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Monday, 10 June 2013

Examination Questions guesses!

I have given it some thought and here is what I think is most likely to come up:

The EU - What are the benefits and drawbacks of UK leaving the EU (or staying in). Could also be benefits and drawbacks of being in the Eurozone...don't get those two mixed up!.

Austerity Vs stimulus question - what are the benefits and drawbacks of this policy. Rather than just focus on effects on the UK, I suggest you look at effects on Greece et al.

Protectionism - it's on the increase: what are the economic impacts of this (this could be effects on both developed and developing countries). What are the advantages & disadvantages of free trade?

Development - factors hindering development will be there in some form or other. Remember, it is important to look at effects of development on both the developing countries AND the developed. Remember to mention the development models when answering a question on this topic.

Trading Blocs - do they increase globalisation or decrease? (you can argue both ways). Also, remember the rise of bilateral agreements around the world. Is this reducing the importance of the blocs?

Unemployment - when discussing policies to improve this, remember to include what types of unemployment you are trying to improve.

Fiscal, monetary & supply side - please be familiar with these and how effective they are given the current economic climate.

Finally: remember when discussing macroeconomic objectives, be relevant. Inflation and balance of trade are not the most pressing issue at the moment...fiscal debt, employment creation and econ growth are.

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