Economics

Celtic Tiger

This is my worst subject by far and I could really do with some help please. I was blessed with two terrible "first time" teachers who could never control the class so we did practically nothing.

Anyway I have a week off to study for economics but just basically don't know what to study. Advice of my teacher : study the whole book........hmmm ok cheers sir thanks for narrowing it down I know all the market structures well and thats about it atm. What are the other chapters I should be focusing in on? Any "tips" on what could come up?

And yes I'm doing honours :eek:

Cheers

selling_irish

Yeh I have some brilliant tips, especially if you're mainly lookin to just pass at least.

Firstly, DON'T study using your economics textbook, ESPECIALLY if you're using the one that I used for the past two years (Modern Economics for Irish Students - a dreadfully laid-out, terribly written, ugly, boring, confusing-looking, massive book).

Secondly, buy Less Stress More Success Economics for Leaving Certificate. This book is amazing! It summarises the WHOLE COURSE (micro + macro) into 50 relatively small pages, with everything you need in order to sit the exam included.

Do you wanna know the best part? We are guaranteed at least 3 section-B questions on Micro-economics (this has been the case in all the previous years.). And we only have to answer 4 section-B questions in total! Even better than that, the Less Stress book summarises the ENTIRE micro section into, wait for it, 17 pages!!! This book is your god for the next 7 days!
It makes everything so clear, and only includes the stuff that you need for the exam, so none of the text-book sh1te.

In my mocks, my economics exam was on a monday. I spent the whole of sunday studying the micro-economics section using the Less Stress book, and that was the ONLY study i did that for mock exam. I got 53% (i.e. I passed, and the some...).

So there you go. That's your economics sorted out. This Less-Stress book is one of the very small amount of LSMS books that do actually provided less stress, and more success.

Go get it as soon as possible. It's only about €8.00

c ye

*I'M FEELIN YOUR PAIN*

Squall

1)You already know the market structures so your sorted for at least one question(just make sure you know the graphs for all of them)

2)Elasticity is a handy topic. Not much to it really. Just a couple of formulas and the things that affect PED and SED etc. Its fairly frequent too.

3)My teacher thinks Economic Growth + Development is likely this year. Its a Macro topic and easy so worth a look.

4) National income comes up pretty often. Learn all the formulas for the multiplier etc. And also the circular flow of income as most questions in this section are based around these areas.

Just a couple of topics that are easy(ish) and are pretty frequent. Theyll give you somewhere to start anyway.

Did feck all for me Pre. Still managed 83%. Man i love this subject

eirebhoy

Economics is the easiest subject by far!

I haven't got a clue about Macro and I didn't study for the Mocks and I got 58%.

Every year a market structure question comes up and also a question on a factor of production, there's two questions that will only take a couple of hours to study.

The last five years 4 questions have come up on Micro, so I'd say they'll stick to that, but if just 3 come up, each question is only 15% and you should know something on the Macro.

I just can't believe such a small amount of people do Economics.

Celtic Tiger

Well only 4 people out of 20 passed our mock paper lol (I got a terrific 34% which I was proud of ) In the other economics class with different teacher they did same paper and all passed.

We are guaranteed at least 3 section-B questions on Micro-economics

Cool didn't know that I got LSMS a few weeks ago and was looking through it tonight. Nifty stuff Any tips on how to prepare section A........different questions seem to come up every year Gonna get cracking tomorrow, lots to do.

Squall

Its section A that seperates the men from the boys. Do a good section A and your set up for a very good paper.

As for tips on studying it theres none really. Excepot know every definition in the course. Theres like 300 odd of them so its not fun.

We might be lucky and get nice spoofable ones.

eirebhoy

Originally posted by selling_irish
Even better than that, the Less Stress book summarises the ENTIRE micro section into, wait for it, 17 pages!!!

I don't know how the whole Micro section is fit into 17 pages but could someone please scan those pages and send them to me, Please!

heres my address:
walsh5@utvinternet.com

Please, someone help me, it won't take you long!

cheers.

sikes

economics is my last exam and its used to be my best subject but can't revise at the moment.

i have one question that i can't find the answer to.

What is a tax wedge?

anybody?

Squall

As far as i remember tax wedges are based on how much you earn. like If you earn 35,000 a year youd be in 30,000 + tax wedge. Theres several different tax wedges and which one your in affects the amount of tax you pay, your tax credits etc.

I know thats pretty vague so do a google search for it, it should give you some info. I think ill go do that myself.

valor

never heard of a 'tax wedge', but what your talking about squall is a tax bracket. It may also be called tax wedge?

Squall

Hmm you could be right. Ah well havent googled it yet

Syn-Boy

Yeah, that is a tax bracket and not the tax wedge.

The tax wedge is the difference between the consumption wage(take home pay of the worker) and the product wage(workers GROSS pay + payroll taxes[Employer's PRSI])

eirebhoy

What are your predictions for the paper?

I'm only doing the Micro questions, I never had a clue about the Macro and thats probably not going to change.

Anyway, my predictions are Monopoly, Enterprise (Big feeling) and Price Elasticity.

Also, I might look at one or two chapters on the Macro, what Chapters do you think I should look at?