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Current Year 13 Thread (2013/14) - Mark I Watch

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    (Original post by Robbie242)
    Economics markschemes are so ridiculous :sigh:
    Why?
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    (Original post by Robbie242)
    Economics markschemes are so ridiculous :sigh:
    I've actually just read your post about it! (sound like a stalker haha, but I always read random threads when they're on the latest section ) It seems pathetic that they didn't award you marks for what you said :confused:
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    (Original post by Endless Blue)
    Why?
    Backstory:

    The question states:
    ''Comment on whether an increase in the rate of interest would reduce investment''
    The markscheme states 6 points, if you do not hit any of these you do not get the analytical underpinning in order to proceed to the evaluation marks.

    What I find ridiculous here is that I did my analytical underpinning but apparently it wasn't what they wanted. This is the comparison, I got 0/6 for this question

    What I said:
    An increase in the rate of interest increases the cost of borrowing (0 marks)
    And therefore also increases the reward for saving, with a higher cost of borrowing, consumers are more likely to save instead of spend, this reduces aggregate demand, the fall in consumer expenditure leads to a fall in investments as there is no consumer demand to ensure a safe return on investments. A few things to consider is that it depends on the original rate of interest. It depends on the size of the increase in interest rates. It can be offset by another factor e.g. supply side policies, leading to greater investment. Consumers and producer may be optimistic about the future, and so consumer expenditure and investment may not fall. A lower inflation rate could increase exports which could lead to increased investment abroad and at the home country.

    What the markscheme says (I'll link bold parts in my paragraph to marks I should have got):
    An increase in the rate of interest will increase the cost of
    borrowing to firms. (1) - Because I didn't say to firms I lose this mark???
    Consumer expenditure may fall with a higher interest rate
    which may reduce firms’ profits. (1) - Ok I basically said it reduces the firms incentive to invest, rather than profits wouldn't this be suitable?
    Depends on the initial rate of interest. (1) - Original = initial therefore wtf OCR?
    Depends on the size of the increase. (1)
    Other factors may be favourable to investment, eg low
    corporation tax. (1)

    Now I'm not expecting you to understand all of that but put 2 and 2 together surely I should've hit some of those marks...
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    (Original post by Lucy96)
    I've actually just read your post about it! (sound like a stalker haha, but I always read random threads when they're on the latest section ) It seems pathetic that they didn't award you marks for what you said :confused:
    Haha don't worry . I know... it seems totally unfair considering that the question can go either way, by mentioning to firms surely I am not acknowledging the fact that it also increases the cost of borrowing for consumers which in turn influences the level of investment...

    I hope I have a nicer examiner, OCR should be ashamed, they are the kind of people that make me hate exams, there is not freedom bar the stupid 6 points they wrote on the markscheme!

    I only need 1 more mark for an A
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    (Original post by Robbie242)
    Backstory:

    The question states:
    ''Comment on whether an increase in the rate of interest would reduce investment''
    The markscheme states 6 points, if you do not hit any of these you do not get the analytical underpinning in order to proceed to the evaluation marks.

    What I find ridiculous here is that I did my analytical underpinning but apparently it wasn't what they wanted. This is the comparison, I got 0/6 for this question

    What I said:
    An increase in the rate of interest increases the cost of borrowing (0 marks)
    And therefore also increases the reward for saving, with a higher cost of borrowing, consumers are more likely to save instead of spend, this reduces aggregate demand, the fall in consumer expenditure leads to a fall in investments as there is no consumer demand to ensure a safe return on investments. A few things to consider is that it depends on the original rate of interest. It depends on the size of the increase in interest rates. It can be offset by another factor e.g. supply side policies, leading to greater investment. Consumers and producer may be optimistic about the future, and so consumer expenditure and investment may not fall. A lower inflation rate could increase exports which could lead to increased investment abroad and at the home country.

    What the markscheme says (I'll link bold parts in my paragraph to marks I should have got):
    An increase in the rate of interest will increase the cost of
    borrowing to firms. (1) - Because I didn't say to firms I lose this mark???
    Consumer expenditure may fall with a higher interest rate
    which may reduce firms’ profits. (1) - Ok I basically said it reduces the firms incentive to invest, rather than profits wouldn't this be suitable?
    Depends on the initial rate of interest. (1) - Original = initial therefore wtf OCR?
    Depends on the size of the increase. (1)
    Other factors may be favourable to investment, eg low
    corporation tax. (1)

    Now I'm not expecting you to understand all of that but put 2 and 2 together surely I should've hit some of those marks...
    Wow, that's really mean.
    I think they shouldn't be that picky about you not stating 'for firms' as cost of borrowing would be higher for EVERYONE.
    You should have been awarded at least 3 marks, I think. It isn't exacltly what in the markscheme but it should be implied I believe.
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    So i just found out im predicted A*AB.... How strange for the A*, teacher much really like me o.O

    Gotta try convince the teacher to bump me up from a B to an A !
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    (Original post by Robbie242)
    Haha don't worry . I know... it seems totally unfair considering that the question can go either way, by mentioning to firms surely I am not acknowledging the fact that it also increases the cost of borrowing for consumers which in turn influences the level of investment...

    I hope I have a nicer examiner, OCR should be ashamed, they are the kind of people that make me hate exams, there is not freedom bar the stupid 6 points they wrote on the markscheme!

    I only need 1 more mark for an A
    Precisely! Oh that's like such a foreign language to me, but it's clear from what you wrote that you definitely hit some of the points. Since when did using alternative words prevent you from getting the mark?!

    I hope so too, you certainly deserve some marks. Just goes to show that there is sometimes issues with marking! Exactly, how ridiculously strict of them :unimpressed:

    You have a good chance then, I'd be very annoyed for you if it came back the same how long will it be before the result comes back?

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    (Original post by purplemind)
    Wow, that's really mean.
    I think they shouldn't be that picky about you not stating 'for firms' as cost of borrowing would be higher for EVERYONE.
    You should have been awarded at least 3 marks, I think. It isn't exacltly what in the markscheme but it should be implied I believe.
    Exactly... If the cost of borrowing increases for consumers this will in turn reduce the level of investment as consumers will tend to save more and reduce their expenditure.

    3/6 I would be happy with, though 4/6 I think as I hit 3 evaluation points, 1 sketch analytical point and my first sentence should have being awarded marks. Fingers crossed I go up by at least 1 mark in the remark
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    (Original post by Robbie242)
    Exactly... If the cost of borrowing increases for consumers this will in turn reduce the level of investment as consumers will tend to save more and reduce their expenditure.

    3/6 I would be happy with, though 4/6 I think as I hit 3 evaluation points, 1 sketch analytical point and my first sentence should have being awarded marks. Fingers crossed I go up by at least 1 mark in the remark
    Maybe the examiner had a bad day? Who knows...
    1 mark off an A? Then it's quite likely you get it.
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    (Original post by Robbie242)
    Backstory:

    The question states:
    ''Comment on whether an increase in the rate of interest would reduce investment''
    The markscheme states 6 points, if you do not hit any of these you do not get the analytical underpinning in order to proceed to the evaluation marks.

    What I find ridiculous here is that I did my analytical underpinning but apparently it wasn't what they wanted. This is the comparison, I got 0/6 for this question

    What I said:
    An increase in the rate of interest increases the cost of borrowing (0 marks)
    And therefore also increases the reward for saving, with a higher cost of borrowing, consumers are more likely to save instead of spend, this reduces aggregate demand, the fall in consumer expenditure leads to a fall in investments as there is no consumer demand to ensure a safe return on investments. A few things to consider is that it depends on the original rate of interest. It depends on the size of the increase in interest rates. It can be offset by another factor e.g. supply side policies, leading to greater investment. Consumers and producer may be optimistic about the future, and so consumer expenditure and investment may not fall. A lower inflation rate could increase exports which could lead to increased investment abroad and at the home country.

    What the markscheme says (I'll link bold parts in my paragraph to marks I should have got):
    An increase in the rate of interest will increase the cost of
    borrowing to firms. (1) - Because I didn't say to firms I lose this mark???
    Consumer expenditure may fall with a higher interest rate
    which may reduce firms’ profits. (1) - Ok I basically said it reduces the firms incentive to invest, rather than profits wouldn't this be suitable?
    Depends on the initial rate of interest. (1) - Original = initial therefore wtf OCR?
    Depends on the size of the increase. (1)
    Other factors may be favourable to investment, eg low
    corporation tax. (1)

    Now I'm not expecting you to understand all of that but put 2 and 2 together surely I should've hit some of those marks...
    I think it's partly because I'm quite used to these mark schemes now and partly because I think AQA, who I'm with, are even worse that made me see where you'd not picked up the marks as I read it before even looking at the mark scheme. They really want you to be pedantic and go through every every single step. It's really annoying, but as my teachers kept telling me last year, we can't assume that the examiners know what we know so we have to be really really pedantic.

    They're still harsh though, I completely agree.

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    (Original post by Pandora.)
    :teeth: Spill the beans! What've you been up to?


    (Original post by furryface12)
    How is it?


    Posted from TSR Mobile

    Sorry I've literally just seen this

    it's really good had my module introductions today and my proper lectures start tomorrow, socmart was yesterday and I joined BIOsoc, bright futures, J- soc and RAG

    First 2 days were all induction things which lasted aages but I won some chocolate from my lecturer in a team building thing my room is mostly decorated.

    got set some work on the first day too! the freshers events have been amazing though!
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    (Original post by adi19956)
    I think it's partly because I'm quite used to these mark schemes now and partly because I think AQA, who I'm with, are even worse that made me see where you'd not picked up the marks as I read it before even looking at the mark scheme. They really want you to be pedantic and go through every every single step. It's really annoying, but as my teachers kept telling me last year, we can't assume that the examiners know what we know so we have to be really really pedantic.

    They're still harsh though, I completely agree.

    Sent from my Nexus 4 using Tapatalk 4
    I'm with AQA as well and I thought they are not that harsh, at least in AS. (I have only seen 1 mark scheme and never tried to learn from them.)
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    (Original post by lilGem)
    Sorry I've literally just seen this

    it's really good had my module introductions today and my proper lectures start tomorrow, socmart was yesterday and I joined BIOsoc, bright futures, J- soc and RAG

    First 2 days were all induction things which lasted aages but I won some chocolate from my lecturer in a team building thing my room is mostly decorated.

    got set some work on the first day too! the freshers events have been amazing though!
    Sounds amazing! Can't wait for next year. How many people where in the group for the team building? Well done. What's Jsoc and RAG?
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    (Original post by Soontobesuper)
    Sounds amazing! Can't wait for next year. How many people where in the group for the team building? Well done. What's Jsoc and RAG?
    It is I've been so busy this is my first half day I've had (all my flatmates bar 2 are arts students so they like to gloat about their days off and limited hours :facepalm:)

    There were 4 of us out of 150(?) also collected my lab coat it's so big on me :sad:

    Jewish society and 'raising and giving' they've organised trips to Peru, to climb Kilamanjaro to go out to developing countries and help build houses

    It's really good fun so far, so so glad I'm here
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    Finally finalised my uni options today Gonna have a shot for medicine at Magdalene college Oxford, Imperial, Birmingham and Bristol. And my headteacher's making me apply for Biomedical sciences at Imperial as a fifth. Gonna send my UCAS application off soon... :afraid:
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    (Original post by usycool1)
    Finally finalised my uni options today Gonna have a shot for medicine at Magdalene college Oxford, Imperial, Birmingham and Bristol. And my headteacher's making me apply for Biomedical sciences at Imperial as a fifth. Gonna send my UCAS application off soon... :afraid:
    :hugs: Good luck!
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    (Original post by lilGem)
    :hugs: Good luck!
    Thanks! :hugs:

    Hope uni's going well for you!
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    (Original post by usycool1)
    Thanks! :hugs:

    Hope uni's going well for you!
    It is
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    (Original post by usycool1)
    Finally finalised my uni options today Gonna have a shot for medicine at Magdalene college Oxford, Imperial, Birmingham and Bristol. And my headteacher's making me apply for Biomedical sciences at Imperial as a fifth. Gonna send my UCAS application off soon... :afraid:
    Mine would probably be the same except not Oxford because of my GCSEs!
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    (Original post by usycool1)
    Finally finalised my uni options today Gonna have a shot for medicine at Magdalene college Oxford, Imperial, Birmingham and Bristol. And my headteacher's making me apply for Biomedical sciences at Imperial as a fifth. Gonna send my UCAS application off soon... :afraid:
    Nice choices! Only 1 of mine matches that list , Bristol
 
 
 
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