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**Economics 2012 Higher and Ordinary**
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Mysteriouschic wrote: »I'm thinking of trying to get the rest of the short questions done. I've up to 2005 I was thinking of doing 5 years. I'm going to do micro tomorrow the whole section
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Do we only need current figures for the macro section? like the unemployment rate.
Yes you need current figures before you going into the exam, unemployment is 14.5 %, but it depends what long Qs you're answering on, just learn figures for the ones you're doing!
Also, tax etc, like how Vat went up by 2% to 23% last year
& NAMA has paid €30. 5 billion for €72. 3 billion worth of loans. This is an average of 42% of the loan values and an average "haircut" for NAMA banks of 58%
etc, et cetera...0 -
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JamesDundalk wrote: »ganon, you seem to be well informed. Any recommendations as what to hone in on? What's your study plan for Economics?
Also anyone know for drawing the graphs - pen or pencil? Or does it matter?
Doesn't matter at all I amnt even going to use graph paper, our teacher has been an examiner for years she says that as long as the graph is correct you will get full marks regardless of pen/pencil or graph paper or not 0 -
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JamesDundalk wrote: »ganon, you seem to be well informed. Any recommendations as what to hone in on? What's your study plan for Economics?
Also anyone know for drawing the graphs - pen or pencil? Or does it matter?
Don't rely on predictions, no need to really remind people of that :pac:
But to hone in on?
A full elasticity question could be likely, although i've never seen or heard of Supply elasticity that people keep mentioning, we don't use or economics book and I don't think it's been on the papers in the last ten years (please correct me if i'm wrong!).
Market structure will probably be a comparison, Oligopoly last year was a 'hard' one, so if they're going to ask an 'easy' one like PC, it's going to be a difficult question, so comparison with Imperfect or Monopoly, (2010 Q2c is PCvMon, the marking scheme is good, only need to change it slightly to get PCvIC), also within the comparison they might ask for the difference in shapes of demand curves (which is basically 2007 q2.c.ii)
Demand is a question nearly every year but they often mix it with elasticity, Supply hasn't come up properly in ages so it might get a full question, but then again they probably won't have too much micro (they got a full cost question last year
)
FOP-I think enterprise is a strong one, look at 2008 Q3, it came up almost word for word in one of the pres, I know pres aren't a reliable indicator but the bit at the end about cutting public sector wage bill is really topical
They're my hunches for micro and if they all come up all being doing all of them! Macro is way harder to predict seeing as it has to be kind of relevant. International Trade would be a big one, there has to be some reference to National Debt on the paper, and taxation possibly in terms of the household charge (pros cons etc).
And just to cover my ass again, these are my hunches but i'm still studying the entire course (but in fairness it's probably the shortest LC course)0 -
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JamesDundalk wrote: »ganon, you seem to be well informed. Any recommendations as what to hone in on? What's your study plan for Economics?
Also anyone know for drawing the graphs - pen or pencil? Or does it matter?
Don't rely on predictions, no need to really remind people of that :pac:
But to hone in on?
A full elasticity question could be likely, although i've never seen or heard of Supply elasticity that people keep mentioning, we don't use or economics book and I don't think it's been on the papers in the last ten years (please correct me if i'm wrong!).
Market structure will probably be a comparison, Oligopoly last year was a 'hard' one, so if they're going to ask an 'easy' one like PC, it's going to be a difficult question, so comparison with Imperfect or Monopoly, (2010 Q2c is PCvMon, the marking scheme is good, only need to change it slightly to get PCvIC), also within the comparison they might ask for the difference in shapes of demand curves (which is basically 2007 q2.c.ii)
Demand is a question nearly every year but they often mix it with elasticity, Supply hasn't come up properly in ages so it might get a full question, but then again they probably won't have too much micro (they got a full cost question last year )
FOP-I think enterprise is a strong one, look at 2008 Q3, it came up almost word for word in one of the pres, I know pres aren't a reliable indicator but the bit at the end about cutting public sector wage bill is really topical
They're my hunches for micro and if they all come up all being doing all of them! Macro is way harder to predict seeing as it has to be kind of relevant. International Trade would be a big one, there has to be some reference to National Debt on the paper, and taxation possibly in terms of the household charge (pros cons etc).
And just to cover my ass again, these are my hunches but i'm still studying the entire course (but in fairness it's probably the shortest LC course)
Completely agree with you. I think elasticity will be a long q, also think there's a likelihood of a long supply question. However you mentioned supply and elasticity?? Not even too sure how that would work, unless it's just replacing the equation with supply changes? Still seems slightly improbable (I hope)
I think Imperfect for Market structure, again could be misguided.
I see them tying banking in with national income for some reason.
International trade with a calculation on tee of trade.
I really need an A grade, only took it up this year, haven't had a teacher but have had grinds, gone to evening classes etc. I did a pre and only got a C2, so I hope I can pull it together.
Do your answers reflect the marking schemes answers word for word, yeah?0 -
Pretty much yeah, our teacher gave us alot of our notes straight from the marking schemes, you could literally learn the course from them without a bookJamesDundalk wrote: »JamesDundalk wrote: »ganon, you seem to be well informed. Any recommendations as what to hone in on? What's your study plan for Economics?
Also anyone know for drawing the graphs - pen or pencil? Or does it matter?
Don't rely on predictions, no need to really remind people of that :pac:
But to hone in on?
A full elasticity question could be likely, although i've never seen or heard of Supply elasticity that people keep mentioning, we don't use or economics book and I don't think it's been on the papers in the last ten years (please correct me if i'm wrong!).
Market structure will probably be a comparison, Oligopoly last year was a 'hard' one, so if they're going to ask an 'easy' one like PC, it's going to be a difficult question, so comparison with Imperfect or Monopoly, (2010 Q2c is PCvMon, the marking scheme is good, only need to change it slightly to get PCvIC), also within the comparison they might ask for the difference in shapes of demand curves (which is basically 2007 q2.c.ii)
Demand is a question nearly every year but they often mix it with elasticity, Supply hasn't come up properly in ages so it might get a full question, but then again they probably won't have too much micro (they got a full cost question last year )
FOP-I think enterprise is a strong one, look at 2008 Q3, it came up almost word for word in one of the pres, I know pres aren't a reliable indicator but the bit at the end about cutting public sector wage bill is really topical
They're my hunches for micro and if they all come up all being doing all of them! Macro is way harder to predict seeing as it has to be kind of relevant. International Trade would be a big one, there has to be some reference to National Debt on the paper, and taxation possibly in terms of the household charge (pros cons etc).
And just to cover my ass again, these are my hunches but i'm still studying the entire course (but in fairness it's probably the shortest LC course)
Completely agree with you. I think elasticity will be a long q, also think there's a likelihood of a long supply question. However you mentioned supply and elasticity?? Not even too sure how that would work, unless it's just replacing the equation with supply changes? Still seems slightly improbable (I hope)
I think Imperfect for Market structure, again could be misguided.
I see them tying banking in with national income for some reason.
International trade with a calculation on tee of trade.
I really need an A grade, only took it up this year, haven't had a teacher but have had grinds, gone to evening classes etc. I did a pre and only got a C2, so I hope I can pull it together.
Do your answers reflect the marking schemes answers word for word, yeah?
and @HowAreWe that public sector wage thing is in that enterprise question 2008 q30 -
Does anyone know if the Demand curve for a Monopolistic market structure is on the course? I know there is a demand curve for PC/IC/Oligopoly, but I haven't seen one for Monopoly yet.
And a full Elasticity Question would be sweet! They can't really ask much, just the definitions of the 4 types (PED, YED, CED, PES). Maybe to draw the Demand curve of the different types of PED, What a result means, how to increase revenue by using Elasticity, Calculate PED, How Producers/Government/Monopolies use Elasticity. That's basically it! Definitely 75 marks in the bag for everyone if that came up!
I'm hoping for a handy Demand question aswell, hopefully one where you have to draw the diagrams and mark the effects of increased price etc.
I'd take anyone of the Markets (except Oligopoly).. They're all fairly similar imo!
National Income, Circular flow
yess..
Have to look over International Trade, but that's basically Reasons for Trade, Protectionism, Law of Comparative Advantage and maybe something on the History of David Ricardo!
Come on Economics on the 20th June, I need this A1!0 -
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