AQA Economics UNIT 2 23rd May 2016

im resitting this paper as i got a D in it last year but i hate unit 2 and i am so stressed about it!

any predictions or topics that are likely to come up?

appreciate your replies x

Reply 1

gandalf029

Original post by Angel_xo

im resitting this paper as i got a D in it last year but i hate unit 2 and i am so stressed about it!

any predictions or topics that are likely to come up?

appreciate your replies x

It seems to be that AQA choose their extracts about 12-18months before the exam, so it may be worth having a look at what was in the news in early 2015

Reply 2

gandalf029

I've got a feeling their may be something on the world oil prices beginning to slump.
Timing seems to fit in very well with when the write the exams.

Reply 3

NotoriousS

7

Hey! I'm also retaking since I got an E last year.....

My teacher thinks possibly a question to do with monetary policy may come up

Reply 4

sheelo73

8

im retaking as i got a B last time but i need an A to study it in uni :frown:

]

im using some youtube videos along with the cgp revision guide

Reply 5

NotoriousS

7

How is everyone approaching the 25 mark essays?

Help would be really appreciated

How did you guys find it?

Posted from TSR Mobile

Reply 7

harrydunn11

3

Original post by Edminzodo

How did you guys find it?

Posted from TSR Mobile

Mmm not bad :redface:

multi choice was quite difficult, did context 1. 5, 8 and 12 markers went ok. For 25 marker I said AD would shift because lower value of pound causes improvement of current account by exporting more and importing less. Unemployment falls and GDP increases, inflation also increases then showed a diagram of AD shifting right. For some reason decided to talk about LRAS shifting to the left as Extract C said a fall in pound would lead to decrease in standard of living so I said workers would be demotivated so productivity falls therefore LRAS would not grow as much or shift left as shifting left is easier to show on diagram. This then results in a positive output gap so more inflation but high employment (is that all right?). You can evaluate all this by saying the amount of inflation and employment there is depends on how much spare capacity the economy has I.e where AD is on the LRAS curve.
What did anyone else write?

Reply 8

samm98

6

Anyone got any advice for timings? I always do well on everything but the 25 marker and it's not because I can't do it, I just never seem to have the time which i feel is really limiting my grade :\

Reply 9

Jibzy16

6

I did section A.

For the bar chart, I didn't leave any space between the months, don't know if I would lose marks for leaving no space.
I got like -43.8% for the difference in world prices for calculation.

For the 10 marker question about stronger pound, I mentioned imports being cheaper (AS shifts right), and exports get dearer (AD shifts left) hence a fall in price level, which means a fall in inflation. Didn't really know what else to write there, I didn't refer to context for that question really.

Then when it came to the 25 market I talked about the macroeconomic objectives, that the govt wants to improve BoP Current Account Deficit, Low unemployment etc.
I mentioned that if imports are cheaper then the deficit would get worse, which would go against the UK Government's reduction.

I said that the 13% fall in fuel cost links in with the supply-side policy, as firms are able to transport more productively, so I showed LRAS shifting right and thus increasing output.
I talked about it increasing the productive potential etc, reducing unemployment. I also mentioned the downside to it, that firms extracting oil/gas would have less revenue, thus less investment and showed a leftward shift in AD. I talked about it leading to cyclical unemployment. as the demand for labour will reduce, you could talk about recessionary gap/mention that it would have a worse outcome.

Reply 10

Rubberbandit

6

Anybody do context 2? :/

Reply 11

Roxyfreeman

1

I got -41.42 for the percentage change because I did the 2015 March amount minus the sept 2015 amount and divided by the September 2015 amount

Also for the multi choice q about shifting demand rightwards did people say this was due to an increase exports or due to an increase in the deficit?

Reply 12

Conquest.

4

Original post by Roxyfreeman

I got -41.42 for the percentage change because I did the 2015 March amount minus the sept 2015 amount and divided by the September 2015 amount

Also for the multi choice q about shifting demand rightwards did people say this was due to an increase exports or due to an increase in the deficit?

Was the answer negative?

Reply 13

Azim101

13

Original post by Jibzy16

I did section A.

For the bar chart, I didn't leave any space between the months, don't know if I would lose marks for leaving no space.
I got like -43.8% for the difference in world prices for calculation.

For the 10 marker question about stronger pound, I mentioned imports being cheaper (AS shifts right), and exports get dearer (AD shifts left) hence a fall in price level, which means a fall in inflation. Didn't really know what else to write there, I didn't refer to context for that question really.

Then when it came to the 25 market I talked about the macroeconomic objectives, that the govt wants to improve BoP Current Account Deficit, Low unemployment etc.
I mentioned that if imports are cheaper then the deficit would get worse, which would go against the UK Government's reduction.

I said that the 13% fall in fuel cost links in with the supply-side policy, as firms are able to transport more productively, so I showed LRAS shifting right and thus increasing output.
I talked about it increasing the productive potential etc, reducing unemployment. I also mentioned the downside to it, that firms extracting oil/gas would have less revenue, thus less investment and showed a leftward shift in AD. I talked about it leading to cyclical unemployment. as the demand for labour will reduce, you could talk about recessionary gap/mention that it would have a worse outcome.

wasnt the percentage question -41.42%?

Reply 14

Roxyfreeman

1

Original post by Conquest.

Was the answer negative?

Yeah because the price of energy decreased so the percentage change has to be negative

Reply 15

Accountantlolks

2

Original post by Rubberbandit

Anybody do context 2? :/

Yeah me. But I'm so annoyed. I thought 400.6 thousand was 4006000

Reply 16

Roxyfreeman

1

Original post by Azim101

wasnt the percentage question -41.42%?

Yeah I think it was that's what I got

Reply 17

sharmonraja

2

Original post by Roxyfreeman

I got -41.42 for the percentage change because I did the 2015 March amount minus the sept 2015 amount and divided by the September 2015 amount

Also for the multi choice q about shifting demand rightwards did people say this was due to an increase exports or due to an increase in the deficit?