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Recommended Reading
One of the issues I face regularly with pupils when preparing them for their exams is finding a way for theory to be put into practice. It is often the case that theory has been well learnt and can be recited from the tip of the tongue. However, economics exams will always have some sort of stimulus material to deal with, usually in the form of an extract from a newspaper.
For those who do not regularly follow the news or current affairs, the idea of reading such material whilst attempting to complete an exam paper can be more than a little daunting. On the one hand, there is the pressure of knowing that in order to score high marks, there must be a demonstration of understanding and knowledge of key economic theories and concepts. On the other hand, for those without any economics knowledge, the exam could just as easily be perceived as a glorified 'comprehension' exercise. What I have learnt is that when reading the passages given and answering the questions, it is important to ask yourself a few questions:
- Within the extracts, which theories/concepts could the material be alluding to? (for instance, in a recent paper, reference was made to relocation allowances to key workers such as nurses. To an economist, the role of these would be to increase geographic mobility and therefore improve the functioning of the labour market – but you must say this!)
- What evidence is there in the extract to support arguments for and against? (to get higher mark ‘evaluative’ questions, it is important to show a readiness to back up your arguments and show that you can assess the significance. For instance, a question on international trade might require you to pick out how important exports are to the economy by finding what percentage of GDP they are responsible for).
Making direct reference to a particular extract and quoting from it are good ways of showing that you have actually bothered to read the material given to you. Make sure that for every question you try and find a way of using it simply because using any information they give you is the easiest way of scoring points – low-hanging fruit as it were. Only once you feel you have sufficiently utilised the extracts should you then go on to show how much you know about the theory and models etc.
In essence, answering these questions well requires a synthesis of skills – bringing your ability to interrogate and draw from new information together with the application of your theoretical knowledge to make a coherent and balanced argument.
