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

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finance and behavioral economics chapters is horrendous for me, for paper 1 i think i got an A, paper 2 HOPEFULLY A*, and for paper 3 idk the layout, structure, techniques, literally have to recap micro and macro all over the weekend :frown:

I want to think I got an A but my 9 and 15 markers were both weak in both papers so it all depends on them 0_0 probably flopped :/

Yeah I hate financial markets im just watching econdalplus haha I would recap it all but I have maths the next day so priority, don't feel nervous. Everyone is not used to paper 3 so you aren't the only one :smile:

Reply 981

username2052983

Original post by physicsamor

Do we not get a choice of what context we answer in paper 3? :eek:

Reply 982

Nuggetsarelife

Original post by physicsamor

yeah worst thing is that we haven't had a teacher all year for macro so we self taught, i get the idea of the finance chapter, when it comes to regulation and market failure, it flies over my head

Reply 983

physicsamor

Original post by BintM

Do we not get a choice of what context we answer in paper 3? :eek:

unfortunately there's only one context but you do get given sufficient extracts which give you clues on what to write :smile:

Reply 984

username2052983

Original post by physicsamor

unfortunately there's only one context but you do get given sufficient extracts which give you clues on what to write :smile:

I feel sad now, I thought i'd be fine as well :facepalm:

Need to do some serious revision now :redface:

Reply 985

physicsamor

Original post by Nuggetsarelife

yeah worst thing is that we haven't had a teacher all year for macro so we self taught, i get the idea of the finance chapter, when it comes to regulation and market failure, it flies over my head

oh wow ×-× I mean even with my teacher teaching me I still don't get it haha :tongue:

Reply 986

GTHargs

Original post by Gemmamcconville

This really clears things up so thanks! just one thing, I am unsure of how insurance premiums can link into financial markets? I though adverse selection was a problem with private health etc. So what is it to do with banks and the financial market?

Just because it isn't stocks and shares doesn't mean its not financial markets. Insurance schemes are financial products. If this still doesn't sit right with you then you can think of insurance given out to financial institutions to protect them from losses as the same thing. This happened in the financial crisis where banks bought CDS (credit default swaps) to limit their losses, but premiums rose as a result of asymmetric information.

Also banks have insurance departments, insurance is just a different type of financial markets.

Reply 987

physicsamor

Original post by BintM

I feel sad now, I thought i'd be fine as well :facepalm:

Need to do some serious revision now :redface:

You will be fine!! Last exam final push! :smile:

Reply 988

physicsamor

Okay I think the markscheme for this question is wrong or I'm just tired. The question is calculating xed. The simplified version is that demand for good x increases from 200 to 3300 when prices for good y increase from 1.5% to 9%

The answer is 0.30

But I can't get that
It's asked to calculate xed for good x

I am using new demand-old demand /old demand x 100 for the % change in demand is that wrong?

Maybe I'm turning crazy hahA

Reply 989

Geog18

I messed up my macro exam so bad :frown:

Legit so upset and feel sick thinking about it tbh, I need an A in economics as well to get into uni.

Reply 990

physicsamor

Original post by rebeccams

I messed up my macro exam so bad :frown:

Legit so upset and feel sick thinking about it tbh, I need an A in economics as well to get into uni.

I relate i honestiy can't afford to get anything but an A because I will berejected but I just honestly don't think I will. Plus I don't even think my answers were legible :frown:

but you have to try and think positive there's still one more paper!

Reply 991

tamcat

I really don't think aqa would be so abrupt in introducing financial markets
you would think they would ease in into the syllabus:
e.g.
first introduce it into the section 2 of the macro paper so students have a choice of picking it
then maybe introduce it into one of the context questions so students are more narrowed in choice
then perhaps introduce it into paper three

Reply 992

tamcat

I really don't think aqa would be so abrupt in introducing financial markets you would think they would ease in into the syllabus: e.g. first introduce it into the section 2 of the macro paper so students have a choice of picking it then maybe introduce it into one of the context questions so students are more narrowed in choice then perhaps introduce it into paper three

Reply 993

Gemmamcconville

Can some help me please. So if financial markets came up, I understand micro for example market failures and gov failures, but when speaking about macro would it be right to talk about credit crunch and systemic risk as in if we have a meltdown of financial system it will cause potential reccesion, fall in AD, fall in real GDP, Unemployment and potentially deflation? is there any other macro links to financial markets, not sure how to use monetary policy in the right context.

Reply 994

FTSE420

Original post by Gemmamcconville

For monetary policy you could discuss how QE has enabled the strengthening of bank balance sheets

Reply 995

FTSE420

Original post by CricketMaster123

Didnt Aqa techincally give us a question on Financial Markets as Monetary Policy is a apart of that topic?

Original post by GTHargs

That was focussed on monetary policy not explicitly financial markets

You could have discussed that post 2008, banks have strict liquidity and capital ratios so low interest rates aren't so useful because the banks aren't able and not so willing to lend in high quantities.

Reply 996

FTSE420

Original post by GTHargs

Thats not setting economics aside, demographic factors are one of the governing dynamics of economics.

Original post by archie341

Ye I mean we don't explicitly cover population etc on the econ syllabus but was worth a mention so why not

Mentioning thr ageing population was one of the best things you could have said in my opinion. The ageing population in Japan is one of the key reasons for their prolonged deflation. Monetary policy is likely to be ineffective in a place like Japan since such reflationary policy is unlikely to work due to the MPC of elderly people being far lower than younger people. Also, the fact that it wasn't mentioned in the extract shows good knowledge of Japan's economy - it's a superb evaluative point. I was surprised at how so many people discarded this factor in determining the effectiveness of interest rates because it's a huge factor, especially in Japan and increasingly in the developed world.

Reply 997

cathartic

I don't know how to revise for synoptic, am I supposed to revise all of economics micro and macro AS and A2 ? I don't know if i have enough time to do that 😭
My teacher believes the following topics are likely to come up:

- labour markets: - productivity/poverty/inequality
Micro: wage rates labour market failure
Macro: SRAS&LRAS position and costs, unemployment and flexibility

- financial markets/
Micro - analysis of different markets (bonds types of banks and objectives) Macro - monetary policy, operation of the central bank and financial regulation

- behavioural economics
Micro - decision making, factors influencing D&S
macro - nudges for fiscal policy, supply side etc

- technological issues & competition policy - factors influencing market structure/ costs/ external economies of scale
Factors affecting LRAS

- externalities :
Micro - types of market failure
Macro - disadvantages of growth and international trade

- developing economics: - micro - commodity market inequality health and education , macro: policies and trade

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