WHAT TO MEMORISE: BILATERAL/MULTILATERAL FTAs for RESEARCH TASK 1 (1 Viewer)

[Focus08]

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:

• Research Task – The Global Economy
• 45 minutes + 5 minutes planning time
• Short answers – total 25 marks

Other information:


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.

 

[ukwehiewh]

There's a Topic 1 short answer compilation sheet surfacing around on google. I would defs look at short answer questions reflecting those given syllabus points and pick out relevant information needed to answer it. This would be basic information on my cheat sheet. Since you guys get given a cheat sheet, I would try and memorise REALLY basic theory and try to use the sheet for statistics bc contemporary information would differentiate u from most of the cohort. Point is - use these two weeks to become familiarised with the types of questions you can be asked, and definitely leverage the cheat sheet to enhance your answers rather than be a regurgitation of basic theory!

 

[Focus08]

There's a Topic 1 short answer compilation sheet surfacing around on google. I would defs look at short answer questions reflecting those given syllabus points and pick out relevant information needed to answer it. This would be basic information on my cheat sheet. Since you guys get given a cheat sheet, I would try and memorise REALLY basic theory and try to use the sheet for statistics bc contemporary information would differentiate u from most of the cohort. Point is - use these two weeks to become familiarised with the types of questions you can be asked, and definitely leverage the cheat sheet to enhance your answers rather than be a regurgitation of basic theory!

Thank you so much for the response! I will start doing everything you said ASAP. would you happen to have the link to that "Topic 1 short answer compilation sheet"?