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

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Reply 780

4.2.0

Original post by TheHenri

It was definetely not deficit though, because it sad imbalances.

Sorry yeah, current account imbalances, I said deficit cause all the countries had deficits except for Germany :frown:

Reply 781

lizzie196

Original post by Fullycorporate

Yeah it was worded weirdly, I just stuck with France to be on the safe side yet I had no real life examples to back up my points :/

Yeah, well i took it in the exam to mean it was just the effects of a general increase in tax rates, so i didnt mention any country, and implicitly implied i was talking about the UK, just really hope that they dont cap the mark at 24/30 for not referencing a specific country or France. I dont think they will expect any specific examples from France so i wouldnt worry about it :smile:

Reply 782

Dilzo999

Original post by Ff96

Part a mentioned country so I just threw in the uk and tax rates etc, and for part b no it didn't explicitly ask so I didn't mention a county either, hopefully we're ok

I threw in uk tax rates as well :smile:

. Same for part b) I just mentioned france's increased tax. I was thinking of putting in the data in the question for part b into my answer for part a because it said France, UK and Greece. But just wanted to be on the safe side.

Reply 783

thatgirlag

Original post by Boy_wonder_95

The question was to what extent is savings gap the most significant condtraint to growth, so I think the intended structure was how is savings gap a constraint, other constraints and then a reasoned judgement on which factor was the most significant. But there's more than 1 way of approaching a question I suppose.

Posted from TSR Mobile

Yep, that's what I did too. how did you find it?

Reply 784

lizzie196

Original post by Ff96

Part a mentioned country so I just threw in the uk and tax rates etc, and for part b no it didn't explicitly ask so I didn't mention a county either, hopefully we're ok

Ah ok that is reassuring :smile:

, i talked about the Uk for part A I think, yeah hopefully they wont cap us on it, it would be a bit unfair to cap ppl when the question was so weirdly worded. Fingers crossed :smile:

Reply 785

aminkaram

I messed this up so badly :frown:

(
I Panicked when I saw the essays so did data first. For the essays I managed to give 3 points and 2 evaluation points + conclusion for the first one. The second one was far worse. Gave 4 points but only had time to develop one evaluation :frown:

I only stated a second evaluation point and a conclusion.
Do you guys still think I could get an A* on this if I've done well on unit 3 and considering grade boundaries. I couldn't do the 10 marker either. Just gave a definition and application cause I was short of time.

Reply 786

mxjc278

ok, I misunderstood 1a, and instead of defining budget deficit I put the definition of trade deficits.
I still made a load of applicable points, but I set out the question in the wrong way.

Would I be able to get at least 10/20 for that?

Also in the question about imbalances, was it right to talk about a current account deficit?

Panicking. Thanks!

Reply 787

Ff96

Original post by aminkaram

I messed this up so badly :frown:

We're gonna need 180 ums for the a*, let's say you got full marks in unit 3, that means you need 100 ums in this, meaning you could drop about 25 marks (comparing to last years boundaries)

Reply 788

Dilzo999

For Q1 part a I thought I read it as current account deficit and started doing a plan for that and then about 5mins later went back and saw budget deficit and was like oh ****.

Original post by aminkaram

I messed this up so badly :frown:

Aww that sucks, majority of the marks are given on analysis so you could still get around 23/24 marks if your analysis was good. Also rememeber that for 90 ums last year the marks was 79/100 and the paper this year people have been saying was quite a bit harder than last year so expect that to fall. Also as you've said unit 3 can make that even lower :biggrin:

so all is not lost.

Reply 789

Boy_wonder_95

Original post by thatgirlag

Yep, that's what I did too. how did you find it?

I quite liked it thanks. Did Q3 on growth and development, a was a bit icky and left it and came back to it at the end but b) went like a dream, plenty of examples for my points and evaluation so I think the essays went well. Did Q5 which I thought was a decent question, International Competitiveness, Current account and supply side policies which are all nice topics. Timing was tight though, defo thought I was gonna run out and had to use my full 2 hours but thankfully managed to finish. Overall I thought it was slightly harder than the 2013 paper which I did as mock but it was still alright. How did you find it? :smile:

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Reply 790

thatgirlag

Original post by Boy_wonder_95

Posted from TSR Mobile

I found timing tight, I generally finish with a decent amount of time to spare, however today I didn't finish with as much time left over as I usually do. I thought it was similar to June 2013 however I would say our section B was harder and their section A was easier. I'm pleased with the outcome overall and glad that's one A-Level done and dusted. :smile:

Reply 791

tigerz

Original post by Boy_wonder_95

Guys, I did 5 evaluation points for the 30 marker, do they only consider top 3?

Well they say do 3 eval BUT in examiner reports some people do 2 evals but on one point but its marked as one big eval :s-smilie:

Its like you saing the %increase was large and furthermore b;ah has high significant and therefore...

Its actually two but marked as one, I did that too!

Reply 792

VinceVC

To those who did 3a) what sorts of points did you give, not too sure about some of mine but once you got into 3b it went quite well in my opinion.
I wrote about China showing growth but without development,
Development coming from other sources such as aid and then a point that some measures of development include GDP per capita(supposed to be GNI per capita) therefore the two are synonymous? And evaluated each point

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Reply 793

Light_bulb

Original post by Boy_wonder_95

Posted from TSR Mobile

I couldn't agree with you more did exactly the same question as you

Reply 794

Light_bulb

Any predictions on grade boundaries?

Reply 795

tigerz

Original post by Ff96

I did question 1 and 5
5 was so weird! Worst 8 and 10 markers. Even my 15 marker was sloppy :frown:

For the diagram I did the j curve effect God knows what I wrote but I justified it
Really hope I got an A* but I'll be content with an overall A

OMDS, WE ARE SO FRIGGIN ALIKE

I did the same, the 8 marker I only got 4 marks max, I did AD shifting in diagram, wasn't sure what they meant!? It said comment If the said explain I would of did it differently!!!!
I liked the 15 but all did was unit 2 stuff >.<
12 marker was easy to do half but kinda hard to get enough points!!!

Reply 796

shankpink

That inequality question was messing me up . :frown:

that 10 mark relativ poverty and gini coefficient is it ok to include kuznut curve?

Reply 797

MereOsman

Section B's Question 5 was not nice at all.
The 15 marker: I did changing the minimum wage and introducing 0 Contract hours
The 10 marker: i did possible reasons for Germany and Greece's imbalances balancing through increased competitiveness and changes in consumer demand.
The 8 marker: i did AD and LRAS diagram. It was quite straightforward tbh.

Question 3 was very nice overall, my section a will definitely pull my grade in this paper
3a i did a few essays on before so i remembered quite a bit
3b was just a sitter with that savings gap and harrod domar, PPD and prebisch singer hypothesis, poor infrastructure, capital flight. Could have done corruption too

I hope they lower the grade boundaries, this exam was actually so nasty purely because of section b.

Reply 798

Light_bulb

Question 5c was horrible anyone else draw the economic business cycle?

Reply 799

Layla Gepghry

for question 1a i talked about fiscal austerity, but misread the question and said less crowding out and less debt and lower unemployment, would i get any marks?