Year 12 Economists
Weekly Update 16
Assessment Point 3
Isn't it interesting that you are in the same class, with the same teacher, sitting the same exam, but each of you will come out with different results? I am a firm believer in equal opportunity as opposed to equal outcome. Everyone wants to be successful until they see what it actually takes. Those who not only understand what it takes, but who are also courageous enough to do what it takes - will have the greatest chance of being successful both in school and in life. Listen, you all have access to the same resources that you will need to do well in your exams and with less than 21 days left, it will be fascinating to see who takes full advantage of the opportunity and who chooses not to. Do your best. NO EXCUSES! NO REGRETS!
My Top Ten Tips:
1. Master the AD/AS model - this is your main framework for Unit 2.
2. Thoroughly go through the causes, consequences and cures for the main macroeconomic objectives (you are guaranteed to get questions related to one or more of the following: economic growth, inflation, unemployment and the balance of payments).
3. Context is more important than content. So please understand the context of the question first and make sure you use the data from the extract to support your answers.
4. Label your diagrams accurately and use a ruler.
5. Understand how to calculate, measure and interpret key macroeconomic indicators (notably inflation, unemployment, living standards and economic growth).
6. As you may have noticed, expect policy questions for the 30 marker (fiscal, monetary and supply-side policies)
7. www.twitter.com/search - Econ2 (for the latest updates for the exam)
8. Follow tutor2u_econ
10. Know how to define, illustrate and explain the multiplier effect.
Exam Dates (Gentle Reminder)
Unit 2 - Managing The Economy: Tuesday 19th May 2015 (pm)...Done! :-)
Top Revision Videos:
https://www.youtube.com/watch?v=-MH823Imwso (Monetary Policy)
https://www.youtube.com/watch?v=dmVaYfXWDiE (Fiscal Policy)
https://www.youtube.com/watch?v=FNUflXSN9WE (Supply-side Policy)
AS Macro Workshop - Saturday
Saturday, March 28th, 11am-2pm
Paddington Academy (Room 206)
RSVPs are enabled for this event.
Breaking News: CPI Inflation has fallen to zero percent! (February and March 2015)
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