OCR Economics F582 May 2013

For this exam, do we need to know in detail how inflation is measured?

(edited 10 years ago)

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Have a look through past papers- I think you need to know a couple of advantages/disadvantages- but I may be wrong, best to check yourself :smile:

Reply 2

anyap

I hate definitions - seriously see them as the most difficult part of the exam

Reply 3

M.I.A

I cannot get a hold of the Jan 2013 paper, however, I did read the examiners report and yes a question came up on calculating CPI. Reading the report I could tell that it was a hard paper so fingers crossed that this ones going to be easier. :smile:

Reply 4

evadommy

I have not come across as what you have mentioned while doing my past papers, but I think it's better to remember them as there might be some evaluation question where you might need to say, "however, LFS only covers 60000 people" or something similar. :smile:

anyway fingers crossed it'll be easy coz Im sitting this paper as well!

Reply 5

DelBoy12

Anyone got any predictions on what might come up?
Retaking in order to try and better my 70ums from last May

Reply 6

SFeet

Really hope this exam paper's a tough one so the grade boundaries are lower

Reply 7

M.I.A

F581-01Jan13.pdf <----- That is the F581 Jan 2013 paper for anyone that needs it. I will be posting the F582 Jan 2013 paper aswell later.

Reply 8

Cameron24

Original post by M.I.A

F581-01Jan13.pdf <----- That is the F581 Jan 2013 paper for anyone that needs it. I will be posting the F582 Jan 2013 paper aswell later.

Hi there, i was wondering if it was no trouble, would you be able to upload the F582 jan 2013 paper? :smile:

Reply 9

vickiwithanI

would anyone be able to upload January 2013 F582's Mark Scheme? struggling with the essay :frown:

Reply 10

popo

who has the economics jan 2013 f582 paper ??????

Reply 11

Snuf6

Any idea on the 18 marker?

Reply 12

026neesh

Original post by popo

who has the economics jan 2013 f582 paper ??????

i have the exam questions:

the case study was given was about Sudan

1 (a) Give the reason why there may be a movement along an aggregate demand curve. [1]
(b) Explain the likely effect of an increase in net exports on the position of the aggregate demand curve [2]

2 (a) Using information in the case study, calculate Sudan's trade balance with India in 2010 [2]
(b) Explain why an increase in Sudan's imports from China:
(i) may increase the country's current account deficit [2]
(ii) may not increase the country's current account deficit [4]

3 (a) Using a diagram, explain how an economy's exchange rate is determined [4]
(b) Using the information in the case study, explain whether the value of the Sudanese pound rose or fell in December 2010 [2]

4 (a) Using information in the case study, identify and explain two causes of unemployment in South Sudan [6]
(b) Comment on whether a fall in an economy's unemployment rate will increase economic growth [6]

5 (a) Describe how inflation is measured in the United Kingdom [5]
(b) Using the information in the case study, calculate South Sudan's forecast annual inflation rate for December 2012 [2]
(c) Comment on whether an increase in income tax would reduce a country's inflation rate [6]

6 Discuss whether a decrease in aggregate demand is always harmful to national economic performance [18]

Reply 13

026neesh

sorry i don't have the case study, my scanner won't work :frown:

Reply 14

M.I.A

F582 Jan13.pdf <------------ F582 Jan 2013 Past paper!

F582_MS_Jan13 (1).pdf <------------ F582 Jan 13 Mark Scheme!

Reply 15

026neesh

has anyone got any ideas on what the exam's 18 marker is going to be in May??

Reply 16

ash_2013

How did people answer this question in the january 2013 paper.

Q) Using information in the case study, calculate Sudan's trade balance with India in 2010 (2marks)

i have the mark scheme answer which is :
Two marks for US$10m.
One mark for correct working i.e. US $490m –US $480m or
just 10 or -10m

but i dont know where the figures came from, like $490 and $480..

THANKS! :smile:

Reply 17

Snuf6

Original post by ash_2013

It's because Sudan exported $9800m, and 5% of this was to India. So Sudan exported $490m to India.
It imported $8000m, and 6% of this was from India. So Sudan imported $480m from India.
To work out a trade balance you do: Exports - Imports.
490 - 480 = $10m

Reply 18

026neesh

Original post by ash_2013

in the pie chart it shows that India has 5% of Sudan's exports and 6% its imports
we are then told that Sudan's total exports were US$9800m and imports were US$8000m.
therefore you work out what 5% and 6% of this is and take them away from each other:
US$490 - US$480 which gives you the answer of US$10m

hope that helps :smile:

Reply 19

kris3332

Guys could someone help me with the structure for an essay like this?
Discuss the effectiveness of reducing government spending in order to lower demand pull inflation?