OFFICIAL OCR ECONOMICS F582 21st MAY 2014 THREAD**

For the essay, I wrote about how supply side policies can be used to help reduce the current account deficit and help move in to a current account surplus as training and education can help train workers to have a more skilled labour force. I also put how subsidies could help to lower the cost of production. Moreover, I linked it to the case study, as the Turkish people said that 'Supply Side' policies could be used to reduce the Current Account Deficit.

I then evaluated and justified my reasons.

Would I get A04 marks for what I have put?

Did you put how it would benefit the economy???

If not you may be limited

Reply 481

VinayPatel

8

Original post by joejoejoejoe

Did you put how it would benefit the economy???
If not you may be limited

Yeah mate, I did and I gave valid reasons.
How many marks am I looking at with the rest of the essay being fairly decent?

Reply 482

joejoejoejoe

2

Original post by VinayPatel

Yeah mate, I did and I gave valid reasons.
How many marks am I looking at with the rest of the essay being fairly decent?

Post a basic outline of the essay you put as it's hard to give an estimate mark but it sounds like you'll have a fairly high mark from it.

Reply 483

VinayPatel

8

Original post by joejoejoejoe

Post a basic outline of the essay you put as it's hard to give an estimate mark but it sounds like you'll have a fairly high mark from it.

Definition of Current Account
Definition of Current Account Surplus
Definition of Current Account Deficit

Forgot diagram :// (people say I can still get full marks without a diagram)

Benefits of having a current account surplus (x3 with justification)

Drawbacks of having a current account surplus and benefits of having a current account deficit (x3 with justitication)

Alternative method: Supply side policies (x2 advantages and disadvantages)
Short term and long term impacts of having a current account surplus/deficit

It depends on... (the amount of surplus in the current account)

Sustainability of having a long term current account surplus

Evaluation with justification.

Reply 484

joejoejoejoe

2

Original post by VinayPatel

Definition of Current Account
Definition of Current Account Surplus
Definition of Current Account Deficit

Forgot diagram :// (people say I can still get full marks without a diagram)

Benefits of having a current account surplus (x3 with justification)

Drawbacks of having a current account surplus and benefits of having a current account deficit (x3 with justitication)

Alternative method: Supply side policies (x2 advantages and disadvantages)
Short term and long term impacts of having a current account surplus/deficit

It depends on... (the amount of surplus in the current account)

Sustainability of having a long term current account surplus

Evaluation with justification.

That is at least 16 marks, most likely 18.

Reply 485

fluctuationsman

was the answer to the calculation $63billion?

Reply 486

joejoejoejoe

2

What sort of mark would I get for:

Definition of current account

Graph of effect of moving from current account deficit to surplus with explanation

Benefits to the economy eg unemployment decrease etc.

Could be negative with inflation etc.

Conclusion with justified judgement

Reply 487

Hitoeveryone

Sorry to add fuel to the fire but I'm pretty surprised you guys found the paper hard, i found it relatively easy! But i still don't think i can beat my last years score of 59 but expecting at least 57/58 out of 60, but never know might even come out with full Marks. Predicted the essay word to word! couldn't have gone any better.

Reply 488

joejoejoejoe

2

Original post by Hitoeveryone

Sorry to add fuel to the fire but I'm pretty surprised you guys found the paper hard, i found it relatively easy! But i still don't think i can beat my last years score of 59 but expecting at least 57/58 out of 60, but never know might even come out with full Marks. Predicted the essay word to word! couldn't have gone any better.

Why even redo it. You will have had full UMS anyway. Tart

Reply 489

Hitoeveryone

Original post by joejoejoejoe

Why even redo it. You will have had full UMS anyway. Tart

I can't show my face to my family without full marks,

(edited 9 years ago)

Reply 490

joejoejoejoe

2

Original post by Hitoeveryone

I can't show my face to my family without full marks, I'M ASIAN WHAT DO YOU EXPECT?

AHHHHHH, so you're taking the piss. Thought so

Reply 491

MrHogwash

6

Original post by Hitoeveryone

Sorry to add fuel to the fire but I'm pretty surprised you guys found the paper hard, i found it relatively easy! But i still don't think i can beat my last years score of 59 but expecting at least 57/58 out of 60, but never know might even come out with full Marks. Predicted the essay word to word! couldn't have gone any better.

You're prick!

Reply 492

dre321

What did people right for the ' comment on how increase in savings can lower inflation'. 6marks

Reply 493

joejoejoejoe

2

Original post by dre321

What did people right for the ' comment on how increase in savings can lower inflation'. 6marks

Reduce consumption, AD shifts in/decreases, price level drops

Depends upon size of increase in saving, ceteris paribus etc.

Reply 494

dre321

Original post by joejoejoejoe

Reduce consumption, AD shifts in/decreases, price level drops

Depends upon size of increase in saving, ceteris paribus etc.

yh that exactly what i wrote, my friend talked about cost push inflation on the evalutation part, he said he mentioned that if firms reduce their prices then this means production costs will increase..... which leads to cost push inflation, but not sure if that is right

(edited 9 years ago)

Reply 495

dre321

What did people get for the multiplier effect question about south korea and turkey

Reply 496

kingdoo

15

Original post by dre321

What did people get for the multiplier effect question about south korea and turkey

It said for South Korea that consumers spend less of their disposable
income or something like that so I said this means the multiplier effect is greater in Turkey.

What did you say for Turkey experiencing rapid economic growth I talked about government spending which has significantly increased output and moreover has been spent on the labour force especially women so therefore the quality of labour has increased increasing investment on workers which increases consumer income as they then have a more disposable income consequently this causes a tripling multiplier effect as government spending investment and consumer expenditure have all increased leading to rapid AD shift to the right and therefore rapid growth.

Reply 497

DoctorDren

2

I got 68.04bn i remember for the calculation question or something like that

Reply 498

kingdoo

15

Original post by DoctorDren

I got 68.04bn i remember for the calculation question or something like that

Correct I got the same and I know a lot of people who got that and it is weird because I am not normally good at the maths in economics sometimes you have to scout out for the relevant info in the text. What did you put for the economic growth question in Turkey. Is what I put above similar or has points similar to yours?