Data Response and Essay Techniques for CIE/ CAIE Economics (Paper 2)

Data Response:
1. Read analytically. Ask how, why and what

2. Spend not more than 5 minutes to get a very thorough picture

3. Spend not more than 45 minutes on this section

4. Pay attention to keywords used - identify, outline and state do not require detailed analysis or  explanations


5. Provide explanations if the instructions are explain and analyse

6. 'Discuss' refers to evaluation-based question. They are always the last question. Suggested approach - 2 agrees, 2 disagrees and a conclusion

7. 'Consider whether' is the new keyword for evaluation. Sometimes, there may be more than one evaluation questions. May carry up to 4 marks - 1 yes, 1 no and a conclusion

8. Candidates WILL DEFINITELY lose 1 mark from evaluative questions e.g. 5 marks instead of 6 marks or 3 marks instead of 4 marks if NO CONCLUSION is given. However, that doesn't mean 6 marks/ 4 marks would automatically be awarded either if a conclusion is given. The examiner will also need to consider the quality of the conclusion given e.g. whether it is justified, reasonable, correct or relevant to the context or not

9. Please make sure that the diagrams are clearly and completely labelled

10. If you can’t finish the 'Discuss' question, please proceed into giving points. It is easier to gain 2 marks than 6 marks

Essays
1. Read all the three pairs of essays. Get the 'feel'. Provided if you are fully prepared, there is definitely one pair that attracts you

2. Prepare a skeletal essay before you start and this must done very quickly e.g. less than a minute 

3. Do not define similar keywords in part (b) if you have do so in part (a)

4. Part (a) essay has to be completed in less than 20 minutes

5. Part (b) essay has to be completed in less than 25 minutes

6. While you are writing the essay, keep looking back at the question to make sure that you fully
 adhered to what the question wants. Avoid writing excessively and going into irrelevant points

7. Remember to use evaluation techniques like contradict, magnitude and short-run vs. long-run

8. Remember conclusion techniques like prioritisation, depends and alternative

9. IF you happen to realise that you have chosen a wrong essay and you have committed into it, then proceed into completing it. Situation cannot be turned around if you switch essay essay at this stage

Essays to watch out for:
1. Using PPC diagram(s) to illustrate concepts like scarcity/ opportunity cost, economic inefficiency/ recession, economic growth and international trade

2. Difference between goods e.g. public, merit and demerit and why profits cannot be made in the provision of public goods but possible in the case of merit and demerit goods

3. Characteristics and functions of money

4. How substitutes, complements, inferior and normal goods can be identified using elasticity

5. Factors which will determine the value of PED or PES

6. How useful is the knowledge of PED or XED or YED or PES to businesses and governments (please refrain from doing this type of question)

7. Whether maximum price is able to protect the interest of low-income families/ whether minimum price is able to protect the interest of firms

8. Between indirect tax and education, which is more suitable to decrease the production and consumption of alcohol and cigarettes

9. Between subsidy and education, which is more suitable to increase the production and consumption of education and healthcare

10. Theory of comparative advantage and how it can be used to explain the pattern of international trade and whether this theory is practical in reality (you have to bring in issues like trade barriers, trade is far more complex as there are more than two goods and two countries, countries do not specialise in just one good etc)

11. Exchange rate and how it can affect demand-pull and cost-push inflation

12. Whether inflation or deflation is more desirable

13. Factors which will determine the value of an exchange rate under floating exchange rate system

14. Fiscal/ monetary/ supply-side policies to correct inflationary problem

15. Expenditure-dampening (contractionary fiscal and monetary policies)/ expenditure-switching (currency devaluation, tariffs and subsidies)/ supply-side policies to deal with current account problem

There's more...stay tune!!