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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 FTSE420)
    Mentioning thr ageing population was one of the best things you could have said in my opinion. The ageing population in Japan is one of the key reasons for their prolonged deflation. Monetary policy is likely to be ineffective in a place like Japan since such reflationary policy is unlikely to work due to the MPC of elderly people being far lower than younger people. Also, the fact that it wasn't mentioned in the extract shows good knowledge of Japan's economy - it's a superb evaluative point. I was surprised at how so many people discarded this factor in determining the effectiveness of interest rates because it's a huge factor, especially in Japan and increasingly in the developed world.

    I don't necessarily think demographics is to blame, despite it being a very popular explanation in the academic spheres.. An ageing population means a shrinking workforce, which should translate into higher prices. In terms of the demand-side effects of an ageing population, despite low MPCs savings should still be recirculated as funds for investment. However, due to the fact that they are stuck in a liquidity trap and inflation expectations are so low, wages remain suppressed and firms are failing to invest. The workers need a wage rise, yet its hard to do. Ultimately, the BoJ has lost its credibility, monetary policy is basically ineffectual, they are in a debt-deflation spiral and fiscal policy is not doing enough to make up the difference. Helicopter money next?
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    (Original post by Nuggetsarelife)
    Well i got 18/30 in the MCQ, and just like that POOF, A* gone
    What multi choice did you do? I've done both spec 1 and spec 2 and got 28/30 in both
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    Anyone think Globalisation or Brexit could come up in the questions in Paper 3? I expected globalisation to come up in the Macro paper because it's a new topic in the new spec but it didn't, so surely they would include it in paper 3?
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    Which externality diagram would you use to show a bailout?
    Consumption or production ?
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    (Original post by citibankrec)
    What multi choice did you do? I've done both spec 1 and spec 2 and got 28/30 in both
    spec 1: 26/30 spec 2: 18/30. Blimey 28? you machine
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    Lool I've been getting 21/30 on both
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    (Original post by GTHargs)
    Banks in the UK are restricted by a liquidity ratio, none yet exist.

    However, there is the 8% Basel III capital ratio.
    (Original post by GTHargs)
    I don't necessarily think demographics is to blame, despite it being a very popular explanation in the academic spheres.. An ageing population means a shrinking workforce, which should translate into higher prices. In terms of the demand-side effects of an ageing population, despite low MPCs savings should still be recirculated as funds for investment. However, due to the fact that they are stuck in a liquidity trap and inflation expectations are so low, wages remain suppressed and firms are failing to invest. The workers need a wage rise, yet its hard to do. Ultimately, the BoJ has lost its credibility, monetary policy is basically ineffectual, they are in a debt-deflation spiral and fiscal policy is not doing enough to make up the difference. Helicopter money next?
    Fair play mate. That's a good counter although I would'nt have had the time to discuss it lol. How you feeling for paper 3 + are you doing econ at uni?
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    Ive just looked through spec 2 again and could only find 2-3 challenging questions that require any thought?
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    Sorry if this is a stupid question, but I was just wondering if we had to use graphs at all in paper 3? I've scoured the mark scheme for the specimen paper 3 and can't find a single mention of ANY graphs to support our written answer, but I can easily think of places where they could be applied in both the 10, 15, and 25 mark question.

    Considering how they explicitly talk about graphs in the mark schemes for papers 1 & 2, finding no mention of them in this mark scheme is a little odd!
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    (Original post by citibankrec)
    Ive just looked through spec 2 again and could only find 2-3 challenging questions that require any thought?
    Do you mean multiple choice?
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    (Original post by bethipayne)
    Sorry if this is a stupid question, but I was just wondering if we had to use graphs at all in paper 3? I've scoured the mark scheme for the specimen paper 3 and can't find a single mention of ANY graphs to support our written answer, but I can easily think of places where they could be applied in both the 10, 15, and 25 mark question.

    Considering how they explicitly talk about graphs in the mark schemes for papers 1 & 2, finding no mention of them in this mark scheme is a little odd!
    Yes, use graphs, they're there to help with your analysis and explanation and I believe count as application marks.
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    http://filestore.aqa.org.uk/resource...-71363-SQP.PDF

    For the 25 marker which points you could put in for micro? The extracts dont really mention anything about micro.
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    For the 25 marker for spec 1 what were people's arguments out of curiosity? I really struggled with that one.
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    (Original post by SWISH99)
    Do you mean multiple choice?
    yeah the mcqs
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    (Original post by citibankrec)
    yeah the mcqs
    I I agree. Hopefully they're decent tomorrow as well
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    (Original post by RG110man)
    Yes, use graphs, they're there to help with your analysis and explanation and I believe count as application marks.
    Fab, thank you! Thought this might be the case, but the lack of explicit mention of them in the mark scheme just concerned me a little.
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    Do we have a choice of two questions?
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    (Original post by Kajraj_14)
    Do we have a choice of two questions?
    There is no choice
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    (Original post by LouisB18)
    There is no choice
    im so ****ed if micro questions come up
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    (Original post by bethipayne)
    Fab, thank you! Thought this might be the case, but the lack of explicit mention of them in the mark scheme just concerned me a little.
    It's a different style of paper tbh. My teacher made the point that we're given an awful lot of extract data and that's potentially going to make this paper a lot more "blagable" in the sense that as long as what you are saying is backed up by data you should be fine. Obviously the analysis has to be there too, but you get me..
 
 
 
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