AS Micro exam technique

1. AS Micro exam technique

2. Grade Boundaries • From last years exam;

5. 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.

6. 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.

8. 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’.

9. 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!

10. 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

11. 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.

12. 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.

15. 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?

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

17. 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.

18. Government intervention Type Examples Advantages Disadvantages