Exam Technique

You have been given information on this before but just to remind you:

ECON 1 (micro) and ECON 2 (macro) have the same structure and only really differ in their approach to part C of the data response (explained below)

1 hour and 15 minutes with 2 sections

Section A Objective Test (MCQ) 25 compulsory questions in 25 minutes

• Read question carefully look for "reverse English" and double negatives
• Draw / annotate diagrams where appropriate
• eliminate obvious distractors

Section B Data Response 50 marks /minutes

Choose 1 question from two - based mainly on last section - ie which essay is the most approachable to you

a) Definition (5 marks)

Clear and concise - no more than 2 sentences, address all terms in question eg Labour Productivity is output per worker per time period. Elasticity requires just equation.

b) Data Reference (8 marks)

Two points + two supporting data references ie two sentences in two separate paragraphs:

• first sentence is you valid point (remember to compare the variables if requested eg the price of corn is higher than the price of oil throughout the period);
• the second sentence uses the reading expressed in units eg Corn price varies from $70 to $80 dollars a tonne while oil varies from $60 to $65 dollars a barrel over the period 2006-7.

c) Diagram (12 marks) ECON 1

• clear diagram labelling all prices and quanities, curves and axis (6 marks)
• explanation refering the extract, highlight key movements in diagram and explain evidence to support your analysis
• keep it simple and concise

c) Explanation (12 marks) ECON 2

• Define key term (2 marks)
• Give two valid reasons using extracts as guide (up to 8 marks each)
• 2 marks for identifying point + 6 marks for explanation
• 4 marks for diagram if used (2 marks axis and curves + 2 marks shift/development)

d) Discussion (25 marks)

• refer to entry yesterday for basic plan
• remember same kind of structure as the data response

1. Definitions of key terms are you doorway into the question
2. Data reference is required to create the correct context (use Extract and Line reference)
3. Diagrams will create the framework for analysis Demand and Supply (micro) AD AS (macro)
4. Discuss - Highlight 2 key issues and point over key factors such as positives and negatives
5. Decision - make a judgement as to the most approriate policy option, refer back to question to justify why this is so, do not be too certain - point out caveats or complicating issues, in micro the prospect of Government Failure is a useful consideration at this time.

Separate discussion with clear paragraphs between points (miss a line).