* Economics HL Predictions / discussion / aftermath * (1 thread please)

lufc1993

jj123 wrote: »

Thanks i thought i was more or less prepared till this haha

No bother - were just graced with a sicko teacher!

DaveMur1

lufc1993 wrote: »

Ok well since when are exchange rates not DIRECTLY linked to international trade? maybe its different for the pass course but i think i teacher who got 7A1s last year may no what shes talking about?

By maths i meant elasticity yes!
National Income was 100marks last year and shes 99% sure its not coming up.

oligoploy is just too predictable this year( many predicting repeat of 2006 Q) so she says baumol model is very likely.

A teacher getting 7A1's last year WOW , oh no wait,nobody cares, im doing ten subjects this year chances are I could get 10A1's , does that make me superior to everyone else?? No, because nobody cares how a person's leaving cert went!

If you look under the different chapters of your book & under international trade is where the purchasing power parity is, let me know. "different for the pass course" what a bad attempt at a joke that conveys ignorance, everything in economics can be directly linked to other chapters , maybe your little mind didn't process that when replying.

Again, "For demand question be expecting a maths question c" ambiguous enough??? Thats a perfect copy of the 2010 question then a Demand question , with elasticity part (C). Likely two years in a row , No!

Sure we'll all see Wednesday ***when*** im right about National Income!

randylonghorn

Play nice, folks!

cabbage kid

These last few posts made me lol :)

DaveMur1

randylonghorn wrote: »

Play nice, folks!

2 minutes later! Got to hand it to ya randy that's sum sharp monitoring, don't worry im done replying to this thread,

PictureFrame

Eek, sorry to invade your thread once again (truly am sorry), but this is one of the only times I can ask Economics Students a question as there truly is a minority taking this subject, but can I ask what books do you guys use?. I'm doing it next year and am only using Rapid Revision and Exam Papers, and i'd just feel more comfortable using a proper textbook! Any suggestions would truly be appreciated! Thanks!

irishgirl10

As a student who got an A1 in the mocks... may I ask.....what in the name GOD is the ''baumol'' modul!?

danielmonteiro

7A1's?

and I thought I had to get a life...

Sparkie93

ive decided to drop to ordinary level tomorrow do you need to know the long run and short run diagrams for imperfect and perfect competition and does international trade come up
does anyone have predictions on whats going to come up

NotExactly

Wonderstruck wrote: »

And I've learnt what the IMF, ECB, NAMA and NTMA do.

What do the IMF do and what else do we need to know about them?

NotExactly

lufc1993 wrote: »

6. DEFINITE is EU due to the talks about abolishing the euro
7. as IMF Q was answered really badly last year this year shes backing the European Investment Bank

What do we need to know about the above? Thanks.

fionnsci

PictureFrame wrote: »

Eek, sorry to invade your thread once again (truly am sorry), but this is one of the only times I can ask Economics Students a question as there truly is a minority taking this subject, but can I ask what books do you guys use?. I'm doing it next year and am only using Rapid Revision and Exam Papers, and i'd just feel more comfortable using a proper textbook! Any suggestions would truly be appreciated! Thanks!

I use Understanding Economics. I've been studying recently out of Rapid Revision though and I find it very good and concise. I'd buy a book too though, it's good to have more than one source. Each will have different manners of explaining things, and one is bound to help you more than the other for different topics.

biggaman

So do we need to know the Purchasing Power Parity Theory? My teacher told us it was moreso to do with college economics, rather than LC economics??

FreshTillDeath

Hoping to do either 4 macro questions or else 3 macro and 1 micro question depending on whether Oligopoly comes up or not. I find the macro questions a lot easier as it's all related to the current economy so it should be pretty predictable.

Hoping for : National debt, Budget, Emigration, Savings, Investment, Oligopoly, IMF,ECB,NAMA questions

Sneaky can in the jax before the end too

Wonderstruck

NotExactly wrote: »

What do the IMF do and what else do we need to know about them?

Well, famously, bail out Ireland

Here's my notes:

Expansion of World Trade: Encourages member countries to adopt sound economic polices. Monitors economic developments & gives advice

Promotes Exchange Rate Stability: Aims for monetary co-operation. Forum for international monetary problems. Helps stop countries creating competitive devaluations

Orderly Correction of BOP problems: Provides temporarily financing for countries w/ BOP and other problems, and helps provide reform policies

Provision of Technical Assistance and Training: When the USSR collapsed and the country changed from a Centrally Planned Economy to Free Enterprise, the IMF helped them set up banks and treasuries.

Or maybe I'm lying so hopefully the bell-curve will have me in a higher grade that you.

Yeah, I never did the Baumol Model. Not like, don't remember it. Like never did it. :P

And to PictureFrame:

Eek, sorry to invade your thread once again (truly am sorry), but this is one of the only times I can ask Economics Students a question as there truly is a minority taking this subject, but can I ask what books do you guys use?. I'm doing it next year and am only using Rapid Revision and Exam Papers, and i'd just feel more comfortable using a proper textbook! Any suggestions would truly be appreciated! Thanks!

I don't have a textbook, I have my teacher's notes. She just gives the class answers based off marking schemes. She goes crazy if we write anything else. :pac:

You're not missing out on anything with the book. The teacher has one, but it's really long winded (and really off the point) and so dated it doesn't even have the boom years in it (so, weirdly, it's kinda accurate again!).

Honestly, marking schemes are the best things to study from, as definitions should be learned off word for word.
As for the other answers (in the marking schemes) have you can use them as a 'springboard' for a slightly more full answer. Take me blabbing about the IMF. 'Provides Assistance and Training' would be what the marking scheme says, but it would be better to just give an quick explanation of what you mean, (i.e. because a country is changing from Centrally Planned to Free Enterprise) and an example if necessary/if that's the best way clarifies it properly (In the case of Russia)!

*waffles on*

rugbyman

On my dads account, it's @SDTimeout.

Just looking for clarity on the Comparative Advantage.

Lets say
Country, Food, Machinery
A 8t 2units
B 16t 8 units
Total 24t 10 units.

So i have written down that country A should do food at 16 T and B should do Machinery at 16 units.

No clue where the 16 on BOTH sides comes from, just did these in class and have misplaced my written notes in the gigantic pile of almost finished things in my room. I then know that output with no trade of food is 24 t and 10 units.
Output with trade is 16 and 16. Minus the trade from the no trade and you get -8 over 24 x 100% = -33% change. Where machinery is 6/10 x 100% = +66%. I understand all of this, just not where I'm getting the common 16 from.

Same in Eoin Jacksons example. India and China. India machinery and clothes 5 and 10 units. China is 6 and 20 units. leaving total at 11 units and 30. When applied it changes to both having 40 in their respective fields.


EDIT.

Got it!!! , It wasn't 40 in both fields i misread it. It was 10 for India and 20 for China. I assume you just double the best Area for the nation ? That would explain why both sides ate 16 in the first example.

Phew

fairyribbon

i failed economics in my mocks and am hoping for a c3 tomorrow but im considering dropping down to ordinary ..is it too late ?or maybe i should stick to honours and try to scrape a d3 any advice ?

roisin24

The mocks were a few months ago, im sure you'll get your d3 or even beyond it if you just keep it simple and state the obvious!

conlufc

rugbyman wrote: »

On my dads account, it's @SDTimeout.

Just looking for clarity on the Comparative Advantage.

Lets say
Country, Food, Machinery
A 8t 2units
B 16t 8 units
Total 24t 10 units.

So i have written down that country A should do food at 16 T and B should do Machinery at 16 units.

No clue where the 16 on BOTH sides comes from, just did these in class and have misplaced my written notes in the gigantic pile of almost finished things in my room. I then know that output with no trade of food is 24 t and 10 units.
Output with trade is 16 and 16. Minus the trade from the no trade and you get -8 over 24 x 100% = -33% change. Where machinery is 6/10 x 100% = +66%. I understand all of this, just not where I'm getting the common 16 from.

Same in Eoin Jacksons example. India and China. India machinery and clothes 5 and 10 units. China is 6 and 20 units. leaving total at 11 units and 30. When applied it changes to both having 40 in their respective fields.


EDIT.

Got it!!! , It wasn't 40 in both fields i misread it. It was 10 for India and 20 for China. I assume you just double the best Area for the nation ? That would explain why both sides ate 16 in the first example.

Phew

here mate check out this video on comparative advantage. I'v been watching some of his videos today and there excellent!
http://www.youtube.com/watch?v=Pd_qs8ueIWw&feature=related

irishgirl10

How many chapters would I be safe to leave out? Aiming for the A1

samapp

irishgirl10 wrote: »

How many chapters would I be safe to leave out? Aiming for the A1

Same! There is just so much! Im doing what I can and leaving it....

irishgirl10

samapp wrote: »

Same! There is just so much! Im doing what I can and leaving it....

Iv basically done all the main chapters and left out ones like the EU, Gov Aims..ect.. I hope I dont get caught out

danielmonteiro

I got 35% in the mocks in HL
and haven't dont anything for economics since march.
so drop to OL or bUll-sh**s-hit my way through to pass at HL or drop to OL?

irishgirl10

danielmonteiro wrote: »

I got 35% in the mocks in HL
and haven't dont anything for economics since march.
so drop to OL or bUll-sh**s-hit my way through to pass at HL or drop to OL?

Hl- your bound to come upat least 5 percent since March, regardless if you've done much or not!

danielmonteiro

Yes I can pass HL but in the end I will definetely not get more than 60points.
And with OL I can go for the A or B which also goes up to 60 points.

Which will look better on my CV: really well at OL or bad but passed in HL ?

HL: I'm in the 40%s so there's the risk of me failing at HL and take no points for the CAO college thing. HL always looks good on CV.

OL: I can do it confidently as it's easy and even if I get 30points from it for college.. 30 points helps a lot. But looks not so bright as HL.

ah, f*** it, I'm taking OL.
I was asking you guys but I just made up my decision. haha

SDTimeout

I'm in the same boat, but i don't want to do the OL paper and then see the HL one as being do-able.

My best questions are Demand, Supply, Elasticity , Int Trade, FoP's (Enterprise, Land) Oligopoly, Imperfect. Nat Income Hopefully that's enough to cover me for 3 maybe 4 long questions and worse case do the general 8th question.

Best of luck everyone

Grindylow

I demand we all throw the papers at the examiner and say "ECONOMICS??? IF YOU WANT TO FIX OUR ECONOMY DON'T WASTE OUR MONEY PRINTING DA PAPER BOI!!!!"...

It's a viable solution to all our problems

danielmonteiro

SDTimeout wrote: »

I'm in the same boat, but i don't want to do the OL paper and then see the HL one as being do-able.

My best questions are Demand, Supply, Elasticity , Int Trade, FoP's (Enterprise, Land) Oligopoly, Imperfect. Nat Income Hopefully that's enough to cover me for 3 maybe 4 long questions and worse case do the general 8th question.

Best of luck everyone

I understand you but you.

For me it's like this: I can pass but just about. I doubt I can get more than 60points from this at HL
And I can defo get the from 45 to 60 points at OL plus I'll be doing it confortably because the questions are so easy.
So I'm dropping.


It's only at this stage when I regret not studying enough(at all really). haha

UrbanSea

Must say I thought that was a handy test. A few niggly bits but was definitely doable.
I did question three,five,seven and eight.

higgz

Wonderful exam. I did the 4 macro questions.