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Economics Unit 2 Edexcel - Managing the UK economy Tuesday 19th May 2015 (PM)

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So what the whole question 2 was based on a recession, if we didn't take that into account we won't get full marks?

All responses seem subjective
Original post by member1753327
So what the whole question 2 was based on a recession, if we didn't take that into account we won't get full marks?

All responses seem subjective


See I don't think that because generally, the exam has to appeal to everyone sitting it which means they can't expect you to know something which they haven't put on the syllabus. However, in the context of that specific question it may well have to be contextual. But generally, it will say explicitly, 'assess the factors which affect this, during a time of economic downturn' if it wanted that. I don't know tbh but valid points will always be credited, just maybe not the full marks.
Original post by member1753327
So what the whole question 2 was based on a recession, if we didn't take that into account we won't get full marks?

All responses seem subjective


I don't think question 2 was about recession?

It was about: declining Investment, Current account deficit, declining UK productivity and supply side policies to increase real output

So I guess in a way most of the questions led to a decrease in AD/LRAS which would decrease Real GDP and economic growth, but that doesn't necessarily mean the economy is an a recession
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Jemy
11
Has anyone been able so far to 100% verify the 30 marker for question 1 and I mean verify word for word with their own eyes or through a teacher...? The British Council over here is being a bitch and not handing out the spare paper to my school...
Too much uncertainty, I hope it's not contextual, because I didn't take that into account, I'm pretty sure the exam would not be that hard where you should pick out specific points tailored to the context

No way..
Original post by AJC1997
I'm yet to know anyone who actually understood the first question on question 10 - 'explain what is meant by uk business investment at 2010 prices'

it confused me further because the dates ranged from 2008-2013.

I made up something about how 2010 was used as a comparative base year for the other years, defined investment, took data from the figure


2010 is taken as the base year for price levels, so if theirs inflation in 2011 they adjust it in relation to 2010 so if Investment rose by 2% but iflation rose by 1% they would show investment rising by 1%
Original post by Praveen101
2010 is taken as the base year for price levels, so if theirs inflation in 2011 they adjust it in relation to 2010 so if Investment rose by 2% but iflation rose by 1% they would show investment rising by 1%


Ok would they credit me 1 mark for saying 'investment at 2010 prices means that 2010 was used as the base year for all the other years'? + defined investment + took data from figures.

I'm happy with 3/6 for this question
Reply 907
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as421
2
Original post by prepdream
Oh I think it's fine in general. Immediately chose Q1 after 15 seconds looking through it as I thought the investment and productivity questions would not be easy for me :smile: I hope I didn't drop a lot of marks for silly mistakes (which I tend to do haha :biggrin:) so hopefully reach an A for it :smile:
But yeah, I think your points would be fine as long as you explain nicely. Worst case would be around 22-23 if my marking was generous as I haven't read your essay but basing on how many points you made :biggrin:


OMG no took me a good 5 minutes to read through the questions and see, so I wasn't surprised I was running out of time! Can't believe you decided on a question so quickly!! Literally almost started crying and really didn't want to do the exam 😂 also did the first question LAST bc I had no idea wth was going on!! Omg also I didn't put a cross in the box.. Does it matter? I realised after they took my paper in 😳


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Original post by as421
OMG no took me a good 5 minutes to read through the questions and see, so I wasn't surprised I was running out of time! Can't believe you decided on a question so quickly!! Literally almost started crying and really didn't want to do the exam 😂 also did the first question LAST bc I had no idea wth was going on!! Omg also I didn't put a cross in the box.. Does it matter? I realised after they took my paper in 😳


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Me too, I did not put a cross on it. Hopefully nothing will go wrong as I didn't write anything another question so they will know that I chose Q1.
Haha I hestitated for 5 seconds when looked at house prices question, but then realised that it was not that hard. After all, quite satisfied with my exam and good luck to both of us on result day :wink:
Original post by Jemy
Has anyone been able so far to 100% verify the 30 marker for question 1 and I mean verify word for word with their own eyes or through a teacher...? The British Council over here is being a bitch and not handing out the spare paper to my school...


It is how demand-side policies cause conflict between the different macroeconomic policies. That's not word perfect, but it's definitely 'between' and not 'with' like lots of people were saying. My dad is an economics teacher and he was looking through the paper earlier. Hope that helps :smile:
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Jemy
11
Original post by ElizaLea
It is how demand-side policies cause conflict between the different macroeconomic policies. That's not word perfect, but it's definitely 'between' and not 'with' like lots of people were saying. My dad is an economics teacher and he was looking through the paper earlier. Hope that helps :smile:


Thanks for your reply, but we resolved the 'between' and 'with' issue virtually yesterday. However, now the issue is between;

'To what extent do demand side policies lead to conflicts between macroeconomic objectives'

or

'To what extent do demand side policies conflict between the macroeconomic objectives of the economy?'

If the second one was the question then technically speaking the 'with' people were correct in their rational and would explain this entire debate. Therefore, finally getting to know every word of that question will finally put an end to it once and for all!
Original post by Jemy
Thanks for your reply, but we resolved the 'between' and 'with' issue virtually yesterday. However, now the issue is between;

'To what extent do demand side policies lead to conflicts between macroeconomic objectives'

or

'To what extent do demand side policies conflict between the macroeconomic objectives of the economy?'

If the second one was the question then technically speaking the 'with' people were correct in their rational and would explain this entire debate. Therefore, finally getting to know every word of that question will finally put an end to it once and for all!


are you sure this question wasn't some kind of optical illusion? haha but I think it was the first one, I did the other question but remember reading the 1st 30 mark question but maybe I'm wrong! My teacher is going to go through the paper with us briefly on friday so I can confirm exactly what the question was for you
For the weird question about investment at real prices I defined investment, and simply put data reference. Possible to get 3 marks?
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Jemy
11
Original post by AJC1997
are you sure this question wasn't some kind of optical illusion? haha but I think it was the first one, I did the other question but remember reading the 1st 30 mark question but maybe I'm wrong! My teacher is going to go through the paper with us briefly on friday so I can confirm exactly what the question was for you


The thing is that when I started the question I was convinced that it was the second one without seeing the 'between' most likely blinding it out due to its irrelevance, but when I finished I saw 'between' in my last two minutes and freaked out. Also I could swear macroeconomic objectives was not the end of the sentence as well as 'the' and 'economy' being there as well...

And yes please! If until Friday no one else establishes certainty once and for all, if you could share it on here that would be greatly appreciated!
what will the grade boundries be , last year it was 60 for an A (75%) i think this year it will higher maybe 64
Reply 915
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as421
2
Original post by prepdream
Me too, I did not put a cross on it. Hopefully nothing will go wrong as I didn't write anything another question so they will know that I chose Q1.
Haha I hestitated for 5 seconds when looked at house prices question, but then realised that it was not that hard. After all, quite satisfied with my exam and good luck to both of us on result day :wink:


Ugh wish I was satisfied but I've just got this knack in the back of my mind 😁 yes good luck to both of us! I think I'll need it 😂


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Original post by Jemy
Thanks for your reply, but we resolved the 'between' and 'with' issue virtually yesterday. However, now the issue is between;

'To what extent do demand side policies lead to conflicts between macroeconomic objectives'

or

'To what extent do demand side policies conflict between the macroeconomic objectives of the economy?'

If the second one was the question then technically speaking the 'with' people were correct in their rational and would explain this entire debate. Therefore, finally getting to know every word of that question will finally put an end to it once and for all!


The question, copied directly out of the paper, is 'To what extent do demand-side policies lead to conflicts between macroeconomic objectives?' with no 'in the economy' so that should finish the debating. Sorry I got the wrong idea before, I haven't read the whole thread. :smile:
an someone answer this
Is it true that there are separate 'grade boundaries' for the harder question?
Original post by ElizaLea
The question, copied directly out of the paper, is 'To what extent do demand-side policies lead to conflicts between macroeconomic objectives?' with no 'in the economy' so that should finish the debating. Sorry I got the wrong idea before, I haven't read the whole thread. :smile:


OMG that gave me a huge relief! :biggrin: Thank you so much for the information!
Original post by prepdream
OMG that gave me a huge relief! :biggrin: Thank you so much for the information!


I'm glad that I have helped :smile: How did you find the whole exam?

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