AS and A2 Homework: Deflation Podcast - listen to before 28 November

Why do we want low and stable prices is a common exam question. In addition understanding the impact of deflation or high inflation on the economy is often a question that students become easily confused with. In this excellent short podcast, identified by the Principal Examiner for Paper 6EC02, the BBC carefully answers these questions for you. Following on from your studies in lessons - make some notes from this podcast that you can share with me over the coming week.


http://www.tutor2u.net/blog/index.php/economics/comments/in-the-balance-podcast-inflation-and-deflation-discussion

AS/A2 Revision - understanding Real GDP per capita at PPP

Great resource here as you prepare for your mocks:

http://www.tutor2u.net/blog/index.php/economics/comments/when-will-china-overtake-america/


Economist article on growth in China slowing down

Understanding of PPP as you make your own forecast on when China may overtake the USA as biggest economist in the world and the Big Mac Index.

A2 students retaking

Year 13 Economics AS Resits strategy

After School Economics club – Every Monday after School, Room 1

October break – AS Study Notes

November AS Mock

Given all students are unable to resit exam papers in January it is essential that as they progress through their A2 studies they are able to keep on top of the AS exam paper(s) that they have chosen to resit in May 2015 and will be able to enter for in Jan-Feb 2015.

In the past, extra-curricular revision sessions have been attended by students on an entirely voluntary basis.  There has been, however, a clear link between achievement in the examinations and attendance at the revision sessions.  With a view to helping every student to be as prepared as possible this year, I am confirming the timing of those sessions as every Monday after School in Room 1

In addition, attendance at revision sessions for a re-sit of a unit of study in Economics is compulsory. Students who do not attend the relevant revision sessions, though, may be withdrawn from those re-sits.  Where their timetables allow it, you have been encouraged to join the current Year 12 lessons.

Of course, to be fully prepared for your exams, you need to do more than just attend revision sessions.  Punctual attendance at timetabled lessons is vital.  Given the improvements in the ‘Sixth Form Study Area’ Ithe expectation is that you make effective use of your private study time, consolidating the work done in lessons, practicing exam style questions and effective revision notes. You have been asked to ensure you register with a member of the Sixth Form team at the start of these sessions and Mr Lawfull and I will undertake random spot checks of your studies and be available to answer questions when possible. Finally at this stage in the course you have been provided with guidance on what to study over the October break for your AS and A2 Mocks in November. I will be checking your AS study notes on Monday 3^rd November and talking you through specific AS exam skills at this session in preparation for your AS mock exam week beginning 10^th November.

AS Mock exam timetable – dependent upon student timetables

6EC01 paper 50 minutes

6EC02 paper 50 minutes

Monday 10^th November 3.20pm – 5.10pm, Room 1

Thursday 13^th November 9am-10.50pm, Gym

Friday 14^th November 1pm-2.50pm, Gym

 

Yours sincerely

Mr T Gray

Faculty Leader – Business, Economics and Enterprise

AS Economics - October Break Revision

Using Anderton 5th Edition, (purple) the following chapters and pages are recommended:

Both papers - light read chapters 1,2 and 3, in depth study Chapter 2 on Economic data

Mr Lawfull - 6EC01 - Chapters 5 and 6 Demand and Supply curves

Mr Gray - 6EC02 - Chapter 19 on National Economic Performance and Chapter 20 plus the following will also help: Ch 27 Economic growth, Chapter 30 Unemployment pages 209-210 and p213-216; Chapter 31 - Inflation pages 217-218 and p221-222; Ch 32 Balance of Payments p224 and p228-229. We will be revisiting Ch27 onwards so this is why the pages chosen are very selective and you should only look at this after comprehensively covering Chapters 19 and 20.

Year 12 Bank of England Competition

Dear Economist

If you are interested in becoming a member of the Cherwell Target 2.0 Team competing on Nov 26^th . I need you to read the following guidance and to be prepared to make a 3 minute powerpoint presentation and answer questions inside an additional 5 minutes on one of the following areas. Based on this presentation to be made on Monday 3^rd November in Room 1 between 3.20-4.20 I will select four students.

Presentation Topics, please choose one to base your recommendations on:

·         Financial markets

·         International Economy

·         Money, credit, demand and output

·         Supply, costs and prices

Good luck

Mr Gray

GUIDANCE

You will receive final heat instructions shortly, but below are a few reminders. You will find more information on the Target Two Point Zero website in the FAQs section.

• The objective is for your team to make a presentation that sets out their view on current economic conditions and future prospects, culminating in a policy recommendation aimed at meeting the inflation target which is currently 2%. In doing so, teams may wish to consider how their decision fits with any 'forward guidance' communicated by the Monetary Policy Committee. Your team should decide on the level of Bank Rate, asset purchases or sales, and whether to provide forward guidance taking the MPC's decision set on 6 November as the basis of your decision. Your team's decision therefore has three parts: whether to increase or decrease Bank Rate; whether to increase or decrease the level of asset purchases; and whether to provide any new forward guidance for future monetary policy.

• The rules require that presentations should be no more than 15 minutes long, but they can be shorter. It is the quality of the argument rather than the length of the presentation that is important. Following the presentation, the judges will ask the team some questions. When answering judges' questions, the approach used is at the discretion of the teams. The key point is that team members should work together as a team. Teams will be marked down if answers are dominated by one or two team members.

• Each team member must make a significant oral contribution to the presentation. Team members may refer to hand-held notes and to their visual aids but they should not read verbatim from their scripts, laptop screens or visual aids.

• The format of the presentation is up to the team. PowerPoint facilities will be provided. It may be possible to provide other equipment if specifically requested. PowerPoint presentations must be in Microsoft PowerPoint 2010 compatible. The presentation should be stored on a USB Memory Stick but should not be compressed i.e. no zip-files. It is advisable to avoid unusual fonts and advanced features.

• Teams must bring 3 printed handouts of their presentation for the judges. The handouts will not to be taken into consideration by the judges in their marking and you will not be penalised if, for technical reasons, you are unable to provide them. The handouts are simply to help the judges, who find it useful to have hard copies of the presentation, on which to make notes. They also provide back up in a format which does not rely on computer technology in the case of equipment failure on the day. The format is up to teams. The important thing is that the printed slides are clear and easy to read with space to make notes. Any last minute changes to slides can be made in manuscript at the event. Teams will not be marked down for this.

DATA

The next set of monthly datasheets were available on Friday 10 October.

Please note that the latest MPC minutes have been published. Please click on the following link to access:
http://www.bankofengland.co.uk/publications/Pages/default.aspx

PARTICIPANTS

A full list of participants in this year's Challenge is also available on the Target Two Point Zero website.

A2 Economics - Development Economics Exam tip: CONTEXT

You must in your essays use specific examples and when it asks for you to look at 'a developing country of your choice' ensure you draw on one country as your example throughout your response. To do this you need to improve your knowledge of case study examples from LEDC and BRIC nations. To do this you need to:

1. upgrade your development project, 
2. make use of Anderton
3. complete the worksheet questions and answers, 
4. make use of the very useful resource Tutor2U - follow this link to look at some case study examples then click on the Development Economics link at the end to access more resources.

http://www.tutor2u.net/blog/index.php/economics/comments/development-economics-e-book

Protectionism

Really good short video from PAJ here - but trying redoing the diagram using letters:

http://www.youtube.com/watch?v=dSQTbd2iJtY

Exam tip - it is essential to discuss Protectionism in context. It is very difficult for a country to go alone for example the Uk is a member of the EU as a trading bloc. The EU's trade relationship with Africa is a complex one as illustrated by the following article:

http://www.dw.de/high-duties-keep-food-imports-from-poor-countries-out-of-europe/a-5127705