AQA Economics Unit 4 11th June 2013

Okay so im a little confused because I did context two and I seem to have approached the question differently to others. The questions came across to me basically as 'how important is the eu and eurozone in helping the Uk perform better'?

In my answer I spoke about the trade in the Eu is not in the short run going to cause a export led recovery due to poor Eurozone performance.
Then I spoke about how the rest of the world could improve out economics growth in BRIC's ect...
Then I spoke about how domestic demand could be used to help stimulate growth through expansionary fiscal policy
And then evaluated

For part two I did the trade of question about interest and inflation, both of those questions were fine.

Is what I have put for context 2 wrong :/?

So if you are not supposed to talk about fiscal policy at all why would they fill the whole of the context with stuff about austerity?

Did the EU question:
1. UK will benefit of the EU because of the export led multiplier, trade creation (diagram), fiscal rules, exports.

2. UK will not benefit- because of the rise in budget deficits, the rise in unemployment in greeece and spain, the fact that EU is over concerned with inflation will damage growth and employment (Phillips curve). The fiscal rule will reduce confidence in businesses will lead to a fall in growth..
3. Overall: UK will be better if they join the EU in the short term.. but in the long-term trade off will occur-inflation and unemployment and so on.. and said that UK will better generate Economic Growth with the aid of supply side policies..

Anyone put that??

Yeah I am such a '#T-w-a-t' to be fair. Oh nice name by the way, you sound like a real samaritan.

I did pretty much the same.
1 paragraph on how the EU causes growth.
1 on fiscal policy/domestic demand management.
1 on how BRIC economies could cause growth.
Then concluded.
I also did the interest/inflation question which I thought was really nice.

Is this for part A or B?

Why have so many people addressed the essay in Context 2 as 'whether the UK should stay in the EU or not'? That is completely different to what the question is actually asking, which is how crucial the Eurozone is (as a trading partner) to stimulate UK's export-led growth. The question requires treating the UK and the Eurozone as two different trading entities as is done in the real world and is not essentially an essay about the costs and benefits to the UK of being in the EU (the UK isn't even a part of the Eurozone).

How did you guys structure your essay for section A? Also what did those of you that did 7 and 8 (inflation and interest rates) put as you main points for the essay? I found this paper so much more accessible than the f****** water and healthcare questions in the Unit 3 paper.

Yeah, but was the question implying the UK should leave the EU? Or just concentrate more on trading with others?

No that is correct for context a. The confusion has arisen over whether it is about whether we should leave the EU, this is incorrect.


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So just to be clear, it wasn't implying if the UK should leave the EU or not, it was just asking whether the EU is their best bet at recovery or if they should try and focus elsewhere.

No, it was saying "is the EU going to provide the most growth to the UK over the next few years?"
I don't know how that relates to pros and cons of the EU, but if you wrote about leaving the EU, you'll still pick up marks...

Exactly, it didn't even occur to me that anyone would think it was pros/cons of the EU. The article pretty much gave the answers.
Hard luck to anyone who wrote about pros/cons of the EU, but I'm pretty sure you'll do better than you think, so I wouldn't worry too much.

Nah I didn't write about leaving the EU, I just wanted to clear that up.

I just wrote about how there's free trade between the countries, and some of the countries are doing well e.g. Germany, but there is tight fiscal policy holding back growth, also BRIC /other emerging economies may be better trading partners, those who are doing well might already be trading with others so e.g. Germany is now a saturated market, and that the EU is overly fixated on its inflation rate and its fiscal policy. Saying they should maybe loosen it more, to allow growth.

Conclusion I just said, should keep strong trading links with EU since it eventually will recover, and it is its major trading partner for the UK, but the UK should also build trading links elsewhere to reduce dependency on just the EU and reduce negative external shocks in the future.

I did pretty much the same.
1 paragraph on how the EU causes growth.
1 on fiscal policy/domestic demand management.
1 on how BRIC economies could cause growth.
Then concluded.
I also did the interest/inflation question which I thought was really nice.

That is exactly what I put I mean same structure and everything And high 5 got the interest/inflation question too

Pretty much did the same. Which section B question did you do?

Iv made a mess of this question lol

1. Intro
2. How being in the EU causes growth
3. How leaving the EU would affect growth
4. Small paragraph about fiscal and supply side policy
5. Conclusion

Talked about AD, unemployment, consumption, investment

Damnnnnnnnnnn! What an epic fail!