Edexcel A2 Economics Unit 4 6EC04 (June 19th 2015) "The Global Economy" Exam Thread

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Dylann
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#1
Update from Dylann (August 21st 2015)
Hey everyone! Last week I got my results and I'm very happy that I got an A* . If you're reading this you're probably going to be taking the 2016 exams, in which case this thread can still be quite useful (though someone should probably make a 2016 thread to avoid confusion). There might be some resources you'll find scattered throughout this thread (some might even be attached to this post). I have my own google drive which has some notes and stuff on it, you can access that here: https://drive.google.com/folderview?...Ek&usp=sharing
Thanks to everyone who was in my Whatsapp group, especially those who helped contribute to the google drive.
I also used Anki for some of my economics revision, if you would like my anki notes then please private message me (anki is a flashcard app).

If anyone's interested, my breakdown of marks were:
Unit 1: 93/100
Unit 2: 100/100
Unit 3: 69/80 (lost more UMS in this unit that I did overall in AS lol)
Unit 4: 115/120
=377/400
Edexcel A2 Unit 4 "The Global Economy"


Okay guys, so this is a big exam (60% of A2 and 30% overall)...2 hours long too! But together we will help each other get 120/120 UMS Post questions, revision techniques, exam preparation etc below!

Unit 3 thread here: http://www.thestudentroom.co.uk/show....php?t=3154347

Here is the very important specification, linked directly to the knowledge you need for Unit 4!

---> http://qualifications.pearson.com/co..._5.pdf#page=48 <---

Revision resources (please quote me if there are any I haven't listed!):

PajHolden on YouTube: https://www.youtube.com/user/pajholden

EconplusDal on Youtube: https://www.youtube.com/user/EconplusDal/videos

Tutor2u, a good revision website: http://www.tutor2u.net/economics/revision-notes/

PetraGrade, a new website created by user BC95 http://www.petragrade.com/
(here's the thread about the website)

Office for Budget Responsibility, a brief guide to UK Public Finance - excellent summary of public finance in the UK (it's up to date, AND it was recommended in last year's examiners report) http://budgetresponsibility.org.uk/w...e-Mar15EFO.pdf

Global Competitiveness Index - good infographics about global competitiveness http://www.weforum.org/reports/globa...port-2014-2015

UK Economy data 2015 - http://www.docdroid.net/119iz/uk-economy-2015.pdf.html

[UPDATE, May 2015]: Hey guys, I've made a WhatsApp revision group chat for Economics (all exam boards, both AS and A2). You can post questions, ask for explanations or help others if they are stuck. We have a few members already and it's been great, we've helped each other and improved our own understanding of content. Plus we share ideas on how essays could be structured and exam technique etc. We just need more people to make it even more effective - simply PM me your number and I'll add you UPDATE AUGUST 2015: NEITHER THE WHATSAPP GROUP CHAT OR SKYPE SESSIONS ARE CARRYING ON, I AM GOING TO UNIVERSITY TO DO CHEMISTRY LOL (don't message me about them!)
Thanks to Toddmcnugget for these attachments
Attached files
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Dylann
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Unit 4 Grade Boundaries: (100 raw marks available)


Constant UMS grade boundaries
120/120 = Full UMS
108/120 = A*
96/120 = A
84/120 = B
72/120 = C
60/120 = D
48/120 = E

In the following table, numbers are the raw marks required and they are out of 100. The "120 UMS" column is the raw mark needed for 120/120 UMS.

Name:  unit 4 gb.png
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It looks like June 2011 was the toughest paper...
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Senll
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Is 87 a raw mark or a UMS? I am confused. Do you need 79/100 to get A* or 79 UMS?
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Dylann
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(Original post by Senll)
Is 87 a raw mark or a UMS? I am confused. Do you need 79/100 to get A* or 79 UMS?
UMS is constant, so 108/120 (90%) is an A*. 87/100 raw marks was equal to 120/120 UMS last year. So 79/100 was needed for an A*. I might make that table a little bit clearer, sorry.
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Senll
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Woah, I see I never thought you could get a full UMS by only getting something like 87/100 I thought you would need something like 100/100. It's fine, thanks for letting me know. I need to revise harder and get that 79/100.
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lilixxx1000
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I'm doing this exam in summer as well! Have the mock for it tomorrow...kill me I have actually done no revision for it as I've been focussing on my other subjects.
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Dylann
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(Original post by lilixxx1000)
I'm doing this exam in summer as well! Have the mock for it tomorrow...kill me I have actually done no revision for it as I've been focussing on my other subjects.
How was the mock?

We're going really slowly through Unit 4...I feel like there's a huge opportunity cost incurred during lessons lol. I haven't really done any revision for either U3/4 so I've been doing not so well in mocks and homeworks. Hopefully I'll be able to pull it off like last year with short-term intense revision closer to exams (though I think U4 will require more time). I want to finish learning content before I start revising (looks like we won't be finished by easter either :rolleyes:)

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lilixxx1000
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(Original post by Dylann)
How was the mock?

We're going really slowly through Unit 4...I feel like there's a huge opportunity cost incurred during lessons lol. I haven't really done any revision for either U3/4 so I've been doing not so well in mocks and homeworks. Hopefully I'll be able to pull it off like last year with short-term intense revision closer to exams (though I think U4 will require more time). I want to finish learning content before I start revising (looks like we won't be finished by easter either :rolleyes:)

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The mock was ok actually! Surprisingly it wasn't nearly as bad as I thought Tbh I don't really care about econ because I don't have an offer based on it, so I really just need to focus on my other subjects. Hopefully we'll be done with the syllabus by Easter but I don't know if that's going to happen.
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Dylann
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Also guys I want to do some A* Skype revision sessions closer to the exam time...I did it last year and it really (REALLY) helped. Essentially, we will go over the specification and ask each other questions, go over definitions and discuss exam techniques etc...last year we did it for a few hours at a time (with breaks now and then). They say you remember 90% of what you teach others...and by joining our Skype conversation you are almost guaranteed high marks! (We're friendly too and you can leave whenever you want to...and we won't intimidate or pressure anyone or anything! )

However, since we'd be going for the highest marks I'd hope you were aiming for an A* (or an A I guess) too. Therefore, it would be beneficial if you were at least somewhat confident with most/all topics of whichever unit we would be focusing on...so it'd be a good idea to revise yourself and then come and join the chat to see if you've understood it all

PM me if you'll be interested! We won't start until April/May though

[UPDATE, May 2015]: Hey guys, I've made a WhatsApp revision group chat for Economics (all exam boards, both AS and A2). You can post questions, ask for explanations or help others if they are stuck. We have a few members already and it's been great, we've helped each other and improved our own understanding of content. Plus we share ideas on how essays could be structured and exam technique etc. We just need more people to make it even more effective - simply PM me your number and I'll add you

UPDATE AUGUST 2015: NEITHER THE WHATSAPP GROUP CHAT OR SKYPE SESSIONS ARE CARRYING ON, I AM GOING TO UNIVERSITY TO DO CHEMISTRY LOL (don't message me about them!)
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Bustamove
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#10
I've just started revising unit 4 economics... Theres sooo much content in A2..... I'm so glad I found this thread, Im on a gap year and doing it on my own. I think you also made one for unit 2 last year? can't remember but if you did, thanks LOL, It really did help me get that A XD
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FLN786
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Does anyone have any 20 and 30 mark essay examples or templates?

E.g Definintion

4 points

4 evaluation
Worthy of achieving full marks?
Worth of achieve
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Dacia Lilac
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(Original post by FLN786)
Does anyone have any 20 and 30 mark essay examples or templates?

E.g Definintion

4 points

4 evaluation
Worthy of achieving full marks?
Worth of achieve
----------------------------------------------------------------------------------------------------------------------
Hi everyone..Where are the threads for 6ECO1 & 6ECO2?
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ButterflyGirl97
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(Original post by Dylann)
Also guys I want to do some A* Skype revision sessions closer to the exam time...I did it last year and it really (REALLY) helped. Essentially, we will go over the specification and ask each other questions, go over definitions and discuss exam techniques etc...last year we did it for a few hours at a time (with breaks now and then). They say you remember 90% of what you teach others...and by joining our Skype conversation you are almost guaranteed high marks! (We're friendly too and you can leave whenever you want to...and we won't intimidate or pressure anyone or anything! )

However, since we'd be going for the highest marks I'd hope you were aiming for an A* (or an A I guess) too. Therefore, it would be beneficial if you were at least somewhat confident with most/all topics of whichever unit we would be focusing on...so it'd be a good idea to revise yourself and then come and join the chat to see if you've understood it all

PM me if you'll be interested! We won't start until April/May though
I'll join I'll join I'll join! Really need to do well in this exam because it counts for so much of the overall grade
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Haleyparker
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#14
(Original post by ButterflyGirl97)
I'll join I'll join I'll join! Really need to do well in this exam because it counts for so much of the overall grade

same join me in to
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Turtlefushsia
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#15
I have a question

Why does a country want to attract hot money to finance a current account deficit when surely this will cause the exchange rate to appreciate, making exports less competitive and hence worsening the current account deficit!

any thoughts? Or answers?
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username1484683
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(Original post by Dylann)
Also guys I want to do some A* Skype revision sessions closer to the exam time...I did it last year and it really (REALLY) helped. Essentially, we will go over the specification and ask each other questions, go over definitions and discuss exam techniques etc...last year we did it for a few hours at a time (with breaks now and then). They say you remember 90% of what you teach others...and by joining our Skype conversation you are almost guaranteed high marks! (We're friendly too and you can leave whenever you want to...and we won't intimidate or pressure anyone or anything! )

However, since we'd be going for the highest marks I'd hope you were aiming for an A* (or an A I guess) too. Therefore, it would be beneficial if you were at least somewhat confident with most/all topics of whichever unit we would be focusing on...so it'd be a good idea to revise yourself and then come and join the chat to see if you've understood it all

PM me if you'll be interested! We won't start until April/May though
Count me in
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Naomi12
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(Original post by Dylann)
Also guys I want to do some A* Skype revision sessions closer to the exam time...I did it last year and it really (REALLY) helped. Essentially, we will go over the specification and ask each other questions, go over definitions and discuss exam techniques etc...last year we did it for a few hours at a time (with breaks now and then). They say you remember 90% of what you teach others...and by joining our Skype conversation you are almost guaranteed high marks! (We're friendly too and you can leave whenever you want to...and we won't intimidate or pressure anyone or anything! )

However, since we'd be going for the highest marks I'd hope you were aiming for an A* (or an A I guess) too. Therefore, it would be beneficial if you were at least somewhat confident with most/all topics of whichever unit we would be focusing on...so it'd be a good idea to revise yourself and then come and join the chat to see if you've understood it all

PM me if you'll be interested! We won't start until April/May though
I'd be up for that too, I only need an A for uni, but for my personal pride I'm desperate for the A*!

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Turtlefushsia
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#18
Hey!

is is the euro a fixed or floating exchange rate. I'm a little confused by this. Is it fixed against other euro countries but floating against the pound because?

thanks in advance


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Naomi12
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(Original post by Turtlefushsia)
Hey!

is is the euro a fixed or floating exchange rate. I'm a little confused by this. Is it fixed against other euro countries but floating against the pound because?

thanks in advance


Hiya, it can't be fixed against other euro countries because all the euro countries have the same euro, thus the same monetary policy. The euro is a floating exchange rate so there is very less government intervention used to determine its value.

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Dylann
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#20
(Original post by Turtlefushsia)
I have a question

Why does a country want to attract hot money to finance a current account deficit when surely this will cause the exchange rate to appreciate, making exports less competitive and hence worsening the current account deficit!

any thoughts? Or answers?
I haven't started any econ revision but are you sure a country would finance a CAD via hot money? I think what you think!

However, hot money means high interest rates which means people would be saving money rather than spending....this is the only reason I could see which would reduce imports!

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