Hi my dear readers,
Now that was quite special, and gave me a lot of material to think about! It was a nice emphasis on an important, but specific, particular aspect of economics.
Second, know the basic macroeconomic demand-side and supply-side policies very well.
Third, explain your Economics clearly.
Fourth, make sure you use case studies (which basically means use evidence and examples).
Fifth, make sure there is a good evaluative conclusion to the Economics essay.
Last, but certainly not least, be sure to have good time management.
In fact, knowing the allocation of marks, explaining Economics clearly, having an evaluative conclusion, and allocating your time wisely are in fact also good tips on writing any Economics essay during an examination.
A quick revision: the factors of production are - land, labour, capital, and enterprise /entrepreneurship/ risk-taking entrepreneurs. Some other economists also suggest that anything affecting levels of productivity, the level of employments of capital or labour, and competition will also increase AS.
I often use a different formulation (which can be found in my e-book called Success in Macroeconomics), but the idea is still the same - have clear economics explanations.
For instance, in the UK for the A level examinations students could write about incidents during the era of Margaret Thatcher (say, the coal mine strikes) when they write about supply side policies, or what happened during the era of Nigel Lawson, or write about Gordon Brown's economic ideas and policies.
Be sure to spend some time planning, and then spend most of your time writing. You will have to do some thinking before you start crafting your essay.