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**********OFFICIAL OCR ECONOMICS F582 21st MAY 2014 THREAD************

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Yep you are among the people who found the paper straightforward like me. Good luck with your other exams sir.

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For the question 'why may the government want to achieve economic growth'. I wrote living standards would increase, and also government may want to increase tax revenue in order to improve services such as healthcare and education. Would this get 4 marks?
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tash282
Original post by Ben_S96
Same. What did you get last year? What are you aiming for? Are you doing f583 and f585 this year?


Completely ballsed up last year like I had no clue in that paper and hadn't revised as hard as I should have done so got a D and a B in the other one. Need a B, but an A would be nice, pretty pleased with exam (I think after learning a2, AS is just easier). What are you aiming for and how did you do last year? We are doing transport not work and leisure. But yeah same macro paper. How are you finding it?
Original post by thunguyen168
Hey, same here. I got 72 ums marks last year and 4 ums marks off an A overall. Retook so there wouldn't be too much pressure on f583 and 585. But apparently, that plan didn't work out. Sucks

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Haha, this exam wasn't very nice was it...really have no idea how I've done. I'd like to think significantly better than a C. I've predicted the global paper so revision should be easy. F583 is a nightmare though. Fingers crossed for labour market failure.
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tash282
Original post by RavinderKlair97
For the question 'why may the government want to achieve economic growth'. I wrote living standards would increase, and also government may want to increase tax revenue in order to improve services such as healthcare and education. Would this get 4 marks?


well i hope so, because i wrote pretty much that
Original post by tash282
Completely ballsed up last year like I had no clue in that paper and hadn't revised as hard as I should have done so got a D and a B in the other one. Need a B, but an A would be nice, pretty pleased with exam (I think after learning a2, AS is just easier). What are you aiming for and how did you do last year? We are doing transport not work and leisure. But yeah same macro paper. How are you finding it?


I got a C in this paper last year but an A in f581 so overall got a B. Need an A for uni. Is transport any good? Looked through it in the textbook and think I prefer work and leisure. I like the global economy and have sorted predicted the paper to make revision easier. What about you?
Guys, may I ask u sth? I was told that if I resit the exams for example unit 1 and unit 2 and if in case my new exam score is lower than the first one, will they still take the new one or the old one? :frown:


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Reply 327
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tash282
Original post by thunguyen168
Hey, same here. I got 72 ums marks last year and 4 ums marks off an A overall. Retook so there wouldn't be too much pressure on f583 and 585. But apparently, that plan didn't work out. Sucks

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I am sure you've done well like after f585 AS seems more straight forward. How are you finding F585?
Original post by BIGskell
You needed to say that the South Korean households spent less in relation to other MIST countries but their GDP was higher. Meaning the final change in real GDP was much larger than the change in the component of AD


How many marks would this gain:

The multiplier effect is the process by an increase in a component of AD results in a greater final change in real GDP. In the extract, SK's real GDP per capita was relatively higher, yet the GDP of Turkey was higher so it had creater growth- so there is a difference in multiplier.

Rubbish answer- just wrote whatever BS came to my mind.
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tash282
Original post by Ben_S96
I got a C in this paper last year but an A in f581 so overall got a B. Need an A for uni. Is transport any good? Looked through it in the textbook and think I prefer work and leisure. I like the global economy and have sorted predicted the paper to make revision easier. What about you?


Yeah same have a list of predicted questions. I love transport, it really interesting. My favourite part of micro is the multiple choice essays
Original post by Anon606
For the 18 marker I put The balance of payments is the money coming in and out of the economy, and that with a surplus it meant more money is coming into the economics than what's going out.

I went on to talk about it was likely down to exports increase meaning AD increase and AS stayed the same meaning higher price level more output

I then talked about how it would cause inflation and also how the government would earn more money from taxes which they could spend on supply side policies to reduce inflation

Is that correct?


Absolutely identical to what I wrote. I stuck in some stuff about it depending on the size of the AD shift etc. I think it's right, it all made sense as I was writing it so I don't see why it wouldn't be.
Original post by tash282
I am sure you've done well like after f585 AS seems more straight forward. How are you finding F585?


Its easier after doing a2. But the question about multiplier and rapid growth caught me by surprise. So I have already lost 8 marks so far. 585 is meh, I'm revising from different revision guides. But it seems like the possible questions are infinite

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Original post by May-o2q
Guys, may I ask u sth? I was told that if I resit the exams for example unit 1 and unit 2 and if in case my new exam score is lower than the first one, will they still take the new one or the old one? :frown:


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The highest one

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Original post by Ben_S96
Haha, this exam wasn't very nice was it...really have no idea how I've done. I'd like to think significantly better than a C. I've predicted the global paper so revision should be easy. F583 is a nightmare though. Fingers crossed for labour market failure.


What did you predict for global paper?

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Original post by thunguyen168
The highest one

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Even if I retake both unit1 and unit2, right.?


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Reply 335
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tash282
Original post by thunguyen168
Its easier after doing a2. But the question about multiplier and rapid growth caught me by surprise. So I have already lost 8 marks so far. 585 is meh, I'm revising from different revision guides. But it seems like the possible questions are infinite

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yeah I know the feeling, I am getting paranoid that something random is just going to come up, that I haven't predicted for it. Much prefer A2 Micro to Macro
Think my easy answer was completely wrong.
I said about the disadvantages of a deficit, then the the advantages of a surplus. Then I said how if a surplus isn't used then maximum welfare isn't achieved. I forgot to mention anything about inflation, or that AD will increase. Will i get 0?
what did people put for the monetary policy question is high interest rate and low interest rate efficient for the 4 mark elaborated?
Reply 338
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tash282
Original post by falconinni
Think my easy answer was completely wrong.
I said about the disadvantages of a deficit, then the the advantages of a surplus. Then I said how if a surplus isn't used then maximum welfare isn't achieved. I forgot to mention anything about inflation, or that AD will increase. Will i get 0?


you'll definitely get some marks, surplus for maximum welfare is good eval. did you draw a diagram and explain cos thats instant level1/2
I can't be the only one who thought the micro was harder than macro? :s-smilie: I thought the macro was alright, aside from the multiplier effect and the 3 differences question.

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