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AQA A-level Economics new 7136 - 06, 13 & 19 Jun 2017 [Exam Discussion]

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LRAS not SRAS

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Hey,
Can someone help me? So in both 25 markers I developed my first reason/policy really well and did great evaluation. Like 2/3 pages for the first point/policy. For the second reason I had good analysis but limited evaluation. How many marks would I receive or will it be limited to level 3 because I didn't talk about other policies.
Any help would be appreciated?
Question is - how are you guys revising for paper 3?? There are only two specimins on what we can base our revision?? We literally have no clue what could come up - Could be from evaluation of the EU to the objectives of a firm???
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SANTR
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Original post by callumjmoores
On the 25 marker on monetary policy in UK and Japan I only briefly spoke about a supply side alternative and didn't mention fiscal policy, how much will i get penalised?


Do you get credited for supply side policies?
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Original post by Welsby
I thought the nine marker was something like "how does and increase in productivy cause deflation", not inflation? But other than that looks good


Yeah you're right. I did that don't worry lol
Original post by Varun127


SRAS not LRAS
I did context 1 and that 25 marker on development was ****ing hard.

Essay 2-

Pattern of trade-
Comparative advantage from free trade
Quality of UK goods
Tariifs on UK exports from other countries

Current account deficit-
expenditure switching- devaluation
expenditure reducing- deflating the economy
Conclusion- other policies
Context 2 Calculation Question answer was 0.48% I believe
Just someone give me comfort that micro finance Is a market based policies because I based my entire essay on that also talked about privatisation and then protecionism as argueing for intervention by governments
So much crap
I didn't even used a tariff diagram because my essay was getting way too long :frown:
Original post by NotKidding
Context 2 Calculation Question answer was 0.48% I believe


yeah that's what I got! :smile: looking at exemplars i think your essays are limited to 16 marks if you don't talk about 3 or more policies. Can someone confirm this?
What answers did you include ??


Original post by junky27
I did context 1 and that 25 marker on development was ****ing hard.

Essay 2-

Pattern of trade-
Comparative advantage from free trade
Quality of UK goods
Tariifs on UK exports from other countries

Current account deficit-
expenditure switching- devaluation
expenditure reducing- deflating the economy
Conclusion- other policies
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Welsby
1
Original post by Massos
Yeah you're right. I did that don't worry lol


Oh good 😂
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will.h
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Anyone do essay 3? I think I screwed up the 25m
Original post by junky27
I did context 1 and that 25 marker on development was ****ing hard.

Essay 2-

Pattern of trade-
Comparative advantage from free trade
Quality of UK goods
Tariifs on UK exports from other countries

Current account deficit-
expenditure switching- devaluation
expenditure reducing- deflating the economy
Conclusion- other policies


I would have picked context 2 had I revised deflation and monetary policy

I just talked rubbish man even on the 9 marker think I'm getting confused between economic growth and development, hardly referred to the extract so it felt like a disaster to me

I talked about competitive advantages, uk as net importers? Lololl and trading blocks like the EU lol must have gone wrong hardly wrote much
For the 9 mark on context 2, I shifted LRAS right instead of SRAS. Will I still get max marks for explaining it well?
Original post by gcsestud
What answers did you include ??


Maths q- 7.23 % something along them lines

Export subsidies- Defined the terms then said how they can be given to firms across the economy to increase quality of exports thus reducing price. The lower cost of production from firm due to subsidies leads to increase AS and lower price exports.

Then did how AD would increase as exports more price competitive leading to further economic growth.

Then mentioned how export subsidies would not be as effective if demand for imports was price inelastic

25 marker-
defined the terms

1st arg- quoted the source on how India were reliant on other countries etc. Did a paragraph on how the government should take control by implementing a tariff. This may make exports more competitive in the domestic economy leading to increase AD.

evaluated- strong- export led multiplier if the marginal propensity to consume is high and thus development may increase economically by a large extent as incomes would rise. Weak- demand for imports may be inelastic and thus strategic and infant industries may not improve resulting in less development. Final judgement- don't use government approach as tariffs can lead to retaliation which may hinder development and used china and isa devaluation war as example of retaliation.

2nd arg- market approaches best- free trade and liberalisation- increase movement of MNCs such as Nike. Provide job opportunities in countries like india- increase employment reduction natural rate of employment and larger development

Diagram- increase supply labour and fall in voluntary unemployment

strong- something from source
weak- keynesiansm argues that the supply of labour may not result in higher employment in these areas if there is a lack of demand and thus keynesian demand side management as a method to improve development is best. Did diagram with fine tuned AD and opt gdp low inflation and max unemployment


conclusion- supply side policies may be most effective and compared args etc.


I missed out a bit but i feel like that is awful haha
guys can comeone please tell me if inflationa and ex rate is okay for the 2nd 15 marekr
what did you uys say for the 2nd 15 marekr? is talking about depreciation in th exchange rate and inflation rate okay?
Original post by callumjmoores
On the 25 marker on monetary policy in UK and Japan I only briefly spoke about a supply side alternative and didn't mention fiscal policy, how much will i get penalised?


You can't really get penalized for not mentioning something that isn't explicitly stated in the question as they don't expect you to write up every single point in the mark scheme. However, the question did ask whether monetary policy was the most effective policy, so it probably would have been useful to compare it to another policy which could include fiscal and supply side policy.
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Original post by amukaty
what did you uys say for the 2nd 15 marekr? is talking about depreciation in th exchange rate and inflation rate okay?


I said increase in exchange rate, higher inflation than other countries and lower quality of products.

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