AQA A Level Economics Paper 2 (7136/2) -22th May 2023 [Exam Chat]

Yeah kinda but i wrote 2 negatives paragraphs and evaluated the negatives as the question was more focused on the damage rather than just generally the overall impact.
Wasn’t my best 25 marker

My first point-
Increase in corporate tax in Ireland —> increase in gov revenue which they can use to pay off government debt and talked about how reducing gov debt can increase the credibility of Ireland. For example in 2013 moodys lowered the UKs credit rating from AAA to AAA1 due to high amounts of debt accumulated and slowness in relaying debt. Also an increase in the credibility of Ireland allows them to lower their coupon rates offered on GILTS, as borrowers have higher confidence, thus lowering debt repayments on future bonds. Additionally an increase in their credibility may increas portfolio and foreign direct investment leading to a inflow of capital and causing an increase in the demand for the Irish currency, therefore leading to an appreciation in the exchange rate. Thus imports appear cheaper and so domestic firms are able to import hard commodities such as steel at a lower price therefor decreasing their average costs which can be passed onto consumers decreasing cost push inflation. As a result higher corp tax can allow gov to increase revenue and reduce their national debt leading to a decrease in stagflation(higher growth and lower inflation).

Reply 301

Zarek12

1

Original post by easeD4NNY

i did it too whatd u put

I think I messed up my 25 marker
Question was: asses whether globalisation has been beneficial to the uk
In my first point which I agreed, I talked about how Increased globalisation has lead to the threat of protectionism policies occurring ,due to over dependance on imports (as seen in America with trump), which instead can be beneficial to the uk economy (if the UK economy is promoting protectionism)
Then I talked about the positives of a quota e.g increases domestic output therefore increasing domestic structural employment etc
Ik I definitely overcomplicated it after looking back🥲

Reply 302

Zarek12

1

Original post by Zarek12

I think I messed up my 25 marker
Question was: asses whether globalisation has been beneficial to the uk
In my first point which I agreed, I talked about how Increased globalisation has lead to the threat of protectionism policies occurring ,due to over dependance on imports (as seen in America with trump), which instead can be beneficial to the uk economy (if the UK economy is promoting protectionism)
Then I talked about the positives of a quota e.g increases domestic output therefore increasing domestic structural employment etc
Ik I definitely overcomplicated it after looking back🥲

I talked about comparative and advantage and free trade a lot in the 15 market so I ddirn wanna repeat myself again in case I got marked down. so I went with this far fetched theory but I’m pretty sure it’s wrong😔

Reply 303

nadiakhxi

1

Original post by ZuBh

Did nobody else talk about the potential negative externalities of economic growth?

I did that, I talked about how it can cause industrial expansion, leading to negative externalities of waste dumping and increased air pollution, leading to a lower standard of living in those regions.

Reply 304

lushlife889

7

Original post by Zarek12

Did anyone do essay 1 on globalisation?
I think I messed up my 25 marker
Question was: asses whether globalisation has been beneficial to the uk
In my first point which I agreed, I talked about how Increased globalisation has lead to the threat of protectionism policies occurring which instead can be beneficial to the uk economy (if the UK economy is promoting protectionism)
Then I talked about the positives of a quota e.g increases domestic output therefore increasing domestic employment etc
Ik I definitely overcomplicated it after looking back🥲

ummmm i mean it depends on how you explain it really cause globalisation reduces protectionism policies not the other way around - that would be more a reason for why globalisation is not good - so u could say dumping leads to protectionist policies
so I would say you talked more the policies rather than the simple stuff like comparative advantage, structural unemployment, over dependency etc. So yeah i think you did over complicate it a bit.
But could get get like 15ish marks if you analysed and evaluated well

Reply 305

lushlife889

7

Original post by Zarek12

I talked about comparative and advantage and free trade a lot in the 15 market so I ddirn wanna repeat myself again in case I got marked down. so I went with this far fetched theory but I’m pretty sure it’s wrong😔

15m and 25 markers are viewed differently??? just cause u wrote something in the 15 marker doesn't mean u don't repeat it?

Reply 306

blushingsakura

12

Original post by lushlife889

10 markers are super easy to score highly in - basically use 3 pieces of data - analyse it and then also evaluate saying why the data may be incorrect or not reliable - and do this for each - and then write a conclusion

the 15 and 25 markers are the same for the other 2 papers

Original post by buldak

10 markers is analysing data like a 4 marker but u have to include limitations of the data (like an evaluation). 15 marker is making like 3 points and just explaining, no eval.

Thanks this is rly helpful!! Didnt go through paper 3 heavily in class- i suppose paper 3 is just gonna be doing a bunch of past papers seeing as I still havent got rid of all the micro and macro content in my head haha

Reply 307

matt17720

6

Original post by ZuBh

Did nobody else talk about the potential negative externalities of economic growth?

Yep I did that was one of my cons of EG.

Said it causes environmental degradation, the increased usage of finite resources, burdening future generations, leads to negative externalities in consumption and production etc, contributing to the enhanced greenhouse effect, climate change, global warming etc. which worsens living standards

Then evaluated this by drawing the Environmental Kuznets Curve - basically saying as an economy grows it moves away from a dominant manufacturing sector to a more service based sector. Therefore the initial phase of environmental degradation is reversed in the long run.

Reply 308

Ridhi28

10

Original post by Zarek12

I think I messed up my 25 marker
Question was: asses whether globalisation has been beneficial to the uk
In my first point which I agreed, I talked about how Increased globalisation has lead to the threat of protectionism policies occurring ,due to over dependance on imports (as seen in America with trump), which instead can be beneficial to the uk economy (if the UK economy is promoting protectionism)
Then I talked about the positives of a quota e.g increases domestic output therefore increasing domestic structural employment etc
Ik I definitely overcomplicated it after looking back🥲

I did say it depends on protectionism and that will affect uk’s ability to gain a comparative advantage but idk if that’s right lol I guess paper 3 will be the one to try get an A*

Reply 309

htac2005

For those who did QE, I got £4.48:£1 on the calculation
Did anyone mention that QE is a good response to the liquidity trap?

Reply 310

pk027

12

Original post by Darsns

Sometimes the truth hurts
People that did pollution permits in paper 1 will get a lower mark. I just tried to explain why it’s a poor point

the thing is, whether you think Ur right or not and everyone disagreeing w u doesn't matter
it's the fact that Ur going on and on ab it when no one can change it now, Ur just making ppl feel bad
if you think you've made good points then great feel good ab it, but don't drag ppl down

Reply 311

Stalluhn

4

Original post by siviplay22

Why are you copying me 😭😭, I said this word for word goodness

Ahaha well I’m glad you did too, I was worried that saying it wouldn’t be relevant bc I saw nobody else say they spoke about that point

Reply 312

Evelyn_22

7

Original post by siviplay22

yes but it said “economic policy” trade offs not macroeconomic so idk anymore I didn’t pick it anyways so it’s fine

Yeah but it was the macro paper??

Reply 313

RT8000

1

Original post by Zarek12

My first point-
Increase in corporate tax in Ireland —> increase in gov revenue which they can use to pay off government debt and talked about how reducing gov debt can increase the credibility of Ireland. For example in 2013 moodys lowered the UKs credit rating from AAA to AAA1 due to high amounts of debt accumulated and slowness in relaying debt. Also an increase in the credibility of Ireland allows them to lower their coupon rates offered on GILTS, as borrowers have higher confidence, thus lowering debt repayments on future bonds. Additionally an increase in their credibility may increas portfolio and foreign direct investment leading to a inflow of capital and causing an increase in the demand for the Irish currency, therefore leading to an appreciation in the exchange rate. Thus imports appear cheaper and so domestic firms are able to import hard commodities such as steel at a lower price therefor decreasing their average costs which can be passed onto consumers decreasing cost push inflation. As a result higher corp tax can allow gov to increase revenue and reduce their national debt leading to a decrease in stagflation(higher growth and lower inflation).

GUYS I NEED HELP
I may or may have not misread ESSAY 2 25 marker. Can someone please tell me it word for word I forgot it and im going mental. HELP HELP SOS

Reply 314

16bhatam

10

Original post by RT8000

GUYS I NEED HELP
I may or may have not misread ESSAY 2 25 marker. Can someone please tell me it word for word I forgot it and im going mental. HELP HELP SOS

I didn't do essay 2 but ik it was about quantitative easing being damaging to the economy or something

Reply 315

lushlife889

7

Original post by RT8000

GUYS I NEED HELP
I may or may have not misread ESSAY 2 25 marker. Can someone please tell me it word for word I forgot it and im going mental. HELP HELP SOS

It was ''to what extent is the continued use of QE damaging to the UK economy'