Exam Preparation & Time Management The University of Melbourne

>

What is special about FBE exams?

• Interpreting data and graphical information • Exams generally ‘high stakes’ (subject weighting) • Sometimes use ‘hypothetical’ yet realistic situations • Use of formulas

The University of Melbourne

• • • • •

Mark Eggins Centre for Learning and Teaching Excellence [email protected]

The University of Melbourne

Outline

>

>

General considerations Active Learning Types of Questions Resources Student Views

Success depends on: The University of Melbourne

• demonstration of required learning: – recall of facts, definitions, formulae, concepts – evaluation of ideas, concepts or methods – application of principles / theories/formulae to solve problems

• revision & practice • understanding what is being asked • time & stress management

>

Success depends on: The University of Melbourne

>

• demonstration of required learning:

>

https://sis.unimelb.edu.au/index.html • Exam dates, places, times • FAQs • Special consideration procedures

• revision & practice • time & stress management • understanding of what is being asked

Check for any old exam papers on the Library website: http://www.lib.unimelb.edu.au/collections/exams/

Know What to Expect 2

• Look at your subject guide (including learning objectives) and compare to: – curriculum – text book chapters – lecture & tutorial topics

The University of Melbourne Visit the Student Portal:

– recall: ‘what’ question – evaluation: ‘why’ it is useful – application: ‘how’ I can apply it

The University of Melbourne

Know What to Expect 1

>

Know What to Expect 3 The University of Melbourne

• What questions types will there be? – Multiple choice – Short answer – Essay – Choice of questions

>

Tip 1: Get an overview of the subject The University of Melbourne

ECON10003 Introductory Macroeconomics

>

The University of Melbourne

>

Subject Overview: • An introduction to macroeconomic theory and policy. • Economic aggregates such as:

• Vocabulary • Objectives • Relationship to:

– – – – –

– theory to practice – the profession generally

aggregate production and employment the general level of prices and inflation the exchange rate interest rates the balance of payments and economic growth

• Analysis is particularly directed to current macroeconomic problems and policy issues.

Introductory Macroeconomics: Objectives The University of Melbourne • Explain the importance of the circular flow of income to macroeconomics. • Interpret the meaning and measurement of macroeconomic aggregates such as Gross Domestic Product. • Explain the four macroeconomic objectives. • Explain and use the Keynesian model of national income determination. • Describe the roles of money and the financial system in the macroeconomy. • Critically analyse macroeconomic policies appropriate to the achievement of the macroeconomic objectives. • Explain and apply the aggregate demand/aggregate supply model. • Explain the relation between unemployment and inflation. • Analyse the factors influencing the balance of payments and the exchange rate.

>

Introductory Macroeconomics: Objectives

The University of Melbourne

>

• Can I explain the importance of the circular flow of income to macroeconomics? • Can I interpret the meaning and measurement of macroeconomic aggregates such as Gross Domestic Product? • Can I explain the four macroeconomic objectives? • Can I explain and use the Keynesian model of national income determination? • Can I describe the roles of money and the financial system in the macroeconomy? • Can I critically analyse macroeconomic policies appropriate to the achievement of the macroeconomic objectives? • Can I explain and apply the aggregate demand/aggregate supply model? • Can I explain the relation between unemployment and inflation? • Can I analyse the factors influencing the balance of payments and the exchange rate?

A possible activity The University of Melbourne

>

• Find the handbook entry for one of your subjects • Turn the objectives into questions • Ask your partner to ask you some of them • Consider what week/s they may relate to

Tip 2: Start early, don’t ‘cram’ The University of Melbourne If you cram, your learning will be: • superficial • easily forgotten • Stressful Therefore make time each week for: 1. F_ _ _ to f_ _ _ c_ _ _ _ _ _ h_ _ _ _s 2. Ass_ _ _ _ _ _ _ t_ _ks 3. W_ _ _ly r_ _ _ _ _w 4. S_ _ _ _ _ _ r_ _ _ _w

>

Tip 2: Start early, don’t ‘cram’ The University of Melbourne

>

If you cram, your learning will be: • superficial • easily forgotten • Stressful Therefore make time each week for: 1. 2. 3. 4.

Tip 2: Start early, don’t ‘cram’ The University of Melbourne If you cram, your learning will be: • superficial • easily forgotten • Stressful Therefore make time each week for: • Face to face contact hours • Assessment tasks • Weekly revision • Subject revision

>

Weekly and subject revision The University of Melbourne

Weekly and subject revision

>

The University of Melbourne

>

• Weekly revision:

• Weekly revision?

– – – –

• Subject revision?

Go into the lecture with questions Go over your notes after lectures Transform them Discuss them

• Subject revision: – Summarise the lecture – Put it into a progressive table or mindmap each week so you can develop a ‘big picture’ of the subject

Tip 3:Develop a Timetable The University of Melbourne

>

• Indicate specifics, priority & time allocated • Note other responsibilities • Short breaks every 30 or 40 minutes • Longer breaks every 2 or 3 hours • Early bird or night owl? • Don’t study late if you have early exams

Develop a Timetable 2 The University of Melbourne

• • • •

Semester timetable Weekly timetable Daily to do list Key dates list (in a ‘public place’)

>

Tip 4: Organise a Place for Study The University of Melbourne

>

• Home • University or local library • Quiet, organised, well-lit, no distractions

• Ask not to be disturbed • Manage distractions (internet, TV, computer games, phone etc.)

Active Revision

• What is active study? • Are you using any active study methods in your revision? • If so, what are you doing?

The University of Melbourne • • • • • • •

If at home:

The University of Melbourne

Tip 5: Take Care of Yourself

>

>

Keep up to date Eat well Sleep well Drink lots of water Exercise Take regular breaks Positive self talk

Tip 6: Revise actively The University of Melbourne • Don’t just re-read • Refer to objectives and questions • Review and sort lecture notes, tutorial questions, texts (Use flash cards, a folder, computer, book) • List what you don’t know • Set questions • Discuss with others

>

Active revision = managing overload The University of Melbourne

1. 2. 3. 4. 5.

>

The University of Melbourne

>

Read Understand Select and discard Structure & transform Manipulate Ref: uws.ac.uk

Indenting, space, position, size…

The University of Melbourne

>

The University of Melbourne

= +, >, < ~ @ Ref: uws.ac.uk

>

Symbols The University of Melbourne

>

The University of Melbourne

• • • • • • •

= (equals) +, - (plus, minus) (less than, more than) ~ (approximately) @ (at)

>

esp. w/ w/o c. c.f. e.g. re

Abbreviations

More symbols & abbreviations Ref: uq.edu.au

The University of Melbourne

• • • • • • •

esp. (especially) w/ (with) w/o (without) c. (circa, around) c.f. (compared with) e.g. (for example) re (regarding)

>

The University of Melbourne

>

Dot points The University of Melbourne

>

Ref: main.uab.edu

The University of Melbourne

>

Ref: main.uab.edu

Table The University of Melbourne

>

The University of Melbourne

Context

Method A

Method B

Context

Method A

Method B

Small business Medium business

Used for X

n/a

Used for X

n/a

Used for X and Y

Used for Y only

Small business Medium business

Used for X and Y

Used for Y only

Large business

Used for Y and Z.

Used for X, Y and Z.

Large business

Used for Y and Z.

Used for X, Y and Z.

Y is most important

Y is most important

>

Concept Pyramid

Ref: thepoliticalsword.com

Ref: thepoliticalsword.com

The University of Melbourne

>

Ref: http://www.mindmapart.com/get-ready-for-exams-mind-map-jane-genovese/

The University of Melbourne

>

Ref: http://www.mindmapart.com/get-ready-for-exams-mind-map-jane-genovese/

Mind Map The University of Melbourne

>

The University of Melbourne

>

Mnemonics The University of Melbourne

>

The University of Melbourne

Ref: brendanpauljacobs.com

Ref: brendanpauljacobs.com

Active Revision: basics The University of Melbourne

Colour Position Indenting Abbreviations Visuals Numbers

Space Size Symbols Key words Columns Titles

>

P of Bus Law

Intro to Clim Change

>

Missing Link

The University of Melbourne Intro Macro

Intro Micro

QM 1

APA

B

om C

ATA ARA

>

Law

General breath

Missing Link

The University of Melbourne

P of B L

I to C C

>

The University of Melbourne

Intro Macro

QM 1

APA

B

QM 1

ATA

The University of Melbourne

B

C

TA

PA

Missing Link

>

I Mac

I Mic

om C

Missing Link

RA

P of Bus Law

Intro to Clim Change

>

Missing Link

The University of Melbourne Intro Macro

Intro Micro

QM 1

APA

B

om C

ATA ARA

>

Flashcards The University of Melbourne

>

Question Types

• • • •

Multiple choice Short answer Problem solving Essay

The University of Melbourne

>

• Choose a simple topic from one of your subjects • Using some kind of active learning document it on a page, then explain it to your partner: Colour Space Position Size Indenting Symbols Abbreviations Key words Visuals Columns Numbers Titles Dot points Table Mind map Concept Pyramid Mnemonics

Ref: scienceguyz.com

The University of Melbourne

Activity 2

>

Multiple Choice The University of Melbourne

>

• Consider ways to respond (eg. ticks, crosses) • Underline key words • Note words such as only, always, must, can, best, most, all, many, some, none, sometimes, never, more, less, least • Note negatives (Which … doesn’t…?) • Read all alternatives • Eliminate obviously wrong answers • Make intelligent guesses • Try covering options first

Multiple Choice 2 The University of Melbourne

>

• Note clearly the context:

Question Al The University of Melbourne

>

• Sam is a manager of a local video rental shop. His business is facing a cash crisis and he needs to increase his sales revenue. If the supply of rental videos is elastic, then in order for Sam to increase his sales revenue: a) He should increase the rental price of videos b) He should decrease the rental price of videos c) He should not change the rental price of videos d) He could not determine what to do until he had information on whether demand for videos is elastic or inelastic.

– What? – Who? – What is happening? – Positive, negative or neutral? – Similarities and differences in the choices

THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011 ECONI0004 INTRODUCTORY MICROECONOMICS

Question Al The University of Melbourne • Sam is a manager of a local video rental shop. His business is facing a cash crisis and he needs to increase his sales revenue. If the supply of rental videos is elastic, then in order for Sam to increase his sales revenue: a) He should increase the rental price of videos b) He should decrease the rental price of videos c) He should not change the rental price of videos d) He could not determine what to do until he had information on whether demand for videos is elastic or inelastic. THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011 ECONI0004 INTRODUCTORY MICROECONOMICS

>

Question A3 The University of Melbourne

>

• The mango market in Australia is perfectly competitive. The cross price elasticity of demand for mangoes with regard to the price of papaws is 0.6. This means that: a) A rise in the price of papaws will lead to an increase in the revenue of mangoes farmers b) A rise in the price of papaws will lead to a decrease in the revenue of mangoes farmers c) A rise in the price of papaws will not alter the revenue of mangoes farmers d) A rise in the price of papaws will lead to an excess supply of mangoes in equilibrium THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

Question A3 The University of Melbourne

Note the trend in questions

>

• The mango market in Australia is perfectly competitive. The cross price elasticity of demand for mangoes with regard to the price of papaws is 0.6. This means that: a) A rise in the price of papaws will lead to an increase in the revenue of mangoes farmers b) A rise in the price of papaws will lead to a decrease in the revenue of mangoes farmers c) A rise in the price of papaws will not alter the revenue of mangoes farmers d) A rise in the price of papaws will lead to an excess supply of mangoes in equilibrium

The University of Melbourne

• • • •

>

Increase Decrease No change Other effect

THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

Question A4 The University of Melbourne • At its current level of output a firm has a marginal cost of $10, an average total cost of $12, and an average variable cost of $8. Marginal cost is increasing at its current level of output The firm operates in a perfectly competitive market where the price of each unit of output sold is $10. From this information we can infer that: a) The firm should increase output to maximize profits. b) The firm would be willing to operate at this level of output both in the short run and long run. c) The firm will not be willing to operate either in the short run or long run. d) The firm is willing to operate at this level of output in the short run but not the long run. THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

>

Question A4 The University of Melbourne • At its current level of output a firm has 1) a marginal cost of $10, 2) an average total cost of $12, and 3) an average variable cost of $8. 4) Marginal cost is increasing at its current level of output. 5) The firm operates in a perfectly competitive market where the price of each unit of output sold is $10. From this information we can infer that: a) The firm should increase output to maximize profits. b) The firm would be willing to operate at this level of output both in the short run and long run. c) The firm will not be willing to operate either in the short run or long run. d) The firm is willing to operate at this level of output in the short run but not the long run. THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

>

Question A4 The University of Melbourne

Short Answer

>

The University of Melbourne

1) marginal cost = $10 2) average total cost = $12 3) average variable cost = $8 4) Marginal cost ^ at current level of output 5) A perfectly competitive market (price of each unit of output sold = $10 So… a) The firm should increase output to maximize profits. b) The firm would be willing to operate at this level of output both in the short run and long run. c) The firm will not be willing to operate either in the short run or long run. d) The firm is willing to operate at this level of output in the short run but not the long run.

>

• List important terms, definitions and examples • Make notes and outlines • Attempt all necessary questions • Ensure every answer has a clear structure

THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

Introductory Macroeconomics

Introductory Macroeconomics The University of Melbourne

• Identify task words and content words

>

The University of Melbourne • • • • • •

Main topic: Particular context/s: Relationship: Particular relationships: Theory: Task:

>

Introductory Macroeconomics

The University of Melbourne

Give answers structure

>

• Main topic: GFC • Particular context/s: China (gov’t fiscal stimulus package) & Aust (GDP) • Relationship: Cause and effect • Particular relationships: 1. GFC & China’s FS package 2. China’s FS package & Aust’s GDP • Theory: Keynesian four sector model • Task: Give a complete outline of 2 ensuring you cover: • Nature, size and location/s of effect

The University of Melbourne

>

• DIAGRAM • The government setting a binding minimum price for grapes above the current equilibrium price will (adverb) affect the price and quantity in (quantifier) ways. The winner/s are likely to be _______ while _______ may find the minimum price setting less beneficial. The supply and demand diagram illustrates these results. • In particular, the diagram above clearly highlights…because… Moreover…In contrast… • It is clear therefore that a government initiated minimum price for grapes would…

Question Bl The University of Melbourne •

In the United States during the 1960's, the various state governments had vastly different views about advertising by optometrists. Some states allowed advertising for glasses and eye examinations. Many states, however, prohibited it. For example, the Florida law read as follows: 'It is unlawful for any person, firm, or corporation to ... advertise either directly or indirectly by any means whatsoever any definite or indefinite price or credit terms on prescriptive or corrective lens, frames, complete prescriptive or corrective glasses, or any optometric service ... This section is passed in the interest of public health, safety, and welfare, and its provisions shall be liberally construed to carry out its objects and purposes.' Dan agrees with the Florida law and argues that: 'Advertising is bad for consumers as it leads to less competition and higher prices.' Sue disagrees and argues that: 'Advertising is good for consumers as it leads to more competition and lower prices.'

•

THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

>

The University of Melbourne

• Consider the statements made by Dan and Sue. Say whether you believe each statement is correct or incorrect. Briefly explain your answer and use diagrams where appropriate. Note that most of your marks will be given for your explanation.

>

Question Bl The University of Melbourne •

•

Question Bl

>

The University of Melbourne

In the United States during the 1960's, the various state governments had vastly different views about advertising by optometrists. Some states allowed advertising for glasses and eye examinations. Many states, however, prohibited it. For example, the Florida law read as follows: 'It is unlawful for any person, firm, or corporation to ... advertise either directly or indirectly by any means whatsoever any definite or indefinite price or credit terms on prescriptive or corrective lens, frames, complete prescriptive or corrective glasses, or any optometric service ... This section is passed in the interest of public health, safety, and welfare, and its provisions shall be liberally construed to carry out its objects and purposes.' Dan agrees with the Florida law and argues that: 'Advertising is bad for consumers as it leads to less competition and higher prices.' Sue disagrees and argues that: 'Advertising is good for consumers as it leads to more competition and lower prices.'

Topic: advertising by optometrists • Some states allowed advertising for glasses and eye examinations.

THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

•

– Sue argues: 'Advertising is good for consumers as it leads to more competition and lower prices.'

• Many states, however, prohibited it. – for public health, safety, and welfare reasons (Florida) – Dan argues: 'Advertising is bad for consumers as it leads to less competition and higher prices.' THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

Question Bl The University of Melbourne

Advertising by optometrists • Some states allowed advertising for glasses and eye examinations. – Sue argues: 'Advertising is good for consumers as it leads to more competition and lower prices.' – Dan argues: 'Advertising is bad for consumers as it leads to less competition and higher prices.' •

THE UNIVERSITY OF MELBOURNE (DEPARTMENT OF ECONOMICS), SEMESTER 2 ASSESSMENT, 2011, ECONI0004 INTRODUCTORY MICROECONOMICS

>

Practice exams

>

The University of Melbourne •

For past exams concentrate on the latest noting any trends re: – – –

•

Have a mix of exam question practice: 1. 2. 3.

•

question types instructions time allocations etc. ‘Full’ answer (no time limit and full resources) ‘Note’ answer ‘Timed’ answer (i.e. ‘exam conditions’)

Also consider writing your own and using textbook questions

>

The week before The University of Melbourne

>

On the Day

• • • • • • • •

Get up in good time Dress for the weather Don’t skip breakfast Check venue / journey Don’t panic / cram Read notes calmly Avoid nervous discussions Relax

The University of Melbourne

>

• Don’t panic or cram • Review and recite • Pack (watch, pens, ID, calculator, rubber, ruler, drink) • Eat well • Set alarm • Sleep well

• Drink lots of water to hydrate • Exercise to reduce stress • Use a variety of revision methods to avoid boredom • Discuss to consolidate and avoid isolation

The University of Melbourne

The Night Before

>

Reading Time The University of Melbourne

• Scan the whole exam identifying: – instructions – the number of sections and questions – compulsory questions – marks and time allocation – context and requirements – which would be best to start with

>

What happens when… The University of Melbourne

>

What happens when… The University of Melbourne My mind’s gone blank! I can’t answer anything! • Don’t panic. Breathe slowly. Put your pen down for a moment, then try and draw a mind map or similar • Try another question or go over one you have already done (that you are reasonably happy with) • Return to the question(s) later if necessary • Don’t leave answer(s) blank I’m going to run out of time! • Try to stick to time limits you set earlier. • Put notes in • Point form if you have to

• My mind’s gone blank! I can’t answer anything! • I realise I’m going to run out of time!

Get help: writing The University of Melbourne • TLU Peer Writing Tutor (Level 5, The Spot)

>

Further Help The University of Melbourne

http://www.tlu.fbe.unimelb.edu.au/students/undergraduate/peer_writi ng.html – drop-in (no appointment required)

• Lecturer / Tutor • Other students • Counselling Service

• Academic Skills

http://cms.unimelb.edu.au/studentservices/counsel

– Individual appointments (book at Commerce Student Centre) http://cms.unimelb.edu.au/studentservices/asu/services/students – On-line writing course (AIRport) https://airport.unimelb.edu.au/

>

• Disability Liaison Unit http://cms.unimelb.edu.au/studentservices/disability

>

Resources: Print The University of Melbourne •

>

The University of Melbourne

>

CELT Helpsheets – Concept Mapping http://tlu.fbe.unimelb.edu.au/pdfs/helpsheets/study_skills/concept_mapping.pdf – Learning to Learn http://tlu.fbe.unimelb.edu.au/pdfs/helpsheets/study_skills/learn_to_learn.pdf – Exam Preparation http://tlu.fbe.unimelb.edu.au/pdfs/helpsheets/study_skills/examprep.pdf

•

Academic Skills Helphsheets – Active Learning http://cms.unimelb.edu.au/__data/assets/pdf_file/0007/475009/Active_learning_Update.pdf – Remembering Scientific Terms http://cms.unimelb.edu.au/__data/assets/pdf_file/0004/459589/Remembering_Scientific_terms_Upda te.pdf – Exam Day Tips http://cms.unimelb.edu.au/__data/assets/pdf_file/0008/470906/Exam_day_tips_Update.pdf – Revising for Exams http://cms.unimelb.edu.au/__data/assets/pdf_file/0006/470904/Revising_for_exams_Update.pdf – Managing Short Answer Exams http://cms.unimelb.edu.au/__data/assets/pdf_file/0010/489124/Managing_short_answer_exam_ques tions_in_Science_NEW.pdf

Resources The University of Melbourne • Cottrell, S. (2003) The Study Skills Handbook • Dunleavy, P. (1986) Studying for a Degree in the Humanities & Social Sciences • How to draw Mind Maps http://www.howcast.com/videos/164972-HowTo-Make-a-Mind-Map-Version-2

>

Final Thought The University of Melbourne

• “Your central task in unseen exams is to show off the maximum amount of high level knowledge in an organised way relevant to the question asked” (Dunleavy, 1986)

>

https://airport.unimelb.edu.au/first_year/

Studying for Exams: Student Views 1 The University of Melbourne

>

The University of Melbourne

>

• Summarise the course: – palm cards – dot points – mind maps – back of your hand = the easiest most brainless thing to do. But it gets you out of procrastination mode and into “oh no-so much-to-study!” mode

Studying for Exams: Student Views 2 The University of Melbourne

>

• Learn the facts/formulas as you do practice questions: – As much as we love cramming, first resort is to do questions. – Only look at your notes if you’re really really stuck, and make big read crosses and write the right answer when you mark the questions. – The shame and inconvenience of it all will make you naturally remember stuff. – Keep going back to the topics that you fumble with. – Draw smiley faces when you get better at something 

Studying for Exams: Student Views 3 The University of Melbourne

>

• Do a past paper or two and cram: – When the exam is almost knocking at the door, this is the time to do a past paper (i.e.. something that covers all the topics in one hit) – This helps you cram that stuff you realise you haven’t learnt yet.

Studying for Exams: Student Views 4 The University of Melbourne • Find the right time Human brain works better during the day, so I advise you to actually get up in the morning • Take a break and rest your mind Give yourself a break in the evening and watch mind-less TV, when you feel like nothing is going in anymore… nothing is going in anymore.

>

Studying for Exams: Student Views 5 The University of Melbourne • Get help If stuck email a tutor/lecturer or facebook some classmates. The more vague your course outline is, the more important it is that you keep in touch with classmates. • Relax just before the exam Only go over the stuff that you crammed the night before in the moments before the exam (the less you crammed the better, I tell you) otherwise just relax and repeat your seat number over and over in your head.

>