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**********OFFICIAL OCR ECONOMICS F582 21st MAY 2014 THREAD************ Watch

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    How many marks was the comment on question on savings??
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    (Original post by TheVIllageGeek)
    How many marks was the comment on question on savings??
    6 I think
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    For the essay, I missed out the diagram (A02) but developed many points and evaluated well...how many marks would I lose for not having a diagram?
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    (Original post by tash282)
    you'll definitely get some marks, surplus for maximum welfare is good eval. did you draw a diagram and explain cos thats instant level1/2
    the only diagram i could think to draw was a ppf
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    (Original post by Muneeba x)
    6 I think
    What about the analyse and the other comment on question?
    Im think one of them was 5 mark but Im not too sure...
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    For the last question it asked if having a surplus can be beneficial for an economy, so i included a paragraph about how a surplus can lead to increased government spending on healthcare and education (etc) without having an opportunity cost, so in the long run the labour force becomes better educated, healthier and therefore more productive.
    Valid point?
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    (Original post by TheVIllageGeek)
    What about the analyse and the other comment on question?
    Im think one of them was 5 mark but Im not too sure...
    analyse question was 4 marks, and the other comment on was six marks
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    Guys for the calculation I got $68.04bn, something around there, but I screwed up one question so badly, someone tell me if I'm going to get 0/6 for it, I wrote for about rapid investment and increase in standard of living for why Turkeys future looks promising or whatever the question was, but people talked about women in labour force which is right, i did talk about economic growth and increasing long run economic growth
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    (Original post by Muneeba x)
    analyse question was 4 marks, and the other comment on was six marks
    :O- dayumm, are you sure the analyse question was just 4 marks?? I thought it was 6 marks and ended up treating it as a comment on lmao.

    Thanks anyway!
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    (Original post by thunguyen168)
    What did you predict for global paper?

    Posted from TSR Mobile
    First set of questions (4,6,10) will be on the UK economy and how it has recovered from 2007/2008. The role of IMF a possible 4 marker. 6/10 marker evaluation of the government's fiscal/monetary decision making. Second set will be on exchange rates and the Latvian/Icelandic economy. Discussion of floating and fixed exchange rate, perhaps. Which has had the stronger recovery? I am almost certain last 20 marker will be on development and sustainability in SSA. What do you guys think? Regarding the f582 exam I think coming on here can sometimes make any concerns worse and you can convince yourself you've done really badly. Is interesting to discuss answers though.
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    (Original post by Knowing)
    I can't be the only one who thought the micro was harder than macro? I thought the macro was alright, aside from the multiplier effect and the 3 differences question.
    I thought this exam was easier than the other one to be brutally honest

    Felt like I managed myself pretty well
    Posted from TSR Mobile
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    (Original post by justfly)
    Guys for the calculation I got $68.04bn, something around there, but I screwed up one question so badly, someone tell me if I'm going to get 0/6 for it, I wrote for about rapid investment and increase in standard of living for why Turkeys future looks promising or whatever the question was, but people talked about women in labour force which is right, i did talk about economic growth and increasing long run economic growth
    increase in population and non-working women were 2 out of the 3 reasons for potential economic growth as stated in the text. So there couldve been other reasons, you should get some credit for it.
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    How many marks could i have missed if i haven't mention current transfer as a part of current account ?
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    Guys, are these the right marks? It adds to 59 mark so I have either missed out a question or the marks are wrong:

    1 Components of AD (3)
    2 How is the equilibrium determined in a macro-economy (3)
    2b Monetary policy+ equilibrium (4)
    3 Inflation 3 differences (3)
    3b Comment on- savings (6)
    4 comment on- low inflation and unemployment (6)
    5a Why the government would want economic growth. (4)
    5b analyse- econ growth in Turkey (4)
    7A Influences of consumption (3)
    7B Multiplier- difference between SK and Turkey (2)
    8A Deficit calculation (3)
    8B essay (18)
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    (Original post by VinayPatel)
    For the essay, I missed out the diagram (A02) but developed many points and evaluated well...how many marks would I lose for not having a diagram?
    Not sure about f582, but for f581 not having a diagram is costly, so it might be the same situation. Thing is even if you have evaluated well, you may not get the marks for it if you haven't hit the levels beforehand. My f581 last year, essay was great with too evaluation, however I didn't use a diagram in my analysis so mark got capped to 8/18. Not saying it's the same, but it's very likely to be.
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    (Original post by TheVIllageGeek)
    Guys, are these the right marks? It adds to 59 mark so I have either missed out a question or the marks are wrong:

    1 Components of AD (3)
    2 How is the equilibrium determined in a macro-economy (3)
    2b Monetary policy+ equilibrium (4)
    3 Inflation 3 differences (3)
    3b Comment on- savings (6)
    4 comment on- low inflation and unemployment (6)
    5a Why the government would want economic growth. (4)
    5b analyse- econ growth in Turkey (4)
    7A Influences of consumption (3)
    7B Multiplier- difference between SK and Turkey (2)
    8A Deficit calculation (3)
    8B essay (18)
    I think question 2 was a 4 marker
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    (Original post by no-nameskindaguy)
    Did anyone talk about the policies which would increase exports, and reduce imports, such as manipulation of exchange rate through interest rates?

    I evaluated policies alot, and didn't delve much into the affect on AD.

    Also just mentioned how a surplus wouldn't be desirable either as a macro economic objective was a balance of payments. Mentioned living qualities slightly but such a messy structure and points flying everywhere.

    Overall as a general consensus a lot of people found it difficult and the 18 marker was very vague.

    All in all, to everyone feeling deflated, don't worry I'm sure you've done well. Examiners will recognise it was tough and hopefully lower grade boundaries.

    All you can do is your best ay
    I mentioned exchange rates in a few of my points, even for the against points. I thought it was quite easy and logical to include exchange rates in.
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    (Original post by tash282)
    Yeah same have a list of predicted questions. I love transport, it really interesting. My favourite part of micro is the multiple choice essays
    Hey am I alright to have a copy of that list of predicted questions? I'm doing f585 too
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    (Original post by VinayPatel)
    For the essay, I missed out the diagram (A02) but developed many points and evaluated well...how many marks would I lose for not having a diagram?
    (Original post by Fas)
    Not sure about f582, but for f581 not having a diagram is costly, so it might be the same situation. Thing is even if you have evaluated well, you may not get the marks for it if you haven't hit the levels beforehand. My f581 last year, essay was great with too evaluation, however I didn't use a diagram in my analysis so mark got capped to 8/18. Not saying it's the same, but it's very likely to be.
    you don't have to draw a diagram you can still get all the marks, but it is harder to do so, like drawing a diagram makes you do a reasonable amount of analysis
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    What did everyone put on the second question that said to say 2 monetary policy measures that cause macroeconomic equilibrium? (Was something like that)
 
 
 
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