WJEC EC3 and EC4 A2 Economics June 2015 exam

What did everyone think? :smile:

Posted from TSR Mobile

Reply 21

OlzClark1997

First questions threw me off a bit, essay questions were really nice. For me probably -2 for External Econ of scale, -2/3 for exch rates, -a few for other random ****. So pretty alright

Reply 22

Yeah I thought it was one of the harder papers. But the essay, externality and demand policy questions were nice :smile:

Posted from TSR Mobile

Reply 23

OlzClark1997

Agreed, which essay did you do? I'm assuming perfect comp or oligopoly?

Reply 24

Original post by OlzClark1997

Agreed, which essay did you do? I'm assuming perfect comp or oligopoly?

I did the oligopoly essay :smile:

how about you?

Posted from TSR Mobile

Reply 25

dylanjordan24

Can someone explain the NAIRU question for me?

Reply 26

KS1996x

7

I NAIRU question could've been explained via two ways - both the LRAS/AS/AD diagram or the augmented Phillips curve. Classical economists believe that any demand side madylannagement, eg expansionary fiscal policy in the short run will increase unemployment beyond the natural rate, however in the long run return to the natural rate as AS Shifts to the left, reaching a higher price level as workers anticipate inflation within the economy.

(edited 8 years ago)

Reply 27

Iceni1

Was it necessary to compare another market structure for the first essay question?

Reply 28

d9717

2

For the taxes question, what diagram did you draw? I done a negative consumption externality but I was unsure because it could have been a negative production externality . Plus what else could have you wrote to get 6 marks for that question? I think I may have lost a few on that.

Reply 29

KS1996x

7

Original post by d9717

For the taxes question, what diagram did you draw? I done a negative consumption externality but I was unsure because it could have been a negative production externality . Plus what else could have you wrote to get 6 marks for that question? I think I may have lost a few on that.

Negative consumption Externality.

Reply 30

OlzClark1997

Original post by Iceni1

Was it necessary to compare another market structure for the first essay question?

I believe for the higher marks yes, I don't know how you'd get twenty points otherwise

Original post by HG_07

I did the oligopoly essay :smile:

how about you?Posted from TSR Mobile

I did the perfect Comp one

Reply 31

Original post by OlzClark1997

I believe for the higher marks yes, I don't know how you'd get twenty points otherwise

I did the perfect Comp one

Half way through my oligopoly one I was considering scrapping it as I blanked and going to do perfect comp. but luckily it all came back haha

Posted from TSR Mobile

Reply 32

Any grade boundary predictions? And how much do both papers weigh?

Posted from TSR Mobile

Reply 33

username1776853

How did everyone find it?

Reply 34

Original post by S01B97

How did everyone find it?

I thought it was one of the harder papers but I think I did alright. How about you?

Posted from TSR Mobile

Reply 35

username1776853

Yeah, all okay until price discrimination; public sector deficit vs budget; NAIRU; overvalued currency. I answered them poorly, but the perfect competition was very nice question.

Reply 36

Original post by S01B97

Yeah, all okay until price discrimination; public sector deficit vs budget; NAIRU; overvalued currency. I answered them poorly, but the perfect competition was very nice question.

Yeah I agree with the essays being nice. Hoping the boundaries will be quite low!!

Posted from TSR Mobile

Reply 37

username1776853

I imagine by the looks of the paper, the grade boundaries will be low. possibly 51/60 for full UMS (around 40/41 out of 60 for an A if so)? The weighting is 100 UMS for EC3 and EC4. I have a feeling few people would have had full marks in a lot of the questions - NAIRU is always an off putter for many, as well as the 'overvalue' question as many are only familiar with undervaluing.

No point dwelling though, any predictions for EC4?

Essay question will obviously be either Growth/Unemployment/Inflation/Unemployment&Inflation, Development and one other - perhaps increasing taxes and cutting spending etc.

Reply 38