Free Talk on How To Perform Well in Economics at the A Level Examinations - 22 June 2017, at Trent Global College, 1 Lower Kent Ridge Rd, #02-02

This is a Public Service Announcement (PSA) notice - and a plug for a free talk!

I will be giving a free talk on How To Perform Well in Economics at the A Level Examinations, on 22 June 2017, at Trent Global College, 1 Lower Kent Ridge Rd, #02-02, Singapore. Yes, this event is just round the corner and happening in Singapore.

And what else is round the corner, in the later part of the year? 

Most of us know that the "A" Level examinations are just round the corner and one of the most difficult subjects at the JC and pre-University level is Economics. Parents and economics students may want to catch up on skills, for essay writing and economics case studies alike, and also some key facts, arguments, and points for evaluation required to excel in the examinations.

I will be talking about what are the key areas of economics (especially with the new 2017 MOE syllabus) to watch out for, and important skills for economics essay writing - my area of interest and expertise, as you may be able to tell from my economics essays blog right here - and tips and techniques for scoring well in case studies. And I will also be covering many other techniques and tips that I have mastered over the years - and am honoured and glad to share this knowledge with you. I could also answer some Q&A on economics issues if there is interest. 

Please take note of the details and do come and attend this useful and relevant talk - parents can take notes for students if they are unable to attend: 

Date: 22 June 2017

Time: 10am to 12pm (noon)

Venue: Trent Global College, 

1 Lower Kent Ridge Rd, #02-02, 

1@kentridge (NUH Medical Centre), 119082

(just above Kent Ridge MRT station, Singapore)

We look forward to your participation at the economics seminar on 22 June 2017.

Thank you very much for reading and cheers!

Cheers,
The Editor of JC Economics Essays

JC Economics Essays - This popular website has useful and relevant model economics essays, important tips and techniques for success in economics, and other related supporting materials for economics students. This site also has contemporary and current economic issues with our own perspectives and views on them. 

Special thanks are due - With the kind support of Trent Global College (for supporting my very first external and voluntary seminar by providing the venue for free) and Sallyforth Enterprise (for coordinating and helping to sell economics course packs and for allowing me to volunteer to share my knowledge), I will be giving a free talk and seminar on how to perform well in Economics at the A level examinations - sharing my knowledge and experience for free. Do help support and promote my associates and supporters, please. Thank you very much for reading, and cheers! 

What is the economic impact of Brexit — what happens now that Britain has voted to leave the European Union (EU)?

This economics post discusses how economic growth, trade, immigration, international politics, and more would be affected by a split with the EU - today's historical Brexit

The immediate economic impact of today’s historical event was that Britain’s exit from the European Union shocked global economic assets and financial markets and unleashed massive economic uncertainty.

First, the pound plunged to its lowest level since 1985.

Second, investors fled risky economic assets and turned to the dollar and the yen, sending them soaring.

Third, the Bank of England earmarked £250 billion, about US$344 billion, for potential stability measures, which definitely means that the economic experts expect some turmoil in the near future.

Of most immediate economic consequence, Britain’s vote to leave Europe sent global markets on a wild descent. 

Investors gasped at this major damage to the global economic landscape and decided it looked dangerous and uncertain, and that they preferred to pull their money out of riskier places, and place their money in safe havens, for example Japan which saw the soaring of the yen today (24 Jun, Singapore time).

However, it has to be said that few economists expect that Britain’s departure from Europe will set off a full global financial crisis like the particular economic disaster seen soon after the collapse of the investment banking giant Lehman Brothers in 2008. 

Yet, it should also be said that at the time, that situation was not seen as a major economic blow to the world, and it turned out that the economic situation worsened rather terribly later leading to the global financial crisis.

Economic growth or lack thereof?

Nonetheless, most economists think that leaving the bloc would slow the UK’s economic growth. In a detailed assessment, professor Nick Crafts estimated that the EU directly raised UK’s economic prosperity by about 10 per cent, mainly due to increased economic competition and better access to the single European economic market. 

Many economic questions now linger: what would a new Ministry of trade have to do after the UK broke off with the EU to replace current trade networks and economic relationships? Sign a trade deal with the remaining 27 members of the EU each? 

Should the UK now come to an arrangement with about 50 additional countries with which the EU has preferential deals, or all the remaining 161 members of the World Trade Organisation (WTO)?

Apparently, the Leave campaigners started their campaign suggesting that the UK could maintain access to the European single market, they now think the UK could still trade with the EU under WTO rules and eventually strike a bilateral deal with the trade bloc, and yet not be a part of the EU’s custom union. Such an accord is likely to take years to negotiate, say experienced economic negotiators.

Economic impact of migration? Immigration as an issue?

Britain’s net migration stood at 333,000 in 2015, the second highest figure on record and more than PM David Cameron’s pledge to bring the figure down to the tens of thousands.

It has to be said that net immigration from EU countries, particularly central and eastern European member states, rose rapidly after their accession to the EU and recently when citizens of Bulgaria and Romania also acquired the economic right to work and settle in the UK.

Only by leaving the EU can the government reduce the numbers of EU migrants. That would be fair to say. 

However, the issue is that even if EU net migration was cut to zero, Britain would have far more migrants from non-EU countries than the prime minister’s tens of thousands pledge. Globalisation is by far the bigger issue. 

As long as Britain’s economy is doing well internationally, it attracts immigrants. But now that Britain has left, its economic growth may slow or even fall, thus leading to a decrease in migration - in that particular sense!

What does the future bring? No one knows?

Brexit hurts economically speaking.

The main groups of economists who have published economic studies in the campaign use different economic models and different datasets but speak with unanimity on this subject.

There are many negative economic results: the UK erecting trade barriers with the EU would hit economic prosperity very badly, which is not easily replaced by greater economic free trade elsewhere in the world. Leaving the economic bloc would afford the UK little additional regulatory freedom and there could be negative long-term economic consequences from the short-term upheaval of Brexit. 

On balance, experts and economists overwhelmingly think leaving the EU is bad for the UK economy.

One final point – on that 350 million pounds claim…

However, in the final analysis, no one really knows what happens now. The collective imagination leads to dark places.

In particular, as a final note on this sad day, one major piece of news that is making the rounds is the fact that some of the Leave camp's economic claims turned out to be not true. One major example is:

“The EU now costs the UK over £350 million every week – nearly £20 billion a year”

- by the Vote Leave campaigners

Well, yes it turns out that EU membership does come at a cost. Sure it does! 

Nothing is free in the world; there is no free lunch. 

Yes, the UK pays more into the EU budget than it gets back, but it turns out that the UK does not pay £350 million a week. In fact, the UK’s discount, or rebate, reduces what the UK should pay. Some of the so-called given away money came back in EU payments funnelled through the government, so the government’s ‘net contribution’ was around £8.5 billion, or £160 million a week. The EU also spends money directly in the UK (many economic articles show where EU grants go, especially to some poorer cities in the UK) – well, since this is an academic article, especially in grants to British researchers, for instance.

Therefore, it turns out that one of the major claims by the Leave camp was fradulent, fake, false, inaccurate. 

Maybe Brexit is a mistake. Only time will tell.

JC Economics Essays – Today’s post is a special news report on a historical economic issue. It is a huge and momentous event in the world’s economic history. 

Special thanks to FT, ST, HP, and SS for synthesising this news report on Brexit and its economic impact. 

JC Economics Essays is an economics website has a wide range of economics resources, such as economics essays at the A level standard (H1, H2, H3, and A level standards), and undergraduate and masters economics essays. In particular, JC Economics Essays has model A level economics essays and responses that students could use as a reference for learning, as well as tips and techniques for writing strong and well-argued essays. Thank you for reading, and cheers.

I Didn't Score Well on Economics Case Studies till I Learnt These Secrets!

This post shares the secrets on how to score well on Economics Case Studies at A levels

Do you want to do well in Case Studies? These effective tips and techniques, if followed, will help you level up your game quickly so that you can score highly.

1. The first secret is pure common sense– really, really, really know your economics. 

Have you learnt and mastered your economics? The reality is that case studies are not English comprehension passages for you to find and paraphrase information, but require a grounding in economic theory. Studying hard for economics will provide you with strong theoretical economics to answer case studies properly.  

2. The second secret is to answer the actual question posed, and not what you imagine the question to be. 

If the examination question asks for real world examples, it is not the same as explaining economics using pure theory. Use real world examples, and link them to the relevant theory.

If the question asks for an answer from a particular source, use that source in your response or answer. Literally state: "In Source A" or "In Extract 1". It really is that simple to score in case studies!

If the question asks for a "comparison", it is different from an "evaluation". Literally state: "On the one hand, ... but on the other hand, ..." Alternatively, say that "One major similarity is", and "One major difference is". It really is that simple.

Always remember that if you do what the economics examiners want, they will reward you with an excellent economics grade. If you annoy them, then needless to say, they will not reward you but punish you instead. 

3. The third secret or pro tip is to get really comfortable with data-handling skills (in terms of charts, figures, statistical and textual knowledge). 

Can you read economic charts and diagrams, examine figures and tables critically, and understand facts from what you read?

Anyone can get better and better each and every day at understanding charts, diagrams, tables, and figures. While I know at first this might appear to be a challenging task, but with constant practice you will eventually reach a level of competence. It is like riding a bike - at first you are not so strong and in fact quite a bit wobbly. Eventually, you will be riding properly and wondering why people are having problems even balancing.

Read newspapers each and every day and visit online websites with facts and figures often, to get comfortable with data and figures. Newspapers (especially the business, finance, and money sections) and online sources are great places to look for economic data.

Ask yourself questions about the figures and data that you read. Put some hard work into understanding the newspapers' economic data, like GDP figures, unemployment figures, economic growth numbers, inflation statistics, and balance of payments figures. 

Try to take active steps each and every day to understand what you are looking at. Ask yourself some simple questions to learn more:

What is the context?

What is the economic story?

What is the underlying economic theory?

What economic theory can I use to understand this real world phenomenon?

What additional economic knowledge can bring to bear to understand the data? 



4. The fourth secret is to always use relevant diagrams to augment your economic analysis.

One of the biggest secrets is that, actually, A level Economics Case Studies are not really that fundamentally different from economics essay questions. Responses to the case study questions should be rightfully thought of as shorter and less detailed economics essays, but economics essays nonetheless. 

In an economics essay, you should use economics diagrams to demonstrate your point or argument. Therefore, similarly it stands to reason that in a Case Study context you should also use appropriate and relevant economics diagrams to buttress your case. This simple step would give you an edge over other economics students and help you score much better than they do. Just remember that A levels Economics Case Studies are really all about mini economics essays. 

5. The fifth secret is to always watch the mark allocation. 

A few jobs ago, I worked as an economics teacher at a leading junior college.

It used to amaze me all the time that economics students would write a whole page for a 2 or 4 mark question, yet they would only write half a page or one whole page for a 8 or 10 mark question. Does this strategy make sense? 

Surely, the fewer the marks, the more to the point the answer should be. The fewer the marks, the more direct the response required. In other words, do not write the same level of detail for all your responses. In fact, often times, economics tutors like myself were looking out for two arguments for two marks; three arguments made for three marks. We were not thinking in terms of an essay. For questions that were 5 or 10 marks, we were looking for essays - but we got economics points instead! Incredible.

Do remember to balance your time, effort, energy, and brainpower by the marks allocated. Economics tutors and teachers often focus students' attention on time management - I say that mark management is also important, if not even more important.

(Remember the economics concept of "opportunity cost" - and if you have to ask what that is, do re-read the secret tip Number 1.) 

Write more, explain more, elaborate more, use powerful and relevant diagrams, and evaluate more for higher mark questions - as I have said already, it really is the same strategy as an economics essay. 

Just remember the five important Secrets to Case Studies that I am sharing with you, and do them in your examinations - 

Really, really, really know your economics. Study hard!

Answer the question posed, not the one your imagination is telling you to answer. 

Get comfortable with data handling, whether charts, diagrams, statistics, or facts. 

Use relevant and useful economic diagrams in your mini-essays.

Watch the mark allocation; more marks, write more.

Good luck!

JC Economics Essays - In this post on my economics website, advice on how to succeed at economics case studies was given by a former economics tutor, based on a framework followed by many good economics teachers. This particular former economics tutor taught for around 3 years at one of the leading junior colleges, with many of his students doing well in the subject and going on to do economics at university. Special thanks to M S for his sharing and kind contribution. Thank you!

JC Economics Essays has a wide range of economics resources, such as economics essays at the A level standard (H1, H2, H3, and A level standards), and undergraduate and masters economics essays. In particular, JC Economics Essays has model A level economics essays and responses that students could use as a reference for learning, as well as tips and techniques for writing strong and well-argued essays. Thank you for reading.

Five simple tips on how to succeed in the A level Economics Case Studies

Many economics students want to know the secrets of how to do well for economics case studies. This is true whether they are in Junior College, high school, or even in universities. 

This post examines five simple tips on how students can succeed in their A level economics case studies. Understanding these strategies will give you a real edge in effectively responding to case study questions. 

What are some strategies and tactics that can effectively tackle or answer economics case studies?

Many economics teachers and tutors claim to have simple steps to scoring in A level economics case studies, especially since A level (whether it is H1, H2, H3 or A/AS) Economics has a strong emphasis on applications to the real world. 

Sometimes these economics teachers' methods work, and sometimes these methods do not. Some methods are detailed, while others are mere gimmicks. In this vein, case studies become something to be gamed and attacked, rather than a real or true learning experience (a formative assessment). 

What would be more important for students would be a real understanding of how to excel in case studies as an assessment. With that in mind, this post gives students real tips on how to really excel in economics case studies. 

The first tip is – really, really, really know your economics. 

Have you really learnt and mastered your economics material? The reality is that case studies are not comprehension passages that ask you to find some information, but require you to have a strong grounding in theory. Studying hard for economics will really provide you with a strong theoretical background to answer case studies properly. Students who just repeat what is in the extracts or sources do not score as well as students who have integrated and internalised their knowledge. 

The second tip is to answer the question posed, as the question is - and not what you imagine the question to be. 

If the economics question asks for an explanation using examples, it is not the same as explaining economics using pure theory. If the question asks for an answer from a particular source, use that source in your response or answer. If the question asks for a "comparison", it is not the same as an "evaluation". What is the command phrase being used? Pay attention to the key command phrases - what is it that the examiner wants you to do? If you do what the economics examiners want, they will reward you with an excellent economics grade. 

The third tip is to get comfortable with data-handling skills (both statistical and textual knowledge). 

Can you read economic charts and diagrams, examine tables critically, and understand figures? I know at first glance this might appear to be a challenging and herculean task, but with constant practice comes competence. Anyone can get better and better at understanding charts, diagrams, tables, and figures. 

Put some effort into understanding economic data, like GDP, unemployment, economic growth, inflation, and balance of payments figures. Try to take active steps to understand what you are looking at. What is the context? What is the economic story? What is being said factually? What is the underlying economic theory? What economic theory can I use to understand this real world phenomenon? What additional economic knowledge can bring to bear to understand the data? 



The fourth tip is to always use appropriate and relevant diagrams to help elaborate your economic analysis.

A level Economics case studies are not really that different from economics essay questions. They can be thought of as mini-essays, or short economics essays. 

Think of economics case study questions as requests for responses (in essay form), especially for questions which are more than 4 or 5 marks. 

In an economics essay, you should use economics diagrams. Therefore, in a case study context you should also use appropriate and relevant economics diagrams to illustrate your point. This would give you an edge over other economics students. 

The fifth tip is to always watch the mark allocation. 

It amazes me that sometimes economics students write a whole page for a 2 or 4 mark question, yet they write half a page or one whole page for a 8 or 10 mark question. Does this strategy make sense? 

The fewer the marks, the more to the point the answer should be. The fewer the marks, the more direct the response required. In other words, do not write the same level of detail for all your responses. Balance your time, effort, energy, and brainpower by the amount of marks allocated. Economics tutors and teachers often focus students' attention on time management - I say that mark management is also important, if not even more important. 

Write more, explain more, elaborate more, and evaluate more for higher mark questions - it is the same strategy as an economics essay. 

To recap: to succeed in economics case studies, always remember and practise the five tips you have learnt: 

Really know your economics. 

Answer the question. 

Get prepared for data handling. 

Use economic diagrams in your mini-essays.

Watch the mark allocation.

All the best for your economics case studies. 

Thank you for reading, and cheers! 

JC Economics Essays - In this post here on my economics essays blog, we discuss strategic tips on how to address and respond effectively to economics case studies for H1, H2, and H3 'A' Level Economics and also for economics examinations which have case studies as part of the assessment. This post would be useful for examination preparation and economics training. 

All ideas and opinions expressed are the editor's own ideas and opinions. 

Thank you for reading, and cheers.