Thursday 11 June 2009

exam advice

unit 5 and 6 has the same structure and require the same skills and approach:

the compulsory data response 50 marks 45 minutes:

4 sections:

a) data reference 4 marks - two points with two supporting data. in two clear paragraphs of two sentences.

b) explanation 6 marks - raise require number of points use extract to identify relevant points - be brief!

c) analysis 10 marks - brief cause and effect,possibly with diagram support - again use extract to guide you

d) discussion and evaluation 30 marks - think clear structure and paragraphing


  • definitions are your door in then establish theory
  • two issues identified and discussed-possibly advantages and disadvantages
  • data reference -dont forget to you the evidence in front of you to support or criticise your arguement
  • final paragraph evaluation decision on what basis and with what reservations?

essay 1 from 3

a) 20 marks b) 30 marks 45 minutes

essay approach is very much the sameonsection section the only real advice is do not spend too much time on the first section- explain two clear points and get out of there!

diagrams are a great support device- clear labelled and integrated into the discussion- use them!!

all the best

last minute lessons

students like paj holden on youtube:

http://www.youtube.com/user/pajholden

all videos@:

http://www.youtube.com/profile?user=pajholden&view=videos

particularly relevant:

goals of macroeconomic policy

cpi + rpi

phillips curve

absolute and comparative advantage

free trade and protectionism

and his blog:

http://pajholden4u.blogspot.com/

Wednesday 10 June 2009

schools of economic thought

a possible avenue of evaluation ; the FT has featured a couple of articles in recent days:

History Lessons for Economists (29 may 2009)

Economists Clash of Shifting Sands (9 June 2009)

Monday 8 June 2009

anatomy of a recession

Overview of the UK Recession (published in November 2008)

paul krugman @ lse

over the next 3 evenings at 6.30 Paul Krugman will be discussing "The Return of Dperession Economics" watch live or later at the following link:

http://www.lse.ac.uk/collections/LSEPublicLecturesAndEvents/live/LSELive.htm#Forthcoming_live_webcasts

exchange rates: sterling euro

read over these entries on the Pound Euro exchange rate.

martin wolf financial times

tutor2u blog - economic benefits of a slide in sterling

the euro revision note

european union revision presentation (pdf)

Friday 5 June 2009

development economics

Rapid Revision Blog has an entry on key issues to do with development. It may be worth your while to look over it. Trade and macro stability are seen as pre-requisites to sustainable growth thus there is scope to included the discussion in a unit 6 answer:

development economics issues

Monday 1 June 2009

uk economy latest overview

presentation uk economy may 2009

revision focus entries - tutor2u

Unit 5
Business economics
Revision: Short run production and costs
Revision: The Shut Down Point
Revision: Moving away from profit maximisation
Revision: Growth of Businesses
Revision: Economies of Scale and Scope
Revision: Natural Monopolies

Revision: Ownership and Control
Revision: Stakeholders

Revision: Business Pricing Strategies
Revision: Console wars
Revision: OPEC

Labour Markets and Inequality:
Revision: Labour Market Failure
Revision: Trade Unions

Revision: Income Inequality
Revision: The Tax Burden
Revision: Progressive and regressive taxes

Unit 6
macro basics;
Revision: Revising AS Macro for 2008

Revision: Inflation Targets and Measurement
Revision: Cost push & demand pull inflation
Revision Mind Map: Monetary Policy
Revision: The Economics of Interest Rates

Revision: Supply-side of the UK Economy
Revision: Expectations in Economics
Revision: Household Saving

Revision: Recessions
Revision Mind Map: External Economic Shocks

International issues:
Revision Focus: Export Performance
Revision: Capital investment in the UK
Revision: Bonds


Revision: China and the UK Economy
Revision: Climate Change Policies
Revision: Commodity Prices and Economic Effects
Revision: Innovation

Revision: Stocks and Prices


Revision: Improving Evaluation Skills

revision tip 3

tutor2u revision notes:

A new revision presentation on price discrimination http://www.tutor2u.net/blog/index.php/economics/comments/revision-price-discrimination-presentation/

Stagflation
http://www.tutor2u.net/blog/index.php/economics/comments/revision-stagflation/

A look at the latest data on the output gap:
http://www.tutor2u.net/blog/index.php/economics/comments/revision-linking-output-gap-to-other-macro-issues/

Monopsony Power in Markets
http://www.tutor2u.net/blog/index.php/economics/comments/revision-monopsony-power-in-markets/

Some new data on UK income distribution
http://www.tutor2u.net/blog/index.php/economics/comments/life-in-the-middle-income-distribution-in-the-uk/

Monopolistic Competition
http://www.tutor2u.net/blog/index.php/economics/comments/revision-monopolistic-competition/

Labour market failure
http://www.tutor2u.net/blog/index.php/economics/comments/revision-labour-market-failure-presentation/

Automatic stabilisers
http://www.tutor2u.net/blog/index.php/economics/comments/revision-automatic-stabilisers/

Spare capacity in manufacturing
http://www.tutor2u.net/blog/index.php/economics/comments/spare-capacity-in-manufacturing/

World news: Globalisation | guardian.co.uk

FT.com - World Economy 2012

BBC News - Eurozone crisis

Business: Eurozone crisis | guardian.co.uk

Euro in crisis -Financial Times

Currency Wars

UK Budget 2013: In depth news, commentary and analysis from the Financial Times

BBC News | Business | UK Edition

BBC News - UK economy

Business: Economics | guardian.co.uk

FT.com - UK Economy news

Latest financial, market & economic news and analysis | guardian.co.uk

FT.com - International economy

IMF Survey Magazine

IMF Survey Podcasts

Wash Post U.S. Economy