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Edexcel Economics Unit 4 Global Economy Discussion Thread (10.June.2014)

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Reply 480

aminkaram

The savings gap can be shown using the harrod dommar model right?

Reply 481

Farringtonn

Original post by aminkaram

They haven't changed the structure. It's always been like this. According to one of our teachers who is an examiner they mark essays based on the level criteria not on kaa and evaluation. So the examiner will look to see if you've given the structure for the level 5 answer. Then they will check to make sure all of your points are valid and that you have an intro and conclusion. And then they decide what mark exactly you deserve in that level criteria based on the depth of your response etc...
But the structure of essays should Definitely be the same. That's what they want to see

Do you need an introduction and conclusion?

Posted from TSR Mobile

Reply 482

aminkaram

Original post by Farringtonn

Do you need an introduction and conclusion?

Posted from TSR Mobile

We've been told to always write one. The introduction can get you a knowledge mark and the conclusion can get you evaluation.

Reply 483

aminkaram

The value of the US dollar has been declining steadily against other
currencies since 2002. Examine the possible causes of this decline.

How would you evaluate this question?

Reply 484

Qmakz

Mensures / policies to reduce inequality or poverty?

Just supply side policies like education training, capital programs ? And basically encouraging trade, FDI things such as AID and debt cancellation in order to allow for these policies in developing countries ? Any other ideas?

Reply 485

Qmakz

Original post by Qmakz

Also higher taxation on rich such as progressive taxation to redistribute income and subside education so that low income families have access ?

Reply 486

Dilzo999

Original post by aminkaram

The value of the US dollar has been declining steadily against other
currencies since 2002. Examine the possible causes of this decline.

How would you evaluate this question?

What analysis points did you use?

Reply 487

Dilzo999

Original post by Qmakz

Also higher taxation on rich such as progressive taxation to redistribute income and subside education so that low income families have access ?

Yup pretty much those, taxes and supply side have pretty nice evaluations as well :smile:

Reply 488

Qmakz

Original post by Dilzo999

Yup pretty much those, taxes and supply side have pretty nice evaluations as well :smile:

I always seem to run into you :biggrin:

if I remember correctly you may have firmed warwick morse? If so, I have also done that :tongue:

Reply 489

Dilzo999

Original post by Qmakz

I always seem to run into you :biggrin:

if I remember correctly you may have firmed warwick morse? If so, I have also done that :tongue:

You know what they say, great minds think alike :wink:

. How is unit 4 going for you?

Reply 490

tsrking

When value of currency depreciates why do they export more? If it is more expensive to import dont they just stop importing? Why would they randomly say ok imports are expensive so lets make goods?

Reply 491

tsrking

Also how is the currency depreciation done.
In questions like june 2013, 1b, are we allowed to talk about supply side and fiscal a lot then evaluate them then do monetary and evaluate that?

Reply 492

4.2.0

Original post by tsrking

When value of currency depreciates why do they export more? If it is more expensive to import dont they just stop importing? Why would they randomly say ok imports are expensive so lets make goods?

Because their exports will seem more attractive to foreigners due to the devalued currency. The country with the low value currency doesn't just stop importing, but domestic goods will become more attractive as the marginal propensity to import reduces.

Reply 493

Spartz

Original post by tsrking

When value of currency depreciates why do they export more? If it is more expensive to import dont they just stop importing? Why would they randomly say ok imports are expensive so lets make goods?

They export more because their goods are cheaper to other countries. Let's say £1 is $1.50 if the pound goes down the following year to 80p/$1.50 the Americans would want to buy more goods cause they can get more for exactly the same money they did a year ago

Reply 494

aminkaram

Original post by Dilzo999

What analysis points did you use?

I haven't done it. But I was writing a plan for it. Factors were:
1. Inflation
2. Interest rates
3. Competitiveness

Reply 495

Ff96

June 2012, 5e "discuss the view that governments of countries with large budget deficits should take measures to reduce them as quickly as possible" for the life of me I can't understand the mark scheme. Anyone?

Reply 496

4.2.0

Original post by Ff96

I haven't read the mark scheme but you could possibly talk about:

•

Reduction of large budget deficits could increase confidence and therefore increase investment as a result (This is what the UK is doing to an extent, rather than fiscal stimulus).

•

Accumulating a high amount of debt could lead to inflationary pressures as injections are greater than withdrawals in the circular flow of income.

•

With high levels of government spending that causes large budget deficits, crowding out of the private sector could occur and again reduce investment from businesses.

•

There is an opportunity cost for future generations as they will have to eventually stomach interest payments from the accumulated public sector debt.

Reply 497

Kutie Karen

Hi,

Can someone pleas explain the Harrod Domar model?

Reply 498

Kutie Karen

What does moral hazard mean?

Reply 499

Qmakz

Original post by Dilzo999

You know what they say, great minds think alike :wink:

. How is unit 4 going for you?

Haha true that :smile:

and it's going really well now, I had to do the whole syllabus in a week but I basically did a no life and tortured myself but now I'm really good with it, did a mock yesterday on June 2013 paper for my teacher and got 86% and did another today and got 90%, I'm quite comfortable as I feel I did really well on unit 3, but want that A* especially since the boundaries tend to range from 70-80. What about you? Are you doing D1 M2 S2 fp3 also?