Question spotting for F585 Economics The Global Economy OCR A level June 2011

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I am really worried about the exam. ANy ideas of questions?

Any ideas of model answers?

I am happy to swap with people- I heard the APT resource is good can anyone email it to me?

Reply 41

mqt

Original post by simonc1993

If interest rates are low, then 'hot money' (money invested into the UK by other countries) leaves the UK as investors get a smaller return for their money. This means our currency's demand will fall and supply will rise. This will cause the value ('price') of our currency to depreciate (it helps if you draw a demand/supply diagram to see how this works.) And it works vice versa for a rise in interest rates.
And cheers for the tip on the monetary policy question. I'm afraid I don't have any but I noticed there's some in the back of the tutor2u guide, not to sure how accurate they are. I think my college is typing up a couple of mock tests, one I'm doing in a couple of weeks, so I'll email them to you once they're on my college website.

Oh! hahaha thanks! but i already had my cousin explain it to me :smile:

and i get it now! haha :smile:

you both pretty much explained it the exact same way too! she's going to be doing economics too! :smile:

no problem, wasn't that useful, but atleast we know that we need to pick out key words and explain in depth how they work, if there's a question like that :P :smile:

Thanks! i'll have a look at them!...i want to just do as many questions as posisble to get in to the habit of knowing how to write things and what exactly to write i guess :smile:

and i really need to learn my stuff! i.e definitions! :/...
Thank you! :smile:

if anything useful ever comes up, i'll be sure to let you know :smile:

Reply 42

bijesh12

Try to ask me q's if you want, even though im retaking il try to revise that way.

Reply 43

therealOG

Guys, don't question guess.

Learn everything well and you're sorted.

Reply 44

simonc1993

Original post by therealOG

Guys, don't question guess.

Learn everything well and you're sorted.

Agreed, but it's also good to be prepared through having an idea of some of the questions that could come up, particularly for the essay one at the end, so you've already got a rough plan in your head. Obviously wthout getting too tied down to the questions speculated.
I'd say it's best to learn the whole course first, and then work out how you'd answer particular questions.

Reply 45

therealOG

Original post by simonc1993

Yeah, the extracts give a good indication of the type of questions that will be coming up.

What UMS do you need for an A/A*?

Reply 46

simonc1993

Original post by therealOG

Yeah, the extracts give a good indication of the type of questions that will be coming up.

What UMS do you need for an A/A*?

Do you mean normally or me personally?

80 UMS is for an A and 90 UMS averaged out across the 2 papers is an A*.

For me, I can get 46 for an A and 80 for an A*

Reply 47

therealOG

Original post by simonc1993

Do you mean normally or me personally?

80 UMS is for an A and 90 UMS averaged out across the 2 papers is an A*.

For me, I can get 46 for an A and 80 for an A*

I mean for you personally, I ain't that stupid lol

HOT DAMN, you musta merked the January paper, well done buddy (Transport or Labour?)

I need 41/100 for an A and 87/100 for an A*

Was really hoping that I could get higher in the Transport paper, oh well.

Reply 48

simonc1993

Original post by therealOG

Sorry, I just realised how patronising that must have sounded :P

I did the transport paper.
Yeah, I'd revised quite a lot on deregulation of the airline industry (Section B) and one of my teachers was obssessed with negative externalities/congestion (which was pretty much all of Section A.) If the paper was more driven towards CBA I'd have been screwed.

Looks like you aced the AS exams though. I think it's a shame that AS results aren't incoporated more into the A* scheme. It means someone could get 160 UMS in the first year and 180 in the second (totalling 340) and still get an A*. Whereas, someone else could get 200 UMS in the first year and 179 in the second year (totalling 379) and only get an A. Just seems a bit unfair....

Reply 49

ltplivsey

just wondering if anybody could email me this tutor2u pack that people are talking about, my email address is [email protected]

Reply 50

jawain04

can someone email me the toolkit please? i will pm my email address cheers

Reply 51

kyle15

hiya can anyone help me, Im really confused about this exam im not sure what i need to revise and what not. what is the purpose of the stimulus booklet which everyone is given? And also does anybody know any websites or cheap books which will help with my revision? Thanks

Reply 52

est~*~

Original post by kyle15

This paper is not as tricky as it looks all you need to do is set your revision towards the extracts you should have by now.. such as convergence and the business cycle for extract 1 and so forth.. this paper actually allows you not having to study some parts of the book like the ending of development and sustainability.

Reply 53

swalker93

hiya, is anyone able to send me the toolkit? I have no idea what to revise.

Thanks alot

Reply 54

FullyGrown

COMMENT ON THE EXTENT TO WHICH THE INTERNATIONAL COMPETITIVENESS OF THE PIIGS CAN BE TACKLED BY MONETARY POLICY (10 Marks)

Anyone have any ideas on how to go about answering this type of question ?

I've got ideas about adding :

-For and Against Monetary Policy
-Inter and Intra Trade (anyone got any info on these two i heard a brief description about them but cant find them in the textbook)
-Expansionary and Unorthodx Monetary Policy...

Any help appreciated,

Thanks :smile:

Reply 55

Monsie :)

Original post by FullyGrown

I think that would be a huge amount of the 10 marks. I'd offer a freely floating exchange rate as a better (yet for the PIIGS, unattainable) alternative.

The only thing I'd have added to this is whether it's ever realistic to think that monetary policy will benefit the PIIGS economies at the expense of the likes of Germany, when they constitute such a small percentage of the euro area's GDP. Since the ECB work by the euro area average, I would conclude that monetary policy would not only be ineffective, but also not even be employed unless there is complete convergence between them and the main powers (Germany and France). I'd back this up with the recent quarter point increase in interest rates that is to the detriment of the PIIGS and the benefit of Germany.

:smile:

Reply 56

turn and fall

Original post by FullyGrown

Not sure any of that will get any marks.

-Higher interest rate -> reduce inflationary pressure -> reduce unit labour costs
-New currency -> allow it to devalue -> reduce relative unit labour costs

mehhh should be able to evaluate enough for 10 marks

Reply 57

SYNman

can anyone feeling in a good mood send me the toolkit please? I've got a feeling my email is publically displayed but if not could you pm me and I'll send it :smile:

thanks

Reply 58

username350927

Original post by SYNman

can anyone feeling in a good mood send me the toolkit please? I've got a feeling my email is publically displayed but if not could you pm me and I'll send it :smile:

thanks

pm me I will send it

Reply 59

Wasnerello

Yeah I think that's a really good answer - I think this sort of question is likely to come up.

I need 72/100 for an A and 94 for an A* in econ so I'm revising like mad (and retaking both AS units).

There are some areas of the syllabus which are hardly mentioned in the stimulus materials such as the pros/cons of a fixed exchange rate. I also noticed that there was a 10 marker on this last year - does anyone think its safe to leave this out of revision?

One more thing: does anyone have access to the Feb 2011 F585 paper? I can't find it anywhere so I only have two past papers to go on :/