Recent Interactive Time Lines from the Guardian:
Inflation
Gold Price
Unemployment
GDP growth
The Washington Post
The US Output Gap
Wednesday, 28 March 2012
Monday, 26 March 2012
AS Economics
AS ECONOMICS
EASTER REVISION and the final countdown – ECON 1 - 18 May pm, Econ 2 - 25 May am
Easter Revision day – AS 9am-12.30
Resources
Use the following tasks to add to your Easter Revision plan – remember to treat as small bite-size sections.
1. Specification: Keep traffic lighting (RAG sheet) the specification and prioritise the red and ambers rather than just cover the course from start to finish.
2. Revise key terms – know your definitions (2 DEF), use glossary.
2. Revise key terms – know your definitions (2 DEF), use glossary.
3. Practice your key diagrams – be ready for diagram test after Easter; how can you illustrate current issues: can you use the forces in supply and demand, what is the impact on the UK using AD/AS and why does it change?
4. If stuck on a topic make use of the Cherwell Economics You Tube Channel. I will do my best to fill remaining gaps on Wednesday, so you have until then to bring my attention to your main concerns for micro or Macro Economics. http://www.youtube.com/user/CherwellEconomics/featured
4. If stuck on a topic make use of the Cherwell Economics You Tube Channel. I will do my best to fill remaining gaps on Wednesday, so you have until then to bring my attention to your main concerns for micro or Macro Economics. http://www.youtube.com/user/CherwellEconomics/featured
5. Past papers – AQA website: Select sections of exam papers and email over to me for marking and feedback, I expect to see a regular stream of attempted parts to questions and will try my best to give you feedback within 24 hours. The key is practicing the AQA style of writing. Email: tgray@cherwell.oxon.sch.uk
6. Powell 2012: Use the resources from the revision conference and access the additional ones in the students shared area via Barracuda, or load up on memory stick/email home (size of some documents makes this difficult).
7. Student Unit Guide AQA Philip Allan Updates – worth getting on Amazon. Go over model student responses highlighting PEEE, do you see how they are offering precise logical chain of reasoning and critical analysis (evaluation), do they bring in something new at the end to win the argument.
8. Revision day - 2nd April – come along. Alert me to any priority areas before hand to get the most out of the day – the red highlights on your specification.
9. Keep checking over my blogspot for old tips and new postings: www.grayseconomics.blogspot.com. Do use the comment section for help and I will making a new post for all to benefit from.
10. Make use of Revision web-sites out there
http://www.economicshelp.org/
Revision Programme
Using the following AQA link: click here
Spread out you revision so that you complete the following practice programme over Easter alongside your general revision. For each response email me.
Treat each point as a separate revision task taking around 30 minutes rather than doing it all in one go.
Week 1 - Jan 2010
Revision Programme
Using the following AQA link: click here
Spread out you revision so that you complete the following practice programme over Easter alongside your general revision. For each response email me.
Treat each point as a separate revision task taking around 30 minutes rather than doing it all in one go.
Week 1 - Jan 2010
- Unit 01 - Multiple choice - email tgray@cherwell.oxon.sch.uk the questions you found difficult and are still unsure about the answers.
- Unit 01 - Answer a chosen Data Questions a) b) and c)
- Unit 01 Answer the same chosen Data Question - part d, be careful with exam technique
- Unit 02 - Multiple choice - email tgray@cherwell.oxon.sch.uk the questions you found difficult and are still unsure about the answers.
- Unit 02 - Answer a chosen Data Questions a) b) and c)
- Unit 02 Answer the same chosen Data Question - part d, be careful with exam technique
Week 2 - Jan 2011
- Unit 01 - Multiple choice - email tgray@cherwell.oxon.sch.uk the questions you found difficult and are still unsure about the answers.
- Unit 01 - Answer a chosen Data Questions a) b) and c)
- Unit 01 Answer the same chosen Data Question - part d, be careful with exam technique
- Unit 02 - Multiple choice - email tgray@cherwell.oxon.sch.uk the questions you found difficult and are still unsure about the answers.
- Unit 02 - Answer a chosen Data Questions a) b) and c)
- Unit 02 Answer the same chosen Data Question - part d, be careful with exam technique
Thursday, 22 March 2012
A2 Revision
A2 ECONOMICS
EASTER REVISION and the final countdown – ECON 1 - 18 May pm, Econ 2 - 25 May am
ECON 3 – 12 June pm; ECON 4 – 20 June am
Easter Revision day – AS 9am-12.30; A2 1pm – 3.30pm
Resources
Use the following tasks to add to your Easter Revision plan – remember to treat as small bite-size sections.
1. Specification: Keep traffic lighting (RAG sheet) the specification and prioritise the red and ambers rather than just cover the course from start to finish. We are yet to cover the Labour Market (monopsony and monopoly) in ECON 3 and WTO and protectionism (tariff diagram)
for ECON 4.
2. Revise key terms – know your definitions (2 DEF), use glossary.
3. Practice your key diagrams – be ready for diagram test after Easter; how can you illustrate current issues: QE3 or dominant forms advertising.
4. If stuck on a topic make use of the Cherwell Economics You Tube Channel. I will do my best to fill remaining gaps on Wednesday, so you have until then to bring my attention to your main concerns for micro or Macro Economics. http://www.youtube.com/user/CherwellEconomics/featured
5. Past papers – AQA website: Select sections of exam papers and email over to me for marking and feedback, I expect to see a regular stream of attempted parts to questions and will try my best to give you feedback within 24 hours. The key is practicing the AQA style of writing. Email: tgray@cherwell.oxon.sch.uk
6. Powell 2012: Use the resources from the revision conference and access the additional ones in the students shared area via Barracuda, or load up on memory stick/email home (size of some documents makes this difficult).
7. Student Unit Guide AQA Philip Allan Updates – worth getting on Amazon. Go over model student responses highlighting PEEE, do you see how they are offering precise logical chain of reasoning and critical analysis (evaluation), do they bring in something new at the end to win the argument.
8. Revision day - 2nd April – come along, attend the AS as well if possible. Alert me to any priority areas before hand to get the most out of the day – the red highlights on your specification.
9. Keep checking over my blogspot for old tips and new postings: www.grayseconomics.blogspot.com. Do use the comment section for help and I will making a new post for all to benefit from.
10. Make use of Revision web-sites out there
http://www.economicshelp.org/
Create your own Easter Revision programme
4 (a) Explain the main factors to be taken into account when conducting a cost benefit analysis
of a proposed investment in a major sports complex, such as an Olympic stadium.
(20 marks)
(b) Evaluate the possible effects on UK markets of the decision to locate the 2012 Olympic
Games in London.
Create your own Easter Revision programme
Econ 4 work due - EU enlargement, see earlier blogspot post.
Econ 4
Study Fiscal Policy: Direct, Progressive, Flat Tax, Canons, PFI, Automatic stabilisers, structural/cyclical deficits, discretionary, OBR, Ricardian Equivalence, Crowding Out
Skills focus
Essay
b) Discuss the impact on the UK Economy of the attempt by the UK Government to reduce the levels of government borrowing and national debt.
Econ 3 - double session
Study Perfect Competition - assumptions, efficiency and welfare impacts, SR and LR analysis.
Study Monopoly - diagram, limit pricing, revenue maximisising, natural, effficency/welfare impacts, economies of scale, innovation, price discrimination.
Skills focus:
Data Q2 June 2010 - Competition and Monopoly: click here
Econ 4
Study Supply Side Economics, impact on productivity/exports
Skills focus
Data Q Jan 09 Oil shock: click here
Econ 3
Study Oligopolies - Kinked demand, game Theory
Data - old exam paper - ECN5 June 08 - patent: click here
Econ 4
Study Globalisation - practice using competitive and comparative advantantage
Econ 3
Study - Efficiency: competitive, monopoly, growth and mergers, technology
Econ 4
Study: Exchange Rates,practice using Marshall Lerner Condition and J curve
Essay - ECN6 - June 08 Q4
4 (a) Explain how a currency’s value against other currencies might be determined. (20 marks)
(b The value of the pound sterling fell by 25% against other major
currencies.
Evaluate the extent to which this might have an impact on UK economic growth or the UK's Balance of Payments.
(30 marks)
For Mark Scheme: click here
4 (a) Explain how a currency’s value against other currencies might be determined. (20 marks)
(b The value of the pound sterling fell by 25% against other major
currencies.
Evaluate the extent to which this might have an impact on UK economic growth or the UK's Balance of Payments.
(30 marks)
For Mark Scheme: click here
Econ 3
Study Environmental Market Failure - externalities and regulation
Essay ECN5 Jan 09 Q4
4 (a) Explain the main factors to be taken into account when conducting a cost benefit analysis
of a proposed investment in a major sports complex, such as an Olympic stadium.
(20 marks)
(b) Evaluate the possible effects on UK markets of the decision to locate the 2012 Olympic
Games in London.
Wednesday, 21 March 2012
A2 Economics EU Expansion
FINAL DEADLINE: FRIDAY 27 APRIL
Homework - Study Anderton Chapter 89 Common markets, especially the Applied Economics Section.
Look at the Data Question extracts on Turkey p635 then, rather than answering the questions set, as a 25 mark response answer the following question: Discuss the impact on the UK of Turkey joining the EU.
Email responses to : tgray@cherwell.oxon.sch.uk
Homework - Study Anderton Chapter 89 Common markets, especially the Applied Economics Section.
Look at the Data Question extracts on Turkey p635 then, rather than answering the questions set, as a 25 mark response answer the following question: Discuss the impact on the UK of Turkey joining the EU.
Email responses to : tgray@cherwell.oxon.sch.uk
Friday, 16 March 2012
Experiements in Economics: From the Mocks to the Exams
Revision tip 1: Have you traffic lighted the specification, guide to the course - folder check next week.
Why you should be making use of You Tube Cherwell Economics: click here. It means you get more time in lessons to correct your understanding and master your exam technique.
Revision Tip 2: Revise key Economic terms = 5 easy marks for defining at start of data and lots of marks elsewhere in multiple choice and part c and d of your data response. Create cue cards. Next multiple choice tests on 22nd and 23rd March Econ 1 and 2.
Revision Tip 3: Ray Powell's back of an envelope, whenever you get the chance practice supply and demand diagrams for Econ 1 and AS/AD diagrams for Econ 2. Keep practicing - even if you think you know it. It is a good way to think through economic problems, I still do it!
Remember your mocks:
Cover the entire course in your revision plan
Make sure you stick to your plan and revise enough.
Master exam technique: Practice, Practice, Practice in class and out of class - email attempts to: tgray@cherwell.oxon.sch.uk
Why you should be making use of You Tube Cherwell Economics: click here. It means you get more time in lessons to correct your understanding and master your exam technique.
Revision Tip 2: Revise key Economic terms = 5 easy marks for defining at start of data and lots of marks elsewhere in multiple choice and part c and d of your data response. Create cue cards. Next multiple choice tests on 22nd and 23rd March Econ 1 and 2.
Revision Tip 3: Ray Powell's back of an envelope, whenever you get the chance practice supply and demand diagrams for Econ 1 and AS/AD diagrams for Econ 2. Keep practicing - even if you think you know it. It is a good way to think through economic problems, I still do it!
Remember your mocks:
Cover the entire course in your revision plan
Make sure you stick to your plan and revise enough.
Master exam technique: Practice, Practice, Practice in class and out of class - email attempts to: tgray@cherwell.oxon.sch.uk
Tuesday, 13 March 2012
Deciphering the Mocks
Examiners make the following comments, but what do they mean?
K = Knowledge
D = Defined
Ap = Application, use of data
I = Issue identified, in miost essays you need to identify around 3 issues.
An = good Analysis, weak analysis is indicated by annotation such as: ?, because?, ? , may?, might, so?
EV = basic evaluation will conisder alternative views i.e. however, good Evaluation will challnges the assumptions behind the analysis as you move through your answer. In addition excellent Evaluation will offer powerful insights using the WEESTEPS approach and in conclusion will bring a new powerful insight or point in to win the case.
NR = Not relevant
BoD = Benefit of Doubt - there is something in what you are writing but lacks clear logic, BOD+ is more convincing, BoD- is less convincing.
QWC = Quality of Written communication, struggling to follow what you are saying, common with over long sentences.
NATQ/ATQ = Not Answering the Question, similar to NR
rpt = repeat, normally seen when students simply say what the diagram shows rather than using market forces in ECON 1 or explaining why AD/AS is shifting and why this is having a macro-impact; also often witnessed at the end of an essay in conclusion when the students jsut repeats all the arguments for and against and takes one side.
K = Knowledge
D = Defined
Ap = Application, use of data
I = Issue identified, in miost essays you need to identify around 3 issues.
An = good Analysis, weak analysis is indicated by annotation such as: ?, because?, ? , may?, might, so?
EV = basic evaluation will conisder alternative views i.e. however, good Evaluation will challnges the assumptions behind the analysis as you move through your answer. In addition excellent Evaluation will offer powerful insights using the WEESTEPS approach and in conclusion will bring a new powerful insight or point in to win the case.
NR = Not relevant
BoD = Benefit of Doubt - there is something in what you are writing but lacks clear logic, BOD+ is more convincing, BoD- is less convincing.
QWC = Quality of Written communication, struggling to follow what you are saying, common with over long sentences.
NATQ/ATQ = Not Answering the Question, similar to NR
rpt = repeat, normally seen when students simply say what the diagram shows rather than using market forces in ECON 1 or explaining why AD/AS is shifting and why this is having a macro-impact; also often witnessed at the end of an essay in conclusion when the students jsut repeats all the arguments for and against and takes one side.
Monday, 12 March 2012
Supply Side Economics
Associated with policies to improve the UK's potential output, best illustrated by showing the LRAS or PPF shifting out creating a win-win scenario of sustained growth and lower cost push inflationary pressures.
Phil Holden's video on Supply side economics covers the mainstream free market view and the government interventionist approach, with evaluation click here.
Homework - complete the worksheet this Friday 16th March
Main critique of supply side economics is that if actual growth is not lifted you may see demand deficient negative output gap with rising unemployment. In addition the policies may not work. In either case you need to fully explain why.
Phil Holden's video on Supply side economics covers the mainstream free market view and the government interventionist approach, with evaluation click here.
Homework - complete the worksheet this Friday 16th March
Main critique of supply side economics is that if actual growth is not lifted you may see demand deficient negative output gap with rising unemployment. In addition the policies may not work. In either case you need to fully explain why.
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