This is an extract of Mr Koh’s first session with JC A Level H2 Economics students on 2 Jan 2025.
Introduction to J2 Economics – Approach to Studying
Mr Koh emphasised the necessity of adopting a proactive approach to studying economics at the start of the academic year. He encouraged students to identify key themes within the syllabus rather than relying solely on memorisation. Mr Koh differentiated between static and dynamic questions, explaining that static questions are content-based while dynamic questions require a contextual understanding of economic events. He introduced structured answering techniques, such as the A12, B12 framework, to help students effectively tackle these question types and prepare for various exam scenarios.
Introduction to J2 Economics – Resources
Mr Koh presented TET’s proprietary microeconomic and macroeconomic consolidated documents, which aims to assist JC Economics students in grasping essential economic structures and themes. He advised focusing on frequently tested questions, in order to cut through the content clutter and “do more with less”.
In introducing the macroeconomics syllabus, Mr Koh highlighted key macroeconomic performance indicators, including sustained economic growth, price stability, low unemployment, and a healthy balance of trade. Mr Koh also discussed the importance of high living standards, which encompass both material and non-material aspects, and illustrated these concepts with real-world examples, such as pollution issues in Serbia.
H2 Economics – Macroeconomic Models
The significance of the AD-AS model and the circular flow model in deriving equilibrium GDP level was another focal point of Mr Koh’s discussion. He urged participants to critically assess the use of different models, noting that each serves unique objectives in understanding economic interactions. Mr Koh reiterated the importance of dynamic questions that analyse events affecting economic performance and provided structures for addressing both dynamic and static questions.
Mr Koh also elaborated on measuring and comparing standards of living, emphasising the 70-30 rule for material versus non-material standards and the necessity of converting nominal GDP to real GDP for accurate analysis. He emphasised the importance of cutting through the clutter when learning, by focusing on commonly tested themes.
Tackling Questions on Standards of Living – DIRCO Approach
Mr Koh went on to introduce the DIRCO structure, consisting of 8 or 10 points for assessing changes in material living standards. He discussed the relevance of GDP and GNP, clarifying how to derive GNP from GDP and the implications of obtaining per capita figures in these calculations. Mr Koh highlighted the limitations of measuring material standards, including unrecorded transactions and data quality issues, and stressed the importance of focusing on key indicators like real GDP. He introduced www.thateconsplanner.com‘s essay planner for practice and confirmed that he would send PDF notes to participants for their revision, reinforcing the need for structured essay planning and clarity in understanding economic concepts.