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Edexcel Economics Unit 4 Global Economy Discussion Thread (10.June.2014) watch

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    (Original post by Ff96)
    Ah don't worry, unit 4 is 60% of the a2 (both a bad and good thing). Use every figure and extract they've given you, everything they've given they chose specifically as it's relevant. Easy marks to pick up if you can link it to the question. Use figures in the graphs to back up your points and strengthen your answer. And I can't stress how important evaluation is D:
    Thankyou! I seem to be okay with evaluation so hopefully there will be some nice essay questions.


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    (Original post by Ff96)
    For the 20 and 30 marker
    20 mark - 3 points, 2/3 eval. I tend to evaluate each point as I go along. 2 is required for maximum marks
    30 marker - similar. 4 points, 3/4 eval. 3 is required for max marks. Stick in a definition or explain the concept in the question if you can e.g. Poverty, globalisation etc

    And when they mention "a country of your choice" always do mention one or you'll be severely capped!! If like me, you've stupidly done no research or case studies, just think smartly If you're talking about a developing country, apply relevant points such as primary product dependency, corruption etc. Statistics are not required, as long as you know what you're talking about it should be fine
    This is so me, it will say inequalitity or constraints of growth and i'm like hmmmm....what country shall I pickkkk LOL
    I don't like any of the development in fact I only like the unit 2 policy stuff ( growth, competitiveness, inequality, deficits)

    People are saying forward guidance but I only know like 2 marks worth of that, is it even in the spec?
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    (Original post by tigerz)
    This is so me, it will say inequalitity or constraints of growth and i'm like hmmmm....what country shall I pickkkk LOL
    I don't like any of the development in fact I only like the unit 2 policy stuff ( growth, competitiveness, inequality, deficits)

    People are saying forward guidance but I only know like 2 marks worth of that, is it even in the spec?
    Story of my life! Omg, what is that??? 😭
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    (Original post by Ff96)
    Story of my life! Omg, what is that??? 😭
    Never heard of it in my life lol


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    (Original post by Ff96)
    Story of my life! Omg, what is that???
    That new guy working in the MPC said that they wont even consider increasing interest rates until unemployment falls bellow 0.7%. Unemployment was very close to this like 6 months later when the policy was meant to give them 2-3 years time and so it kinda backfired and they changed their 'prediction'
    Them trying to make predictions is like us trying to predict Tuesday's exams LOL

    Also, can you evaluate your evaluation?Would this be analysis or evaluation? :s
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    (Original post by tigerz)
    That new guy working in the MPC said that they wont even consider increasing interest rates until unemployment falls bellow 0.7%. Unemployment was very close to this like 6 months later when the policy was meant to give them 2-3 years time and so it kinda backfired and they changed their 'prediction'
    Them trying to make predictions is like us trying to predict Tuesday's exams LOL

    Also, can you evaluate your evaluation?Would this be analysis or evaluation? :s
    Haha! And yeah, I do that all the time for a sneaky mark or so. Guess it counts as a weird evaluation. I know you get rewarded but I'm not entirely sure under what category.
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    (Original post by Ff96)
    Haha! And yeah, I do that all the time for a sneaky mark or so. Guess it counts as a weird evaluation. I know you get rewarded but I'm not entirely sure under what category.
    Would you be able to get all the analysis marks by just explaining your point and just saying it could lead to this and this ect


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    (Original post by Farringtonn)
    Would you be able to get all the analysis marks by just explaining your point and just saying it could lead to this and this ect


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    That's pretty much what they want you to do. Think about those damn PEEE paragraphs in gcse English. Make your point, link it to an economic concept. Try and back it using the extract/figures. Explain it. Say what happens, what it leads to, the effects, etc.
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    (Original post by Ff96)
    Haha! And yeah, I do that all the time for a sneaky mark or so. Guess it counts as a weird evaluation. I know you get rewarded but I'm not entirely sure under what category.
    Right heres my essay for a 20 marker then:

    1 mark def
    3 paragraphs of KAA (4marks)
    2 paragraphs of evaluation (2/3 marks each)
    Evaluating the evaluation (2 marks)



    ZOMFG IT IS PEE. LIFE SUDDENLY MAKES SENSE.
    You've just saved my life-literally.
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    (Original post by tigerz)
    Right heres my essay for a 20 marker then:

    1 mark def
    3 paragraphs of KAA (4marks)
    2 paragraphs of evaluation (2/3 marks each)
    Evaluating the evaluation (2 marks)



    ZOMFG IT IS PEE. LIFE SUDDENLY MAKES SENSE.
    You've just saved my life-literally.
    Sounds brill, what I'd do exactly and same for the 30 marker, just add an extra point on each side. Try and use the data given too if you can.
    Good to know
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    (Original post by Ff96)
    Sounds brill, what I'd do exactly and same for the 30 marker, just add an extra point on each side. Try and use the data given too if you can.
    Good to know
    Yup I'm starting the past papers now, there's only 4? That's a relief :phew:
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    (Original post by tigerz)
    Yup I'm starting the past papers now, there's only 4? That's a relief :phew:
    I'm doing them right now too, do every single question even though in the real thing you only pick one. It's long but really helps. Growth and development needs to stop coming up so significantly ugh. Good luck!!!
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    (Original post by Ff96)
    I'm doing them right now too, do every single question even though in the real thing you only pick one. It's long but really helps. Growth and development needs to stop coming up so significantly ugh. Good luck!!!

    Yup, each paper is actually 5 hours long LOOOL >.<
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    (Original post by Ff96)
    I'm doing them right now too, do every single question even though in the real thing you only pick one. It's long but really helps. Growth and development needs to stop coming up so significantly ugh. Good luck!!!
    What's wrong with growth and development?
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    (Original post by Ff96)
    I'm doing them right now too, do every single question even though in the real thing you only pick one. It's long but really helps. Growth and development needs to stop coming up so significantly ugh. Good luck!!!
    I'm hoping growth and development comes up it's the easiest part of Unit 4
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    Oh I don't like growth and development purely because I've done no revision of case studies lol! Aside from that it's okay. It's my own stupidity
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    (Original post by Ehawks)
    Thank you very much! From this, could a possible evaluation point be that quantitive easing will be more inflationary from a Keynesian perspective? (AD increase = demand-pull inflation)

    Could also bring in something about Gordon Brown selling off our gold then!
    You could talk about QE being inflationary in the sense that you are increasing supply of money and according to monetarist economists this is inflationary as it decreases the value of that money and means more of it is required to purchase goods. The US exports a lot of inflation this way since most countries hold US dollars in reserve, the action of central banks purchasing government bonds and increasing deposits of commercial banks i.e increasing money supply therefore means all these dollars become less valuable and the value of those assets denominated in dollar becomes less. Always a good idea to start by saying monetarist a argue this Keynesian argue this etc
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    (Original post by Ff96)
    Competitiveness is the best essay ever! It's so synoptic with unit 2. You can talk about value of currency, education and training, labour costs, regulation, etc.. And argue either way. Then evaluate by speaking about opportunity cost, time lag, short term/long term, how regulation is needed, basically general knowledge

    Ooh FDI! I wouldn't know what to say about that if there was a whole essay on that
    If you have the smith textbook there's a brilliant few pages on FDI in the final chapter. tells you all you need to know really. There was also a 15 marker on it last year so you could look at the mark scheme for that
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    Guys can someone explain this whole inequality and capitalism thing?
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    I'm looking to answer the balance of payments/exchange rates/competitiveness questions.
    I've done country profile on UK, Germany, Greece and China, do you think these countries will be enough? I'm a bit worried I won't be able to compare them or relate them to the question. Is there any other countries its worth me having some knowledge on?
 
 
 
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