What's everyone hoping for in the eco exam tomorrow? (apart from an easy exam
)
I dunno if this is any help, but some of the areas for improvement in the 2020 exam could be used in the 2021 exam (obviously)
Like in the 2019 exam some of the areas for improvement were:
- The concept of elasticity of demand (This was tested in Section A question 9 in 2020)
- Nature and causes of the business cycle (tested in Section B question 2b in 2020)
- AD policies, both monetary and budgetary (tested in Section B question 2c in 2020)
- The role of automatic stabilisers (tested in Section B question 2b in 2020)
- Terms of Trade (tested in Section A question 6 and Section B question 1a in 2020)
The biggest areas of improvement for 2020 were:
- Meaning of the terms of trade (TOT)
- Difference between TOT and balance on trade
- Difference between current account deficit (CAD) and budget deficit (this was also on the 2017 areas for improvement)
- Difference between production and productivity (also on the 2017 list)
- Public debt vs foreign debt
- CAD vs net foreign debt
So I dunno, I guess some of that stuff could be tested (especially the 3rd and 4th points) but I'm not really sure.
But yeah, what's everyone else expecting?