**IS IT TOO LATE TO TAKE UP ECONOMICS**

PictureFrame

I'm in 5th year and just finished for the Christmas Holidays.. Basically I took my Christmas exams and got the following results.
1. Irish OL 98% A1
2. English HL 73% B3
3. Maths OL 84% B1
4. French HL 77% B2
5. Music HL 74% B2
6. Geography HL 95% A1
7. Business 97% A1

I'm worrying (due to an inconsistent) English, French and LCVP Teacher that I will not reach my target of 500 points. I am considering taking up Economics at Higher Level to try and boost my points. I have heard very good reports from the book "Rapid Revision Economics". I basically would need a B3 or possibly a B2. I have a good business head and am quite good at pass maths (see results above).

I need someone realistically to tell me is this possible?. I would be working myself without grinds until the exam. I would be willing to invest time in it over the summer months if it allows me to achieve my goal. Any comments etc. welcome and thanks in advanced for the help.

Ciaramb92

It probably is possible as I think Economics is a one year course so plenty of time to take it easy however, you said you'd need a B3 in it but you got a B2 in French and B3 in English. I know you said your grades in them were inconsistent but that shows you can do it so it might be better to put more effort in to French than put effort into starting a new subject from scratch.

PictureFrame

Ciaramb92 wrote: »

It probably is possible as I think Economics is a one year course so plenty of time to take it easy however, you said you'd need a B3 in it but you got a B2 in French and B3 in English. I know you said your grades in them were inconsistent but that shows you can do it so it might be better to put more effort in to French than put effort into starting a new subject from scratch.

Thanks for the speedy reply!. Well to be honest my before my Christmas exams in French i've never got less than an A1 in the subject this year.. I just have no idea of the reality of my abilities in the subject. My teacher is so nice and compliments everyone as we have a very small class of 11. I did however get the highest result in my year out of 2 classes (we had the same test).

Regarding English, I believe the subject is very subjective and I wouldn't like to put all my eggs in one basket with it. I was getting high C's low B's in 3rd year and got an A in the actual exam. So I don't know fully about my abilities..

Regarding Economics have you got any tips for me ie. learning, hours to invest etc.

Ciaramb92

PictureFrame wrote: »

Regarding Economics have you got any tips for me ie. learning, hours to invest etc.

I don't do Economics but try and spend 3 hours at the weekend, teamed with 2 half hours during the week. Without a teacher you'll need more time to learn the stuff and all..

Maybe speak to the Economics teacher in your school and see if they'll correct some work now and again and just help if you need it.

PictureFrame

Unfortunately, (due to living in the midst of the bog) Economics is not offered in my school. We're possibly the worst school for subjects ever as we have no Economics, Accounting, Ag-Science, Woodwork, Metalwork

Anyone that does Economics do you have any advice for a lost cause!

Patriciamc93

Well do classes outside school.............. for an hour a week. am in sixth year and have not learn't these notes yet so ya you can do it in a year!
Well i hope anyway cause i have a half of a year.

Just learn everything and relate it to present day! If that makes sense.

Ciaramb92

PictureFrame wrote: »

Unfortunately, (due to living in the midst of the bog) Economics is not offered in my school. We're possibly the worst school for subjects ever as we have no Economics, Accounting, Ag-Science, Woodwork, Metalwork

Anyone that does Economics do you have any advice for a lost cause!

Chances are you're business teacher(s) will be economics teachers too, even if it's not taught.

dabestman1

Took it up in sixth year myself, got an A1, so it is possible, took a good bit of studying as well

PictureFrame

Would it be possible to just learn the information all out of "Rapid Revision Economics"?. Or would I have to watch the news etc. to have the latest statistics?. Is it hard to retain the information dabestman1?. Any other good advice?.

Bottleopener

I'd say go for it. We were finished the course around Halloween of 6th year, so it really is doable.

PictureFrame

Thanks Bottleopener! Do you mind me asking how you got on in the exam?. And what is the best way to study Economics? Exam papers, notes etc.?

Bottleopener

PictureFrame wrote: »

Thanks Bottleopener! Do you mind me asking how you got on in the exam?. And what is the best way to study Economics? Exam papers, notes etc.?

Well I'm still in 6th year now, so obviously I have no leaving cert results yet :P.

There's a lot of learning to be done for economics - particularly definitions, there really are a lot. If you can find a good set of notes they'll be very useful, whilst exam papers are very important for recognising the pattern of questions and the expected manner in which answers are meant to be given.

Good luck with doing this, hope it goes well.

PictureFrame

Bottleopener wrote: »

Well I'm still in 6th year now, so obviously I have no leaving cert results yet :P.

Oh sorry I just assumed you were finished as you said "were" finished

[QUOTEThere's a lot of learning to be done for economics - particularly definitions, there really are a lot. If you can find a good set of notes they'll be very useful, whilst exam papers are very important for recognising the pattern of questions and the expected manner in which answers are meant to be given.[/QUOTE]

Would the book "Rapid Revision Economics" be a good set of notes to work from?.

DaveMur1

The rapid revision bok won't actlly be enough to get an A or B,
Around April/May before the leaving cert teachers will go through all current affairs as usually in different parts of each questions current affairs will come up.
Last by looking at this year's pre's that's pretty clear,NAMA, IMF,ECSB & Unemployment are starting to be very common in the exam questions.
I wouldn't look too much into you're other subjects as a good indicator of you're ability in economics,some people can't handle being thought elasticity & national income by a teacher let alone on thier own .
Doing economics , geography & businees does have it's upsides though,
Pay extra attention to some topics a they can overlap between each subject a good bit,on topics like.
Taxation,
Migration & the affecting factors,
Population,
Balance of trade/Payments,
Opportunity costs,
The general EU region comes up in all three alot too!

PictureFrame

Would you say i'd need more books than rapid revision?. Is there any main chapters/topics I should be looking at?. I would need at least a B3.. If I could get a B1 it would be fantastic.. Could you get a B by just learning the stuff from Rapid Revision word for word? Or would knowing the latest Economic news be compulsory to achieve a B grade?

DaveMur1

No there is no other books with all this modern information as it's a minority subject not taken by many students,
The most importnat chapters to know due to leaving cert popularity in the exam questions would be,
Elasticity,
Supply & demand,
4 Market structure chapters, (1 gauraunteed)
4 factors of production,(1 gauraunteed)
Finally the most popular not definite exam question is Government & the economy,very relevant to current affairs & should be covered well.
However,if you don't know enough of the introduction chapters these will be very difficult.
In relation to the current question aspects wait until a month or two before you're leaving cert a get one or two grinds in relation to the exxact popular current affairs & possible questions.
When you have eventually covered the course probably around August if you work during summer you should get the exam papers and just work through them for a good while,recognising the popular trends!

PictureFrame

DaveMur1 wrote: »

When you have eventually covered the course probably around August if you work during summer you should get the exam papers and just work through them for a good while,recognising the popular trends!

Thanks! How many hours a week would I have to invest to get the course finished before the summer of 5th year?.

MavisDavis

Pro-tip: read the newspaper. You have to be able to apply theory to real life to do well.

If you read the paper and take an interest in current affairs, it is quite easy to wing this paper. I'm not recommending that you just do that, obviously, I'm just saying that with a bit of knowledge (and a lot of BS), you can do well.

Oh and if you're doing a subject at home, you should probably do a Mock paper in it to see if you're answering questions correctly. I'd recommend www.mocks.ie, simply because I've never heard of any other site that offers the service. I used them for orals last year and thought they were good.

DaveMur1

PictureFrame wrote: »

Thanks! How many hours a week would I have to invest to get the course finished before the summer of 5th year?.

That's not really a realistic target to do a whole course in 6 months
especially when you have all of 6th year aswell. But if you really needed to for some reason it would take around 5-6 hours a week to make sure you actually understand it !

PictureFrame

DaveMur1 wrote: »

That's not really a realistic target to do a whole course in 6 months
especially when you have all of 6th year aswell. But if you really needed to for some reason it would take around 5-6 hours a week to make sure you actually understand it !

If I spent 5 hours a week during the school term and 7 hours a week during the summer would I have the course covered by September?.

Also what possibility would I have of achieving an A2?. Would you recommened I work through all the chapters first, or do a chapter and then find all the exam question associated witht that particular chapter and do all of them?. Does the exam paper vary hugely from year to year or could it be possible to try and predict the main topics that will be featured?. Is there any chapters that come up annually?. Thanks so much DaveMur1 your very good!. .. I just noticed (From your results posted on a different thread) that we do the exact same subjects!. Irish engliish maths frencu music business geography and economics!

DaveMur1

PictureFrame wrote: »

If I spent 5 hours a week during the school term and 7 hours a week during the summer would I have the course covered by September?.

Also what possibility would I have of achieving an A2?. Would you recommened I work through all the chapters first, or do a chapter and then find all the exam question associated witht that particular chapter and do all of them?. Does the exam paper vary hugely from year to year or could it be possible to try and predict the main topics that will be featured?. Is there any chapters that come up annually?. Thanks so much DaveMur1 your very good!. .. I just noticed (From your results posted on a different thread) that we do the exact same subjects!. Irish engliish maths frencu music business geography and economics!

Yes,that is alot of work though to put so much time in ,but if you do yes the course would probably be done, for the first 15 chapters or so just work through the course , then maybe have a look through the papers ,then finish the course & just work through the papes!
No the topics are actually very predictable ,
Chief examiner has already stated that every year,
A market structure will come up,(1 of 4)
A factor of production will also come up,(1 of 4)
And The history of economic thought will also come up in some form,as students are avoiding studying it!
There is also chapters that can vary each year but rarely do,
National Income,
Government & the economy,
Money & Banking,
Supply & demand!
All these have come up virtually every year or two in nearly all recent exams.
There is however a great choice in the economics exam only 4 questions have to be attempted on the paper.
Yes I noticed too that we do nearly all the same subjects,I do accounting on my own though aswell ,not recommended though to be honest it takes up way too much time to do a question!
You're other question was would it be possible to get an A2,yes it's not really that hard just try to stay in touch with current economic activities & bodies ,as they are becoming increasingly popular!!!

NotExactly

Just want to ask a question in relation to reading the papers to help with Economics. Should I read the Sunday business post every week or should I be watching the news every day?

PictureFrame

DaveMur1 wrote: »

Yes,that is alot of work though to put so much time in ,but if you do yes the course would probably be done, for the first 15 chapters or so just work through the course , then maybe have a look through the papers ,then finish the course & just work through the papes!
No the topics are actually very predictable ,
Chief examiner has already stated that every year,
A market structure will come up,(1 of 4)
A factor of production will also come up,(1 of 4)
And The history of economic thought will also come up in some form,as students are avoiding studying it!
There is also chapters that can vary each year but rarely do,
National Income,
Government & the economy,
Money & Banking,
Supply & demand!
All these have come up virtually every year or two in nearly all recent exams.
There is however a great choice in the economics exam only 4 questions have to be attempted on the paper.
Yes I noticed too that we do nearly all the same subjects,I do accounting on my own though aswell ,not recommended though to be honest it takes up way too much time to do a question!
You're other question was would it be possible to get an A2,yes it's not really that hard just try to stay in touch with current economic activities & bodies ,as they are becoming increasingly popular!!!

It's not that much work really.. If I do one hour a morning before school that's 5 hours a week without doing weekend study!. Same with the summer 1 hour a day is 7 hours a week!.

Funny enough I did Accounting with a grinds teacher for a while but didn't like it so I stopped it!. So If I learnt 4 Market Structures and 4 Factors of production that's a guaranteed 2/4 long questions on the paper?.

What exactly are market structures? Are they hard?. Also do you know any websites that provide notes for Economics?

DaveMur1

NotExactly wrote: »

Just want to ask a question in relation to reading the papers to help with Economics. Should I read the Sunday business post every week or should I be watching the news every day?

I don't actually bother to go out of myo way to do stuff like reading the Sunday business post ,just watch maybe a bit of the news a few days a week.Even things like listening to the RTE radio news station going in to school in the morrning!
Really the when you start going out of way like spending hours looking through a paper that's when you will lose interest in the subject !

DaveMur1

PictureFrame wrote: »

It's not that much work really.. If I do one hour a morning before school that's 5 hours a week without doing weekend study!. Same with the summer 1 hour a day is 7 hours a week!.

Funny enough I did Accounting with a grinds teacher for a while but didn't like it so I stopped it!. So If I learnt 4 Market Structures and 4 Factors of production that's a guaranteed 2/4 long questions on the paper?.

What exactly are market structures? Are they hard?. Also do you know any websites that provide notes for Economics?

Yes accounting cann be very annoying, I don't bother getting grinds but some topics are hard to self explain without a long time spent studying them.

The market structures are basically the firms that comprise each of the four types of markets & how they are organised in relation to each market.The appealling nature of these is that really every year you can narrow it down to two potential market sturctures that should come up!The same really applies to the factors of production.Neither are actually that hard but people don't like learning them when only 2 out of 8 will come up!!

Not really too sure of any notes websites but I found these definitions searching online before, there good for the short questions!

https://us.v-cdn.net/6034073/uploads/attachments/50738/131605.pdf

PictureFrame

Thanks for the link! I am going to get "Rapid Revision Economics" tomorrow.. Would you recommened I write my own notes learn them by heart and keep revising them?. I'm aiming to do 1 chapter a week until May, then with the summer I might try and upgrade that to 2 chapters a week. Any last tips on what chapters to start at the beginning? Or a timeline I should be working towards?.

DaveMur1

The first 6 or 7 chapters are just introduction chapters so do them first anyway ! Don't put a strict limit on time for each chapter as some are harder & longer than others meaning more than average time will be needed.With the revision book you don't really need to make your own notes just highlight key words to remember certain things by!

higgz

I'd advise against taking up a new subject at this stage of the year.

Economics is easy but it does require detail. Although you only have 5 honours subject, if you just work a bit harder with them, you should be safe for 500.

1. Irish OL 98% A1
3. Maths OL 84% B1

A safe 60 points from either of them. I do OL Irish too and it's a dos.

5. Music HL 74% B2
6. Geography HL 95% A1
7. Business 97% A1

I see 300 points here. Music is very easy IMO and if you put in a bit of work you should be capable of an A1.

2. English HL 73% B3
4. French HL 77% B2

These are great grades for this stage of the year. Keep up the work and you'd get at least 80-90 points from each.

100+100+100+80+80+60 = 520 (capable of 560)

PictureFrame

Thanks higgz for the advice! Just wondering you do realise I am not taking my Leaving Cert. Until June 2012?.
Regarding the points, I really really want to do a B.A in Psychology, Sociology & Music in NUIM. This year the points were 485, i'm leaving room for an increase so i'm aiming for around 520.. With Maths and Irish the Max. I can get from them in 60 points, however if I achieved a B2 in Higher Economics (which i've heaard is quite achieveable) is worth 80 points. This could help if I messed up one of my papers slightly.

Regarding French, Our paper was taken completely from a Higher Level exam question. We were tested on 2 comprehensions, A Diary Entry, A General Written Question, an Aural and a Oral, I achieved the following scores.

Comprehensions-> 75/100
Diary Entry->80/100
Written Q -> 85/100
Oral-> 85/100
Aural-> 46/100

If I had done better in my aural, I would have gotten an A2. So I would be looking for a B1 in this!

Have you any other tips for me

higgz

oops sorry

PictureFrame

No worries!!

PictureFrame

& Does anyone else have any other tips on how to achieve a good grade in Economics?. Looking for a B2+..

Ricky92

Why economics??? Do agi science way easer!!!!

Gordon Gecko

Rapid revision + Exam Papers + Marking Schemes = A1

Seriously for most subjects a teacher isn't required if you can make enough use of the marking schemes and economics is no exception. Focus on the exam qs after each chapter and what's in the marking scheme and you won't go far wrong

PictureFrame

Gordon Gecko wrote: »

Rapid revision + Exam Papers + Marking Schemes = A1

Seriously for most subjects a teacher isn't required if you can make enough use of the marking schemes and economics is no exception. Focus on the exam qs after each chapter and what's in the marking scheme and you won't go far wrong

Thanks Gordon Gecko! I think I am gonna focus on the Macro section first, it looks much more appealing in my opinion!! Too many graphs in Micro at the start! :L

PictureFrame

Any other advice regarding choosing Macro or Micro and which one is easier and more likely to appear on the exam paper?

IveSeenFire

Definitely keep up to date with current affairs. Loads of economics is theory, but reading about in action can help explain loads of concepts. Other than that you sound fine. Send me a PM if your struggling or anything. Good luck
I'd also suggest beginning with macro if it means anything at this stage...

PictureFrame

Thanks!! Can I ask why would you start with Macro?

IveSeenFire

Well tbh they don't have to be dealt with completely separately. It'd be debatable whether one is easier. The basic micro is a good foundation i suppose but my teacher began macro and now moves back and forth so.. You said the graphs put you off but they're not really hard so I wouldn't let that influence your decision. Trying to give advice without making the decision for you, like don't just do it because I say so- it's my opinion. I read back the thread and there doesn't seem to be a sentiment either way. But to answer your question ehh macro is more interesting I think and I just found it to be more appealing. So hope that helped, maybe not haha but what I'm really trying to say is that I'm sure either way it won't have a bearing on how you do. The other economics class in my school have a different teacher and they've focused solely on micro since day one. So yeah good luck again

PictureFrame

Thanks so much!! Think i'm going to do the introduction chapter in Micro and then proceed to Macro.. More theory and definitions in macro which I like a lot and find easier to learn. is www.cso.ie the website to check for all the latest statistics regarding unemployment, imports, exports etc?.

IveSeenFire

Yeah the cso would be good. Use a couple of resources- newspaper, internet and stuff. Nothing strenuous but just a flick through each every couple of days and you'll do well.

PictureFrame

Thanks!! Is it hard to get a B2+ in Higher Economics?

AtomicMess

Our Economics teacher told us that Economics is the most easiest marked exam subject because they're trying to encourage more people to take the subject.
I get taught Economics once a week by a teacher in my school.
We started in January 2010 and we were at Banking in the May,
so its handy.
And good on you for thinking about these things now.

PictureFrame

Thanks so much! Wow I didn't know that but I suppose it makes sense as Economics is a huge topic in current Irish life..
I'm doing it myself but I have a 17 months so I have loads of time!

PictureFrame

Hey i'm back and just looking for one last piece of advice. I started Economics on Monday and have so far done chapter 1 & 2 (Introduction to Economics and Utility)
I have learnt the following
CHAPTER 1
1. What is Economics?
2. What is a social science
3. What is an Economics system
4. What is opprotunity cost
5. What is a free market/centrally planned/mixed Economic system

Chapter 2
1. What is utility/total utility/marginal utility
2. Marginal Utility formula
3. Underlying Consumer Behaviour Traits
4. Economic Goods
5. Law of Diminshing Marginal Utility
6. Law and Formula for Law of equi marginal returns (of consumer behaviour)
7. Assumptions underlying LDMU

Is that all that has to be covered from these two chapters or is there info missing?. I'm working solely from Rapid Revision Economics.. Thanks! Any help appreciated.

higgz

PictureFrame wrote: »

Hey i'm back and just looking for one last piece of advice. I started Economics on Monday and have so far done chapter 1 & 2 (Introduction to Economics and Utility)
I have learnt the following
CHAPTER 1
1. What is Economics?
2. What is a social science
3. What is an Economics system
4. What is opprotunity cost
5. What is a free market/centrally planned/mixed Economic system

Chapter 2
1. What is utility/total utility/marginal utility
2. Marginal Utility formula
3. Underlying Consumer Behaviour Traits
4. Economic Goods
5. Law of Diminshing Marginal Utility
6. Law and Formula for Law of equi marginal returns (of consumer behaviour)
7. Assumptions underlying LDMU

Is that all that has to be covered from these two chapters or is there info missing?. I'm working solely from Rapid Revision Economics.. Thanks! Any help appreciated.

That looks alright to me. Those chapters only ever come up as short questions and they're the basis for much terminology that comes up in later chapters. I say move on and come back to those chapters if you feel you've missed anything.

PictureFrame

Ok thanks! I'm thinking I might do Supply and Demand and maybe Elasticity this week. Or should I do Supply and Demand and a Macro chapter?

DaveMur1

PictureFrame wrote: »

Ok thanks! I'm thinking I might do Supply and Demand and maybe Elasticity this week. Or should I do Supply and Demand and a Macro chapter?

Supply & Demand comes up alot as a whole question & can be hard to get your head around as they're the first real group of diagrams to learn, might be best to just do supply & demand this week!

fifi17123

definatly not! im doing economics im in 6th year if you learn the micro economics really well and learn all the definations you'l pass, the macro is more or less about the current state of the nation and you have options of questions on the paper you have loads of time i took up music the start of 6th year and im finding it grand. start it now and if you're finding it hard work on it over summer and get a grinds teacher. you said you're doing business i don't do it but i heard a few parts over lap. ud have to go into a bit more detail than the revision books you could prob get a c or b with them its a good place to start though!

PictureFrame

DaveMur1 wrote: »

Supply & Demand comes up alot as a whole question & can be hard to get your head around as they're the first real group of diagrams to learn, might be best to just do supply & demand this week!

Thanks!. Yeah i've looked through the chapter in Rapid Revision and it doesn't actually look too challenging. I think I might do Supply and Demand and Population in the Macro Economics Section. I want to do some Macrro as I want to have an even balance in the division of the two sections. Population overlaps quite a lot with the Human elective in Geography so I don't think it will be too big of a push to get that done with Supply and Demand. So far it's going good though I have to say I like it!. I have 10% of the course done, I know it's only the easy chapters but I feel good to say i've done 10% of a Leaving Cert. Higher Level course in one week! Ha :P I'm a freak! Anyways any other tips and or advice?

NotYetKatie

Yes, Economics is perhaps the easiest subject I do, you can catch up in no time and easily get that B, if you put enough work in .