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    Analyse how ERM II prepares countries for their adoption of the Euro (6)
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    (Original post by KaranbirBandesha)
    I really think the 20 marker is going to be on sustainable development indicators as it fits so well with the last extract
    What do u mean by sustainable development 'indicators' ?


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    Is everyone learning/ has everyone learned the role of the IMF and World Bank as a possible 4 mark question?
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    (Original post by student_o201)
    Could any one help me with the benefits and disadvantages of during the EU not the euro zoneeuro zone
    Benefits:
    Removal of barriers to trade
    EU regulation, for example on the financial sector, promotes responsible government policy.
    Free movement of labour

    Drawbacks:
    Have to bail out other countries.
    Decisions made in EU interest and a particular country may lose out.
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    I have just learnt how it was formed following the bretton woods conference thing and how it gives out loans with low/no interest rates and is development focused

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    (Original post by paramountor)
    Is everyone learning/ has everyone learned the role of the IMF and World Bank as a possible 4 mark question?
    Yes, just in case. My College put it as a question on the mock. They think it is a likely 4 marker. It really doesn't take long to learn it compared to some stuff, every potential mark counts.

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    (Original post by MalteseMalteser)
    Here you go

    Sustainable Development Indicators Pros and Cons
    Sustainable Estonia 21:
    Pros:
    •Very detailed – can pinpoint exactly where development is needed with 78 indicators.
    •Links in with EU’s Sustainable Development Strategy – things such as the viable cultural space and social inclusion are linked, so national target setting is integrated into regional target setting. Teaching Estonian ancestry and heritage would bring the society closer together and could make them more happy as a labour force under a common identity.
    •Climate change and clean energy – shows non-economic development indicators that helps the environment by becoming more sustainable due to using greener forms of energy.

    Cons:
    •Too detailed – maybe there are too many areas to develop, meaning that development might not be sustainable in the long run.
    •Teaching Estonian culture – might be seen as a bad thing because Estonia vows for a ‘viable cultural space’. In teaching Estonians about their past traditions and culture, it might lead immigrants who aren’t of Estonian origin (like the large number of Russian immigrants) to feel isolated and ignored, leading to conflict and tension and therefore opposing a ‘viable cultural space’.
    •Targets without policy – targets are good as long as government policy meets the target. If the government policy does not meet the target then the development is not good.

    Human Development Index (HDI):
    Pros:
    •Focuses on sustainable development rather than economic growth.
    •Shows how differing country policies affect HDI – countries with the same GDP per capita could have varying HDI levels.
    •Takes into account the standard of living – different countries will have their HDI measurement affected due to varying GDP levels, so the indicator is adjusted to take this into account.

    Cons:
    •Only focuses on three aspects of development and therefore doesn’t give a full picture of development in that country.
    •No economic or social justification to the weighing of the components – different weightings of the components will lead to different HDI measurements and how HDI changes over time.
    •Opportunity cost – in order to promote sustainable development in one area, there will be an opportunity cost of the resources in another indicator. E.g. Estonian development in schools for better education could mean that there is less spending on Estonian hospitals, meaning that the general health of the population is not improved.
    •Doesn’t indicate the quality of the non-economic factors – better quality of healthcare and schooling will obviously lead to better development in the long term, but HDI doesn’t account for this and only tells of how much development there is.

    Index of Sustainable Economic Welfare (ISEW):
    Pros:
    •Takes into account the extent of externalities and subtracts it to make sure a purer figure is reached.
    •Adds measurements that include the quality of life
    •Reduces anything that results in a poorer standard of living

    Cons:
    •Choice of component – selects specific things which might not change the indicator a lot, or might leave out other useful indicators.
    •Weighting given – the weighting of one indicator/component might be more than another indicator/component and therefore different weightings produce different outcomes.
    •Monetary values placed on components – difficult to put a monetary value on an externality because the true cost of the externality is not always known.
    Thank you so much; I really appreciate this - good luck for your exam!

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    (Original post by mrsmeagol)
    Analyse how ERM II prepares countries for their adoption of the Euro (6)
    I would like some insight into this as well. Can only think of convergence, and confidence from markets.
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    (Original post by zubhav)
    What do u mean by sustainable development 'indicators' ?


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    Someone just posted them now, the HDI the ISEW stuff like that
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    (Original post by will2348)
    Yes, just in case. My College put it as a question on the mock. They think it is a likely 4 marker. It really doesn't take long to learn it compared to some stuff, every potential mark counts.

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    What could the question be though?
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    (Original post by KaranbirBandesha)
    Thankyou so much that has really helped!
    No problemo!

    (Original post by will2348)
    Thank you so much; I really appreciate this - good luck for your exam!

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    No worries about it - thanks, I'll need all the luck I can get because I have a politics exam tomorrow morning, and then this economics exam in the afternoon!
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    Discuss the extent to which economic growth is a suitable indicator for Sustainable Development?
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    I'm gonna leave this thread alone now, it's just making me worried about what could come up that I haven't revised. I'm sure some people are going into far too much detail as well. Better safe than sorry, I suppose.
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    I said to myself last night that I wouldn't touch this thread so I could knuckle down and do hardcore revision, but actually I'm finding this thread very helpful with my revision for things such as analysis and evaluation etc.

    Where do trade creation and trade diversion come into this module though? I thought it was under the benefits of joining the EU as it is a FTA?
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    (Original post by paramountor)
    What could the question be though?
    Explain the role of the IMF. Just say four points about it.

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    [QUOTE=ajizzle23;42943564]
    (Original post by KaranbirBandesha)
    maybe cause of bad education and no skills?[/QUOTE

    One possibility is the large income inequality between Tallinn and other less developed/rural areas, thus these people may find it difficult to enter the labor force (occupational/geographical immobility) you could also bring the argument of relative poverty with your answer.

    hope that helps
    Could you say capital flight was also a reason for high unemployment? as FDI leaving the economy may cause structural unemployment which takes time to reduce (education and training)
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    (Original post by j1i9s9s5)
    I'm gonna leave this thread alone now, it's just making me worried about what could come up that I haven't revised. I'm sure some people are going into far too much detail as well. Better safe than sorry, I suppose.
    AMEN.


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    (Original post by Robb_D)
    Intro: define sustainability and development. Points that Estonia has progressed: Good infrastructure (increased productivity), well educated and trained labour force, spending on innovation Points that they have not progressed: inefficient use of non-renewable resources, social and economic differences between Tallin and other regions of Estonia (lack of social cohesion) (and can use a Lorenz curve here), one of the lowest rating EU states for health. Conclusion: your judgement Hope this helps
    Yeah it does help, but would you talk about policies that may help with sustainable development saying something like Estonia could push even more towards sustainability and mention things such as progressive tax, supply-side growth and taxing fossil fuels?:confused:
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    Thank god the papers in the afternoon!
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    (Original post by ikn0ican)
    Quick Question: why is solving income inequality (e.g. in terms of having a progressive tax) a sustainable policy?
    income inequality may lead to the breakdown of society(lower income earners may turn against higher income earners) and reduces social capital which needs to be preserved for future generations to inherit. Income inequality may also mean that standards of living of certain groups in society may fall and may not be able to afford healthcare or education (increasing the stock of human capital)

    Progressive taxation would reduce this inequality and improve social capital. However, it depends if the income is redistributed from rich to poor
 
 
 
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