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    European Central Bank lowers base rate from 0.25% to 0.15% :O
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    (Original post by TheHenri)
    couldnt it buy heaps of foreign exchange reserves which would increase pound supply and thus devaluate?
    That would cause a depreciation, devaluation and depreciation are two different things
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    Evaluate the impacts of policies designed to reduce poverty in a developing contry of your choice. This is yet to be asked. What would be your 4 main points and evaluation. What country would you choose?
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    Hey guys, so I have done this unit in 3 weeks and haven't done a paper yet, I did unit 3 in 2 weeks so basically in the last month I've had to do A2 Econ. I am confident of close to full UMS in the exam on Tuesday. What do you suggest I do to be prepared for the exam next Tuesday? I have FP2 tomorrow and then I have the whole time to do Eco 4. I would like to get an A* but I only need an A for my offer so a C in this unit is enough. I was just thinking of spending one day learning all the definitions and the roles of the government bodies, then the rest just do all the papers available and answer all the questions on them. People are saying we need real life examples, could someone tell me where I could find ones relative to what could come up, so like an example of Aid or trade barriers helping or not helping etc. Do you think this is a good idea or should I try to focus more on one topic such as globalisation? And for the essays, should I just memories 3/4 points for each question that could come up instead of learning it all? As this is usually what is required. If you have any tips I would appreciate it

    Good luck everyone, stay calm
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    (Original post by Boy_wonder_95)
    That would cause a depreciation, devaluation and depreciation are two different things
    How far are they different?
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    Hey, do you think anything will come up on absolute poverty, the causes and effects of it in a 20/30 marker??
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    (Original post by TheHenri)
    couldnt it buy heaps of foreign exchange reserves which would increase pound supply and thus devaluate?
    The Uk government tried to do that in the 90s for two years when they were considering joining the EU before it officially opened. It used a lot of the gold reserves but wasn't very effective as experiencing high levels of economic growth, with the UK having a high propensity to import countered the effects.
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    Is the euro operating under a fixed, semi-fixed ir floating exchange rate system?
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    (Original post by TheHenri)
    How far are they different?
    This might explain it better than I do http://www.economicshelp.org/blog/35...on-definition/
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    (Original post by areddishherring)
    European Central Bank lowers base rate from 0.25% to 0.15% :O
    And negative interest rates for commercial banks that are holding money in the ECB to encourage lending I think so anyway, see if you can find a link on it.
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    Does anyone have case studies or economic data on countires that could be used in part A of the exam?
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    (Original post by Musta96)
    Does anyone have case studies or economic data on countires that could be used in part A of the exam?
    This might sound bad but i make up most my application marks. For example Africa has a saving rate of 20% or more than 30,000 people in South Africa have been diagnosed with HIV in the year. I always get the marks by my teachers. i doubt the examiners will check for specific numbers and percentages.
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    Can someone help me with the structure of this essay question. Its from June 2011 paper and is 2b:

    To what extent is reducing the number of people living in absolute poverty
    sufficient to achieve economic development? (30 marks)

    I know kind of what its asking: by reducing the people in absolute poverty, is economic development achieved? but I found it really hard to think of points and when I looked at the mark scheme there were only 3 points about what I said above (That reducing absolute poverty does achieve econ development) which I thought was KAA points and it showed in the markscheme 9 points about why reducing the number of people in absolute poverty is NOT sufficient to achieve economic development (which i thought would be Eval points). And the actual evaluation points on the mark scheme are just random points not like an argument. Can someone help explain this to me? Like the structure and how the points should be set out?

    Thanks and sorry for the long post.

    P.S I know it was posted before but if anyone does know what the blue text in the mark scheme means that would be useful to know.
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    Are we supposed to memorise case studies. What ones are good examples. Anyone got some good sites?
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    (Original post by mhassan)
    This might sound bad but i make up most my application marks. For example Africa has a saving rate of 20% or more than 30,000 people in South Africa have been diagnosed with HIV in the year. I always get the marks by my teachers. i doubt the examiners will check for specific numbers and percentages.
    Damn man, I gotta applaud u if u are gonna try that in the exam... I would never dare think of it coz I always think those examiners are against me and I wouldn't want to provide them with the resources to f*** me over...

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    What kind of data/application are you guys using?
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    Could also do with some case studies on Africa for example being put in here
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    What is the difference between economic growth and development?
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    (Original post by Livaren)
    What is the difference between economic growth and development?
    Economic growth is an increase in real GDP
    Economic development is an improvement in economic welfare such as literacy rates, sanitation etc
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    (Original post by Chirag_95)
    Can someone help me with the structure of this essay question. Its from June 2011 paper and is 2b:

    To what extent is reducing the number of people living in absolute poverty
    sufficient to achieve economic development? (30 marks)

    I know kind of what its asking: by reducing the people in absolute poverty, is economic development achieved? but I found it really hard to think of points and when I looked at the mark scheme there were only 3 points about what I said above (That reducing absolute poverty does achieve econ development) which I thought was KAA points and it showed in the markscheme 9 points about why reducing the number of people in absolute poverty is NOT sufficient to achieve economic development (which i thought would be Eval points). And the actual evaluation points on the mark scheme are just random points not like an argument. Can someone help explain this to me? Like the structure and how the points should be set out?

    Thanks and sorry for the long post.

    P.S I know it was posted before but if anyone does know what the blue text in the mark scheme means that would be useful to know.
    Im pretty sure that it doesn't matter which way round you argue your point as long as you get a supported argument and evaluation in as the other side of the argument.

    I think when answering any question on Development you should base it around the 3 components of the HDI.

    So reducing the amount of people living in absolute poverty may increase life expectancy at birth as people will be able to live longer with the increase in their income because of being able to afford basic needs like food, shelter and clean water etc. However you may suggest that although consumers now have incomes of above £1.25 (absolute poverty line set by the world bank) they still will not be able to afford all of the basic necessities, especially not expensive medicines etc.

    Reducing the level of people living in absolute poverty may also increase the average years of schooling as more families can afford schooling for there children and can survive without sending them to work in order to earn a small income for the family. I would struggle to evaluate this point directly however so may use a generic "absolute poverty may not be a sufficient measure as it is too generalised etc".

    Increasing incomes will also improve the final component of HDI; GDP at purchasing power parity, because people will have more income and therefore consume more leading to a shift outwards of AD and also a positive multiplier effect. You could evaluate this point however with the theory of worsening hyperinflation in a county like Nigeria as an increase in consumption is likely to contribute to this.

    I guess you could also talk about a possibility of an decreased savings gap leading to a greater capital accumulation in the future, further improving development, however thats relatively unlikely considering these consumers are still on very low incomes and will most likely still have a very high marginal propensity to consume.

    In terms of the blue text, I'm guessing maybe its an answer that needs to be applied or maybe its QWC.

    Hope that helps..
 
 
 
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