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OCR Economics Synoptic 2888 June 09 - YOUR GAME PLAN?! watch

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    not too bad....i need a C in this and development to get an A overall so less pressure i guess! oh and thanks for all the help and stuff.
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    was actually epic. I aced question 4, since it was essentially predicted to a t. Tutor2u pretty much predicted 1, 2, and 4. Didn't like 3 so much as I couldn't work out whether I was meant to discuss the advantages and disadvantages of biofuels or not but did so anyway because I was running out of stuff to say about subsidies, just said standard stuff on that front about administration costs, inefficiency, food inflation, rising oil prices, opportunity cost, how it depends on the size of the subsidy, time period it is granted for, PED of biofuels, etc.

    Finally, my luck is changing.
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    q3 was the worst and for the last question what did everyone write? i talked about the permits and alternatives but rounded it off with ETS being better as long as they sort out the allocation and price to encourage investment etc. is that right?
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    o ****...

    easy paper, but on last question i had a blank and did this.....

    "the ETC will cause a reduction in the total emissions from production, which will manifest itself in a reduction of the externalities ascociated"

    but then i drew this (see below) and said that this shows how the shift in MSC has caused a fall in costs to society



    disaster. i only needed 33/60 raw for an A i think, rest of the essay had all the evaluation etc, anyone know how badly that could go down?!
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    (Original post by 7ate9)
    q3 was the worst and for the last question what did everyone write? i talked about the permits and alternatives but rounded it off with ETS being better as long as they sort out the allocation and price to encourage investment etc. is that right?
    I liked question 3 the most. There's so much to talk about with subsidies, opp. cost then starvation in 3rd world, it could be a waste of money.
    4 was a bit weird with the externalities, I didn't know what to write about ext. for that q, so made some stuff up, and then just talked about carbon tax etc.

    And q2 wtf, I drew the diagram and explained it and what else was there to do?? I wrote why prices actually did rise just to add some meat to it.

    For the Russia one, did people talk about the tarriffs in the Eu aswell?
    Did anyone draw a negative ext. diagram saying how subsidies shift MPC to the right which increases the market failure???
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    (Original post by Prince-Myshkin)
    o ****...

    easy paper, but on last question i had a blank and did this.....

    "the ETC will cause a reduction in the total emissions from production, which will manifest itself in a reduction of the externalities ascociated"

    but then i drew this (see below) and said that this shows how the shift in MSC has caused a fall in costs to society


    disaster. i only needed 33/60 raw for an A i think, rest of the essay had all the evaluation etc, anyone know how badly that could go down?!
    :eek3: I dunno but that is a pretty big blemish, you don't need much for an A anyway so it won't be too bad.
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    (Original post by 7ate9)
    q3 was the worst and for the last question what did everyone write? i talked about the permits and alternatives but rounded it off with ETS being better as long as they sort out the allocation and price to encourage investment etc. is that right?
    question 4 I just discussed how the scheme works, benefits and what in theory it should achieve, drew a diagram of how it is supposed to work, then went on to go on about why in practice, it often fails and talked about overallocation of permits, incorrect level of the cap, govt favouring certain industries, price collapses, uncertainty in the scheme, etc. Then I also mentioned how the recession could impact the scheme and showed how since output had declined for many manufactured goods, demand for the permits shifted to the left, prices collapsed and the incentive to invest in green technologies was reduced. I went on to discuss how it could reduce negative externalities and drew the diagram for an externality, showing private marginal cost increasing, and reducing the deadweight loss in welfare and a reduction in the overproduction/consumption and went on about how it is nearer to the social optimum output. Finally, I ended with alternatives to the scheme such as green taxes, laws of disposal of household goods, consumer allowances, tougher regulation and mainly carbon tax, of which I discussed briefly the advantages and disadvantages and why it could be used in place of or alongside the ETS since it eliminates the uncertainty that is found in the ETS.

    Didn't particularly like question 3 but I think I lost about 5 marks on it, tops. I don't think I lost any marks on question 1a, maybe 1/2 on question b, if that, up to 5 on question 3 and I don't think I lost any marks on question 4. I did a crapload of diagrams for 4, 2 diagrams to show how the ETS should work and how it's affected by recession, 2 externality diagrams and one other which I can't recall.....

    This is only of course if I'm wrong in my thoughts that OCR have a total vendetta against me. Which I'm almost certain they do.
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    (Original post by vinsta)
    I liked question 3 the most. There's so much to talk about with subsidies, opp. cost then starvation in 3rd world, it could be a waste of money.
    4 was a bit weird with the externalities, I didn't know what to write about ext. for that q, so made some stuff up, and then just talked about carbon tax etc.

    And q2 wtf, I drew the diagram and explained it and what else was there to do?? I wrote why prices actually did rise just to add some meat to it.

    For the Russia one, did people talk about the tarriffs in the Eu aswell?
    Did anyone draw a negative ext. diagram saying how subsidies shift MPC to the right which increases the market failure???
    For question 2, I essentially wrote what tutor2u wrote in the toolkit as to what would happen if butter prices fell I also went on about PED, low income elasticity of demand, the fact that since real and discretionary incomes are rising, they may switch away from spending on butter and surpluses could arise, talked about production costs of other food. Was a bit concerned though as it said on the butter market and if you literally were just to talk about butter, admittedly there's not much to be said.

    And I didn't talk about tariffs cos they seemed to mainly want to focus on max prices. Good thing tbh as I finished the paper with like 30 seconds to spare. And LOL I threw in some random statement about validity at the very end of my paper.
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    I thought the exam went quite well. The tutor2u booklet was very helpful I must say, and I though it covered pretty much everything that came up in depth, for example, the bits about positives and negatives of biofuels.

    I presumed the externalities on question 4 related to polluting a third party, be it the environment and/or people, so I went on about how the ETS can help tackle it by reducing carbon emissions to some degree (plus referring to the negative apsects of the ETS), but mentioned how it's near to impossible for firms to not pollute any third parties at all given current day reliance on carbon emitting energy forms.
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    (Original post by thenewromance)
    For question 2, I essentially wrote what tutor2u wrote in the toolkit as to what would happen if butter prices fell I also went on about PED, low income elasticity of demand, the fact that since real and discretionary incomes are rising, they may switch away from spending on butter and surpluses could arise, talked about production costs of other food. Was a bit concerned though as it said on the butter market and if you literally were just to talk about butter, admittedly there's not much to be said.

    And I didn't talk about tariffs cos they seemed to mainly want to focus on max prices. Good thing tbh as I finished the paper with like 30 seconds to spare. And LOL I threw in some random statement about validity at the very end of my paper.
    Oh, yeah. I mentioned the effect on food prices as a whole, and about the effect on smaller farmers. Sounds good to me
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    I thought that went okay. I thought question 2 was weird though... I explained my diagram but what else could you write?

    I <3 TUTOR4U they saved my exam assed but!
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    Were those blogs I linked to of any help?
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    That was so awesome
    OCR must hate tutor2u !!
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    (Original post by sarahharris)
    Were those blogs I linked to of any help?
    yeah they were awesome
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    (Original post by 7ate9)
    q3 was the worst and for the last question what did everyone write? i talked about the permits and alternatives but rounded it off with ETS being better as long as they sort out the allocation and price to encourage investment etc. is that right?
    Same, though I also write that they should improve it by extending it to mor than 50% of the companies, and also coordinate globally (otherwise there's the free rider problem)
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    Wasn't question 3.. Comment on the use for subsidies to encourage farmers to produce "energy crops". How can you write about the goods and the bads of the energy crops when it asks the reasons for using a subsidy? Is it my english or what?
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    I thought I done well but by the looks of it, I must've misunderstood the subsidy question(I think Q3)
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    (Original post by Virus.exe)
    Wasn't question 3.. Comment on the use for subsidies to encourage farmers to produce "energy crops". How can you write about the goods and the bads of the energy crops when it asks the reasons for using a subsidy? Is it my english or what?
    It's the effects of the subsidy.
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    I won't get into uni, not even my insurance. :cry:

    I did sooo badly, I left the data analysis til the end and will probably only get 3 marks for it...also I was gonna go back to finish off question 2 but I didn't have time, I wrote about 4-5 pages for the last question, probably a bit too much considering that if I had stopped earlier and did the earlier ones I left out, I would have got more marks marginally.

    Since by bad bits are in the beginning of the paper, I'm worried this will leave a bad impression on the examiner so the better bits at the end might get marked badly.

    Also, as everyone seems to have done so well and with tutor2u predicting a few of the qs correctly, the grade boundary will probably go up.

    :cry:
    :cry:
    :cry:
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    (Original post by vinsta)
    It's the effects of the subsidy.
    I swear it didn't have effects on that question:confused:! I'm such a flop!!! I thought they were asking how effective it was FOR encouraging?
 
 
 
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