AQA Economics Unit 1 Exam Dicussion

I did context A

For the 12 marker, I drew to diagrams, A AD/AS Diagram and A PFF diagram showing the universities where lying below the boundaries, I also explained that if tuition fee's where lowered then unemployment would rise as there would be more people suitable for a certain job but it may also rise if fee's where heightened as more students would be looking for jobs to pay their loans back

For 25 I explained the same concept in depth and added a Trend rate graph in for unemployment and said how university was only for the rich, I also said if the government intervened and made education free then this would rise AD as Government spending would rise.

This is a general idea of what i put, is this completely wrong?

I dont think in micro you talk about AD

I did context A

For the 12 marker, I drew to diagrams, A AD/AS Diagram and A PFF diagram showing the universities where lying below the boundaries, I also explained that if tuition fee's where lowered then unemployment would rise as there would be more people suitable for a certain job but it may also rise if fee's where heightened as more students would be looking for jobs to pay their loans back

For 25 I explained the same concept in depth and added a Trend rate graph in for unemployment and said how university was only for the rich, I also said if the government intervened and made education free then this would rise AD as Government spending would rise.

This is a general idea of what i put, is this completely wrong?

wanted your thoughts on what mark I'm looking at getting on my 25 mark question - I did the context 1 set of questions...

Intro:
Defined merit goods and positive externalities, just restated the questions and how I would explore it

Paragraph 1:
Made the point that making students pay full fees would lead to inequalities of wealth and income, excluding the poor and benefiting the rich

Paragraph 2:
Stated advantages and disadvantages of students paying full fees themselves

Paragraph 3:
Suggested the alternative method of introducing a government subsidy on universities. Used a diagram showing MSB, MPB, etc, showing the effect the subsidy would have, pushing the quantity closer to the target social point where MSC=MSB.

Paragraph 4:
Stated advantages and disadvantages of the subsidy

Conclusion:
Basically said that just making students pay full fees isn't the best method, however withs subsidy alongside could be successful

Any advice on what kinda marks I'm looking at getting would be great, thanks!


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One other thing to mention, I found the comparison question in Context 1 to be more difficult than usual...What were your comparisons for it?

I compared that undergraduate numbers had tripled and that the gap between full and part-time postgraduates has decreased, and that there were now more part-time than full time postgraduates.


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Everyone on Context 1 seems to have spoken about subsidising tuition fees - I talked about turning university into a public or quasi-public good, would I get credit for analysis and evaluation etc? I know I analysed and evaluated well just didn't mention subsidies


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I feel my 25 marker was good but I ends up waffling a bit, as I started mentioning economist Hayek the uk economy and how since we're emerging from a recession we need education for growth therefore the government should spend money into subsidizing it? Thoughts on that?

Education is not a public good unfortunately. It's a merit good. Public goods are not provided by the market, without Government intervention. Education is provided by the free market...but it's under-provided due to social benefits>private benefits. I'm not really too sure how 'turning a university into a public/quasi' good is really valid .

Pretty certain it was assessing whether or not governments should intervene. So you are correct that you would do a paragraph on why the government should intervene and give an example (such as providing information/ raising awareness about the health risks of using mobile phones or putting fines in place to stop talking on the phone while driving). You would then do a paragraph against government intervention (could cause government failure, expensive, may not be market failure at all, etc.) And then you would need to conclude and evaluate at the end

The january 13 and June 13 multiple choices were really difficult compared to the years before when i was getting 23+ on those past papers.

If everyone did bad in the MCQ the grade boundaries might drop by like 1-2 marks .. which obviously isn't enough

True, January paper was much better than the one in may, what context did you answer?

Just finished the exam, did the first section on tuition fee but only had time to write 1 full point for and 1 full point against. For the reason against tuition fee I mentioned how education is a merit good and how subsidising universities would lead to an increase in positive externalities since more will be consumed with a MSB diagram (This is the exact thing i write for Q3 would i lose marks for repeating?)

For reason why fee should be paid by students I mentioned how the gvt could persuade UK to be like US by donating money to universities. This will increase supply and lower fees needed by individual students
Then concluded that students shouldn’t be charged since the society will benefit more in the long run by having a subsidised education system in terms of an efficient workforce and civilised society.