AQA Econ4 June 2014

sagarpandit

Anyone doing ECON4 in June 2014 - what do you think will come up?

Reply 1

gr8wizard10

21

Original post by sagarpandit

Anyone doing ECON4 in June 2014 - what do you think will come up?

Yup, I'll be taking that exam. Nobody knows, revise everything.

Reply 2

Jkizer

16

Easier than Unit 3 for sure.

Reply 3

Alex-Torres

15

I think Ukraine's entry to the EU will come up.

Reply 4

GrammarGirl

11

Original post by Alex-Torres

I think Ukraine's entry to the EU will come up.

When did they enter the EU, papers are set about 18 months before, so probably late 2012/early 2013 set.

Reply 5

GrammarGirl

11

Also what are the main points we need to know about the EU, i find it the hardest topic - effect on the UK if countries enter/leave, benefits and drawbacks of the UK having the euro?

Reply 6

Alex-Torres

15

Original post by GrammarGirl

When did they enter the EU, papers are set about 18 months before, so probably late 2012/early 2013 set.

They haven't joined, but thats what the recent riots have been about. There has been controversy over the subject in Ukraine for about 2 years.

Maybe they could ask us, the effect on England of their entry (Low skilled workforce, deindustrialization, strengthening of the pound, GDP, unemployment, less funding for UK etc) or reasons why Ukraine would want to join (avoid CET, free trade, subsidies etc)

Reply 7

Jkizer

16

Original post by GrammarGirl

Also what are the main points we need to know about the EU, i find it the hardest topic - effect on the UK if countries enter/leave, benefits and drawbacks of the UK having the euro?

From my past questions booklet, the questions they generally ask mostly to do with:
Effects on Uk from expansionary policies within the EU e.g. Higher borrowing, higher econ growth,
General effects on UK from expansion of EU - As people said, new countries hypothetically joining like Turkey (And vice versa withj countries leaving)
UK and the euro

Euro chapter is the only chapter which i'm quite uncomfortable on :frown:

Only section on unti 4 i havent written essay notes on !

Reply 8

danlocke

3

I've got S1 and FP1 on the same day as ECON4 :frown:

Reply 9

Seb4747

3

A quick question - Are we supposed to assume that the UK has a completely free-floating exchange rate system? If so, then can we not talk about currency devaluation as a method which could be used to reduce the current account deficit? Thanks in advance

Reply 10

Alex-Torres

15

Original post by wobmatthew

A quick question - Are we supposed to assume that the UK has a completely free-floating exchange rate system? If so, then can we not talk about currency devaluation as a method which could be used to reduce the current account deficit? Thanks in advance

In the UK the Bank of England has not intervened DIRECTLY in the currency markets to influence the external value of the pound. So we can still claim to have a FREE FLOATING exchange rate in practice. That said the depreciation of sterling during 2008-09 was accelerated by the drastic cuts in official policy interest rates in the UK and also by the quantitative easing programme. So perhaps the Governor of the Bank of England Mervyn King had ‘managed’ to achieve a useful currency depreciation through the back door!

Devaluation of a currency is known an expenditure switching policy to reduce the deficit on current account.

Reply 11

samboJ

11

Original post by wobmatthew

A quick question - Are we supposed to assume that the UK has a completely free-floating exchange rate system? If so, then can we not talk about currency devaluation as a method which could be used to reduce the current account deficit? Thanks in advance

Yeah, expenditure switching (devaluation which leads to 'J-curve effect') and expenditure reducing (contractionary FP / MP).

Reply 12

A193

2

For this essay:

"Discuss the possible contribution of supply-side reforms to achieving an improvement in
the UK balance of trade in goods." (25 Marks)

Would I set it out as:
Paragraph 1: contribution of SS reforms
Paragraph 2: another factor for the contribution of SS reforms (then evaluate SS reforms, such as time lags)
Paragraph 3: against SS reforms (depreciation of £, then evaluate this - J-curve)
Paragraph 4: against SS reforms (import control, or expenditure reducing policies, then evaluate these - loss of welfare and lower standard of living, respectively)

Or would I have 2 paragaphs of the SS reforms, and then evaluate the SS reforms, and then say whether SS reforms are good or not.

Reply 13

GrammarGirl

11

I find Unit 4 so much better than Unit 3. Aiming for an A* but I think Unit 3 may let me down a bit. Did my mock in both the other week - Unit 4, 98 UMS. - Unit 3 - 82 UMS.
What are people thinking will come up on the exam?

Reply 14

samboJ

11

Original post by GrammarGirl

I find Unit 4 so much better than Unit 3. Aiming for an A* but I think Unit 3 may let me down a bit. Did my mock in both the other week - Unit 4, 98 UMS. - Unit 3 - 82 UMS.
What are people thinking will come up on the exam?

I'm in the same situation. I got 94 UMS on my Unit 4 mock and 56 UMS on my Unit 3 mock...Anyway we've been told the most common topic is exchange rates (and the results of a strengthening / weakened; fixed / floating etc)

AQA Econ4 June 2014

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