**** I just realised something...(Economics exam related)

Enemy Of Fate

In our economics exam are we meant to draw our diagrams on graph paper?Or can we just use the normal paper?If we HAVE to draw it on graph paper then that is so annoying.

Delphi91

No mention of marks deducted for not using graph paper on last years marking scheme. Haven't looked at the paper, but I'd imagine if it says "Draw a diagram, on graph paper to....", then you should use it, otherwise no specific need.

BTW, I'm a teacher, but not of economics, so I could be wrong!

Enemy Of Fate

Delphi91 wrote:

No mention of marks deducted for not using graph paper on last years marking scheme. Haven't looked at the paper, but I'd imagine if it says "Draw a diagram, on graph paper to....", then you should use it, otherwise no specific need.

BTW, I'm a teacher, but not of economics, so I could be wrong!

Well they have NEVER mentioned graph paper on previous exams.....so I'm sure i'll be grand.I mean it wouldn't be terrible....but i'd much prefer to have them next to the questions, i'd find it much easier and thats what i'm used to.

carlowboy

Teacher deducted marks from me in the mocks because it wasn't on graph paper.

Marshy

Our teacher has never mentioned using graph paper so I'd say its unnecessary.

Enemy Of Fate

Good job.I'd had to lose marks because of a technicality, especially when i'm hoping for a minimu of a B1.God I love economics.It is literally the only thing that can save my ass in the leaving.

carlowboy

I need tips then! And plenty of them!

Enemy Of Fate

OK.Well theres always a question on one of the market structures and one of the factors of production.Now for the market structures Perfect competition is VERY likely, as it hasn't been up in 3 or 4 years, and its only been up twice in the past 12.For the FOPs labour is likely, as it hasn't been up in a while also.Theres ALMOST always a question on elasticity (think its only been 2 years where it hasn't come up, think the last time was 2002) so be sure to cover that.OK.Thats almost guaranteed questions covered.For other question I would cover national income (ie Y=C+G+I+X-M), GNP, GDP all that stuff.Its usally a question, and if it does come up then it can save you a lot of time, if you get a Y=G+G+I+X-M maths question (its usually worth more than a 3rd of the marks, and will take less than 5 minutes).Also another section I would focus on is international trade.Very likely question.

Also (and I can't stress this enough so I'll put it in capital letters) PAST EXAM SHORT QUESTIONS!!!DO ALL OF THEM!!LEARN THEM!!!They ask the same kind of stuff over, and over, and over, and over again.Repetition is king in the economics exam....which makes it easy to get great marks there.

whatshername!!

i think the price discrimination diagram will come up because it hasnt in like 8 years.


We were never told anything about graph paper and our teacher spent the last few months just going over answers from the marking schemes so she would have said something.

ron-burgandy

I'm 99% sure that graph paper is unnecessary... there's no way I'm using it anyway

I'm covering:
1. The short questions for the last 6/7 years
2. Perfect competition very well, and imperfect and monopoly to a lesser extent
3. Labour as a FOP, and doing a smaller amount on the others
4. National Income - Circular flow, GDP GNP etc. Y=C+G+I+X-M and multiplier
5. Elasticities (all of them PES YED PED)
6. Some basic stuff from the start of the book (Supply&Demand, few cost curve shapes)

Anyone have anything to add to that??

whatshername!!

price discrimination (hasnt come up in 8 years)
interest rates - I think its Keyne? The speculative, transactive and precautionary motives (coz of all the interest rate increases which were happening when paper was writtten )

carlowboy

Enemy Of Fate wrote:

OK.Well theres always a question on one of the market structures and one of the factors of production.Now for the market structures Perfect competition is VERY likely, as it hasn't been up in 3 or 4 years, and its only been up twice in the past 12.For the FOPs labour is likely, as it hasn't been up in a while also.Theres ALMOST always a question on elasticity (think its only been 2 years where it hasn't come up, think the last time was 2002) so be sure to cover that.OK.Thats almost guaranteed questions covered.For other question I would cover national income (ie Y=C+G+I+X-M), GNP, GDP all that stuff.Its usally a question, and if it does come up then it can save you a lot of time, if you get a Y=G+G+I+X-M maths question (its usually worth more than a 3rd of the marks, and will take less than 5 minutes).Also another section I would focus on is international trade.Very likely question.

Also (and I can't stress this enough so I'll put it in capital letters) PAST EXAM SHORT QUESTIONS!!!DO ALL OF THEM!!LEARN THEM!!!They ask the same kind of stuff over, and over, and over, and over again.Repetition is king in the economics exam....which makes it easy to get great marks there.

Thanks heaps I have all the short questions grouped together from the last few years.

Marshy

Our teacher compiled a booklet with all the shorts from the last 15 years... and charged us all 2 euro for it! :eek:

Handy 60 euro if you ask me.

lucernarian

Agreed, good post Enemy of Fate. Sums up a lot of the essential economics course.

And make sure you know Keynes' and Smith's contributions to economic thought. 5 for each. They can be thrown in along with an otherwise easy question. There are other historical economists but would they really come up? Sin an ceist tábhachtach.

Genius16

p.s. know about privitisation....SSIA...And the banking section
Privitisation = aer lingus a few months ago
banks aint come up in a while and were on my mocks
SSIA= again on my mocks

carlowboy

Right, I'm going to know my micro economics pit pat for Section B which should be 3 questions. What is the most definate to come up in macro then?

Agri_trust

Privatisation, paper would have been set around the time of Aer Lingus being sold off.

carlowboy

It hasn't come up as a 75 marker much so will there be something with it?

Think National Income with Multiplier is likely?

tolosenc

Every year, there's a full question on: 1 market structure, FOPs (usually just 1), Demand/Supply or Elasticity (has been both) and National Income/International Trade (has been both). I'd cover a few others, eg banking, but that should do ya.

whatshername!!

I no this sounds really dumb 4 days before my leaving cert but what stuff on the course is macro and what stuff is micro

Limerick Dude

look at your book.....

micro :elasticity,supply,demand,market structures, factors of production.

Macro : Governemnt aims, money, inflation, national income, population, etc

whatshername!!

Thanks. Our book doesnt seperate them it just mixes them all together and our teacher never told us the difference either she jjust assumed we knew

Enemy Of Fate

whatshername!! wrote:

Thanks. Our book doesnt seperate them it just mixes them all together and our teacher never told us the difference either she jjust assumed we knew

Its pretty simple to break up.In a nutshell micro= consumer/private business, macro=government.That may seem overly simplistic, but its actually pretty accurate.

Outcast

Anyone putting money on banking?

See what I did there:D

An Citeog

You definitely shouldn't use graph paper, unless its a numerical question which requires it to be to scale. The whole point in using graphs is to illustrate the point that you are making (demand curve, supply curve, market dynamics). No examiner wants to have to keep flicking over to graph paper.

Enemy Of Fate

An Citeog wrote:

You definitely shouldn't use graph paper, unless its a numerical question which requires it to be to scale.

Well (to my knowledge) those type of questions do not exist in economics...so we're all good!Anyways I asked the examiner today, and she said that shes not meant to hand at graph paper for the exam, so theres no way we can be penalised for not using it.

Agri_trust

Going to start learning this hardcore today. Going to get bored I say, got 42% in the mocks with out opening the book, Ive learned all the diagrams and everything since then and am actually going to study, so im looking for a B in it.

Enemy Of Fate

Meh.I may start tomorrow...or maybe Monday.We'll see how things go!I already pretty much know everything already....just have to brush up on my diagrams and formulas, and learn off some of those previous exam answers that require you to think, rather than just qrite straight answers.Stuff like ''how would a positive budget surplus negatively effect the economy?''.I mean I could easily answer them in the exam from scratch...but then i'd actually have to think about the answers, which would slow me down.

Splicer

heya,

does anyone plan on concentrating on MICRO, not macro?

does anyone have any useful stats broken down to use in the exam? (cause u will have to do at least 1 macro Q)

Enemy Of Fate

Splicer wrote:

heya,

does anyone plan on concentrating on MICRO, not macro?

does anyone have any useful stats broken down to use in the exam? (cause u will have to do at least 1 macro Q)

Check RTE's website.The guy who was on the economics 606 show had a sheet with all that sort of information, and he said you could email him for it, but I don't see why you'd bother when its up on the 606 website!!Everyone should check it out.Its pretty good.

whatshername!!

Splicer wrote:

heya,

does anyone plan on concentrating on MICRO, not macro?

does anyone have any useful stats broken down to use in the exam? (cause u will have to do at least 1 macro Q)

Im doing micro really well and just know the basics of macro coz i hate macro and find micro much easier