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Students had an opportunity to show off what they learned on a macro-focused higher-level economics paper, teachers have said.
Máiréad O’Sullivan, an economics teacher at Glenstal Abbey, said her students found the paper to be “nice with plenty of choice.”
Rob Quinlan, an economics teacher at the Institute of Education, said the paper was in line with previous papers, but lacked some of the contemporary news lines that students can often use.
“Students will be delighted with this paper, particularly if they have practised their past papers,” he said.
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“Many moments on this exam were reproductions of previous questions, sometimes with only a minor name change for variety.
“For most students this will have meant that they were retracing familiar ground, the bread and butter of the course.
“For those who really love the dynamism of economics and how it connects with the contemporary world, they may have few moments that really engaged them and gave them a distinct sense of triumph.”
Mr Quinlan said the paper was more focused on macroeconomics than microeconomics.
“Many students prefer macro due to the room to manoeuvre in answering, as opposed to the much stricter micro material.”
Ms O’Sullivan said that students were particularly delighted and relieved to see monopolistic competition come up on the paper, as per predictions in the run up to the exam.
“It proved to be a really nice question and helped settle students into the exam.
The general layout of the paper was excellent with sufficient space for points development, calculations and graph drawing. Boxes were clearly labelled indicating the number of points required for each question.
Often boxes contained ‘nudges’ to give students an indication of what information they needed to provide, which is a great feature and would have been very helpful for students.”
Ms Sullivan said that the paper had the right combination of calculations and analysis style questions, including questions around the application of concepts.
“It really gave students an opportunity to show off what they had learned over the past two years. There were fewer definition questions than in previous years.
“Students who had thoroughly studied market failure were rewarded too as it popped up in a number of questions in today’s paper including vape market failure.
“Those who may not have been as well prepared on the application of concepts may have found such questions a little tricky.
“Students also felt that the questioning was very broad, examining concepts including: income elasticity of demand, corporation tax, equilibrium, price
Discrimination, obesity, data centres, vacant property home tax and globalisation – so it may have challenged students who cut corners in their revision,” Ms O’Sullivan said.
There were some challenges on the paper.
Mr Quinlan pointed to question 8(b), where students were asked about the “characteristics of consumers” rather than the more typical “characteristics of the market”, thus offering much less leeway in crafting an answer
“Later, in question 14, part c (ii), the difference between ‘real rate’ and ‘nominal rate’ will have tripped some,” he said.
Ms O’Sullivan said that question 12, part c (ii), which asked about possible effects of the demerit good markets, was somewhat unclear.
“Many students felt unsure as to what exactly they were being asked,” she said.
“This may need to be taken into account when marking the paper.
Leaving Cert economics, ordinary level
Try this one at home:
Leaving Cert economics, higher level
Question 7:
“The number of teenagers in Ireland who vape is on the rise. Vaping poses a number of possible dangers to teenagers.”
(Adapted from RTÉ News)
(a) Explain why the purchase of vape products are a form of market failure.
(b) Outline two ways the Irish Government could intervene in the vaping market to overcome this market failure.
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