Here are the instructions that I have included on the first page of the ECO 5315 final exam booklet. I have explained the structure of the exam on a couple of other previous occasions, but since I continue to receive emails about this, I thought that it might be a good idea to publish this information prior to the exam itself. Anyway, please look this information over and make sure that you understand it. There is no reason why anyone should “surprised” about the exam’s structure per se.
“This test consists of 3 sections. Each section has 15 questions and problems, and each is worth 3-1/3 points. The first section is based upon chapters 11 and 13-15. The second and third sections include questions and problems taken from chapters 1-2, 4-7, and 10 (section 2) and from chapters 11 and 13-15 (section 3). At your option, you may either answer sections 1 and 2 (in which case your exam is based upon all chapters covered in ECO 5315) or sections 1 and 3 (in which case your exam is based upon only chapters 11 and 13-15). If time permits, you may also answer questions in the section that you otherwise plan to omit (i.e., section 2 or section 3). However, the most credit that you can earn on this exam is 100 points, which will occur if you answer 30 questions correctly.”
I will start the exam promptly at 6 p.m. on Monday evening, and the exam will end by no later than 10 p.m. While it’s totally up to you to decide upon your preferred exam strategy, I nevertheless have some advice to offer. If you have studied for a comprehensive exam based upon chapters 1–2, 4–7, 10–11, and 13–15 in the textbook, then I recommend that you focus your attention upon sections 1 and 2 in the exam booklet. However, if you have studied for a final exam based only upon chapters 11 and 13–15, then I recommend that you focus your attention upon sections 1 and 3 in the exam booklet. Once you have completed 2 of the 3 sections, you are welcome to either turn your exam in or try answering questions and problems listed in the “omitted” section. Even if someone manages to solve all 45 questions correctly, the highest credit available for the exam is 100 points (although I would surely be impressed if this were to happen :-)).