OCR A2 Economics - F585 Global Economy - Case Study Thread

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?

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 :/

What are everybody's predictions to questions they think are most likely to be on??

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)

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?

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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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?)

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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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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