A2 Economics - F585 June 2013

Here's some of my notes that I've made - I'm going to do extract 3, 4 and 5 tomorrow; feel free to edit and redistribute - if there's anything I have missed out/not covered in great depth I'd love to know!

I'm feeling rather confident about extract 1 and 2, began doing essays on extract 3 and practicing. By the middle of next week I'm aiming to have all of the extracts under my belt and just keep practicing, updating my knowledge and looking at things further in depth... Here's some sample questions for everyone, I have no markschemes but they're good for practice and I can provide some model answers soon when my teacher gets some back to me that I've done.


Extract 1 & 2
- Distinguish between fixed and floating exchange rate systems (4)
- Distinguish between monetary convergence and fiscal convergence (4)
- Explain what is meant by capital flight (4)
- Analyse the reasons for capital flight (6)
- Analyse the reasons why meeting the convergence criteria is important for countries wishing to join the Eurozone (6)
- Analyse the benefits for CEE countries of FDI (6)
- Analyse how ERM II prepares countries for their adoption of the Euro (6)
- Analyse the benefits of participating in ERM II prior to joining the Eurozone (6)
- Comment on the possible effects of maintaining a fixed exchange rate during an economic recession (10)
- Comment on the advantages to Eurozone countries of adopting the Euro as a single currency (10)
- Comment on the impact of FDI on CEE economies (10)
- Comment on the effectiveness of ERM II as a means of preparing countries for their adoption of the Euro (10)

Extract 3
- Distinguish between growth and development (4)
- With reference to the data in Figure 3.1, comment on the possible effects of a volatile economic cycle (4)
- What is meant by a transition economy? (4)
- Analyse the impact of a high rate of long-term unemployment on a country's growth and development (6)
- Explain two possible reasons for the high rates of inflation in Estonia in 2006-2008 (6)
- Analyse the impact an increase in international trade and FDI will have on economic growth (6)
- Comment on the consequences of the high growth that Estonia experienced between 2000 and 2007 (10)
- Comment on the possible effects of a flat-tax rate system on Estonian growth and development (10)

Extract 4 & 5
- Analyse, using diagrams, the impact of EU's strategy on sustainable production and consumption (4)
- Comment on the policies that might improve ecological balance on the Estonian economy (10)
- Comment on the usefulness of the indicators used by Estonia in its sustainability strategy (10)
- Discuss the usefulness of the EU and Estonia's strategies in promoting sustainability (20)
- Discuss the impact of Estonia's high growth on sustainability (20)
- Discuss the view that sustained growth of GDP per capita will always lead to a rise in welfare & living standards (20)
- Discuss the view that sustainable development in Estonia requires slower economic growth (20)

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Wow your notes are amazing
Thanks alot!
Just wondering if you've completed extract 3,4 and 5

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!

Any chance someone can just quickly help me on this? (Distinguish between monetary convergence and fiscal convergence) Only a 4 mark, but i'm unsure how to define them...

Fiscal Convergence refers to government spending and taxation so this will be issues such as public debt and fiscal deficit as well as bond yields on long-term debt. Monetary convergence refers to issues such as price stability and exchange rates.
Therefore, fiscal convergence is where fiscal deficit is 3% of GDP and public debt 60%. Monetary convergence will be exchange rates being pegged to the Euro for two years and inflation no more than 1.5% above average for three lowest EU states. I think that's right?

I have both the ATP toolkit and Tutor2you toolkit. PM me if you want it. It comes at a very small reasonable fee, of 10 pound each or 15 pound for both. Considering that tutor2you itself was 60 quid plus alone.

Great list btw

Have you made some model answers by any chance??

Im not trying to "steal" your hard work, but I have been working through them and I want to see if I was any close to what you got.

FYI, if anyone on this thread wants an .mp3 of a lesson I went to covering basically everything the exam board can ask on the last question, just holla!