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Economics Exams

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Hey.. guys. :P

This is might sound like a really silly question but:

What is the best way to answer economics papers for HL (All papers.) Also time management e.g how much time should you spend on each question, planing and stuff.

well thanks for you help in advance

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Hi,

I dug some old posts concerning the answering strategy:

I do DEEDE

Define

Explain

Example

Diagram

Evaluation

Seems strange to give a diagram before the example like some of you suggested. I like to give an example and then use a diagram to illustrate the example. This way the diagram is given a context before it's shown. Just how I do it.

example: monopoly

A monopoly is a single seller/producer of a good in a market. It has high barriers to entry and heterogeneous goods. An example of a natural monopoly is a railway system. The startup costs for competing firms are very high and getting permits to lay new rail is time consuming etc. Because a monopoly is a single seller and hence has no competition, the firm can choose to limit output in order to gain abnormal profits as shown in Figure 1.1.

[DIAGRAM]

Abnormal profits can be used for R&D, monopolies can take advantage of economies of scale [diagram] provide a lot of employment opportunities. However they can also exploit consumers, cause externalities and allocative inefficiency. etc.

My advice: do whatever works best for you as long as it comes off as coherent and ultra-clear :P

btw. I have a transcribed copy of my friend's mock exam for Paper 1 and Paper 2. I have to ask him first if it's ok before I upload it though, so check back later.

Try DEDE FAC [For HL/SL Paper 1]

Define

Explain

Diagram

Example

For

Against

Conclusion

DEDE is for the lower mark question, FAC is for the 10 mark question.

I go by the catchphrase:

DEDEE

D-define

E-explain

D-Diagram

E-example

E-Evaluate

Worked completely fine for me..

BUT..for the short answer questions and part a.) of the long answer question you don't actually need any evaluation. [[i heavily disagree with this, in most questions you do -deissi]]

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It's getting very long so I'll make another post for questions about time allocation. Divide your time according to mark allocation. P1, you have 20 min for (a) and 40 min for (b). P2, 20 min / question. P3, 40 min / question where (a) should be 2 minutes or so, (b) and ( c) 9 minutes and (d) 20 minutes. Dividing your time on P3 is a bit more difficult though, those are just rough estimates. For P1 and P2 you really want to keep to the times stated above, you'll be screwed in the end otherwise.

It's getting very long so I'll make another post for questions about time allocation. Divide your time according to mark allocation. P1, you have 20 min for (a) and 40 min for (b). P2, 20 min / question. P3, 40 min / question where (a) should be 2 minutes or so, (b) and © 9 minutes and (d) 20 minutes. Dividing your time on P3 is a bit more difficult though, those are just rough estimates. For P1 and P2 you really want to keep to the times stated above, you'll be screwed in the end otherwise.

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