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    (Original post by qr95)
    Iv made a mess of this question lol

    1. Intro
    2. How being in the EU causes growth
    3. How leaving the EU would affect growth
    4. Small paragraph about fiscal and supply side policy
    5. Conclusion

    Talked about AD, unemployment, consumption, investment

    Damnnnnnnnnnn! What an epic fail!
    I found the question difficult to talk about things. Like the only benefits of the EU in terms of trade is the non tariff. I probably should have brought in comparative advantage. Sucks... I need a B but it looks like I might not get it.
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    (Original post by MHay)
    I thought that section B question was a gift to be honest.
    HIGH FIVEEEE!
    I didn't :lol: I just went with the one I knew most about (I had about 40 mins for all of it ) but I think it went OK. I ended up asking for another booklet ... to write one more line :teehee:
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    (Original post by Parkway Drive)
    I did 09/10, the one about the balance of trade in goods deficit. What about you?
    I did the same questions. What did you put?
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    (Original post by MHay)
    Not really a fail, para's 1,2,4 and 5 should get you marks.
    Probably around 10 marks because most of my essay was about them leaving like it will benefit the poor as uk will be unregulated and don't have to pay CAP this means more disposable income generating consumption shifting AD resulting in economic growth
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    (Original post by Cooke)
    I did the same questions. What did you put?
    Three factors I put was:
    Quality (non-quantitative)
    Cost of production (quantitative)
    Exchange rate

    Then for 10:
    Intro - SSP definition - showed it with a graph shift in LRAS right

    first point - education and training... blah blah...
    EVAL - very long term and depends on quality of education and training.
    Also, a decrease in the price level will only improve it in the long run - BOP J curve

    second point - subsidy to firm for R&D... blah.. better quality
    EVAL - subsidy can cause inefficient monopolies and it is very costly. If there is a public sector net debt, then this hardly the best option.
    Also is tax is increased to fund the subsidy, then this could cause brain drain/disincentive to work...

    I wanted to put a third point but didn't have time. I was gona say reduce trade union power...

    Conclusion was that SSP are good, such as education and training, but instead of a subsidy to firm, maybe just have tax relief for R&D. Also, I was saying that since the UK has a well educated workforce, its unlikely the the price level is the real issue, its then probably quality.
    Also, I mentioned alternatively they could use demand side policies in the short run, e.g. the MPC using the interest rate to influence the exchange rate. Finally I said the use of both would be best.

    What about you?
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    Anybody worried about the fact that they mentioned leaving the EU, don't be. If you related leaving the EU to developing stronger links with BRIC countries and how that might boost export-led growth you will still pick up marks.
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    (Original post by kelbel1)
    Um, yes, the 10 marks was on unemployment, and the 25 mark was on whether the EU is the best hope for the UK considering the lack of growth- I know what question I did!
    What did u write for the unemployment bit?

    Also, what did u say for the context EU question?
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    (Original post by charlie7wright)
    Anybody worried about the fact that they mentioned leaving the EU, don't be. If you related leaving the EU to developing stronger links with BRIC countries and how that might boost export-led growth you will still pick up marks.
    Yes I said that if they leave they could still trade in the EU like Switzerland and Norway and I think I mentioned trade with Brazil and China
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    Why did everyone do the EU context :confused:

    the global context was very nice
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    (Original post by qr95)
    Yes I said that if they leave they could still trade in the EU like Switzerland and Norway and I think I mentioned trade with Brazil and China
    As long as you related it to an increase in export-led growth its fine. For example you could have mentioned that if the UK left the EU it could make better use of its comparative advantage in financial services and export to emerging economies.
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    for the eu question would this be ok?

    defiintion economic growth and macroeconomic policy

    referred to data

    Then i talked about how being part of eu could help boost UK demand through increased exports and how it could cause growth to slow down

    Then how being part of eu allows UK firms to access skilled workforce from eu which can boost growth but can also cause falling consumption as they could send money back to own country. Also could cause unemployment of uk workers.

    Then talked about exchange rate and hot money flows.

    Then it could be better for UK to reduce reliance on EU trade and trade more with BRIC countries.

    Evaluation.
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    (Original post by Axion)
    Why did everyone do the EU context :confused:

    the global context was very nice
    I thought the EU one provided more scope and allowed me to talk about everything I was good at. What was the global context 25 marker?
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    (Original post by Parkway Drive)
    Three factors I put was:
    Quality (non-quantitative)
    Cost of production (quantitative)
    Exchange rate

    Then for 10:
    Intro - SSP definition - showed it with a graph shift in LRAS right

    first point - education and training... blah blah...
    EVAL - very long term and depends on quality of education and training.
    Also, a decrease in the price level will only improve it in the long run - BOP J curve

    second point - subsidy to firm for R&D... blah.. better quality
    EVAL - subsidy can cause inefficient monopolies and it is very costly. If there is a public sector net debt, then this hardly the best option.
    Also is tax is increased to fund the subsidy, then this could cause brain drain/disincentive to work...

    I wanted to put a third point but didn't have time. I was gona say reduce trade union power...

    Conclusion was that SSP are good, such as education and training, but instead of a subsidy to firm, maybe just have tax relief for R&D. Also, I was saying that since the UK has a well educated workforce, its unlikely the the price level is the real issue, its then probably quality.
    Also, I mentioned alternatively they could use demand side policies in the short run, e.g. the MPC using the interest rate to influence the exchange rate. Finally I said the use of both would be best.

    What about you?
    I did the same question, different structure though

    First talked about effect of Supply side policies (Reduction in Corp tax, Deregulation, Improvement in the occupational mobility of labour) on the balance of trade and evaluated, stating it has a positive effect blah .. but long term and does not solve anything in the short run, leads to reduction in living standards in the short run and evaluated with macro eco indicators

    Then said however alternative policies could be used, i.e Expenditure Switching, Expenditure reducing .. with Evaluation

    Then concluded that supply side policies are effective in improving the balance of trade in goods .. could reduce structural deficit, but there are drawbacks in the short run (relating to current government policy), also stating that expenditure switching and reducing policies can have some success in the short run.
    Then as a last point questioning whether the deficit in the balance of trade is a bad thing .. explaining that the total deficit is 3% of GDP, the deficit is structural though ..)

    Probably other stuff but thats all i can remember, rushed for time a bit in evaluating expenditure switching policies
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    (Original post by charlie7wright)
    I thought the EU one provided more scope and allowed me to talk about everything I was good at. What was the global context 25 marker?
    I preferred the global context question too. The 25 marker was about Middle East and North African countries, asking to what extent the UK should be concerned by a strengthening of the economic importance of these countries. Pretty open, lots of usable points in the data.
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    (Original post by charlie7wright)
    As long as you related it to an increase in export-led growth its fine. For example you could have mentioned that if the UK left the EU it could make better use of its comparative advantage in financial services and export to emerging economies.
    Is this orite tho I said leaving the EU will create jobs in the UK because they are not under regulation because it creates jobs there is more money in the UK and it's not draining out of the economy which leads to economic growth
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    (Original post by qr95)
    Is this orite tho I said leaving the EU will create jobs in the UK because they are not under regulation because it creates jobs there is more money in the UK and it's not draining out of the economy which leads to economic growth
    I'm not sure on that point because that is more based around the arguments for leaving the EU as a whole rather than leaving it to have better trade with BRIC and boost exports.
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    (Original post by Parkway Drive)
    What did u write for the unemployment bit?

    Also, what did u say for the context EU question?
    Ooyar, can't really remember if i'm honest! For the EU, I literally went through the extract, highlighted everything I need and used all of it, didn't need to think of anything because it was all there! x
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    (Original post by charlie7wright)
    I'm not sure on that point because that is more based around the arguments for leaving the EU as a whole rather than leaving it to have better trade with BRIC and boost exports.
    Damn that basically what my essay was about we wasn't taught about BRIC oh well what is done is done theres no changing it

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    did any one do context1 ? the Q3 is that about the impact on uk as the growth of MENA?
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    (Original post by yoonjeonglim)
    did any one do context1 ? the Q3 is that about the impact on uk as the growth of MENA?
    Yesssss! It seems a lot of people have done the other one though.. how did you find it?
 
 
 
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