Edexcel AS Economics Units 1, 2 and 3 [Fri 8th June]

Agriculture would be unit 2, over issues like the Commonagricultural policy etc.

Reply 43

OP

liverpool

agriculture in unit 3 :O.... never seen a question there :s-smilie:

i hope for smth easy :P... i dont know what but just want smth easy to come up , for at least the 15 mark question

Sorry, I meant it last came up in 2003...

Ye Agriculture we can rely on.

What were the two topics that came up in January 07? Someone said Health Care did... what was the other one?

Reply 44

OP

neelo_123

Could anyone recommend an intensive way of revising for economics? i know most of the stuff, but due to other exams etc. havent had much time to focus on it at all. any help / suggestions / links would me much appreciated. Neel

Unit 1 is all about definitions and stating the obvious in the multiple choice, the data response isnt much different. - so do some past papers.

Unit 2 is all about 1 topic, External Costs / Benefits, Private Costs / Benefits...

Unit 3 is all about policies, B of P, AD / AS.

Just try to cram the knowledge into your head, then you can apply it onto the exam tomorrow.

Reply 45

neelo_123

Zinck

Unit 1 is all about definitions and stating the obvious in the multiple choice, the data response isnt much different. - so do some past papers.

Unit 2 is all about 1 topic, External Costs / Benefits, Private Costs / Benefits...

Unit 3 is all about policies, B of P, AD / AS.

Just try to cram the knowledge into your head, then you can apply it onto the exam tomorrow.

cheers, hopefully get a good 8-10 hours of revision before the exam tomorrow. so what are peoples final predicitons for all units 2 and 3?

Reply 46

OP

Unit 2:

Agriculture + .........?

Unit 3:

........... ? + ...........?

Reply 47

Vincente

What were the two questions in January for unit 3 anyway? I mean I can remember one being something to do with inflation, but don't know what was the other one. If I know I could predict tomorrows.

Reply 48

OK MAJOR HELP NEEDED HERE!!

UNIT 3 question - 15 marker -

evaluate the use of supply side policies in sustaining high levels of output in the economy..

i made it up, but im unsure of supply side policies - i.e. long run and short run effects, so if anyone can help in the form of a modelled question i'd appreciate it :biggrin:

Reply 49

liverpool

10

newlife

OK MAJOR HELP NEEDED HERE!!

UNIT 3 question - 15 marker -

evaluate the use of supply side policies in sustaining high levels of output in the economy..

i made it up, but im unsure of supply side policies - i.e. long run and short run effects, so if anyone can help in the form of a modelled question i'd appreciate it :biggrin:

anyone willing to have a pop at this?

i would kinda say 3 ss polcies. investment in human capital, privitsation and reform of benifit system.

short run it is uneffective as smth like make new school will take a long time. however in LR the LRAS should shift to the right as more productivity as so on. im kinda stuck on the rest:P... im sure someone will help :smile:

Reply 50

OP

Come on guys / girls - discuss more! :tongue:

Reply 51

neelo_123

Vincente

What were the two questions in January for unit 3 anyway? I mean I can remember one being something to do with inflation, but don't know what was the other one. If I know I could predict tomorrows.

ive tried finding out what was on the paper, but cant seem to find it anywhere! :-|

Reply 52

lamont100

Iv got this exam tomorrow, whats all this stuff about agriculture? We havent done anything on agriculture i dont think.

What kind of question could there be on it?

thanks

Reply 53

liverpool

10

lamont100

Iv got this exam tomorrow, whats all this stuff about agriculture? We havent done anything on agriculture i dont think.

What kind of question could there be on it?

thanks

CAP, buffer stock., market and gvt failure etc

im not doin it but i think these are some of the topics on agriculture

Reply 54

with regard to SS policies - short run is increases in AD, as G rises and this is a component... so shift of AD to the right causing cost push inflation...

in the long run, due to a healthier/more productive workforce, AS shifts right... but thats A) in the long run and B) SS policies arent too great because govt. spending comes at opportunity costs, and the time lag for kicking in is just far tooo long...

thats about as much as i can do...

Reply 55

oh and with the unit 2 - my advice wudnt be to predict, Edexcel dont have a trend, they're just very random... if agriculture comes up i wont like it... the articles with farmers are just SO BORING! CC and Min Wage articles are far more interestingg.. happy revision ppl :wink:

Reply 56

Vincente

ive tried finding out what was on the paper, but cant seem to find it anywhere! :-|

Do you reckon we can find it on exam report on edexcels website.

Reply 57

Sports Racer

Guys, I'll offer you some of what I know here. Most of this you'll already know.

I did Unit 1 in Jan and got a good A. The key is to have a systematic way of answering the questions. First, you must DEFINE any concepts which the question raises. If it's relating to the PPF, then it will almost certainly be asking you about opportunity cost. Then you must apply the concept to support your choice of letter. You should aim to finish the multi-choice before the halfway point.
The second part of the paper focuses four areas that you all know and love: knowledge, application, analysis and evaluation.
When you say '... because...' you're likely to be analysing.
Evaluation is required on questions that say 'assess, examine, to what extent, how significant' and of course 'evaluate'. To evaluate you need to look at the issue from a different angle and say what the likely implications would be if certain assumptions are dropped or what would happen in the short/long run. Prioritising factors is also a way of evaluating.
You will find that time pressure is a key factor! There will be no time to stop and ponder on issues. Points must be recalled and written down on to the page immediately!

Unit 2 and 3 (which I'm sitting tomorrow) are less straight forward as they do not have the multi-choice :frown:

Unit 2 will definitely feature externalities relating to health, education, roads and other similar scenarios. It is also likely to include government failure, monopolies and buffer stocks.

Unit 3 will include monetary + fiscal policy in there somewhere (probably the big 15 marker).

My biggest tip would probably be to know your definitions well as you can define concepts for marks on the 15 markers. Learn about effects of everything (eg inflation) on AD and AS.

Good luck tomorrow!!!

Reply 58