LC Economics Predictions

Scoobydooo

Ok guys anyone got predictions for this years Economics paper ?

My teacher thinks Oligopoly, Capital and NAMA/Banking are certainties, what else should we expect to see ?

XXRachelXX

Our teacher thinks Oligopoly aswell, maybe something to do on falling euro aswell

McGarnagle92

I'm thinking of learning Imperfect Competition and Monopoly also.

• Price Discrimination

• Inflation/Deflation

• Labour/Enterprise (according to the 'Tute)

• National Income and The Multiplier (every year I think)

Feel free to correct me if I'm wrong

ciano1

My teacher seems convinced that a cross elasticity of demand Q is coming up..

McGarnagle92

ciano1 wrote: »

My teacher seems convinced that a cross elasticity of demand Q is coming up..

don't even know what that is, better get studying haha

Also, remember there's a few formulas for Economics in the Maths Tables book this year.

brian1991

Our teacher emphasised oligopoly.

McGarnagle92

I'm hoping for Oligopoly but it seems too obvious

lc2010

ciano1 wrote: »

My teacher seems convinced that a cross elasticity of demand Q is coming up..

Does he predict that as a separate question or combined with/instead of demand/supply?


Two whole questions on demand/supply and elasticity would be deadly!!!:p:)

Finical

McGarnagle92 wrote: »

I'm hoping for Oligopoly but it seems too obvious

Yeah I'm thinking the same, it was the same last year though imperfect competition hadn't come up for three years but did then last year. I think I'm only going to concentrate on oligopoly and perfect competition and know the other two markets vaguely.

McGarnagle92

Finical wrote: »

Yeah I'm thinking the same, it was the same last year though imperfect competition hadn't come up for three years but did then last year. I think I'm only going to concentrate on oligopoly and perfect competition and know the other two markets vaguely.

Yeah that's what I'm doing too

any ideas on which factor of production?

Sophsxxx

lc2010 wrote: »

Does he predict that as a separate question or combined with/instead of demand/supply?


Two whole questions on demand/supply and elasticity would be deadly!!!:p:)

I think there is meant to be 2 whole qs on them...that's what my grinds teacher told me anyway!

Finical

McGarnagle92 wrote: »

Yeah that's what I'm doing too

any ideas on which factor of production?

I've been hearing that capital has a good chance. I would say capital or land myself. To be honest though I'd say any of the four could come up.

Reillyman

My Predictions

• Oligopoly
• Elasticity
• Demand/Supply
• Factor(s) of Production
• Economic Development -with a (c) part on history of economic thought, probably Keynes.
• National Income
• International Trade
• Euro&Exchange rates or Government budget/Taxation or Employment

Everyone is on about Nama being on it, don't know what or where they could ask it on, perhaps the last Q?

I reckon they'll ask something on Keynes because his work is all about coming out of recession.

Thoughts?

itsRayOk

Reillyman wrote: »

My Predictions

• Oligopoly
• Elasticity
• Demand/Supply
• Factor(s) of Production
• Economic Development -with a (c) part on history of economic thought, probably Keynes.
• National Income
• International Trade
• Euro&Exchange rates or Government budget/Taxation or Employment

Everyone is on about Nama being on it, don't know what or where they could ask it on, perhaps the last Q?

I reckon they'll ask something on Keynes because his work is all about coming out of recession.

Thoughts?

this is probably the best call so far ...id say college fees will be in der rather than nama

Bob the Builder

Reillyman wrote: »

My Predictions

• Oligopoly
• Elasticity
• Demand/Supply
• Factor(s) of Production
• Economic Development -with a (c) part on history of economic thought, probably Keynes.
• National Income
• International Trade
• Euro&Exchange rates or Government budget/Taxation or Employment

Everyone is on about Nama being on it, don't know what or where they could ask it on, perhaps the last Q?

I reckon they'll ask something on Keynes because his work is all about coming out of recession.

Thoughts?

Best prediction I've seen yet...

Oligopoly is pretty definite. Thats putting my foot on the line, but analysing patterns and the mocks papers, oligopoly is looking good. However, the other market structures (Perfect/Imperfect Competition) can be asked in the Section A, so don't just focus on Oligopoly.

NAMA seems like a sure bet also. Given it was a hot topic back in November. Learn your figures and the functional structure of NAMA and have at least 5 SRP's ready to spit out on the paper. But bare in mind, NAMA may not come up itself - it may come up disguised as a land/property question (e.g. reasons for the decline in demand/price of property)

The Consumer Price Index, and the CSO are looking like they'll come up in some form or another.

National Debt is also expected as a question. Also take a look at International Trade and know about our primary trade links and how significant they are. International Trade comes up every year.

Also, I'm predicting something to do with MRP (marginal revenue productivity) and I have a strong feeling that Land will come up either as a factor of production or it's role in the current economic crisis.

Could unemployment or migration come up? I'm betting that at least one will. However Unemployment came up in Question 8 last year and the chances of repeating that question seem slim enough.

itsRayOk

were the exams not made in september ...meaning no nama

Bob the Builder

They are drafted in November afaik.

The NAMA Bill was published in July 2009. And NAMA has been, and is a hot topic since.

Finical

Bob the Builder wrote: »

Best prediction I've seen yet...

NAMA seems like a sure bet also. Given it was a hot topic back in November. Learn your figures and the functional structure of NAMA and have at least 5 SRP's ready to spit out on the paper. But bare in mind, NAMA may not come up itself - it may come up disguised as a land/property question (e.g. reasons for the decline in demand/price of property)

What are SRP'S?

Cipango

I feel Oligopoly will come up. but either with Perfect and/or Price Discrimination!

Reillyman

Finical wrote: »

What are SRP'S?

SIngle Relevant Points afaik

Cipango

Reillyman wrote: »

SIngle Relevant Points afaik

Thats for geography.

Its more state and explain for economics.

NotExactly

Reillyman wrote: »

My Predictions

• Oligopoly
• Elasticity
• Demand/Supply
• Factor(s) of Production
• Economic Development -with a (c) part on history of economic thought, probably Keynes.
• National Income
• International Trade
• Euro&Exchange rates or Government budget/Taxation or Employment

Everyone is on about Nama being on it, don't know what or where they could ask it on, perhaps the last Q?

I reckon they'll ask something on Keynes because his work is all about coming out of recession.

Thoughts?

I don't think they will put a full question on all of these:Oligopoly,Elasticity & Demand/Supply.All you need is National Income and International trade(one of the 2 is gaurenteed) and you have your 4 long questions. Would love if your prediction was right though!:D