![]() ![]() It shows that you understand the concept, which is what your examiner is looking for. Sure, this exchange rate may not be the actual exchange rate, but it shows understanding of what an exchange rate is. ![]() An example would be that 1 US dollar is equal to 30 yen. Always include an example to back up your definition! Even if your definition is not totally correct but your example is good, you can still get full marks for your definition.įor example, an exchange rate is one currency expressed in terms of another currency. Plus you really should define them because you get marks for doing so So define any economic term you see in the question. You’ve prepared for this (or at least I hope you did), so don’t panic! Even if ideas don’t come to your head right away they will once you start writing! So take a deep breath before you start and relax your body.ĭEFINE any economic terms you see in the question! Show the examiners that you’re not confused by fancy-shmancy economics terms! Show them that you know what they are asking you. Right, remember to chill out before you start. OMG HELP ME I’M GONNA FAIL I’M BLANKING OUT!!!! ![]() It may ask something like “Explain different factors that cause a change in the nation’s exchange rate.” Part A of paper 1 always asks you to explain something. Now that we got the basic structure down, let’s move on to the different parts of the question. Which question do you think you would be able to best evaluate? Go for that question. Remember that part B is more important since it is worth more marks (15 for part B vs 10 for part A). In the case that you are stuck between two (or more) questions, then think about part B. (OK, a bit of an exaggeration, but you get what I mean, right? Think through the different things you could say, the diagrams you could draw, etc. Usually people will really like one question and instantly know that they found their soul mate question. Read all the questions and think about which question you want to do. So during your 5 minute reading time, this is what you should be doing. And you just have to choose ONE out of the four! So, it makes sense to pick the easiest question! Pick the question that you are most knowledgeable about and could write a lot about. For example, there could a question about price ceilings from microeconomics, a question about unemployment from macroeconomics, and so on. Each question usually relates to a specific section of the syllabus. Each question has 2 parts, part A and part B. Ready to own economics? Alright, here we go! We’ll tackle this paper part by part.įor paper 1, you will always have a choice of 4 questions. A lot of this stuff is still useful for the 2013 syllabus though NOTE: This thread was written based on the syllabus for exams in 2012. ![]()
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