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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 GTHargs)
    Use ones from other exams boards- OCR and PRE U in particular - they are a lot harder which makes for good practice
    Which OCR papers do you use to revise the MCQs from??
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    What diagrams should I revise for macro?
    Also, how are you guys revising? Are you using old spec papers?
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    thank you! I asked my teacher to give me cambridge mcqs - they're definitely a lot more difficult!
    (Original post by GTHargs)
    Use ones from other exams boards- OCR and PRE U in particular - they are a lot harder which makes for good practice
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    (Original post by BintM)
    What diagrams should I revise for macro?
    Also, how are you guys revising? Are you using old spec papers?
    AD/AS, PPF, All Trade ones, Aggregate labour markets, Phillips Curve

    Yeh, because it takes quite a while to do a paper, I am going through past papers and just planning all the answers to my questions in short - maybe also putting in the diagram(s) I would use.
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    Evaluate the view that firms will try to minimise their costs and maximise their revenue ? Help, is this profit maxi and reven maxim

    Also evaluate the view that a decrease in government spending is always unnecessary?
    my ideas: decrease in ad->>> neg multiplier effects ->> u/e
    Any ideas
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    (Original post by physicsamor)
    Evaluate the view that firms will try to minimise their costs and maximise their revenue ? Help, is this profit maxi and reven maxim

    Also evaluate the view that a decrease in government spending is always unnecessary?
    my ideas: decrease in ad->>> neg multiplier effects ->> u/e
    Any ideas
    1. You have to note that it is impossible to max rev and min costs at the same time (max rev, MR=0/min costs, output=0). So you should say that firms may try maxis the difference between total rev and total costs (i.e profit maximisation MC=MR).

    Then go on to say why firms might profit maximise, then evaluate comparing markets structures and giving examples of maybe when they don't want to profit maximise.

    Then talk about other objectives - profit satisfying (stakeholder models), managerial objectives (principal-agent problem) - evaluating all and relating them to different market structures.

    It might be useful if there is time to do a bit on oligopolies - looking at market conduct, kinked demand curve, game theory, collusion, non-price competition, price leadership etc..

    2. This one is quite simple. The obvious point is a fall in AD. But then you have to say that this may reverse a crowding out effect, or it is necessary to get down the fiscal deficit and national debt.

    Then talk about the importance of government spending not only on ad but also in influencing the supply side as well as inequality, merit goods and public goods. However contrast this with the fact that it might be necessary to cut spending in order to eradicate poverty and unemployment traps - supply-side improvements through a free-market approach.

    Then finish with some evaluation- investor confidence in a heavily indebted country, crowding out, EU fiscal rules (we're not out yet), public choice theory (political pressures), may be propping up inefficient declining industries, can't increase taxes anymore etc.

    ARE you doing your A2 this year?
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    Can you guys take a look at my essay and tell me what you think I'd get?

    It goes from the bottom up!

    http://m.imgur.com/a/crMPB
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    how do you guys go about the essay questions, and does anyone have the paper for 2016 AS?
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    (Original post by GTHargs)
    1. You have to note that it is impossible to max rev and min costs at the same time (max rev, MR=0/min costs, output=0). So you should say that firms may try maxis the difference between total rev and total costs (i.e profit maximisation MC=MR).

    Then go on to say why firms might profit maximise, then evaluate comparing markets structures and giving examples of maybe when they don't want to profit maximise.

    Then talk about other objectives - profit satisfying (stakeholder models), managerial objectives (principal-agent problem) - evaluating all and relating them to different market structures.

    It might be useful if there is time to do a bit on oligopolies - looking at market conduct, kinked demand curve, game theory, collusion, non-price competition, price leadership etc..

    2. This one is quite simple. The obvious point is a fall in AD. But then you have to say that this may reverse a crowding out effect, or it is necessary to get down the fiscal deficit and national debt.

    Then talk about the importance of government spending not only on ad but also in influencing the supply side as well as inequality, merit goods and public goods. However contrast this with the fact that it might be necessary to cut spending in order to eradicate poverty and unemployment traps - supply-side improvements through a free-market approach.

    Then finish with some evaluation- investor confidence in a heavily indebted country, crowding out, EU fiscal rules (we're not out yet), public choice theory (political pressures), may be propping up inefficient declining industries, can't increase taxes anymore etc.

    ARE you doing your A2 this year?
    woah thank you so much! I am doing my A2 this year. I guess I really need to revise more because I would have never thought of some of these points
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    How is everyone finding revision? Macro is killing me. I feel like a lot of what I learn doesnt match the essays and Im really worried for this exam.

    Anyways I've seen the question come up a few times and I don't know how to structure it/ what points to include:
    Evaluate the effectiveness of monetary policy in achieving macroeconomic stability in the UK?
    (Its from the macro spec a level paper from the aqa website)
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    Ugh I'm really worrieeeed. I feel like I don't know anything at all ;(
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    (Original post by physicsamor)
    How is everyone finding revision? Macro is killing me. I feel like a lot of what I learn doesnt match the essays and Im really worried for this exam.

    Anyways I've seen the question come up a few times and I don't know how to structure it/ what points to include:
    Evaluate the effectiveness of monetary policy in achieving macroeconomic stability in the UK?
    (Its from the macro spec a level paper from the aqa website)
    Don't be scared by "stability". Just look at how monetary policy affects the objectives. Maybe also add in currency stability, emphasise the inflation target of low and stable inflation etc. As long as you know your chains of reasoning, this should be relatively straightforward.
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    For unit 3 how do you approach the 10 marker and how much of the source should you use?
    Also how is everyone remembering everything there is so much!
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    (Original post by GTHargs)
    Don't be scared by "stability". Just look at how monetary policy affects the objectives. Maybe also add in currency stability, emphasise the inflation target of low and stable inflation etc. As long as you know your chains of reasoning, this should be relatively straightforward.
    Thanks, would I need to include anything on the monetary policy transmission mechanism?
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    Hey guys , I was just wondering if anyone knows how you can get A* in Economics? Do you need 90% in all the papers ?
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    (Original post by physicsamor)
    Thanks, would I need to include anything on the monetary policy transmission mechanism?
    Yes, that is the main part of analysis
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    In case you guys missed the webinar
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    Just what I needed!
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    (Original post by physicsamor)
    Just what I needed!
    Head over to their channel they have loads
    Its what i'll be watching during my revision breaks :yep:
    Did you attend the grade booster workshop? If not i can try post the tips they gave to help everyone :yy:
 
 
 
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