My first year 12 eco exam is in less than 2 weeks, on topic 1 the global economy. its 45 min short answer only, and we're allowed to bring 2 pages into the exam room. I also just recently got the pearson eco y12 textbook. I would REALLY appreciate help from anyone on: how to prepare, what to write on the 2 pages, and any other general help. below is the info section from the assessment notification:
Description of the task:
This task is based on research into the operation of the global economy and the impact of globalisation on economies.
To help you we suggest that you use 2024 The Global Economy Booklet Part 1 in Moodle and work through the study guide, ensuring you update relevant information. Do not confine your research to your textbook. Ensure you have updated data.
You will then complete a 45-minute short answer task based on your research.
You will have 5 minutes to plan your answers at the start of the task.
You may bring in TWO pages of HANDWRITTEN notes on the paper provided. (i.e. ONE sheet of paper, front and back)
Only ONE LINE OF WRITING PER LINE SPACE is allowed, i.e. you CANNOT have multiple lines of writing within each line space. These will be checked before / during the assessment task.
Notes must be in POINT FORM. No pre-written paragraphs.
Any handwritten notes that do NOT comply with these instructions will be taken from you and you will not have access to your notes during the task.
All handwritten notes are to be submitted on the day of the task.
Content area covered in Research Task 1-The Global Economy
International economic integration
• the global economy
• Gross World Product
• globalisation
– trade in goods and services
financial flows
– investment and transnational corporations
– technology, transport and communication
– international division of labour, migration
• the international and regional business cycles
Trade, financial flows and foreign investment
• the basis of free trade – its advantages and disadvantages
• role of international organisations – WTO, IMF, World Bank, United Nations, OECD
• influence of government economic forums – G20, G7/8
• trading blocs, monetary unions and free trade agreements
– advantages and disadvantages of multilateral (EU, APEC, USMCA, ASEAN) and bilateral agreements
NOTE:
Description of the task:
- Research Task – The Global Economy
- 45 minutes + 5 minutes planning time
- Short answers – total 25 marks
This task is based on research into the operation of the global economy and the impact of globalisation on economies.
To help you we suggest that you use 2024 The Global Economy Booklet Part 1 in Moodle and work through the study guide, ensuring you update relevant information. Do not confine your research to your textbook. Ensure you have updated data.
You will then complete a 45-minute short answer task based on your research.
You will have 5 minutes to plan your answers at the start of the task.
You may bring in TWO pages of HANDWRITTEN notes on the paper provided. (i.e. ONE sheet of paper, front and back)
Only ONE LINE OF WRITING PER LINE SPACE is allowed, i.e. you CANNOT have multiple lines of writing within each line space. These will be checked before / during the assessment task.
Notes must be in POINT FORM. No pre-written paragraphs.
Any handwritten notes that do NOT comply with these instructions will be taken from you and you will not have access to your notes during the task.
All handwritten notes are to be submitted on the day of the task.
Content area covered in Research Task 1-The Global Economy
International economic integration
• the global economy
• Gross World Product
• globalisation
– trade in goods and services
financial flows
– investment and transnational corporations
– technology, transport and communication
– international division of labour, migration
• the international and regional business cycles
Trade, financial flows and foreign investment
• the basis of free trade – its advantages and disadvantages
• role of international organisations – WTO, IMF, World Bank, United Nations, OECD
• influence of government economic forums – G20, G7/8
• trading blocs, monetary unions and free trade agreements
– advantages and disadvantages of multilateral (EU, APEC, USMCA, ASEAN) and bilateral agreements
NOTE:
- You do NOT have to prepare a specific country case study for this task. We will undertake a specific country case study later in the course.
