A2: Should we leave the EU?

Tutor2u have the following good resources for this type of exam question; click here:

http://www.tutor2u.net/blog/index.php/economics/comments/uk-membership-of-the-eu-a-chance-for-students-to-make-nigel-farage-laugh-or


It is also worth considering how you can use this resource for any question concerning the EU -i.e. adavanges of EU membership and the risk of the EU breaking up as it faces difficulties with austerity measures and the Euro.

AS Economics Unit 2 Glossary

Tutor2u have a final revision resource, click here: http://www.tutor2u.net/blog/index.php/economics/comments/as-economics-macroeconomics-key-term-glossary

A2 Revision Sessions

Monday lunchtime surgeries will run from Monday 13 May - going over basic content

Tuesday after School exam skills and redo sessions

Monday 3rd June pre exam briefing ECON 3 Exam– period 1.

Tuesday 4th June 1.30pm ECON 3 Exam

Weds 5th June ECON 4 Revision period 4 and 5

Monday 10th June  pre exam briefing ECON 4 Exam– period 1.

Tue 11 June 9am ECON 4 Exam

All in Room 1

AS Revision Sessions

Unit 1
Friday 10th May; Room 1
Lunchtime: Elasticities  - understanding them and interpreting the figures; Externalities; and Supply and Demand diagram practice
Period 5 - exam techniques how it affects economic agents - Government, Consumer and Firm.

Unit 2
Getting basic content right: Tuesday 14 May - period 2 room 9 and period 3 room 1 - National Debt, Oil Price shocks etc

Ensuring exam technique is spot on: Thursday 16 may - period 1 room 11 and period 2 room 13.

Multiplier

With exams approaching fast worth thinking about the impact of government spending cuts:

http://www.youtube.com/watch?v=0CjNlyiDAno&list=PLB19E61D93CD7E354&index=2

A really good question for AS and A2 Economics.

QUESTION

Hi sir, I just have a question regarding external influences on the national economy. I don’t quite understand why it has such an influence, whilst I understand that say, if America were to go into recession it would affect our trade, but our exports make up such a small fraction of our aggregate demand, so I can’t get my head around why it has such a great effect. Could you explain some of the other outcomes if this were to happen?

Thanks, Taylor.

ANSWER

Very good evaulative points raised Taylor.

The reasoning behind the old saying: 'If America sneezes the UK catches a cold" is because some of our UK firms that are export based may risk closure and job losses. Also US decline will affect the whole world, China slows down as well, so even our trade to non US economies will be damaged. Plus the negative export multiplier effect. This may then damage confidence leading to falls in C and I.

In addition Investment Income by UK firms in USA and elsewhere will decline as well.

  

Mr Gray

Tim Harford's talk

If you enjoyed Tim's talk at our A Level Economics Conference then listen in to a few of his Pop Up Economics podcasts on the BBC:

http://www.bbc.co.uk/podcasts/series/thpop