Economics LC 2009 (H + O)

CyberWaste

Surprised theres no thread for it.

Anyway, im doing O level and got a B in the mocks, but do you think this will be harder? is there a very good chance that classical economists and that type of stuff will come up?

Also, same for oligopoly? I haven't studied it in ages and dont really want to.

snazzy

Oh
I've no idea what to expect for Economics!
I reckon you're really just better off knowing History of Economics because it's a pity to waste marks on easy theory. It's just getting there that sucks.

And yes, I'd be paranoid to leave out Oligopoly!
It's just the graph thats the scary thing! The theory is actually fine and you can't really compare it to other market structures as much.

p1akuw47h5r3it

snazzy wrote: »

Oh
I've no idea what to expect for Economics!
I reckon you're really just better off knowing History of Economics because it's a pity to waste marks on easy theory. It's just getting there that sucks.

And yes, I'd be paranoid to leave out Oligopoly!
It's just the graph thats the scary thing! The theory is actually fine and you can't really compare it to other market structures as much.

I'm not sure about pass but for honours u need to know oligopoly and imperfect comp as one is bound to come up...

The mrkts are pretty easy to learn... It's jus a lil boring

David McArdle

Hi
I did OL Economics in 2008. I dropped down on the day and I knew i would. I briefly looked over oligopoly, but not in great detail. The reason being, is that Oligopoly has never come up before and i believe it isnt on the OL course. I asked my teacher last year does it come up, and he said no, only for HL.
So last year Monopoly came up, which was a blessing for me, so either Perfect Comp, or Imperfect comp are more than likely to come up.!

Remember this is only one question.!

That_Guy

Lads and lassies I wish you the best of luck in this exam. I found it one of the toughest papers I did in my LC (2007).

I'm not altogether sure about OL but for HL I studied virtually anything I could.

It is a big enough course and it's one I didn't particularly enjoy. Maybe it was down to the teacher I had.

I managed to scrape a pass in it.

It is a very doable paper if you're in the right state of mind for it. A lot of common sense really does go a long way with some of the questions.

I'm just looking over my LC exam papers now and I'm now feeling that I knew I could have answered some things a lot better.

Best of luck in it again.

GVNDNN

I'm dreading this paper

I could never get into it...
I have gone over and over the same material but it just doesn't stick

Any tips?

Time Magazine

Hey all,

Just to say if any of you have any specific questions feel free to ask for help on the Economics forum. We're usually pretty quick to help.

Good luck.

CarefulNow

Hey does anyone have any predictions for the HL paper? I really need a C3 or higher. I've a week to study for it now so hopefully i'll make good use of the time .

george.

Im hoping for questions on:

-markets: oligopoly &/or imperfect
-factors: capital & land
-tax & fiscal policy
-costs & elasticity

these qs came up in the DEB and examcraft mocks i'm pretty sure, so hopefully they'll come up on the day!

xOxSinéadxOx

hope there's an elasticity question

Saul-Good

Economics is a sinking ship for me I just want to get as far away from it as soon as I can.

I'm focusing on Micro-Economics in the week I have off now as it's a small enough section in comparison to Macro and 3-4 question come up on it every year in Higher level, I'd suggest this as a study guide for anyone who feels unsure about it like me.

MrPirate

I'd say something on the banking system and the current economic climate has over 9000% chance of coming up.
I gotta say, I had the greatest economics teacher ever. He shoved the stuff down your throat, but because of that, I can remember most of the course right now despite the fact I haven't opened my economics book in 2 months. ^^
Anyway, elasticity too could come up.
A question about the budget, unemployment, land? I don't really know.

Saul-Good

They really could take so many angles for an economic slow down question. Inflation, demand, banking credit creation, demand for labour they could bend anything around the general topic of recession when you think about it!

Gi joe!

Yeh, I'd be positive a general 'how did the banking systen implode' question will come up, aswell as 'what could irish gov do to tackle unemplyment/recession'
Topical stuff is always popular

Part from that, economics seems very unpredicatable:(

K4t

The Economist wrote: »

Hey all,

Just to say if any of you have any specific questions feel free to ask for help on the Economics forum. We're usually pretty quick to help.

Good luck.

Might take you up on that. Cheers!

I've been looking forward to this exam for so long and that's not even because it's my last! Economics > Sex.

Going on a six day binge now, a bit of micro, a bit of macro, a bit of JMK, hmmmm

MrPirate

"Outline five ways in which the Irish government has f*cked up your future by their handling of the current economic situation." (30 Marks)

irishmonkey

Anyone have current figures, and also... how to use them?
Attempting to teach myself.

stylee

MrPirate wrote: »

"Outline five ways in which the Irish government has f*cked up your future by their handling of the current economic situation." (30 Marks)

haha...good one:)

MrPirate

irishmonkey wrote: »

Anyone have current figures, and also... how to use them?
Attempting to teach myself.

http://www.cso.ie/
Everything involving stats/figure is up on there.

Économiste Monétaire

irishmonkey wrote: »

Anyone have current figures, and also... how to use them?
Attempting to teach myself.

What kind of figures are you looking for? Inflation? GDP? GNP? et cetera...

JSK 252

You have been appointed Minister for finance.
Draft an economy saving government budget. 75 marks.

Mallox

didn see a thread so thought id start one ... so wat ye doin for it .. ive all micro prepared and national income as a back up hoping that will be enuf

english4490

There is one mallox you didn't look very far!!

Mallox

english4490 wrote: »

There is one mallox you didn't look very far!!

oh ....

:mad:


english4490 we meet again .. my sworn rival on boards .. wat do you want this time ...

Mallox

i get the feeling alot of ppl really dont like economics :eek::eek:
i love this subject .. its one of the shortest courses in the leaving cert and you have a choice of 8 questions to do 4 how bad like!!!
most of my class will be aiming for As in this ..

GVNDNN

I really don't like Economics

But hey we have 5 days,
It's very achievable to do very well if your struggling atm!



Plus
http://economicshelp.org

It's an english wenbsite but it's very good :cool:
Also the 2fm economics notes are good

Good luck everybody

phic

I think economics is just one of those subjects you either get or you don't!
luckily for me I get it, but havn't looked at it in bout a month so i really have to get to work!
i'd say learn how banks create credit, and why they shouldn't create too much, because thats pretty topical nowadays!:rolleyes:

Liam O

um, I always found economics to be an easy course. The Exam is so predictable. Basically imperfect comp. will probably come up if not for a huge surprise which would be in the oligopoly form, National Income always comes up. Capital will probably come up although it may be linked in with land. There will be a few more questions on things like employment etc. but basically just look at the patterns from the last few years because the course just constantly repeats itself.

Forgot to say that supply and demand always come up in some shape or form

xOxSinéadxOx

I love economics, only got a C in the mocks, but I'm planning on learning loads of **** before wednesday. what should I look at goys? my teacher said it's easier to get marks on micro cos once you know it you know it, macro can be a bit iffy sometimes, obviously I'm not going to do just macro or micro but I'm going to do more of one of them, thing is I think I prefer macro. what's everyone else doing more of?

Liam O

xOxSinéadxOx wrote: »

I love economics, only got a C in the mocks, but I'm planning on learning loads of **** before wednesday. what should I look at goys? my teacher said it's easier to get marks on micro cos once you know it you know it, macro can be a bit iffy sometimes, obviously I'm not going to do just macro or micro but I'm going to do more of one of them, thing is I think I prefer macro. what's everyone else doing more of?

well basically micro is like graphs and explaining things with a concrete marking scheme which rewards correctness but the macro marking scheme is a lot more general and harder to award marks on. If you do nothing else in micro, do supply and demand, imperfect comp. and capital/land. you'd be grand then learn a bit of macro and your sorted.

Rob!

JSK 252 wrote: »

You have been appointed Minister for finance.
Draft an economy saving government budget. 75 marks.

You know they'd totally capitalize upon our ideas!:p

Did you ever notice whilst studying economics over the past 2 yrs you could point out straight away errors in the government ideas to fill the budget deficit?

Its kinda sad just how beneficial the basic principals of a second level economics book could be to our political figures - also shows you how ridiculously unqualified they are to be in a position to dictate the financial running of a nation........

Gi joe!

Rob! wrote: »

You know they'd totally capitalize upon our ideas!:p

Did you ever notice whilst studying economics over the past 2 yrs you could point out straight away errors in the government ideas to fill the budget deficit?

Its kinda sad just how beneficial the basic principals of a second level economics book could be to our political figures - also shows you how ridiculously unqualified they are to be in a position to dictate the financial running of a nation........

You got that right, which moron I wonder had the bright idea of letting a solicitor handle the finances of our country:rolleyes:

internetaddict

Mallox wrote: »

i get the feeling alot of ppl really dont like economics :eek::eek:
i love this subject .. its one of the shortest courses in the leaving cert and you have a choice of 8 questions to do 4 how bad like!!!
most of my class will be aiming for As in this ..

Yeah I mean you could get away with doing well without answering any waffle-y(?) government questions, there's loads of choice.

xOxSinéadxOx

yeah but the government has economic advisors! it's not your man brian lenihan deciding what to do :pac:

K4t

xOxSinéadxOx wrote: »

yeah but the government has economic advisors! it's not your man brian lenihan deciding what to do :pac:

Basically, economics is all theory. Why do you think there's so many 'assumptions'? That's why it's so interesting though, Different theories, keynesian, monetarism etc.

Make sure you do all the amrkets if studying them. There could well be a question incorporating all of them, seeing as it's common to predict which one is coming up.

podgedurka

imperfect (be able to compare with monopoly/oligopoly/ perfect)
capital
elasticity/demand
costs and revenue
national income (multiplier)
foreign trade( if u dont know it dont touch it now)

JSK 252

My tips:

Imperfect competiton/ oligopoly
Elasticities
Capital
International Trade- Especially the drop in the value of the sterling compared to the euro
Government- Current budget deficit is going to be ****ing there! It has to be! Also the effects of income levys

JSK 252

2 definitions for the government which are worth knowing are the exchequer borrowing requirement and the public sector borrowing requirement. I dont have to give the reason do I?:)

podgedurka

These are also likely as shorts
effect of deflation(disinflation)/ how a govt could reduce it
characteristics of oligopoly/ methods of collusion
point and which dmr sets in
calculation for CPI consumer price index
know contributions by monetarists or supply side economists

7Steve

podgedurka wrote: »

know contributions by monetarists or supply side economists

And what would they be?

K4t

^ Advocation of free markets (no government intervention, some regulation), Privatisation (of healthcare, education etc.), Low income tax to increase the incentive to work and increase the gap between those working and those on social welfare, less power of trade unions etc etc