UNIT 1: REVISION MATERIALS
Latest Exam Paper
Click here to access the latest papers for Unit 1, including questions, answers and what the Chief Examiner had to say about student responses.(remember to click on Unit 1 within each series of exams).
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General Exam Tips
- Use the Case Study. There are huge clues in it which the examiner expects you to use. The fact is the examiner wants you to apply economic theory to the case study in order to answer the question. Remember the case study is your best friend in the exam.
- Take time to choose the best essay and case study. Base your decision on the 25 marker. You do not want to start one question and then realise that you cannot answer it and have to start again.
- In the 25 mark questions, make sure you evaluate in every paragraph. Remember two well developed paragraphs are far better than five brief and undeveloped paragraphs.
- A final judgement is essential in the 25 mark questions. This should readdress the question. For example it could focus on the most important point to consider and why.
- In an exam situation it is easy to get carried away and find you are not really answering the question, so keep looking back at the question as you write. There is no point writing anything that is not answering the question. A good way to keep focus is to refer to the question. For example " another disadvantage of monopoly to consumers is...." if the question is about problems of monopoly.
- Use real life examples in your answers as examiners like this. For example if talking about tacit collusion you could refer to the energy companies. Lots of examples can be found here.
- When you make a evaluation point make sure you justify it.
- In every piece of analysis you write ensure there is a full chain of reasoning. So uses words and phrases like therefore, as a result and because. As I sometimes say to my students " assume the examiner is stupid".