!! Economics 2016 ... predictions, guesses and discussion.

TooMuchWork

Post away

luftmensch

Either perfect competition or oligopoly, and either land or labour. Elasticity has to come up, as well as something about the Brexit and maybe the housing crisis.

If none of the above comes up, I'm screwed.

TooMuchWork

luftmensch wrote: »

Either perfect competition or oligopoly, and either land or labour. Elasticity has to come up, as well as something about the Brexit and maybe the housing crisis.

If none of the above comes up, I'm screwed.

You have the exact same things as myself!

TSMGUY

Hate Macro just because they mix the good bits with the absolute ****e like measuring national income (which is both boring and terribly explained)

If only 4 micros came up!

luftmensch

TSMGUY wrote: »

Hate Macro just because they mix the good bits with the absolute ****e like measuring national income (which is both boring and terribly explained)

If only 4 micros came up!

4 came up on my mock. Hopefully it will happen again.

Are you learning any stats or figures for macro?

TSMGUY

luftmensch wrote: »

4 came up on my mock. Hopefully it will happen again.

Are you learning any stats or figures for macro?

not yet, tend to panic the morning of the exam and cram a few before the exam lol. Not the best idea in the world. Any good links?

luftmensch

TSMGUY wrote: »

not yet, tend to panic the morning of the exam and cram a few before the exam lol. Not the best idea in the world. Any good links?

I don't, apart from the cso website that is.

TSMGUY

luftmensch wrote: »

I don't, apart from the cso website that is.

might do a thug life and just hope for micro ayyyy.

(I'll probably end up going over EVERYTHING. The macro is so unpredictable:mad:)

emersyn

I'm focusing on micro and giving international trade and LDCs a look-in as well, I'm predicting a long question with them

adam240610

Doing all micro regardless of what they are, then either national income, trade or banking for the macro.
Bad feeling only three micro will come up though

The mock papers were fantastic though so wouldn't mind a similar one to those, best result I got in the mocks by 6%

Take Your Pants Off

How does one answer the qs on intl trade where they ask on "'explain how both countries benefit from trade in the shown example" taken from 2008 qs 5.
The rapid revision does no justice itself in explaining this.
And the marking scheme is way worse, dont have a clue where they working out specialising figures from.
Is there any clear method to approach these type of qs. Of its too complicated, then will i be better of skipping it, since its only 8 marks, but i have a good feeling its coming up as 2012 was the last time they asked this. So could be easy 8 marks IF its not a bother to understand in short notice

emersyn

I'll PM you my notes

Donnielighto

Post the question there and I'll explain it

Johno2474

adam240610 wrote:

The mock papers were fantastic though so wouldn't mind a similar one to those, best result I got in the mocks by 6%

Just hoping the paper will be much nicer than last year!!!!

adam240610

Johno2474 wrote: »

Just hoping the paper will be much nicer than last year!!!!

Last years was lovely!
Hope they don't put three micro and five macro on this year though :x

TooMuchWork

Okay I have labour, perfect comp/oligopoly, elasticity and short Qs ready. Anybody want to suggest some chapters I can study today?

adam240610

TooMuchWork wrote: »

Okay I have labour, perfect comp/oligopoly, elasticity and short Qs ready. Anybody want to suggest some chapters I can study today?

Banking/trade/national income. You can pretty much downy question on macro from those three chapters due to repetition in the course

I'd do all market structures considering its the only thing on every single year

flame98

Going to have to say elasticity mixed with supply and demand, a mix of perfect competition and oligopoly, labour, international trade with a question on brexit and then something on the multiplier. Possibly a census question thrown in somewhere

adam240610

flame98 wrote: »

Going to have to say elasticity mixed with supply and demand, a mix of perfect competition and oligopoly, labour, international trade with a question on brexit and then something on the multiplier. Possibly a census question thrown in somewhere

Would be a lovely paper
Would say land or enterprise for question four as well, hopefully.

Soolander

anyone know the very important stats to know?

adam240610

Soolander wrote: »

anyone know the very important stats to know?

7.9 unemployment, 7.8% increase in GDP, stagnant inflation, gl

Corkalex

Last exam for me ugh can't wait to get this over and done with

Paul235

Corkalex wrote: »

Last exam for me ugh can't wait to get this over and done with

Hasn't the economics exam been on since 9:30 this morning?

luftmensch

Someone please tell me Q2 was oligopoly

David1997

luftmensch wrote: »

Someone please tell me Q2 was oligopoly

Yea it was

emersyn

luftmensch wrote: »

Someone please tell me Q2 was oligopoly

Yes, although with those questions you can generally also argue imperfect competition if you want to make it difficult for yourself

Definitely not the easiest paper but not too bad overall, I can't believe there was no international trade... I had to read over the paper three times to check I wasn't missing a page

David1997

emersyn wrote: »

Yes, although with those questions you can generally also argue imperfect competition if you want to make it difficult for yourself

Definitely not the easiest paper but not too bad overall, I can't believe there was no international trade... I had to read over the paper three times to check I wasn't missing a page

The predictions on here were almost spot on really. It's clear they wanted oligopoly, otherwise it's like any normal market.

Johno2474

Not a bad paper anyone know what full employment is didn't seem to know meaning of it? Or marginal revenue?

emersyn

David1997 wrote: »

The predictions on here were almost spot on really. It's clear they wanted oligopoly, otherwise it's like any normal market.

I know they wanted oligopoly. That's why I answered on oligopoly. All I'm saying is that in the past marking schemes they've also given the marks people who correctly argued that it fits imperfect competition.

Jack55

I thought it was a fair paper - although kicking myself for a really stupid mistake I made in calculating the multiplier. Instead of using MPS I used MPC, and got a multiplier of 1. I knew it made no sense, but it was almost as if the answer was so obvious I couldn't see it in time. Anyone think I'll get any marks for those last two parts? Doubting it to be honest but kind of hoping I won't lose like 20 marks for such a stupid mistake.

randomlad727

Did anybody do the costs question? I think I did it wrong. I got like a u shaped marginal cost curve

Johno2474

randomlad727 wrote:

Did anybody do the costs question? I think I did it wrong. I got like a u shaped marginal cost curve

Not the only one what did you sy on what factors influence competitiveness of a firm in Irish economy

TSMGUY

F***ing hell, what a handy paper! Thought I was gonna get a B3 max going in because I was burnt out but now I'd be surprised if I got below an A2. Think everything was correct except like an idiot I drew the monopoly curve instead of the oligopoly curve. I did the specs analysis properly but I forgot to put a kinked AR/Demand curve, which is odd cos' I effing mentioned Sweezy's model during my answer. If everything else was right will I still get some marks for the graph?

randomlad727

Johno2474 wrote: »

Not the only one what did you sy on what factors influence competitiveness of a firm in Irish economy

Cost of production- wage rates, transport costs, value of euro versus other currencies, and inflation rate. Crap was that supposed to be like competitiveness between Irish firms on the Irish market or could you talk about on the international market too?

Johno2474

randomlad727 wrote:

Cost of production- wage rates, transport costs, value of euro versus other currencies, and inflation rate. Crap was that supposed to be like competitiveness between Irish firms on the Irish market or could you talk about on the international market too?

You can say that aswell I think they just phrase the qs differently the same way as in mocks

randomlad727

TSMGUY wrote: »

F***ing hell, what a handy paper! Thought I was gonna get a B3 max going in because I was burnt out but now I'd be surprised if I got below an A2. Think everything was correct except like an idiot I drew the monopoly curve instead of the oligopoly curve. I did the specs analysis properly but I forgot to put a kinked AR/Demand curve, which is odd cos' I effing mentioned Sweezy's model during my answer. If everything else was right will I still get some marks for the graph?

I thought we were only supposed to draw the demand curve??

David1997

randomlad727 wrote: »

I thought we were only supposed to draw the demand curve??

Yeah it was just the kinked demand curve.

randomlad727

David1997 wrote: »

Yeah it was just the kinked demand curve.

Thank you! I was panicking there for a second

adam240610

Lovely paper, did Q 1-4 as always haha. Hopefully A1 n that

daveytheravey

Could have went a bit better IMO. I was spending to much time on random parts of my longs. They needed a lot of explanation, but sure thats life. The questions required more outside the box thinking and not necessarily from the books. Its the way most exams are going i think! Maybe for the better

Violin1997

I honestly don't know how it went for me. The short questions were alright but when it came to the long qs which have the parts in which you offer your own opinion, I completely blanked. I was ok with the theory parts of the questions especially q1+2 but I could only do some parts of a full question. I just could not think of anything. I'm scared that I messed up badly! I hope I'll be able to pass!

Just to note: I did q's 1,2,4 and 5