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    (Original post by physicsamor)
    Holy heeeeeelllll I did not write any of that omg
    I talked about micro finance as a market policy
    Said the affect it would have on quality of life
    Reduce poverty increase access to education increase lr growth blah blah
    But evaluated badly

    Said that protecionism was needed to prevent power of mncs and that goverments had to intervene said something similar but forgot the retaliation point. Talked about goverment failure like it was a micro exam :/

    Talked about privatisation mentioned similar points

    Lol I flopped
    NOO! Micro finance is 100% relevant, Im gutted at myself that I forgot to mention that
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    Who you replying to?
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    (Original post by Sam10711)
    It talked about productivity improving which is a shift in LRAS
    Yh but is linked to SRAS too as productivity means output per worker increasing over time period so more supply
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    I completely messed up realised I spoke about economic growth not development - how many marks do you think I will lose???Possible for me to get Atleast 15 marks??
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    (Original post by amerahussain)
    NOO! Micro finance is 100% relevant, Im gutted at myself that I forgot to mention that
    is it a market policy tho because I said it was looool

    Also saw your post on the 15 marker and I wrote about deindustrilisation too! I think it makes sense
    Talked about our exchange rate and then the eu haha😂
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    (Original post by callumjmoores)
    On the 25 marker on monetary policy in UK and Japan I only briefly spoke about a supply side alternative and didn't mention fiscal policy, how much will i get penalised?
    Supply side deflation is actually good and so doesn't warrant mention, and if you do a few lines would've been fine. Since the essay asked about monetary policy, I'd say not much and nothing will prevent you from getting a level 5 answer so long as your monetary policy analysis and evaluation was good.
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    (Original post by brownboy123)
    are we limited to 16 marks if we dont include 3 points/policies per 25 mark essay? please someone?
    Definitely not on principle- I'd say it's better to fully develop 2 than be brief on 3. For example, the deflation context only lended itself to monetary policy (that was the question), with the option of bringing in fiscal as a comparison. Supply side deflation is a good thing and so doesn't warrant discussion in a question about tackling deflation.
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    (Original post by CameroSJ)
    For the 9 mark on context 2, I shifted LRAS right instead of SRAS. Will I still get max marks for explaining it well?
    An increase in productivity leads to LRAS shifting in the long run.. That isn't wrong
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    (Original post by Madmanecon)
    I shifted SRAS as it was asking about deflation
    The LRAS diagram shows how it exerts deflationary pressures on the economy when it shifts right. It it still deflation
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    (Original post by Sam10711)
    Defined market based strategies

    Talked about trade liberalisation and globalisation and why its good and bad

    Talked about privatisation being good for efficiency but might exploit consumers.

    Talked about maybe protectionism such as tariffs is useful for protecting domestic firms which may help growth more.

    How about you?
    How good do you think my points are?
    So i talked about trade creation and how opening up markets (trade liberalisation) can lead to increased domestic production as india can exploit its comparative advantage in computer services. leading to more jobs etc...

    I talked about privatisation leading to efficiency and i shifted the lras curve to the right. And said how economic growth leads to higher living standards. I evaluated that using the extract which mentioned issues regarding infrastructure and 'doing business'.

    I the did a paragraph on protectionism with tariff diagram etc and said it should be used initially until indian companies can gain economies of scale then removed as other wise mnc's will exploit workers and profits will go overseas(also an issue with tax!)

    I concluded by saying that once infrastructure is successfully developed protectionism should be lifted and markets opened up, therefore indian people are better off as more money stays in the economy.

    I waffled so much and i dont think much of it was relevant tbh....
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    I suggested that while in principle the benign deflation we see from the supply side is good, Japan's inflation rate is already so slow it almost cannot afford to even engage in supply side deflation. I recommended Supply Side polices on the premise that the data showed economic growth was low and injecting some growth through SSPs would be beneficial in the long run just to restart their economy, as with economic growth will eventually come inflation. I think as long as you argued your case for a particular policy it'll be fine.
    (Original post by AzaSad)
    Definitely not on principle- I'd say it's better to fully develop 2 than be brief on 3. For example, the deflation context only lended itself to monetary policy (that was the question), with the option of bringing in fiscal as a comparison. Supply side deflation is a good thing and so doesn't warrant discussion in a question about tackling deflation.
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    (Original post by BintM)
    Current account deficit pls come up 🙁

    Good luck guys
    I could not have been happier to see that 25 marker
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    I also set economics aside and talked about the aging population in Japan and even a declining population meaning there are fewer people in active employment. So i suggested some policies to improve birth rate or supply side policy tax cuts to get people into jobs and restimulate the economy. When it comes down to it they wanted your best evaluation of monetary policy so if you sorted that you can't really go wrong.
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    someone pls reply - I spoke about Econ growth instead of Econ development do you think I can atleast get 15 marks if my points are well explained?
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    (Original post by tamcat)
    someone pls reply - I spoke about Econ growth instead of Econ development do you think I can atleast get 15 marks if my points are well explained?
    Depends how the examiner is feeling tbh. Development is more quality of life kind of stuff where growth is quite economy focussed. I guess they do go hand in hand at times so u might be able to scrape 15/16.
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    Hi would someone mind giving their opinion on how many marks you would think i would get for the context two essay 25 marker on tackling deflation would really help.

    I started off with a few correct definitions and then spoke about the merits of expansionary monetary policy with good analysis using a diagram including interest rates,QE,etc and then evaluated saying Japans economy however has not improved using such measures using the case study figures.Then i said in other developed economies ie.UK exp monetary policy might be howver good for correcting deflation and then evaluated,

    i Know it'd be hard to guess a mark but anyone reckon they could guess what sorta mark i would get considering i wrote 2 pages but didnt mention fiscal policy or conclude. cheers
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    (Original post by archie341)
    I also set economics aside and talked about the aging population in Japan and even a declining population meaning there are fewer people in active employment. So i suggested some policies to improve birth rate or supply side policy tax cuts to get people into jobs and restimulate the economy. When it comes down to it they wanted your best evaluation of monetary policy so if you sorted that you can't really go wrong.
    This.
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    (Original post by Reaver Daniels)
    Does anyone remember the 'Exact' wording of the 15 mark for the current account question on patterns of trade?

    I spoke about the pattern of trade changing when we leave Europe due to a possible removal of the common external tariff, which would mean more trade with the rest of the world. Did loads of decent analysis on that and then did a smaller point about sunset industries e.g. Steel going under to the Chinese competition.


    Posted from TSR Mobile
    This should be fine. I talked about growing competition in china, the UK deindustrialization as it becomes more developed and switches to a services based sector which is in surplus but deficit compared with the trade in goods balance. Talked about political and Brexit uncertainty meaning companies may be less willing to trade with the UK if we lose access to the EU single market and the status of being a 'gateway to Europe'. Also talked about how the UK is quite inefficient compared to places like Germany so this both reduces amounts we can supply and increases the price.
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    (Original post by economics1998)
    Hi would someone mind giving their opinion on how many marks you would think i would get for the context two essay 25 marker on tackling deflation would really help.

    I started off with a few correct definitions and then spoke about the merits of expansionary monetary policy with good analysis using a diagram including interest rates,QE,etc and then evaluated saying Japans economy however has not improved using such measures using the case study figures.Then i said in other developed economies ie.UK exp monetary policy might be howver good for correcting deflation and then evaluated,

    i Know it'd be hard to guess a mark but anyone reckon they could guess what sorta mark i would get considering i wrote 2 pages but didnt mention fiscal policy or conclude. cheers
    No conclusion means no band 5 really. If the 2 pages were really solid anywhere between 16-18 given that u evaluated which they like
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    Think it was 'have' changed or at least it was implied as they gave us historical data and then effectively asked us to explain the change. Don't worry about it tho, imo the same points apply to both possible wordings and using current examples gets you marks anyway!
    (Original post by Reaver Daniels)
    But did the question specify about why patterns of trade 'have' changed or was it 'possible reasons for changes in the pattern of trade'?


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