How to revise for AS Economics?

  • 0 votes

I'm on OCR unit 1 (markets in action) is coming up and i just want to know what is the best way to revise for economics.

Posted Wed 12th December, 2012 @ 19:17 by Hello :)

2 Answers

  • 1 vote

Make notes for the whole of markets in action 

Reviewing your notes is the most important thing - make quizzes for topics, flashcards etc on getrevising. Get people to test you on key concepts, definitions etc 

Practice drawing and labelling diagrams correctly - demand and supply, producer and consumer surplus - because atleast 2/3 of these will come up in the exam 

Most importantly, past papers are the key to success - after you have completed all your revision, do as many past papers as possible. Then get your teacher to mark them and tell you what you can improve on. 

When doing past papers, do them in the time you'll have in the exam: 1hr 30 mins - so it will be a realistic measure of how much you can write in the exam. 

Paying alot of attention to the essay question - almost always 'Discuss' questions and they always require a two-sided answer, and most of the time comparison to other policies/methods that could also work, and a good judgement/conclusion - weighing up which policy is best and why, and why you have discarded other methods, and what needs to be done to ensure that the policy will work correctly in solving market failure etc. 

Also, alot of marks are lost on 'Comment' questions which usually hold 8 marks - as they require reasons why the effect of, for instance, an increase in demand increasing price - would depend upon the elasticity of demand, elasticity of supply, magnitude of the shift in demand etc. 

Pay alot of attention to the microeconomic issues in the news as it is always good to refer to recent issues in your essay answers when they are relevant to the question. 

Make sure you know how to draw a negative externality and positive externality diagram and know how to explain this diagram in reference to the question. 

The grade boundaries for the OCR AS Microeconomics Markets in action are veryyyy close! In the Summer, you needed a 43/60 to get an A, 41/60 - B, 39/60 - C. So every single mark counts! 

Hope this helps :) 

Answered Wed 12th December, 2012 @ 19:52 by Jade
  • 0 votes

Also check out this website. It has plenty of revision material with lots of further reading material.

Answered Sat 2nd February, 2013 @ 12:13 by rishabh malu