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

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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
    It is not all about japans economy it includes the uk economy and reducing interest rate had no effect in the 2008 financial crisis due to low confidence so there was liquidity trap
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    (Original post by Sam10711)
    It was something about whether market based strategies such as privatisation and trade liberalisation are the best for economic development in India
    Oh yeah, so I said that unlike economic growth which measures the national output of goods and services in the economy, economic development bases on human welfare. I then said that generally, in less developed countries such as India, economic growth is achieved at the expense of things like inequality, infrastructure, health care and education.
    So for some reason then I went on to draw a tariff removal diagram, and said that this trade liberalisation increases quantity - so choice, and reduces prices, increasing welfare. But because of the widening inequality in India, and the fact that the rich have a high MPS, then arguably demand will be very inelastic, so will not to benefit from the welfare gain.
    I said that, although this increased choice and reduced price will increase welfare, other forms of trade liberalisation such as privatisation, will reduce the provision of merit goods such as education, reducing development. But then I said, that this increased government revenue could be beneficial for the indian government to finance spending in other areas, as they are suffering from problems in collecting tax.
    I then said, that this increased privatisation and liberalisation does increase welfare in some aspects, but arguably the government could act to improve infrastructure, which is currently crumbling. This will be a long-term gain, but the funding will have to be paid by future generations, along with high interest rates, reducing future development.
    Somewhere I put that the government could finance subsidies of other markets to increase development, such as more secondary/tertiary sector markets that are common for more developed countries.
    i cant remember everything I put, but I seem to have gone down the whole wrong chain of reasoning. Around how many marks do you think i would have scraped, im thinking low since I didnt really answer the question. You can be brutal because I need to see how many more marks I need to get on paper 3.
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    (Original post by Nuggetsarelife)
    I aint got time to read shakespeares written work, summarise it pls, k thnx
    First essay: evaluated the components of monetary policy to help reduce inflation, then said that a combination of factors including fiscal and supply-side policies will be more useful to help reduce inflation if monetary policy does not deliver.

    Second essay: evaluated interest rates to reduce consumption and investment and so demand for imports, export subsidies and import tariffs all to reduce the current account deficit in the UK. Concluded that without policies, weak pound following Brexit vote may help to reduce the deficit as imports become more expensive, but failing this, a combination of factors should again be used to reduce the deficit as no single policy is likely to be successful due to their relative flaws.

    Short enough for you, or do you want just a line instead? K, thanks.
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    (Original post by faatimahshiekh)
    Oh yeah, so I said that unlike economic growth which measures the national output of goods and services in the economy, economic development bases on human welfare. I then said that generally, in less developed countries such as India, economic growth is achieved at the expense of things like inequality, infrastructure, health care and education.
    So for some reason then I went on to draw a tariff removal diagram, and said that this trade liberalisation increases quantity - so choice, and reduces prices, increasing welfare. But because of the widening inequality in India, and the fact that the rich have a high MPS, then arguably demand will be very inelastic, so will not to benefit from the welfare gain.
    I said that, although this increased choice and reduced price will increase welfare, other forms of trade liberalisation such as privatisation, will reduce the provision of merit goods such as education, reducing development. But then I said, that this increased government revenue could be beneficial for the indian government to finance spending in other areas, as they are suffering from problems in collecting tax.
    I then said, that this increased privatisation and liberalisation does increase welfare in some aspects, but arguably the government could act to improve infrastructure, which is currently crumbling. This will be a long-term gain, but the funding will have to be paid by future generations, along with high interest rates, reducing future development.
    Somewhere I put that the government could finance subsidies of other markets to increase development, such as more secondary/tertiary sector markets that are common for more developed countries.
    i cant remember everything I put, but I seem to have gone down the whole wrong chain of reasoning. Around how many marks do you think i would have scraped, im thinking low since I didnt really answer the question. You can be brutal because I need to see how many more marks I need to get on paper 3.
    yours sounds really good way like high A standard!. Mine is below so we did quite different stuff, does mine sound ok??



    25 marker- defined the terms

    1st arg- quoted the source on how India were reliant on other countries etc. Did a paragraph on how the government should take control by implementing a tariff. This may make exports more competitive in the domestic economy leading to increase AD.

    evaluated- strong- export led multiplier if the marginal propensity to consume is high and thus development may increase economically by a large extent as incomes would rise.

    Weak- demand for imports may be inelastic and thus strategic and infant industries may not improve resulting in less development. Final judgement- don't use government approach as tariffs can lead to retaliation which may hinder development and used china and isa devaluation war as example of retaliation.

    2nd arg- market approaches best- free trade and liberalisation- increase movement of MNCs such as Nike. Provide job opportunities in countries like india- increase employment reduction natural rate of employment and larger development

    Diagram- increase supply labour and fall in voluntary unemployment

    strong- something from source
    weak- keynesiansm argues that the supply of labour may not result in higher employment in these areas if there is a lack of demand and thus keynesian demand side management as a method to improve development is best. Did diagram with fine tuned AD and opt gdp low inflation and max unemployment

    conclusion- supply side policies may be most effective and compared args etc plus LRAS shifting right
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    (Original post by junky27)
    yours sounds really good way like high A standard!. Mine is below so we did quite different stuff, does mine sound ok??



    25 marker- defined the terms

    1st arg- quoted the source on how India were reliant on other countries etc. Did a paragraph on how the government should take control by implementing a tariff. This may make exports more competitive in the domestic economy leading to increase AD.

    evaluated- strong- export led multiplier if the marginal propensity to consume is high and thus development may increase economically by a large extent as incomes would rise.

    Weak- demand for imports may be inelastic and thus strategic and infant industries may not improve resulting in less development. Final judgement- don't use government approach as tariffs can lead to retaliation which may hinder development and used china and isa devaluation war as example of retaliation.

    2nd arg- market approaches best- free trade and liberalisation- increase movement of MNCs such as Nike. Provide job opportunities in countries like india- increase employment reduction natural rate of employment and larger development

    Diagram- increase supply labour and fall in voluntary unemployment

    strong- something from source
    weak- keynesiansm argues that the supply of labour may not result in higher employment in these areas if there is a lack of demand and thus keynesian demand side management as a method to improve development is best. Did diagram with fine tuned AD and opt gdp low inflation and max unemployment

    conclusion- supply side policies may be most effective and compared args etc plus LRAS shifting right
    Thank you so much, I have been stressing about it all day. And yours is so good, I wish I thought about some of those points
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    (Original post by archie341)
    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.
    Yes! this!! I literally wrote the same things whilst also mentioning our exports fell with the 1948 date and mentioned closure of the mines= less exports, more fuel imports
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    What will the grade boundaries be like?
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    For the patterns of trade q I said:

    -Trade liberalisation
    -Trading Blocs
    -UKs shift from goods to services
    -Improvements in technology
    -Rise of MNCs

    Are these points valid?
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    (Original post by hbaig27)
    For the patterns of trade q I said:

    -Trade liberalisation
    -Trading Blocs
    -UKs shift from goods to services
    -Improvements in technology
    -Rise of MNCs

    Are these points valid?

    Should be sounds about right


    (Original post by mannan_hassan)
    What will the grade boundaries be like?
    I'm guessing high since the paper wasn't too hard, although I guess it depends overall on how we answered them.
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    I liked this paper, I feel.
    I did Context 2 and Essay 1.

    For the Essay 1 25 marker, I:

    - Talked about how increasing aggregate demand reduces cyclical unemployment and promotes economic growth - hence no trade-off; then how there is a tradeoff between unemployment and inflation, through using the Phillips curve
    - went on to explain the consequences of this trade off, which is embedded prices; another diagram
    - then talked about the Marshall Lerner condition as a fall in the value of the currency boosts AD, resulting in eco growth, reducing unemployment, should it hold in the long run, whilst improving BOP, J curve diagram
    - then finally mentioned how adopting a supply side policy can help to achieve all MEOS at the same time, by increasing LRAS

    A grand total of 5 diagrams.

    For the 25 marker on Context 2, I:

    - talked about expansionary monetary policy, mentioned the effects and potential consequences
    - talked about supply side policies, pointed out that it makes deflation worse, but questioned the question, enquiring if deflation even needs to be tackled
    - talked about fiscal policy, saying it is alright in SR as it stimulates AD, but accumulates a high PSND in the long run, and mentioned the consequences
    - Concluded that monetary policy was the most effective out of these methods, but its success depends on the magnitude
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    Grade boundary predictions for an A/A* ?
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    If anyone did essay 1 for section b (unemployment) then look at the June 2015 paper and mark scheme the questions were almost identical
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    (Original post by Ellieb06)
    If anyone did essay 1 for section b (unemployment) then look at the June 2015 paper and mark scheme the questions were almost identical
    Thank you!!!
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    (Original post by hbaig27)
    For the patterns of trade q I said:

    -Trade liberalisation
    -Trading Blocs
    -UKs shift from goods to services
    -Improvements in technology
    -Rise of MNCs

    Are these points valid?
    You could have said trade with countries outside Europe has fallen due to high import tax when trading with non eu countries. And trade with usa has also fallen due more of a protectionist midset from trump. Overall all your points are to the point ... Did u talk about specialisation ?
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    Probably around 12/13 cuz you didn't make much use of data then and it's important to have other sides of the argument as well ... evaluation or conclusion is like 8 marks so that would be gone then anyways
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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

    It's always hard to say... 2 pages can be enough if you've got really high quality analysis and conclusion but for my essay , chose the same context, I wrote 5 pages I think.
    It's also important to look at different angles of the arguement and because you haven't evaluated other policies or scenarios you will more likely be in the third column which I think is around 14/15 marks and then I think conclusion is worth 7 marks or so so those marks would then automatically lost if not applied
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    (Original post by ravister)
    You could have said trade with countries outside Europe has fallen due to high import tax when trading with non eu countries. And trade with usa has also fallen due more of a protectionist midset from trump. Overall all your points are to the point ... Did u talk about specialisation ?
    Yeah I'm sure I mentioned some of that. Do you think technological advancements would be a valid point? Could i get above 11 with these points?
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    Grade boundary predictions?
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    (Original post by citibankrec)
    Grade boundary predictions?
    Beyond unpredictable. We have no idea how they will be marked.

    Some teachers are way too nice, some are way too harsh.
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    Going to predict 61-62 for an A, although it's just a wild guess at this point
 
 
 
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