5 Strong Tricks To Score In Economics A-Level Exams

Students must know that A Level Economics exams are a test of student’s skills to attempt the exam as well as his knowledge. This article contains tips which will benefit the students in exams according to economics tutor Mr. Koh.

Tip No 1:

Impact Of An Event

This is something which the students are asked to assess quite often. The required analysis is easy to understand through these questions.

Following is a list of events to have an impact and their analytical scope.

  1. Market             impacted by                quantity, price and revenue
  2. Consumer             impacted by                quality, variety and surplus
  3. Producer             impacted by                profits
  4. Society                         impacted by                equity and efficiency (dynamic, allocative, productive)
  5. National income impacted by                GDP elaborated with multiplier process
  6. Average resident impacted by                living standards (tangible and non-tangible)
  7. Economy impacted by                four objectives of macroeconomics
  8. Government impacted by                budget, macroeconomics, and microeconomic goals

Tip No 2:

Combining The Policies Together

Policy recommendations are to be discussed 3 times by students in jc economic syllabus.

  1. Macroeconomics
  2. Market failure
  3. Demand and supply

Students are required to maintain a flow while combining these policies. The following two ways can be taken.

  1. Reveal problems in the current policy in a way which points to need of complementary policies.
    • Using a subsidy should be preferred. If government funds are limited, price ceiling should be considered.
    • Tax approach should be used for internalizing the spillover cost in PED>1. Otherwise, substitute encouraging campaigns must be introduced.
    • Expansion of monetary and fiscal policies shall be adopted for talking However, if exports are higher for a country, a lower exchange rate can help better.
  2. Following tackling is needed in a market failure situation
  3. Targeted subsidies for tackling                  unemployment
  4. Education for tackling                  imperfect information
  5. Subsidies for tackling                  externality

Tip No 3:

Focused Economic Analysis

Time is of the essence in economic essay writing and at times to the point, statements are helpful. It is heavily accepted that numbers and figures carry more weight. This can be called content anchors.

Explanation with examples

No.1

Gain derivation from a trade, opportunity cost comparison ratios and assumption in economic analysis is very important in theory of CA.

No. 2

The following numerical data is of importance in material SOL

  • GDP in PPP terms
  • Income distribution
  • References to GDP vs. actual numbers

Tip No 4:

Sanity Check

Keep the essay to the point and adding too much background weakens the topic. Around 30{05da6e4b8ba1fcaa3e2656106b8c270c358b190b9e0d62759ddf2af6701928df} body can be background related and the rest should be clear on the sanity test. Sanity check means that the data is directly related and not much in the background.

For example:

Explain reasons for higher volatility of fuel prices compared to other products.

Topic sentence

1st version (incorrect)

Fuel supply gets affected by multiple factors and its importance in the international market also plays a vital role in the crests and troughs.

2nd version (correct)

Fuel is constantly needed and its supply can vary due to the Gulf countries different conditions. The unstable supply and stable demand make the price chart open to many ups and downs.

Tip No. 5:

Memorizing Content

In order to get a completion in their papers, students must be aware of the DDEE formula. It is very helpful in understanding concepts which have a multitude of data streams.

DDEE stands for Definitions, Diagrams, Explanation, and Examples.

This division makes the student’s study easier and more focused.

Example for explanation

A student who normally memorizes the data and attempts the paper will have difficulty in attempting the following question. “Differentiate between the internal and external economies of scale.”

But another student will answer it properly by applying the DDEE formula on his answer.

Definition:

External EOS does not depend on the firm size and is related to industry’s growth whereas internal EOS increases with firm size.

Diagram:

External EOS shows a fall of the complete long-run average cost LRAC curve whereas internal EOS shows the LRAC falling gradually

Example with an explanation:

Economies of disintegration, concentration, and information are formed by external EOS whereas managerial, financial, marketing or technical economies are formed by internal EOS.

Economics tuition classes by Mr. Koh aim to help students with precise and precious tips. However, if students want to contact him, he can be reached at 907906248 or through email at thateconstutor@gmail.com.

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