AQA A-level Economics new 7136 - 06, 13 & 19 Jun 2017 [Exam Discussion]

If they actually do something sneaky with financial markets imma cry as I made the decision not to go over it

One thing I hope doesn't come up is a context question somewhere along the lines of "Evaluate the usefulness of a fixed exchange rate as opposed to a floating exchange rate"
And then the second context on whether or not it would be beneficial for EU enlargement

If that happens then I've failed hands down

Current account deficit pls come up 🙁

Good luck guys

For the 25 marker on current account deficit reduction policies I completely forgot to talk about supply side policies, i wrote about contractionary fiscal policy (expenditure reducing), devaluation (expenditure reducing) and tariffs. How badly will I get penalised for forgetting supply side?

For the 25 marker on current account deficit reduction policies I completely forgot to talk about supply side policies, i wrote about contractionary fiscal policy (expenditure reducing), devaluation (expenditure reducing) and tariffs. How badly will I get penalised for forgetting supply side?

Did context 2 and essay 2

Okay those 25mks were amazing!!! Context 2 essay 1 is what I did

Did Context 2 and Essay 1. Questions were ok but not sure how I did.

Context 2:
Calculation not a drama.
4 marker on why Japan's economic growth failed to satisfy the macroeconomic objective of 'stable economic growth' when compared to the UK. I talked about how Japan's growth was not always positive and how the range of growth was greater than the UK's range and therefore less stable.
9 marker on how an increase in productivity causes inflation. Went well, defined inflation and did a diagram of LRAS shifting to the right and therefore PL going up.
25 marker on if monetary policy is best for tackling deflation. Talked about reducing interest rates and QE. Diagram of AD shifting to the right and therefore inflation occurring. Then contrasted with Fiscal policy with the example of increasing benefits payments. Talked about how this could also shift AS to the left due to people preferring to be unemployed than work and therefore also counter deflation though there are obvious drawbacks to this.

15 marker on how Gov can reduce natural unemployment. Went fine, talked about how natural unemployment is structural and frictional and talked about direct gov hiring people (military), supply side policies to reeducate structurally unemployed people, cutting taxes on businesses/ having a 'robot tax' to combat automation and improving mobility of labour.

25 marker on tradeoffs between reducing unemployment and other macro objectives. Talked about how cutting corporation tax could cause unemployment to go down but tradeoff with budget deficit (laffer curve to demonstrate point and evaluation). Then talked about tradeoff with inflation (as+as curve) and then finally a tradeoff with positive balance of payments. Bit annoyed I didn't talk about economic growth, equality or the obvious example of using a Phillips curve to demonstrate the relationship of inflation and unemployment. Hopefully three points will be enough.

How did I do?