Edexcel Economics Unit 4: 20th June 2012

yes its not needed but it helps in expanding your answers in section A so that you ensure you explain clearly and show off your economic knowledge to make sure we get 4 marks for every point

Reply 83

June 05
1)a)Examine the significance of the factors which have contributed to increased globalisation in recent years. (40)

b)Evaluate the likely implications for the world economy of the predicted decline non-renewable energy resources (60)

2)a)Examine the factors which affect the international competitiveness of the UK's goods and services (40)

b)Evaluate the likely economic effects of a fall in the UK's competitiveness. (60)

3)The average tariff on industrial goods is 4% in the USA, 14% in Brazil and 30% in India:
a) Examine the reasons why a country may restrict imports. (40)
b)Evaluate the likely implications of an increase in protectionism on a country's economy. (60)

Specimen:
1)a) Examine the possible factors which may have led to changed of the value of the pound sterling against the Euro in recent years (40)

b) Evaluate the likely economic effects of a significant fall in the value of sterling against the Euro. (60)

2)a) Examine the effect of the Common Agricultural Policy on the world trade in agricultural goods.(40)

b) Evaluate the implications of a significant reduction in barriers to the trade and services for the global economy.(60)

3)a) In 2002 the unemployment rates in Spain, France and Italy were significantly higher than in the UK. Examine the factors which might explain why the UK's unemployment rate was lower in these countries.(40)

b)To what extent might the pursuit of full employment conflict with other macroeconomic objectives?(60)

Exemplar:
1)a) 'The competitiveness of the Uk's manafacturing sector has declined in recent years'. (40)
Discuss the factors which may have affected the international competitiveness of UK goods.
b) Evaluate the methods by which the UK's international competitiveness could be increased. (60)

2)'Trading blocs are vecoming increasingly important to the world economy'
a)Discuss the benefits to a country belonging to a trading bloc. (40)

b)To what extent might the policies of the WTO conflcit to those of trading blocs? (60)

Even more essay questions - more than you thought possible (courtesy of DHthe2nd)

June 02
1a) Examine the factors which have led to an increase in interdependence between countries in the world economy.
b) Assess the impact on the global economy of the continued use by trading blocs of measures which restrict free trade.

2a) Examine the impact of falling oil prices on the economies of the European Union.
b) Evaluate the potential costs and benefits to the UK economy of a decision to join the euro.

3a) Examine the factors which might explain how a surplus of £18bn was achieved on the UK public sector finances in 2000/01.
b) Evaluate the likely effects of decisions by multinational companies to relocate production to the UK on the UK’s public finances and on the rest of the economy.

June 03
1a) Britain had a deficit in its trade in goods balance of £34bn in 2002. Examine the likely causes of this deficit.
b) Evaluate measures which could be pursued by individual firms and by the government to improve the competitiveness of British goods.

2. Since the early 1990s the UK rate of inflation has been less than 5% in every year while unemployment has fallen from over 2.7million to less than 1 million in 2002.
a) To what extent do these data contradict the Phillips curve analysis?
b) Examine the factors which might explain why the UK has experienced low inflation and low unemployment in recent years.

3a) Examine the significance of the single currency for decisions by multinationals to invest in euro-zone countries.
b) The UK is the largest recipient of inward foreign investment within the EU. Evaluate the benefits of such foreign investment for the UK economy.

June 04
1a) Examine possible factors which might have led to changes in the value of the pound sterling against the euro in recent years.
b) Evaluate the likely economic effects of a significant fall in the value of sterling against the euro.

2a) Examine the impact of the European Union’s Common Agricultural Policy on the world trade in agricultural goods.
b) Evaluate the implications of a significant reduction in barriers to the trade in goods and services for the global economy.

3a) In 2002, the unemployment rates in Spain, France and Italy were significantly higher than in the UK. Examine the factors which might explain why the UK’s unemployment rate was lower than in these countries.
b) To what extent might the pursuit of full employment conflict with other economic objectives?

June 06
1a) ‘Trading blocs are the most significant factor contributing to globalisation.’ To what extent do you agree with this view?
b) Evaluate the likely economic effects of a decision by the UK to withdraw from the European Union.

2a) Both the USA and the UK’s balance of payments accounts are recording large deficits on their trade in goods balances. Do such deficits matter? Justify your answer.
b) Compare the effectiveness of supply side and fiscal policies to correct deficits on a country’s current account of the balance of payments.

3a) In 2000/01 the UK’s public expenditure was 37 per cent of GDP. This is forecast to increase to over 42 per cent of GDP by 2007/08. Examine the likely economic implications, apart from increased taxation, of this trend.
b) Assess the economic effects of a significant increase in taxation on the UK economy.

June 07
1a) The number and size of trading blocs, such as the European Union, have increased in recent years. To what extent does this trend conflict with the aims of the World Trade Organisation?
b) In several countries there has been increasing pressure for protectionist policies. Evaluate the likely economic effects of an increase in protectionism by the EU.

2a) Between 1999 and 2001 the UK had a fiscal surplus but from 2002 there has been an increasing fiscal deficit. Examine the likely causes of this trend.
b) Evaluate the likely economic effects of an increasing fiscal deficit for the UK economy.

3a) In April 2006, the unemployment rate was 16.5% in Poland, 8.2% in Germany but only 5.2% in the UK. Examine the factors which might explain the differing unemployment rates in these EU countries.
b) Discuss the view that the Phillips Curve is irrelevant in explaining relationships between unemployment and inflation in the UK.

i thought this may be helpful, 40 markers are our 20 markers and 60 are our 30 markers

Reply 84

Original post by PPF

June 05
1)a)Examine the significance of the factors which have contributed to increased globalisation in recent years. (40)........

i thought this may be helpful, 40 markers are our 20 markers and 60 are our 30 markers

WOW! Where did you find these? Did you make them up or did your teacher??
Lol some of them are freaking me out! Thanks though. :smile:

Reply 85

Okay..I got a doubt on solving Unit 4B papers. Suppose you wanted to solve a past paper..how does one get their hands on a copy of the evidence provided for that paper???

Reply 86

Original post by Sophie1805

Hi,

So the exam is around the corner in just over 4 weeks. How is everyone preparing for this exam?

Obviously doing every past question you can get your hands on is a good method.

In addition, how are you learning the content? Mind maps, flash cards, notes?

I'd be interested to hear.

I am doing Economics and Business together. So the thing about past papers is you need the evidence, I don't know how to get access to those of the past paper so I haven't actually solved a past paper yet! % and it driving me bonkers! :confused:

So instead I am revising by solving case studies..my goal is to do ALL the cases in the textbook. I am also reading relevant material in a bunch of Economics guides. So basically some extra reading and making notes from all that reading.

I am also making a list of key words I found in my textbook and that I will probably need to be thorough with and then I plan to convert them into flash cards.

Finally I when I look back at my definition list and reading notes, I intend to make quick concept maps to test my recalling speed. :biggrin:

*gasp* I sound incredibly nerdy. LOL :colondollar:

What about you??

Reply 87

we are doing Economics Unit 4, i think you have come to the wrong thread as your doing another course?

Reply 88

Original post by PPF

June 05
1)a)Examine the significance of the factors which have contributed to increased globalisation in recent years. (40)

b)Evaluate the likely implications for the world economy of the predicted decline non-renewable energy resources (60)

2)a)Examine the factors which affect the international competitiveness of the UK's goods and services (40)

b)Evaluate the likely economic effects of a fall in the UK's competitiveness. (60)

3)The average tariff on industrial goods is 4% in the USA, 14% in Brazil and 30% in India:
a) Examine the reasons why a country may restrict imports. (40)
b)Evaluate the likely implications of an increase in protectionism on a country's economy. (60)

Specimen:
1)a) Examine the possible factors which may have led to changed of the value of the pound sterling against the Euro in recent years (40)

b) Evaluate the likely economic effects of a significant fall in the value of sterling against the Euro. (60)

2)a) Examine the effect of the Common Agricultural Policy on the world trade in agricultural goods.(40)

b) Evaluate the implications of a significant reduction in barriers to the trade and services for the global economy.(60)

3)a) In 2002 the unemployment rates in Spain, France and Italy were significantly higher than in the UK. Examine the factors which might explain why the UK's unemployment rate was lower in these countries.(40)

b)To what extent might the pursuit of full employment conflict with other macroeconomic objectives?(60)

Exemplar:
1)a) 'The competitiveness of the Uk's manafacturing sector has declined in recent years'. (40)
Discuss the factors which may have affected the international competitiveness of UK goods.
b) Evaluate the methods by which the UK's international competitiveness could be increased. (60)

2)'Trading blocs are vecoming increasingly important to the world economy'
a)Discuss the benefits to a country belonging to a trading bloc. (40)

b)To what extent might the policies of the WTO conflcit to those of trading blocs? (60)

Even more essay questions - more than you thought possible (courtesy of DHthe2nd)

June 02
1a) Examine the factors which have led to an increase in interdependence between countries in the world economy.
b) Assess the impact on the global economy of the continued use by trading blocs of measures which restrict free trade.

2a) Examine the impact of falling oil prices on the economies of the European Union.
b) Evaluate the potential costs and benefits to the UK economy of a decision to join the euro.

3a) Examine the factors which might explain how a surplus of £18bn was achieved on the UK public sector finances in 2000/01.
b) Evaluate the likely effects of decisions by multinational companies to relocate production to the UK on the UK’s public finances and on the rest of the economy.

June 03
1a) Britain had a deficit in its trade in goods balance of £34bn in 2002. Examine the likely causes of this deficit.
b) Evaluate measures which could be pursued by individual firms and by the government to improve the competitiveness of British goods.

2. Since the early 1990s the UK rate of inflation has been less than 5% in every year while unemployment has fallen from over 2.7million to less than 1 million in 2002.
a) To what extent do these data contradict the Phillips curve analysis?
b) Examine the factors which might explain why the UK has experienced low inflation and low unemployment in recent years.

3a) Examine the significance of the single currency for decisions by multinationals to invest in euro-zone countries.
b) The UK is the largest recipient of inward foreign investment within the EU. Evaluate the benefits of such foreign investment for the UK economy.

June 04
1a) Examine possible factors which might have led to changes in the value of the pound sterling against the euro in recent years.
b) Evaluate the likely economic effects of a significant fall in the value of sterling against the euro.

2a) Examine the impact of the European Union’s Common Agricultural Policy on the world trade in agricultural goods.
b) Evaluate the implications of a significant reduction in barriers to the trade in goods and services for the global economy.

3a) In 2002, the unemployment rates in Spain, France and Italy were significantly higher than in the UK. Examine the factors which might explain why the UK’s unemployment rate was lower than in these countries.
b) To what extent might the pursuit of full employment conflict with other economic objectives?

June 06
1a) ‘Trading blocs are the most significant factor contributing to globalisation.’ To what extent do you agree with this view?
b) Evaluate the likely economic effects of a decision by the UK to withdraw from the European Union.

2a) Both the USA and the UK’s balance of payments accounts are recording large deficits on their trade in goods balances. Do such deficits matter? Justify your answer.
b) Compare the effectiveness of supply side and fiscal policies to correct deficits on a country’s current account of the balance of payments.

3a) In 2000/01 the UK’s public expenditure was 37 per cent of GDP. This is forecast to increase to over 42 per cent of GDP by 2007/08. Examine the likely economic implications, apart from increased taxation, of this trend.
b) Assess the economic effects of a significant increase in taxation on the UK economy.

June 07
1a) The number and size of trading blocs, such as the European Union, have increased in recent years. To what extent does this trend conflict with the aims of the World Trade Organisation?
b) In several countries there has been increasing pressure for protectionist policies. Evaluate the likely economic effects of an increase in protectionism by the EU.

2a) Between 1999 and 2001 the UK had a fiscal surplus but from 2002 there has been an increasing fiscal deficit. Examine the likely causes of this trend.
b) Evaluate the likely economic effects of an increasing fiscal deficit for the UK economy.

3a) In April 2006, the unemployment rate was 16.5% in Poland, 8.2% in Germany but only 5.2% in the UK. Examine the factors which might explain the differing unemployment rates in these EU countries.
b) Discuss the view that the Phillips Curve is irrelevant in explaining relationships between unemployment and inflation in the UK.

i thought this may be helpful, 40 markers are our 20 markers and 60 are our 30 markers

For anyone interested, I found some markschemes for the above questions. Might be helpful :smile:

Unit 6 markschemes

Reply 89

Does anyone have any model answers? I heard there were some in the phillip allan guide, maybe someone could scan it?

Reply 90

jemberzz

Original post by ezioaudi77

What is the MAXIMUM number of points you can write for a question?

For instance the 20 mark question in section A?

Write as many as you want.....however mark schemes state that for the 20 mark question - Consider 3 factors with at least 2 evaluative points.
30 mark question - Consider 4 factors with at least 3 evaluative points.

Reply 91

Original post by jemberzz

Write as many as you want.....however mark schemes state that for the 20 mark question - Consider 3 factors with at least 2 evaluative points.
30 mark question - Consider 4 factors with at least 3 evaluative points.

I wanted to know if they would ignore the other points you make. For the 20 marker, we need 5 well developed factors (3 factors + 2 evaluative points). So, if I wrote 8 less developed points (5 factors + 3 evaluative points), would I still get full marks?

Reply 92

crazy1234

Original post by ezioaudi77

I wanted to know if they would ignore the other points you make. For the 20 marker, we need 5 well developed factors (3 factors + 2 evaluative points). So, if I wrote 8 less developed points (5 factors + 3 evaluative points), would I still get full marks?

Yeah you can I think, obviously they have to be developed to a sufficient amount and explained, so you can't just use bullet points. Given time constraints it may be hard to get 5 and 3 in to a decent level whereby it is actually an point.
Personally I always do 3 factors and 3 evaluative, because its usually the evaluation that lack development within my answers, and it seems to make up for it mocks and homework. So I see no reason why you couldn't do 5 and 3.

Reply 93

Original post by ezioaudi77

Even more essay questions - more than you thought possible (courtesy of DHthe2nd)

thanks so much mate, i cant say enough thanks through writing!

it seems to me that the unit last 2 past papers have been based upon the old unit 6, questions have exactly same meanings just worded diff, i reckon we should memorise answers for all these q's as theres a high chance for section a to be the same

Reply 94

Original post by PPF

we are doing Economics Unit 4, i think you have come to the wrong thread as your doing another course?

****! Okay thanks! :colondollar:

Reply 95

Original post by crazy1234

Yeah you can I think, obviously they have to be developed to a sufficient amount and explained, so you can't just use bullet points. Given time constraints it may be hard to get 5 and 3 in to a decent level whereby it is actually an point.
Personally I always do 3 factors and 3 evaluative, because its usually the evaluation that lack development within my answers, and it seems to make up for it mocks and homework. So I see no reason why you couldn't do 5 and 3.

I wasn't going to write bullet points and leave them unexplained :tongue:

What I meant was that I might lose marks if I had written 3 factors and if one of them earned only half marks. So to avoid this I would write about 4 factors (like you writing 3 evaluative pts instead of 2).
So I was unsure if that point would be ignored, as markschemes always say "3 factors and 2 pieces of evaluation". And if it will be ignored, why write it in the first place and waste time?

So I hope you are right and thanks for the reply :biggrin:

Reply 96

Original post by PPF

thanks so much mate, i cant say enough thanks through writing!

no problem :smile:

Original post by PPF

it seems to me that the unit last 2 past papers have been based upon the old unit 6, questions have exactly same meanings just worded diff, i reckon we should memorise answers for all these q's as theres a high chance for section a to be the same

Exactly!!

I think at least one of the questions out of three will be something that was asked earlier. So the more papers you do, the better your chances of doing a question that will come up in this paper :u:

Reply 97

Original post by ezioaudi77

no problem :smile:

Exactly!!

I think at least one of the questions out of three will be something that was asked earlier. So the more papers you do, the better your chances of doing a question that will come up in this paper :u:

thats right, and also its VERY likely that one of the BOP, exchange rate or perhaps globalisation questions come up... BOP defo.. i hope its the one asking the significance of a trade imbalance.

and to you earlier post i think its 4 marks per point, 2 for identification and 2 for explanation if im not mistaken so for 20 marker you do 3 analysis and 2 evaluation although you could do more as it says typically answers will include.

for thirty markers we need 4 analysis and 3 evaluation + conclusion or another less well developed point as 7 points will gain max only 28 marks. but no you wont lose any marks for writing more its just harder to think of too many points just go into great depth in your answer making links along the way i.e. increase the deficit, increase inflation, AD/AS, unemployment, BOP etc

an example would be that say your giving the reason of low productivity for the increased uk deficit i would say ( may be wrong )
-first state the reason for the deficit i.e. low productivity
-explain why theres low productivity i.e. reccession led to under investment and fall in dynamic efficiency, reccession led to high unemployment and skill sets become obsolete etc
-then explain the effects i.e. higher average costs and unit labour costs therefore higher export prices to maintain profit margins
-this would the lower competitveness and so reduce exports (ceteris paribus) the deficit shall fall.

thats how i do it, but i could be completely wrong :smile:

Reply 98

Yash13

10

Original post by PPF

thats right, and also its VERY likely that one of the BOP, exchange rate or perhaps globalisation questions come up... BOP defo.. i hope its the one asking the significance of a trade imbalance.

and to you earlier post i think its 4 marks per point, 2 for identification and 2 for explanation if im not mistaken so for 20 marker you do 3 analysis and 2 evaluation although you could do more as it says typically answers will include.

for thirty markers we need 4 analysis and 3 evaluation + conclusion or another less well developed point as 7 points will gain max only 28 marks. but no you wont lose any marks for writing more its just harder to think of too many points just go into great depth in your answer making links along the way i.e. increase the deficit, increase inflation, AD/AS, unemployment, BOP etc

an example would be that say your giving the reason of low productivity for the increased uk deficit i would say ( may be wrong )
-first state the reason for the deficit i.e. low productivity
-explain why theres low productivity i.e. reccession led to under investment and fall in dynamic efficiency, reccession led to high unemployment and skill sets become obsolete etc
-then explain the effects i.e. higher average costs and unit labour costs therefore higher export prices to maintain profit margins
-this would the lower competitveness and so reduce exports (ceteris paribus) the deficit shall fall.

thats how i do it, but i could be completely wrong :smile:

Eh?

Other than that nice point, I like the reference to the dynamic efficiency and not just static as most people would. :smile:

(edited 11 years ago)

Reply 99