Theme 2: Tutor2U assessment week mark scheme

Attached is the paper 2 mark scheme for the section A questions you completed.

Mark Scheme edexcel Practice Paper 2 from mattbentley34

All Themes: Past papers with mark schemes

I have just stumbled across this website which has answers to essays from way back....useful for revision, as the questions are not dissimilar to what you might get this year.

Click here to access.

Theme 2 & 4: Essay question on Fiscal policy (June 2007)

Pat exam question on Unit 2/4 stuff. As you will be tested on fiscal policy this year, it is useful for revision. Hand in Sunday please

a) 3 pts, 3 evaluation - approx 22 minutes in the exam (1 1/2 sides)
b) 4 pts. 4 evaluation - approx 33 minutes in the exam (2 1/2 sides)

(a) Between 1999 and 2001 the UK had a fiscal surplus but from 2002 there has been an increasing fiscal deficit. Examine the likely causes of this trend. (20)

(b) Evaluate the likely economic effects of an increasing fiscal deficit for the UK economy. (30)

Theme 1 & 3: How to answer short answer questions from the A level paper 1

Examiners require you to have three elements in your answers:

• Knowledge – this is usually identification of different points OR definitions of key theories.
• Application – you need to provide examples illustrating your economic theory OR identifying some facts from the information provided. Make sure that your examples are ALWAYS related to the examples used in the question.
• Analysis – here you need to refer to the impact or consequences of the theory you have discussed OR provide a benefit or cost of the theory discussed.

Here is an example to make you understand better what you are required to do:

Briefly explain the market structure in the grocery industry in the UK for the period shown. (5)

Knowledge – this market is an oligopoly, where a few large firms dominate the market.

Application – the 4 firm concentration ratio is 73.4%, showing that the 4 largest firms, Tesco, Asda, Sainsbury's and Morrisons control more that half of the market.

Analysis – As a result it can be inferred that the market is highly concentrated and there are likely to be high barriers to entry and exit from the industry.

Given the changes made in your A-level exams, you have to be extra careful when it comes to the structure of your answers. Make sure you do not miss any of the above stages, to ensure you score the highest of marks.

Unit 4: June 2012 Past Paper

Jun 12 from Matthew Bentley

Unit 2: Macro Economics Past Paper

Jun 07 unit 3 inflation, fiscal, monetary policy from Matthew Bentley

Unit 2: Balance of trade presentation & Past Paper Practise

Balance of payments_trade from Matthew Bentley

This paper focus' on many macro concepts. The area I want you to look at today is the current account balance of payments questions from Q1.

Jan 08 unit 3 investment, balance of payments, supply side, monetary policy, infalation from Matthew Bentley

All Units: Sample assessment material - Question papers & mark schemes

A few of you have asked for the mark scheme from the mock paper. The paper was taken from the sample assessment material. I have attached the file below. Please take some time to check the mark scheme for unit 4, before asking me to go through your essays.

Thank you

Sample economics papers with mark scheme from mattbentley34

Unit 4: Growth & Development in Ethiopia 2

All,

I see already that 8 people have viewed the previous post (good work). When the rest of you catch up, look at a Unit 4 Essay on development and try and include the piece on Ethiopia.

I guarantee that those who do, will get great marks come the summer. Foe example, here is a question from June 2010:-

NB: A 30 mark question requires 4 points and 3 evaluation (Although, I would always look at 4 & 4)

(b) Evaluate four ways in which economic growth and development might be
promoted in developing countries. (30 Marks)

Unit 4: Past essay questions

Not here today so please complete the following essay.

(a) Examine the likely factors which affect decisions by multinationals to invest in EU countries.
(20)

(b) The UK has been the largest recipient of inward foreign investment within the EU in recent years. Evaluate the benefits of such foreign investment for the UK economy.
(30)

Unit 4: Model Paper - 120 UMS from June 2010

As promised, here is Nadia Sheikh's paper from June of 2010. Not perfect by any means, but it highlights what is required to gain top marks...

A model paper - 120 ums Unit 4 June 2010 from mattbentley34

Unit 3: Game Theory - Explained with model answer

Today's lesson will focus on game theory. We will look at a definition, some examples and you will work through a past paper in groups.

Group 1 - Michael, Sam, Aadil & Brendan
Group 2 - Karl, Mariah & Klaus
Group 3 - Aaish, Rebecca & Anthony

Click here to access the presentation on 'Game Theory'....

June 11 Past Paper - we will focus on Q10 C...

Unit 3 - Jun 11 from mattbentley34

Mark Scheme

Jun 11 Q10 c mark scheme from mattbentley34

Examiners report & Model Answer: June 11 Q10 C...

Examiners report June 11 Q10 c from mattbentley34

June 13 Past Paper - We will focus on Q9 D...

Unit 3 - Jun 13 from mattbentley34

Unit 4 Macro: Is Norway suffering from Dutch Disease? + Past questions

Norway has for many years recorded an enviable macroeconomic performance. It regularly tops the international rankings for the Human Development Index (HDI) and it has one of the highest figures for GNI per capita (PPP) among developed nations. 

It records huge current account surpluses in excess of 10% of GDP each year and strong growth and surging revenues from oil and gas production have given the Norwegian government a fiscal position that many other countries would die for!  Unemployment is the lowest of any European country.

That said there are some signs that the economy is suffering from an over-dependence on oil and gas - it is at risk of the Dutch Disease? 

The Dutch Disease is the idea that economic growth from exploiting and exporting natural resources can crowd out investment in other sectors, in part due to a strengthening exchange rate which causes a sharp rise in relative unit labour costs. High wages are also seen as a factor behind a trend decline in the average hours worked and a rise in the drop-out rate from high school education.

Manufacturing wages in Norway have climbed by more than 150 per cent since 1997 against just 50 per cent in the US and Germany They are now 60-70 per cent higher than the weighted average of Norway’s trading partners, meaning “that for every hour worked here we need to be 60 per cent more productive”. (FT, 7 Feb 2014)

This Financial Times video report looks at some of the issues facing Norway.

Past questions 

*(a) To what extent is primary product dependency a constraint on economic growth
and development in developing countries? (20)

*(b) Evaluate four ways in which economic growth and development might be
promoted in developing countries. (30)

*(a) Assess the significance of three factors which might limit economic development in developing countries. (20)

*(b) Discuss debt cancellation and trade liberalisation as alternative means of promoting economic development in developing countries. (30)

Case study question - June 2013, Question 5.

Unit 4: Homework question on exchange rates

Please complete the following part a) essay question for Monday 20th (that's BEFORE you go on MUN)!

The value of the pound rose from £1 = €1.05 in May 2008 to £1 = €1.26 in November 2012. Examine the factors which might explain this appreciation of sterling against the euro.

Remember 3 points and at least 2 evaluative points for an A* answer.

Unit 3: Past Questions on 'Game Theory'

Past Questions on Game Theory

Jan 11:

Game theory can be used to illustrate which of the following examples of competitive

behaviour?

A Price leadership in perfect competition

B Revenue maximisation in monopolistic competition

C Limit pricing in monopolistic competition

D Tacit collusion in oligopoly

E Price discrimination by a monopolist.

Jun 10 Q9 Part C – 12 Marks

Jun 11 Q10 Part C – 12 Marks

Jan 12 Q9 Part D – 16 Marks

Jan 12 Q10 Part C – 12 Marks

Jun 13 Q9 Part D – 16 Marks

Unit 4: De-Globalisation Question - Mark scheme

b) Examine the macroeconomic impact faced by a developed and a developing country of this de-globalisation trend. (30 Marks)

Here are the salient points I would include in an essay of this kind:

Define De-Globalisation

Discuss impact of less trade and rising protectionism on countries employment, inflation, current account, econ growth etc.

Issues would possibly include - rising prices due to less efficient production, trade creation within blocs, trade diversion away from developing nations, improved current account for developed, possibly worsening from developing (they tend to be exporters and this could fall), unemployment issues in developing world etc etc

The question should have some sort of comparison between the developed & developing countries. It is likely that developing would suffer more as the developed countries move toward self sufficiency.

You must use examples where appropriate - ie More protected agriculture within the EU will make it even harder for African nations to trade, the Chinese will suffer as exporting to EU & States becomes harder and more expensive. (Solar Panels)

Any comments with additions to what you might want to write will be gratefully accepted....

Unit 4: Past Essay Questions & Mark Schemes

See below for some old Unit 6 essay questions. The Unit 4 essay questions are exactly the same style and mark scheme, they are just marked out of 20 & 30.

Take a look at them and try and think of how the questions would differ if written today. For example, many of these were written well before the financial crash, when economies around the world were booming......therefore the objectives would be different (reducing inflation rather than encouraging growth for example)

  Economics Mark Scehems Unit 6 by Byron Lu Morrell

Unit 4: Practice Essay Questions

Unit 4 Essay Questions (Part b only)

You will all be completing one of these in the lesson today - it would be useful if, over the next two weeks, you attempt them all (there is only globalisation missing from this list - I am assuming you are happy with this area)


In several countries there has been increasing pressure for protectionist policies. Evaluate the likely economic implications of an increase in protectionism by the EU. (30 Marks)

Evaluate the likely economic effects of a decision by the UK to withdraw from the EU. (30 Marks)

Assess the effectiveness of supply side & fiscal policies to create economic growth and reduce unemployment in a country of your choice. (30 Marks)

Assess the economic effects of a significant increase in tax on the UK economy. (30 Marks)

Evaluate the factors which could improve the international competitiveness of UK’s goods & services. (30 Marks)

Assess the economic impact of prolonged austerity policies within the EU. (30 Marks)

Evaluate the economic effects of a significant fall in the value of the Euro against sterling. (30 Marks)

Evaluate four ways in which economic growth and development might be promoted in developing countries. (30 Marks)

To what extent is reducing the number of people living in absolute poverty sufficient to achieve economic development? (30 Marks)

Evaluate the economic effects of an increase in foreign direct investment on a country of your choice. (30 Marks)

Evaluate the economic effects of a significant rise in the value of the Chinese Yuan on the world economy.(30 Marks)

Unit 4: Past question

Better late than never. Apologies for the wait. However, this is a possible question, given the recession EU has been in recently....Mark scheme tomorrow......

(a) The number and size of trading blocs, such as the European Union, have increased in recent years. To what extent does this trend conflict with the aims of the World Trade Organisation? (20)

(b) In several countries there has been increasing pressure for protectionist policies. Evaluate the likely economic effects of an increase in protectionism by the EU. (30)

Unit 4: Essay on De-Globalisation

De-Globalisation has been a feature of global economics for the last five years. Here is a possible essay question on the topic.

a) Assess the main reasons why interdependence between countries has declined in the last 5 years. (20 Marks)

b) Examine the macroeconomic impact faced by a developed and a developing country of this de-globalisation trend. (30 Marks)