NOV11 Economics HL Paper 1 & 2

[joannac]

Hey y'all

what did you guys think about the papers? I think it was alright, not as hard as i thought, I'm a HL student.

good luck with the rest! im 5 down 1 to go

[Matthew Sinclair]

Yeah P1 and P2 were pretty good! Especially paper 1! It was so much better than the N09 paper we did for mocks!!

I really wasn't expecting a question on externalities in paper 1 though. I wrote heaps about it I think, but one of my 'policies' to fix the externality was poorly explained Slash my example may have been wrong haha. The rest was good though.

I loved question 1 of P2!!! That was such a good question and I had revised it just recently I did questions 1, 2, 6. Question 2 was pretty good, just don't know how 'clear' my explanation was. Question 6 was good, I just was all over the place with my structuring!!

Overall, P1 + P2 were quite nice and could have been a lot worse.

Which questions did you do??

[joannac]

Haha really? why wouldn't expect a question on externalities for paper 1 i chose the first one, market failure and talked about negative externalities on production/consumption, and b about taxing the firm/banning it/tradable emission permits yeah?

for paper 2 i did one on comparative, market structure (perfect competition/monopolistic) and the neo-classical with an increased in demand! how did paper 3 go with u? : )

seriously my teacher said there must be something on monetary/fiscal policies and there were like none! and i was expecting something from BOP, TOT... lol im just happy that its not on there !

Yeah P1 and P2 were pretty good! Especially paper 1! It was so much better than the N09 paper we did for mocks!!

I really wasn't expecting a question on externalities in paper 1 though. I wrote heaps about it I think, but one of my 'policies' to fix the externality was poorly explained Slash my example may have been wrong haha. The rest was good though.

I loved question 1 of P2!!! That was such a good question and I had revised it just recently I did questions 1, 2, 6. Question 2 was pretty good, just don't know how 'clear' my explanation was. Question 6 was good, I just was all over the place with my structuring!!

Overall, P1 + P2 were quite nice and could have been a lot worse.

Which questions did you do??

[Matthew Sinclair]

I think we should wait a little bit more before discussing P3 just to be safe =)

It's just I have like never seen a P1 question on externalities. But there you go!

I only did the diagram for production and then explained consumption in a second paragraph to save time haha.

My policies were 'tradeable permits', 'taxation', and 'property rights', I think I did really well with the first two, just the property rights one was a stupid choice on my behalf. Hopefully it won't affect my grade too much though.

I think there was a BOP question in paper 1. I think it was either question 2 or 3? It would have lended itself to discuss marshal lerner and J curve from what I remember. I liked that question for part a, just not b, so I didn't do it.

Yeah, I'm so happy there wasn't any TOT!!! I would've been screwed!! I really wanted some laffer curve, phillips curve, J curve, Lorenz curve, or theory of the firm costs and structures for paper 2. If those were the question choices I would have been so thrilled! They're my favourites

I think part of one of the questions had something to do with mon/fiscal policy. Wait, it was demand/supply side and taxation I think so that encorportes it.

Our teacher said we could just not bother with development revision if we wanted. That's such bad advice in my opinion. So I made sure I studied it! =D All the revision guides tell you not to ignore one section because they'll make sure you get tested on it, or at least make it hard to avoid.

[Xelar]

I thought it was really easy compared to all the past exams I've looked at! I got away with not studying any development with no problems.

I also did the market failure question on paper 1 I was really hoping for a theory of the firm one but this was a good second alternative. I talked about legislation/taxing/tradeable emissions scheme.

Paper 2 I answered 1, 2 and 4 I think. I made up a real world example of comparative advantage, so I'm hoping that the Ukraine has a comparative advantage in the production of wheat.

I was also really ecstatic that there was no terms of trade!! i just gave up trying to learn it because I didn't get it.

[pfmih1000]

can we discuss paper 3 now?

hmmm i loved the questions on ppr 2! i did 1,2 and 3... (giffen/veblen goods, neoclassical d/s graph andd the one about the demand curves of perfect competition and monopolistic competition).

i chose question 2 on paper1 though, the one about supply side policies blahblah. i realized later that i shld have done question 1 (externalities) :''(

im so gladddddd that there were very few questions from section 5! i had checked 2 or 3 definitions 30 min before the exam. )

[Matthew Sinclair]

can we discuss paper 3 now?

hmmm i loved the questions on ppr 2! i did 1,2 and 3... (giffen/veblen goods, neoclassical d/s graph andd the one about the demand curves of perfect competition and monopolistic competition).

i chose question 2 on paper1 though, the one about supply side policies blahblah. i realized later that i shld have done question 1 (externalities) :''(

im so gladddddd that there were very few questions from section 5! i had checked 2 or 3 definitions 30 min before the exam. )

I'd say so. Start a new forum with Eco HL P3 as the title and see if it gets approved. I have a lot of complaining about P3 to do

[mightymidget]

Paper 1 is gooood! the externalities!

Paper 2 was okay, but i liked paper 1 better!

i was struggling between the development question and the comparative advanatge question

[Natalie93]

Skipping studying development is terrible advice, any teacher who says that is being very silly. Development is always Question 4 of Paper 1, Question 6 of Paper 2 and Question 5 of Paper 3. If anything, you should study it more since it's the only thing that's guaranteed to be on the exam: the IB loves the idea of development and world unity.

Paper 1 was a nice paper. I too was surprised at the externalities question, but my teacher told us that the IB does like to put it in every 4 or 5 years, and I guess they chose us! I didn't do that question, however, I picked number 3. It wasn't about BOP, it was about exchange rates, but it did allude to BOP.

Paper 2 was a bit odd, but bearable. I thought that the question about the AD shifting on the classical diagram was a very easy question, but the rest were average in difficulty. I honestly don't remember the numbers, but I did the Perfect Competition vs. Monopolistic Competition demand curve shapes, AD on the classical diagram, and the multiplier.