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Business Unit 6 - BUS6
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It's risky but I'm gonna go for it. Our teacher was awful through A2 we didn't do much work coz there was no lesson plans and always went way off topic when discussing things. I don't need an A so I'm going for a B which should still be difficult.
gibson79
I reckon the evaluation bit will be the problem again, so we should have some discussions on that. Apart from that, we're expected to add relevant "examples from current affairs" to the Section A answers. So reading up some stuff from The Economist would be helpful.
reading the economist for real -i thought thats just somin you say on yr PS 
, didnt think anyone actually does thatoh well i guess ill watch newsnight then , that is normally gd for current affairs (but abit too political
)Except I've found the Economist to be too political for economics If you read the articles by David Smith in the Sunday Times Business each week, you should be fine, as he does alot of economics analysis on whatever is current at the time. It might be a little late to start reading that now though. Also read economics Review and Economics Today. They have plenty of A level articles relevant to the syllabus 
If you read the articles by David Smith in the Sunday Times Business each week, you should be fine, as he does alot of economics analysis on whatever is current at the time. It might be a little late to start reading that now though. Also read economics Review and Economics Today. They have plenty of A level articles relevant to the syllabus Nellz
Except I've found the Economist to be too political for economics If you read the articles by David Smith in the Sunday Times Business each week, you should be fine, as he does alot of economics analysis on whatever is current at the time. It might be a little late to start reading that now though. Also read economics Review and Economics Today. They have plenty of A level articles relevant to the syllabus
If you read the articles by David Smith in the Sunday Times Business each week, you should be fine, as he does alot of economics analysis on whatever is current at the time. It might be a little late to start reading that now though. Also read economics Review and Economics Today. They have plenty of A level articles relevant to the syllabus i think as you said "It might be a little late to start reading"
i better just learn the content for now
ok, well somebody mentioned evaluation, well fiost of all you have to realise the weighting of evaluation for this unit is only 30% (as taken from the Edexcel revision guide for this year) so you don't have to go all out on evaluation (not like unit 5!). Also, u get different amounts of points for different evaluation points, basic AS ones will get you less than the A2 stuff generally, but you should get maximum
well lets start of with the basci A/S stuff?
1. size matters - always look for the size of the problem or the solution you propose. for example, the fiscal defecit is only a problem if it is large (and may hinder our chances of joining the euro if it goes obeyond 3% as is limited by the European Stability and Growth Pact). Also, if oil prices increase, AS shifts left, which causes inflation and a loss in output, right? but the SIZE OF THE INCREASE matters!
2. Time Lags - every policy decision made will have some sort of lag before the economy responds. some things will take longer than others; for example, hot money flows will recognise a higher interest raet very quickly, but improving education will take a long time to have an effect (as the schooling system in this country takes just under two decades to complete)
3. Relative importance - well, i don't fully understand why this is evaluation, it doesnt take much thinking or anything, but just saying which of the factors you mention are most important will score you evaluation marks. EASY :-)
4. Policy effectiveness - well, you always have to look at one question from different approaches. for the bigger mark questions you might b asked of ways that (for example) fiscal policy will help raise the level of Real Output. You can gain full marks reciting fiscal policy and appyling it effectively, but putting foreward the idea of (for exaple) lowering interest rates to increase AD and increase real output will score evaluation marks.
ok, now for the harder stuff - good old A2 evaluation!
1. Conflicting objectives - a part of the syllabus is having some knowledge of how the macroeconomic objectives are sometimes in conflict. the phillips curve is a prime explample of this - a tradeoff between inflation and unemployment. also, one that you might find usefull is taxation - there is sometimes a tradeoff between equity and efficiency. for example indirect taxation is the most efficient (as it does not decrease incentives) but it hits the poorer sections of society the most.
2. Compliance with EU - theres many laws for the EU, mainly you would only have to be able to evaluate whether we meet the guidelines of the ESG pact (maximum of 3% of GDP fiscal deficit, maximum national debt of 60% of GDP); but it would be good if you could evaluate whether the economy is on track to passing the 5 economics tests for adopting the euro (especially if we get a question on the euro in section A).
3. Ethical Issues - this is always good, a leaping example would be one i already used - that of indirect taxation being REGRESSIVE. this raises ethical issues as a good tax system redistributes incomes well (is that not the whole point of welfare payments?). also could talk about negative externalities here :-)
4. Longer Term consequences - you coul dtalk of the long term effect of any change in policy, for example will cutting benefits improve incentives or will more people die in the long run due to lack of disposable income? will also, privatisation of healthcare be good in the long run (does anyone know the consumers' long term needs better than the consumers themselves?)
finally, remember, DO NOT LIMIT YOURSELF to these points. i jus thought of these off the top of my head while i was talking to my girlfriend, I'm sure you can think of things during the exam. it's always good to make the evaluation specific to the question! these points, however, should get anyone through any unit 6 exam! enjoy! and good luck with the exam, everyone!
well lets start of with the basci A/S stuff?
1. size matters - always look for the size of the problem or the solution you propose. for example, the fiscal defecit is only a problem if it is large (and may hinder our chances of joining the euro if it goes obeyond 3% as is limited by the European Stability and Growth Pact). Also, if oil prices increase, AS shifts left, which causes inflation and a loss in output, right? but the SIZE OF THE INCREASE matters!
2. Time Lags - every policy decision made will have some sort of lag before the economy responds. some things will take longer than others; for example, hot money flows will recognise a higher interest raet very quickly, but improving education will take a long time to have an effect (as the schooling system in this country takes just under two decades to complete)
3. Relative importance - well, i don't fully understand why this is evaluation, it doesnt take much thinking or anything, but just saying which of the factors you mention are most important will score you evaluation marks. EASY :-)
4. Policy effectiveness - well, you always have to look at one question from different approaches. for the bigger mark questions you might b asked of ways that (for example) fiscal policy will help raise the level of Real Output. You can gain full marks reciting fiscal policy and appyling it effectively, but putting foreward the idea of (for exaple) lowering interest rates to increase AD and increase real output will score evaluation marks.
ok, now for the harder stuff - good old A2 evaluation!
1. Conflicting objectives - a part of the syllabus is having some knowledge of how the macroeconomic objectives are sometimes in conflict. the phillips curve is a prime explample of this - a tradeoff between inflation and unemployment. also, one that you might find usefull is taxation - there is sometimes a tradeoff between equity and efficiency. for example indirect taxation is the most efficient (as it does not decrease incentives) but it hits the poorer sections of society the most.
2. Compliance with EU - theres many laws for the EU, mainly you would only have to be able to evaluate whether we meet the guidelines of the ESG pact (maximum of 3% of GDP fiscal deficit, maximum national debt of 60% of GDP); but it would be good if you could evaluate whether the economy is on track to passing the 5 economics tests for adopting the euro (especially if we get a question on the euro in section A).
3. Ethical Issues - this is always good, a leaping example would be one i already used - that of indirect taxation being REGRESSIVE. this raises ethical issues as a good tax system redistributes incomes well (is that not the whole point of welfare payments?). also could talk about negative externalities here :-)
4. Longer Term consequences - you coul dtalk of the long term effect of any change in policy, for example will cutting benefits improve incentives or will more people die in the long run due to lack of disposable income? will also, privatisation of healthcare be good in the long run (does anyone know the consumers' long term needs better than the consumers themselves?)
finally, remember, DO NOT LIMIT YOURSELF to these points. i jus thought of these off the top of my head while i was talking to my girlfriend, I'm sure you can think of things during the exam. it's always good to make the evaluation specific to the question! these points, however, should get anyone through any unit 6 exam! enjoy! and good luck with the exam, everyone!
ma teacher has given us some Qs to do.
he always gives us Qs that might come up and it actually workeed in unit 4 ..so i think it might work in 6 as well
Fly-U There PLC
1- Assess the impact of the implementation of the new Fly-U-There plc base in Eastern on staff moral, motivation and the future success of Fly-U-There plc in the current uncertain market conditions that prevail. (40 marks)
2- Recommend whether Daniel Thompson’s strategic plan of establishing a base in Eastern Europe should be undertaken by Fly-U-There plc. Justify you recommendation. (40 marks).
3- Assess ways that Fly-U-There plc might respond to the aggressive competition that it is now facing from major airlines in the “no frills” sector. (40 marks)
4- Evaluate Arshad Khan’s diversification options and recommend to Daniel Thompson a strategy for the implementation of one option as an alternative to the establishment of a base in Eastern Europe. (40 marks)
5- Assess ways that Fly-U-There plc could overcome any problems which the alternative expansion options might create within the areas of human resource management and cooperate culture. (40 marks)
it will be a very good idea to answer them and just discuss them
he always gives us Qs that might come up and it actually workeed in unit 4 ..so i think it might work in 6 as well
Fly-U There PLC
1- Assess the impact of the implementation of the new Fly-U-There plc base in Eastern on staff moral, motivation and the future success of Fly-U-There plc in the current uncertain market conditions that prevail. (40 marks)
2- Recommend whether Daniel Thompson’s strategic plan of establishing a base in Eastern Europe should be undertaken by Fly-U-There plc. Justify you recommendation. (40 marks).
3- Assess ways that Fly-U-There plc might respond to the aggressive competition that it is now facing from major airlines in the “no frills” sector. (40 marks)
4- Evaluate Arshad Khan’s diversification options and recommend to Daniel Thompson a strategy for the implementation of one option as an alternative to the establishment of a base in Eastern Europe. (40 marks)
5- Assess ways that Fly-U-There plc could overcome any problems which the alternative expansion options might create within the areas of human resource management and cooperate culture. (40 marks)
it will be a very good idea to answer them and just discuss them
Technique is more important than knowledge in unit6 IMHO. The actual content of unit6 isn't much of a challenge (heck there really isn't that much that hasn't been covered in the previous 5 units) its just the same stuff with more depth...
Good techniques I can think of is get used to the number of evaluation marks out of the total marks for each ques. Then just remember when you get into the exam, define, standard economic analysis (should be a breeze by now) and then do the 'however/but' (evaluation)
Also good point to remember all the evaluation points which don't require any thinking...
e.g.
-Analysis of signficance of various things you mentioned (pretty much always relevant)
-Mentioning of time lags (again, nearly always relevant)
-Short term vs. Long term benefit/cost
There are lots more but I can't pull them out of my head because I'm revising biology, but the point is, just remember the evaluative points that ALWAYS work for nearly EVERY ques...and you're set
Good techniques I can think of is get used to the number of evaluation marks out of the total marks for each ques. Then just remember when you get into the exam, define, standard economic analysis (should be a breeze by now) and then do the 'however/but' (evaluation)
Also good point to remember all the evaluation points which don't require any thinking...
e.g.
-Analysis of signficance of various things you mentioned (pretty much always relevant)
-Mentioning of time lags (again, nearly always relevant)
-Short term vs. Long term benefit/cost
There are lots more but I can't pull them out of my head because I'm revising biology, but the point is, just remember the evaluative points that ALWAYS work for nearly EVERY ques...and you're set
noisy_guy69
ma teacher has given us some Qs to do.
he always gives us Qs that might come up and it actually workeed in unit 4 ..so i think it might work in 6 as well
Fly-U There PLC
1- Assess the impact of the implementation of the new Fly-U-There plc base in Eastern on staff moral, motivation and the future success of Fly-U-There plc in the current uncertain market conditions that prevail. (40 marks)
2- Recommend whether Daniel Thompson’s strategic plan of establishing a base in Eastern Europe should be undertaken by Fly-U-There plc. Justify you recommendation. (40 marks).
3- Assess ways that Fly-U-There plc might respond to the aggressive competition that it is now facing from major airlines in the “no frills” sector. (40 marks)
4- Evaluate Arshad Khan’s diversification options and recommend to Daniel Thompson a strategy for the implementation of one option as an alternative to the establishment of a base in Eastern Europe. (40 marks)
5- Assess ways that Fly-U-There plc could overcome any problems which the alternative expansion options might create within the areas of human resource management and cooperate culture. (40 marks)
it will be a very good idea to answer them and just discuss them
he always gives us Qs that might come up and it actually workeed in unit 4 ..so i think it might work in 6 as well
Fly-U There PLC
1- Assess the impact of the implementation of the new Fly-U-There plc base in Eastern on staff moral, motivation and the future success of Fly-U-There plc in the current uncertain market conditions that prevail. (40 marks)
2- Recommend whether Daniel Thompson’s strategic plan of establishing a base in Eastern Europe should be undertaken by Fly-U-There plc. Justify you recommendation. (40 marks).
3- Assess ways that Fly-U-There plc might respond to the aggressive competition that it is now facing from major airlines in the “no frills” sector. (40 marks)
4- Evaluate Arshad Khan’s diversification options and recommend to Daniel Thompson a strategy for the implementation of one option as an alternative to the establishment of a base in Eastern Europe. (40 marks)
5- Assess ways that Fly-U-There plc could overcome any problems which the alternative expansion options might create within the areas of human resource management and cooperate culture. (40 marks)
it will be a very good idea to answer them and just discuss them
Somehow I don't think this is economics
Its no more complicated than anything else.
Based on a case study, youll have a question on different areas of the subject, such as a decision tree on 1 and then a marketing question on another.
Aslong as you know your definitions, you should be fine.
Remember: Content, Application, Analysis, Evaluation
Based on a case study, youll have a question on different areas of the subject, such as a decision tree on 1 and then a marketing question on another.
Aslong as you know your definitions, you should be fine.
Remember: Content, Application, Analysis, Evaluation
You can easily learn the whole U6 syallabus in an afternoon. Its stupidly short, and uncomplex.
Just make sure you understand the causes and consequences of the different external factors. To get the marks to need to do lots of evaluation, or what I consider to be waffling.
Just make sure you understand the causes and consequences of the different external factors. To get the marks to need to do lots of evaluation, or what I consider to be waffling.
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