OCR Economics F585 June 2012

Two links for a teacher summary of the pre-release:

http://www.youtube.com/watch?v=p6NAjPXv5-A&feature=g-upl [Intro]

http://www.youtube.com/watch?v=d-BNv3VSSVY&feature=g-upl [Extract 1]

Thoughts?

Extract 2: http://www.youtube.com/watch?v=3HzfqwFX6X0

Extracts 3 and 4 in the works....stay tuned.

I will post them here when they are finished.

For students - would really like to know the most effective techniques used by your teachers to teach F585 and also how you are finding the toolkits?

Enjoy!

toolkits suck tbh

if china ban rare earths - this may lead to an increase in fdi into china from MNC's - this will improve the current and capital account
am i right ?

i am really really scared of this unit

You should be fine as long as you read the extracts and make a list of all the key factors. To be honest, I only use the toolkit for finding specific words that I don't understand, e.g. austerity or quantitative easing, as they usually show a definition. The questions that the toolkit offers are also quiet useful, because in Global there are no past papers to work from. However, other than those areas, I do not use the toolkit much; mainly rely on the extracts themselves.

I think that's the best strategy. You can get a good idea of what to expect reading through them and aligning the extracts against the spec.

I'd also highly suggest preparing a toolkit of various diagrams and concepts to use by extract. This will help you with your analysis and evaluation.

I'll be putting up a list of questions on the YouTube channel by extract soon and hope to provide some further guidance.

Hey, just watched your video, very helpful. However, what I want to know is whether the ban of Chinese rare exports helps or hinders global sustainability. If I had this in a question, I would probably write down in the exam that certain rare earths are used to produce renewable resources and Eco-friendly products. As an evaluative, I would say that using these resources would leave future generations far less of these rare earths to use.

The problem is that I do not feel this evaluative point is valid because surely if firms are producing renewable resources and energy-efficient resources than that should improve global sustainability. The point itself is probably not valid lol.

Oh btw, have you uploaded a vid on extract 4?

Reading from previous posts it seems to me that, instead of memorizing all my notes from the unit, I should instead assign topics to each extract (E.g. sustainable development to Extract 4) and then therefore only memorize certain topics. I would then forget about topics that have nothing to do with any of the extracts... or is this wrong?

My teachers didn't really tell us how the exam is set up. Is every single question based (even loosely) on the extracts? Or could there be a random question that has nothing to do with any extract?

Would appreciate some feedback, finding it difficult to sort myself out for this exam!

Thanks

Extract 4 video now complete and uploaded: http://youtu.be/ZQVrDZg_h-0

I love you for this!!!

Do you have any ideas of questions you think will come up. I'm really stressing about this exam, I feel like I don't know anything.
Also, what diagrams do we need? I was thinking just phillips curve, taxation/subsidy and as/ad?

Glad I could help. Your question is what I'll seek to address when I put the extract 4 video together. To briefly answer, you argue that limiting the global supply of rare earths may decrease the amount of renewable resources and eco-friendly products created outside of China. You could evaluate that argument along the lines of how much the production of these renewable resources and eco-friendly products are actually dependent upon the Chinese supply of rare earths. Additionally, we're holding constant that nobody else decides to mine for rare earths and compensate for China's restrictions - which may very well NOT be the case.

It's a bigger answer than just that, but it's my next big area to tackle.

I've got extract 4 to post up and then I'm going to create a list of questions from each extract. I'll post the responses I get online as well to show you some exemplars.

Enjoy!

Oh ok. Thanks again for the extracts btw, we are all grateful to have someone that's willing to help out for global, as I find this unit considerably challenging, not as much as transport but still

I was wondering, can you really talk about market failure for F585? its more emphasized on micro-economics

To answer your question, my teacher said that examiners will credit f581 analysis so for example a negative externality diagram if appropiate just like any other f585 concepts.( so for example Tragedy of the commons).