ytryity
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These are the predicated questions/topics which is most likey to come up for ECON 4 on tuesday 10th 2014.

Be prepared for questions being more generic and flexible as seen on ECON 3 exam.
Remember these questions were written a year before the exam, think of the UK performance 12 months ago?


Context 1 - Global

Developed vs Developing - MINT Economics and the rise of developing
- Importance of MINT economies towards UK Macro Performance?
Globalisation and trade
Protectionism ( hasnt come up in a very long time )

Context 2 - EU
- A question on the Euro Adv/Dis for UK joining
- A question on free movement e.g. Evalute the view that free movement of labour within the EU is benefical for the UK economy?

It could be a question based on the implications if the UK leaves the EU.
+ Make more trade deals, increase trade, more freedom
- Businesses relocate, CET, loss of jobs, recession SR

SECTION B

Exchange Rate & Improving Growth/BOP
- did low £ work for UK reocvery?
- How can UK improve its strucutural performance to make it more competetive economy?

Effectiveness of Monetary Policy - 5 years in the process of Low IR (meduim term policy)
Impact of low interest rates on UK recovery?
Impact of IR on performance

Fiscal Policy
e.g. Why was budget deficit needed to improve macro-economic performance?
Currently budget deficit is at -£107.4bn (£7.4bn lower then last year)
It could be a simple question on,
Q/) impact of fiscal policy on unemployment or UK performance.

SUPPLY SIDE!
Know your supply side to improve each objective, the use of supply side policies is very popular with AQA, mainly to improve BOP, make sure you know for other objectives!

Few Others

Inflation/Deflation (in particular Japan and return to highest levels of inflation)
Unemployment

Hope it helps, Goodluck to everyone on ECON4 Exam!
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ECBU14
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(Original post by ytryity)
These are the predicated questions/topics which is most likey to come up for ECON 4 on tuesday 10th 2014.

Be prepared for questions being more generic and flexible as seen on ECON 3 exam.
Remember these questions were written a year before the exam, think of the UK performance 12 months ago?


Context 1 - Global

Developed vs Developing - MINT Economics and the rise of developing
- Importance of MINT economies towards UK Macro Performance?
Globalisation and trade
Protectionism ( hasnt come up in a very long time )

Context 2 - EU
- A question on the Euro Adv/Dis for UK joining
- A question on free movement e.g. Evalute the view that free movement of labour within the EU is benefical for the UK economy?

It could be a question based on the implications if the UK leaves the EU.
+ Make more trade deals, increase trade, more freedom
- Businesses relocate, CET, loss of jobs, recession SR

SECTION B

Exchange Rate & Improving Growth/BOP
- did low £ work for UK reocvery?
- How can UK improve its strucutural performance to make it more competetive economy?

Effectiveness of Monetary Policy - 5 years in the process of Low IR (meduim term policy)
Impact of low interest rates on UK recovery?
Impact of IR on performance

Fiscal Policy
e.g. Why was budget deficit needed to improve macro-economic performance?
Currently budget deficit is at -£107.4bn (£7.4bn lower then last year)
It could be a simple question on,
Q/) impact of fiscal policy on unemployment or UK performance.

SUPPLY SIDE!
Know your supply side to improve each objective, the use of supply side policies is very popular with AQA, mainly to improve BOP, make sure you know for other objectives!

Few Others

Inflation/Deflation (in particular Japan and return to highest levels of inflation)
Unemployment

Hope it helps, Goodluck to everyone on ECON4 Exam!
Looks a pretty good estimate.
Fancy throwing out some questions from it and then we can tackle some essay plans?
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itssimplyme
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Would love a question on how growth in country X affects UK macroeconomic performance/living standards!

Not a big fan of Globlalisation though
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ytryity
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For some essay planning, heres few custom questions.
------------------------
MINT

Q) Evaluate the impact of MINT economies such as Mexico will have on UK performance?

Q) Discuss whether developed countries such as the UK should be concered with a significant strengthening of the economic importance of MINT countries in the global economy? Justify your answer

Q) Evaluate the impact of sub Saharan Africa countries such as Mozambique & Zimbabwe on uk trade in goods?


- This question look at how developing countries are exporting raw material, e.g Mozambique export : 62% unwrought aluminum, petroleum oils refined, petroleum gases

Zimbabwe export: 14% nickel mattes, 11% diamonds, cotton, tobacco raw etc..

Will the UK be export dependent on these, these sub-saharan countries have alot of scare resouces, will they expliot their comparative advantage?, export base potential.

If UK relies on them, what about lose of jobs, espically in north. trade deficit worsens.
However we can achieve EOS, lower prices for consumers, lower prices for businesses.

----------------------------

Trade/Protectionism

Q) How can UK reduce its trade deficit in goods and services from MINT economies?

Q) Discuss whether protectionism is nesscary for a developed country such as the UK from emerging and developing markets such as the BRIC & MINT economies?


---------------------

EU

Q) Evaluate the view that EU enlargement has only been benefical to the UK economy?

Q) Discuss the impact it would have on UK performance if the UK left the EU?

Q) Discuss whether the free movement of labour is benefical to the UK performance?


Some good EU notes: http://econ.economicshelp.org/

------------------------

Hope it helps.
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ECBU14
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(Original post by ytryity)
For some essay planning, heres few custom questions.
------------------------
MINT

Q) Evaluate the impact of MINT economies such as Mexico will have on UK performance?

Q) Discuss whether developed countries such as the UK should be concered with a significant strengthening of the economic importance of MINT countries in the global economy? Justify your answer

Q) Evaluate the impact of sub Saharan Africa countries such as Mozambique & Zimbabwe on uk trade in goods?


- This question look at how developing countries are exporting raw material, e.g Mozambique export : 62% unwrought aluminum, petroleum oils refined, petroleum gases

Zimbabwe export: 14% nickel mattes, 11% diamonds, cotton, tobacco raw etc..

Will the UK be export dependent on these, these sub-saharan countries have alot of scare resouces, will they expliot their comparative advantage?, export base potential.

If UK relies on them, what about lose of jobs, espically in north. trade deficit worsens.
However we can achieve EOS, lower prices for consumers, lower prices for businesses.

----------------------------

Trade/Protectionism

Q) How can UK reduce its trade deficit in goods and services from MINT economies?

Q) Discuss whether protectionism is nesscary for a developed country such as the UK from emerging and developing markets such as the BRIC & MINT economies?


---------------------

EU

Q) Evaluate the view that EU enlargement has only been benefical to the UK economy?

Q) Discuss the impact it would have on UK performance if the UK left the EU?

Q) Discuss whether the free movement of labour is benefical to the UK performance?


Some good EU notes: http://econ.economicshelp.org/

------------------------

Hope it helps.
Yeah that's very good - shall we go through the questions and try and provide some points on them?

Evaluate the impact of MINT economies such as Mexico will have on UK performance?

- May lead to an increase exports for the UK as raising incomes abroad lead to more demand for imports, which are our exports
- However, due to them being developing they have relatively lower wage costs than the UK, therefore may be more competitive and may lead to a decline the amount of UK exports

Anything else?
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itssimplyme
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(Original post by ECBU14)
Yeah that's very good - shall we go through the questions and try and provide some points on them?

Evaluate the impact of MINT economies such as Mexico will have on UK performance?

- May lead to an increase exports for the UK as raising incomes abroad lead to more demand for imports, which are our exports
- However, due to them being developing they have relatively lower wage costs than the UK, therefore may be more competitive and may lead to a decline the amount of UK exports

Anything else?

- Supply side benefits; Induces investment by UK firms, Mexico may become a source of more affordable raw materials which would help to lower production costs and raise profit margins for UK firms
- UK could begin to face competition in agriculture/manufacturing/service sectors due to lower labour unit costs and a larger supply of labour. Structural unemployment etc etc...
- Evaluation; How long will it take for the benefits to come into play? How big will the benefits actually be? UK performance is more dependent on existing trade links with the EU countries and the US
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ECBU14
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(Original post by itssimplyme)
- Supply side benefits; Induces investment by UK firms, Mexico may become a source of more affordable raw materials which would help to lower production costs and raise profit margins for UK firms
- UK could begin to face competition in agriculture/manufacturing/service sectors due to lower labour unit costs and a larger supply of labour. Structural unemployment etc etc...
- Evaluation; How long will it take for the benefits to come into play? How big will the benefits actually be? UK performance is more dependent on existing trade links with the EU countries and the US
Yeah that's pretty nice.
What about the next question:

Q) Discuss whether developed countries such as the UK should be concered with a significant strengthening of the economic importance of MINT countries in the global economy? Justify your answer


​Same sort of points I'm thinking
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itssimplyme
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(Original post by ECBU14)
Yeah that's pretty nice.
What about the next question:

Q) Discuss whether developed countries such as the UK should be concered with a significant strengthening of the economic importance of MINT countries in the global economy? Justify your answer


​Same sort of points I'm thinking
Yeah, I'd definitely just use the same points, but I'd also compare it to growth in China/USA/EU
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ytryity
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Evaluate the impact of MINT economies such as Mexico will have on UK performance?

- May lead to an increase exports for the UK as raising incomes abroad lead to more demand for imports, which are our exports
- However, due to them being developing they have relatively lower wage costs than the UK, therefore may be more competitive and may lead to a decline the amount of UK exports

Anything else?

Context on Mexico

Rapidly advancing infrastructure and growing middle class
14th biggest economy in the world, set to overtake all but 3 EU countries by 2050

They have higher productivity rates due to low wages, lower T.U power, large labour force. Able to increase productivity, expliot comparative advantage in producing goods cheaper.

Goods from Mexico appear more cheaper to international markets such as the UK and EU, UK demands more goods, increase in trade deficit for UK as its importing. BOP (objective worsens). Export led growth in Mexico results in job loses in the UK as businesses rather import finished goods then produce them in UK. Unemployment increases in UK (objective), also creates negative multipler effect due to UK importing more finished goods it means those in manufactoring, developing, testing, marketting in the UK lose out from the extra demand which further increases cyclical unemployment in the UK

However this depends on the type of goods Mexico produces, it depends on the quality of goods as the UK is an advanced developed economy. They face competetion from other BRIC countries such as China, Brazil, and other MINT countries such as Indonesia, Nigeria and Turkey which is a leading producer in textiles, transportation equipment and construction materials.

On the other hand it depends on UK Exchange rate, if the pound is to low then imports will be expensive, UK imports one-third of goods, this will lead to cost-push inflation, these prices will be passed onto consumers.

In the SR it could lead to outsourcing and increase investment in Mexico as its cheaper to produce, lower tax rates, relaxed environmental laws. Businesses relocate as it drivess down costs and increase profit.
However in the LR it could lead to in-sourcing due to lack of quality provided e.g. call centres which moved to China/India now relocating back in UK due to poor service and resulted in them losing profits.
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TerribleTej
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Should we make a list of one essay per topic? e.g. one essay for inflation, one for deflation etc.... I feel as if this would mean that we could go over all possible scenarios in detail instead of having to simply cram all essays on offer.
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ECBU14
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(Original post by TerribleTej)
Should we make a list of one essay per topic? e.g. one essay for inflation, one for deflation etc.... I feel as if this would mean that we could go over all possible scenarios in detail instead of having to simply cram all essays on offer.
Yeah definitely - have you got a list of all the topics then we can make Qs from that
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itssimplyme
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(Original post by TerribleTej)
Should we make a list of one essay per topic? e.g. one essay for inflation, one for deflation etc.... I feel as if this would mean that we could go over all possible scenarios in detail instead of having to simply cram all essays on offer.
Good idea!
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TerribleTej
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(Original post by ECBU14)
Yeah definitely - have you got a list of all the topics then we can make Qs from that
We could simply use the specification as a list.
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TerribleTej
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I am starting essays tonight so I can start part of the list tonight.
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brilld
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Surely they would ask about the BRICs rather than MINT
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Jophesxi
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(Original post by ytryity)
These are the predicated questions/topics which is most likey to come up for ECON 4 on tuesday 10th 2014.

Be prepared for questions being more generic and flexible as seen on ECON 3 exam.
Remember these questions were written a year before the exam, think of the UK performance 12 months ago?


Context 1 - Global

Developed vs Developing - MINT Economics and the rise of developing
- Importance of MINT economies towards UK Macro Performance?
Globalisation and trade
Protectionism ( hasnt come up in a very long time )

Context 2 - EU
- A question on the Euro Adv/Dis for UK joining
- A question on free movement e.g. Evalute the view that free movement of labour within the EU is benefical for the UK economy?

It could be a question based on the implications if the UK leaves the EU.
+ Make more trade deals, increase trade, more freedom
- Businesses relocate, CET, loss of jobs, recession SR

SECTION B

Exchange Rate & Improving Growth/BOP
- did low £ work for UK reocvery?
- How can UK improve its strucutural performance to make it more competetive economy?

Effectiveness of Monetary Policy - 5 years in the process of Low IR (meduim term policy)
Impact of low interest rates on UK recovery?
Impact of IR on performance

Fiscal Policy
e.g. Why was budget deficit needed to improve macro-economic performance?
Currently budget deficit is at -£107.4bn (£7.4bn lower then last year)
It could be a simple question on,
Q/) impact of fiscal policy on unemployment or UK performance.

SUPPLY SIDE!
Know your supply side to improve each objective, the use of supply side policies is very popular with AQA, mainly to improve BOP, make sure you know for other objectives!

Few Others

Inflation/Deflation (in particular Japan and return to highest levels of inflation)
Unemployment

Hope it helps, Goodluck to everyone on ECON4 Exam!
Those contexts came up very recently, with the EU being last June.
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ytryity
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(Original post by TerribleTej)
Should we make a list of one essay per topic? e.g. one essay for inflation, one for deflation etc.... I feel as if this would mean that we could go over all possible scenarios in detail instead of having to simply cram all essays on offer.
Yes i would deffo, heres a list of topics

Unemployment
Inflation
Deflation
Quantity Theory of Money (money supply)
Fiscial policy ( Government borrowing/ Taxation)
Supply side policy

EU
Globalisation
Free trade
protectionism
exchange rates ( refer to IR, Monetary policy)
balance of payments
economic growth (cycle, causes, policies, sustainablilty)
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ytryity
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(Original post by brilld)
Surely they would ask about the BRICs rather than MINT
They already did a question on the BRIC,

Using the data and your economic knowledge, assess the importance to the UK
economy of continued economic growth in India.

MINT are the "new wave" of developing economies, i would suprised if they dont use that
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A193
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(Original post by ytryity)
These are the predicated questions/topics which is most likey to come up for ECON 4 on tuesday 10th 2014.

Be prepared for questions being more generic and flexible as seen on ECON 3 exam.
Remember these questions were written a year before the exam, think of the UK performance 12 months ago?


Context 1 - Global

Developed vs Developing - MINT Economics and the rise of developing
- Importance of MINT economies towards UK Macro Performance?
Globalisation and trade
Protectionism ( hasnt come up in a very long time )

Context 2 - EU
- A question on the Euro Adv/Dis for UK joining
- A question on free movement e.g. Evalute the view that free movement of labour within the EU is benefical for the UK economy?

It could be a question based on the implications if the UK leaves the EU.
+ Make more trade deals, increase trade, more freedom
- Businesses relocate, CET, loss of jobs, recession SR

SECTION B

Exchange Rate & Improving Growth/BOP
- did low £ work for UK reocvery?
- How can UK improve its strucutural performance to make it more competetive economy?

Effectiveness of Monetary Policy - 5 years in the process of Low IR (meduim term policy)
Impact of low interest rates on UK recovery?
Impact of IR on performance

Fiscal Policy
e.g. Why was budget deficit needed to improve macro-economic performance?
Currently budget deficit is at -£107.4bn (£7.4bn lower then last year)
It could be a simple question on,
Q/) impact of fiscal policy on unemployment or UK performance.

SUPPLY SIDE!
Know your supply side to improve each objective, the use of supply side policies is very popular with AQA, mainly to improve BOP, make sure you know for other objectives!

Few Others

Inflation/Deflation (in particular Japan and return to highest levels of inflation)
Unemployment

Hope it helps, Goodluck to everyone on ECON4 Exam!


Posted from TSR Mobile

- How can UK improve its strucutural performance to make it more competetive economy?

Is this question basically using monetary, fiscal or supply side policies??
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ytryity
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(Original post by A193)
Posted from TSR Mobile

- How can UK improve its strucutural performance to make it more competetive economy?

Is this question basically using monetary, fiscal or supply side policies??
Structural performance is basically making an economy more competetive through the use of supply side policies.

Watch this video clip, very informative and useful for supply side, gives 4 main supply sides.

https://www.youtube.com/watch?v=v9HEm8w5nL8
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