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    Right, I dont know whether any of you guys are in the same situation but I am struggling to revise for this exam. I look at the tutor2u and apt guides but end up just reading them - like what is the best way to revise for this exam? What the effective way of learning the vital content ad then applying it to the exam questions?
    Any help would be appreciated.
    Lucy x
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    All This advice may seen abit obvious but here's what I done when I did my paper :

    1) understand all content fully even the concepts that do not directly relate to the case study , the latter ones you're probably be asked in the form of definitions and small 4 marker questions .

    2) concentrate on the topics which are quite obvious in the case study.. In this one single currency markets is one. What I mean by concentrate is probably go over till you understand it in and out , and attempt to do as many questions. Then Apply it to the case study .. Read over bbc articles, YouTube videos

    3) as essays are a big chunk of the paper, know how to structure essays. Remember two sided analysis, backed with a conclusion. All points made require analysis, sometimes with graphs. And there is a cap on marks if your answer is one sided or no conclusion.


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    mind if i ask what grade you got?

    (Original post by bijesh12)
    All This advice may seen abit obvious but here's what I done when I did my paper :

    1) understand all content fully even the concepts that do not directly relate to the case study , the latter ones you're probably be asked in the form of definitions and small 4 marker questions .

    2) concentrate on the topics which are quite obvious in the case study.. In this one single currency markets is one. What I mean by concentrate is probably go over till you understand it in and out , and attempt to do as many questions. Then Apply it to the case study .. Read over bbc articles, YouTube videos

    3) as essays are a big chunk of the paper, know how to structure essays. Remember two sided analysis, backed with a conclusion. All points made require analysis, sometimes with graphs. And there is a cap on marks if your answer is one sided or no conclusion.


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    (Original post by lucybrown92)
    mind if i ask what grade you got?
    A overall in economics 92 in f585.


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    (Original post by bijesh12)
    A overall in economics 92 in f585.


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    Wow! Wish I can get something like that but probably won't haha!
    Just cant get the bloody stuff to stick in my head :/
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    (Original post by lucybrown92)
    Wow! Wish I can get something like that but probably won't haha!
    Just cant get the bloody stuff to stick in my head :/
    I would say instead of memorising actually try and understand these concepts, some of them are quite common sense. Then you may make some logical points expanding on your arguements, thats if you actually understand it. Not just memorise !!!!!
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    (Original post by natd_x)
    What are everybody's predictions to questions they think are most likely to be on??
    I have a feeling the benefits of a fixed echange rate system, something to do with FDI, the exchange rate of the Lat (why else would they throw in a mention of the Lat?), and then the 20 marker on sustainable development - possibly how it links to economic growth or the EU's SDS programme
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    Does anyone have the ocr jan 2013 question paper and mark scheme? Thank you!


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    It's not hard to predict what topics they are going to ask about.
    For the first two extracts (breifly):
    Stages of integration and Benefits/costs of a monetary union
    Exchange rates - fixed and floating costs and benefits. ERM 2
    What happened to Latvia

    I think there's going to be a question relating to the 3rd extract like 'what other things led to Estonia's success'
    And the 20 mark is going to be something like: To what extent has Estonia reached its sustainable development goals (+policies they can implement)
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    (Original post by zubhav)
    It's not hard to predict what topics they are going to ask about.
    For the first two extracts (breifly):
    Stages of integration and Benefits/costs of a monetary union
    Exchange rates - fixed and floating costs and benefits. ERM 2
    What happened to Latvia

    I think there's going to be a question relating to the 3rd extract like 'what other things led to Estonia's success'
    And the 20 mark is going to be something like: To what extent has Estonia reached its sustainable development goals (+policies they can implement)
    from reading the case study they clearly need to fix income inequality and environmental issues, but the only policy's I can think of is environmental tax and progressive taxation instead of their flat rate tax, but they both have strong negatives of mainly the so called brain drain :/ (This would be good ao4 I guess but is there any other policies which would do a better job?)
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    Is the Maastricht Convergence criteria same as the EU stability and Growth pact?

    Budget deficits max of 3% GDP and govt debt max of 60% GDP?
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    (Original post by mandem2k11)
    Is the Maastricht Convergence criteria same as the EU stability and Growth pact?

    Budget deficits max of 3% GDP and govt debt max of 60% GDP?
    Also achieving inflation no more than 1.5%, interest rates no more than 2% and exchange rate stability with normal fluctuation in ERMII in 2 previous years without severe tensions.


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    (Original post by mandem2k11)
    Is the Maastricht Convergence criteria same as the EU stability and Growth pact?

    Budget deficits max of 3% GDP and govt debt max of 60% GDP?
    They aren't they same. But, stability and growth pact is included in the Maastricht Convergence Critera. Stability and growth pact is for EU and Maastricht convergence Criteria is for entry into Eurozone as an EU member
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    (Original post by 11nrai23)
    Also achieving inflation no more than 1.5%, interest rates no more than 2% and exchange rate stability with normal fluctuation in ERMII in 2 previous years without severe tensions.


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    Thatnks, also what is ERMII?
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    (Original post by physicshelp123)
    from reading the case study they clearly need to fix income inequality and environmental issues, but the only policy's I can think of is environmental tax and progressive taxation instead of their flat rate tax, but they both have strong negatives of mainly the so called brain drain :/ (This would be good ao4 I guess but is there any other policies which would do a better job?)
    For fixing income inequality, a regional minimum wage could be implemented so firms move into those rural areas for cheaper labour. And yes, for the environmental issues, tradable permits and all!
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    Could anyone shed some clarity on the process of joining the Eurozone?

    My understanding is that once an economy has passed the Maastricht Convergence Criteria, it can participate in the EU, and then when a country has become eligible to participate in the ERMII it's entered automatically, whilst in the ERMII the government still has partial control over it's monetary policy decision making (with consultation with the ECB?) and then following two years of successful membership of the ERMII it can adopt the Euro as its legal tender?

    Thanks a lot for taking the time to read through that..
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    (Original post by Hunarench95)
    Could anyone shed some clarity on the process of joining the Eurozone?

    My understanding is that once an economy has passed the Maastricht Convergence Criteria, it can participate in the EU, and then when a country has become eligible to participate in the ERMII it's entered automatically, whilst in the ERMII the government still has partial control over it's monetary policy decision making (with consultation with the ECB?) and then following two years of successful membership of the ERMII it can adopt the Euro as its legal tender?

    Thanks a lot for taking the time to read through that..
    From what I understand membership of ERM II is optional. When countries opt in after meeting the convergence criteria, they have to fix their exchange rate against the euro for two years, and then they are eligible to join the Euro.

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    (Original post by JOR2010)
    From what I understand membership of ERM II is optional. When countries opt in after meeting the convergence criteria, they have to fix their exchange rate against the euro for two years, and then they are eligible to join the Euro.

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    I thought the ERMII is meant to be compulsory but the UK and Denmark managed to wiggle their way out of it?

    Apart from that bit did I get the series of events right? ie meeting the Maastricht convergence criteria allows a country to become an EU member?


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    (Original post by Hunarench95)
    Could anyone shed some clarity on the process of joining the Eurozone?

    My understanding is that once an economy has passed the Maastricht Convergence Criteria, it can participate in the EU, and then when a country has become eligible to participate in the ERMII it's entered automatically, whilst in the ERMII the government still has partial control over it's monetary policy decision making (with consultation with the ECB?) and then following two years of successful membership of the ERMII it can adopt the Euro as its legal tender?

    Thanks a lot for taking the time to read through that..
    The Maastricht criteria is for admission for the eurozone, the ERMII is apart of the criteria


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    (Original post by 11nrai23)
    The Maastricht criteria is for admission for the eurozone, the ERMII is apart of the criteria


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    I've just been on the EU's website Name:  ImageUploadedByStudent Room1369514697.280889.jpg
Views: 154
Size:  171.1 KB and it says that membership of the EU is dependant on adhering to the aims economic and monetary union.

    Name:  ImageUploadedByStudent Room1369514817.759865.jpg
Views: 132
Size:  196.4 KB

    And then the economic and monetary union includes the Maastricht treaty..?


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