AQA A2 Economics Unit 4 (ECON4) June 23rd OFFICIAL THREAD

Topics i'm going to be revising

A. Economic growth/living standards/and even development (Yes, even for AQA. They can be sneaky)
B. The effectiveness of monetary policy (with contrast to fiscal policy of course)
C. UK's poor performance in export led growth (basically how to improve high tech manufactures)
D. Falling commodity prices/Oil prices globally
E. Chinese slowdown
F. Trade diversion/Protectionism

I have made the decision to not revise the EU in depth. I don't think they will ask us, it's highly topical and also highly political and i think they'll want us to stretch our minds and use economic toolkits rather than copy and pasting infomation we've read in the media.

Again, i won't be revising unemployment, current account deficits, exchange rates etc in huge detail but will of course be ensuring i know the theory.

Hope this helps anyone and good luck

Discuss ways in which government economic policies can be used to try to reconcile conflicts between macroeconomic objectives.

This is a hard question cause all I can think of is supply side policies :\

does anyone have candidate exemplars they can share please i can only find one online

Discuss ways in which government economic policies can be used to try to reconcile conflicts between macroeconomic objectives.

This is a hard question cause all I can think of is supply side policies :\

did this for my mock. theres a lot to talk about but the key focus is the bit at the end where it says 'at the same time'. so you can use analysis of like decreased spending in areas such as welfare benefits or possibly the use of expenditure switching policies which tries to redirect spending to sectors of the economy that needs it, for example our exporting firms who face fierce competition atm. but then you can evaluate by saying if the eu is also decreasing their public sector debt then the uk govt switching policies may be relatively futile as the demand from the eu (our main exporter) will be also reduced, further deteriorating our bofp.
stuff along those lines but you can definitely evaluate with the fact that the eu is decreasing 'at the same time'

Someone clarify the difference between the Eurozone and the Single MArket again? I keep confusing myself

single market = free trade area with no tariffs etc and a common ex tariff on non-member countires

eurozone is a monetary union as well, but not all countries are in the monetary union obvs ££££££

Ooooh, we're currently in the single market right?
yeah eurozone is everyone who has the Euro right?

Yeah we operate in the single market or common market (pretty sure they're the same thing anyway) - but yes everyone who uses the euro is part of the eurozone e.g. greece, spain, france

Pros of Monetary unions are:
- lower transaction costs
- non-fluctuating ex rate
- currency stable against speculation
- increased business confidence
- prices between countries easier to compare and PPP disparity reduced

Cons of monetary union:
- Loss of monetary policy control - the EU use a 'one size fits all' blanket policy when not all countries are in a position for change
- No potential for countries to alter Ex rates in times of need
- Cost of currency conversion is high outside of the union
- Lack of a fiscal union to tie it all up

just incase it comes up however I find this question horrendous and will likely avoid it haha

LOL wouldn't it be funny if they messed with us and nothing on the EU even came up like.. something verrrrrry vague, not even a past question :'(

Im not ready at all.. Gonna be a long night..

Yeah we operate in the single market or common market (pretty sure they're the same thing anyway) - but yes everyone who uses the euro is part of the eurozone e.g. greece, spain, france

Pros of Monetary unions are:
- lower transaction costs
- non-fluctuating ex rate
- currency stable against speculation
- increased business confidence
- prices between countries easier to compare and PPP disparity reduced

Cons of monetary union:
- Loss of monetary policy control - the EU use a 'one size fits all' blanket policy when not all countries are in a position for change
- No potential for countries to alter Ex rates in times of need
- Cost of currency conversion is high outside of the union
- Lack of a fiscal union to tie it all up

just incase it comes up however I find this question horrendous and will likely avoid it haha