Circular Flow of Income

A good study tool:

http://www.s-cool.co.uk/a-level/economics/aggregate-demand-and-aggregate-supply/revise-it/the-circular-flow-of-income

The Banking Crisis - how can you use the circular flow to explain why credit crunch slowed the economy down?

A complex interactive made simple - just slide the savings ratio upwards and study what happens:

http://econviz.org/macroeconomic-circular-flow-visualizer/

How do Banks that work fix this? What should you also be sliding upwards to match the increase in savings?

A2 Economics Exam

Practice Tests

There will be a one hour data response question on fiscal and supply side concepts for Unit 4 and a one hour exam question with a mix of multiple choice and data questions for Unit 3 on the following dates in the gym:

13 EC C Tues 12 Nov 1-3pm

13EC E groups Weds 13 Nov 8.45-10.50am

These tests will be completed under exam conditions, please remember to bring black pen and calculator. Please ensure you are there 10 minutes before the start of the practice test.

A2 Tax and Spend

Study Textbook  Anderton Chapters 77 and 78 and Answer worksheets 93, 94, 97 and 98 

Why Tax?
Identify key types of government spending?
Draw an indirect tax on tobacco diagram - indicate incidence of tax for producer and consumer
Produce an expansionary fiscal policy diagram and a separate contractionary diagram.
Using a Lorenz curve indicate pre and post tax lorenz curves, what has happened to the gini co-efficient?
Using two diagrams illustrate discretionary counter cyclical fiscal policies to combat positive output gap and negative output gap scenarios.
What are automatic stabilisers?
What is the multiplier?
What is The Accelerator?

Canons of Tax
How do the canons apply to a fat tax?
http://www.economicshelp.org/blog/5056/economics/pros-and-cons-of-fat-tax/

Answer Q1 and Q2 page 530 Anderton.

Essential A2 6EC04 prep: Keeping up to Speed in Development Economics

Use this highly useful Tutor2u resource:

http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-keeping-up-to-speed-in-development-economics

Remember it is essential that you apply real world examples in your analysis and evaluation so that you can provide extensive responses that Answer The Question (ATQ).

AS Balance of Payments

Study Anderton (yellow book chapter 34, purple book Chapter 32) or Powell (Chapter 22 - ignoring AS/AD analysis) on the Balance of Payments and take notes for sharing in class. Also make use of this excellent AS resource on the Balance of Payments:

http://www.economicshelp.org/blog/5776/trade/

Answer all of worksheets 92 and 93.

Using real world examples: QE Explained

For each policy used in Edexcel Economics you need to provide a real world example - usually UK for a Developed country at AS level and at A2 a Developing and Developed countries.

In looking at monetary policy check out these Videos:

BBC - http://www.bbc.co.uk/news/business-15198789

Bank of England - http://www.bankofengland.co.uk/monetarypolicy/pages/qe/default.aspx

Independent Study - comment on a specific UK Fiscal policy and UK Supply Side policy, remember to leave your name.

Unit 2 model answer - small data questions

Please take a look at the following Video I have put together for how you go about picking up the marks for 4 - 12 mark responses. I will shortly be creating ones for 30 marks and Units 1, 3 and 4. Will try to do something about the text size on new ones; in the meantime paper copies of the model answers have been distributed via AS lessons and are available to resit students.

http://www.youtube.com/playlist?list=PL6D9DF329A0D693C6