economics a level essay plans

How to write essays for Edexcel A-level Economics

In this post I outline the key requirements for each section (mainly B and C) in papers 1 and 2 for Edexcel A-level Economics A. This is the advice I give to my tuition students to help them achieve improved grades.

From years as an economics tutor and from reading through the examiner’s reports, I have picked up students’ typical mistakes and good general approaches for A-level Economics students.

For an online course on economics exam technique, check out this link here:

For sample answers to 25 mark questions, check out the link below:

Here the total marks – 25

So ideal timing – ideally you would get this section done the quickest, for example around 15 minutes or even quicker. 

Note there is no need to say much about the structure here. It is important to be succinct with short answer questions. 

Also with questions asking to draw a graph, make sure to label axes, lines  and equilibria correctly.

Section B 

Now this section requires the knowledge, application and analysis (KAA) skills as well as the evaluation skills. 

Total marks – 50. Note this is half the marks of the paper for papers 1 and 2.

Here the ideal timing – 60-70 minutes. Note you may want to spend some time reading here.

Below, this table shows the mark allocation for each question.

To summarise, the more marks allocated to analysis or evaluation, the more you need to write. You should remember this table when doing exam questions.

Breakdown of Section B by question

First the 5 mark question. Answer the question quickly and use the extract to support your answer. Keep it succinct, at most an extended paragraph. No evaluation required.

Next the 8 mark question. Here 6 marks for KAA, 2 for evaluation. A good general structure is 2 KAA paragraphs and 2 short evaluative comments (or 1 evaluative comment well developed). See page 24-25 of this examiner’s report for a good example, though the evaluation could be even shorter as the examiner’s report notes: here .

Now for the 10 mark question, 6 marks for KAA, 4 for evaluation. The difference between the 8 and the 10 mark question is the extra marks for evaluation. Again 2 KAA paragraphs but now 2 developed evaluative comments.

For the 12 mark question, 8 marks are for KAA and 4 for evaluation. For the 12 mark question, we need 2 more detailed KAA paragraphs, ideally one where a diagram is being used and explained, and 2 developed evaluative comments. To find a response that received full marks, see pages 27 to 28 on the examiner’s report here .

Finally for the 15 mark question, there are 9 marks for KAA, 6 for evaluation. For this we need 2 KAA paragraphs, ideally with at least one diagram where possible. Note these explanations should be deep with more than one chain of analysis per paragraph. The two evaluation paragraphs should be well explained.

Typical Mistakes in Section B

From students essays I have observed, typical mistakes in section B include:

• Often overwriting;
• Specifically spending too much time on 8 and 10 mark questions. This is often to the detriment of 12, 15 mark questions and the 25 mark question in section C;
• Conversely leaving parts or whole questions blank due to not understanding the question or time constraints;
• Also missing one or more of the criteria – application, analysis or evaluation.

Section C – 25 Mark Essay

Finally for the section C essay, total marks – 25 

Here the ideal timing – 35-40 minutes.

So for the 25 mark essay, the mark allocation is 16 marks for KAA, 9 for evaluation.

Now regarding the structure different teachers have different recommendations on the structure of this question. The simplest way is to:

• First, have a short introduction with one/two key definitions;
• Then two extended KAA paragraphs each with multiple chains of analysis, at least one (if not two) graphs in the analysis;
• Between these KAA paragraphs, two extended evaluation paragraphs with extended chains of analysis;
• Finally there should be a conclusion that directly answers the question, justifies the answer and relates back to the context.

In addition for an example essay that scored in the top bands is on pages 56-60 in this examiner’s report here .

Any spare time you should use to make your answers more complete, filling in any gaps left. This exam is often quite tight for time. So please do practise in timed conditions.

Further Reading

Next, a key criterion for doing well is using examples from the real economy. Tips on how to score application marks for Edexcel Economics A-level:

To practise your essay technique on practice papers, you are welcome to look into the practice papers here:

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How to Write a Good Economics Essay

Governor November 28, 2019 Real World Applications 3 Comments

Many students ask “How to write an economics essay?” This Guide to Writing a Good Economics Essay is applicable to both IB economics as well as the Singapore JC A-Level H2 economics examinations. Many of the pointers here are also applicable to large-mark case study questions.

6 Steps to Writing a Good Economics Essay

Step 1: dissect the question.

Make sure you analyse and fully understand the KEYWORDS and REQUIREMENTS of the question. This is a very important skill that is taught in our economics tuition classes .

For example, “Best”, “Most Effective” are closely related but mean different things.

Paraphrase the question to make it simpler if necessary.

Take note of the command word (eg: Explain, Discuss) as it determines the approach needed for the essay, for example, whether two sides are needed or one side is sufficient. Below are some common examples found in economics essay questions:

Command Words                                      Action Required

Account for                                                 Explain why

Analyse                                                        Break it down into step-by-step explanations

Assess                                                          For & Against. Consider other factors.

Compare                                                      Identify Similarities & Differences

Distinguish                                                   Point out differences

Discuss                                                        Explore both sides

Evaluate                                                       The Good and The Bad.

Explain                                                          Show why and how

Explain whether                                            Cover both possibilities

Examine                                                        Look closely. How so and how not so?

To What Extent                                              Yes…..But….Judgment

Remember to look out for the context in the question. This is usually given in the form of a country (eg: Singapore). The examples in your essay must be tailored to this particular context (for example, do not suggest interest rate policy for Singapore as that is considered infeasible in the Singapore context). If no context is given, any real-world example can be used.

Keep in mind the question throughout the essay and remember to always answer the question. Don’t go off-point!

Common Examiner’s Comment :  Not Answering Question (NAQ))

Step 2: Plan Your Answer

Take some time to consider what economic framework you will use to approach the question. Scribble down your main thesis and anti-thesis points. Ensure they ANSWER THE QUESTION.

Step 3: Essay Introduction

In the introduction, include definitions of keywords in the question and spell out the economic framework you will employ for your answer as well as key definitions.

Step 4: Body of Essay

In the body , there will be several paragraphs. 

The number of points/paragraphs depends on the question. It is common to require 2 main points for each 10 mark essay and similarly for 15 mark essay questions. Under each main point, there may be 1-2 sub-points.

Use one paragraph for each sub-point you are making.

However, do not be too focussed on the number of points or paragraphs. The key is to answer the question.

For each body paragraph , use TET’s PEEL(ED) structure. Include only one main idea per paragraph.

• Point – Write your point in the first sentence so that markers will know what the paragraph will be about. The topic sentence must directly answer the question!
• Explanation – Explain what you mean
• Elaboration – Provide further analysis with clear step-by-step economic reasoning. This part may be done with examples as well as diagrams.
• Link – Link your explanations back to the Point and to answer the question.
• Exemplification – Give an example to support your reasoning. It can be statistics or real-world examples (for Case Studies, evidences from the Case must be uncovered!)
• Diagram – Where possible, araw an appropriate diagram with correct labelling and refer to it in your answer. This is crucial to show economic reasoning. Diagrams are very important for economics essays!

These are of course much easier said than done! Thus, students in our economics tuition classes are regularly honed to achieve such output including with tips and tricks to spark off the correct thinking process.

Our resources including the Study Guides for A Level and IB economics also provide a very powerful and handy reference on the depth of analysis required to score the highest marks.

Common Examiner’s Comment :  Mere statements and claims. No economic rigour.

Step 5: In-Body Evaluation

This applies especially to the 15 mark essays for A-Level Economics. A total of 5 marks is catered for Evaluation. Students should attempt to achieve about 2-3 in-body evaluation marks by pointing out how the thesis and anti-thesis points may not be true due to certain assumptions made that may not hold. Students may write “However,….may not necessarily happen……It would depend on whether….”. This statement can be written after the associated sub-point has been made.

Step 6: CONCLUDING SECTION

This only applies to the 15 mark essay questions.

Earn more evaluation marks by making a reasoned judgement. Deliver your verdict like a Judge! 

Check back on the question before you embark on this. Ensure your judgement answers the question.

So the question now is, how does a judge arrive at and deliver a verdict? Certainly, you should not be summarising or merely paraphrasing your main points in the conclusion. Obviously, you cannot expect more marks by saying the same thing over and over again!

After a verdict and reasons have been provided, consider providing further relevant insights and/or recommendations.

Common Examiner’s Comment :  Repetitive. Mere Summary.

Here are some quite common types of Concluding Sections 

• Consider the relative importance of thesis and anti-thesis factors. Which factors are most important or pertinent in the given context? For example, certain policies better fit specifc types of economies.
• Consider short-term vs long-term pros and cons. Do the short-term benefits outweigh the long-term costs? Is the policy more effective in the long-term, and if so, how pressing is the problem that needs to be addressed?
• Suggest a multi-policy approach, in which each policy has strengths and weaknesses that allow them to complement each other.

There is no way to really memorise evaluation points as every question and context is different. After all, you are being tested on higher-order thinking!

There are other evaluation tips that our students will receive but the key point here is that the training of the mind to think and apply economics is essential. That is where our weekly economics lessons come into play and that is why our students are often asked questions in class and trained to think on their feet. As ex-student Xue Min from YIJC testified, Chief Tutor Mr. Kelvin Hong does not just spoon-feeds our students but mentors them in their thinking to arrive at the answers. This was different from other tutors that her classmates experienced and eventually this was the key to Xue Min’s A grade.

In your essay, write in simple and clear sentences. Everything you write should be value-adding. You do not have to spend time showing off vocabulary as no extra points are awarded for language. Focus on economic reasoning. Use succinct and effective examples which support the point you are trying to make as well as accurate diagrammatic analyses.

For samples of great economics essays, please check out our free Economics Model Essays and sample Past JC A-Level Economics Questions and Answers .

For our econs publications that are sold worldwide, please check out our A Level & IB Economics Study Guides and Model Essays Publications

About The Economics Tutor

Founded by Kelvin Hong in 1998, The Economics Tutor is one of the leading economics tuition in Singapore . We provide a comprehensive program to guide students in understanding complex economic concepts and applying them through case study analyses, essay writing and discussion of real world events.

For 24 years, the way we teach JC Economics Tuition (A Level Economics Tuition) and  IB Economics Tuition  classes helped learners appreciate economics and everything it entails on a much larger scale. We take things step-by-step, implement effective techniques in memorising frameworks and give every student the chance to nurture their ideas. 

We don’t just solely focus on helping you get stellar grades and perfect scores. We make sure that we also hone the critical thinking skills and investment / business decisions you can use outside the four walls of your classroom.

Looking for a fun, engaging and probably the best economics tutor in Singapore? Look no further—check out our extensive and high quality economics resources on the website such as our IB and A Level Economics Publications

Book your lesson today and master the nuances of economics in our next class!

its good knowledgeable post regarding ib economics commentaries. i just wanted to admin can i use your blog as reference to my students .

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How to write economics essays

All Economics exam papers at A-Level will have a 25-mark essay-style question, which requires evaluation .

There are different approaches that can be taken in dealing with essay questions, and there is not one essay writing 'template' or 'wizard' that can deal will all questions. However, a commonly used method is to use the first half of your essay to complete the analysis and the second half to evaluate - this is an easy approach to master, and can be used to answer most microeconomic and macroeconomic essays. More on this later.

What the mark scheme tells us

The mark-scheme for a 25-mark question is typically based on the ' levels ' method, with marks allocated in the following way:

4 marks for correctly demonstrating knowledge and understanding of economic concepts and models

4 marks for applying your knowledge and understanding to the 'context' put before you - this case a chocolate manufacturer

8 marks for providing an analysis of the decision (in this case, to raise price) - i.e. what are the expected effects, consequences and results

9 marks for evaluating a decision (question, issue, policy, or problem) based on your judgment , with reference to the problems or risks associated with the decision (policy, problem etc.)

Points to note

• Exam boards often state that, in a 25-mark question, definitions are not specifically required , but it is good practice to define key economic terms that are specific to economics, and to the question.
• Application does not happen in one section of your answer, but should run throughout your answer . In other words, answers that are purely theoretical and detached from the context will not earn high marks.
• For analysis and evaluation, developing a chain of reasoning is essential - ( read more on chains of reasoning ) you have to show exactly how you arrived at a point, judgment or conclusion. A carefully chosen, well draw, accurately explained and fully integrated diagram is essential for effective analysis. This is only possible if you start out by making your assumptions clear.
• For evaluation, it is essential that you provide an alternative approach , (alternative decision, policy etc.) and that your conclusion is not just a summary but a 'weighted' judgment .
• While you only have 30 minutes to write, it is essential you plan your route through your answer - 4-5 minutes planning is worth its weight in gold!

So, lets have a look at a couple of ways to deal with a 25-mark question. Both have similar openings and conclusions, but start out with different assumptions.

' Evaluate the decision by a chocolate manufacturer to raise the price of its 'luxury' box of chocolates .'

There are several factors a chocolate manufacturer will take into account when making a decision about its price. Factors affecting this decision depend on the market structure it operates in, the level of competition it faces, its size and ownership structure. These will affect its main business objective, which in turn will affect its decision regarding price and non-price factors.

We will assume that the chocolate manufacturer's objective is to maximise profits and that it is a price maker and facing a downward sloping demand curve. This means that it is not operating in a highly competitive market, and can raise price without suffering a complete collapse in sales. Profit maximisation arises at the output where MC=MR, which in the diagram is quantity Q. At profit maximisation, the area of supernormal profits (SNP) is area p a b c.

At this quantity, marginal revenue equals marginal cost, which means that any change in price or quantity produced will move it away from profit maximisation. For example, if the chocolate manufacturer increases price to P1, demand will contract along the demand (AR) curve, from 'a' to 'v', resulting in equilibrium quantity falling to Q1. At Q1, MR is greater than MC, which means there is an opportunity cost because the firm could reduce price and produce more, which would lead to an increase its supernormal profits.  So, reducung price and producing extra marginal units of output will add to SNP until MC=MR is reached. Hence, in terms of achieving its profit maximising objective, an increase in price above 'P' is clearly counter-productive. This is supported by the probability that demand for 'luxury' chocolates is price elastic, and the producer is operating in the elastic range of the AR curve. As a result, any increase in price will reduce total revenue, and also reduce SNP, which falls to area P1 v w x.

However, there are issues with this analysis. Are the assumptions about the chocolate producer and its market valid? Is the chocolate producer targeting profits, or attempting to achieve a different objective? Will  there be negative, and even unexpected consequences of the price rise?

The assumptions regarding the market structure certainly might not hold - in a less competitive market, with fewer firms, the price rise may have a much smaller effect because consumers have less choice. Demand may be more inelastic than predicted, especially if there is loyalty to the brand of chocolate - even though it is a luxury product.

Also, the chocolate producer may have previously been a revenue or sales maximiser and may have decided to change its strategy from revenue or sales maximising to profit maximising. As a revenue or sales maximiser price will be set at a lower level, to stimulate sales or gain more revenue. Management salaries or bonuses may be connected with sales, hence a low price will help the firm achieve this objective. The price increase will move it towards profit maximisation rather than away from it, and help it achieve its new objective. Alternatively, the producer may be a 'profit satisficer' looking to increase its profits but not maximising them. In any of these cases, the price rise might be a rational decision.

It is not known whether rivals will keep their prices on hold, reduce them or raise them to match the firm's price increase. If the firm has a few close competitors, then these firms may be interdependent, meaning it may be more beneficial to keep prices on hold to reduce uncertainty.

Furthermore, the price rise could encourage unwanted new entrants, attracted by the opportunity presented. Raising price could also send a signal to existing producers to launch their own 'luxury' version of the product.

Of course, there may be alternative decisions to consider to help it achieve its objectives, such as changing its non-price activities. So, the price rise could be justified if an effective marketing campaign could help increase demand (AR) and, diagrammatically, shift the AR (and MR) curve to the right, as shown.

In this case, profits are maintained, or even increased, as shown, with lower supernormal profits at area P1 k r m.

Taking a wider view, price rises reduce consumer surplus, and if personal incomes remain constant, consumer will have less income to spend on other goods and services, and the price rise will cause a negative income effect. Of course, a rise in the price of chocolate would not have the same effect as a rise in interest rates or house prices, so the income effect is very small.

In conclusion, the decision to raise prices cannot be judged without understanding the nature of the market, the level of competition and the firm's current objectives, and compared with alternatives. There is also the wider economic context to consider, such as whether the economy is in a recession, with pressure on disposable income, or whether the economy is growing, with consumers feeling confident. There are clearly risks associated with an increase in price, and it might be less risky not to raise price, and put more effort into non-price strategies. However, if the assumptions that the firm is already a profit maximiser, that there are no other changes to its non-price activity, and that the behaviour of other chocolate producers does not change, then a price rise seems unjustifiable as it would fail to achieve its dominant objective - to maximise profits - and raising price would, in this case, be an irrational decision.

Answer two - the alternative answer

We will assume that the chocolate manufacturer's objective is to maximise profits and that it is a price maker and facing a downward sloping demand curve.  We will also assume that it currently is not profit maximising, but producing at an output greater than profit maximisation, at output Q, and a lower price, at P in the following diagram. Profit maximisation arises at the output where MC=MR, which in the diagram is quantity Q1, and price P1.

At the quantity Q, while marginal revenue is negative at 'f' and below marginal cost at 's',  the chocolate manufacturer still makes a supernormal profit, shown as the area SNP (area Pvwx). Also, at the current price of P, price elasticity of demand is inelastic because, in the diagram quantity demanded, Q at price P is to the right of the mid-point of the demand (AR) curve. Given that, at the mid-point, PED equals (-) 1.0, which is where MR=0, at its current output, PED must be inelastic.

Given these assumptions, a decision to increase price above P will help the manufacturer achieve profit maximisation. Because the firm operates in the inelastic portion of its demand (AR) curve, the planned price rise reduces the quantity demanded, to Q1, but increases total revenue - at least up to the output where MR=0. The reduction in output that follows means that the variable costs of production fall, which means that marginal costs fall (from 's' to 't'), while at the same time marginal revenue increases from 'f' to 't'. Assuming profit maximisation is still the dominant objective, the price rise is clearly beneficial, as it leads to increased profits (area P1a b c) resulting from the lower marginal cost and the higher marginal revenue.

However, there issues with this analysis. Firstly, are the assumptions about the chocolate producer valid, secondly, is the chocolate producer wishing to increase profits, and thirdly, will there be any negative, and even unexpected consequences of the price rise?

The assumptions regarding the market structure certainly might not hold - the market could be much more competitive, and approach perfect competition. This would result in a very different outcome for the producer, especially in terms of a price elasticity of demand, which rises with increased competition. In a more competitive market, there are more choices for the consumer, and any price rise by one firm may result in falling revenue. Demand may be more elastic than predicted, especially because the price rise is for the 'luxury' version of the box of chocolates, where demand is likely to be more elastic.

Also, the chocolate producer may not be a profit maximiser, but may instead be a revenue or sales maximiser, in which case the price rise could move it away from maximising sales or revenue points. If the firm is a large producer where there is a separation of ownership and control, it is more likely that other 'managerial' objectives dominate decision making. If, for example, the firm is looking to maximise sales volume, perhaps because management salaries or bonuses are connected with sales, then a price rise would not be beneficial.

It is not known whether rivals will keep their prices on hold, reduce them or raise them to match the firm's price increase. If the firm has a few close competitors, then the fact that these firms may be interdependent means that it may be more beneficial to keep prices on hold and reduce uncertainty.

Of course, there may be alternative decisions to consider to help it achieve its objectives, such as changing its non-price policy. So, if there is also a successful marketing campaign designed to increase sales, or build a brand, price increases could be postponed until the brand is well established.

In conclusion, the decision to raise prices cannot be judged without understanding the nature of the market and competition and the firm's current objectives, and compared with alternatives. There is also the wider economic context to consider, such as whether the economy is in a recession, with pressure on disposable income, or whether the economy is growing, with consumers feeling confident. There are clearly risks associated with an increase in price, and it might be less risky not to raise price, and put more effort into non-price strategies. However, if all the assumptions listed above are fully met, then a price rise seems justifiable in that the firm can achieve its dominant objective - to maximise profits.

These are two answers which use a similar structure, and common introduction and conclusion - but start with different assumptions, and therefore have a different analysis, and evaluation.

There are other several possible approaches to this question, and other evaluative points that could have been included. For example, there could have been more emphasis on what rivals might do, and there could be more robust questioning about exactly how much the price is being increased by, and whether this is just a temporary strategy. The essay could also have raised the question of the possible external effects arising from less output and consumption (namely fewer negative consumption and production externalities). However, with the time constraint in the examination room, it is not possible to cover every 'blade of grass' and some good points may have to be sacrificed.

Finally, the 'starting point' and assumptions could have been different, which would have led to a different analysis.

Conclusion and key takeaways

Having a structure to help you tackle an essay-style question is very important.

Both essays use the same four-part structure :

• Part 1, the analysis - making assumptions, and using the correct diagram to show how a decision or policy will work to achieve an objective.
• Part 2, the evaluation begins with ' the bridge ' of the essay - assumptions are questioned and probably changed.
• Part 3 the full evaluation , where an alternative or alternatives are explained based on the change of assumptions.
• Part 4, the conclusion , where the evidence or strength of argument is assessed, and the decision, policy or assertion is 'accepted in full', 'accepted in part' or 'rejected' in favour of the alternative(s).

Finally, it is clear how important diagrams are in analysis and evaluation, and helping develop a logical chain of reasoning - so ensure that you have undertaken enough practice in constructing, applying and integrating diagrams to a wide range of past questions.

Other tips:

How to study economics

How to write the perfect conclusion

How to answer data response questions

How to include chains of reasoning

Edexcel A-Level Economics | Every 25 Marker

AS 20 Markers

In 2015 a report by Public Health England recommended the imposition of a 20% tax on the sale of soft drinks that contain high levels of sugar. Evaluate the likely microeconomic effects of such a tax . (June 2017)

‘Revenue maximisation is a more realistic business objective than profit maximisation for many businesses.’ To what extent do you agree with this statement? Refer to an industry of your choice in your answer. (June 2017)

In September 2016 the government approved the building of an £18 billion nuclear power station, Hinkley Point C, which will supply 7% of UK electricity for up to 60 years. The power station is funded by Chinese and French investment. Evaluate the likely private costs and external costs involved in such major power station construction projects. Use an appropriate externalities diagram in your answer. Evaluate the likely private costs and external costs involved in such major power station construction projects. Use an appropriate externalities diagram in your answer. (June 2018)

In July 2016 Apple’s share of the UK market for smartphones was 38%. Evaluate whether such a high market share for one company is in the consumer interest. Use appropriate diagrammatic analysis in your answer. (June 2018)

In July 2017 it was announced that only a third of the BBC’s 96 top earning presenters were women and that its seven highest-paid presenters were all men. According to the High Pay Centre, in 2018, UK chief executives can earn 120 times more than the average full-time worker earning £28 758. With reference to an industry of your choice, evaluate why wage differences exist within the UK labour market. (June 2019)

In October 2017 Scania, the Volkswagen-owned truck maker, was fined €880 million (£771 million) by the European Commission for colluding with five other truck manufacturers over a 14-year period. The firms had agreed to coordinate prices after experiencing additional costs of meeting emission regulations. With reference to an industry of your choice, evaluate why some firms engage in collusive behaviour. (June 2019)

The International Energy Agency has predicted that oil use by cars will peak in 2025 because of the increasing number of drivers switching to electric vehicles. Evaluate the likely microeconomic consequences of consumers shifting from vehicles powered by fuel obtained from oil to electric-powered vehicles. (June 2020)

‘Amazon.com, the giant online retailer, has too much power.’ It uses its market power to put a squeeze on publishers, in effect driving down the prices it pays for books. If a publisher refuses, Amazon may take action by ‘delaying their delivery, raising their prices, and steering customers to other publishers’. Evaluate the likely costs of a monopsony operating in a market such as book retailing. (June 2020)

The national living wage, the minimum wage for 25-year-olds and over, is expected to rise to more than £10.50 an hour in 2024 compared with £8.72 in 2020. The wage does not apply to the UK’s self-employed and ‘gig economy’ workers. Some economists said the increase was ambitious. Business groups warned that employers in sectors such as social care could be hit hard. In large parts of the north of England the living wage has already reached two-thirds of local median earnings, said Professor Shackleton. Evaluate the disadvantages of a significant increase in the national living wage on a specific labour market, such as that for social care workers. (June 2021)

In many industries, such as banking, health insurance, internet search engines, pharmaceuticals, social media and telecommunications, there have been increases in market concentration. Evaluate the possible consequences for business decision making of increased market concentration. Refer to industries of your choice in your answer. (June 2021)

Evaluate the likely costs of a monopsony operating in a market such as book retailing. (June 2021)

Evaluate the disadvantages of a significant increase in the national living wage on a specific labour market, such as that for social care workers. (June 2021)

‘Tradable permits are less effective than taxation in reducing carbon emissions.’ To what extent do you agree with this statement? (Specimen)

Evaluate the likely microeconomic impact of an increase in the UK national minimum wage. (Specimen)

Tesla held an 82% market share of the electric vehicle market in the United States during the first half of 2020. Evaluate whether a monopoly is likely to operate efficiently. Refer to at least one monopoly of your choice. (Specimen )

Some occupations in the UK are facing large labour shortages. Hard-to-fill vacancies include qualified chefs, software engineers, construction workers and qualified nurses. Evaluate the factors that might influence the supply of labour in an occupation of your choice. (Specimen)

Since the global financial crisis of 2008 there have been over 5 700 increases in tariffs, quotas and administrative controls on international trade. Evaluate the likely effects of an increase in protectionism on the economy of a developing country of your choice. (June 2017)

Global oil prices fell from a 2008 peak of $147 a barrel to $27 in 2016. Evaluate the likely macroeconomic consequences of a significant fall in global oil prices. (June 2017)

In 2016 the UK Chancellor of the Exchequer announced that the government would spend an extra £23 billion on innovation and infrastructure over the following five years. Evaluate the likely economic effects of this planned increase in government expenditure. (June 2018)

The British pound fell by over 10% to a 30-year low against the US dollar after the UK voted to leave the European Union. To what extent will this depreciation impact on future economic growth in the UK? (June 2018)

Three of Africa’s main trading blocs have agreed to form the Tripartite Free Trade Agreement (TFTA). This will create one of the world’s largest free trade areas, stretching across 26 countries with a combined GDP of around £1trillion. Evaluate the effects of the growth of trading blocs such as the TFTA on global trading patterns. (June 2019)

Japan’s budget deficit for 2017/18 is expected to be 4.6% of GDP. Its national debt is forecast to increase to above 250% of GDP by 2019. Evaluate the impact of a large fiscal deficit and national debt on a country’s economy. (June 2019)

In 2018, the United States Government cut the corporation tax rate (tax on company profits) from 35% to 21%. Income tax rates for US citizens were also reduced: for example, the top rate of income tax was cut from 39.6% to 37%. Evaluate the likely impact of cutting tax rates as a policy to increase economic growth. (June 2020)

In terms of income distribution and wealth distribution Brazil is one of the most unequal countries in the world. Its income Gini coefficient is 0.449 and it is ranked number 2 in the world for its wealth inequality. Evaluate possible economic causes of income and wealth inequalities within a country such as Brazil. (June 2020)

The European Central Bank introduced a new round of quantitative easing (QE) in March 2020, purchasing up to €750 billion of assets. The objective of this QE was to reduce the serious risks to the effectiveness of monetary policy resulting from a significant recession. The European Central Bank’s target for inflation remains at ‘below but close to 2%’. Evaluate the effectiveness of quantitative easing during ‘a significant recession’. (June 2021)

It has been estimated that if climate change led to the world’s temperature rising 2.5°C compared to the temperature in 2010, then global GDP per capita would be 15% lower by 2100. If temperatures rise by 4°C compared to the temperature in 2010, then by 2100 global GDP per capita would decline by more than 30%.. Evaluate the potential trade-offs between environmental protection and other macroeconomic objectives. (June 2021)

Both China and the United States have been gradually increasing the tariffs imposed on each other’s exports as their trade dispute continues. The IMF estimated that the trade dispute between China and the United States would reduce global GDP growth by 0.8 percentage points by the end of 2020. Evaluate the likely impact of an increase in protectionism on the global economy. (June 2022)

With global economic growth slowing and inequality rising, the case against globalisation is strengthening. But there are also many benefits to globalisation. Global trade and international trade agreements allow countries to focus on their strengths and share expertise, as well as reducing risk through diversification. Evaluate the likely impact of globalisation on the global economy. (June 2022)

In 2012, it was estimated that Japan’s national debt was equal to 214.3% of its GDP, and Greece’s national debt was equal to 161.3% of its GDP. Evaluate the likely impact of measures which a government could take to reduce the economy’s national debt. Refer to a developed economy of your choice in your answer. (Specimen)

Over the past 25 years, income inequality has been increasing in many developed countries. For example, from 2007 to 2011 Spain’s Gini coefficient rose by 6.0 percentage points, and Ireland’s by 6.6 percentage points. Evaluate the factors which may have caused this increase in income inequality. Refer to a developed economy of your choice in your answer. (Specimen)

With reference to the information provided and your own knowledge, evaluate the microeconomic and macroeconomic effects of policies that could be used to stimulate economic growth and development in Chile. (June 2017)

With reference to the information provided and your own knowledge, evaluate the microeconomic and macroeconomic impact on Chile’s economy of changes in the level of investment. (June 2017)

With reference to the information provided and your own knowledge, evaluate the likely microeconomic and macroeconomic influences on the UK’s international competitiveness. (June 2017)

With reference to the information provided and your own knowledge, evaluate the microeconomic and macroeconomic effects of a government policy of cutting public expenditure rather than raising taxes as a means of reducing a fiscal deficit. (June 2017)

Evaluate the microeconomic and macroeconomic factors that may influence Starbucks’ decision whether to expand in a particular country. (June 2018)

With reference to the information provided and your own knowledge, evaluate the microeconomic and macroeconomic effects of increased UK demand for coffee at branded coffee shops. (June 2018)

With reference to the information provided and your own knowledge, evaluate the microeconomic and macroeconomic effects on Indonesia of the volatility of prices of commodities such as coal. (June 2018)

Evaluate the likely microeconomic and macroeconomic effects of the supply-side policies recently introduced in Indonesia. (June 2018)

Evaluate the microeconomic and macroeconomic effects of increased government spending on education to promote healthy eating in the UK. (June 2019)

Evaluate the likely microeconomic and macroeconomic effects of imposing a tax on HFSS foods. (June 2019)

Evaluate the microeconomic and macroeconomic factors, apart from access to credit and banking, influencing growth and development in Mozambique. (June 2019)

Evaluate the likely microeconomic and macroeconomic effects of relatively high inflation rates in many African countries. (June 2019)

Evaluate the likely microeconomic and macroeconomic effects of a rise in interest rates in Turkey. (June 2020)

Evaluate the microeconomic and macroeconomic impact of large infrastructure projects such as the building of a third airport in Istanbul. (June 2020)

Evaluate possible microeconomic and macroeconomic policies which could be used to improve UK competitiveness. (June 2020)

Evaluate the microeconomic and macroeconomic effects of a decline in the literacy and numeracy skills of a country’s young workers. (June 2020)

Evaluate the microeconomic and macroeconomic factors which determine the number of firms in an industry. Refer to HCWs or another industry of your choice. (June 2021)

Evaluate the microeconomic and macroeconomic effects of increased government intervention in an industry. Refer to HCWs or another industry of your choice. (June 2021)

Evaluate the microeconomic and macroeconomic factors which are likely to determine the rate of economic growth in Germany relative to other developed economies. (June 2021)

Evaluate the microeconomic and macroeconomic impacts of ‘a much more expansionary fiscal policy’ (Extract C line 23) on the German economy. (June 2021)

Evaluate the microeconomic and macroeconomic effects of a depreciation of the pound. Refer to restaurants or other food delivery services in your answer. (June 2022)

Evaluate the microeconomic and macroeconomic effects of significant increases in the minimum wage. Refer to restaurants or other food delivery services in your answer. (June 2022)

Evaluate the microeconomic and macroeconomic effects of decreasing interest rates in Kenya, or another developing country of your choice. (June 2022)

Evaluate the microeconomic and macroeconomic strategies that could be used to promote development in Kenya, or another developing country of your choice. (June 2022)

With reference to the information provided and your own knowledge, evaluate the possible microeconomic and macroeconomic effects on the UK economy of a decision by the government to encourage fracking. (Specimen)

With reference to the information provided and your own knowledge, evaluate the possible microeconomic and macroeconomic effects on the global economy of lower energy prices. (Specimen)

With reference to the information provided and your own knowledge, evaluate the likely microeconomic and macroeconomic effects of the imposition of ‘price controls’ (Extract E, line 8) in Argentina. (Specimen)

With reference to the information provided and your own knowledge, evaluate the likely microeconomic and macroeconomic effects of the 23% devaluation of the Argentine peso. (Specimen)

Edexcel A Level Economics A Revision Notes

Concise resources for the Edexcel A Level Economics A course.

1. Introduction to Markets & Market Failure

2. the uk economy – performance & policies, 3. business behaviour & the labour market, 4. a global perspective.

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Edexcel Economics A-level: Theme 2 Essay Plans/Exam Responses

Subject: Economics

Age range: 16+

Resource type: Assessment and revision

Last updated

23 February 2020

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This document contains concise, specific exam questions, focused to multiple topics of theme 2, which are also applicable to multiple higher mark questions in section B. These plans are theory or article-driven, and will gurantee an A grade in AS Macroeconomics exam for Edexcel. The exam plans are used as an example to show students how concise answers can be in economics, and how specific mark schemes are for a category of questions. These Plans Cover:

Objectives Policies Conflicts

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Edexcel Economics Year 1: FULL A GRADE REVISION GUIDE

These documents on AS level economics for Edexcel Economics A, are invaluable and helping you attain top grades in your first year of a levels (year 12) exams. These are broad, focusing on every aspect of the specification (in notes), this is specifically outlined in the Theme 2 Notes, where every objective of the specification from Edexcel Exam Board, is explicitly stated and a concise and convincing response (without the long, waffly details, is presented). Furthermore, I have also included essay plans and exam responses for both theme 1 and 2, to give students a live example of what mark schemes demand as a high quality answer or more compelling analysis in terms of responses given by students, along with Mark Scheme definitions, to save time with memorising long-winded key terms. Moreover, I have also provided detailed essay plans for both Theme 1 and 2, with at least 10 essay plan per theme, focusing on a broad range of questions within the unit. Lastly, I have provided some exam structure and logistics, to provide tips on multiple, potential ways examiners may review questions.

Edexcel Economics A: Paper 1-3 AS/A-Level ESSAY PLANS

Essay Plans for Edexcel Economics A AS and A-level 2015: Theme 1 Theme 2 Theme 3 Theme 4 Macro & Micro Essay Plans Covers all/most topics in the specification

Edexcel Economics A: Macroeconomics Bundle

This is a collation of notes that helped me achieve an A* in Paper 2. These notes include all the content for Theme 2 & 4 For Edexcel Economics A * This contains: Detailed specification Notes Detailed comprehensive essay plans for all topics for macroeconomics Challenging topics addressed in critical detail for theme 4. Developing country analysis for Theme 4, which serves specifically useful for developing economies essays. The chosen country is Nigeria, with some additional information on the UK, Germany and China for extra economic application to similar essays.

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lizrose0131

The document is decent if you want to able to achieve a low b/a but for people who need extra assistance, it is difficult to be able to provide this extra context and to follow the structure to achieve this grade or the grade around this.

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