OCR A-Level Economics H460 5th, 12th, 15th June 2018 [Exam Discussion]

I got germany as the difference was the smallest between the 25-35 and 55-64 difference was like 4.6

Last year was something like 66% for an A and 56% for a B x
But **** knows how difficult it was relative to last years paper. I would imagine about the same as some of those short mark questions were tough but the essays on monopolies and Free market economies when alright for people at my school.

I honestly failed that exam. I just know it, but anyway its over and its my fault if i did fail.

I ****ed up the private good question and the calculation question

For the relationship question, i said it did not support the relationship because South Korea has the highest percentage of tertiary education but their income was the lowest.

For the question after that about the labour mobility, i said something about south korea having less labour mobility or someshit, like they can't work abroad or something and then I said something about germany and their increase

For the 8 marker i had no idea you needed to do a maximum price , i just thought £9250 just froze and didn't increase
I said it can be a disadvantage for some students depending on the course&university
If inflation increases, there would be higher costs in other aspects of the course..so insufficient funds (?)
I said it would alternate their incentives. If the tuition fees froze, those a level students would have time to think about their choice and decide whether they'd like to go to university or not, so something about consumer confident / incentives
Disadvantages - i just talked crap and waffled and said something about theres still going to be debt in the future so can discourage some students

I said it doesn't benefit poor students? LOL

For 12 marker - I talked about how theres less jobs in the English Lit category, therefore higher demand for medicine. Theres more benefits from medicine. I used a wage disparity graph and compared nurses/doctors to Englsih Lit teachers and how nurses have an inelastic supply and demand whereas English teachers have an elastic one because its easier to become an English Teacher but takes around 8 years to be a qualified doctor.
I said that Medicine will reduce the economic problem of scarcity as more health services will be provided. Whereas English Lit does not help anything, they don't benefit as much as Medicine does. But i did talk about how it takes 8 years or so, i think its university -> masters -> training -> or something to becoem a doctor, and some workers may not be determined to go through that process and therefore bail out after university.
But Yes, doctors/nurses bring in more MRP and more benefits. Its more stressful&longer process. Plus people that graduate from medicine earn the most.
Whereas English Literature opposite. Can't really say why we should give more money to English Lit students.

The monopoly i just talked about everything - really happy

but that XED/YED question i talked absolutely ****, I had no idea what to write. I just waffled and said stuff about normal/luxury good, the amount of substitutes within the market, the type of product, and the type of economic cycle. <- I just randomly added that, saying If you're operating within a recession it would be wise to drop prices in order to stay in buisness but boom no need. Thats the only macro point i put, then i talked about...argh **** it
I probably got around 50-55%. I will try my hardest on macro and paper 3. !

I initially thought price discrimination when I first read the question, but then remembered it can't be as price discrimination has to be exactly the same good, e.g. charging a different price for business class and economy class plane tickets is not regarded as price discrimination. Since medicine and English Literature are two different courses, I deduced that it wasn't price discrimination, rather it was just a maximum price. What does everyone think? Was I wrong to think this?

I think PD would be ok if you thought of the good as education regardless of what subject it was. At then end of the day you go to uni for further education which is a standard provided by unis.

Also I thought economy and business class are 3rd degree price discrimination because the airline is able to discriminate based off incomes. The identical good being the flight/journey.

Yeah I think this is true, I mentioned price discrimination but didn’t develop it much just incase but think it’s a valid point

How are you all revsing for the synoptic paper? and also is there multiple choice in the synoptic paper?

For the first question, would it be okay to have said its a private good as private goods exhibit excludability, there is evidence in the data to suggest this as those whom cannot pay the £9250 tuition fee are excluded from consumption?

yeh, I got Germany aswell as it had the smallest increase in occupational mobility of labour

so I put germany bc it had the lowest 25-35 year olds in higher education, but I didn't read the q properly and missed the fact that you had to compare them, so didn't mention the older generation at all. How many marks do we reckon I'd lose?

For the first question, would it be okay to have said its a private good as private goods exhibit excludability, there is evidence in the data to suggest this as those whom cannot pay the £9250 tuition fee are excluded from consumption?

I'd expect so. You'd probably need more than just excludability- Private goods have other characteristics. The question also just asked for an explanation, so there was no need to use the case study but I'm sure it will be credited.