Monday 26th and Weds 28th November Independent study

A2 Economics  - study rest of Powell Ch 19 Answer short questions p326

AS Economics – study rest of Powell Ch 18 Answer short questions p224

To make it easier - skim read and make study notes, provide short answers to the questions; you have until the start of next week to work on this.

AS re-sit revision

Next week 28 Nov starts with Unit 1. Tutor2u has a good article on fish and chips for looking at complements: http://www.tutor2u.net/blog/index.php/economics/comments/whats-that-got-to-do-with-the-price-of-chips

Econ 2 - worth spending time thinking about how fiscal policy, monetary policy and supply side policies may support each other or conflict e.g savings. Also draw trade off diagrams for all six macro objectives.

Thank you to the following for attending very long session today finishing at 4.30pm: Xin, Anuzka, Alfred, Alex K, Alex M, Julian, James, Sean, Lewis, Rhys, Nadeem, Elliot, Taylor, Jack and Tom.

Revision Guru website =  http://www.revisionguru.co.uk/economics/aqa2index.htm

AS Economics - Circular Flow of Income

Independent Study:

Go back over notes and practice using Circular Flow of Income diagram. Use PAJ Holden's video clip, remember to use pause and take notes: http://www.youtube.com/watch?v=gaEY-p-21F8

Stretch yourself: Investigate 'Says Law' and 'Paradox of Thrift.'

Remember to use the basic scaffold for 8 marks: If, then, so...

 

•If households fear recession and the loss of their job, then they save more to be able to cope with a loss of income as witnessed by a rise in the savings ratio by 8 percentage points in 2007-2009. As consumption declines firms have to cut back. As profits fall they reduce workers wages and making workers redundant, known as cyclical unemployment. If national income declines for more than six months, as shown in the circular flow of income diagram, so the very recession people feared will come true.

AQA AS resit revision

Please access on the student area the Economics resources for AS which have been updated. you are advised to follow the scheme of work and to traffic light it to shape revision sessions.

You are strongly encouraged to attempt past exam questions. For multiple choice identify the questions you get wrong and after looking at the mark scheme still do not know why that is the right answer - email me these questions to help you. For data response at first practice each sesction and email me, then as you get feedback I will guide you on what areas to practice the most. Email: tgray@cherwell.oxon.sch.uk. Finally do use the Economics YouTube clips by PAJ Holden and myself available on Cherwell Online channel.
Econ 1 - Exam 15 January pm
Revision sessions 3.15-4pm, Room 1
18 October - going over the basics (S&D, PED, PES, YED, XED) with market failure and government interventions/failure: externalities and  public goods; monopoly and poverty.
October break - revise/complete practice papers - email in as above
8 November  - Complete basics and Exam practice
22 November
6 December
20 December
December break - revise/complete practice papers - email in as above
7 January
14 January - pre exam prep.

Econ 2 - Exam 28 January pm
Revision sessions 3.15-4pm, Room 1
11 October - Getting feedback on where you went wrong on paper 1 or 2 using e-AQA. Going over the basics on Growth and Unemployment (Fiscal policy); Inflation (Monetary policy) and trade deficits.
25 October - completing the basic fundamentals of Macro-economics
October break - revise/complete practice papers - email in as above
15 November
29 November
13 December
December break - revise/complete practice papers - email in as above
10 January
17 January
24 January - pre-exam prep.

Edexcel AS Specification and scheme of work

For Edexcel's specifaction please see the following link:
http://www.edexcel.com/quals/gce/gce08/economics/Pages/default.aspx
The Scheme of work is in the student shared area and is constantly revised as more resources become available.

Perfect Competition Homework

05 Explain what is meant by a ‘perfectly competitive market’ (Extract D, line 29) and, using
a diagram to help you, analyse how a fall in demand across the retail industry can be
expected to affect the sales and profits of an individual retail firm operating in a perfectly
competitive market. (10 marks) June 2010



Use Tutor2u powerpoint to recap class notes: http://www.tutor2u.net/economics/presentations/a2economics/micro/PerfectCompetition/player.html