GCSE Economics

Name: ___________________

Teacher: Mr Tarn

Business, Information Technology and Enterprise

Introduction 2

Exam Specifics 3

Exam Questions

Case Study Items 4

Stating and identification questions 5

Explanation Questions 6

Analytical and evaluative questions 9

Practice Exam Questions 13

Useful Websites 21

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Contents

Introduction

Well done on completing Unit 11, Personal Economics. This unit will have equipped you with the basic tools of an economist helping you to understand your place in and contribution to the local, national and global economy as consumers, workers and citizens.

In the exam for this unit you will be encouraged to investigate a range of modern issues, analysing the evidence from different perspectives so as to make reasoned judgements and informed decisions.

This exam guide will explore the different aspects of the exam and provide opportunities for you to practice and improve your examination technique.

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1. Introduction

Hello Young Economist! My name is Campo. I will offer helpful tips and hints throughout this guide to ensure you succeed in your exam!

Examination details

Paper: Unit 11: Personal Economics

Date: Friday 21st May 2013

Time: PM (1pm start)

Length: 1hr 15 minutes

Marks available: 70 marks

Additional Info: The marks for questions are shown in brackets. You are reminded of the need for good English and clear presentation in your

answers, as you will be assessed for the quality of Written Communication You may use a calculator

Exam Structure

The exam is split up into 3 sections

1. Money (30 marks)

2. Work (20 marks)

3. The National and Global Economy (20 marks)

How you will be assessed

In each of the 3 sections questions will assess your ability to…

1. Recall, select and communicate their knowledge and understanding of concepts, issues and terminology (20 out of 70 marks).

2. Apply skills, knowledge and understanding in a variety of contexts (25 out of 70 marks)

3. Analyse and evaluate evidence, make reasoned judgements and present appropriate conclusions (25 out of 70 marks)

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2. Exam Specifics

With 70 marks available and 75 minutes to complete the exam that’s about a minute for each mark once you have read the Case Studies and questions!

These three techniques are also called Assessment Objectives (AO) and will be referred to by Examiners as AO1, AO2 and AO3.

Each section of the exam paper covering Money, Work and The National and Global Economy, starts with a short Case Study Item such as the example below;

It’s very important you read the Case Study Item carefully and use it throughout the questions in each section to help you in answering each one. Indeed the Chief Examiner for the unit highlights this in his latest exam feedback report (see below).

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3. Exam Questions: Case Study Items

You may find it useful to highlight or circle keywords in the Case Study Item to help you focus on the key aspects of the information which has been given to you.

After being given the Case Study Item you are asked a series of related questions in each section.

The first and sometimes second questions in the Sections for Money and Work will ask you to state or identify something (see examples below). Ensure you read the questions carefully and write in full sentences, checking your spelling and grammar.

These questions tend to be answered well by students as they require a simple recall of knowledge. However marks can easily be dropped if you do not read the question carefully. This is mentioned by the Chief Examiner in his comments below for question 1(b).

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Why don’t you have a go at answering these two questions!

4. Exam Questions: State & Identify

The next questions in the Sections for Money and Work and the first question in the Section for The National and Global Economy, ask you to explain something (sometimes state and explain something). These explanation questions require you to apply your skills, knowledge and understanding in context.

This question is not a general one, it asks you to apply it to Debbie and Alex from the Case Study Item. If you simply explain the general benefits of drawing up a budget you will only receive half marks. Look what the Chief Examiner says for this question…

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You know what to do now, so give it a go! Just make sure you write as neatly as possible so the examiner can read and mark it!

5. Exam Questions: Explain

There are usually two or three explanation questions in each section, which increase in complexity and in terms of the number of marks available. These questions tend to include some extra information in addition to the Case Study Item (see examples below).

It’s this type of question which may require the use of a calculator, so it’s important you bring one to the exam.

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Look what the Chief Examiner said about students who answered this question! Why don’t you have a go at it using this information to help!

As mentioned previously there may be further explanation questions in each Section. Below is a question based on the same Case Study for Debbie and Alex, but this time it’s more open and worth 6 marks.

In the Chief Examiner’s Report they highlighted that many students for this question ignored earnings and simply explained Debbie and Alex’s options for spending. By doing this many students dropped a lot of marks. This may sound repetitive but READ THE QUESTIONS CAREFULLY and MAKE SURE YOUR RESPONSE ANSWERS THE QUESTION DIRECTLY IN CONTEXT.

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This is your time to shine! Show off your skills, knowledge and understanding in the context of Debbie and Alex’s situation to answer this question

The final question in each section of the exam paper asks you analyse and evaluate a situation or evidence, often asking you to make reasoned judgements (i.e. recommend something) and present appropriate conclusions (i.e. come to a final decision based on the evidence).

Analyse: …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

Evaluate: ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

These questions are worth 12 marks in each of the three sections. If you do a little math that’s a total of 36 marks out of the total of 70 available for the exam paper. It’s therefore very important that you answer these questions well.

In these questions you are also assessed on the quality of your written communication. Below are some pointers as to what this means in terms of your answers!

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If you need to analyse and evaluate something it’s important you know what those keywords mean. Find definitions of them both and write them here!

Top tips for excellent Written Communication

7. Your writing should be legible (large enough to read, neat and tidy)

1. Use technical economic terms and language in your answers (use the term ‘money’ and not ‘dosh’)

4. Write in paragraphs for each new point. Use correct conventions for punctuation (capital letters and full stops)

2. Have a clear structure to your answer and include a final judgement paragraph

3. Read through your answer and check whether it answers the question directly in context

6. Use the full width of you page and if you need extra space ask for an AQA supplementary answer book.

6. Exam Questions: Analyse & Evaluate

5. Use correct conventions for punctuation (capital letters and full stops)

Below is an example of the type of question you will find at the end of each section of the exam paper. It usually includes some extra information to add to the Case Study Item, as is the case here.

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Before answering the question below have a look at how it is marked by the examiner on page 12!

It’s me again…each option you analyse and evaluate should form a separate paragraph! Stick to using paragraphs for all extended questions!

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You will drop 6 out of the 12 marks available for these extended questions if you don’t have a final judgement paragraph!

The examiner responsible for marking your paper will read your answer to the final question thoroughly.

The first step they will take is to decide on a level based on your answer. If for example you apply your knowledge to analyse the different options to Debbie and Alex (i.e. in context) you will achieve a Level 3, recording 5 to 6 marks depending on the quality of your answer.

Level Descriptor Marks Assessment Objective

L3

Analyses and applies knowledge of the different option(s) to Debbie and Alex

5-6 AO3

L2 Describes features of the different options. 3-4 AO2

L1

Basic understanding of the option(s) is/are demonstrated. 1-2

AO1

L0 No valid response. 0

The next step the examiner will take is to assess both the quality of your written communication, as well as your analytical and evaluative skills to make reasoned judgements and present appropriate conclusions (i.e. Assessment Objective 3)

When deciding on the level to be awarded for Assessment Objective 3, they will consider the degree to which you order, structure and communicate your ideas. You need to be aiming for Level 2 (i.e. E2) to achieve top marks (see below).

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Using the guidance which has been given so far, answer the questions for final two sections of the exam on Work and The National and Global Economy.

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7. Practice Exam Questions

Did you highlight keywords from the Case Study?

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These two questions only ask for ONE reason/factor, so make sure you explain it thoroughly in context!

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Re-read the Case Study and highlight keywords which will help Debbie make the best choice; and include these to support your analysis and evaluation, remembering to include a final judgement paragraph!

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You will only be awarded for your first reason in this question, so make sure you select one which you can explain thoroughly!

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A minimum of three reasons need to be explained to achieve the full 6 marks for this question!

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Structure your answer in paragraphs, evaluating your points as you go! Include a final judgement paragraph!

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That’s all the questions answered, well done! You now know what to expect in the exam; all that is left for you to do is REVISE using your class folders and student workbooks!

It’s always a good idea to supplement your revision with research. The internet has some great websites to help you with various economic concepts and contexts. Check out some of the useful websites on the next page!

1. Tutor2u: http://tutor2u.neta. Great search function for concepts, topics

and contextsb. Revision Presentations, videos, notes and

activities on key economic topicsc. A GCSE Economics Blog especially useful for

contemporary economic issues (e.g. ethical economics)

2. Biz/ed: http://www.bized.co.uk/learn/economics/index.htm

a. Great search function for concepts, topics and contexts

b. Some useful revision Presentations and notes on key economic topics

3. Money Advice Service: http://www.moneyadviceservice.org.uk/yourmoney/

a. Great search function for all money mattersb. An invaluable source of information for all

topics covered in the Money Section of the course (e.g. Saving, Loans, Pensions)

4. Directgov: http://www.direct.gov.uk/en/index.htma. Great search facility for all financial

mattersb. Great source of information for all topics especially

our section on Work

5. The Fairtrade Foundation: http://www.fairtrade.org.uk/a. Useful search function for countries, products and

businessesb. A great source of information on all Fair Trade and

ethical spending/production issues

6. The Times 100 Case Studies: http://businesscasestudies.co.uk/a. Great keyword search facilityb. 100 business case studies with information related to some of the topics we

have covered on the course

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8. Useful Websites