OCR Economics F585 June 2012

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Original post by Clare1994

But surely because it's not a massive topic than it's less likely to come up as a 20 marker although then again you probably could write a 20 minute answer on it haha But still spending about 40 mins on a essay just to do with tariffs or quotas seems ridicules!!!

Those sorts of questions would be about sustainable development or growth or globalisation rather than tariffs. All you'd have to do would be the same essay as you'd normally do but apply tariffs or quotas to different aspects of growth, sustainable development ect. All you'd need to know is what tariffs are and what they do and you could also bring in other protectionist methods to compare.

Looking past papers, nothing like that has come up yet (where you're given one thing to apply to another) and its most likely you this kind of thing won't happen.

Reply 241

Clare1994

Original post by Placebo101

ahh fair enough :smile:

Reply 242

Azza919

If anyone could share with me any notes, tips or guides I would be SO grateful. My teacher is horrendous and I'm really worried for the exam. I feel like there's far too much I need to know, and I'm resitting Work and Leisure AND National and International Economy.

So worried. :frown:

Reply 243

Placebo101

Original post by Azza919

PM me and I can send you notes on the Tutor2u guide to this exam. I'll soon upload my notes on all the theory you need to know here (it's less than you think!) so you can use those.

The paper is synoptic, so resitting Work and Leisure will give you the edge on this paper. You'll know everything already for F582 from what you've learnt from this unit so it really shouldn't be too bad :smile:

Reply 244

Azza919

Original post by Placebo101

Thanks, done!

Reply 245

Clare1994

Original post by Azza919

Jesus that's a lot to resit! I refused to resit work and leisure i knew i wouldn't get higher than a C in that paper just to much to learn!

Reply 246

Azza919

Original post by Placebo101

life saver, thanks so much for this!

Got the toolkit xD

Original post by kingshan16

Can some please I am begging give me a list of thing they are revising because I have done zero revision for this unit so far. Because I have zero idea what to revise.

My school will not buy the tutur2u pack and I cant afford it. I finished the whole of transport. But really need to start this since we got like 7 and a half weeks left?

I am struggling badly and whats even bad is my teacher never turns up and she her self does not know what is the jey things to revise.

Please. Thanks

Hey Do you want the toolkit mate?

Reply 249

CMPUNK

Original post by dannydyer

Same I would be eternally grateful if anyone could send me the toolkit

Thanks

I got it tell me if you like it

Reply 250

Placebo101

Original post by CMPUNK

I got it tell me if you like it

I'm not sure if you're actually allowed to upload it here. It is probably copyrighted, y'know and worth £50 :pinch:

Reply 251

Executioner

Original post by CMPUNK

I got it tell me if you like it

Hey, can you please send it to me? thanks :smile:

Reply 252

patra

Original post by CMPUNK

I got it tell me if you like it

Me too please :smile:

This was posted from The Student Room's iPhone/iPad App

Reply 253

chocolate_monster

Is the toolkit similar to the APT notes?

Reply 254

username854791

Wait didn't you guys already have an exam on friday?

Reply 255

Clare1994

Original post by Future_Dr

Wait didn't you guys already have an exam on friday?

that was F581 :L

Reply 256

Clare1994

Can anyone help me with this possible 20 marker given to me by my teacher?
Discuss the extent to which the rare earth's export ban is likely to lead to sustainable development in China.
Also can someone suggest to me how i would set the essay out because I'm not really sure what the best way to set out a essay like this is.

Reply 257

Groat

Original post by Clare1994

Hmm, that's a strange question. Explain why a quota of China's rare earth exports would benefit sustainable development in China. Then argue why this may not occur.

Thoughts on the question below?

Discuss the costs for the global economy if China place a quota on their exports of rare earths.

(edited 11 years ago)

Reply 258

NewCrack

Original post by Groat

Discuss the costs for the global economy if China place a quota on their exports of rare earths.

Intro.

Briefly explain that chinas natural factor endowments allowed it to have majority of rare earth deposits. Explain what rare earths are used for. Global economy will suffer because of it's dependance on China for such resources. Costs can include: Imported inflation, lower economic growth, balance of payments position altered. (retaliation???).

P1

Draw a tarriff diagram, China price = world price
(essentially as it posses like 95%+ deposits)

Analyse diagram

government revnue increases
deadweight loss, contraction in demand extension in supply.

P2

Will lower economic growth ( external demand decreases). China is aiming to lower it's growth rate so it may be beneficial, aiming to penetrate the benefits of growth for society.
Economic growth that is export led can be dangerous if the global economy is in crisis. China responds to this by shifting it's main component of growth X to C.

P3

Foreign economies will likely suffer the burden of higher costs. Why? China is effectively a monopoly in this market. It controls prices.
This could result supply side shocks. EU is in a mess.
With already deteorating US-China relationship this could create further tension.
Possible retaliation. - What good will this produce?

P4

BoP position. Current account surplus reduces. However:
- marshall lerner condition must hold
- Possibly a strategic move made by china to encourage firms to offshore to avoid the qouta.
China suffers little in the sense that this may bring in flows from capital account.
Loss of jobs abroad?

P5/ Conc?

An essence of 'trade diversion' being invoked. Emerging economies may become new manufacturing hubs and replace China. Vietnam is said to have deposits of rare earths, yet to be extracted. So global economy is simply shifting its trading pattern. If vietnam has no qoutas then China will lose out on FDI. Despite this China is becoming a nation that is demanding more of the worlds resources.

Please input would be nice! I don't think i'm tackling the question directly. :frown:

Reply 259

Bwob

^ why would you draw a tariff diagram, if the question asks about a quota?