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    ATP, Toolkit, Book and logic feel free to pm me for any resources i have mentioned
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    (Original post by EspanaShaq)
    1
    (a) Define what is meant by
    (i) monetary union.
    (2 marks)
    (ii) fiscal discipline.
    (2 marks)
    (b) With reference to Extracts 1 – 3, analyse two ways in which monetary union acts as a
    constraint on economic policy.
    (6 marks)
    (c) Comment on the view expressed by Professor Stiglitz that austerity measures were
    not the way to prevent default in Greece.
    (10 marks)
    2
    (a) With reference to Extract 4, explain two reasons why the Argentinean economy
    grew rapidly after 2002.
    (4 marks)
    (b) With reference to Extract 4, analyse the likely impacts of changes in Argentina’s
    terms of trade.
    (6 marks)
    (c) Comment on the view that Greece should follow Argentina’s lead and exit from
    monetary union.
    (10 marks)
    3 With reference to Extract 5, discuss the extent to which foreign direct investment promotes
    economic development.
    Thank you so much for putting these up !

    I was just wondering on the question about the impact of changes in Argentina's terms of trade. What do they mean about the impact? Is it the impact it has on Argentina's economy? i.e. GDP, output, employment BoP etc. Or are we supposed to talk about the fact that agriculture commodities are income inelastic and why that may be beneficial. I don't really understand the question. Help pls anyone?
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    (Original post by EnhanceTuition)
    Hi all, I've started looking at this case study and am putting together some YouTube tutorials for F585. I started a few last year that were pretty popular on www.youtube.com/ohjuneth but this year I'll be posting them online to www.youtube.com/EnhanceTuition. I will examine the introduction, individual extracts and discuss overlaps with material in the F585 specification. You can check out the materials I put together for the June exam to get an idea of my approach. The final question also follows a similar pattern - as all past OCR F585 papers have drawn their final question from the final paragraph of the introduction. More on this later...
    Thanks !! cant wait for the videos
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    (Original post by king101)
    I dont know about you but im not using any ayp guides or anything even though i have 2 different ones..i just think there extra..im using text book and making sense of the case study myself..i think the guides are jusy wayyyy to much. If you understand it i doubt you need them and you can really revise from them

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    Im using the textbook and the stimilus mainly and the toolkit on the side if i get stuck on parts!
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    (Original post by iggyDash)
    Im using the textbook and the stimilus mainly and the toolkit on the side if i get stuck on parts!
    Are you revising text and stimulus together or one then the other?? I started from the trade bit of the textbook about comparative advantage and gone all the way to trade integration so far


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    (Original post by EspanaShaq)
    1
    (a) Define what is meant by
    (i) monetary union.
    (2 marks)
    (ii) fiscal discipline.
    (2 marks)
    (b) With reference to Extracts 1 – 3, analyse two ways in which monetary union acts as a
    constraint on economic policy.
    (6 marks)
    (c) Comment on the view expressed by Professor Stiglitz that austerity measures were
    not the way to prevent default in Greece.
    (10 marks)
    2
    (a) With reference to Extract 4, explain two reasons why the Argentinean economy
    grew rapidly after 2002.
    (4 marks)
    (b) With reference to Extract 4, analyse the likely impacts of changes in Argentina’s
    terms of trade.
    (6 marks)
    (c) Comment on the view that Greece should follow Argentina’s lead and exit from
    monetary union.
    (10 marks)
    3 With reference to Extract 5, discuss the extent to which foreign direct investment promotes
    economic development.

    On your question 2c) Was Argentina in a monetary union before? Didn't it just have its currency fixed to the Peso?
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    (Original post by bad8oy)
    Are you revising text and stimulus together or one then the other?? I started from the trade bit of the textbook about comparative advantage and gone all the way to trade integration so far


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    one then other and then thoroughly learn the linked extracts from the textbook
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    (Original post by Meathead-jack)
    On your question 2c) Was Argentina in a monetary union before? Didn't it just have its currency fixed to the Peso?
    Yeah good point! It wasn't in a monetary union, was it?
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    (Original post by abbie345)
    Yeah good point! It wasn't in a monetary union, was it?
    Argentina is still classified as a monetary union since it and the dollar and same due to fixed exchange rate system


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    (Original post by bad8oy)
    Are you revising text and stimulus together or one then the other?? I started from the trade bit of the textbook about comparative advantage and gone all the way to trade integration so far


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    Nice to see u on this thread

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    Could anyone explain the 'distinction between full monetary union and quasi monetary union'... in enough detail so that I can put it correctly into my notes? I have a general idea but no solid answer!

    Would this be alright:
    ‘A full monetary union is the deepest form of integration in which countries share the same currency and have a common monetary policy as a result. A quasi monetary union is when a country is not in an agreed full monetary union but is almost, and in the case of Argentina it was because they didn’t adopt a common currency with another state, but merely pegged there currency to another currency.’

    ALSO, does anyone think there will be a specific question saying 'Should Greece leave the EU?'

    Thank you!!
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    (Original post by harryembleton)
    Could anyone explain the 'distinction between full monetary union and quasi monetary union'... in enough detail so that I can put it correctly into my notes? I have a general idea but no solid answer!

    Would this be alright:
    ‘A full monetary union is the deepest form of integration in which countries share the same currency and have a common monetary policy as a result. A quasi monetary union is when a country is not in an agreed full monetary union but is almost, and in the case of Argentina it was because they didn’t adopt a common currency with another state, but merely pegged there currency to another currency.’

    ALSO, does anyone think there will be a specific question saying 'Should Greece leave the EU?'

    Thank you!!
    About the question with Greece leaving the eu it would just be
    Argument for monetary union
    Increased trade,increased growth,increased price transparency, increased efficiency,reduced xr uncertainty,increased fdi,increased economic influence

    Arguments against
    Loss of monetary policy, no depreciation to prevent lost competition, non convergence problems, control of inflation more important then growth, fiscal transfers


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    (Original post by bad8oy)
    About the question with Greece leaving the eu it would just be
    Argument for monetary union
    Increased trade,increased growth,increased price transparency, increased efficiency,reduced xr uncertainty,increased fdi,increased economic influence

    Arguments against
    Loss of monetary policy, no depreciation to prevent lost competition, non convergence problems, control of inflation more important then growth, fiscal transfers


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    Thank you, that really put the question in perspective - I never see the real meaning of the questions!
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    (Original post by bad8oy)
    About the question with Greece leaving the eu it would just be
    Argument for monetary union
    Increased trade,increased growth,increased price transparency, increased efficiency,reduced xr uncertainty,increased fdi,increased economic influence

    Arguments against
    Loss of monetary policy, no depreciation to prevent lost competition, non convergence problems, control of inflation more important then growth, fiscal transfers


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    I thought the arguement for was like they get financial assistances to pay of debt..disadvantage is like loose fdi etc. Component of AD

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    Quick question please help. Why would Greece defaulting cause a depreciation?
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    (Original post by Jsavidge)
    Quick question please help. Why would Greece defaulting cause a depreciation?
    Because value of their currency falls. Also they have to make up a new currency which is another disadvantage

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    (Original post by king101)
    I thought the arguement for was like they get financial assistances to pay of debt..disadvantage is like loose fdi etc. Component of AD

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    Nah eu is a monetary union right?? so it's for and against the monetary union


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    (Original post by Jsavidge)
    Quick question please help. Why would Greece defaulting cause a depreciation?
    Same sort of thing as what else was said, but it would cause Greece to go back to the drachma (?) and because it would be a new currency people would have less confidence in it, so would be less willing to buy Greek products. Also, people have less confidence in Greece in general, therefore quantity of exports would decrease from Greece and this would also lead to depreciation
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    (Original post by harryembleton)
    Thank you, that really put the question in perspective - I never see the real meaning of the questions!
    your welcome
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    Hey all, is everyone sure that FDI will come up for the 20 marker? Im nervous that it wont and it will definitely throw me off course
 
 
 
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