Economics: Topics Tipped for this year

Dapics

Thread Title says it all.

Me, I'm going for Imperfect Competition/Oligopoly, Elasticity and Demand and Supply on Micro.

National Income, Money and Banking and Government and the economy on Macro.

Whats everyone else tipping?

D_s

Definitely Imperfect.

I'd know all the relevant facts as well just to throw in (unemployment = 14%, ECB Interest rate = 0.5% etc.)

Elasticity and Demand/Supply is the same every year, can't go wrong with question 1.

I'd learn off a bit of Land, Labour and Capital as well, with a focus on Land, easy question if you put in a bit of study.

Then you just have to pick 1 question out of all of Macro once you got Micro sorted. Easy paper

LostBoy101

From my personal view I always go for 4 mirco questions if available as it is more precise than Macro.

teach88

LostBoy101 wrote: »

From my personal view I always go for 4 mirco questions if available as it is more precise than Macro.

Careful. There aren't always 4 micro questions on the paper these days, usually only 3.

LostBoy101

teach88 wrote: »

Careful. There aren't always 4 micro questions on the paper these days, usually only 3.

Aye thats true I have covered employment, taxation and Banking in Macro.

ray2012

D_s wrote: »

Elasticity and Demand/Supply is the same every year, can't go wrong with question 1.

I'd learn off a bit of Land, Labour and Capital as well, with a focus on Land, easy question if you put in a bit of study.

Then you just have to pick 1 question out of all of Macro once you got Micro sorted. Easy paper

I always do crap at the Q1's (the micro section). I can't get my head around the supply/demand/elasticity at all. I'd be far better at Macro! How would you recommend studying for the Q1 though? If I can get my head around it in the next week I'd definitely attempt it.

D_s

ray2012 wrote: »

I always do crap at the Q1's (the micro section). I can't get my head around the supply/demand/elasticity at all. I'd be far better at Macro! How would you recommend studying for the Q1 though? If I can get my head around it in the next week I'd definitely attempt it.

Emm.. where do I start. Is there any parts in particular you have trouble with? Or just the entire topic of demand, supply and elasticity?

If your teacher or book was ****e, I found this online book that the website forgot block (I think you're only supposed to be able to view the first chapter as a preview or something, but you can view the whole book). It's fairly light reading and does a good job at explainations.

But yeah Macro is grand and handy because you can pretty much waffle it. I heard of a guy a year or two above me who apparently decided to take the exam on the day and got 50% or something purely based off Macro questions, which isn't too bad :)

ray2012

D_s wrote: »

Emm.. where do I start. Is there any parts in particular you have trouble with? Or just the entire topic of demand, supply and elasticity?

If your teacher or book was ****e, I found this online book that the website forgot block (I think you're only supposed to be able to view the first chapter as a preview or something, but you can view the whole book). It's fairly light reading and does a good job at explainations.

But yeah Macro is grand and handy because you can pretty much waffle it. I heard of a guy a year or two above me who apparently decided to take the exam on the day and got 50% or something purely based off Macro questions, which isn't too bad :)

Thanks a million, seems like a good website! I'll be sure to give it a look over during the weekend. Thanks again

woopah92

Banking and how to strike a balance between profitablilty and liquidity is surely to make an appearance.
A factor of production with the (c) part a macro question probably.
My teacher told us elasticity could come up as well.

yournerd

What kinda c questions? Property tax?

LostBoy101

yournerd wrote: »

What kinda c questions? Property tax?

It is possible yes and there is a chance it could come up in the SQs as well.

therower1995

My teacher is the chief examiner for economics and he was really persistent that we know national income inside out.

yournerd

therower1995 wrote: »

My teacher is the chief examiner for economics and he was really persistent that we know national income inside out.

What's that the y = c + I + g

LostBoy101

Remember the national income forumlae can be found in the forumlae book.

PictureFrame

NATIONAL INCOME LADS. I did the LC last year and have been doing Economics grinds with a couple of people and I can say, it seems like a guaranteed this year! For this topic i'd recommend knowing:

• EXPENDITURE METHOD (given in tables) Y=C+I+G+(X-M). How to calculate figures from tables etc.
• DEFINTIONS: National Income, Black Market, Injections/Leakages, GDP/GNP at factor cost and the rest of those niggily little definitions
• CIRCULAR FLOW OF INCOME (PLUS DIAGRAM). Know how to explain injections/leakages, how households/producers interact in the market etc.
• Importance and Limitations of National Income statistics

And voila really for that section, there's not an awful lot more in it to be fair!

woopah92

therower1995 wrote: »

My teacher is the chief examiner for economics and he was really persistent that we know national income inside out.

'Hon the Rower.

yournerd

PictureFrame wrote: »

NATIONAL INCOME LADS. I did the LC last year and have been doing Economics grinds with a couple of people and I can say, it seems like a guaranteed this year! For this topic i'd recommend knowing:

• EXPENDITURE METHOD (given in tables) Y=C+I+G+(X-M). How to calculate figures from tables etc.
• DEFINTIONS: National Income, Black Market, Injections/Leakages, GDP/GNP at factor cost and the rest of those niggily little definitions
• CIRCULAR FLOW OF INCOME (PLUS DIAGRAM). Know how to explain injections/leakages, how households/producers interact in the market etc.
• Importance and Limitations of National Income statistics

And voila really for that section, there's not an awful lot more in it to be fair!

Anything else picture frame?:)

PictureFrame

yournerd wrote: »

Anything else picture frame?:)

Only predictions based on trends etc, but I would imagine

• Imperfect Competition / Oligopoly. Perhaps a mixture as appeared in 2012 with Perfect Competition and Monopoly
• Supply & Demand. FULL Q.1. Not much appeared last year (20 marks I think). I'd look at the years 2010/2011, the SEC may refer back to previous trends of asking you to produce a diagram/mark equilibrium etc.
• Capital, with a C part from an Economist or Land
• National Income
• Inflation, calculating CPI with a (C) on Economic Growth and Development or perhaps History of Economic thought
• General question on performance of Economy with reference to current issues / Population
• Money and Banking (twin theories of liquidity and profitability), how banks create credit

SeanyboyQPR

How do you explain the elements of aggregate demand in national income? Only thing catching me tbh and just need to brush over uses and limitations of NI statistics..