ECONDOCTOR
2022-2023 CAIE A LEVEL ECONOMICS
February 19th, 2023
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A Few Words About Me

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
Montpellier (France)

PhD in Economics (2016)

10 years of teaching experience

Economics Teacher at the University of Montpellier

Founder of EconDoctor
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Content

Content

Assessment structure

Assessment criteria

Diagrams

Presentation

Transitional words and phrases

Planning

Q&A session
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New AS & A Level Economics Syllabus

The content of the AS & A Level Economics syllabus has been updated.

Some new content has been added.

Some content has been removed.

Some content has been moved from AS to A2.

Some content has been moved from A2 to AS.

A chapter entitled International Economic Issues has been added.
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AS LEVEL SYLLABUS
BEFORE 2023
AS LEVEL SYLLABUS
FROM 2023 ONWARDS
1 – Basic Economic Ideas and Resource 1 – Basic Economic Ideas and Resource
Allocation (AS LEVEL)
Allocation
2 – The Price System and the Micro
Economy (AS LEVEL)
2 – The Price System and the Micro
Economy (AS LEVEL)
3 – Government Microeconomic
Intervention (AS LEVEL)
3 – Government Microeconomic
Intervention (AS LEVEL)
4 – The Macroeconomy (AS LEVEL)
4 – The Macroeconomy (AS LEVEL)
5 – Government Macroeconomic
Intervention (AS LEVEL)
5 – Government Macroeconomic
Intervention (AS LEVEL)
6 – International Economic Issues
(AS LEVEL)
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A LEVEL SYLLABUS
BEFORE 2023
A LEVEL SYLLABUS
FROM 2023 ONWARDS
6 – Basic Economic Ideas and
Resource Allocation (A LEVEL)
7 – The Price System and the
Microeconomy (AS LEVEL)
7 – The Price System and the Micro
Economy (A LEVEL)
8 – Government Microeconomic
Intervention (A LEVEL)
8 – Government Microeconomic
Intervention (A LEVEL)
9 – The Macroeconomy (A LEVEL)
9 – The Macroeconomy (A LEVEL)
10 – Government Macroeconomic
Intervention (A LEVEL)
10 – Government Macroeconomic
Intervention (A LEVEL)
11 – International Economic Issues
(A LEVEL)
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AS CONTENT ADDED
AS CONTENT REMOVED
1.3.2 - Difference between human
capital and physical capital
3.1 - Reasons for government intervention in
markets (now a standalone section)
3.2.5 - Buffer stock schemes
3.2.6 - Provision of information
9.4.1 - Definition, functions and
characteristics of money
3.3 - Addressing income and
wealth inequality
11.1 - Policies to correct disequilibrium
in the balance of payments
4.1 - National income statistics
11.2 - Exchange rates
4.2 - Introduction to the circular flow of income
11.6 – Globalisation
4.4 - Economic growth
Nationalisation and Privatisation
4.5 – Unemployment
The Canons of Taxation
5.2.3 - Meaning and significance
of the national debt
Voluntary Export Restraints (VERs)
6.1.4 - Limitations of the theories of
absolute and comparative advantage
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A LEVEL CONTENT ADDED
A LEVEL CONTENT REMOVED
7.4.6 - Asymmetric information
and moral hazard
Nationalisation and Privatisation
8.2.3 - Distinction between absolute
poverty and relative poverty
9.2.4 - Policies to promote economic
growth and their effectiveness
9.2.5 - Inclusive economic growth
9.2.6 - Sustainable economic growth
(more detailed)
9.3.2 - Equilibrium and disequilibrium
unemployment
9.3.3 - Voluntary and involuntary
unemployment
9.3.6 - Mobility of labour
3.3 - Addressing income and wealth inequality
4.1 - National income statistics
4.2 - Introduction to the circular flow of income
4.4 - Economic growth
4.5 – Unemployment
Inter-generational equity
Net advantages and the
long-run supply of labour
Keynesian and Monetarist Schools
(no longer a standalone chapter)
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A LEVEL CONTENT ADDED
A LEVEL CONTENT REMOVED
9.4.1 - Definition, functions and
characteristics of money
9.4.4 - Functions of commercial banks
9.4.6 - Policies to reduce inflation
and their effectiveness
9.4.8 - Interest rate determination:
loanable funds theory
10.2.5 - Relationship between
inflation and unemployment:
expectations-augmented Phillips curve
/
11.1 - Policies to correct disequilibrium
in the balance of payments
11.2 - Exchange rates
11.4.1 - Population growth and
structure: optimum population
11.6 - Globalisation
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PAPER 1
BEFORE 2023
FROM 2023 ONWARDS
1 hour
1 hour
30 MCQs
30 MCQs
40%
33%
2 hours
1 hour 30 minutes
1 Data Response [20]
PAPER 2
1 Micro or Macro Essay [20]
(from a choice of 3)
60%
1 Data Response [20]
1 Micro Essay [20]
(from a choice of 2)
1 Micro Essay [20]
(from a choice of 2)
67%
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New AS Level Exam Structure

No change in the content of Paper 1.

Paper 2 has been given more weight (from 60 % to 67%).

Paper 2 has become longer (2 hours instead of 1 hour 30 minutes)

You will have less time to complete each component of Paper 2 (40 vs 45
minutes per EQ / DR).

You will have to answer 2 essay questions instead of 1.

You have less choice when it comes to essay questions (2/4 vs 1/3)
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New AS Level Exam Structure

Time management will be challenging when answering Paper 2.

You are advised to time yourself when practicing essay questions and data
responses.

You should prepare essay plans in advance for typical questions.

Your answers should be as concise as possible.

Do not overspecialise when preparing for essay questions.

To prepare for MCQs, EconDoctor.com is probably the best tool at your
disposal.
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Most Common AS Level Micro Essays


MORE LIKELY:

Elasticities

Market Failures (Public, Merit, Demerit Goods) + Government Intervention

Income and Wealth Inequalities (NEW)
LESS LIKELY:

Economic Systems

The Price Mechanism

Production Possibility Curves
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Most Common AS Level Macro Essays


MORE LIKELY:

Inflation + Policies to Maintain Price Stability

National Income Statistics + Economic Growth + AS/AD analysis of the impact
of macro policies on real output (NEW)

Unemployment + AS/AD Analysis of the impact of macro policies on the level
of employment (NEW)
LESS LIKELY:

Balance of Payments + Policies to Reduce Imbalances in the Current Account
(Exchange rate policy, Protectionism, etc.)
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PAPER 3
BEFORE 2023
FROM 2023 ONWARDS
1 hour 15 minutes
1 hour 15 minutes
30 MCQs
30 MCQs
30%
33%
2 hours
2 hours 15 minutes
1 Data Response [20]
PAPER 4
2 Micro or Macro Essay [25]
(from a choice of 6)
70%
1 Data Response [20]
1 Micro Essay [20]
(from a choice of 2)
1 Micro Essay [20]
(from a choice of 2)
67%
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New A Level Exam Structure

No significant changes in the weighting of Paper 3 and Paper 4.

No changes in the content or duration of Paper 3.

Paper 4 carries fewer marks, but it is shorter.

You should allocate 40 minutes to the Data Response and 40 minutes to
each essay.

Essays now carry 20 marks instead of 25, and so they should be a bit
shorter (roughly from 600 to 800 words).

You have less choice when it comes to essay questions (2/4 vs 2/6)
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New A Level Exam Structure

All A Level essays are now made of a single part.

Use past papers to prepare for the exam, and focus on 25-mark single
part essay questions.

Since single-part essay questions tend to be harder to structure, make
sure you allocate sufficient time to the planning process.

As mentioned earlier, do not overspecialise, be as concise as possible,
manage your time carefully, and prepare essay plans in advance for the
most typical questions.

For MCQs, use the resources available at EconDoctor.com
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Most Common A Level Micro Essays



MORE LIKELY:

Consumer Equilibrium + Decomposition of a Price Effect

Economic Efficiency + Market Failures + Government Intervention
LESS LIKELY:

The Labour Market (Perfect Competition + Monopsony + Trade Union + Minimum
Wage + Wage Differentials)

Different Market Structures
Not enough new A2 Micro content for a new essay question.
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Most Common A Level Macro Essays

LIKELY:

National Income Statistics + Economic Growth + Economic Development +
The Classification of Countries (SOME NEW CONTENT)

Money Supply + Liquidity Preference Theory + Loanable Funds (SOME NEW
CONTENT)

Unemployment + Policies to Reduce Unemployment (SOME NEW CONTENT)
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A Few Tips About Data Responses

You are advised to read the questions before the text.

According to previously published mark schemes, it is not necessary to
define key terms, unless specifically instructed to do so.

The question that carries the most weight, usually the last one, expects
you to write a short conclusion.

Do not forget to use quotation marks when using information from the
text.

If tables or charts are available, make sure to use the numerical data in
your answer.
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Assessment Objectives Criteria
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Assessment Criteria

AO1 Knowledge and understanding

AO2 Analysis

AO3 Evaluation
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Knowledge & Understanding

“Show knowledge of syllabus content, recalling facts, formulae and
definitions.

Demonstrate understanding of syllabus content, giving appropriate
explanations and examples.

Apply knowledge and understanding to economic information using
written, numerical and diagrammatic forms.”
Source: CAIE AS & A Level 2023-2025 syllabus
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Knowledge & Understanding

Speak economics (i.e. use economics terminology)

Define key concepts

Give formulae (e.g. AFC, MRS, etc.)

Use diagrams (e.g. PE in firm, IC, etc.)

Use examples to illustrate key concepts.

Tip: You should assume that the examiner knows nothing about Economics.
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Analysis

“Examine economic issues and relationships, using relevant economic
concepts, theories and information.

Select, interpret and organise economic information in written, numerical
and diagrammatic form.

Use economic information to recognise patterns, relationships, causes and
effects.

Explain the impacts and consequences of changes in economic variables.”
Source: CAIE AS & A Level 2023-2025 syllabus
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Analysis

An analysis must connect multiple concepts in a logical way.

An analysis starts from a condition (i.e. cause or case), and leads to
conclusion (i.e. effect or consequence).

In most cases, the longer the logical chain of reasoning, the more complex
the analysis.

Tip: You should explain all intermediate steps of your analysis, otherwise
examiners will not be able to follow your train of thought, and you will not
be awarded full analysis marks.
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Analysis
CONCLUSION
CONDITION
CONCLUSION
CONDITION
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Analysis: A few examples

If demand is price-elastic, then a given percentage decrease in price will
lead to a larger percentage increase in quantity demanded. As a result,
the firm’s total revenue will increase.

In the case of merit goods, consumers underestimate the benefits of
consumption. It follows that the demand for merit goods is lower than
under perfect information. Therefore, merit goods will be underproduced
and underconsumed in a free-market.

If the interest goes down, then there will be an outflow of hot money. As
a result, the supply of domestic currency will increase, leading to a fall in
the exchange rate. Therefore, foreign products will become less
internationally competitive, and so imports will decrease.
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Examples

Examples should be used to illustrate a concept (KU), an analysis (AN) or
an evaluative comment (EV).

In general, examples help readers wrap their head around the concept you
are introducing or the point you are making.

In the context of A Level examinations, the use of examples is important
because it provides evidence of your understanding, and because it
demonstrates your ability to apply your knowledge to specific situations.
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Examples

Examples can be either real world or fictive.

Examples can be either written or numerical.

Diagrams sometimes help visualise examples.

Do not simply state your examples.

Use extraordinary examples.
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Evaluation

“Recognise assumptions and limitations of economic information and
models.

Assess economic information and the strengths and weaknesses of
arguments.

Recognise that some economic decisions involve consideration of factors
such as priorities and value judgements.

Communicate reasoned judgements, conclusions and decisions, based on
the arguments.”
Source: CAIE AS & A Level 2023-2025 syllabus
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Evaluation

An essay question must be answered!

To that end, it is not sufficient to make arguments on both sides,
students must also confront them!

In other words, you must discuss whether the arguments on one side
outweigh the arguments on the other side.

However, the weight, strength or validity of an argument often depends
on multiple factors.
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Evaluation

Therefore, a good essay should never give an absolute answer.

In order to give a subtle and nuanced answer, you must evaluate each
of the arguments presented.

The evaluation should run through the essay rather than being saved
for the end.

Evaluating an argument consists in examining the factors influencing
its strength or validity.
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Evaluation

Eventually, once the strength or validity of each argument has been
carefully examined, you will be able to give a subtle and nuanced
answer to the essay question (i.e. a judgement) in your conclusion.

Example: IF Condition 1 = True AND Condition 2 = False THEN Answer =
Yes ; IF Condition A = True AND Condition 2 = True THEN Answer = No,
etc.

Warning: It is not sufficient to state that the answer to the essay
question depends on multiple factors!
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The TEST Classification


The TEST Classification identifies 4 main categories of evaluative
comments.
T


Whether or not inflation is a serious issue depends on the type of inflation we
are facing (i.e. cost-push or demand pull).
E

ype
lasticity
Whether or not the introduction of a minimum wage will lead to a substantial
increase in unemployment depends on the price elasticity of the demand for
labour.
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The TEST Classification

S
ize (may also refer to “level”, “magnitude”, “value”, “intensity” or “degree”)


Whether or not an expansionary fiscal policy will be effective at increasing real
GDP depends on the initial level of spare capacity in the economy.
T

ime
Whether or not the benefits of economic growth outweigh its limitations depends
on the time horizon considered.
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How to
Make a Point
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The SEE Method

State = The “title” of your point, the key idea that you are about to present,
it must be clear and succinct.

Elaborate = Explain your point at greater length, using clear, coherent &
in-depth economic analysis

Exemplify = Use a specific written or numerical example to support the
analysis.

Examples should only be used if they add value to the point.

Diagrams may be used to support the explanation, or to help visualise an
example.
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The SEE Method: Example 1

State: It should be noted that the more price-elastic demand relative to
supply, the greater the tax incidence on producers.

Explain: In that case indeed, producers cannot pass-on much of the tax
burden to consumers. Simply put, this is because the rise in the price paid by
consumers is smaller than the fall in the price received by producers.

Exemplify: The 2 side-by-side diagrams below illustrate this relationship
when the government imposes a $7 indirect tax on a good or service. [INSERT
DIAGRAMS] In the left-hand side diagram, demand is price-elastic relative to
supply, and out of a tax burden of $35, consumers will only bear $10, while
producers will effectively bear as much as $25. In the right-hand side
diagram, demand is price-inelastic relative to supply, and out of a tax burden
of $56, consumers will effectively bear as much as $48, while producers will
only bear $8.
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The SEE Method: Example 2

State: Economic growth is likely to cause environmental damage.

Explain: Indeed, an increase in production usually requires the use of
additional natural resources, and therefore accelerates the depletion of nonrenewable resources such as oil, or natural gas. Besides, economic growth is
often associated with higher greenhouse gases emissions which are
responsible for climate change.

Exemplify: For instance, the steady increase in the world beef production,
has been responsible for higher emissions of methane, a greenhouse gas more
than 25 times as potent as carbon dioxide.
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How to
Present your Essay
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Why Does Presentation Matter?

The importance of presentation should never be understated!

A poor presentation creates a visual discomfort which makes grading more
tedious.

Besides, a poor presentation sends a bad signal to the examiner about the
attention you pay to your work.

This is likely to adversely affect the examiner’s perception of your work,
and may eventually be detrimental to the grade you will obtain.
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Key Ingredients of a Good Presentation

Handwriting: Not too small, neat, roman, block script, etc.

Erasures: Think before you start writing.

Paragraphs: Skip a line + indentation

Diagrams: See next section
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How to
Use Diagrams
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Why you Should Use Diagrams

Reason #1: Illustrate concepts, support explanations, visualise examples

Reason #2: One picture is worth a thousand words

Reason #3: An integral part of the economist’s toolbox

Reason #4: When in doubt, graph it.
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How to Use Diagrams

Do not use colors.

Choose an appopriate scale (i.e. not too small, not too big).

Leave some space between your diagram and your text (i.e. at least
one line before and one line after).

Give a number & a title to your diagrams (e.g. Figure 1: The Law of
Diminishing Marginal Returns).

Use a ruler to draw straight lines.

Do not start your answer with a diagram, diagrams are used to support
a point previously stated and explained.
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How to Use Diagrams

Center your diagram and do not write anything besides it.

Label all lines & curves.

Use arrows to show movement.

Comment your diagram, a diagram which is not commented is worthless.

Ideally, the diagram and its comment should be on the same page.

Do not hesitate to define points, it will help you to identify areas and to
comment your diagram.
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How to Use Diagrams: Example 1
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How to Use Diagrams: Example 2
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STATEMENT &
EXPLANATION
OF YOUR POINT
LINE SKIP
DIAGRAM
NUMBER & TITLE
LINE SKIP
COMMENT
LINE SKIP
NEXT POINT
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How to Choose which
Essay Question to Answer
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An Important Decision

1 Microeconomics essay out of 2.

1 Macroeconomics essay out of 2.

Choosing is refusing

Choosing what essay question to answer is an important decision which
should never be rushed!

It’s okay to take a few minutes to make that decision.
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The Risks of Rushing that Decision

Not answering the question

Going off topic

Overlooking important points

Being unable to illustrate and evaluate

Writing a one-sided or an unbalanced essay

Changing horses in midstream
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Selection Criteria

Read each essay question several times and carefully analyse their
content (i.e. key concepts, command words, specific instructions, etc.).

There are several selection criteria that you should consider.

These criteria can be put in the form of questions:

Do I clearly understand the question?

Do I feel confident about my subject knowledge of the content that relates to
this essay question?

Can I think of sufficient arguments to put forward?

Can I think of good examples to support my main points?

Can I think of interesting evaluative comments to make?

Will I have an opportunity to use diagrams?
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How to Use Transitional
Words and Phrases
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Transitional Words & Phrases

One of your primary goals as a writer is to present ideas in a clear and
understandable way.

To help readers move through your complex ideas, you want to be
intentional about how you structure your paper as a whole as well as how
you form the individual paragraphs that comprise it.

You can guide readers through the connections you’re making by using
transitional words in individual sentences.

Transitional words and phrases can create powerful links between your
ideas and can help your reader understand your paper’s logic.
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Transitional Words & Phrases
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How to
Plan your Essays
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The Risks of Writing Without a Plan

Key ideas may be overlooked

Irrelevant content may be included

Your train of thought may be hard to follow

Your essay might be turn out to be unbalanced

You might struggle with time management

You might forget to demonstrate certain skills

You might end up not answering the question
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How to Plan your Essays

Stage 1: Brainstorming

Stage 2: Structuring

Stage 3: Validating
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How to Plan an Answer
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Stage 1: Brainstorming

What key concepts should I include?

What definitions should I give?

What arguments should I put forward?

What diagrams should I draw?

What examples should I use?

What evaluative comments should I make?
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Stage 2: Structuring

First, the overall content should be organised into 2 or 3 main sections
(i.e. the skeleton of the essay).

Second, the content within each section should be organised into
several paragraphs (i.e. the muscles of the essay).

Third, the content within each paragraph should be organised into a
sequence of well-connected sentences (i.e. the skin of the essay).

Nb: During that process, the content that does not fit should be left
aside.
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Stage 2: Structuring
1
2
3
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Stage 2: Structuring

For a given essay question, there are often several possible ways to
structure your answer.

Besides, the possible ways in which an answer can be structured vary
from one essay question to the other.

Therefore, it is quite difficult to provide essay templates that work well
all the time.

The structure of your essay should be tailored to the question you are
answering.

Tip: Do not forget to write a short conclusion at the end of your answer.
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Stage 3: Validating

Is my structure coherent?

Will my train of thought be easy to follow?

Have I forgotten anything important?

Have I included any off-topic content?

Will my essay be balanced?

Will I have enough time to write?

Will I demonstrate all important skills?

Will my essay lead to a reasoned answer?
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