Turn on thread page Beta

Edexcel Economics Unit 4 Global Economy Discussion Thread (10.June.2014) watch

    Offline

    0
    ReputationRep:
    (Original post by aminkaram)
    Eurozone won't come up if you ask me. They try to maintain some element of recent news in the exam. The question now is about leaving the EU rather than about joining the Eurozone so that's far more likely I would imagine.
    I think a question about leaving the EU will be more likely to be next years questions as they write the papers a year in advance
    Offline

    7
    ReputationRep:
    I highly doubt an EU question will come up, its not in the spec and its a completely different concept to the eurozone.
    Offline

    0
    ReputationRep:
    (Original post by rathani278)
    can u explain me how inheritence will cause inequality?? and a evaluation for it???
    I don't know what this has to do with the original post but sure

    I would say Imagine two people with equal productivity doing the same job and earning the same amount of money. But one of them has inherited a house so they have more wealth. As we know wealth can generate income. So this person can then rent out the house and has an extra source of income compared to his colleague. As a result the income gap between rich and poor increases. And then if I have time I might go on to say income generates more wealth when stored so it creates a vicious cycle but I usually don't have time

    And then for evaluation I would say that estates worth more than 300,000 pounds are taxed at 40% (If I remember correctly). So the impact won't be as significant as initially thought. Also the tax can be used to pay benefits to the poor reducing the income gap
    Offline

    0
    ReputationRep:
    Do we need to make a case study about a specific undder developed country to mention
    or will that be given in the exam ? Also do we need to know about smal details such as the marginal tax rate
    in the Uk for example
    Offline

    0
    ReputationRep:
    (Original post by thestudentoffram)
    Do we need to make a case study about a specific undder developed country to mention
    or will that be given in the exam ? Also do we need to know about smal details such as the marginal tax rate
    in the Uk for example
    you'll need case studies because in section A you have no data and you need to have relevant examples otherwise your grade will go down because you won't have any of "your own knowledge". Not sure about the marginal tax rates though
    Offline

    0
    ReputationRep:
    Just out of curiosity how many people here have noticed that Edexcel is actually owned by Pearson who also owns The Financial Times and 50% of the Economist? I think this has something to do with the fact that nearly all the data response extracts are from The FT or The Economist.
    Offline

    0
    ReputationRep:
    Thank you .Could anyone post relevant case studies that they are going to use?
    Offline

    0
    ReputationRep:
    (Original post by thestudentoffram)
    Thank you .Could anyone post relevant case studies that they are going to use?
    My teacher made us give presentations comparing a less developed african country to the uk three times. I chose Cameroon, what's really important is that you can compare it to a more advanced country, preferably numerically.
    Offline

    15
    ReputationRep:
    How the **** do you revise for this? I've just been using some the revision guide as well as trying to revise essays. But the first section seems hard since they could ask lots of things about current affairs :\. What's everyone elses method?
    Offline

    0
    ReputationRep:
    (Original post by The Assassin)
    How the **** do you revise for this? I've just been using some the revision guide as well as trying to revise essays. But the first section seems hard since they could ask lots of things about current affairs :\. What's everyone elses method?
    The only way to ace this exam is by really learning everything by heart. Then it's just practice practice practice I would say.
    Offline

    0
    ReputationRep:
    (Original post by aminkaram)
    I don't know what this has to do with the original post but sure

    I would say Imagine two people with equal productivity doing the same job and earning the same amount of money. But one of them has inherited a house so they have more wealth. As we know wealth can generate income. So this person can then rent out the house and has an extra source of income compared to his colleague. As a result the income gap between rich and poor increases. And then if I have time I might go on to say income generates more wealth when stored so it creates a vicious cycle but I usually don't have time

    And then for evaluation I would say that estates worth more than 300,000 pounds are taxed at 40% (If I remember correctly). So the impact won't be as significant as initially thought. Also the tax can be used to pay benefits to the poor reducing the income gap

    thanksss alot
    Offline

    15
    ReputationRep:
    Hi

    Can someone please help me with what the effects of trading blocs are on the global economy ? I don't understand this topic well and any help especially evaluations would be helpful.

    thanks
    Offline

    5
    ReputationRep:
    (Original post by Kutie Karen)
    Hi

    Can someone please help me with what the effects of trading blocs are on the global economy ? I don't understand this topic well and any help especially evaluations would be helpful.

    thanks
    Free trade between the country increases
    Economics integration
    Specialisation - Avantage of comparative and absolute advantage
    Trade creation
    FDIs Increases
    Movement of capital and labour between countries as well sharing of technology and knowledge between countries' increases
    Evaluation:
    trade diversion: Countries outside of trading blocs are avoided from Exporting their products to member countries
    Trade distortion
    Retaliation by other countries' would lead to reduce trade between countries
    Offline

    0
    ReputationRep:
    (Original post by Edward Cullen)
    Free trade between the country increases
    Economics integration
    Specialisation - Avantage of comparative and absolute advantage
    Trade creation
    FDIs Increases
    Movement of capital and labour between countries as well sharing of technology and knowledge between countries' increases
    Evaluation:
    trade diversion: Countries outside of trading blocs are avoided from Exporting their products to member countries
    Trade distortion
    Retaliation by other countries' would lead to reduce trade between countries
    Can you explain trade distortion and how you would use it please?
    Offline

    1
    ReputationRep:
    guys, i know this is a really long shot, but do you think i'll get by without learning 4.3.7 in the syllabus in too much detail? i can memorize the other topics really well but because that particular section wasn't taught very well it's very disorganized and most of the stuff we did was really, really detailed unit 2 stuff (if i remember correctly)... i figure i might as well know the others really well and do them in the exam instead of wasting time trying to relearn 4.3.7, what do you guys think?
    Offline

    5
    ReputationRep:
    Ok.. so, some one messaged me to give some tips of how to study Economics unit 4. I have to say i'm not very good at giving tips, but the following tips might be helpful if you want to score high:
    First go through well with the notes, you should revise through the text books as well as use tutor2u.com & economicsonline.co.uk for reading the notes
    Make your own notes, that would help you keep remembering the points
    Make sure you remember the points by just going through your own notes, cux probably you might forget very important points
    For each topic find the statistics and current trends, statistics..etc, such as unemplyment rate of UK, growth rate..etc (check economicsonline.co.uk), read http://www.bbc.co.uk/news/business-11177214, http://news.bbc.co.uk/2/hi/business/6279679.stm you can see read the most updated news and statistics from there
    IT'S BEEN A BIT LATE FOR THE EXAM TO DO THE ABOVE STEPS, SO YOU SHOULD HAVE DONE ENOGH REVISION NOW
    Now you should be sure that you know pretty well about all the topics, and if you think you are weak at any topic revise that topic before its too late
    DO ALL THE QUESTIONS IN THE PAST PAPER, because many questions are repeatedly asking.. and after doing each question check the mark scheme, and make sure you will remember enough points to write them in the exam
    Please go through with the examiners' report after each question. For instance after doing 1(a), check the Mark scheme, and check the examiners' report of that question and read what examiners' expecting to write in that answer, ALSO PLEASE READ THE SAMPLE ANSWERS GIVEN AFTER DOING EACH QUESTION, that would give you an idea of how to score high ( i take the examples that are used in their writings)
    WHILE WRITING THE ANSWER:
    use more examples for each topic, and data. For instance if it is related to inequality, you could compare between northern england and southern england and their average income
    give a conclusion, that would impress the examiners' helping to mark your paper positvely
    ALSO TRY READINg THESE
    http://econsguide.blogspot.com/2012/...or-points.html
    http://econ.economicshelp.org/
    Offline

    0
    ReputationRep:
    How long should I write for the 15mark in the data response? I tend to write it in detail, which makes it look like a 20mark answer and it definitely cost me time. help needed thx!!!


    Posted from TSR Mobile
    Offline

    0
    ReputationRep:
    (Original post by runjennyrun17)
    How long should I write for the 15mark in the data response? I tend to write it in detail, which makes it look like a 20mark answer and it definitely cost me time. help needed thx!!!


    Posted from TSR Mobile
    If you're short on time give two points in detail and two evaluation points in detail. Approach it as a mini essay. And remember that unless the question specifically asks you too refer to the extract you can use examples from your own knowledge for application marks. Also, remember that if you are very short for time you will get a few knowledge marks for giving short bullet points
    Offline

    0
    ReputationRep:
    (Original post by aminkaram)
    If you're short on time give two points in detail and two evaluation points in detail. Approach it as a mini essay. And remember that unless the question specifically asks you too refer to the extract you can use examples from your own knowledge for application marks. Also, remember that if you are very short for time you will get a few knowledge marks for giving short bullet points
    thank you so much for the advice


    Posted from TSR Mobile
    Offline

    5
    ReputationRep:
    (Original post by aminkaram)
    My teacher made us give presentations comparing a less developed african country to the uk three times. I chose Cameroon, what's really important is that you can compare it to a more advanced country, preferably numerically.
    Heyy, if you don't mind can you E-mail me that presentation. I would be grateful for that...
 
 
 
Poll
Do you think parents should charge rent?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.