**Economics 2012 Higher and Ordinary**

Mysteriouschic

Do we need to learn off the law of equi-marginal returns formula? and the other marginal law?

Iony94

Mysteriouschic wrote: »

Do we need to learn off the law of equi-marginal returns formula? and the other marginal law?

Both came up last year so it probably won't be on this year's paper

HowAreWe

Mysteriouschic wrote: »

Do we need to learn off the law of equi-marginal returns formula? and the other marginal law?

Yes. They could come up as 17 markers for short questions and you'd be glad to know them if they do.

PictureFrame

JamesDundalk wrote: »

Elasticity of supply NEVER came up. Hmmmm

I think it's going to be on this year! Could be a nice surprise to a lot of people, which seems to be what the SEC wants!

JamesDundalk

Ive never even seen any sums or calculations to try and work PES out, you know?? Also anyone know what Monopoly supplier of labour is?? Is it that nurse yoke

PictureFrame

JamesDundalk wrote: »

Ive never even seen any sums or calculations to try and work PES out, you know?? Also anyone know what Monopoly supplier of labour is?? Is it that nurse yoke

It definitely hasn't been on since 1995! I don't understand your question, what do you mean?

ray2012

do the graphs have to be learned off? Could a question asking to draw a graph (or something similar) come up?

PictureFrame

wrote:

Graphs for what?

HowAreWe

well considering graphs are probably 50% of the micro course I'd say yeah,you do :P

grizzly_bear

ray2012 wrote: »

do the graphs have to be learned off? Could a question asking to draw a graph (or something similar) come up?

Best of luck Wednesday haha

Bears and Vodka

PictureFrame wrote: »

I think it's going to be on this year! Could be a nice surprise to a lot of people, which seems to be what the SEC wants!

In fairness, it's so easy. Definition, use the formula (in the log tables), give examples of things that might affect PES of a good. That's it, really..

HowAreWe

subz3r0 wrote: »

In fairness, it's so easy. Definition, use the formula (in the log tables), give examples of things that might affect PES of a good. That's it, really..

Yup, like it would hardly be a full question. Probably part (a) (i)(ii) and (iii).

Bears and Vodka

Hate the way I only have a day and a half to study Economics for the first time since the LC started! We covered the course 5 times over in class, however... should be fine

I'll revise topical stuff, short Qs, definitions, current statistics, do one or two mock exams and that should do it.

HowAreWe

Yeah I find going over the short Q's really helps bring stuff back

Mysteriouschic

I haven't gone over economics properly in a while. I tried today but I wasn't focusing. Tomorrow I will I've 2 days .

PictureFrame

Guys i'm revising National Income and The Circular flow question.

Could anyone tell me if these are the elements of aggregate demand? I can't find my notes on it!

• In order to stimulate demand in an economy, it is argued that the Government should increase spending for example on roads.
• It is also argued that a high percentage of this injection is likely to be spent on imports and thus wealth is leaving the Country
• The Government has little power to block imports however, due to our membership in the EU and the WTO
• So, as the Government cannot control demand abroad, they can help exporters increase their number of exports, by tax incentives or subsidies.

Oh God, why were the Economics papers so easy a couple of years ago? I'm here doing the National Income Q. from 2006, it's píss..

Unfair..

I've revised International Trade & National Income this morning and can do every question on them in the papers, I think i'm sorted for them! Now onto Government Budgets and Tax! Wooooohoo

JamesDundalk

Doing FOP eyes glazing over. Anyway this can be cut down??

Mysteriouschic

What kind of topical questions could come up in the factors of production?
Would the decrease in house prices be likely to come up?
or what other topical questions?

Meglamonia

Do the graphs have to be done on graph paper?

Meglamonia

Mysteriouschic wrote: »

What kind of topical questions could come up in the factors of production?
Would the decrease in house prices be likely to come up?
or what other topical questions?

Just look at the questions on FOP from the Celtic Tiger period and switch the wording around!

HowAreWe

PictureFrame wrote: »

Oh God, why were the Economics papers so easy a couple of years ago? I'm here doing the National Income Q. from 2006, it's píss..

Unfair..

Have you seen the 2001 paper? every single question is piss

PictureFrame

I hate FOP's. I'd say we'll get Land this year though, and possibly the reasons for the downturn in the Irish housing market!

Mysteriouschic

The prediction video is up.

PictureFrame

Mysteriouschic wrote: »

The prediction video is up.

I wouldn't trust any of his videos tbh, I think he's a right fool!

PictureFrame

Mysteriouschic wrote: »

The prediction video is up.

Is he in his car?

Mysteriouschic

PictureFrame wrote: »

Is he in his car?

Lol it does look like he is in a car now that you mention it.

PictureFrame

Mysteriouschic wrote: »

Lol it does look like he is in a car now that you mention it.

Bit weird..

Mysteriouschic

PictureFrame wrote: »

Bit weird..

I know and it looks quite late at night like 11/12ish. I don't know who'd record videos in their car for predictions anyway lol.

Mysteriouschic

This is a good guide of what to follow.
I have the newspaper version it came in the Irish independent a while back. This is slightly different to the newspaper one I have..It's still pretty good.
It has everything we need to know figures, current figures etc.
The guy who did the christmas economics course at ioe gives the tips. He was a great teacher.

http://www.independent.ie/multimedia/archive/00569/Money_569516a.pdf


I've just realised that ones from 2010. I'll see if I can find this years version . The newspaper is pretty much the same and the topical subjects haven't changed at all same numbers I've just had a quick check, It's still worth a look it . Except where it says there's a rise against the value of the euro against the uk pound and us dollar it says fall in this years. They have Nama there too .The rest is pretty much the exact same.

JamesDundalk

They wouldn't leave out National Income would they? I hate when they do that thing with aggregate demand and ask people to discuss government's ability to influence aggregate demand