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AQA A2 Economics Unit 4 (ECON4) June 23rd OFFICIAL THREAD

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I'm confused, could someone please state which paper came up last year and link it

and also the question paper which was meant to come up but didn't?

thanks

Reply 81

16characterlimit

Can someone explain the process of QE?

Reply 82

sukhraj7

Original post by Paddyyyy

Was this the paper that wasn't tested?

Yeah I think so because it isn't called ECON4R (which people were tested on last year). It's just called ECON4. If you go on the AQA website there's two mark schemes under the June 2015 section.

Reply 83

Kitkat5

Original post by geogexpert

My predictions:
1. Deflation.
2. Something on the impact of the recent Chinese slowdown.
3. Low oil prices.
4. Join the EUROZONE?- n.b. I think they might stick this in to confuse students with the EU. This question hasn't been asked since 2010 I think and is highlighted on the spec.
5. Enlargement of the EU?

wait, what's the eurozone? lol
this question came up in 2013 as well, I thought the UK was in the single market.. :
1 2 Evaluate the possible economic costs and benefits to anEU member state, such as the UK, of being part of the EU single market.

Reply 84

GCSEgirl13

Original post by sukhraj7

Yeah I think so because it isn't called ECON4R (which people were tested on last year). It's just called ECON4. If you go on the AQA website there's two mark schemes under the June 2015 section.

so basically this was the paper that came up last year? http://filestore.aqa.org.uk/subjects/AQA-ECON4R-W-MS-JUN15.PDF

could it the be a possibility that this years questions could be similar to the paper that was meant to happen last year?

Reply 85

Kitkat5

Using the data and your knowledge of economics, evaluate thelikely impact on the UK economy of ther EU countries attempting to reduce theirpublic sector debt at thes same time - how would you guys answer this?

Reply 86

outofsync

Topics i'm going to be revising

A. Economic growth/living standards/and even development (Yes, even for AQA. They can be sneaky)
B. The effectiveness of monetary policy (with contrast to fiscal policy of course)
C. UK's poor performance in export led growth (basically how to improve high tech manufactures)
D. Falling commodity prices/Oil prices globally
E. Chinese slowdown
F. Trade diversion/Protectionism

I have made the decision to not revise the EU in depth. I don't think they will ask us, it's highly topical and also highly political and i think they'll want us to stretch our minds and use economic toolkits rather than copy and pasting infomation we've read in the media.

Again, i won't be revising unemployment, current account deficits, exchange rates etc in huge detail but will of course be ensuring i know the theory.

Hope this helps anyone and good luck

Reply 87

sukhraj7

Original post by GCSEgirl13

Yeah and I'm not entirely sure. It could be possible but you can never be sure with AQA. If they did make questions similar to the paper that was meant to be taken last year I don't think they would have put up the mark scheme for the original paper, but the actual question paper itself isn't on the website which is strange lmao.

Reply 88

harrycarry

Original post by 16characterlimit

Can someone explain the process of QE?

Quantitative easing became one of the main policy instruments of the Bank of England after the financial crash of 2008. It basically works on the basis of increasing the money supply to the rich, through increasing credit etc., in the hope that they increase spending which therefore stimulates aggregate demand as consumption increase. This in turn would help stimulate economic growth and reduce unemployment as there would be more people needed to produce these goods, ceteris paribus. The BoE increases the supply of money by buying securities/bonds/assets back which means that the money they were holding is now available. You can use a money supply/interest rates diagram to show this by shifting the vertical MS to the right and so the price/interest of money has fallen.
However, Quantitative Easing is very expensive and works on the trickle down effect which many people just makes the rich richer...
Furthermore, some economists argue that there is very little evidence it is working as well as it could cause inflationary pressure as it is a demand management policy (increasing aggregate demand). As well as this "QE it takes £375 billion of new money just to create £23-28bn billion of extraspending in the real economy" which many economists believe is an inefficient and time wasting policy. However, with low interest rates, at 0.5%, the bank has few other options to try and stimulate the economy.

(edited 7 years ago)

Reply 89

Nutcaserob

Original post by GCSEgirl13

I doubt it due to how available they are online, it wouldnt make sense for they to use these questions.

Reply 90

Alextaylor6

i can't wait until this **** is over, feelsbadman

Reply 91

meimaths123

I think most likely topics are

Inflation
Exchange Rates
Eurozone e.g single currency
Mosst of the macroeconomic objectives

Reply 92

Kitkat5

Do you think they'd ever ask about the impact of OTHERs leaving the EU- how would that impact the UK?

Reply 93

MrT123

Any last minute predictions so i can revise those topics?

Reply 94

Paddyyyy

Can someone help me plan an essay regarding a slow down in Chinese economic growth and falling oil prices?

Reply 95

lahorizon

Can someone explain what these two bullet points mean?

The question was:

In March 2011, the UK Office for Budget Responsibility (OBR) forecast that the budget deficit wouldfall from 7.9% of GDP in the financial year 2011–2012 to 1.5% in 2015 –2016.

Discuss whether the UK Government should either raise taxes or cut government spending to achieve its 2015 – 2016 fiscal objective. (25 marks)

and in the mark scheme under evaluation there is what is attached. I don't understand the first bullet point in particular.

Screen Shot 2016-06-22 at 17.43.36.png31.0KB

Reply 96

Roses98

Original post by Kitkat5

Do you think they'd ever ask about the impact of OTHERs leaving the EU- how would that impact the UK?

I thought whether Greece should or should not leave the EU may come up :smile:

Reply 97

Kitkat5

Original post by Roses98

I thought whether Greece should or should not leave the EU may come up :smile:

Yeah that's what I was thinking! that would be a really good question! how would you answer it? :/

Reply 98

SimranAli

Very doubt anything about leaving the Eu would come up because it is such a predictable topic this year with the whole referendum going on

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Reply 99

Kitkat5

Original post by SimranAli

Very doubt anything about leaving the Eu would come up because it is such a predictable topic this year with the whole referendum going on

Posted from TSR Mobile

Quite difficult though- when was the referendum planned? Because they make the papers in advance- apparently like 18 months beforehand