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Learner Guide for Cambridge AS and A Level Economics Learner Information for Cambridge AS and A Level Economics How to use this guide The guidebook describes the biggest launch of the century about your Economics examination. It helps you to plan your modification programme and may explain what Cambridge Foreign Examinations is looking to get. The information contains the following sections: Section 1: How can you be analyzed? This section will provide you with information about the diverse examination documents you will take.

Section 2: Examination guidelines This section offers you advice to help you do as well as you can.

A few of the tips are general guidance and some depend on the common faults that scholars make in exams. Section 3: And what will be examined? This section identifies the five assessment targets in Economics Section 5: What you need to know This kind of shows the syllabus content so that you can examine: ¢ which usually topics you should know about ¢ details about each topic region in the syllabus ¢ just how much of the syllabus you have covered Section your five: Useful Websites Cambridge International Exams 2012 Novice Guide to get Cambridge AS and A Level Economics Section 1: How can you be tested?

The table below will give you information about the examination papers you will take. Newspaper Type Period Number of Inquiries Maximum Tag 1 Multiple Choice (Core) (a) Data Response (Core) (b) Organised Essay (Core) 1 hour 31 30 Pounds (% of total represents for syllabus) 40 45 minutes (recommended) one particular 20 35 45 minutes (recommended) 1 via a choice of several 20 40 2 2 Cambridge International Assessments 2012 Spanish student Guide for Cambridge AS and An amount Economics Section 2: Examination tips Standard Advice ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ It is very important that you just look very closely at the ‘command’ or ‘directive’ words used in a question.

These kinds of tell you whatever we are looking for. If a question requires you to ‘identify’, ‘state’ or ‘calculate’ some thing, you should not create a very long answer. If, nevertheless , the question demands you to ‘explain’ or ‘discuss’ something, this will likely require you to enter much more detail and your answer should be much longer. Very often, having a ‘discuss’ question, you will be anticipated to look at anything from two contrasting points of view after which come to a reasoned and well backed conclusion. Additionally it is important that you look closely in the number of represents that are honored for each part of a question.

This will likely give you assistance as to the length of time you should spend on each particular part. A few parts of something will only gain you two or perhaps four marks while other questions could have sections really worth eight and twelve markings. Remember to look very closely at the precise text of each part of a question. You have to make absolutely certain that your answer evidently relates to what is specifically required. For example , you might answer a question about inflation and publish all you find out about how it really is measured, but the actual question asked essential you to reveal the difference among two reasons behind inflation, cost-push and demand-pull.

Time administration is crucial. Don’t spend too much time on one query, or areas of one issue, and then leave yourself towards end with the examination with very little time for you to read through your answer and correct any errors and/or add anything that you really feel is lacking. W herever possible, use diagrams to assist your answers, but ensure that they are effectively and plainly drawn and correctly branded. You should also ensure that you refer to these people in your solution. You should also attempt to bring in appropriate and relevant examples, whenever we can, of current economic concerns and complications to support the points you are making.

Seem back with the question frequently, just to make certain you are responding to the question correctly and staying ‘on track’. You no longer need to write out your question, this is certainly a spend of your time. Make absolutely certain that you write down thier number of problem, and the sub-part, so that we realize which query you have clarified and there is simply no possibility of misunderstandings as to which usually question continues to be answered. Will not answer more questions you have to. Such as in Paper 2, you are required to answer issue 1 in Section A and then merely one of the three questions in Section M. Cambridge Foreign Examinations 2012 Learner Guidebook for Cambridge AS and A Level Economics An Example Daily news 2 Section A: Query 1 This can be a data response question which has to be responded. There are 20 marks readily available for this query. ¢ ¢ You need to spend some time carefully checking the information supplied in Section A. Inside the example over a data response was interested in the market intended for onions in Bangladesh. You have to be confident in what you have browse so that you are able to identify, interpret and shape aspects of the info, depending on the particular questions asked.

You need to look at the title of the watch case study, this might well offer you some hints as to what you’re going to be required to carry out in addressing the inquiries. Cambridge International Exams 2012 Spanish student Guide to get Cambridge AS and An amount Economics ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ You need to look at the data presented and appreciate its circumstance. In the example above, this was concerned with the costs of essential foodstuffs in Bangladesh and the implications with this for investors, consumers plus the government.

In the event the data is in the form of a table, a chart or possibly a diagram, search for the important features and see if you possibly could identify virtually any patterns, relationships or tendencies as some from the questions could be drawn from these.

You go through ‘Learner Guide for a Level Economics’ in category ‘Essay examples’ Try to find the economical theories or perhaps concepts around which the example has been crafted, think about where and how these hypotheses and principles are inlayed in the info as inquiries are likely to be drawn from these. In the example above, this was in relation to prices, require and supply and government involvement in markets). See if there exists a stated supply for the case study, since this may allow you to understand its context.

Find out if you can discover any restrictions of the data, for example , there could be other information that you just would have found useful, yet which has been disregarded. The instructions on the exam paper declares: “Brief answers only are required.  You have to be able to quotation selectively and answer concisely. You need to look closely by and follow the mark allocation in terms of the time to be taken to solution each element of a question. Inside the example above, all three parts of (a) were allocated two marks each, both parts of (b) were allocated several marks each, and portion (c) was allocated half a dozen marks.

Half of the time invested in the whole conventional paper, 1 hour 30 minutes, should be invested in answering Problem 1, we. e. 45 minutes. This means that among 13 and 14 minutes must be allocated to each of (a) and (c) and 18 minutes to (b). W here the ‘command’ or perhaps ‘directive’ phrase is determine, you do not need to visit into a immense amount of detail. Under consideration 1 (a) (i), inside the example over, you simply needed to calculate the approximate selling price per kilo of onions in Sept. 2010 2003. Watts here the ‘command’ or ‘directive’ phrase is determine, you again do not need to go to a great deal of fine detail.

In Question 1 (a) (ii), in the case above, you simply needed to identify two explanations why prices may normally be expected to rise ahead of the Holy Month of Ramadan, you were not required to explain, examine or go over these two reasons. A question is going to sometimes clearly require you to include a diagram. It was the case in (b) (i) and (ii), in the case in point above, the moment candidates were required to incorporate a demand and provide diagram. In the case of (i), it was to help explain how dealers may gain from reducing the provision of essential products.

When it comes to (ii), this is to help examine the effect out there for onions of the introduction of an effective maximum cost. Your blueprints would need to become neatly and accurately attracted and effectively labelled. You should also need to consider the blueprints in your answers, that is why this says ‘with the aid of a demand and supply diagram’ in the question. The maximum draw that could have been awarded in each of these sections, if simply no diagram have been included, was three from the available four. In some elements of questions, the ‘command’ or ‘directive’ phrase is clarify or evaluate.

In part (b), (i), inside the example previously mentioned, you had been required candidates to ‘explain how investors may gain from reducing the provision of essential foodstuffs’, when in (ii) candidates had been required to ‘analyse the effect out there for onions of the launch of an successful maximum price’. It is very important that you fully understand what is meant by simply these phrases. Explain means to make clear how or why, analyse means to examine in technical detail. In some elements of questions, the ‘command’ or ‘directive’ term used is usually discuss.

Showcased 1 (c), in the model above, problem required candidates to ‘discuss the Cambridge Foreign Examinations 2012 Learner Guideline for Cambridge AS and A Level Economics ¢ desirability of the Government’s intervention wanting to buy onions’. You should need to look at this from both equally points of look at, i. at the. firstly saying that it would be useful and then applying consider a number of the possible cons. You would then simply be expected to achieve a conclusion as to whether it will be particularly desirable for the government to intervene in such a industry.

The maximum draw for just one side with the argument was four, the utmost mark to get both points of view, nevertheless without a very clear conclusion, was five. It is best to try to leave time at the conclusion of giving an answer to the question to see through what you have crafted so that you can check and correct any mistakes through adding anything important that you have disregarded. Section W: Questions 2, 3 or 4 This can be the essay question and you have to reply to just one problem from this section. There are 20 marks available for this problem. ¢ ¢ Each problem will be consisting of two parts with eight marks intended for (a) and twelve marks for (b).

Part (a) will always need you to explain some thing. This means that you are required to give very clear reasons for something or to produce something obvious in terms of just how and/or why something is occurring. For example , showcased 2 (a) you had been required to make clear how creation possibility figure might be used in assessing a country’s economic performance. You will need to display knowledge of what is meant by a production possibility curve after which go on to explain both the stationary position of the curve and a motion of it.

Under consideration 3 (a) you were required to clarify the difference between absolute and comparative edge. You would ought to define both the terms and after that go on to clarify the terms and the presumptions which underpin the two concepts. In Question 5 (a) you were necessary to explain the between costpush and demand-pull inflation. You should need to illustrate knowledge of what is meant simply by inflation and then go on to clarify the two terms and, above all, the difference together. Cambridge International Exams 2012

Student Guide pertaining to Cambridge AS and A Level Economics ¢ ¢ ¢ ¢ Since has been stated, there are 8 marks readily available for part (a), 40% in the total intended for the question. You must, therefore , make an effort to spend about 40% of the time available for addressing this part of the question. Enough time allocated to answering this question is forty five minutes, so you need to aim to dedicate about forty percent of that period on portion (a), i actually. e. regarding 18 a few minutes. Part (b) will always need you to discuss anything. This means that you are required to give the crucial arguments, intended for and against, in relation to no matter what is being asked.

For example , under consideration 2 (b) you had been required to talk about whether a blended economy is the best way for a rustic to deal with the essential economic trouble. You would ought to demonstrate a comprehension of equally a combined economy plus the basic economical problem after which go on to discuss both the rewards and the drawbacks of a merged economy. In Question 3 (b) you were required to discuss whether the basic principle of relative advantage is a satisfactory description of the operate pattern of an economy which you will be familiar.

You will need to apply the theory of comparative advantage into a pattern of trade and discuss the constraints of relative advantage theory. You would after that need to go onto discuss various other explanations of trade. This is certainly a particularly interesting question mainly because instead of demanding you to discuss a particular control pattern between two financial systems, you are asked to discuss the operate pattern of an economy which you will be familiar, i actually. e. you are given picking out deciding which economy to write about. Involved 4 (b) you had been required to go over whether a country experiencing inflation will always have got a balance of payments trouble.

You would need to explain the web link between inflation and the equilibrium of payments and then embark on to discuss the conditions when pumpiing would be more likely to bring about an equilibrium of payments problem plus the conditions when ever inflation would not be likely to cause this sort of a problem. Since has been said, there are a dozen marks available for part (b), 60% with the total for the question. You should, therefore , try to spend regarding 60% of times available for answering this area of the question. The time allocated to answering this issue is 45 minutes, so you have to aim to dedicate about 60 per cent of that period on portion (b), we.. about 28 minutes. It is recommended to try to keep time towards the end of answering the question to read through what you have crafted so that you can verify and correct any kind of mistakes through adding anything important that you have disregarded. Cambridge International Exams 2012 Spanish student Guide intended for Cambridge BECAUSE and A Level Economics Section 3: And what will be tested? The syllabus sets out the five examination objectives in Economics. Quantity of Assessment Goal 1 Skill Demonstration of Skill Illustrate Knowledge and Understanding 2 Interpret 3 Explain and Analyse some Evaluate a few Organise, Present and Connect

You should be able to demonstrate know-how and comprehension of the specified articles. You should be able to interpret economical information provided in: ¢ verbal ¢ numerical or ¢ visual forms. You ought to be able to explain and review economic concerns and arguments, using relevant economic: ¢ concepts ¢ theories and ¢ information. You should be able to evaluate financial: ¢ details ¢ fights ¢ plans and ¢ policies. You should be able to take into account relevant details and theory. You should be in a position to distinguish details from: ¢ hypothetical transactions and ¢ value judgements.

You should be in a position to organise, present and talk economic suggestions and informed judgements within a: ¢ obvious ¢ logical and ¢ appropriate contact form. The Multiple Choice part (Paper 1) will keep pace with test especially Assessment Aims 1, a couple of and a few. The Data Response part of Conventional paper 2 can seek to test particularly Analysis Objectives two and several and, into a lesser degree, Assessment objectives 1, four and 5. The Structured Essay element of Paper two will strive to test specifically Assessment Objectives 1, three or more, 4 and 5 and, to a smaller extent, Analysis Objective installment payments on your Cambridge International Tests 2012

Student Guide to get Cambridge BECAUSE and A Level Economics Section 4: The biggest launch of the century A stand is offered below which in turn describes the topics that is tested in the examination paperwork. You can use the table through the course to check the issues you have protected. You can also utilize it as a revising aid. The column headed ‘comments’ can be utilised: ¢ to incorporate further information regarding the details of every bullet point, or to offer appropriate good examples ¢ to focus on areas of problems which you need to have to ask your teacher about. Cambridge International Examinations 2012 Student Guide for Cambridge WHILE and An amount Economics

Motif 1 Basic Economic Concepts Topic Shortage, choice and resource allowance Different allocative mechanisms Creation possibility competition The perimeter Positive and normative claims Ceteris paribus Factors of production Division of Labour Cash Cambridge International Assessments 2012 You ought to be able to: ¢ Define this is of shortage ¢ Explain the inevitability of choices at all amounts: o specific o company o authorities ¢ Define and describe the concept of chance cost ¢ Consider basic questions of: o what will be produced o how it will be made o pertaining to whom it will be produced Separate: market economies ¢ designed economies ¢ mixed economies ¢ and problems of transition Clarify: ¢ the shape of the production possibility competition ¢ shifts of the creation possibility shape Explain making decisions at the margin Distinguish between: ¢ positive and ¢ ordre statements Explain the meaning of ceteris paribus Define the four elements of production: ¢ Terrain ¢ Labour ¢ Capital ¢ Organization Explain this is of trademark labour Identify and clarify: ¢ the functions of money ¢ the functions of money Remarks Learner Guideline for Cambridge AS and A Level Economics Theme 2 The Price System

Topic Specific Demand figure You should be in a position to: Explain the development of specific demand figure Aggregation of individual demand curves to provide market demand Factors affecting demand Explain how specific demand curves are aggregated to give marketplace demand Motions along and shifts of the demand competition Price, salary and cross elasticities of demand Firms’ supply figure Factors affecting market supply Movements along and alterations of a supply curve Selling price elasticity of supply Cambridge Foreign Examinations 2012 Identify and explain the many factors that could influence marketplace demand

Clarify and separate: ¢ movements along a requirement curve ¢ shifts of the demand contour ¢ Clarify the meaning of ¢ Determine ¢ Examine the factors affecting ¢ Assess the significance for revenue and business decisions of o selling price elasticity of o require o income elasticity of o demand o get across elasticity of o require Explain how individual firms’ supply curves are aggregated to give industry supply Determine and clarify the various factors that can effect market supply, including: ¢ indirect income taxes and ¢ subsidies Explain and separate: ¢ moves along a supply shape ¢ adjustments of a supply curve

Explain: ¢ the determinants in the price suppleness of source ¢ the implications of price elasticity of source for speed/ease with which businesses react to changed market conditions Comments Novice Guide pertaining to Cambridge BECAUSE and A good Economics Motif Topic Interaction of demand and supply Balance price and quantity Buyer and developer surplus Rates as holding back on and allocative mechanisms several Government Involvement in the Selling price System Externalities Social costs and sociable benefits Decision-making using costbenefit analysis Private goods and public goods Merit merchandise and demerit goods

Authorities intervention Cambridge International Examinations 2012 You should be in a position to: Explain: ¢ the meaning of equilibrium and disequilibrium ¢ the effects of changes in supply and demand in equilibrium cost and variety ¢ the applications of demand and supply examination Explain this is of customer and manufacturer surplus Evaluate how rates can be used as: ¢ rationing and ¢ allocative components Explain and distinguish between: ¢ positive and ¢ bad externalities Explain social costs as the sum of: ¢ private costs and ¢ exterior costs Describe social rewards as the sum of: ¢ non-public benefits and external rewards Explain decision-making using cost-benefit analysis Describe and distinguish between: ¢ private goods and ¢ public goods Make clear and separate: ¢ value goods and ¢ demerit goods Make clear government intervention through: ¢ maximum price controls ¢ price stabilisation ¢ fees ¢ financial assistance ¢ direct provision of products and providers Comments Student Guide intended for Cambridge WHILE and A good Economics Idea 4 Worldwide Trade Matter Principles of absolute and comparative benefits Other details and determinants of transact flows Fights for free trade and purposes for safeguard

Types of protection and their effects Financial integration five Measurement in the Macroeconomy Conditions of Operate Balance of Payments Diverse forms of way of measuring in the macroeconomy General selling price level Price indices Cambridge International Examinations 2012 You should be able to: Explain the principles of: ¢ absolute advantage ¢ relative advantage and ¢ all their real-world limitations Explain the ability cost principle allied to trade Account for other answers and determinants of trade flows Make clear: ¢ arguments for free control and ¢ motives for protection Clarify: ¢ types of safeguard and ¢ their effects

Explain the characteristics of, plus the differences between, a: ¢ free control area ¢ customs union ¢ economical union ¢ monetary union Explain this is of the terms of transact Explain the components of the equilibrium of obligations Explain various kinds of measurement: ¢ Employment stats ¢ Size and components of labour force ¢ Time productivity ¢ Definition of joblessness ¢ Unemployment rate, patterns and trends in work and joblessness ¢ Issues involved in computing unemployment Explain: ¢ the typical price level ¢ cost indices, like the consumer price index and the retail value index money and true data Remarks Learner Information for Cambridge AS and A Level Economics Theme Subject Shape and determinants of AD so that as You should be in a position to: Interaction of AD and since: determination of level of end result, prices and employment 6th Macroeconomic Concerns Inflation Define inflation Clarify the: ¢ degrees of inflation ¢ types of pumpiing ¢ reasons behind inflation ¢ consequences of inflation Describe the: ¢ meaning of balance of payments balance and disequilibrium ¢ factors behind balance of payments disequilibrium ¢ effects of equilibrium of obligations disequilibrium on the domestic and external overall economy

Define exchange rates and explain: ¢ the measurement of exchange rates ” nominal, actual, tradeweighted exchange rates ¢ the perseverance of exchange rates ” fixed, flying, managed and ‘dirty’ drift ¢ the factors underlying fluctuations in exchange rates ¢ the effects of changing exchange prices on the economic system Analyse guidelines designed to: ¢ correct balance of payments disequilibrium or ¢ affect the exchange rate Comment on the likely conflicts among these three policy objectives Balance of Payments Concerns Fluctuations in Foreign Exchange Prices 7 Macroeconomic Policies

Macroeconomic policies Issues between plan objectives about inflation, stability of obligations exchange level Cambridge International Assessments 2012 Feedback Learner Guide for Cambridge AS and A Level Economics Section five: Useful Websites General Economics sites http://www. tutor2u. net This is probably among the best of the numerous internet sites that are currently available for young students of Economics. It provides a great deal of information on a variety of topics and one section that is especially useful can be described as range of revising notes about different areas of the syllabus.

In addition there are a number of composition plans on diverse topics and an active forum and tips section, and regular news updates. There are interactive quizzes and a VLE (virtual learning environment) site. You can also get PowerPoint demonstrations on various topics and a very useful Economics blog. http://brynsaseconomicsblog. blogspot. com This site is updated on a regular basis and shows the list of topics protected down the left hand side with the volume of entries for each and every topic in brackets. You will discover useful backlinks to a wide range of resources which include not only articles but likewise video clips. ttp: //www. bized. co. uk/ This is an especially useful internet site if you are looking to get up-to-date info about various firms, prepared by the companies themselves good results . learners at heart. It also incorporates a range of learning materials that will be useful across all areas in the syllabus. Excellent number of virtuelle wirklichkeit exercises inside the Virtual Planets section of the internet site, including Virtual Economy, Digital Factory and Virtual Growing Country. http://www. s-cool. company. uk This is certainly one of the better websites, providing a lot of useful information for Economics learners.

It addresses eighteen theme areas and each of these there is a checklist in the main concepts, a QuickLearn section that explains the key elements of that part of the syllabus, with some very useful diagrams, and revision summaries that go over the main terms and ideas in that particular topic location. http://www. jusbiz. org This web site is somewhat distinctive in this it aims to focus on a global and honest dimensions in Economics. We have a lot of useful material and a very good glossary of key terms and ideas. There are also beneficial links to other sites. http://www. revisionguru. company. uk/economics

This website provides an Economics textbook which has definitions and explanations of the key terms and concepts across all parts in the syllabus. Additionally, it contains some very useful layouts. Cambridge International Tests 2012 Learner Guide to get Cambridge BECAUSE and A good Economics http://economix. blogs. nytimes. com This site, linked to the New York Times, uses Economics as being a framework pertaining to thinking about a large number of events taking place all over the world. http://en. wikipedia. org This net encyclopaedia has its own very great entries in many monetary concepts which is helped by links in blue to numerous other parts.

Television, Paper and Journal sites http://www. bbc. company. uk This can be a website with the BBC which is updated on a regular basis. You need to visit the bottom of the home page and click on ‘Business , Money’. There is then the menu that you write in the cue section hand side of the home web page, you just need to attend ‘Business’ and click on ‘Economics’. It provides practical links to a wide range of related sites which include video and audio links as well as content articles. There are valuable ‘Country Profiles’ providing economical information about countries all over the world and a number of ‘Special Reports’, most of which are interesting to the Economics learner. ttp: //www. cnn. com This amazing site has a array of articles and video clips on many aspects of economics. You may click on the geographical area of the world or perhaps on community business. http://www. economist. com There are many journals and newspapers with websites which will be particularly helpful in getting up-to-date information about Economics. This is certainly one of the better sites and contains some very good articles, masking all parts of the world, which will help you to consider the usage of economic ideas to particular events and issues.

A lot of access is limited to clients only. http://businesscasestudies. co. uk/ This site supplies a wide range of circumstance studies featuring a number of internationally known businesses. The information is definitely wide ranging and applies various economic ideas to particular business scenarios. http://www. businessweek. com http://www. ft. com http://www. protector. co. uk/ http://independent. co. uk Cambridge Intercontinental Examinations 2012 Learner Guide for Cambridge AS and A Level Economics http://www. telegraph. co. uk http://www. the-times. co. uk http://www. thesundaytimes. co. uk/sto/

All of these newspapers and magazines will have a great deal of economic information that is regularly updated. Recognize an attack get into the habit of looking at those sites of the most important newspapers and magazines in your own country and geographical place. Some access is limited to subscribers just. UK concentrated sites http://www. statistics. gov. uk This great site is particularly valuable if up-to-date economic information is required on such matters as taxation, balance of payments, job, productivity and inflation. It is primarily concerned with statistics that relate to the united kingdom economy. http://www. bankofengland. to. uk This site is very useful for information concerning monetary coverage and how it works, such as decisions about interest rates. It is also useful in relation to the role and function of a central bank. The lender of England will concentrate on UK matters, but every single central bank in the world will probably have a unique site. You will need to find out what is a website for the central bank of your country. http://www. ifs. org. uk/ This can be a website from the Institute to get Fiscal Research. It includes a range of issues associated with fiscal insurance plan, but is commonly focused generally on the UK. Cambridge International Tests 2012

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