Revision Flash cards can offer an effective revision strategy. There are two parts to the flash card technique: 1 The flash card The flash card should have a question on the front and the answer on the back. For example:
Front – The question Back – The answer
What is the impact of a deficit budget on the A deficit budget may encourage spending current account? on imports and reduce a surplus in the current account.
Please note that the answer contains a reason. This is analysis, which is an important skill to develop as part of your course. If you feel the addition of a simple picture helps you remember, add it in. 2 The process Once you have created the flash cards, you need to use them effectively. Try to answer the question on the front of the flashcard and then turn it over to see whether you have the correct answer. You will get the answers for some of the cards correct and some incorrect. The method below is an adaptation of the Leitner system that helps to improve your memory. • Create three boxes or envelopes to put your flash cards in. • Label the first box ‘Every day’. • The second box ‘Tuesday and Thursday’. • And the third box ‘Friday’. When you have created your flash cards, you put them all in ‘every day’ and you test yourself every day. All the questions that you get correct you put in ‘Tuesday and Thursday’. Move your correct answers until you only test yourself once a week – success!
However, if you get an incorrect answer, you should move it back a box.
Repeat this process until you have complete success and then review as needed.
Below is a table that you can fill in using your Coursebook and your notes from lessons. When complete, each row should contain the information that you can summarise and put on your flash cards. The first row has been completed as an example.
Government policy Impact Effect on current account Example
Fiscal deficit Increases aggregate demand, If spending is increased on The USA often runs a fiscal may encourage consumers to imports, it will reduce a deficit and has a deficit on purchase more imports. surplus on the current the current account of the account or increase a deficit balance of payments. on the current account.
Fiscal surplus
Central bank increases Interest rates.
Government announces an expansion of the railway network.
