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A2 OCR Economics F585 June 2016 watch

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    (Original post by hollyetty123)
    I reckon you'll be absolutely fine! Don't stress too much, its done now, no changing it! Just focus on Micro on Thursday and smash out revision for it so you can fall back on that if worse comes to worse
    :ahee::ahee::ahee:
    (Original post by fpmaniac)
    Tbh, you have a possibility of dropping a few marks because A2 macro is so case study based they probably were looking for some real life examples relating to Zambia. But I wouldnt worry about it
    Oh no, I made sure to link some real life examples (learned that from last year)
    Thanks, both of you ~ you've put me at ease:p:p
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    (Original post by fpmaniac)
    Tbh, you have a possibility of dropping a few marks because A2 macro is so case study based they probably were looking for some real life examples relating to Zambia. But I wouldnt worry about it
    What about if I mentioned resource nationalisation and the fact Zambia have inefficient tax collection for Copper (both from extract 3)
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    Any unofficial mark scheme?
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    (Original post by coolguy123456)
    What about if I mentioned resource nationalisation and the fact Zambia have inefficient tax collection for Copper (both from extract 3)
    Did you mention that as a SS policy?
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    (Original post by fpmaniac)
    Did you mention that as a SS policy?
    no as the L4 points for why SS may not work
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    (Original post by coolguy123456)
    no as the L4 points for why SS may not work
    Cant really tell without looking at it. But I would say an example of a supply side policy was a must even if you didnt elaborate on it. In AS it could've been alright if you just listed it but in A2 I would assume you would need to apply it to the case study (a lot of mark schemes say this) so I would think you would lose a mark or two. This is because the question clearly asked '..... in a developing country such as Zambia' so you would've needed to answer that . You applied it in why it wouldnt work though. But im not an examiner so you will just have to wait and see...... im only basing what i said on previous mark schemes.
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    (Original post by fpmaniac)
    Cant really tell without looking at it. But I would say an example of a supply side policy was a must even if you didnt elaborate on it. In AS it could've been alright if you just listed it but in A2 I would assume you would need to apply it to the case study (a lot of mark schemes say this) so I would think you would lose a mark or two. This is because the question clearly asked '..... in a developing country such as Zambia' so you would've needed to answer that . You applied it in why it wouldnt work though. But im not an examiner so you will just have to wait and see...... im only basing what i said on previous mark schemes.
    Oh i did mention L3 supply side polices in form of Deregulation and spending on infrastructure which was mentioned as poor in extract 5 so referenced case study too, i was just asking as L4s would those work.
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    (Original post by coolguy123456)
    Oh i did mention L3 supply side polices in form of Deregulation and spending on infrastructure which was mentioned as poor in extract 5 so referenced case study too, i was just asking as L4s would those work.
    Yeah they should do. The only thing you have to pick out from extract 5 is the level 2 as for as I know so you would be fine
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    (Original post by Marshmallow21)
    I wrote the same for the first bit and then I mentioned that between 2009 and 2011 the current account depreciated but the current account actually worsened a bit - then said this might have been because of the J-curve effect and recession. I really don't think I answered it right though
    You aren't supposed to talk about how short term cyclical factors effected the current account balance, the question was talking about the overall trend, therefore evaluation should be focused on why depreciation doesn't explain the overall trend, I.e. Structural deficit and over valuation of the exchange rate in relation to the Yuan not short term fluctuations in EERI
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    (Original post by YangSquared)
    can anyone remember the 2nd four marker question?
    it was the question about how HDI changed between 2007 and 2009 (I think) based on figure 3.1
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    (Original post by Jhyatt98)
    You aren't supposed to talk about how short term cyclical factors effected the current account balance, the question was talking about the overall trend, therefore evaluation should be focused on why depreciation doesn't explain the overall trend, I.e. Structural deficit and over valuation of the exchange rate in relation to the Yuan not short term fluctuations in EERI
    No mate the ML condition satisfaction is completely valid lol. It explains why the trend didn't translate perfectly into theory...
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    guys for the essay this is what i did
    introduction;definition of supply-side policies, economic growth and long-run growth
    Analysis 1) increase government spending in infrastructure-explained this and used keynesian and explained effect on incrrease in LRAS on macroobjectives. i also used PPC to show this increase in output
    Analysis 2)Deregulation-removal/reductions in regulations/laws efficienc gains, increased competitiveness i didnt do any diagrams since Supply side
    Evaluative 1) Opportunity cost, time lage for large scale infrastructure projects....
    Evaulative 2) initial level of economic activity and dual affect
    Conclusion) use monetary or fiscal alongside supply side
    Altogether about 2 1/4 pages
    I DID NOT WRITE ANYTHING ABOUT RESOURCE NATIONALISATION OR ECONOMIC ZONE!

    Is this a good essay in terms of structure and points made. how many marks would this be?
    i didnt really know what else to write and didnt have enough time to do it all
    THANKS!
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    (Original post by Ecconomist)
    No mate the ML condition satisfaction is completely valid lol. It explains why the trend didn't translate perfectly into theory...
    No mate ha
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    (Original post by hollyetty123)
    I think it was just asking for what should happen when a currency depreciates and what that is expected to do to the CA for the analysis but then the evaluation is why it didn't happen for the USA using the trends on the diagram -nso like poor quality goods, low demand globally due to financial crisis, marshall lerner, J curve theory etc!
    Can anyone explain this for me;
    surely the change in the exchange rate does explain it - the overall trend is that it improved and this is explain by the depreciation, so what is there to argue?
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    (Original post by lulus1)
    Can anyone explain this for me;
    surely the change in the exchange rate does explain it - the overall trend is that it improved and this is explain by the depreciation, so what is there to argue?
    There was a two year period which the depreciation did not lead to an improvement in the US current account position so you could've discussed that.
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    (Original post by lulus1)
    Can anyone explain this for me;
    surely the change in the exchange rate does explain it - the overall trend is that it improved and this is explain by the depreciation, so what is there to argue?
    Change in EERI doesn't explain overall trend in CA deficit (deep, persistent deficit) , what explains it is structural weaknesses in the USA economy (ie high relative unit labour costs etc) and overvaluation of the exchange rate in relation to Yuan which makes US goods less price competitive in the long run
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    Any poll?
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    (Original post by Ecconomist)
    There was a two year period which the depreciation did not lead to an improvement in the US current account position so you could've discussed that.
    Ok so I'm my answer I wrote the theory about why the change in the ER, (exports up, imports down) for one side.
    Then I talked about the time explaining why it wasn't as great an increase, and you can see in 2012 it improves further so supporting this.
    Then Marshall Lerner, suggesting low PED may be the reason it wasn't a great improvement to the current account.
    Then I suggested that it wasn't a result of the exchange rate, but instead the credit crunch resulting in reduced demand, or that there had been an increase in the USAs competitiveness which boosted imports.

    I wasn't really sure what it was asking for so I just wrote a variety, does anything sound credit worthy? I didn't link to the two year period as I thought it would only want us to discuss the overall trend (I seem to be wrong haha)
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    Are tech transfers and increased capital flows e.g. FDI valid in 1a?

    And whats the answer to 1b? Idk what i said but something along the lines of specialisation and eos.
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    For the effective exchange rate question for USA was it basically like econplusdal's. Definition one analysis point explanation what a fall in exchange rate would do to a current account... Then one evaluative point saying fall in income abroad so export prices may not rise, that marshall lerner condition point word to word from econplusdals, and a conclusion of the J curve with some evidence in the case study. Anybody else do this?
 
 
 
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