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Edexcel AS Economics (New Spec) Unit 2 - 23rd May 2016

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Guys how was the paper!!!
Original post by rosemondtan
Guys how was the paper!!!


It was shite
Original post by rosemondtan
Guys how was the paper!!!


It went amazing :biggrin:.

What did you guys do for the essay question i did the second one.

I talked about how the uk ussd a fiscal policy
I talked about how japan used a monetary (quantitative easing policy)
I talked about how the eu used a normal monetary policy

I explained them all, evaluated them all and concluded.
Original post by Bruce267099
It went amazing :biggrin:.

What did you guys do for the essay question i did the second one.

I talked about how the uk ussd a fiscal policy
I talked about how japan used a monetary (quantitative easing policy)
I talked about how the eu used a normal monetary policy

I explained them all, evaluated them all and concluded.


It was great!!! I chose the second question too and went into detail about expansionary monetary and fiscal policy basically :smile: didn't mention Japan and the U.K. Specifically but mentioned what the EU used to stimulate demand and evaluated all too :smile:
Same I did the second one and used some detail I researched last night! Went well, spent too long on the 15 marker and not sure about the MCQ where it said reasons why the inflation is like it is now in the uk coz I'm not sure what level it actually is but ah well, think it was much MUCH better than micro, thank god...probs still have to resist next year lol
Idk why but I was talking about Japan's use of negative interest rates. It was a good paper but I probs didn't do too well.
Tbh I didn't like the 10 marker.
Original post by rosemondtan
It was great!!! I chose the second question too and went into detail about expansionary monetary and fiscal policy basically :smile: didn't mention Japan and the U.K. Specifically but mentioned what the EU used to stimulate demand and evaluated all too :smile:


We learn it so you have to do 3 seperate points so i did what you did and i knew japan liked quantitative easing so i slipped that in as my third point.

I got so worried when i read the question because our paper is about UK economics and half of it was about international countries :biggrin:. Pretty confident i answered it write though. What did you think about the rest of it.
What did we all put for the 15 marker.

I said how deflation caused unemployment, talked about how it contract LRAS and showed it on the phillips curve.

I said how deflation causes economic decline.

I said how deflation causes lower living standards as there is less consumption and i linked it to the real income data.

And was it just me that found section A weird, there were so many definition questions, i really wasn't expecting it. :biggrin:
(edited 7 years ago)
Original post by Bruce267099
We learn it so you have to do 3 seperate points so i did what you did and i knew japan liked quantitative easing so i slipped that in as my third point.

I got so worried when i read the question because our paper is about UK economics and half of it was about international countries :biggrin:. Pretty confident i answered it write though. What did you think about the rest of it.


My teacher says you don't need to know the state of other economies for unit 2 but that is a pretty good response! I basically said that confidence was low during the recession and banks were already facing issues regarding finances so they wouldn't lower interest rates just because of expansionary monetary policy :smile: other questions were bomb!!!
Original post by rosemondtan
My teacher says you don't need to know the state of other economies for unit 2 but that is a pretty good response! I basically said that confidence was low during the recession and banks were already facing issues regarding finances so they wouldn't lower interest rates just because of expansionary monetary policy :smile: other questions were bomb!!!


I know i surprised myself with that response :biggrin:, can't believe economics is over until next year now.
Reply 330
Did anyone not pick F like me? 🤔
I did the 1st 20 mark question:

f) Evaluate how successful the MPC was in controlling inflation (20)

This was very difficult compared to the easy second choice
Original post by Dnkz7
Did anyone not pick F like me? 🤔


Everyone I've spoken to picked g)
Anyone do context 1?
Reply 334
Original post by AstarAstarA
Everyone I've spoken to picked g)


I didn't think so, talked about macroeconomic objectives like sustainable economics growth, how the economy was is recover, the base rate being 0.5% and inflation being the same, the mutiplier effect, forgot to talk about quantitative easing but generally used the LRAS diagram and just described how it would lead to banks lending more cheaply etc.
Original post by harrydunn11
Anyone do context 1?


What is context 1?
Original post by AstarAstarA
I did the 1st 20 mark question:

f) Evaluate how successful the MPC was in controlling inflation (20)

This was very difficult compared to the easy second choice


I was about to pick that one, was it about over shooting and under shooting the inflation target?
Original post by Bruce267099
I was about to pick that one, was it about over shooting and under shooting the inflation target?


The target is 2% with a range of 1-3%
Figure 2 showed it being <1%...
Original post by AstarAstarA
The target is 2% with a range of 1-3%
Figure 2 showed it being <1%...


Glad i didn't pick that one, it looked quite hard.
Reply 339
Anyone do Economics B not A?

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