Results are out! Find what you need...fast. Get quick advice or join the chat
Hey! Sign in to get help with your study questionsNew here? Join for free to post

Pretty sure i just failed my economics EC1

Announcements Posted on
Applying to Uni? Let Universities come to you. Click here to get your perfect place 20-10-2014
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    ..and surely feel like dying in a hole. What i don't understand is how people manage to do so well.. Basically, there's such a wide range of topics to cover that i spent 3 months trying to remember and learn them all, which to me, only seems logical; acknowledging the fact that anything could come up in the test. However, i found myself having to revise the same thing over again; it was kind of like how when you try to carry a lot of things; you drop one thing, pick it up, something else falls, you pick it up etc. I really just want to know how to manage subjects like economics more efficiently where there's a wide specification, but only a few questions out of the specification comes up.. I really thought i would nail this.. I know i haven't though.. :[ I have my EC2 in a few days, maybe i could pull my grades up with that..

    Edit: I'm talking about WJEC.. just to be clear.
    • 6 followers
    Offline

    ReputationRep:
    Make a list of the major topics.
    Summarise them.
    Define important terms.
    Write advantages and disadvantages of each policy.

    Learn the exam technique.
    • 11 followers
    Offline

    ReputationRep:
    Back when I did Economics in my IGCSEs, I realised that simply memorising topics or trying rote learning would lead me to failure.

    You have to realise that Economics is centred around certain key concepts. For example, if you increase interest rates.... Entrepreneurs are less likely to setup businesses as they can't get cheap financing. People may be tempted to deposit cash in banks to reap high returns.

    Decreased spending will decrease demand. Lower demand will mean a decrease in prices.

    You could go on to debate aggregate demand, the effect on demand pull inflation, unemployment, the social effects of unemployment, aggregate demand and so on and so forth.

    In conclusion, understand the fundamental inner workings of the economic machine and apply it to the necessary questions.

    I hope I've helped.
    • 6 followers
    Offline

    ReputationRep:
    (Original post by jade456)
    ..and surely feel like dying in a hole. What i don't understand is how people manage to do so well.. Basically, there's such a wide range of topics to cover that i spent 3 months trying to remember and learn them all, which to me, only seems logical; acknowledging the fact that anything could come up in the test. However, i found myself having to revise the same thing over again; it was kind of like how when you try to carry a lot of things; you drop one thing, pick it up, something else falls, you pick it up etc. I really just want to know how to manage subjects like economics more efficiently where there's a wide specification, but only a few questions out of the specification comes up.. I really thought i would nail this.. I know i haven't though.. :[ I have my EC2 in a few days, maybe i could pull my grades up with that..
    are you talking about AQA econ1? mate...the whole syllabus = basic demand and supply, elasticity, basic market failure and government intervention. I just did that exam, it was a piece of piss. Instead of worrying about how much there is to learn try to consolidate the knowledge and take it for what it is, which is pretty simple stuff.

    EDIT: the comment above this one is a great piece of advice, memorisation won't work in this subject. It's important to keep in mind the fundamental economic proble, and that economics is the study of economising, literally. We want to determine the best course of action which makes best use of our scarce resources.
    • 3 followers
    Offline

    ReputationRep:
    economics isn't about memorising. it's about understanding key economic models and the roles variables play in changing these models. once you understand them, you can show anything with them.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by hockeyjoe)
    are you talking about AQA econ1? mate...the whole syllabus = basic demand and supply, elasticity, basic market failure and government intervention. I just did that exam, it was a piece of piss. Instead of worrying about how much there is to learn try to consolidate the knowledge and take it for what it is, which is pretty simple stuff.

    EDIT: the comment above this one is a great piece of advice, memorisation won't work in this subject. It's important to keep in mind the fundamental economic proble, and that economics is the study of economising, literally. We want to determine the best course of action which makes best use of our scarce resources.
    mate.... i did a different exam. It was WJEC EC1... there was one 2mark question on elasticity and a 2 mark question on d/s... it really wasn't simple.. Even though I'm aware this isn't a subject you can merely memorise, i do actually understand it when it's all in front of me, yet once i'm sat in an exam i believe there are slot of things you have to remember and understand. Trust me if this was a test on understanding, i'm pretty sure i wouldn't be in this position right now.. I'm glad your exam went well. Thanks for your reply.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by Ari Ben Canaan)
    Back when I did Economics in my IGCSEs, I realised that simply memorising topics or trying rote learning would lead me to failure.

    You have to realise that Economics is centred around certain key concepts. For example, if you increase interest rates.... Entrepreneurs are less likely to setup businesses as they can't get cheap financing. People may be tempted to deposit cash in banks to reap high returns.

    Decreased spending will decrease demand. Lower demand will mean a decrease in prices.

    You could go on to debate aggregate demand, the effect on demand pull inflation, unemployment, the social effects of unemployment, aggregate demand and so on and so forth.

    In conclusion, understand the fundamental inner workings of the economic machine and apply it to the necessary questions.

    I hope I've helped.
    Thank you, but i do understand all of this. It's just that with economics, there's always something creeping up that you've never seen/ heard of despite attempting to learn an entire student booklet. :[
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by . . .)
    Make a list of the major topics.
    Summarise them.
    Define important terms.
    Write advantages and disadvantages of each policy.

    Learn the exam technique.
    Thankyou, I'll give it a go..
    • 11 followers
    Offline

    ReputationRep:
    (Original post by jade456)
    Thank you, but i do understand all of this. It's just that with economics, there's always something creeping up that you've never seen/ heard of despite attempting to learn an entire student booklet. :[
    If you find you're lacking in terms of past paper practice.... Take a look at this exam board's papers :

    Click Here

    Plenty of papers with all the mark schemes. Also, files with the extension _er are examiner reports.

    Take a look at them. Read the mark scheme. Talk to yourself aloud. Get in the mood of drawing on information from in from all over the syllabus.

    Good luck
    • 6 followers
    Offline

    ReputationRep:
    (Original post by jade456)
    mate.... i did a different exam. It was WJEC EC1... there was one 2mark question on elasticity and a 2 mark question on d/s... it really wasn't simple.. Even though I'm aware this isn't a subject you can merely memorise, i do actually understand it when it's all in front of me, yet once i'm sat in an exam i believe there are slot of things you have to remember and understand. Trust me if this was a test on understanding, i'm pretty sure i wouldn't be in this position right now.. I'm glad your exam went well. Thanks for your reply.
    My bad, OCR and WJEC must have been on at the same time. Sorry if the reply seemed insensitive.
    • 8 followers
    Offline

    ReputationRep:
    I pretty much feel like dying in a hole after each of my exams this year. I don't know this year isn't good, or my new schools exam hall is pure bad luck but each of my exams has gone terrible
    • 0 followers
    Offline

    ReputationRep:
    (Original post by jade456)
    mate.... i did a different exam. It was WJEC EC1... there was one 2mark question on elasticity and a 2 mark question on d/s... it really wasn't simple.. Even though I'm aware this isn't a subject you can merely memorise, i do actually understand it when it's all in front of me, yet once i'm sat in an exam i believe there are slot of things you have to remember and understand. Trust me if this was a test on understanding, i'm pretty sure i wouldn't be in this position right now.. I'm glad your exam went well. Thanks for your reply.
    I can tell you that ped was 0.4 and that question for bricklayers .... supply increased and demand decreased.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by Ari Ben Canaan)
    If you find you're lacking in terms of past paper practice.... Take a look at this exam board's papers :

    Click Here

    Plenty of papers with all the mark schemes. Also, files with the extension _er are examiner reports.

    Take a look at them. Read the mark scheme. Talk to yourself aloud. Get in the mood of drawing on information from in from all over the syllabus.

    Good luck
    I did all 5 past papers and looked at all of the mark schemes... but thank you.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by Tanomc)
    I can tell you that ped was 0.4 and that question for bricklayers .... supply increased and demand decreased.
    Well at least i had the ped one right... I shifted demand right last minute for the house mortgage one.. I've no idea why, i panicked then just did it within the last minute of exam.. stupid me. I'm destined for failure.. I left supply as it was though.. maybe they'll give me a mark out of pity...
    • 23 followers
    Online

    ReputationRep:
    (Original post by jade456)
    ..and surely feel like dying in a hole. What i don't understand is how people manage to do so well.. Basically, there's such a wide range of topics to cover that i spent 3 months trying to remember and learn them all, which to me, only seems logical; acknowledging the fact that anything could come up in the test. However, i found myself having to revise the same thing over again; it was kind of like how when you try to carry a lot of things; you drop one thing, pick it up, something else falls, you pick it up etc. I really just want to know how to manage subjects like economics more efficiently where there's a wide specification, but only a few questions out of the specification comes up.. I really thought i would nail this.. I know i haven't though.. :[ I have my EC2 in a few days, maybe i could pull my grades up with that..
    why do we tie so much importance to exams, that we feel terrible when we don't achieve as high as we wanted? I mean, they're just exams at the end of the day, you need to pick yourself up, move on, ready for the next one.

    And OP, they really aren't impossible. When you get the hang of economics exams, they become easy (well maybe not easy). Get your teachers to help you. You'll find that it's not just about remembering everything, it's not a science exam. But it's about being able to discuss, being able to understand the complicated concepts. Being able to use the economics terms confidently. And these are all learnable skills.

    I'm assuming you're doing OCR's economics.

    When you're revising for unit 2, think about the effectiveness of policies rather than just all the factors of aggregate demand for example. I mean, when will you get into the test and have to recite all of those? - be able to expand on a handful of them. Think about the last question. It's always going to be about a particular policy, or about a particular objective or problem that the government want to rectify. Then think about what you might say to counter the argument. If you don't evaluate, you're stuck at 12 out of 18. One evaluative point, you're at 14 out of 18 almost without a doubt.
    And use the economics terms, say inflation, balance of payments. But also say things like sticky downwards, productive potential, government information failure, the multiplier effect, marginal propensity to invest invest.

    It is doable.

    edit: oh Wjec, oh well the same thing applies.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by Roshniroxy)
    I pretty much feel like dying in a hole after each of my exams this year. I don't know this year isn't good, or my new schools exam hall is pure bad luck but each of my exams has gone terrible
    Oh no I think today i was destined for failure, couldn't find my watch, spilt over a glass of water; whilst waiting outside the exam room, a kid got beat up by the vending machines which slightly uneased my 'calm pre-exam attitude', sigh...
    • 0 followers
    Offline

    ReputationRep:
    It was harder then previous years. I found the last one hard, my teacher said it as supposed to be an A2 question. I think overall for an A you will need 32/50. Just my guess.
    • 1 follower
    Offline

    ReputationRep:
    How did everyone find this exam? Would you say it was easy or hard compared to the January 2012 exam?
    I definitely failed that 25 mark question
    Oh and also what did anyone get for the MC question on price elasticity of demand i think, sorryy i cant remember the question properly but the options were something like 1.33, 2.00 , 2.33 ,3.33 what did people put down as the answer? (This is for AQA exam btw)
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Pride)
    why do we tie so much importance to exams, that we feel terrible when we don't achieve as high as we wanted? I mean, they're just exams at the end of the day, you need to pick yourself up, move on, ready for the next one.
    At A-level , your future depends on exams. If you resit... cant get into any good universities, cant 'get anywhere in life'. Same goes with failing the exams.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by Pride)
    why do we tie so much importance to exams, that we feel terrible when we don't achieve as high as we wanted? I mean, they're just exams at the end of the day, you need to pick yourself up, move on, ready for the next one.

    And OP, they really aren't impossible. When you get the hang of economics exams, they become easy (well maybe not easy). Get your teachers to help you. You'll find that it's not just about remembering everything, it's not a science exam. But it's about being able to discuss, being able to understand the complicated concepts. Being able to use the economics terms confidently. And these are all learnable skills.

    I'm assuming you're doing OCR's economics.

    When you're revising for unit 2, think about the effectiveness of policies rather than just all the factors of aggregate demand for example. I mean, when will you get into the test and have to recite all of those? - be able to expand on a handful of them. Think about the last question. It's always going to be about a particular policy, or about a particular objective or problem that the government want to rectify. Then think about what you might say to counter the argument. If you don't evaluate, you're stuck at 12 out of 18. One evaluative point, you're at 14 out of 18 almost without a doubt.
    And use the economics terms, say inflation, balance of payments. But also say things like sticky downwards, productive potential, government information failure, the multiplier effect, marginal propensity to invest invest.

    It is doable.

    edit: oh Wjec, oh well the same thing applies.
    Haha yeah, i was just about to say; it's WJEC. But thankyou, this is all still very encouraging; i think my problem is the terms. I misunderstood the term 'trade defecit' and spoke about a budget defecit all the way through an 8 mark question, which is ridiculously stupid. I also couldn't decide whether an interest rate increase on a mortgage was a good or bath thing, which again.. pretty dull. And in regards to the importance of exams; to me they are more than just exams, I've been in college now for almost 3 years, I'll be turning 19 and in classes full of 16 year old (which isn't bad) but i could be in uni actually progressing with my life rather than being stuck in a time-bubble of failure and futile attempts at academia.. wow sorry.. slight breakdown. But thanks for your reply..

Reply

Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. By joining you agree to our Ts and Cs, privacy policy and site rules

  2. Slide to join now Processing…

Updated: May 26, 2012
New on TSR

Personal statement help

Use our clever tool to create a PS you're proud of.

Article updates
Reputation gems:
You get these gems as you gain rep from other members for making good contributions and giving helpful advice.