A Level Economics Literacy Skills Booklet Sample
A Level Economics Literacy Skills Booklet Sample
CONTENTS
Section 1 What does “good” literacy look like? Page 3
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A key literacy skill is making sure you obtain from a piece of text exactly what it is you need.
This extract contains almost 400 words. We are going to look at various ways of making sure you obtain from
For example, an exam question contains important information. An exam extract might contain information if the the text exactly what is needed.
context is unfamiliar, ideas as to the sorts of areas you might discuss in your answers and some evidence that you
a First, skim the text. To do this:
could use in evaluation.
1 Read the title
A few exercises are given below for you to assess your own reading literacy, and further strategies are given throughout 2 Read the first and last sentence of each paragraph
this booklet. 3 Read any words in bold
4 Look at any illustrations
Task 8 | Better reading
Here is an article from the World Economic Forum published in 2017. Don’t read it immediately but skip ahead to the Jot down your ideas below as to what the article is about, based on your skim read:
end of the article and use the exercises that follow it to guide you through effective reading.
China’s $900 billion New Silk Road. What you need to know
You’ve probably heard of the Silk Road, the ancient trade route that once ran between
China and the West during the days of the Roman Empire. It’s how oriental silk first made
it to Europe. It’s also the reason China is no stranger to carrots.
And now it’s being resurrected. Announced in 2013 by b Next, think about any background information you already know about this topic. Jot this down.
President Xi Jinping, a brand new double trade corridor
is set to reopen channels between China and its
neighbours in the west: most notably Central Asia, the
Middle East and Europe.
According to the Belt and Road Action Plan released
in 2015, the initiative will encompass land routes (the
“Belt”) and maritime routes (the “Road”) with the goal
of improving trade relationships in the region primarily
through infrastructure investments. The aim of the
$900 billion scheme, as China explained recently, is
to kindle a “new era of globalization”, a golden age of c Think about some questions the text might answer. Note them down below (it doesn’t matter if the text doesn’t
commerce that will benefit all. Beijing says it will end up answering your questions!).
ultimately lend as much as $8 trillion for infrastructure
in 68 countries. That adds up to as much as 65% of the
global population and a third of global GDP, according
to the global consultancy McKinsey.
But reviews from the rest of the world have been mixed, with several countries expressing suspicion about China’s true geopolitical
intentions, even while others attended a summit in Beijing earlier this month to praise the scale and scope of the project. The
project has proved vast, expensive and controversial. Four years after it was first unveiled, the question remains:
Among domestic markets set to gain from future trade are Chinese companies – such as those in transport and telecoms – which d Scan the text looking for how many countries will be involved in the project. Add your answer to the box below.
now look poised to grow into global brands. Chinese manufacturing also stands to gain. The country’s vast industrial overcapacity
– mainly in the creation of steel and heavy equipment – could find lucrative outlets along the New Silk Road, and this could allow
Chinese manufacturing to swing towards higher-end industrial goods.
Source: https://www.weforum.org/agenda/2017/06/china-new-silk-road-explainer/
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3 Now add the diagrams b Explain the likely impact of an increase in exports on short run growth and inflation.
Diagrams are crucially important in economics, but students find it hard sometimes to know how to link them effectively
into explanations. Think back to the laundry example. Imagine how much more effective this explanation would be
if you included illustrations of where to find a clothes label and exactly what the labels meant, a photo of a washing
machine with the washing programmes labelled and explained and then a diagram showing the start button. Perhaps
you could also include diagrams of where to find the dosing instructions on the packaging for the laundry detergent.
These illustrations will be the most helpful if they are in context – for example if they show the washing machine the
person is actually using. The same is true for economics. You need to select the diagrams that are most relevant and
then you need to refer to them to add detail and clarity to your explanations. References to the diagrams will form a
number of links in your chains of explanation. The first example is done for you and then there are further examples
for you to try.
a Explain the impact of an increase in disposable income on the market for petrol.
Disposable income is Disposable income is an In the case of petrol, the impact on demand will
income after tax has been important determinant be positive since petrol is a normal good with
paid and benefits added of demand. a positive YED. The impact can be analysed
using a D&S diagram.
P
Dissatisfied parties c Explain the likely impact of imposing a minimum price for alcohol.
(in this case consumers) are
assumed to change their
behaviour and in particular
to increase the price they
D1
are willing to pay. D
Q Q1 Q2 Quantity
As the price starts to rise above P, this sends a signal and provides At the same time, the price increase above
an incentive for firms to allocate more resources to this market. There P provides some consumers with an incentive
is an extension along the supply curve S. But supply of petrol is to ration and there is a contraction back along
relatively price inelastic so the increase in allocation is not large. the new demand curve D1
Eventually a new equilibrium is reached at P1, Q1. The price has risen
from P and the quantity demanded and supplied has risen to Q1.
In the case of petrol, the majority of the adjustment is likely to fall on
price due to the low price elasticities for both demand and supply.
The references to the diagrams are coloured in yellow. You can see how many there are and that they are throughout
the text once the initial definitions have been made. You can see how they add detail and how they add clarity. Here
are two questions for you to try. The key thing each time is to select the best possible diagram to use and then to
introduce it at the right point in the chain. Then refer to it several times at least adding plenty of economics and plenty
of explanations as you go.
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Prefix or suffix
-less
Meaning
Without
Examples
Eg endless
SECTION 5
-age A result Eg wreckage WRITING ABOUT DATA AND DIAGRAMS – IN FOCUS
-ance Quality or state, action or process Eg performance
In Section 3, we touched on how to write about data and diagrams. Writing about quantitative and qualitative
-ous Full of Eg joyous data is a core skill of all social scientists, including economists. Economists also need to be able to write
-some A tendency to Eg quarrelsome about any diagrams that are used as part of analysis and arguments. In this short section, we go into more
detail on some of the ways in which you can develop these specialist written skills.
-aceous Resembling or made of Eg herbaceous
Mis- Wrongly Eg misjudged
Quoting and using data
In-, im- or -ir- Into or not Eg invade, immoral, irresponsible
All A-level economists have to answer data response, or context, questions in exams. All of these questions require
Dis- or de- Opposite of or not Eg discomfort or dehydrated “application” of the context. The examiner needs to see evidence of this “application” in order to award marks.
Circum- Around or about Eg circumference, circumscribe Therefore, you need to be able to quote and use data from the extracts in your answer.
Auto- Same or self Eg autobiography
Un- Opposite Eg unlock
Sub- Under Eg substandard
Super- Above Eg superstar What is a quote?
Non- Not Eg nonsense A quote, or quotation, is the repetition or use (in your own writing) of a group of words or piece of information
that comes from someone else’s writing.
Poly- Many Eg polyethylene
How much should I quote?
Fore- Before Eg foretell
You need to use as much evidence as you can to support your argument(s). But, you need to be selective about
Here are some made up words. Using the clues given and the information above, can you decide what the meanings how much evidence you quote – if you use too much, it can get in the way of your argument and make your
of the words might be? answer difficult to read and follow.
Made up word Clue (where needed) Your guess at the meaning In what ways can I quote?
You can directly quote key sentences in your answer. You can also paraphrase (that is, put the information
Polypter “pter” means wings from the data or context into your own words).
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Q2 Explain, with reference to the data and using a diagram, possible causes Q3 Using the information provided and your own economic knowledge, explain
of rising wages in a free market. the difference between structural unemployment and cyclical unemployment.
Student answer Student answer
Wages are determined in the labour market, and in a free Wage S Unemployment in general refers to people who are out of work but who are able and willing to work at the going
rate
market are influenced by demand for and supply of labour. A wage rate. There are many different causes. One cause is structural unemployment. This relates to a change in the
free labour market has no trade union influence, no monopsony structure of the economy, where some industries shrink and others grow. Workers in the declining industries do not
employers and no government intervention in the way of necessarily have the skills that are relevant in the growing industries, and so they can’t find a job. Another cause
minimum wages etc. W1
is cyclical unemployment. This is unemployment that is linked to the economic cycle. When there is recession,
less output is demanded. Because demand for labour is derived from demand for goods and services, demand for
One way in which wages will rise in a free labour market is if W labour therefore falls in recession.
there is an increase in demand for labour i.e. an increase from
D to D1 as shown in the diagram. This can happen if there is My improved answer:
an increase in demand for the product being produced by that D1
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