This discussion is now closed.

Check out other Related discussions

OCR 2888: Economics in a European Context

Scroll to see replies

I'm not panicing at all. However this is only exam in 9 days (last friday, then next monday)!

My philosophy in exams since the January modules has been,

Leave no stone unturned in revision,
then
Trust your training.

Reply 301

5star

can someone briefly explain externalities and how they are related to the topics coming up ? thanks..

Reply 302

DaveyBoy06

When we talk about FDI are we showing it as a possible outward shift in the PPF or do we show it as in increase in AD and then perhaps an increase in AS which would reduce any inflationary pressures?

Reply 303

steve2006

externalities can be defined as a external cost of benefit from an economic transaction that affects a third party not directly involved in the transaction. Its also the divergence between private cost and social cost.

Its realated to this case study cos it concerns pollution which is a negative externality. The case study concerns the use of regulation as a means of controlling the externality. But there are other methods like taxation.

Im panicking like hell for this one. I did do in june market failure so i know my stuff on externalities but its just that this exam is worth 120 bloody marks.

Does every know what timings we should have the exam. ie how long to leave for the each question.

Q1(a) is 6 marks
Q1(b) is 9 marks
Q2 is 10 marks
Q3 is 15 marks
Q4 is 20 marks

Reply 304

jameskelsall

DaveyBoy06

When we talk about FDI are we showing it as a possible outward shift in the PPF or do we show it as in increase in AD and then perhaps an increase in AS which would reduce any inflationary pressures?

I would show it using AD/AS analysis, PPF is perhaps too simplistic?

Reply 305

wiseman01

I would use both AD/AS and PPF. Increasing AS means there is an increase in productive capacity, which leads into a diagram illustrating a shift in the PPF and you can talk about economic growth from there. So both are good!

Ok Cheers

i would say discuss both to get higher marks, AD is short run, PPF/ AS is long run isnt it?

Reply 308

bbc_18

Thought i'd contribute to the thread a bit more with information instead of just questions. So I'm not sure about how likely this would come up but:

Potential EU policies to improve fuel efficiency and lower CO2 emissions. [20]

-Minimum emissions standards
-Legislation to enforce minimum fuel efficiency levels
-Improved information and education
-More widespread use of 'green taxation' a) higher fuel tax on petrol b)differential emissions taxes on new vehicles.
-Impose penalties on car producers who make vehicles that exceed EU maximum
-Encourage switiching to bio-fuels
-Incentives to invest in clean car technologies
-Promoting alternatives to road transport
-Government procurement (purchasing) policies
-Road pricing schemes
-Incentives for scrapping old cars
-Improve road infrastructure and traffic management technology
-Carbon trading - tradable pollution permits
-Carbon offsetting scheme

The basis of this essay would be to consider a few of the above and write out pros and cons for the poitns chosen, then come to a conclusion about which you think would work best.

EVALUATION: Note that it could be different policies for different countries in the EU, so while one may work well in say the UK, it may not work well in Germany.

Hope this helps :smile:

Reply 309

manDarinka

How to draw a long-run mt equilibrium for oligopoly with abnormal profit shaded?
cz i only know the kinked demand

Reply 310

DaveyBoy06

steve2006

Does every know what timings we should have the exam. ie how long to leave for the each question.

Q1(a) is 6 marks
Q1(b) is 9 marks
Q2 is 10 marks
Q3 is 15 marks
Q4 is 20 marks

I usually spread it out evenly by doin the number of minutes divided by the number of marks (105/60) = 1.75 minutes for every mark
So im not goin to spend longer than 2 minutes for every mark im trying to get. You would probably want to spend at least 35 minutes on the last question as it is worth a third of the marks!

Reply 311

MattJR

haha thats straight out of the tutor2u pack

Reply 312

alex_hk90

steve2006

Does every know what timings we should have the exam. ie how long to leave for the each question.

Q1(a) is 6 marks
Q1(b) is 9 marks
Q2 is 10 marks
Q3 is 15 marks
Q4 is 20 marks

Hmm, however long the questions take; maybe something like:
Q1(a): 5 mins
Q1(b): 10 mins
Q2: 20 mins
Q3: 30 mins
Q4: 40 mins

Reply 313

bbc_18

MattJR

haha thats straight out of the tutor2u pack

Was that aimed at me?? I didn't actually notice, my teacher gave me that list >.<" Maybe that's where he got it from..hehe but tutor2u pack (i just checked) gives some extras and also good explaination of them!

hehe

Reply 314

MattJR

lol yeh bbc, that pack was the only thing our teacher gave us, he told us to read through it, then spent the rest of his time teaching us the work and leisure unit, thankfully Alex and Ploops notes have been a great help, what grade are you hoping for buddy?

Reply 315

bbc_18

MattJR

Umm..well i need an A grade overall, and atm im on an A from AS, but retook 2883 as i only had 90/120 so hopefully if that went up to like 100+...then that would boost it up and help me. but 2887 didn't go that great last week, and i only got a D in january so i need to get an A for this unit...and for 2884 cause i flopped that in january too! So...hopefully, 2884 if i can get an A and 2888 i can get an A then ill be ok.

What about u?

Reply 316

DaveyBoy06

Has anyone got the mark scheme for the mock paper in the tutor2u toolkit? Or any answers that you did that you feel are quite accurate? Thanks in advance

Reply 317

lizi100

i would shift AD first. someone earlier said that AD shifts because of increased C in the long run, but initially surely it is the increase in I (investment!).

Reply 318

MattJR

bbc_18

Well i need a B, to get that i need like 63% average from this and the work and leisure unit, but this is the exam i feel least confident about, what uni u going to?

Reply 319

bbc_18

MattJR

Well i need a B, to get that i need like 63% average from this and the work and leisure unit, but this is the exam i feel least confident about, what uni u going to?

If i get the grades...then Warwick..to do management, if not...then i have no idea...as i dont really have an insurance >.<"

what about u? what uni and wat course?