AS Micro exam technique

Grade Boundaries From last years exam; A 57 B 51 C 45 D 39 E 34

Multiple Choice section TIMING!! The biggest mistake students have on this paper is spending too long on the multiple choice section. If you have already spent 25 minutes on it, move on, and go back later. Make sure that you do not leave any of the answers blank! This will be answered on a separate sheet – you will need a black ball point pen.

Key instruction words; Define, identify, compare, explain, evaluate Choosing which set of questions will be important Start a new paragraph every time a new argument or line of reasoning is introduced into the answer.

Definition question (5 marks) Keep it short – no more than 4/5 lines. Use an example to make sure you get some marks if you miss a key word. E.g. – for elasticity, you will not get 5 marks if you do not mention ‘proportionate’ or ‘percentage’.

Data question (8 marks) Start each point of comparison/identification with a separate paragraph. Always give the unit of measurement (every time you include data) Avoid simple ‘data trawling’ Take note of the word significant Look for trends, correlation, volatility, convergence. Always put data into both sections of you answer. Try to make at least one calculation. Do not try to explain why!

Explanation question (12 marks) Include a definition to begin with – easy marks The quality of the diagram matters (labelling, clarity, accuracy, size – at least a 1/3rd of a side of A4, using a ruler.) Draw prompts from the extracts – they often provide the starting points for your chains of reasoning. Remember to include two chains of reasoning. Remember the importance of elasticity of demand and supply in shaping the analysis

Evaluation question (25 marks) Max mark of 15/25 if there is no evaluation. However, don’t forget to analyse first. Examiners will reward awareness of recent/current events – use examples to show this. You must use the data and the extracts explicitly to get more than 21/25. – This also counts towards application marks.

What should I revise?? Be prepared with your definitions. The power of market forces – the role of signals and incentives in driving resource allocation. Elasticity of demand and supply and their consequences on prices. State provision versus the market Health care and merit goods Public good issues Benefits and costs of monopoly power/effect of competition Economic welfare and efficiency – externalities Government interventions and their impact Government failure – in the short and long run.

Evaluation Advantages and disadvantages Who is affected – how? What happens in the short/long term? Will/are the policies effective? Should there be any intervention?

Timing Develop an argument and evaluate per paragraph (25 mark Q) Use supporting examples Clear diagrams and handwriting Use more paper than less

Units 1 and 2 will be marked electronically Units 1 and 2 will be marked electronically. This means that answer booklets will be scanned and then emailed to various examiners. What this means is that the examiner who marks your question 01 will not necessarily be the same examiner who marks your question 02. Do not write “as I explained/showed in my earlier answer….” because the examiner will not have access to it. Leave plenty of space between your answers Examiners continually stress that clarity of hand-writing is extremely important. If in doubt, increase the size of your writing and space out the words. Diagrams should occupy around a third of a page.

Government intervention Type Examples Advantages Disadvantages http://www.bbc.co.uk/news/health-20929984