AQA AS economics 25 marker Micro

For the microeconomics essay how should I structure my introduction. Of course I'll start with definitions but I often am unsure what to write next.

Also, for the bulk of my essay, how should I divide it up? One side of the argument first and then the other? Or perhaps one form of intervention and then the other?

Any advice regarding the microeconomics essay would be greatly appreciated

Reply 1

smooo

take a read at both of these may help out a little.
http://www.timwoods.org/2012/12/18/how-to-structure-your-economics-essay/
http://www.thestudentroom.co.uk/showthread.php?t=2174731

I'm not entirely sure about the introduction, but I'd say to keep it brief and do not drag it on for too long. Explain what the question is asking followed by any relevant definitions, You can include a diagram in the introduction but you don't need to show a whole lot, just a brief overview of the situation, however you might not always need to do this.

Personally, for large questions like this I tend to use PEEEL, I'm not sure if the way the marks are awarded differ to hugely between AQA and OCR so this should ideally also work.
The structure for each paragraph should be as follows:
Point- be precise and to the point
Explanation- develop your point
Evidence- provide examples and definitely use diagrams, diagrams without an explanation are pointless you need to explain your diagram.
Evaluate- this is your AO4 mark - "it depends on" and "why it depends on" to make a justified judgement on it e.g. depends on the elasticity of x ect. Here you can also comment on any counterarguments to your point,
Link it back to the original question and explain its relevance.

Rinse and repeat for the rest of the main body

Remember to label your diagram, and if you add any numbers you can use calculations for the evidence section.

To conclude just make a brief summary of your points, for or against and one other reason why you chose to go with that, and remember link it back to the question.

For OCR some of the diagrams of micro you need to know are listed below, I don't know for aqa but some of these should be relevant:

· PPF(straight-line or concave) showing opportunity cost and the effects ofspecialisation
· Demandand supply curves: price changes (extension/contraction)
· Shifts(increase/decrease) in both demand and supply curves and the changes inequilibrium price and quantity in moving from an initial equilibrium to a newequilibrium
· Pricemechanism: excess demand and excess supply
· Priceand output in volatile markets
· Supplycurve and indirect tax on producers
· Supplycurve and government subsidy
· Demandcurves with different price elasticities of demand e.g. perfectly elastic,unitary and so on
· Priceelasticity of demand along a straight line demand curve
· Priceelasticity of demand and a firm’s total revenue
· Elasticityof demand and indirect taxes and the incidence (burden) of the tax
· Priceelasticity of supply: non-linear supply curve with different values of priceelasticities of supply
· Consumersurplus and Producer surplus
· Equilibriumwages in a labour market and shifts (increase/decrease) in both demand andsupply curves of labour
· Deadweightwelfare loss (loss of economic welfare due to market failure)
· Negativeexternalities (external costs) from production and why does it cause marketfailure
· Negativeexternalities (external costs) from consumption and why does it cause marketfailure
· Positiveexternalities (external benefits) from production and why does it cause marketfailure
· Positiveexternalities (external benefits) from consumption and why does it cause marketfailure
· Demeritgoods /imperfect information and why does it cause market failure
· Regulationand legislation e.g. welfare case for a complete ban (i.e. cigarette advertising)
· Pricecontrols such as maximum price (price ceiling) and minimum price (price floori.e. minimum wage)
· Bufferstock scheme

For diagrams this is helpful: http://www.slideshare.net/tutor2u/key-diagrams-and-glossary-for-unit-1-micro?utm_source=slideshow02&utm_medium=ssemail&utm_campaign=share_slideshow_loggedout

And in general you can find helpful videos here: http://www.tutor2u.net/economics/reference/results/eyJ0eXBlcyI6IjM0MzgiLCJsZXZlbHMiOiIyOTk5IiwiYm9hcmRzIjoiMjk5NSJ9

PM me if you have any other questions.

Reply 2

Azim101

Original post by joe4234

wait arent you supposed to put 1 def?

Reply 3

AindowJ

Hello,

Here's an outlined layout of how you should focus your essay. We were given it by our teacher, who just attended a conference regarding the new spec, so some of what is written is 'straight from the horses mouth' (he people who make the paper)

I hope it can be of some help:

Economics – Unit 1

1) Read and highlight the question -What is it asking? What is the type of market failure?

2) Read and underline all 3 extracts

3) Plan
-Select the 3-4 best policies (which will work best- with the least opportunity cost & trade off), or the reasons to intervene/not to intervene
-Which can you write the most about

4) 1 Paragraph per policy
-What’s the policy/reason, how does it work, why? Give a real-life example
-Draw a diagram= explain/reference
-Positives (effectiveness) and Limitations (drawbacks)= how serious are the impacts
-Compare the policy with your others(1-2 lines of writing)

5) Conclusion
-What is the best way and why? There should be a combination in place due to the complexity
-What are the potential trade-offs?Are they worse than the market failure itself?
-How likely is government failure because of it
-Will it really work? E.g. Sorting unequal dist. Of income and wealth can never ‘really’ be made fair
-Are such strategies ‘fair’?
-Is it alright for someone like David Cameron to implement a strategy? he hasn’t had to experience poverty before?
-Are there conflicting self-interests? E.g. the Wealthy making themselves richer (politicians)

AQA AS economics 25 marker Micro

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