EC1301 Final Exam Briefing

Date, Time and Venue

Saturday 23 November 1:00pm

Venue is MPSH1A and MPSH1B

Turn off cell phones b4 entering the exam hall!

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Checklist for items to bring

• Student ID

• 2B pencils and eraser

• Small clock or watch

• Sweater (in case you might feel cold)

• Simple calculator or Scientific calculator

Check batteries!

No Graphic calculators

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Shading Bubble forms

Instructions for filling matriculation number are on the bubble form

No need to write

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Clinics during Reading Week

During Reading Week, Clinics will be held at AS2/05-10

Clinic hours are Monday to Friday10am to 4pm

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Practice Questions

By department regulation, past year final exam papers are not to be released

MCQ practice questions will be provided via MyEconLab

• ~ 20 to 30 MCQs per chapter

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Exam Format and Coverage

2 hours for 80 multiple-choice questions

Approx. 20 questions from Micro Lectures 5 and 6 • Efficiency, Government Action in Markets, Monopoly • From Dr Connie: Any sections of the chapters not

included in the lecture notes are EXCLUDED from the exam

Approx. 60 questions from Macro Lectures 7 to 12• Exclude items marked as “Enrichment”• Exclude Lecture 9 Part 2 “Quantity Theory of Money”

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Macro Textbook Readings

Areas in textbook that were not also discussed in lecture will not be tested• E.g. “Reading between the Lines” segments• E.g. some “Economics in Action” segments

Areas in textbook that you are asked to browse through will not be tested• E.g. Mathematical Note for Ch28 - no need to

know how to derive multiplier with automatic stabilizers

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Data and History in Macro

Knowledge of empirical data is not necessary

• E.g. you are not expected to know that Singapore’s M1 is less than 50 percent of GDP

Detailed knowledge of historical events is also not necessary

• E.g. you don’t need to know that ARRA was passed in February 2009

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Data and History in Macro

But you should have rough knowledge about major events

• E.g you should know that ARRA was a response to the Great Recession

• E.g. Modern economic growth didn’t really start till about 200 years ago

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Computation Questions

Look through parts of lecture that required you to do computations

• E.g. how to compute GDP, CPI, U3 to U6 unemployment etc.

• E.g. Rule of 70 approximation

• E.g. Expenditure multiplier and equilibrium GDP

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Connect theory with diagrams

E.g. Practice reasoning behindthe shifts in AD and SAS from a demand shock

P

Y($tr)

130

100

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LAS

10

AD1

AD2

SAS1

E

F

SAS2

G160

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Good Luck!

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