1. Economic Environment of Business
Lecture Ten
Exam Advice and Tips

2. Exam Detals 2 hour exam (120 minutes) Answer any two from five
READ through and choose = 5 minutes
READ through at end =5 minutes
1 minute per mark!

3. Exam Paper 2010 QUESTION ONE Define. (20 marks) Discuss . (30 marks)
QUESTION TWO
Briefly outline reasons (10 marks)
Why have .....? Outline some of the problems they have encountered (30 marks)
QUESTION THREE
Identify the main .... Consider their relative merits (30 marks)
What do you understand by the ...? Identify the main policy instruments used by the UK government and comment on their effectiveness (20 marks)
 QUESTION FOUR
 Briefly outline (15 marks)
Discuss the (25 marks)
Explain why the (10 marks)
 QUESTION FIVE
 Explain what is meant by the (5 marks)
Explain (20 marks)
Why might a ...? (25 marks)

4. Example Define what is meant by an incorporated firm?
The key aspect of an incorporated firm is
that it enjoys a separate legal identity from
the owner. This is important as it allows for
limited liability for investors in the company, allows
for a firm to be taken over, and thus enables firms to
grow.
An example would be a PLC such as William Hill PLC,
or Segger GmbH.

5. Explain To obtain full marks you should:
Write a continuous essay containing:
An introduction stating how you will answer the question
A discussion of arguments for/against where appropriate
A conclusion summing up your main arguments

6. Example Explain the argument for convergence
with reference to regional problems?
Need to explain terminology and how you will answer the question
The main body will be split into two sections – convergence and divergence
Use diagrams if it helps you explain clearer. Say how likely convergence is.
Sum up the arguments in the conclusion

7. Discuss Spend one minute per mark
Your answer should again be in essay form
You should provide your terms of reference in your introduction
You should outline key arguments
You should provide a summary

8. Example Discuss the effect of development of
the internet on employment prospects.
First; you need to define terms and explain how you are going to
answer the question.
Second; your main body will need to include a clear outline of the type
of work that will be created by these developments and that which will
be lost. You need to discuss the role of the internet in spreading
information, and the effect that this has directly and indirectly. E.g. for
research and development etc. Mention of derived demand and the
effects that these developments create.
Finally; you need a summary of your findings.

9. Plan for Introduction Main Body Conclusions
How am I going to answer the question?
Main Body
What is the case for?
What is the case against?
Which is superior and why?
Conclusions
What were my main findings

10. What sort of topics can come up?
You need to answer 2/5 questions. You should therefore revise 3 or 4 blocks of topics in case you do not understand a particular question. The following list of topics shows groups of topics which can formulate a question:

11. Topics Possible revision strategy: Any four of six blocks
Mergers and Competition policy
Privatization and nationalisation
Regional and Urban issues
Sectors; deindustrialisation
Structures and Objectives; legal stuff and Owners and managers (SRM, etc.); small firms
Globalisation, GATT etc.; Multinationals
NB there is no guarantee that there will be a question from each block

12. Referred/ Deferred
It is usual to cover different topics in a resit paper. Advice will be given at the appropriate time.

13. Revision Do not spend too long in each session.
It is better to do little but often.
Plan your sessions and do not be distracted.
Try the ‘blank paper method’.
Finally, good luck with the exam.