Economics predictions!!!

Tomlowe

the reason why perfect competition hasnt been on for so long is because its so easy. Sweezy equilibrium would be awesome

whatshername!!

Tomlowe wrote:

Sweezy equilibrium would be awesome

What the f**k is that

cheater

Part of a new Market Structure just put on the course this year.. certain to come up, I'm surprised your teacher hasn't mentioned it... it's the kinda thing that you can't cover in a day it's kinda an all year thing with your teacher...

Enemy Of Fate

Hahahaha.Leave whatshername alone!!Shame on you all!!Anyways theres no such thing as sweezy equilibrium, so don't worry.

Anyways do you know what I was just thinking, imagine if they made this the worst economics exam ever, and didn't put PC or Labour OR elasticity on it....how would you cope?Would you still be capable of answering all 4 long questions?I actually would unless 5 or more of the long questions were about banking or the economists....still though I doubt i'd do exceedingly well at it.

carlowboy

Enemy of Fate, you better do well, because it seems to me you're setting yourself up for a fall.

Feddd

If they did something like that with no micro, it would be marked VERY EASY! ;oD

I still think I would do fine though. our teacher gos nuts on Macro.

Remember though, International trade AND national income are both hotly tipped to be very mathematical. very easy 30-35 marker questions so would be a very good diea to cover them.
And theres almost always a tax question in the shorts so learn the different types(Direct, indirect, progressive regressive etc,)

Enemy Of Fate

Define ''a fall''.Like I said all I actually NEED is a B3.....which isn't difficult by any stretch of the imagination.But like I said earlier, I would be quite disappointed by less than a B1....but it wouldn't be the end of the world, because as long as I get the points I need I'm smiling!

Enemy Of Fate

Feddd wrote:

If they did something like that with no micro, it would be marked VERY EASY! ;oD

I still think I would do fine though. our teacher gos nuts on Macro.

Remember though, International trade AND national income are both hotly tipped to be very mathematical. very easy 30-35 marker questions so would be a very good diea to cover them.
And theres almost always a tax question in the shorts so learn the different types(Direct, indirect, progressive regressive etc,)

Ah not necessarily no Micro, just no PC or Labour.There'd still be a question on the market structures and FOPs, just not the ones that are meant to come up this year.And yeah it would be great if both the IT and NI questions were both mathemathical, because you get an insane amount of marks for what you do.And also its really easy to see if you got full marks in the question.Odds are if really good IT and NI questions come up, I won't bother doing the Labour (or any other FOP) question.I'd probably just do PC, elasticity, international trade, and National income.

Feddd

Well, all market structures are pretty similar so won't be a huge loss if PC doesn't come up, but as I said before, I don't think they will ask PC because of the fact that they have a pattern going and examiners don't like patterns. Oligopoly will be there methinks. Came up 4 years ina row in the early 80s so why not?

Tomlowe

sweezy equilibrium is the kinked demand curve one

carlowboy

It better not be because my teacher left it completely out!

Feddd

carlowboy wrote:

It better not be because my teacher left it completely out!

Its just a fancy name for the demand curve in Oligopoly. The way it has a kink in it which causes price ridgidity because firms wont raise prices as they lose out to much and wont drop prices as everyone will follow(Dropping generates a small amount of additional market demand however but rarely outweighs the initial price drop. theres a nice line to beef up your price ridgidity paragraph. )

Enemy Of Fate

Tomlowe wrote:

sweezy equilibrium is the kinked demand curve one

Oligopoly's?I've never heard it referred to as that....Ah well.Bit of a weird name though.Anyways I must say I wouldn't particularly like it if Oligopoly came up.Its the MS i'm weakest at.Everything in it aside from the graphs (ie characteristics, how they collude etc) is fine, but I just don't like the graphs.

cheater

Don't do that **** to me Feddd... I hate oligopoly! perhaps my most hated market structure...

Also worst case scenario.. PC,Labour etc.etc. doesn't come up, I'm f*cked:D

Feddd

I doubt they would because they know most students wouldn't have studied olig after last year and it would be very unfair, but I did LC last year and am repeating so I'm ok with it.

cheater

lol I see... jeez I don't think I could repeat regardless of what I got...what'd you get last year if you don't mind me asking, or how far off what you needed were you?

Enemy Of Fate

Feddd wrote:

I doubt they would because they know most students wouldn't have studied olig after last year and it would be very unfair, but I did LC last year and am repeating so I'm ok with it.

Ah I wouldn't bet on that though.The ****ers gave us almost exactly the same history paper as last year....and of course hardly anyone bothered to study the stuff that came up last year.Sneaky ****ers.

carlowboy

I meant he left out oligopoly. He only realised yesterday.

Feddd

cheater wrote:

lol I see... jeez I don't think I could repeat regardless of what I got...what'd you get last year if you don't mind me asking, or how far off what you needed were you?

Okay, long post incoming containing details of my masterplan to get high points without working:

Got 425 last year but did very little work as I knew I would be repeating anyway for a few reasons.
1) I skipped 4th year so would be to young for college. (Was sick of always being a year younger then everyone else in my year)
2) I'm on the Irish 420 sailing team and last year was my last year eligable for doing the junior europeans(To old now) and I wanted to put as much time into that as I could so went training every sat/sunday and some days after school etc so had no time for study.
3) Had an awful physics teacher in 5th year and an amazing one in 6th but the amzing one assumed you knew it all already and the pace was far to fast for me and the others I was with in 5th year so physics for me was pretty much a definit fail(But I managed a D3 ^^) and considering I needed over 500 points and only had 6 honours subjects it made it pretty much impossible.
4) Missed all of differentiation in maths because of a competition I had to go to and considering its a very important aspect of what I want to do in college(Civil engineering) if I went ahead I would find the course a bit difficult without the basic understanding of it.

The first 2 were the main reasons but with all that I pretty much had to repeat. People are always saying things like you did (omg, how could you repeat? I would rather die! etc) but considering I knew I was repeating last year all I had to work for was english, Irish and German(So I don't have to do them this year) and all 3 were pass so that wasn't much work. Then this year I only had 6 subjects(Ones which suit repeats very well i.e. practical or short courses and interlinked: Maths, applied maths, Physics, Tech, Economics, ag science) so don't really have to work as hard this year either considering I also had most of them last year and seeing things another time around makes them way easier.

So, as a summery: Skipped 4th year so I am same age as everyone else doing Leaving cert. Didn't have to work hard last year, don't have to work hard this year.....

-Profit!

cabla

I hope absolutely no macro comes up! not likely, or if any, law of comarative advantage, inflation, natonal income..thats it

cheater

Feddd wrote:

Okay, long post incoming containing details of my masterplan to get high points without working:

Got 425 last year but did very little work as I knew I would be repeating anyway for a few reasons.
1) I skipped 4th year so would be to young for college. (Was sick of always being a year younger then everyone else in my year)
2) I'm on the Irish 420 sailing team and last year was my last year eligable for doing the junior europeans(To old now) and I wanted to put as much time into that as I could so went training every sat/sunday and some days after school etc so had no time for study.
3) Had an awful physics teacher in 5th year and an amazing one in 6th but the amzing one assumed you knew it all already and the pace was far to fast for me and the others I was with in 5th year so physics for me was pretty much a definit fail(But I managed a D3 ^^) and considering I needed over 500 points and only had 6 honours subjects it made it pretty much impossible.
4) Missed all of differentiation in maths because of a competition I had to go to and considering its a very important aspect of what I want to do in college(Civil engineering) if I went ahead I would find the course a bit difficult without the basic understanding of it.

The first 2 were the main reasons but with all that I pretty much had to repeat. People are always saying things like you did (omg, how could you repeat? I would rather die! etc) but considering I knew I was repeating last year all I had to work for was english, Irish and German(So I don't have to do them this year) and all 3 were pass so that wasn't much work. Then this year I only had 6 subjects(Ones which suit repeats very well i.e. practical or short courses and interlinked: Maths, applied maths, Physics, Tech, Economics, ag science) so don't really have to work as hard this year either considering I also had most of them last year and seeing things another time around makes them way easier.

So, as a summery: Skipped 4th year so I am same age as everyone else doing Leaving cert. Didn't have to work hard last year, don't have to work hard this year.....

-Profit!

That's very calculated of you, it sounds like I'm not the first person you've had to explain it to

cheater

Feddd wrote:

Okay, long post incoming containing details of my masterplan to get high points without working:

Got 425 last year but did very little work as I knew I would be repeating anyway for a few reasons.
1) I skipped 4th year so would be to young for college. (Was sick of always being a year younger then everyone else in my year)
2) I'm on the Irish 420 sailing team and last year was my last year eligable for doing the junior europeans(To old now) and I wanted to put as much time into that as I could so went training every sat/sunday and some days after school etc so had no time for study.
3) Had an awful physics teacher in 5th year and an amazing one in 6th but the amzing one assumed you knew it all already and the pace was far to fast for me and the others I was with in 5th year so physics for me was pretty much a definit fail(But I managed a D3 ^^) and considering I needed over 500 points and only had 6 honours subjects it made it pretty much impossible.
4) Missed all of differentiation in maths because of a competition I had to go to and considering its a very important aspect of what I want to do in college(Civil engineering) if I went ahead I would find the course a bit difficult without the basic understanding of it.

The first 2 were the main reasons but with all that I pretty much had to repeat. People are always saying things like you did (omg, how could you repeat? I would rather die! etc) but considering I knew I was repeating last year all I had to work for was english, Irish and German(So I don't have to do them this year) and all 3 were pass so that wasn't much work. Then this year I only had 6 subjects(Ones which suit repeats very well i.e. practical or short courses and interlinked: Maths, applied maths, Physics, Tech, Economics, ag science) so don't really have to work as hard this year either considering I also had most of them last year and seeing things another time around makes them way easier.

So, as a summery: Skipped 4th year so I am same age as everyone else doing Leaving cert. Didn't have to work hard last year, don't have to work hard this year.....

-Profit!

That's very calculated of you, it sounds like I'm not the first person you've had to explain it to

cabla

ye you should be an economist :P

Agri_trust

I just cant learn anything. All I know at the moment is labour and pefect competition. Id be able to do a few short questions as well.

My brain just wont let me learn.

carlowboy

Surprisingly got a decent amount of work done. Ready now for everything in micro apart from imperfect competition, oligopoly, Land and Enterprise. And ready for National Income in Macro and Trade at a push.

Enemy Of Fate

Well thats the actual course taken care off.Now to spend an hour glancing through past exam questions.What great fun!!Then 2 hours in the morning just revising the entire micro section as well as national income and international trade and then i'm all set!Hurrah!!Anyways must get back to these notes.I actually want to catch Sleeper Cell on FX tonight.I missed it the last 2 weeks because of the damn exams...I mean i've seen all the episodes before, but I still want to watch 'em.

carlowboy

getting Y= C + I + G + X - M and the multiplier is possiblt the easiest 25 marks in the whole LC!

Enemy Of Fate

carlowboy wrote:

getting Y= C + I + G + X - M and the multiplier is possiblt the easiest 25 marks in the whole LC!

Agreed.Hell points in Economics are easy to pick up anyways.I mean some of the short questions are hiliarious.Its like ''explain what the incidence of a tax is''.The incidence of a tax is the person, firm or organisation who actually pays the tax....and thats 16 marks right there!!Thats like 4% of the whole exam!!

GretchenWieners

never heard of that definition! i only have elasticity, supply/demand and perf competition covered so far. going to do national income and probably savings and enterprise and then call it a night. had a week off and didn't take advantage of it! i'm brutal i know and i'm really counting on a high B for this!

Enemy Of Fate

GretchenWieners wrote:

never heard of that definition! i only have elasticity, supply/demand and perf competition covered so far. going to do national income and probably savings and enterprise and then call it a night. had a week off and didn't take advantage of it! i'm brutal i know and i'm really counting on a high B for this!

It was one of the old short questions from the pre-2000 exams.The incidence of a tax is the person/firm who pays the tax whereas the impact of a tax is who the tax is actually charged on.In many cases they're the same, but in some cases they can be different (eg a producer passing the costs of increased tax onto the consumer).