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

Scroll to see replies

are we limited to 16 marks if we dont include 3 points/policies per 25 mark essay? please someone?

Definitely not on principle- I'd say it's better to fully develop 2 than be brief on 3. For example, the deflation context only lended itself to monetary policy (that was the question), with the option of bringing in fiscal as a comparison. Supply side deflation is a good thing and so doesn't warrant discussion in a question about tackling deflation.

Reply 841

HamzaKhan123

Original post by CameroSJ

For the 9 mark on context 2, I shifted LRAS right instead of SRAS. Will I still get max marks for explaining it well?

An increase in productivity leads to LRAS shifting in the long run.. That isn't wrong

Reply 842

HamzaKhan123

Original post by Madmanecon

I shifted SRAS as it was asking about deflation

The LRAS diagram shows how it exerts deflationary pressures on the economy when it shifts right. It it still deflation

Reply 843

CJEV18

Original post by Sam10711

Defined market based strategies

Talked about trade liberalisation and globalisation and why its good and bad

Talked about privatisation being good for efficiency but might exploit consumers.

Talked about maybe protectionism such as tariffs is useful for protecting domestic firms which may help growth more.

How about you?
How good do you think my points are?

So i talked about trade creation and how opening up markets (trade liberalisation) can lead to increased domestic production as india can exploit its comparative advantage in computer services. leading to more jobs etc...

I talked about privatisation leading to efficiency and i shifted the lras curve to the right. And said how economic growth leads to higher living standards. I evaluated that using the extract which mentioned issues regarding infrastructure and 'doing business'.

I the did a paragraph on protectionism with tariff diagram etc and said it should be used initially until indian companies can gain economies of scale then removed as other wise mnc's will exploit workers and profits will go overseas(also an issue with tax!)

I concluded by saying that once infrastructure is successfully developed protectionism should be lifted and markets opened up, therefore indian people are better off as more money stays in the economy.

I waffled so much and i dont think much of it was relevant tbh....

Reply 844

archie341

I suggested that while in principle the benign deflation we see from the supply side is good, Japan's inflation rate is already so slow it almost cannot afford to even engage in supply side deflation. I recommended Supply Side polices on the premise that the data showed economic growth was low and injecting some growth through SSPs would be beneficial in the long run just to restart their economy, as with economic growth will eventually come inflation. I think as long as you argued your case for a particular policy it'll be fine.

Original post by AzaSad

Reply 845

Anthony27

Original post by BintM

Current account deficit pls come up 🙁

Good luck guys :smile:

I could not have been happier to see that 25 marker

Reply 846

archie341

I also set economics aside and talked about the aging population in Japan and even a declining population meaning there are fewer people in active employment. So i suggested some policies to improve birth rate or supply side policy tax cuts to get people into jobs and restimulate the economy. When it comes down to it they wanted your best evaluation of monetary policy so if you sorted that you can't really go wrong.

Reply 847

tamcat

someone pls reply - I spoke about Econ growth instead of Econ development do you think I can atleast get 15 marks if my points are well explained?

Reply 848

archie341

Original post by tamcat

someone pls reply - I spoke about Econ growth instead of Econ development do you think I can atleast get 15 marks if my points are well explained?

Depends how the examiner is feeling tbh. Development is more quality of life kind of stuff where growth is quite economy focussed. I guess they do go hand in hand at times so u might be able to scrape 15/16.

Reply 849

economics1998

Hi would someone mind giving their opinion on how many marks you would think i would get for the context two essay 25 marker on tackling deflation would really help.

I started off with a few correct definitions and then spoke about the merits of expansionary monetary policy with good analysis using a diagram including interest rates,QE,etc and then evaluated saying Japans economy however has not improved using such measures using the case study figures.Then i said in other developed economies ie.UK exp monetary policy might be howver good for correcting deflation and then evaluated,

i Know it'd be hard to guess a mark but anyone reckon they could guess what sorta mark i would get considering i wrote 2 pages but didnt mention fiscal policy or conclude. cheers

Reply 850

FTSE420

Original post by archie341

This.

Reply 851

archie341

Original post by Reaver Daniels

Does anyone remember the 'Exact' wording of the 15 mark for the current account question on patterns of trade?

I spoke about the pattern of trade changing when we leave Europe due to a possible removal of the common external tariff, which would mean more trade with the rest of the world. Did loads of decent analysis on that and then did a smaller point about sunset industries e.g. Steel going under to the Chinese competition.

Posted from TSR Mobile

This should be fine. I talked about growing competition in china, the UK deindustrialization as it becomes more developed and switches to a services based sector which is in surplus but deficit compared with the trade in goods balance. Talked about political and Brexit uncertainty meaning companies may be less willing to trade with the UK if we lose access to the EU single market and the status of being a 'gateway to Europe'. Also talked about how the UK is quite inefficient compared to places like Germany so this both reduces amounts we can supply and increases the price.

Reply 852

archie341

Original post by economics1998

No conclusion means no band 5 really. If the 2 pages were really solid anywhere between 16-18 given that u evaluated which they like

Reply 853

archie341

Think it was 'have' changed or at least it was implied as they gave us historical data and then effectively asked us to explain the change. Don't worry about it tho, imo the same points apply to both possible wordings and using current examples gets you marks anyway!

Original post by Reaver Daniels

But did the question specify about why patterns of trade 'have' changed or was it 'possible reasons for changes in the pattern of trade'?

Posted from TSR Mobile

Reply 854

junky27

Original post by tamcat

I completely messed up realised I spoke about economic growth not development - how many marks do you think I will lose???Possible for me to get Atleast 15 marks??

Hey you will be fine. Look at my points below, I did not mention development massively however my chains of reasoning always led to how that can increase development so if you have done that you should be fine.

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 plus LRAS shifting right

Reply 855

amukaty

can you talk about inflation and exchange rate in the 15 marker on patterns of trade

Reply 856

_Jess_123

Original post by junky27

Comparative advantage from free trade meaning you may export more than another good such as UK with a comp advantage in financial services.

Protectionism in the form of tariffs from other countries may affect the pattern of trade

and the quality and price of goods

Imisunderstood the q and wrote something completely different!

I wrote about the UK more exporting services as opposed to goods - harder to improve the quality/ quantity of services - longer time

U.K. Has relatively good wage rates - 11% increase of minimum wage to £7.20 - so there may be a trade difference compared to countries where wage rates are lower - lower costs of production

I know I misunderstood the q and it was really bad - do u think i could still at least get 8/15 marks