Go to first unread
Back
to top
Edexcel A-level Economics(A) Paper 3 15th June 2018 [Exam Discussion]
Watch
Announcements
To be honest, I have not even looked at the structure of paper 3 yet... It's a 50 mark case study and 2 25 mark essays right? And will we have to use Micro+Macro on every question or will some questions be pure macro, some pure micro and some mixed?
0
reply
Report
#2
If someone can give a list of the topics that barely came up, that'd be nice!
Paper 3 is gonna be hard for timing, luckily have 2 papers to practise so it should hopefully be okay.
Paper 3 is gonna be hard for timing, luckily have 2 papers to practise so it should hopefully be okay.
2
reply
Report
#3
There are two sections A and B 50 marks in each
Each is composed of a 5, 8 and 12 marker with a choice of two 25 mark essays.
There will be a case study and data given for each section but you are also expected to use outside knowledge/facts etc.
You can use pure micro or pure macro or a mix on the lower mark questions but for the 25 markers you need to use both, high level answers will start in micro and end in macro or vice versa (apparently, I'm only a student)
Each is composed of a 5, 8 and 12 marker with a choice of two 25 mark essays.
There will be a case study and data given for each section but you are also expected to use outside knowledge/facts etc.
You can use pure micro or pure macro or a mix on the lower mark questions but for the 25 markers you need to use both, high level answers will start in micro and end in macro or vice versa (apparently, I'm only a student)
1
reply
Report
#4
These are the macro topics which did not come up in any detail in Paper 2 (so they are worth revising for Paper 3).
Theme 2
2.1.1 Limitations of using GDP to compare living standards (and alternative measurements e.g. HDI, National Happiness Index)
2.1.2 Inflation
2.1.3 Unemployment
2.4 The Circular flow of income
2.4.1 The Multiplier effect
2.5 Economic growth - Output Gaps. The Trade cycle.
2.6 MEPO’s Macro Economic Policy objectives and 2.6.4 Trade-offs / conflicts between policies
2.6.2 Monetary policy (including the wider role of the Central bank in regulating the finance sector)
Theme 4
4.1 Trading blocs and the World Trade Organisation (WTO)
4.1.6 Restrictions on free trade (tariffs, Quotas, subsidies)
4.1.9 International competitiveness (including labour productivity)
4.3 Emerging and Developing economies:
- measures of development
- limits to growth and development e.g. primary product dependence etc
- strategies to overcome these limits e.g. market oriented vs interventionist strategies
4.4 The Financial sector
- market failure in the financial sector
- role of central banks
These are the micro topics which did not come up in any detail in Paper 1 (so they are worth revising for Paper 3).
Theme 1
1.2.1 Rational decision making (consumers aim to maximise utility, firms aim to maximise profits)
1.2.10 Alternative views of consumer behaviour (consideration of the influence of other people’s behaviour, the importance of habitual behaviour, consumer weakness at computation)
1.4.1 Government intervention in markets (tax, subsides, max and minimum prices)
1.4.2 Govt failure – eg unintended consequences
Theme 3
3.1 Business Growth (types of firm, how businesses grow, demergers)
3.3 Costs (fixed/variable, short run/long run, economies of scale)
3.4 Market structures (Perfect competition, monopolistic competition, oligopoly, monopsony)
3.5 Labour market (immobility in supply of labour did come up in paper 1, but demand for labour and Wage determination have still not come up)
Theme 2
2.1.1 Limitations of using GDP to compare living standards (and alternative measurements e.g. HDI, National Happiness Index)
2.1.2 Inflation
2.1.3 Unemployment
2.4 The Circular flow of income
2.4.1 The Multiplier effect
2.5 Economic growth - Output Gaps. The Trade cycle.
2.6 MEPO’s Macro Economic Policy objectives and 2.6.4 Trade-offs / conflicts between policies
2.6.2 Monetary policy (including the wider role of the Central bank in regulating the finance sector)
Theme 4
4.1 Trading blocs and the World Trade Organisation (WTO)
4.1.6 Restrictions on free trade (tariffs, Quotas, subsidies)
4.1.9 International competitiveness (including labour productivity)
4.3 Emerging and Developing economies:
- measures of development
- limits to growth and development e.g. primary product dependence etc
- strategies to overcome these limits e.g. market oriented vs interventionist strategies
4.4 The Financial sector
- market failure in the financial sector
- role of central banks
These are the micro topics which did not come up in any detail in Paper 1 (so they are worth revising for Paper 3).
Theme 1
1.2.1 Rational decision making (consumers aim to maximise utility, firms aim to maximise profits)
1.2.10 Alternative views of consumer behaviour (consideration of the influence of other people’s behaviour, the importance of habitual behaviour, consumer weakness at computation)
1.4.1 Government intervention in markets (tax, subsides, max and minimum prices)
1.4.2 Govt failure – eg unintended consequences
Theme 3
3.1 Business Growth (types of firm, how businesses grow, demergers)
3.3 Costs (fixed/variable, short run/long run, economies of scale)
3.4 Market structures (Perfect competition, monopolistic competition, oligopoly, monopsony)
3.5 Labour market (immobility in supply of labour did come up in paper 1, but demand for labour and Wage determination have still not come up)
21
reply
2
reply
Report
#6
Guys just a quick question for paper 3 Edexcel economics
We have to mention both macro and micro points right, so could we pick one point and write for micro and for macro??
Example:
Fall in the value of pound-higher exports-investment- abnormal profits- spending in R&d ‘ all of micro points
Then with the same concept for macro : fall in the value of pound-higher exports- more investment- jobs-living standards-more -corporation tax ‘all of macro points
My concept was exports- for micro point and macro point.
Will I be able to do that?? Or do I have to change the concept for one of them?[/QUOTE]
We have to mention both macro and micro points right, so could we pick one point and write for micro and for macro??
Example:
Fall in the value of pound-higher exports-investment- abnormal profits- spending in R&d ‘ all of micro points
Then with the same concept for macro : fall in the value of pound-higher exports- more investment- jobs-living standards-more -corporation tax ‘all of macro points
My concept was exports- for micro point and macro point.
Will I be able to do that?? Or do I have to change the concept for one of them?[/QUOTE]
0
reply
Report
#7
(Original post by M_student)
Guys just a quick question for paper 3 Edexcel economics
We have to mention both macro and micro points right, so could we pick one point and write for micro and for macro??
Example:
Fall in the value of pound-higher exports-investment- abnormal profits- spending in R&d ‘ all of micro points
Then with the same concept for macro : fall in the value of pound-higher exports- more investment- jobs-living standards-more -corporation tax ‘all of macro points
My concept was exports- for micro point and macro point.
Will I be able to do that?? Or do I have to change the concept for one of them?
Guys just a quick question for paper 3 Edexcel economics
We have to mention both macro and micro points right, so could we pick one point and write for micro and for macro??
Example:
Fall in the value of pound-higher exports-investment- abnormal profits- spending in R&d ‘ all of micro points
Then with the same concept for macro : fall in the value of pound-higher exports- more investment- jobs-living standards-more -corporation tax ‘all of macro points
My concept was exports- for micro point and macro point.
Will I be able to do that?? Or do I have to change the concept for one of them?
Yo i wanna know this too, like do you make distinct macro/micro points and then do analsysis using both ?
0
reply
Report
#8
(Original post by JamieTheb)
Yo i wanna know this too, like do you make distinct macro/micro points and then do analsysis using both ?
Yo i wanna know this too, like do you make distinct macro/micro points and then do analsysis using both ?
1
reply
Report
#9
For the 5,8,12 it does not require both. You can do either macro/micro or a mix, unless specified. In 25 markers it will ask for both macroeconomic and microeconomic where you will be required to answer with a micro effect and macro effect. A balance would be required to achieve top marks. I believe the above example should be fine because they are the same effect but explained in different terms, and the main chain of analysis is different. Hope this helped
1
reply
Report
#10
Dal is WRONG. You need a judgement for all 25 markers. Effects is easy, just prioritise and you'll be fine.
0
reply
Report
#11
anyone can confirm if we need to write a judgement then? mixed responses everywhere
0
reply
Report
#12
(Original post by Demesne7)
anyone can confirm if we need to write a judgement then? mixed responses everywhere
anyone can confirm if we need to write a judgement then? mixed responses everywhere
You need to say which of the effects is most likely regardless of impact there will always be effects more/less likely than others!!
0
reply
Report
#13
(Original post by Demesne7)
anyone can confirm if we need to write a judgement then? mixed responses everywhere
anyone can confirm if we need to write a judgement then? mixed responses everywhere
The mark scheme says you can include an informed judgement to back up your points
0
reply
Report
#14
Yo i wanna know this too, like do you make distinct macro/micro points and then do analsysis using both ?[/QUOTE]
That’s absolutely fine cause the question says show micro and macro effects which you have done, as long as you link it to macro and micro effects clearly it doesn’t matter
That’s absolutely fine cause the question says show micro and macro effects which you have done, as long as you link it to macro and micro effects clearly it doesn’t matter
1
reply
Report
#15
potential essay nationalisation? if so what are the macro effects got 1 i.e increasing deficit, and the micro one are fine ---you usually need to link two points anyone know any other macro effects of nationalisation?? pls help
0
reply
Report
#17
(Original post by KJ21_)
These are the macro topics which did not come up in any detail in Paper 2 (so they are worth revising for Paper 3).
Theme 2
2.1.1 Limitations of using GDP to compare living standards (and alternative measurements e.g. HDI, National Happiness Index)
2.1.2 Inflation
2.1.3 Unemployment
2.4 The Circular flow of income
2.4.1 The Multiplier effect
2.5 Economic growth - Output Gaps. The Trade cycle.
2.6 MEPO’s Macro Economic Policy objectives and 2.6.4 Trade-offs / conflicts between policies
2.6.2 Monetary policy (including the wider role of the Central bank in regulating the finance sector)
Theme 4
4.1 Trading blocs and the World Trade Organisation (WTO)
4.1.6 Restrictions on free trade (tariffs, Quotas, subsidies)
4.1.9 International competitiveness (including labour productivity)
4.3 Emerging and Developing economies:
- measures of development
- limits to growth and development e.g. primary product dependence etc
- strategies to overcome these limits e.g. market oriented vs interventionist strategies
4.4 The Financial sector
- market failure in the financial sector
- role of central banks
These are the micro topics which did not come up in any detail in Paper 1 (so they are worth revising for Paper 3).
Theme 1
1.2.1 Rational decision making (consumers aim to maximise utility, firms aim to maximise profits)
1.2.10 Alternative views of consumer behaviour (consideration of the influence of other people’s behaviour, the importance of habitual behaviour, consumer weakness at computation)
1.4.1 Government intervention in markets (tax, subsides, max and minimum prices)
1.4.2 Govt failure – eg unintended consequences
Theme 3
3.1 Business Growth (types of firm, how businesses grow, demergers)
3.3 Costs (fixed/variable, short run/long run, economies of scale)
3.4 Market structures (Perfect competition, monopolistic competition, oligopoly, monopsony)
3.5 Labour market (immobility in supply of labour did come up in paper 1, but demand for labour and Wage determination have still not come up)
These are the macro topics which did not come up in any detail in Paper 2 (so they are worth revising for Paper 3).
Theme 2
2.1.1 Limitations of using GDP to compare living standards (and alternative measurements e.g. HDI, National Happiness Index)
2.1.2 Inflation
2.1.3 Unemployment
2.4 The Circular flow of income
2.4.1 The Multiplier effect
2.5 Economic growth - Output Gaps. The Trade cycle.
2.6 MEPO’s Macro Economic Policy objectives and 2.6.4 Trade-offs / conflicts between policies
2.6.2 Monetary policy (including the wider role of the Central bank in regulating the finance sector)
Theme 4
4.1 Trading blocs and the World Trade Organisation (WTO)
4.1.6 Restrictions on free trade (tariffs, Quotas, subsidies)
4.1.9 International competitiveness (including labour productivity)
4.3 Emerging and Developing economies:
- measures of development
- limits to growth and development e.g. primary product dependence etc
- strategies to overcome these limits e.g. market oriented vs interventionist strategies
4.4 The Financial sector
- market failure in the financial sector
- role of central banks
These are the micro topics which did not come up in any detail in Paper 1 (so they are worth revising for Paper 3).
Theme 1
1.2.1 Rational decision making (consumers aim to maximise utility, firms aim to maximise profits)
1.2.10 Alternative views of consumer behaviour (consideration of the influence of other people’s behaviour, the importance of habitual behaviour, consumer weakness at computation)
1.4.1 Government intervention in markets (tax, subsides, max and minimum prices)
1.4.2 Govt failure – eg unintended consequences
Theme 3
3.1 Business Growth (types of firm, how businesses grow, demergers)
3.3 Costs (fixed/variable, short run/long run, economies of scale)
3.4 Market structures (Perfect competition, monopolistic competition, oligopoly, monopsony)
3.5 Labour market (immobility in supply of labour did come up in paper 1, but demand for labour and Wage determination have still not come up)
1
reply
Report
#18
(Original post by Shakir-C-SG)
Just give up on life, you will definitely fail tomorrow's paper with ideas like that. Come on mate, Nationalisation - are you serious??? Theres a better chance of Suadi Arabia winning the world cup then that coming up.
Just give up on life, you will definitely fail tomorrow's paper with ideas like that. Come on mate, Nationalisation - are you serious??? Theres a better chance of Suadi Arabia winning the world cup then that coming up.
0
reply
Report
#20
(Original post by peanotto)
? Financial sector came up. There was literally a 15 marker on it....
? Financial sector came up. There was literally a 15 marker on it....
0
reply
X
Quick Reply
