OCR ECONOMICS F581 + F582 REVISION NOTES (Download Below!)Watch
The Unit 1 notes are much shorter in length than the Unit 2 notes but that is mostly due to the fact the Unit 2 requires more explanation and also requires you to memorise a lot more. Additionally the Unit 2 notes do have some sections, such as the graph section, that you can skip if you feel confident enough about them already.
Hope you find the notes useful
Unit 1 Notes:
Unit 2 Notes:
NOTE - There is a section on the Marshall-Lerner condition that you do not need to learn, I only put it there if you think you are capable of learning it + There is a section on Quantitative Easing. It is technically not in the syllabus but it would be good to understand the basic idea of what QE is and how it works but you do not have to so feel free to skip both of those sections if you wish.
Because a lot of people seem to be downloading the notes but no one seems to be writing anything on this thread I am going to bump it just so that some more people can have a look at the notes if they want to. I will try not to make this a regular occurrence.
The bit on QE is not essential as well as the Marshall Lerner condition to get full marks on the paper. Reference to PEDx and PEDimports could be introduced (without reference to the ML condition) and QE should be introduced in the context of money supply. Great notes btw
I know, on the title's of both those sections I said that they were either beyond the syllabus or that you should at least understand it slightly (in the case of QE). I also said that just below the download links. Thank you though, glad you like the notes.
I understand, didn't mean to try to contradict. The point I am trying to make is that it is not expected for you to get full marks, I am sure people retaking would feel comfortable with those and can introduce them but that will not give you additional marks compare to other AS topics. The bit that indicates "in meetings exam boards are expected you to......." is a bit misleading. A few years ago there was an issue with a senior examiner giving "tips" on how to tackle exams and this was penalised. If the board requires you to know that it should be added (unlikely) on the specification otherwise you are giving an unfair advantage to those not attending those meetings. That's why in meetings recently there is a restriction from OCR and other boards in allowing them to run this seminars or a recorded is now added.
You've probably heard this before loads but read the full question and make sure you answer it. Every paragraph should link back to answering the question despite how trivial it may sound, the exception is for defining terms at the start of the question. For example if the question asks something along the lines of "Discuss to what extent indirect taxation is effective in correcting negative consumption externalities arising from market failure" make your point such as indirect taxation increases the cost of production which shifts supply to the left, leading to reduced supply which increases the price. This in turn reduces consumption and therefore reduces the negative consumption externalities and thus correcting them to some extent...
Some tips I would give aside from this is to separate your for points to your against points and also "It depends on..." is not a counter point and should be done at the end as analysis. This is my personal preference although you don't have to do this.
Finally, if the question refers to the extract that you are given and says to use it...USE IT. This is both easier and will actually get you the marks. p.s. I know how annoying it may be to turn all the way back to the extract but it's worth it. I wish they gave that separately but hey, what can you do?
Hope this helps, Mushto