01 · Exam papers © Queensland Curriculum and Assessment Authority, linked at source.