AQA Economics 25th May 2012 Unit 2 Exam

Original post by Ecomax

Here you go

http://www.thestudentroom.co.uk/attachment.php?attachmentid=150181&d=1337646291

bro do we need to know about the different types of inflation such as shoe leather and menu, or does that not form part of the aqa as level spec?

Reply 102

Not following you with the shoe leather and menu :L but yes you will need to have a knowledge of all 3 types, demand pull, cost push and monetary

You will need to know the diagrams aswell

A good 12 mark question would be "explain two types of inflation"

Or ofourse a 25 mark relating to inflation in which you could link both demand side and supply side policies in with demand pull inflation and cost push

Reply 103

A good question for you to revise off of would be

"using the data and your economic knowledge, evaluate the importance of supply side policies in helping to control inflation in the uk"
(may 2011)

If you need help feel free to ask :smile:

Reply 104

OP

Original post by undertaker1

bro do we need to know about the different types of inflation such as shoe leather and menu, or does that not form part of the aqa as level spec?

No but you need to know about demand pull and cost push inflation. However talking about that will not lose you marks it may even gain you a mark or two if incorporated correctly in the essay.

Reply 105

OP

Original post by Ecomax

I have also noticed that many above have been talking about micro economics in a macro essay, I would advise against it .. Unless you are talking about elasticities .. Anything else is irrelevant in macro and will get you no marks

As tehforum said they are not mutually exclusive. There is no harm in talking about it if it relates to the question.
For example when using a PPF diagram and there is a point on the PPF boundary you could talk about pareto efficiency.

Reply 106

ninegrandstudent

Original post by Ecomax

I have also noticed that many above have been talking about micro economics in a macro essay, I would advise against it .. Unless you are talking about elasticities .. Anything else is irrelevant in macro and will get you no marks

Sorry - I think that is wrong. One of the evaluation techniques that has got me loads of marks in the ECON4 questions I've done is referring to micro arguments. By making it clear...e.g " alternatively, from a microeconomic viewpoint' it is a good technique.

Reply 107

undertaker1

Original post by Ecomax

Not following you with the shoe leather and menu :L but yes you will need to have a knowledge of all 3 types, demand pull, cost push and monetary

You will need to know the diagrams aswell

A good 12 mark question would be "explain two types of inflation"

Or ofourse a 25 mark relating to inflation in which you could link both demand side and supply side policies in with demand pull inflation and cost push

whats monetary inflation?

Reply 108

I should have said AS really, I've been told on numerous occasions not to mix the two unless talking about elasticities .. I agree with the PPF you could talk about productive efficiency but I don't think you would really need to, as on a PPF you are mainly either showing an increase in the productive capacity or a decrease (economic growth) or stating that a shift in the PPF increases quality quantity productivity of factors of production,
Go ahead talk about micro in the exam but if you think it's correct to talk about externalities in macro as someone has a few pages back you are duly mistaken .. Macro as you know is the ecomomy as a whole .. Bringing in micro won't help unless like I said you are using elasticities to back up your arguments

Reply 109

OP

Original post by undertaker1

whats monetary inflation?

A sustained increase in money supply.

If you're interested you can look into the quantity theory of money but that's is really A2 so you don't really need to know it.

Reply 110

undertaker1

Original post by . .

A sustained increase in money supply.

If you're interested you can look into the quantity theory of money but that's is really A2 so you don't really need to know it.

such as quantitative easing???

have you got any sample 25 markers which me and others can read???

Reply 111

OP

Original post by Ecomax

I should have said AS really, I've been told on numerous occasions not to mix the two unless talking about elasticities .. I agree with the PPF you could talk about productive efficiency but I don't think you would really need to, as on a PPF you are mainly either showing an increase in the productive capacity or a decrease (economic growth) or stating that a shift in the PPF increases quality quantity productivity of factors of production,
Go ahead talk about micro in the exam but if you think it's correct to talk about externalities in macro as someone has a few pages back you are duly mistaken .. Macro as you know is the ecomomy as a whole .. Bringing in micro won't help unless like I said you are using elasticities to back up your arguments

It all depends on the question.
You could bring in externalities when discussing the reliability of data. So for example national income data doesn't take into account externalities.

Reply 112

OP

Original post by undertaker1

such as quantitative easing???

have you got any sample 25 markers which me and others can read???

Yes. I just had a look at the spec and you only need to know demand pull and cost push inflation. I wouldn't talk about it unless you are absolutely certain you know what you are on about. Nothing worse than trying to show off and then getting something wrong.

I haven't had a look at any past papers I will do that tomorrow. :redface:

(edited 11 years ago)

Reply 113

Inflation caused by use of monetary policy .. Things like quantititive easing mainly or rather an increase in the money supply and it's effects on inflation

I would revise it briefly if I were you, there is not so much on it in the Anderton book .. But tutor2u was always my saviour

Reply 114

Original post by . .

It all depends on the question.
You could bring in externalities when discussing the reliability of data. So for example national income data doesn't take into account externalities.

I get the feeling you're moving into A2 territory ..

I've done most past papers and am well equipped for this exam, I have never seen a question of sort or seen a mark scheme that even mentions externalities .. They exist in individual markets .. Those of merit and demerit goods, at AS we work in theory so we wouldn't be evaluating data anyway

Reply 115

OP

Original post by Ecomax

I get the feeling you're moving into A2 territory ..

I've done most past papers and am well equipped for this exam, I have never seen a question of sort or seen a mark scheme that even mentions externalities .. They exist in individual markets .. Those of merit and demerit goods, at AS we work in theory so we wouldn't be evaluating data anyway

Not really criticising the reliability of data is AS. It is analysis and/or evaluation of any question discussing GDP/GNP/GVA etc...

Reply 116

aliali786

Any predictions what may come up?

Reply 117

aliali786

Do you have any effective structure for 'D' questions and any tips on how to answer 8 mark questions? I NEED HELP PLZ ASAP!

Reply 118

Original post by . .

Not really criticising the reliability of data is AS. It is analysis and/or evaluation of any question discussing GDP/GNP/GVA etc...

I assume you're talking about investment in the accounts ?
Like I said, we do not need to evaluate data only policies ..

Reply 119