AQA Economics Unit 4 11th June 2013

Me neither, and I'm not pinning my hopes on it either haha good luck for your results! Yes, we did the Jan 2013 Econ 3 one, and everyone on TSR is claiming it was extremely easy haha!

Because it was :P

Don't start getting cheeky again hahahaha i'm still proud of my score, despite what everyone is saying!!!

aha, so you should be! Are you going for Economics at uni or?

Did anyone put about alternative trade such as a potential commonwealth free trade zone or increased trade with the likes of brazil ext.

Did anyone put about alternative trade such as a potential commonwealth free trade zone or increased trade with the likes of brazil ext.

Yes! are you? don't think many people on this thread are though, by the sounds of relief at having finished it!! x

Three factors I put was:
Quality (non-quantitative)
Cost of production (quantitative)
Exchange rate

Then for 10:
Intro - SSP definition - showed it with a graph shift in LRAS right

first point - education and training... blah blah...
EVAL - very long term and depends on quality of education and training.
Also, a decrease in the price level will only improve it in the long run - BOP J curve

second point - subsidy to firm for R&D... blah.. better quality
EVAL - subsidy can cause inefficient monopolies and it is very costly. If there is a public sector net debt, then this hardly the best option.
Also is tax is increased to fund the subsidy, then this could cause brain drain/disincentive to work...

I wanted to put a third point but didn't have time. I was gona say reduce trade union power...

Conclusion was that SSP are good, such as education and training, but instead of a subsidy to firm, maybe just have tax relief for R&D. Also, I was saying that since the UK has a well educated workforce, its unlikely the the price level is the real issue, its then probably quality.
Also, I mentioned alternatively they could use demand side policies in the short run, e.g. the MPC using the interest rate to influence the exchange rate. Finally I said the use of both would be best.

What about you?

Didn't put a lot of revision time into this one though, nowhere near as much as Econ 3! I will be happy with an A still I thought it was okay, glad topics that followed on from Unit 2 came up! Well done for that Ah that's good, whereas I'm doing it at uni ahah!

That's fair but Unit 4 is generally more accessible carrying on from Unit 2 so you should get it haha . Whereabouts you looking to go?

This may be a weird question, but do you get penalised for mentioning a similar point in the Second essay that you did in the Data Response, it was inevitable to mention free trade in both the European Context question and the question on single markets?

I know they don't like it when you repeat points from the 15 marker in the 25, but maybe this is the only time it matters?


Posted from TSR Mobile

I did that too, don't worry though! I think it went okay, need an 80/100 in this one so just got my fingers really crossed! x

Ha, I'm sure it will be fine. Although you may have been better off mentioning it within your essay and then coming back to the main points during your conclusion.

I did the same as you in the 25 mark question. I also mentioned the effect of the exchange to a greater extent including the marshall Lerner condition. I also talked about the role of protectionism. Despite doing question 9 i've forgotten the working of it can you remind me. I can then try and remember what I put.

Having done quite well at AS and Jan C3 I took a bit of a punt and argued that although SSPs should boost competitiveness they won't have any real affect on BofP in the long term, as it should be balanced by exchange rates. I then suggested that the root of the deficit was a high exchange rate rate due to higher saving than investment in China, Germany and oil exporters leading to cheap capital coming out of these countries, and if this is the case then we should just roll with it, but but use the money for investment rather than consumption in case they turn off the tap.

Not sure if it made any sense but I had as much fun coming up with it as you can in an exam!