OCR Economics F585 June 2012

Original post by forex

Theory wise yes. Exam wise no.

lol so true
how do u revise for it

Reply 23

Original post by wwelol

well done bro - 100% i got 85%

yeh im finding it difficult to revise for f585 - its more harder to like just memorise things if u now what i mean
do u use the green ocr A2 textbook to revise ?

yeh i got 5 exams lad but the f585 is quite late in june 20th

how r u revising for it ???

nice one for getting 85% man!
Yeah I have the heinemann textbook, I think its got chess or dominos on the front, one of the two. I revise by just going through the textbook, try to re-write 5 pages atleast a day. If you do that, it means it only takes you about 20 days to clear this unit. But if you double that to 10pages a day, only 10days to clear the unit. I find that writing stuff down is the best way to remember stuff. Like I have just cleared the first chapter of this unit and I feel like I remember it all pretty well. Going on to trade today.
I need to go for the A* though incase my maths lets me down. Need a B in maths but my teachers are ****.

Reply 24

Original post by owen1994

yh same here my teachers suck
yeh thats wat i try to do

so ill test u -
what is a cyclical deficit?

Reply 25

Original post by wwelol

yh same here my teachers suck
yeh thats wat i try to do

so ill test u -
what is a cyclical deficit?

Cyclical deficit is where a government deficit occurs because of the way automatic stabilisers react during different periods of the economic cycle. For example during a recession part of the economic cycle aggregate demand tends to be lower due to lower consumption, lower consumer expenditure means less tax reciepts generated through taxs levied on the consumption of goods and services(indirect tax), and lower levels of consumption will tend to lead to lower levels of revenue and profits generated by firms. This, in turn, will mean that direct taxs will also be lower in terms of corporation tax.

During recessions cyclical unemployment also occurs resulting in higher government expenditure on unemployment related benefits. So overall a cyclical deficit occurs due to operation of automatic stabilisers over periods of the economic cycle (usually a slump or recession). This creates a positive PSNCR (Public sector net cash requirement) as the gov needs to borrow money to cover the deficit. But this could result in crowding out as less money and higher interest rates for private sector borrowing.

All of the above from memory. I did this either yesterday or the day before. Like I said I work my way through the book trying to do 5-10pages a day. Up to 245 now.

Now here is your turn. What is meant by the Hecksher-Ohlin theory of international trade. (sounds hard as fuark if you haven't already done it haha)

Reply 26

lol well done bro ure on it - very detailed

ive not done tht yet im still on 1st chapter
moving on to trade soon

i gt a Q - how does fiscal and monetary policy create economic stability and internartional competivivness ?

and when u say u 5-10 pages do u use the book and just copy out like in detention doing lines?

Reply 27

Original post by wwelol

I just rewrite it all, but some parts like examples don't need to be copied. But most of it I re-write. Depends on how lazy I am feeling. Only did 3 pages today though, in a cba mood recently.

Fiscal policy can create economic stability through the use of automatic stabilisers. Automatic stabilisers refers to automatic changes in government expenditure and taxation depending on stages in the economic cycle. They help create economic stability because it reduces inflationary pressure during the boom phase, this is because it removes some of the additional spending out of the circular flow of income in the form of taxes. Thus helping to keep inflation under control, this will mean UK industrys are more internationally competitive than they would otherwise be in relation to other countries.

Domestic firms will be more willing to invest knowing that prices are rising less rapidly. It may also help attract foreign direct investment.(this will also help achieve a satisfactory balance of payments position if investment is for export-led growth) Either way, additional investment will increase the economy's productive capacity, further reducing the threat from demand-pull inflation and aiding long run economic growth. On the other hand, however, if the economy were to shift into the recession phase of the economic cycle, automatic stabilisers will limit the negative effects of lower levels of aggregate demand/negative economic growth. It will reduce cyclical unemployment as income related benefits will rise helping to restore some of the lost demand. (Bad explanation). Thus creating economic stability.

Monetary policy - I could write for ever so I better leave it at that.

Can you tell me what I should of included, I have little confidence In what I just wrote.

(edited 12 years ago)

Reply 28

anyone got the tutor2u toolkit for this yet?

Reply 29

Original post by GOLFWANG

anyone got the tutor2u toolkit for this yet?

its not out yet
were geating it after easter

Reply 30

Original post by wwelol

its not out yet
were geating it after easter

http://www.tutor2u.net/acatalog/OCR-A2-Economics-Unit-F585-June-2012.html

its been released, thats the link to it above.

thanks for the reply though

Reply 31

Original post by GOLFWANG

http://www.tutor2u.net/acatalog/OCR-A2-Economics-Unit-F585-June-2012.html

its been released, thats the link to it above.

thanks for the reply though

my teacher said its not out yet
its a bloody rip off thoo

have u got it??

Reply 32

Original post by wwelol

my teacher said its not out yet
its a bloody rip off thoo

have u got it??

nah i don't think my class is gonna get it, and i don't really want to pay £50 individually, so i was hoping someone on here would be able to send me a link to it on mediafire or something

Reply 33

Original post by GOLFWANG

nah i don't think my class is gonna get it, and i don't really want to pay £50 individually, so i was hoping someone on here would be able to send me a link to it on mediafire or something

oh lol
is ure college not getting it ?

what q's do u think might come up
have u started revision ?

Reply 34

Original post by wwelol

oh lol
is ure college not getting it ?

what q's do u think might come up
have u started revision ?

i don't think we will be getting it.

i think the extract is quite broad and will cover a lot of topics, so I'm really not sure what will come up haha

and iv sorta started revising haha

Reply 35

Original post by GOLFWANG

i don't think we will be getting it.

i think the extract is quite broad and will cover a lot of topics, so I'm really not sure what will come up haha

and iv sorta started revising haha

wat did u get in transport paper
and how do u revise?

Reply 36

TheSelfAcknowleged

Original post by owen1994

Are you revising the whole global economics section? My teacher told me there's not much point in using it as we should gather information from the extract and only refer to the textbook explicitly, instead of just reading it independently.
I don't suppose your teacher told you what areas of the book to revise for each extract? Are you just reading it independently of studying, or are you reading up only areas relevant to the extract you are focusing on in class?

What is your plan? I've started revising (I've done the first section) but I'm not sure what to revise within the book.

Reply 37

Original post by TheSelfAcknowleged

yeh im still on first section , i justed started trade
im going through it all and then pick out points from extracts

the first 3 extracts are mostly on monetary policy and inflation so its the first section

wat did u get in transport paper ?
how do u revise ?

Reply 38