a level economics model essay

A-Level Economics Model Answers (for Edexcel Past Papers)

Download A-Level Economics Model Answers for Edexcel past papers below for A2 and AS. These candidate responses were extracted from Edexcel exam board’s examiners’ reports and were graded by Edexcel examiners. All new specification Economics papers and their model answers are now available including Paper 1 (Microeconomics), Paper 2 (Macroeconomics) and Paper 3 (Synoptic).

Relevant resources: Download Edexcel A2 Economics past papers for students studying A2 Economics in their second year. Download Edexcel AS Economics past papers for students studying AS Economics in their first year. Visit our Edexcel Economics notes & questions by topic for practicing and revising certain areas of the course.

Economics Model Answers for A2 (Year 2)

Edexcel 2018 Economics A Paper 1 Model Answers Download

Edexcel 2018 Economics A Paper 2 Model Answers Download

Edexcel 2017 Economics A Paper 1 Model Answers Download

Edexcel 2017 Economics A Paper 2 Model Answers Download

Economics Model Answers for AS (Year 1)

Edexcel 2018 AS Economics A Paper 1 Model Answers Download

Edexcel 2017 AS Economics A Paper 1 Model Answers Download

Edexcel 2016 AS Economics A Paper 1 Model Answers Download

Need help with these Edexcel Economics past papers? Ask our Economics Tutor a free question or get a personalised 1 to 1 online lesson with us today. Alternatively, check out our Edexcel Economics revision notes to refresh your memory.

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Looking for the full version of the Examiner Reports and more? You can find more Economics past papers and mark schemes on Edexcel’s resource page . Copyright for these examination papers belongs to their respective examination boards but not Qurious Education Ltd.

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Economics: Model Essays (Second Edition)

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A-Level Economics Resources

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Paid resources for Economics A Level – Edexcel A and AQA

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Edexcel economics a style model answers and skills.

• Edexcel A essay structures for each essay .
• 25 marker model answer [tariffs].
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• 15 marker model answer [tradable pollution permits].
• 12 marker model answer [fall in private sector investment].
• 8 marker model answer [externalities in coal].
• Edexcel Economics A Paper 1 style current affairs practice questions and final tips (2024 edition)
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• Edexcel Economics Paper 3: All you need to know .
• How to evaluate for Edexcel A-level Economics: 14 Points + Examples

AQA Economics style model answers and skills

• 25 marker essay structure
• 25 marker model answer [increasing corporation tax rates].
• 9 marker model answer [pollution and market failure].
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• Sample essay question and mark scheme – in the style of Paper 1 AQA Economics: microeconomics .
• Sample essay question and mark scheme – in the style of Paper 2 AQA Economics: macroeconomics .
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I have written these notes in the style of the AQA Economics syllabus. But they are also suitable for other courses:

IB Economics Articles

• Example 15 mark question and response in style of IB Economics Paper 1
• 10 mark Paper 1 IB Economics style sample answer to part (a)
• Example 10 mark question and response: IB Economics Paper 3 style
• How to achieve a 7 in IB Economics HL: 10 key tips .
• 12 x 15 mark question model answers | IB Economics paper 1 style | Microeconomics .
• 12 x 15 mark question model answers | IB Economics paper 1 style | Macroeconomics and the global economy
• Top Resources for IB Economics .
• Trading Economics – an external webpage with statistics about various economies including the UK economy. Good for scoring high on application for the AQA and Edexcel exam boards.
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A Level Econs Model Essay: Macroeconomic Aims, Issues And Policies

Examine the impact of a weakening currency on a country’s economic performance.

• For greater relevance, the response to this answer considered recent economic conditions (i.e. from 2008-2012). We continue to discuss the case of a weakening exchange rate, although we argue towards the end of the essay that the Sing dollar had in fact been gaining strength in recent times. Recent macroeconomic problems may or may not be attributed to changes in the value of the exchange rate.

In recent years, Singapore had to tackle the twin threats of inflation and a global economic slowdown . The root causes of such problems are largely external in nature and cannot be attributed to a weakening of the Sing dollar. However, a weakening of the Sing dollar to boost economic growth may aggravate imported inflation in the country. Furthermore, recent quantitative easing efforts in US have led to pressure on the Sing dollar to appreciate, which may create other macroeconomic problems as well.

Due to the lingering effects of the US financial crisis and the onset of the Eurozone debt crisis, global incomes have been falling. This has resulted in falling purchasing power which triggers a fall in demand for Singapore exports , assuming that the country exports normal goods. The fall in net exports (X-M) from Singapore’s perspective leads to a fall in aggregate demand (AD) and a multiplied fall in national income through the reverse multiplier process. The fall in AD is aggravated by a fall in foreign direct investments since Western investors may need to preserve capital to tackle financial problems in their home countries.

As shown in Fig.1 below, a fall in AD from AD 1 to AD 2 leads to a multiplied fall in real GDP from Y 1 to Y 2 . Given that demand for labour is derived from the demand for goods and services which the hired labour is used to produce, the decrease in actual growth also leads to a rise in cyclical unemployment (demand-deficient unemployment). In addition, potential growth may slow down with lower levels of FDI entering the country.

Notwithstanding the small size of Singapore’s multiplier, the fall in external demand is likely to hit Singapore especially hard, given that domestic demand is small and the country is largely reliant on exports for growth. In addition, Singapore’s balance of payments (BOP) will be adversely affected by the global slowdown. The BOP refers to the record of transactions between a country and the rest of the world over a period of time, and consists mainly of the current account and the capital account. A fall in net exports leads to a deterioration in the current account while a slowdown in FDI worsens the capital account.

While the above macroeconomic problems are due to external circumstances and are not triggered by exchange rate changes, a weakening of the exchange rate can in fact alleviate these macroeconomic problems. While Singapore generally focuses on maintaining a strong currency to mitigate imported inflation, during times of severe recessions, the central bank may maintain a zero-appreciation stance or depreciate the exchange rate slightly to boost net exports. For example, in the wake of the US financial crisis in early 2009, the MAS allowed a depreciation of the currency by about 2% in order to prop up external demand. By depreciating Singapore’s exchange rate, the price of Singapore’s exports in foreign currency will be relatively cheaper while the price of imports will be relatively higher in domestic currency. Assuming Marshall Lerner’s condition holds, where |PED X +PED M |>1, net exports (X-M) rises. This results in a significant increase in AD which results in an improvement in actual growth and a reduction in cyclical unemployment.

As shown in Fig.2, an increase in net exports will lead to an increase in AD from AD 1 to AD 2 . There is also a multiplied increase in national income from Y 1 to Y 2 , signifying actual growth. Given that demand for labour is derived from the demand for goods and services which the hired labour is used to produce, the increase in real output within the economy also leads to a fall in cyclical unemployment. In addition, the BOP position will also improve (through the current account) with a rise in net exports.

However, there is still a limit to which the central bank can rely on a weak currency to stimulate AD without triggering other macroeconomic problems. With a weaker currency, the price of imported raw materials and finished products will increase in local currency. This can lead to lead to imported inflation, which is a form of cost-push inflation which occurs when the cost of production rises in the economy, independent of aggregate demand (AD). Coupled with instability in the Middle East in recent years which has disrupted the global supply of oil, significant inflationary pressures will be generated in Singapore. The rising cost of production can in turn lower export price competitiveness and offset any gains in export sales due to a weaker currency.

Fig.3: Imported inflation

Diagrammatically, this is represented in Fig.3 as an upward shift in aggregate supply (AS) from AS 1 to AS 2 . Given an unchanged level of aggregate demand, firms will raise prices in line with an increase in production costs, leading to a rise in general price level (GPL) from P 1 to P 2 .

Nonetheless, in recent years, the general price level in Singapore has been driven up by a number of domestic pockets of inflation, which are not related to the strength of the Sing dollar. For example, accommodation prices have spiked recently in Singapore due to a combination of factors. First, the low interest rate environment in Singapore has encouraged consumers to borrow to invest in housing. In addition, quantitative easing measures in US have resulted in flows of hot money into Singapore. Some of these funds are directed into property investments, fuelling higher housing prices. Aside from accommodation costs, private transport cost in Singapore has also been rising largely due to the increase in Certificate of Entitlement (COE) premiums as a result of the lower supply of new COE quotas. This is reflective of the government’s efforts to reduce car ownership and tackle congestion on Singapore’s roads.

Separately, instead of depreciating, the Sing dollar has been gaining strength in recent years, which has created other macroeconomic problems. This is a result of hot money inflows arising from quantitative easing measures being undertaken in US. Given the rate at which money supply is increased in the US (US$85bn per month), hot money has been flowing into Singapore in search of better returns. Some of this hot money is directed into property investments while others may flow into the equity market. Aside from causing asset price inflation as discussed earlier, the inflow of hot money results in higher demand for Sing dollar and may result in an appreciation of the currency.

An appreciation of the Sing dollar may then result in a contractionary effect on the Singapore economy. This is because with an appreciation of the currency, the price of exports increases in foreign currency while the price of imports decreases in local currency. This leads to a fall in the quantity demanded of exports and a rise in the quantity demanded of imports. Assuming the Marshall Lerner condition, net export earnings (X-M) fall overall. This leads to a multiplied decrease in national income, which reduces actual growth and increases cyclical unemployment. As mentioned earlier, the effects on the Singapore economy will be significant given its reliance on exports for growth.

In conclusion, the recent macroeconomic problems faced by Singapore are not a direct result of the weaker Sing dollar. However, it is undeniable that efforts to slow down the appreciation of the Sing dollar or the slight depreciation undertaken in 2009 in order to boost net exports have contributed to higher imported inflation in Singapore. In addition, the recent appreciation of the Sing dollar arising from quantitative easing in the US has also contributed to other macroeconomic problems for Singapore. Nonetheless, we note that any movement in the value of the Sing dollar is likely to be controlled. This is because Singapore maintains a managed float exchange rate system, where the Sing dollar is managed against a trade-weighted basket of currencies of Singapore’s major trading partners, and is allowed to float freely within a policy band. Hence, if the Sing dollar exceeds the upper or lower bound of the policy band, MAS will intervene by buying or selling foreign currency to influence the value of Sing dollar. This ensures that the value of the Sing dollar remains within the policy band, and any impact on export price-competitiveness or import prices will be limited.

Want to learn how to write excellent essays like this one?  Sign up for Mr Koh’s Economics Tuition classes.  Mr Koh teaches clarity of concept and more importantly how to apply them into the A levels economics exam.  With his classes and economics study materials, you will be sure to achieve the Economics grade you desire.

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Tips for writing economics essays

Some tips for writing economics essays  Includes how to answer the question, including right diagrams and evaluation – primarily designed for A Level students.

1. Understand the question

Make sure you understand the essential point of the question. If appropriate, you could try and rephrase the question into a simpler version.

For example:

Q. Examine the macroeconomic implications of a significant fall in UK House prices, combined with a simultaneous loosening of Monetary Policy.

In plain English.

• Discuss the effect of falling house prices on the economy
• Discuss the effect of falling interest rates (loose monetary policy) on economy

In effect, there are two distinct parts to this question. It is a valid response, to deal with each separately, before considering both together.

It helps to keep reminding yourself of the question as you answer. Sometimes candidates start off well, but towards the end forget what the question was. Bear in mind, failure to answer the question can lead to a very low mark.

2. Write in simple sentences

For clarity of thought, it is usually best for students to write short sentences. The main thing is to avoid combining too many ideas into one sentence. If you write in short sentences, it may sound a little stilted; but it is worth remembering that there are no extra marks for a Shakespearian grasp of English. (at least in Economics Exams)

Look at this response to a question:

Q. What is the impact of higher interest rates?

Higher interest rates increase the cost of borrowing. As a result, those with mortgages will have lower disposable income. Also, consumers have less incentive to borrow and spend on credit cards. Therefore consumption will be lower. This fall in consumption will cause a fall in Aggregate Demand and therefore lead to lower economic growth. A fall in AD will also reduce inflation.

I could have combined 1 or 2 sentences together, but here I wanted to show that short sentences can aid clarity of thought. Nothing is wasted in the above example.

Simple sentences help you to focus on one thing at once, which is another important tip.

3. Answer the question

Quite frequently, when marking economic essays, you see a candidate who has a reasonable knowledge of economics, but unfortunately does not answer the question. Therefore, as a result, they can get zero for a question. It may seem harsh, but if you don’t answer the question, the examiner can’t give any marks.

At the end of each paragraph you can ask yourself; how does this paragraph answer the question? If necessary, you can write a one-sentence summary, which directly answers the question. Don’t wait until the end of the essay to realise you have answered a different question.

Discuss the impact of Euro membership on UK fiscal and monetary policy?

Most students will have revised a question on: “The benefits and costs of the Euro. Therefore, as soon as they see the Euro in the title, they put down all their notes on the benefits and costs of the Euro. However, this question is quite specific; it only wishes to know the impact on fiscal and monetary policy.

The “joke” goes, put 10 economists in a room and you will get 11 different answers. Why? you may ask. The nature of economics is that quite often there is no “right” answer. It is important that we always consider other points of view, and discuss various different, potential outcomes. This is what we mean by evaluation.

Macro-evaluation

• Depends on the state of the economy – full capacity or recession?
• Time lags – it may take 18 months for interest rates to have an effect
• Depends on other variables in the economy . Higher investment could be offset by fall in consumer spending.
• The significance of factors . A fall in exports to the US is only a small proportion of UK AD. However, a recession in Europe is more significant because 50% of UK exports go to EU.
• Consider the impact on all macroeconomic objectives . For example, higher interest rates may reduce inflation, but what about economic growth, unemployment, current account and balance of payments?
• Consider both the supply and demand side . For example, expansionary fiscal policy can help to reduce demand-deficient unemployment, however, it will be ineffective in solving demand-side unemployment (e.g. structural unemployment)

Example question :

The effect of raising interest rates will reduce consumer spending.

• However , if confidence is high, higher interest rates may not actually discourage consumer spending.

If the economy is close to full capacity a rise in interest rates may reduce inflation but not reduce growth. (AD falls from AD1 to AD2)

• However , if there is already a slowdown in the economy, rising interest rates may cause a recession. (AD3 to AD3)

Micro-evaluation

1. The impact depends on elasticity of demand

In both diagrams, we place the same tax on the good, causing supply to shift to the left.

• When demand is price inelastic, the tax causes only a small fall in demand.
• If demand is price elastic, the tax causes a bigger percentage fall in demand.

2. Time lag

In the short term, demand for petrol is likely to be price inelastic. However, over time, consumers may find alternatives, e.g. they buy electric cars. In the short-term, investment will not increase capacity, but over time, it may help to increase a firms profitability. Time lags.

3. Depends on market structure

If markets are competitive, then we can expect prices to remain low. However, if a firm has monopoly power, then we can expect higher prices.

4. Depends on business objectives

If a firm is seeking to maximise profits, we can expect prices to rise. However, if a firm is seeking to maximise market share, it may seek to cut prices – even if it means less profit.

5. Behavioural economics

In economics, we usually assume individuals are rational and seeking to maximise their utility. However, in the real world, people are subject to bias and may not meet expectations of classical economic theory. For example, the present-bias suggest consumers will give much higher weighting to present levels of happiness and ignore future costs. This may explain over-consumption of demerit goods and under-consumption of merit goods. See: behavioural economics

Exam tips for economics – Comprehensive e-book guide for just £5

9 thoughts on “Tips for writing economics essays”

I really want to know the difference between discussion questions and analysis questions and how to answer them in a correct way to get good credit in Economics

Analysis just involves one sided answers while Discussion questions involve using two points of view

This is a great lesson learnd by me

how can I actually manage my time

The evaluation points in this article are really useful! The thing I struggle with is analysis and application. I have all the knowledge and I have learnt the evaluation points like J-curve analysis and marshall learner condition, but my chains of reasoning are not good enough. I will try the shorter sentences recommended in this article.

What kind of method for costing analysis is most suitable for a craft brewery, in order to analyze the cost of production of different types of beer_

Really useful!Especially for the CIE exam papers

Does anyone know how to evaluate in those advantages/disadvantages essay questions where you would basically analyse the benefits of something and then evaluate? Struggling because wouldn’t the evaluation just be the disadvantages ?? Like how would you evaluate without just stating the disadvantage?

This is an excellent source of adbvise

Leave a comment Cancel reply

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AQA Economics A-Level (A* Notes, Essay Examples and Plans)

Last updated

24 April 2023

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Resources included (15)

AQA Economics A-level: example 25 mark essays (A* grade)

AQA Economics A-level: Synoptic paper practice questions

AQA Economics A-level: International Economy

AQA Economics A-level: Fiscal and supply-side policies

AQA Economics A-level: Financial Markets

AQA Economics A-level: Economic performance (macro)

AQA Economics A-Level: Aggregate demand and aggregate supply

Economics A-level: Macroeconomic performance

Economics A-level: Market mechanism, market failure and government intervention

Economics A-level: Income and wealth

Economics A-level: Labour market supply and demand

Economics A-level: Market structures

A-level Economics: Production and Productivity

Supply and demand in competitive markets

Economic methodology and the economic problem

AQA Economics A-level: specification 7135, 7136 *I sat my Economics exam in summer 2018 and achieved A star grades across all three papers. Here is a bundle of all my content/theory notes and 25 mark essay examples and plans!

Paper 1 - Micro

• Economic Problem and Methodology
• Supply and Demand
• Production, Costs and Revenue
• Market Structure
• Labour Market
• Income and Wealth
• Market Mechanism, Market Failure and Government Intervention

Paper 2 - Macro

• Macroeconomic performance
• Aggregate Demand and Aggregate Supply
• Economic Performance
• Financial Markets
• Fiscal and Supply Side
• International Economy

Paper 3 - Synoptic

Synoptic practice questions

AND * A Example 25 mark essays and practice questions covering: **

Includes 25 mark essays:

• Assess whether you agree that governments should subsidize companies who are developing cars which run on clean fuels such as hydrogen (25 marks)
• Assess whether you agree that the government should give financial assistance to firms producing cars in the UK to increase their competitiveness (25 marks)
• Assess whether you agree that the implementation of pollution permits could play a role in reducing global warming (25 marks)
• Discuss the view that falling unemployment will inevitably lead to trade-offs with other macroeconomic policy objectives (25 marks)
• Evaluate policies that the government could use to reduce obesity, referring to classical solutions such as taxes, subsidies and regulations, and behavioural solutions such as nudges and default choice (25 marks)
• Using your knowledge of behavioural economics and neoclassical economics, evaluate the possible policies that could be used to reduce congestion in the UK’s cities. (25 marks)
• Evaluate the view that imposing a tax is the most effective government policy for reducing the market failure arising from overconsumption of unhealthy food and drink (25 marks)
• Using the extracts and your economic knowledge, assess whether you agree that fixing a maximum price for energy that is sold households is the best way of dealing with market failure in the UK energy industry (25 marks)
• Using the extracts and your economic knowledge, assess the view that inequality is ‘good for us all’ (25 marks)

9 and 15 mark essays:

• With the help of a diagram, explain how export subsidies may help promote economic growth in India (9 marks)
• Explain how government policies can reduce the natural rate of unemployment (15 marks)
• Explain why, in a free market, sugary drinks may be overconsumed (15 marks)
• To what extent do you agree that expansionary monetary policy is always effective in creating economic growth? (25 marks)

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2018 Practice Essays for A Level Economics

3rd May 2018

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At this time of year lots of teachers work feverishly through essay plans as a way of revising core content and honing those all-important essay exam skills. Here is a selection of micro & macro essay titles that I have been using in class.

Micro Essays

Home ownership has become increasingly difficult to access, particularly for first-time buyers, as house price growth has outstripped growth in wages. Median house prices in England are now 7.7 times higher than median earnings. In London, the ratio can be considerably higher: in Chelsea & Fulham, it is 24.8.

Assess the policies that might be most effective in improving housing affordability in the UK economy (25)

Evaluate the micro and macroeconomic impact of a significant rise in average UK house prices (25) 

Regulation of monopoly 

Using your own knowledge, evaluate the argument that economic welfare can be best promoted through regulation of businesses with monopoly power (25) 

Barriers to entry and profit

Examine the role of barriers to entry in earning economic profit in industries of your choice. (25) 

Contestable markets

Neo-classical theory of competition implies that more firms in a market is the only way to improve outcomes for consumers”. With reference to examples, to what extent do you agree? (25)

Food prices and consumer welfare

Examine the policies a government might use to make food affordable to lower income groups. (25)

Energy market

Evaluate the argument that consumers would benefit from the government imposing a price cap on household energy bills (25)

Plastic pollution, public bads and externalities

Assess the policies that might be most effective in reducing the scale of plastic pollution in the UK and other countries of your choice (25)

Environmental market failure

Discuss the view that the overuse of common access resources is best addressed by government intervention (25)

The Gig Economy

Discuss the impact of the expansion of the gig economy on UK economic performance. (25)

Trade unions in the labour market

Evaluate the possible effects on the UK labour market of a decrease in trade union membership (25)

Discuss the microeconomic and macroeconomic effects of stronger trade unions on the UK economy (25) 

Assess the argument that a universal basic income is likely to be the most effective policy for reducing the scale of income and wealth inequality in the UK (25) 

Evaluate the micro and macroeconomic causes of inequality and poverty in the UK (25)

Essential Revision Resources to Get Before June!

Revision flashcards for a-level economics students.

Resource Collection

Macroeconomics

Globalisation

Evaluate the extent to which globalisation inevitably leads to a rise in income and wealth inequality in one or more countries of your choice (25)

Exchange rates

Using your own knowledge, examine some of the likely macroeconomic effects of a depreciation in the sterling exchange rate (25)

Trade and the European Union

Discuss the likely micro and macroeconomic effects on the UK economy of leaving the EU customs union (25)

Evaluate the view that membership of a customs union has more advantages than disadvantages for an economy. Discuss with reference to any developed or developing country of your choice (25)

Quantitative easing

Using your own knowledge, discuss the impact that quantitative easing has had on UK macroeconomic objectives in recent years (25)

Monetary Policy

Policy interest rates in the UK have been too low for too long and now risk damaging the health of the UK economy. Assess the validity of this view (25)

Development policies

Drawing on knowledge from countries of your choice, evaluate the argument that sustainable development is best achieved by allowing free market forces to allocate resources (25)

Fiscal policy

Since the 2007-08 financial crisis, increases in tax revenues and, to a greater extent, reductions in public spending have contributed to the UK fiscal deficit falling by 7.5 percent of national income by 2016/17. Revenues increased by 1.7 percent of national income and spending decreased by 5.9 percent of national income between 2009/10 and 2016/17.  

Assess the view that the policy of fiscal austerity used by the UK government over recent years has been damaging to the long-term prospects for the UK economy. (25) 

Macroeconomic trade-offs

UK unemployment has fallen to a 45 year low of 4.2% of the labour force, yet CPI inflation remains relatively stable and close to target.

Evaluate the view that, in the case of the UK economy, the standard Phillips Curve trade-off between jobs and prices is no longer valid (25)

European Monetary Union and the EU Economy

To what extent should the Euro Area be considered an optimal currency area? (25)

Discuss the factors that may have contributed to slow economic growth in the European Union (25)

Financial economics

Examine the view that market failure is inevitable in financial markets. Justify your answer with reference to economic theory and evidence (25)

Assess the policies that have been introduced to reduce financial market failures in the UK economy since the Global Financial Crisis. (25)

Evaluate the view that increased regulation of the banking system can be damaging to the competitiveness of an economy. Discuss with reference with countries of your choice. (25) 

Assess the extent to which the financial sector has been responsible for speculative bubbles in one or more countries of your choice. (25)

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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Economics Model Essays

Economics Model Essay 1

(a)   Distinguish between the concepts of price elasticity of demand, income elasticity of demand and cross elasticity of demand. [10] (b)   Discuss the usefulness of the concepts of elasticity of demand to a firm that produces a fashionable product. [15]

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Economics Model Essay 2

After reaching a rate of 8.3 percent in 2010, GDP growth in Asia is projected to average nearly 7 percent in both 2011 and 2012, according to the IMF. However, due to the growing unrest in the Middle East sparked by the Egyptian Revolution that began on 25 January 2011, oil prices have started to rise. Discuss how the market for private cars and its related markets in Asia may be affected by the above events. [25]

Economics Model Essay 3

Findings from a variety of studies show that routine consumption of artificial sweeteners such as aspartame, saccharin and sucralose may lead to higher likelihood of heart disease, stroke, diabetes and high blood pressure. Some countries such as the United States and France have imposed a tax on non-diet soft drinks to fight obesity. A rise in the price of sugar has led to an increase in the demand for artificial sweeteners and this has pushed up the prices.

Discuss how the above events would affect consumer expenditure on diet soft drinks and non-diet soft drinks. [25]

Economics Model Essay 4

The production of petrol should be left to market forces. In spite of this, some governments subsidise petrol while others impose a tax on it. Discuss. [25]

Economics Model Essay 5

Discuss the economic effects of a redirection of government subsidy from petrol to education. [25]

Economics Model Essay 6

Discuss whether an increase in savings in Singapore would lead to problems in the economy. [25]

Economics Model Essay 7

Discuss the view that Singapore has few policies to deal with an external shock. [25]

Economics Model Essay 8

“A fall in the terms of trade is undesirable for the economy.” Discuss the statement. [25]

Economics Model Essay 9

Discuss whether globalisation would benefit firms and households. [25]

Economics Model Essay 10

Discuss whether increasing labour productivity in Singapore would be desirable for the economy. [25]

Economics Model Essay 11

(a)   Explain how the different characteristics of the market structures of monopolistic competition and oligopoly affect pricing and output decisions. [10] (b)   Discuss whether the behaviour of oligopolistic firms is consistent with the objective of profit maximisation. [15]

Economics Model Essay 12

(a)   Explain whether the demand for private cars is elastic or inelastic in Singapore with respect to price and income. [10] (b)   Discuss the effects of a sharp rise in the prices of Certificates of Entitlement in Singapore on expenditure by consumers on different types of cars. [15]

Economics Model Essay 13

(a)   Compare the characteristics of the market structures of monopolistic competition an oligopoly. [10] (b)   Discuss whether firms in a highly competitive market are more vulnerable than firms in a less competitive market in a recession. [15]

Economics Model Essay 14

Discuss whether the concepts of elasticity of demand are useful to the government for discouraging the use of private cars. [25]

Economics Model Essay 15

Discuss whether a shift from reliance on foreign workers to improving labour productivity in Singapore would lead to an increase in international competitiveness. [25]

Economics Model Essay 16

(a)   Explain why the government subsidises education. [10] (b)   Discuss whether a reduction in the subsidy on education is justified. [15]

Economics Model Essay 17

Discuss whether austerity measures in the European Union would adversely affect the Singapore economy. [25]

Economics Model Essay 18

Discuss whether a shift from direct taxes to indirect taxes would improve the current and future standards of living in Singapore. [25]

Economics Model Essay 19

(a)   Explain why Singapore chooses to use the exchange rate rather than interest rates as the policy instrument of its monetary policy. [10]

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Cambridge International AS & A Level Economics: Model Essays

Publisher,Gerak Budaya Publication Date, September 1, 2022 Format, Paperback Weight, 420 g No. of Pages, 312

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Economics: Model Essays Paperback – September 1, 2022

• Print length 312 pages
• Language English
• Publisher Scola Books
• Publication date September 1, 2022
• Grade level 4 - 6
• ISBN-10 9675492783
• ISBN-13 978-9675492785
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• Publisher ‏ : ‎ Scola Books; Second Edition,New edition,Second (September 1, 2022)
• Language ‏ : ‎ English
• Paperback ‏ : ‎ 312 pages
• ISBN-10 ‏ : ‎ 9675492783
• ISBN-13 ‏ : ‎ 978-9675492785
• Grade level ‏ : ‎ 4 - 6
• Item Weight ‏ : ‎ 1.5 pounds
• #5,499 in Children's Money & Saving Reference (Books)

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Economics: Model Essays is tailored to prepare students for Paper 2 and Paper 4 of the 2019-2021 Cambridge International AS & A Level Economics (9708) examination. The model essays are specially written as answers to selected past year questions, and are supported with essay outlines and notes on how students can successfully compose convincing essays.

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