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F581/ F582 Economics June 2013 Watch

  • View Poll Results: How hard did we find this exam ?
    so hard i felt like crying through the exam
    13
    12.50%
    very difficult , but one or two were alright
    13
    12.50%
    fairly standard
    33
    31.73%
    quite easy , with one or two hard ones
    35
    33.65%
    so easy i felt like dancing throughout the exam
    10
    9.62%

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    What's likely to come up on Friday guys?
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    To those who are doing the F581 (unit 1) economics test on friday, any idea of what questions are expected to come up, and what the 18 marker might possibly be on?
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    (Original post by LampardLegend)
    Yeah apologies, I meant 2592, hand slipped
    hey guys

    for question 4a) i got a totally different answer, which i do believe is right, i might be wrong however haha, hear me out:

    In the case study they said something like GDP accounted for 35% in 2011, and investments was 40%.. surely that means youre not simply getting the GDP value and multiplying it by 0.40..?

    Because 35% represented GDP, that means 6480Million dollars = 35%
    Therefore you find 1% of that 6480 / 35 ... = 185.142...

    Then to find the 45% you would times the answer by 45
    = 8331.42...


    I know its not a round number like what you guys got for simply multiplying by 0.4, but this is how interpreted the question :/

    I do also remember reading in the case study investment value was greater than GDP, so it does seem somewhat legit haha. If anyone can get their hands on the case study, or accurately recall what the case study said would be awesome.

    Anyway someone please tell me they did this aswell, 'cause speaking to the rest of my econ friends they all did what you did.
    This is just my opinion, don't hate
    cheers.
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    (Original post by nick123456789)
    hey guys

    for question 4a) i got a totally different answer, which i do believe is right, i might be wrong however haha, hear me out:

    In the case study they said something like GDP accounted for 35% in 2011, and investments was 40%.. surely that means youre not simply getting the GDP value and multiplying it by 0.40..?

    Because 35% represented GDP, that means 6480Million dollars = 35%
    Therefore you find 1% of that 6480 / 35 ... = 185.142...

    Then to find the 45% you would times the answer by 45
    = 8331.42...


    I know its not a round number like what you guys got for simply multiplying by 0.4, but this is how interpreted the question :/

    I do also remember reading in the case study investment value was greater than GDP, so it does seem somewhat legit haha. If anyone can get their hands on the case study, or accurately recall what the case study said would be awesome.

    Anyway someone please tell me they did this aswell, 'cause speaking to the rest of my econ friends they all did what you did.
    This is just my opinion, don't hate
    cheers.
    I remember multiplying something by 0.4 but I came out with an exact number.
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    (Original post by nick123456789)
    hey guys

    for question 4a) i got a totally different answer, which i do believe is right, i might be wrong however haha, hear me out:

    In the case study they said something like GDP accounted for 35% in 2011, and investments was 40%.. surely that means youre not simply getting the GDP value and multiplying it by 0.40..?

    Because 35% represented GDP, that means 6480Million dollars = 35%
    Therefore you find 1% of that 6480 / 35 ... = 185.142...

    Then to find the 45% you would times the answer by 45
    = 8331.42...


    I know its not a round number like what you guys got for simply multiplying by 0.4, but this is how interpreted the question :/

    I do also remember reading in the case study investment value was greater than GDP, so it does seem somewhat legit haha. If anyone can get their hands on the case study, or accurately recall what the case study said would be awesome.

    Anyway someone please tell me they did this aswell, 'cause speaking to the rest of my econ friends they all did what you did.
    This is just my opinion, don't hate
    cheers.
    You multiply the total real GDP by the percentage of investment, and you get a nice round number. 2572 or something like that.
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    (Original post by nick123456789)
    hey guys

    for question 4a) i got a totally different answer, which i do believe is right, i might be wrong however haha, hear me out:

    In the case study they said something like GDP accounted for 35% in 2011, and investments was 40%.. surely that means youre not simply getting the GDP value and multiplying it by 0.40..?

    Because 35% represented GDP, that means 6480Million dollars = 35%
    Therefore you find 1% of that 6480 / 35 ... = 185.142...

    Then to find the 45% you would times the answer by 45
    = 8331.42...


    I know its not a round number like what you guys got for simply multiplying by 0.4, but this is how interpreted the question :/

    I do also remember reading in the case study investment value was greater than GDP, so it does seem somewhat legit haha. If anyone can get their hands on the case study, or accurately recall what the case study said would be awesome.

    Anyway someone please tell me they did this aswell, 'cause speaking to the rest of my econ friends they all did what you did.
    This is just my opinion, don't hate
    cheers.
    No, I don't think so as it gave the total real GDP figure for China and Japan... not the figure of counsumer expenditure...
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    Oh ok, so i either misread the question, or was trying to be too smart -.-.

    thanks guys
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    the fact is, results day is on my birthday, if I don't get an A I think I might cry in the exam hall!
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    (Original post by shaggyk)
    Ahh great thanks! are you taking the unit 1 exam this Friday by the way?
    yup

    I also liked this paper, but most of my revision didn't come in handy since I was revising more the current account haha I did talk a little about what the exchange rate would do to it in the essay so I guess my revision wasn't in vain!
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    (Original post by nick123456789)
    hey guys

    for question 4a) i got a totally different answer, which i do believe is right, i might be wrong however haha, hear me out:

    In the case study they said something like GDP accounted for 35% in 2011, and investments was 40%.. surely that means youre not simply getting the GDP value and multiplying it by 0.40..?

    Because 35% represented GDP, that means 6480Million dollars = 35%
    Therefore you find 1% of that 6480 / 35 ... = 185.142...

    Then to find the 45% you would times the answer by 45
    = 8331.42...


    I know its not a round number like what you guys got for simply multiplying by 0.4, but this is how interpreted the question :/

    I do also remember reading in the case study investment value was greater than GDP, so it does seem somewhat legit haha. If anyone can get their hands on the case study, or accurately recall what the case study said would be awesome.

    Anyway someone please tell me they did this aswell, 'cause speaking to the rest of my econ friends they all did what you did.
    This is just my opinion, don't hate
    cheers.

    Um, it said chinas real GDP was 6480billion, and it said investment was 40 percent of chinas real GDP, so you times 6480 by 0.40 surely? I think you've over complicated it a bit ?
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    (Original post by LampardLegend)
    Um, it said chinas real GDP was 6480billion, and it said investment was 40 percent of chinas real GDP, so you times 6480 by 0.40 surely? I think you've over complicated it a bit ?
    You are correct. It was a 2 marker AS economics question, they are only testing your knowledge that investment is a portion of GDP and you have to find the appropriate figures.
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    (Original post by tom_elsey)
    the fact is, results day is on my birthday, if I don't get an A I think I might cry in the exam hall!
    Get the envelope and open them the next day. Or celebrate your birthday a day early! Don't want tears on your bday do we.
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    (Original post by CTArsenal)
    yup

    I also liked this paper, but most of my revision didn't come in handy since I was revising more the current account haha I did talk a little about what the exchange rate would do to it in the essay so I guess my revision wasn't in vain!
    ooh ok, i didn't do the unit 2 exam this time, i did it in jan and got an A
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    I have a feeling that the 18 marker will be on minimum/maximum prices on the alcohol issue. Something like 'Discuss whether the government should impose a minimum price on the production or consumption of alcohol'.
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    Nah, defo a chance of indirect taxation coming up. Such as "discuss the extent to which Indirect Taxation by the government is an effective solution to correct market failure arising from pollution."
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    thank god for this exam - atleast these 18 markers i can do !!! desperately want it to be on subsidisation/taxation/regulations as they are NICEE to talk about hahaha
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    (Original post by M.I.A)
    I have a feeling that the 18 marker will be on minimum/maximum prices on the alcohol issue. Something like 'Discuss whether the government should impose a minimum price on the production or consumption of alcohol'.
    what's the effect of imposing a minimum price ?! never even saw this in the textbook :/
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    (Original post by Fas)
    what's the effect of imposing a minimum price ?! never even saw this in the textbook :/
    It is another form of correcting market failure.
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    (Original post by M.I.A)
    It is another form of correcting market failure.
    is it in the OCR textbook ? almost certain i have never seen this... i understand it imposes a minimum price on products but how does that correct market failure ?
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    (Original post by M.I.A)
    It is another form of correcting market failure.
    But not one that we have the discuss, according to he OCR specification, thankfully!


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