Edexcel Economics Unit 4: 20th June 2012

Chose the 3rd essay about globalisation which went expectedly well. Didn't really encounter any major problems with it. Then picked the 2nd data response, related to the budget deficit. Struggled with the second question, which wanted to know why countries outside the eu experienced more promising growth rates in comparison to eu member countries. Does anyone have any solid points with regards to this question? All i remember writing about is that since some eu countries are performing poorly, any demand for foreign imports will subsequently fall. In turn, trade between the countries will deterioate, having a knock-on effect upon other eu countries. More importantly, though, the imposition of a common external tariff will restrict free trade with outside countries, further hampering any potential trade. Might have thought of a few more points but can't remember at the moment.

Anyone do the Globalisation essay?
Something like:
a) Assess the significance of Transnationals in increased Globalisation

b) To what extent to the costs of globalisation outweigh the benefits.

I think my answers are wrong but i wrote
- maybe outside the eu different sectors are more important for example eu countries relied more on manufactured sector " collapse in construction activity " i quoted. Whereas uk is more on financial services which are less income elastic and so in the reccesion eu is worse of
-talked about single currency within eu and fears of greece defaulting hence lower growth due to capital flight and lack of investment as investors feared their assets losing value overnight
- at the end i quickly added that house price falls were huge in eu so neg wealth effect causing low consumption society

Evaluation was tooo rubbish and hard!

Chose the 3rd essay about globalisation which went expectedly well. Didn't really encounter any major problems with it. Then picked the 2nd data response, related to the budget deficit. Struggled with the second question, which wanted to know why countries outside the eu experienced more promising growth rates in comparison to eu member countries. Does anyone have any solid points with regards to this question? All i remember writing about is that since some eu countries are performing poorly, any demand for foreign imports will subsequently fall. In turn, trade between the countries will deterioate, having a knock-on effect upon other eu countries. More importantly, though, the imposition of a common external tariff will restrict free trade with outside countries, further hampering any potential trade. Might have thought of a few more points but can't remember at the moment.

That is why I like finishing every question before I move on. When I finished, I just went back to the 30 marker and tried adding some random stuff in the hope of marks.

Hope you make your Notts offer!

yeah got into harvard yale and stamford.

Chose the 3rd essay about globalisation which went expectedly well. Didn't really encounter any major problems with it. Then picked the 2nd data response, related to the budget deficit. Struggled with the second question, which wanted to know why countries outside the eu experienced more promising growth rates in comparison to eu member countries. Does anyone have any solid points with regards to this question? All i remember writing about is that since some eu countries are performing poorly, any demand for foreign imports will subsequently fall. In turn, trade between the countries will deterioate, having a knock-on effect upon other eu countries. More importantly, though, the imposition of a common external tariff will restrict free trade with outside countries, further hampering any potential trade. Might have thought of a few more points but can't remember at the moment.

76 for an a*? When has it ever been that high...?

I struggled with that one too! But I think the point I focused on most was how the Eurozone countries had a set monetary policy for all of them, whereas the UK can chose a monetary policy that would increase growth (0.5%) and used examples from the text like Germany would need to have high and italy perhaps low? But the question was so ambiguous I really think what you wrote was fine, I was annoyed at myself at the time for not being able to think of anymore points and my evaluation was poor

For that question do you remember if you had to compare eu member to non ey member in eurozone e.g. Uk or anywhere outside eu e.g China/ India

For that question do you remember if you had to compare eu member to non ey member in eurozone e.g. Uk or anywhere outside eu e.g China/ India

That's the thing I used comparative advantage on part A so couldn't use it on part B. so I used other benefits such as cheaper prices more employment and another benefit.

And yh timing was bad for me too I was worried I got the part A and B completely wrong. Ended up missing the 10 marker on capitalism.


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No you can't use China/India, it was countries in the EU but not in the Eurozone.
I think they mentioned Britain, Sweden and Poland in the question or somewhere in the extract.

Question was okay, I know one of my points was the fact that these countries had independent monetary policies, and I mentioned Eurozone having strict convergence criterion on the level of Fiscal Deficit as a percentage of GDP.

I did Q3 the one in globalisation but I think I completely messed up.

Part A was asses the significance of TNCs for the increase in globalisation?

I did this :
Talked about TNCs and how they help globalisation and what not.

Talked about other things that increase globalisation. Like cheaper transport

3rd point was the increase in trade linearisation i.e WTO getting rid of barriers and talked about comparative advantage specialise in goods etc etc.

And then evaluated each point.
What I'm concerned about is part b said outweigh the costs and benefits or something long those lines. So was I meant to talk about comparative advantage in the second part or first??
Are my points valid for part A?


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I'm sure in the past two years it has been 74 and 73. Should be around that again. Should be around 80 for 120UMS which I need close to fml.

does any one remember question 5? part (b),(c) and (d),many thanks.

No you can't use China/India, it was countries in the EU but not in the Eurozone.
I think they mentioned Britain, Sweden and Poland in the question or somewhere in the extract.

Question was okay, I know one of my points was the fact that these countries had independent monetary policies, and I mentioned Eurozone having strict convergence criterion on the level of Fiscal Deficit as a percentage of GDP.