AQA A2 Economics Unit 4 - June 20th
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Ok so i understand the general concept of monetary policy its pretty easy but ..open market operations, monetary base controls,bonds and the general controlling of the money supply and how they do it Dafaq?? 
someone willing to explain?
someone willing to explain?Original post by howag
2 quuestions here:
The level of Uk public sector spending grew from 37% of GDP in 1997 to over 45% in 2008To what extent do you regard such an expansion of the public sector as beneficial to the uk economy.
Discuss the view that the main reason for a country wanting to achieve sustained economic growth is to bring about an increase in private sector consumption.
Both 25 marks.
The level of Uk public sector spending grew from 37% of GDP in 1997 to over 45% in 2008To what extent do you regard such an expansion of the public sector as beneficial to the uk economy.
Discuss the view that the main reason for a country wanting to achieve sustained economic growth is to bring about an increase in private sector consumption.
Both 25 marks.
The first question is saying the government spending/expenditure increased (assuming GDP increased). The spending could have been like the government nationalising industries or spending more on the NHS or more on education or defence basically merit and public goods.
The second question is asking if there was sustained growth how would non-government consumption increase be affected.
Original post by joshgoldman
My prediction is based on what the tutor2u revision workshop covered. For the ECON3 workshop every single topic they covered came up... might just be luck but y'know!
Oh wow, so they must get one out of the three correct. How would you structure essays for 'prospects for UK economy' and did they give you any indication of what the eurozone question might be? Would it be something like "what would the impact be on the UK economy if a Eurozone break up were to occur?"
Thanks!
Original post by tarek1
These are basically a list of everything you need to know for AQA unit 4. If you can answer all these questions, then you should be good for the exam, providing the structure is good. I've done the same thing for Unit 3 so have a look on that thread.
Chapter 11
Measure of economic growth.
What is the PPB curve.
What is the economic cycle.
How to generate economics growth, (supply and demand side factors)
How to improve physical capital.
Factors that increase activity/ productivity in the economy.
Factos that reduce the productivity rate.
What are the drawbacks of using GDP as a measure of living standards.
Alternatives to national income, NI.
Is economic growth sustainable.
Explanations of the economic cycle.
What is the multiplier effect.
Chapter 12
How to measure inflation.
Limitations of CPI.
Causes of inflation.
Explain the quantity theory of money, and state the formula.
Types of deflation.
Chapter 13
How to measure unemployment.
Types of unemployment.
Causes of unemployment.
Drawbacks of unemployment, (social and economic costs)
Benefits of unemployment.
What are the demand side factors to reduce unemployment.
What are the supply side factors to reduce unemployment.
What is the phillips curve and explain why the Long run phillips curve is vertical.
What is the Non accelerating inflation rate of unemployment.
What is stagflation.
Chapter 14
Reasons for taxation.
Types of taxation.
What is Adam Smith's law of taxation, 'cannons of taxation'.
Benefits and drawbacks of indirect taxation.
Types of government expenditure.
What are balanced budget, budget deficit and budget surplus.
What is the fiscal stance and draw the graph.
Explain the term public sector net cash requirement.
Benefits and drawbacks of a budget deficit.
What are the main fiscal rules.
What are the limitations of the fiscal policy.
Chapter 15
What are the two main types of money.
What effects demand for holding money.
Types of assets.
Types of interest rates.
What are the main functions of money.
What are the main objectives of the Central bank.
What are policy indicators and instruments.
Chapter 16
Types of exchange rate systems.
Benefits and drawbacks of floating exchange rate system.
Factors that effect the exchange rate.
What is foreign direct investment.
What is Hot Money.
What is a fixed exchange rate system.
Types of fixed exchange rates.
Benefits and drawbacks of a fixed exchange rate.
Chapter 17
What is the difference between the current account and the financial account.
What are the three main components of the financial accounts.
Does a current account deficit matter.
What policies are used to deal with a deficit in current account.
Explain the J-curve.
Policies to control and current account surplus.
Chapter 18
What are the factors that have contributed to globalisation.
Benefits and drawbacks of globalisation.
What are the needs and wants of developed and developing countries.
What is the Marshall Lerner condition.
Arguments for and against international trade restrictions.
Types of restrictive trade practices.
Chapter 19
What is the structure of the EU.
Why was the EU formed.
What is the single market.
What are the benefits and drawbacks of the single market.
How to increase EU integration.
What is trade diversion, deflection, and creation.
What are the benefits and drawbacks of expanding the EU.
What are the benefits and drawbacks of Uk joining the single currency EURO.
If there is a question someone doesn't understand then just quote the question and it can go up for discussion.
Chapter 11
Measure of economic growth.
What is the PPB curve.
What is the economic cycle.
How to generate economics growth, (supply and demand side factors)
How to improve physical capital.
Factors that increase activity/ productivity in the economy.
Factos that reduce the productivity rate.
What are the drawbacks of using GDP as a measure of living standards.
Alternatives to national income, NI.
Is economic growth sustainable.
Explanations of the economic cycle.
What is the multiplier effect.
Chapter 12
How to measure inflation.
Limitations of CPI.
Causes of inflation.
Explain the quantity theory of money, and state the formula.
Types of deflation.
Chapter 13
How to measure unemployment.
Types of unemployment.
Causes of unemployment.
Drawbacks of unemployment, (social and economic costs)
Benefits of unemployment.
What are the demand side factors to reduce unemployment.
What are the supply side factors to reduce unemployment.
What is the phillips curve and explain why the Long run phillips curve is vertical.
What is the Non accelerating inflation rate of unemployment.
What is stagflation.
Chapter 14
Reasons for taxation.
Types of taxation.
What is Adam Smith's law of taxation, 'cannons of taxation'.
Benefits and drawbacks of indirect taxation.
Types of government expenditure.
What are balanced budget, budget deficit and budget surplus.
What is the fiscal stance and draw the graph.
Explain the term public sector net cash requirement.
Benefits and drawbacks of a budget deficit.
What are the main fiscal rules.
What are the limitations of the fiscal policy.
Chapter 15
What are the two main types of money.
What effects demand for holding money.
Types of assets.
Types of interest rates.
What are the main functions of money.
What are the main objectives of the Central bank.
What are policy indicators and instruments.
Chapter 16
Types of exchange rate systems.
Benefits and drawbacks of floating exchange rate system.
Factors that effect the exchange rate.
What is foreign direct investment.
What is Hot Money.
What is a fixed exchange rate system.
Types of fixed exchange rates.
Benefits and drawbacks of a fixed exchange rate.
Chapter 17
What is the difference between the current account and the financial account.
What are the three main components of the financial accounts.
Does a current account deficit matter.
What policies are used to deal with a deficit in current account.
Explain the J-curve.
Policies to control and current account surplus.
Chapter 18
What are the factors that have contributed to globalisation.
Benefits and drawbacks of globalisation.
What are the needs and wants of developed and developing countries.
What is the Marshall Lerner condition.
Arguments for and against international trade restrictions.
Types of restrictive trade practices.
Chapter 19
What is the structure of the EU.
Why was the EU formed.
What is the single market.
What are the benefits and drawbacks of the single market.
How to increase EU integration.
What is trade diversion, deflection, and creation.
What are the benefits and drawbacks of expanding the EU.
What are the benefits and drawbacks of Uk joining the single currency EURO.
If there is a question someone doesn't understand then just quote the question and it can go up for discussion.
I remember you put all the answer in unit 3 topic could you do it for unit4 as well
please i really need theseOriginal post by . .
The first question is saying the government spending/expenditure increased (assuming GDP increased). The spending could have been like the government nationalising industries or spending more on the NHS or more on education or defence basically merit and public goods.
The second question is asking if there was sustained growth how would non-government consumption increase be affected.
The second question is asking if there was sustained growth how would non-government consumption increase be affected.
Lol there's no way I would be able to write a 25 mark response to the second one but thanks.
Original post by fzzz
I remember you put all the answer in unit 3 topic could you do it for unit4 as well please i really need these
please i really need theseI second that!
Original post by fzzz
Looking for past papper in jan12 anyone have it?
this.
Original post by kingboom4
I second that!
Third it! Lol x
I'm kind so I'll type out the questions, unfortunately I don't have an online copy, so I won't be typing the data out, anyhow, it would be better for revision for you to treat data questions as essay questions, because then you'll already have the own knowledge.
JANUARY 2012 UNIT 4 - MACRO
DATA
Global context
01 - as you know its data related.
02 Explain why there might be a trade-off between inflation and economic growth and analyse one cause of inflation.
03 Using the data (not supplied), assess the importance to the UK economy of continued economic growth in India. (Think of the BRICS and developing countries, what impact does their growth have on the UK - opportunities - however structural unemployment etc. etc.)
European contect
04 - requires data - easy 5 markers essentially.
05 - Explain the term 'spending their way out of recession' and analyse two reasons for government spending other than to influence the economic cycle.
06 - Assess the possible economic consequences for the UK economy of an EU-wide fiscal policy requiring all member states to balance their budgets.
Essays
07 - Explain three possible reasons for growth in the value of an economy's exports of goods.
08 - Evaluate the view that an increasing deficit in UK trade in goods is a major problem for the UK economy.
09 - Explain how supply side factors might help to achieve sustained economic growth.
10 - Discuss the view that the main reason for an economy wanting to achieve sustained economic growth is to being about an increase in private sector consumption.
11 - As unemployment rises, explain two possible economic problems which might affect individuals in the UK and two possible economic problems which might affect the UK economy as a whole.
12 - To what extent would a significant fall in the the exchange rate of the pound sterling achieve a sustained reduction in unemployment in the UK.
There you have it, out of all questions, I'd say the European context was very nice, and would certainly have answered that data question. The essay questions could have been nicer, on balance, I would've been forced to answer 11 and 12, however, I am yet to revise the international stuff fully and balance of payments + exchange rates, so you may have different views..
Could anyone give reliable indications of what may come up, based on evidence ie what hasn't come up for 3 or 4 papers?
JANUARY 2012 UNIT 4 - MACRO
DATA
Global context
01 - as you know its data related.
02 Explain why there might be a trade-off between inflation and economic growth and analyse one cause of inflation.
03 Using the data (not supplied), assess the importance to the UK economy of continued economic growth in India. (Think of the BRICS and developing countries, what impact does their growth have on the UK - opportunities - however structural unemployment etc. etc.)
European contect
04 - requires data - easy 5 markers essentially.
05 - Explain the term 'spending their way out of recession' and analyse two reasons for government spending other than to influence the economic cycle.
06 - Assess the possible economic consequences for the UK economy of an EU-wide fiscal policy requiring all member states to balance their budgets.
Essays
07 - Explain three possible reasons for growth in the value of an economy's exports of goods.
08 - Evaluate the view that an increasing deficit in UK trade in goods is a major problem for the UK economy.
09 - Explain how supply side factors might help to achieve sustained economic growth.
10 - Discuss the view that the main reason for an economy wanting to achieve sustained economic growth is to being about an increase in private sector consumption.
11 - As unemployment rises, explain two possible economic problems which might affect individuals in the UK and two possible economic problems which might affect the UK economy as a whole.
12 - To what extent would a significant fall in the the exchange rate of the pound sterling achieve a sustained reduction in unemployment in the UK.
There you have it, out of all questions, I'd say the European context was very nice, and would certainly have answered that data question. The essay questions could have been nicer, on balance, I would've been forced to answer 11 and 12, however, I am yet to revise the international stuff fully and balance of payments + exchange rates, so you may have different views..
Could anyone give reliable indications of what may come up, based on evidence ie what hasn't come up for 3 or 4 papers?
(edited 11 years ago)
Original post by tarek1
Lorenz curve.
J-curve and inverse j curve.
Phillips curve and long run phillips curve.
AD/AS curve.
PPB curve.
Economic cycle.
The fiscal stance.
The laffer curve.
Thats about it I think.
J-curve and inverse j curve.
Phillips curve and long run phillips curve.
AD/AS curve.
PPB curve.
Economic cycle.
The fiscal stance.
The laffer curve.
Thats about it I think.
Whats PPB??
Economic cycle? Is that the graph with trend growth and actual growth going over and underneath it to show booms, recovery, bust and slowdowns?
Haven't a clue what fiscal stance is, and I suppose laffer, lorenz could come in handy if we get to talk about fiscal policy.
Thanks, just what's ppb? ta x
Original post by ilovecatsforlife
Whats PPB??
Economic cycle? Is that the graph with trend growth and actual growth going over and underneath it to show booms, recovery, bust and slowdowns?
Haven't a clue what fiscal stance is, and I suppose laffer, lorenz could come in handy if we get to talk about fiscal policy.
Thanks, just what's ppb? ta x
Economic cycle? Is that the graph with trend growth and actual growth going over and underneath it to show booms, recovery, bust and slowdowns?
Haven't a clue what fiscal stance is, and I suppose laffer, lorenz could come in handy if we get to talk about fiscal policy.
Thanks, just what's ppb? ta x
Production possibility boundary
To what extent would a significant fall in the the exchange rate of the pound sterling achieve a sustained reduction in unemployment in the UK.
How can you split this 25 mark question into 2 separate paragraphs, assuming you have 1 main point/argument per paragraph?
How can you split this 25 mark question into 2 separate paragraphs, assuming you have 1 main point/argument per paragraph?
Think my ideal question for essays would be 'evaluate policies used to deal with a Balance of Payments deficit.' Would genuinely love that as an essay questions!
Original post by fzzz
I remember you put all the answer in unit 3 topic could you do it for unit4 as well please i really need these
please i really need theseYes, I'll try and get round to it asap. But I have just been really busy with other subjects. Maybe at the weekend you can expect them to be up.
Original post by rss.914
should you always relate the 25 mark questions to the macroeconomic objectives ie inflation, unemployment, economic growth and balance of payments?
If the question is something about 'effects on the UK macro economic performance or performance of UK economy,' then yes, should try to look at all four. maybe focus on two or three, and briefly mention the others. It is better to do 2/3 points really well, than try and cover all four but not as well. They way to do this may be to say in the introduction: 'the macro performance covers growth, unemployment, BoP and inflation. I am going to concentrate on G, I and U but I understand that BoP is also affected.'
anyone tell me the best way to revise. i have from now till the exam sate and need to gain as much info to get teh best grade
also. i always get around 20 mars on 25 marker
how do i ensure a fe wmore evaluation marks
i think i have a mistunderrstanding as to what evaluation means
also. i always get around 20 mars on 25 marker
how do i ensure a fe wmore evaluation marks
i think i have a mistunderrstanding as to what evaluation means
Original post by mespannerhanz
Think my ideal question for essays would be 'evaluate policies used to deal with a Balance of Payments deficit.' Would genuinely love that as an essay questions!
Me too. But that essay question has come up already so may be in might be worded slightly differently.
Original post by rss.914
should you always relate the 25 mark questions to the macroeconomic objectives ie inflation, unemployment, economic growth and balance of payments?
Depends on the question.
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