Edexcel A-level Economics A Paper 2 23rd May 2019

OP

I don’t think it’s gonna be that low. 78 for A* like last year is my guess

Last years paper does like slightly easier in comparison, so i dont know like A*-73,A-65,B-56,C-47 or something like that?

Reply 241

Petar34

9

Original post by TSTRIKER

Do you have to include the decimals?
I just wrote 115 !

Nope you should be fine there’s a tolerance

Reply 242

LeonDH

9

Good paper overall. Did section A first, followed by the 25 marker (the one on fiscal deficit/debt). First paragraph was on how Keynesian belief that the government should intentionally run a deficit as part of an expansionary fiscal policy during a recession, whilst the classical/Austrian school argue that this will harm a recovery due to the crowding out effect. Then talked about how a deficit may deter consumption/FDI because it indicates an economy is in recession, however this depends on the type/size of deficit.

Section B was okay, though I could have done with a little more time on the 12 and 15 markers. For the 12 marks I talked about how controlling inflation may worsen the current account deficit, and for the 15 marker I mentioned external costs, the 2008/9 bank rescue package and moral hazard!

Reply 243

em.M123

8

yes!! thank you - this is along the lines of what i wrote so glad someone else is on the same page

Original post by mustardsauce

yes finally someone who has understood the word IMPACTS and not policies implemented to reduce it, very common mistake.

Reply 244

username4385726

12

Original post by mustardsauce

yes finally someone who has understood the word IMPACTS and not policies implemented to reduce it, very common mistake.

Could use policies for evaluation?

Reply 245

Nsbfbsidnfnf

6

I know I’m not wrong but I just want you to explain why you think I’m wrong. A fiscal deficit does imply high rates of govt spending. Therefore you can link it to an AD shift and then bring it Keynesian economic theory to back it up. My second point is entirely relevant and analysed and evaluated fully contextualised to the question. I thought we were over this but how can you even try and correct me after you put down conglomerate integration in paper 1. Come on now

Original post by FrontOfficeBllr

Not really. His third paragraph is the only one thats relevant.

(edited 4 years ago)

Reply 246

username4385726

12

The issue I had was that I wrote 4 points with 2 evaluations (I should have used 3😭)and graphs and a judgement. (25 marker)
Is alright that I left 2 evaluations out?

Reply 247

Nsbfbsidnfnf

6

It’s level marked so depends how deep you’re evaluation was and how good your conclusion was

Original post by ChemEng456

The issue I had was that I wrote 4 points with 2 evaluations (I should have used 3😭)and graphs and a judgement. (25 marker)
Is alright that I left 2 evaluations out?

Reply 248

username4385726

12

Original post by Nsbfbsidnfnf

It’s level marked so depends how deep you’re evaluation was and how good your conclusion was

Couldn't graphs be used as evaluative points? Would that count and the graph being explained as well

Reply 249

TOP GG

2

For question 8 about the fiscal deficit

I said that:
Point 1:
With a fiscal deficit the govt will not have enough money or tax revenue to improve public services such as healthcare and education and then talked about a chain on how that would effect the economy

Point 2: as my country was primary product dependent I talked about that with a deficit thee government would not have enough money to implement a buffer stock scheme as they will not be able to buy up any excess supply. And then talked about how this would lead to fluctuating prices in commodities and how that would effect the economy.

Not sure if this is right and I'm actually panicking someone pls help. Would this be ok?????

Reply 250

chieula2301

OP

17

Could someone please enlighten me what are the impacts of deficit and national debt?

Reply 251

LeonDH

9

A budget deficit doesn't mean the government isn't spending any money. It means that it is spending more than tax revenues, so there may be healthcare, education spending (as in the UK which runs a budget deficit) but some of this is being financed by government borrowing.

Original post by TOP GG

For question 8 about the fiscal deficit

I said that:
Point 1:
With a fiscal deficit the govt will not have enough money or tax revenue to improve public services such as healthcare and education and then talked about a chain on how that would effect the economy

Point 2: as my country was primary product dependent I talked about that with a deficit thee government would not have enough money to implement a buffer stock scheme as they will not be able to buy up any excess supply. And then talked about how this would lead to fluctuating prices in commodities and how that would effect the economy.

Not sure if this is right and I'm actually panicking someone pls help. Would this be ok?????

Reply 252

Nsbfbsidnfnf

6

It’s a few hours late for that isn’t it?

Original post by chieula2301

Could someone please enlighten me what are the impacts of deficit and national debt?

Reply 253

ssssssssssssss

1

Also u can talk about the current account - countries with a domestic savings gap will accrue foreign debt obligations to finance debt servicing costs, causing a surplus on the financial account and a widening of the current account deficit. When they ask about the effect on the economy, u usually have to talk about unemployment growth current account inflation etc

Original post by LeonDH

A budget deficit doesn't mean the government isn't spending any money. It means that it is spending more than tax revenues, so there may be healthcare, education spending (as in the UK which runs a budget deficit) but some of this is being financed by government borrowing.

Reply 254

Nsbfbsidnfnf

6

Sorry what

Original post by ssssssssssssss

Also u can talk about the current account - countries with a domestic savings gap will accrue foreign debt obligations to finance debt servicing costs, causing a surplus on the financial account and a widening of the current account deficit. When they ask about the effect on the economy, u usually have to talk about unemployment growth current account inflation etc

Reply 255

ssssssssssssss

1

essentially countries have to borrow from other countries to finance debt if there aren't enough loanable funds in their own countries - worsens the current account

Original post by Nsbfbsidnfnf

Sorry what

Reply 256

ssssssssssssss

1

Also u can talk about whether the debt is foreign denominated or not - a country with a fixed currency regime may have to internally devalue if it doesn't have enough foreign exchange reserves to finance their foreign debt

Original post by ssssssssssssss

essentially countries have to borrow from other countries to finance debt if there aren't enough loanable funds in their own countries - worsens the current account