How to study Economics

Take Your Pants Off

Taking up economics this year, started studying all the short questions from 2014 upwards apart from the one or two they throw in the short questions, that are related to current affairs as they change every year. E.g.

''Ireland recently emerged from the EU/IMF/ECB ‘Troika Bailout Programme’.
(December 15th 2013)
Outline two possible economic implications for the Irish economy of having exited this programme. ''

My first question is regarding the short questions, do they have to include a heading or can I just answer them straight on:
''Outline two possible economic effects for the Irish Economy of the euro (€) appreciating invalue against the US dollar ($).'' (17 marks)

Import prices are cheaper
Price of imports from the US are likely to decrease. This results in a lower import bill for Irish producers /
increase in imports from the US.

Export Prices Dearer
Price of exports from Ireland to US are likely to increase and therefore become less competitive.
This may result in reduced exports to the US.

or can I leave out the bold stuff.

2nd question is how are you supposed to study the long questions, I researched this thoroughly last year, most people were saying to study Qs.1 and Q.2 from the exam papers as they always come up.
What other questions am I assure of that I can study from. Since I have to answer 4.

Thank you.

emersyn

I'm not 100% sure but I don't think you need to include the title in the short questions. From what I know they only use the state/explain system in the long questions.
There will always be at least 3 long questions on microeconomics which is: Demand, Supply, D/S Equilibrium, Elasticity, factors of production and market systems. Q1 is usually Demand/Supply/Elasticity, Q2 is usually factors of production and 3 is usually market systems. Question 4 used to always be microeconomics too, but in recent years they have stuck some macroeconomics into it to prevent people from only covering the micro part of the course.
Questions 5-8 are harder to predict but there are a few topics that come up very often and are worth focusing on, e.g. trade, inflation, the budget, history of economic thought etc.
The questions tend to be very repetitive because the course is so short, so once you finish a topic you should always go through the papers and practice questions paying close attention to the marking scheme - if you do this, they can do very little to catch you out on the day of the exam

Take Your Pants Off

emersyn wrote: »

I'm not 100% sure but I don't think you need to include the title in the short questions. From what I know they only use the state/explain system in the long questions.
There will always be at least 3 long questions on microeconomics which is: Demand, Supply, D/S Equilibrium, Elasticity, factors of production and market systems. Q1 is usually Demand/Supply/Elasticity, Q2 is usually factors of production and 3 is usually market systems. Question 4 used to always be microeconomics too, but in recent years they have stuck some macroeconomics into it to prevent people from only covering the micro part of the course.
Questions 5-8 are harder to predict but there are a few topics that come up very often and are worth focusing on, e.g. trade, inflation, the budget, history of economic thought etc.
The questions tend to be very repetitive because the course is so short, so once you finish a topic you should always go through the papers and practice questions paying close attention to the marking scheme - if you do this, they can do very little to catch you out on the day of the exam

thank you so much