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    Hey all,
    Did anyone do the two A2 WJEC econ. exams yesterday?

    If so, what did you think of them?

    Thanks,
    Tristan Perry
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    yes i did!i did Q 1 on EC4.I obviously noticed that the mobile phone industry was an oligopoly,but when asked to describe the characteristics,it seemed as a monopoly so realy dont know what grade ill get for that!and as for EC5 i thought that that went pretty well.
    how you find it??
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    I felt it went fairly well overall Yep, I did Qu1 on EC4 as well - I never like the whole "other country economy" questions. The characteristics was a bit strange, although I talked a bit about fierce competition and non-price competition. I guess one thing that they wanted to be said (which I didn't put) was that oligopolies can set their prices (i.e. unlike perfect competition) - as shown by the high roaming charges. Didn't put that though

    EC5 was pretty good, questions 1 and 2 were straight forward enough. What sort of thing did you do for question 3? Because my teacher seems to think it's about the trade-offs/conflicts of the macroeconomic objectives, although I can't think why he said that?
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    Hi,
    Yes I did the Econ exam. The examiner made us do EC5 first so that was annoying, and when I opened it I almost cried- it was a "general paper" looking at the whole Economy- which I dont like.
    EC4 was great, could've answered both questions really!, and like trystan i forgot about mentioning price makers, though again technically they are price takers in some markets (airlines) but again with the high tariffs could say price makers- DAMN.

    Can you remind me about the questions in EC5 and tell me what you answered as to see how I did- again i felt EC5 was hard (and at AS I'm on A, A, A so need and EED to get a B or EDC for an A).

    Can I also ask how come tryst you are doing both AS and A2 level exams? are they resits or are you somehow doing it in a year???

    BUT AGAIN PLEASE GIVE ME YOUR THOUGHTS ON EC5! thanks!
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    me again!

    I've just thought- in the last question how could you say there was a trade off? as all of the data were positive except for BoP???

    and again give me your thoughts!
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    ye i didnt notice any sort of a trade off. i just went through each of the macroeconomic objectives saying how the position would allow the economy to compete with developing countries and then shifted both the AD and LRAS curve to the right!
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    (Original post by dewithomas)
    Hi,
    Yes I did the Econ exam. The examiner made us do EC5 first so that was annoying, and when I opened it I almost cried- it was a "general paper" looking at the whole Economy- which I dont like.
    EC4 was great, could've answered both questions really!, and like trystan i forgot about mentioning price makers, though again technically they are price takers in some markets (airlines) but again with the high tariffs could say price makers- DAMN.

    Can you remind me about the questions in EC5 and tell me what you answered as to see how I did- again i felt EC5 was hard (and at AS I'm on A, A, A so need and EED to get a B or EDC for an A).

    Can I also ask how come tryst you are doing both AS and A2 level exams? are they resits or are you somehow doing it in a year???

    BUT AGAIN PLEASE GIVE ME YOUR THOUGHTS ON EC5! thanks!
    Yep, general exams suck! However the questions seemed alright overall (but there was a lot to talk about in them!):

    1) How true is it that low inflation will carry on into the future

    2) Is a current account deficit always bad

    3) Assess the Chancellor's claim that the UK economy will continue to be strong in the future

    Well, it was something like that - can't remember exactly

    Also I'm only doing A2 exams this year - EC4, EC5 and EC6

    (Original post by dewithomas)
    me again!

    I've just thought- in the last question how could you say there was a trade off? as all of the data were positive except for BoP???

    and again give me your thoughts!
    (Original post by eddy_t_23)
    ye i didnt notice any sort of a trade off. i just went through each of the macroeconomic objectives saying how the position would allow the economy to compete with developing countries and then shifted both the AD and LRAS curve to the right!
    That's good to hear! It must have been my teacher going crazy then :p:
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    what did u write for the first and last questions?!? i felt they were relatively hard considering other papers i have seen...

    the last question really allowed for a variety of answers i felt!!.....
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    (Original post by stunting101)
    what did u write for the first and last questions?!? i felt they were relatively hard considering other papers i have seen...

    the last question really allowed for a variety of answers i felt!!.....
    Of EC5? If so:

    Qu 1) I just used the data for reasons why inflation might stay low - I can't remember exactly what I wrote, however the first half of the article mainly covered why inflation will remain low (IIRC)

    Qu 3) I hated this question. Again I mainly just went through the articles (using article 3 in particular), and picked up on evidence which suggests:

    a) A strong UK economy
    b) A weak UK economy

    I can't remember what I written here either, however I mostly just used the data (although for the "weak UK economy" bit I did use current figures - i.e. 3.7% predicted inflation, house prices down 2.4% in May etc)
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    ahh i seee yes for the first half of q1 i did talk about why it would remain low due to bofe being independat and how implementing monetary policy on a monthly basis can restrict inflation

    and q3 i did not pick up on weaker aspects i merely talked about global economic pressures...and inflation..ie cost push and how could have negtive consequences.. i also mentioned recent issues such as the threat of a recession in usa and how could effect uk... the saying 'when usa sneezes the rest of the world catches a cold' explain this.. aha was guessing alot..though it was way too general and prefer specific q;s on er's or development...anyhting but that case study lol!! oh well...
    ec6 here we come..shud be able to pick up marks...what q's u thinking?? the usual lol
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    They're some good points to make It sounds like we covered different ground, however as long as we both answered the question it should be fine

    As for EC6, I'm thinking we'll have:

    Qu 1) Perfect competition OR Monopoly
    Qu 2) Negative externality
    Qu 3) Unemployment
    Qu 4) A general "Which objective is most important" one (because EC5 covered inflation, balance of payment and growth, hence a more general question should come up)
    Qu 5) Developement
    Qu 6) Joining the Euro

    What do you think?
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    (Original post by tristanperry)
    They're some good points to make It sounds like we covered different ground, however as long as we both answered the question it should be fine

    As for EC6, I'm thinking we'll have:

    Qu 1) Perfect competition OR Monopoly
    Qu 2) Negative externality
    Qu 3) Unemployment
    Qu 4) A general "Which objective is most important" one (because EC5 covered inflation, balance of payment and growth, hence a more general question should come up)
    Qu 5) Developement
    Qu 6) Joining the Euro

    What do you think?

    hmm i couldnt say specidically..tbh but i think that is definately a good point to make about inflation already having been covered in ec5 so extensively it is therefore unlikely to come up as a specific question in ec6 (Y)

    im thinking perfect comp tooo..would be good i think..quite like markets..theres alot to say i think and some nice little diagrams too...

    and definately hoping for euro and development.... or a question on how the government should best reduce unemployment...loads to introduce there!!
    good luck though! cheers for the help
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    Yep, I think that they'll try to avoid a straight up question on inflation or growth, hence I do think that unemployment could come up.

    Yeah, markets are great - the diagrams give a lot to talk about, and the examiners love diagrams lol!

    Best of luck to you too, feel free to create the "WJEC EC6" thread friday (or I can) - either way, it'll be good to discuss the paper
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    (Original post by tristanperry)
    Yep, I think that they'll try to avoid a straight up question on inflation or growth, hence I do think that unemployment could come up.

    Yeah, markets are great - the diagrams give a lot to talk about, and the examiners love diagrams lol!

    Best of luck to you too, feel free to create the "WJEC EC6" thread friday (or I can) - either way, it'll be good to discuss the paper
    ahah yeh i would do i just cant seem to work out how to create a thread though?? lol if u create it i'll post in it...

    dont think u can create one until 12 hours has passed though...
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    Lol okay no prob lol! There should be a "New Topic" button somewhere though.

    Hmm, I had thought that that was only with Edexcel exams, however I'll wait a bit of time before creating the thread (e.g. that night, etc)
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    Not much studying to do on EC6- just I dont know whether if Euro will come up as it has been quite often!

    EC5
    You never discussed part B of EC5. My teacher had these points:
    • say that a deficit is only bad based on percentage, as figure was just in pounds
      deficit helps to lower exchange rate (WE pay the world, so WE supply pounds- exchange rate lowers


    TWO good points but I said neither,
    I discussed how China had Absoloute advantage against us on certain goods, we were better in R&D (as stated). Also discussed would we want to go back to the manafacturing days. And finally talked about inflation, employment and SHOULDVE talked alot about E.Growth but didnt.

    Not confident with EC5 but EC4 was real good!
    What were the questions for EC4 again?!?!
    Good luck tomorrow!
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    (Original post by dewithomas)
    Not much studying to do on EC6- just I dont know whether if Euro will come up as it has been quite often!

    EC5
    You never discussed part B of EC5. My teacher had these points:
    • say that a deficit is only bad based on percentage, as figure was just in pounds
      deficit helps to lower exchange rate (WE pay the world, so WE supply pounds- exchange rate lowers


    TWO good points but I said neither,
    I discussed how China had Absoloute advantage against us on certain goods, we were better in R&D (as stated). Also discussed would we want to go back to the manafacturing days. And finally talked about inflation, employment and SHOULDVE talked alot about E.Growth but didnt.

    Not confident with EC5 but EC4 was real good!
    What were the questions for EC4 again?!?!
    Good luck tomorrow!

    erm oligopoly characteristics... erm should they make abnormal profits...erm cant remember the rest lol..think one was on regulation

    and the other data response was a country profile did not even read it though lol!
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    Those are some good EC5 points I think I mentioned a lower exchange rate... not too sure, though.

    As for EC4, I can't remember too well. What stunting101 said is true - one was "Describe the characteristics of this market", another was "Do mobile networks only want to make abnormal profits" (or something similar). And the others were more general, take-from-the-data questions.
 
 
 

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