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Hi! These are my A-Level notes, essays and resources I used to sit the 2018 summer exams, in AQA Psychology, AQA Economics and AQA English Literature (achieving A*A*A). Hope you find these useful.
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Hi! These are my A-Level notes, essays and resources I used to sit the 2018 summer exams, in AQA Psychology, AQA Economics and AQA English Literature (achieving A*A*A). Hope you find these useful.
Economics
AQA Economics A-level: example 25 mark essays (A* grade)
AQA Economics A-level: Example 25 mark essays - specification 7135, 7136
Includes 25 mark essays:
Assess whether you agree that governments should subsidize companies who are developing cars which run on clean fuels such as hydrogen (25 marks)
Assess whether you agree that the government should give financial assistance to firms producing cars in the UK to increase their competitiveness (25 marks)
Assess whether you agree that the implementation of pollution permits could play a role in reducing global warming (25 marks)
Discuss the view that falling unemployment will inevitably lead to trade-offs with other macroeconomic policy objectives (25 marks)
Evaluate policies that the government could use to reduce obesity, referring to classical solutions such as taxes, subsidies and regulations, and behavioural solutions such as nudges and default choice (25 marks)
Using your knowledge of behavioural economics and neoclassical economics, evaluate the possible policies that could be used to reduce congestion in the UK’s cities. (25 marks)
Evaluate the view that imposing a tax is the most effective government policy for reducing the market failure arising from overconsumption of unhealthy food and drink (25 marks)
Using the extracts and your economic knowledge, assess whether you agree that fixing a maximum price for energy that is sold households is the best way of dealing with market failure in the UK energy industry (25 marks)
Using the extracts and your economic knowledge, assess the view that inequality is ‘good for us all’ (25 marks)
9 and 15 mark essays:
With the help of a diagram, explain how export subsidies may help promote economic growth in India (9 marks)
Explain how government policies can reduce the natural rate of unemployment (15 marks)
Explain why, in a free market, sugary drinks may be overconsumed (15 marks)
Essay plan
To what extent do you agree that expansionary monetary policy is always effective in creating economic growth? (25 marks)
AQA Economics A-level: Financial Markets
AQA Economics A-level: Financial Markets, specification 7135, 7136
*I achieved an A in my Economics A-level in 2018, across all three papers. These are the notes I used for theory-based learning of the specification
Includes:
Functions of money and the money supply
The role of financial markets - capital vs money, foreign exchange
Debt vs equity
Market interest rates and bond prices
Commercial vs investment banking - objectives of each
Central banks and monetary policy - contractionary vs inflationary and evaluation
The Monetary Policy Committee (MPC) and considerations - evaluation of the MPC
The transmission mechanism of monetary policy
Bank of England and monetary supply - QE and Funding for Lending Scheme (FLS)
Regulation of financial markets - PRA, FPC, FCA
Why banks fail - moral hazard, liquidity vs capital ratios, systemic risk
Implications of intervention, evaluation of regulation
Bundle
AQA Economics A-Level (A* Notes, Essay Examples and Plans)
AQA Economics A-level: specification 7135, 7136
*I sat my Economics exam in summer 2018 and achieved A star grades across all three papers. Here is a bundle of all my content/theory notes and 25 mark essay examples and plans!
Includes:
Paper 1 - Micro
Economic Problem and Methodology
Supply and Demand
Production, Costs and Revenue
Market Structure
Labour Market
Income and Wealth
Market Mechanism, Market Failure and Government Intervention
Paper 2 - Macro
Macroeconomic performance
Aggregate Demand and Aggregate Supply
Economic Performance
Financial Markets
Fiscal and Supply Side
International Economy
Paper 3 - Synoptic
Synoptic practice questions
AND *A Example 25 mark essays and practice questions covering:
**
Includes 25 mark essays:
Assess whether you agree that governments should subsidize companies who are developing cars which run on clean fuels such as hydrogen (25 marks)
Assess whether you agree that the government should give financial assistance to firms producing cars in the UK to increase their competitiveness (25 marks)
Assess whether you agree that the implementation of pollution permits could play a role in reducing global warming (25 marks)
Discuss the view that falling unemployment will inevitably lead to trade-offs with other macroeconomic policy objectives (25 marks)
Evaluate policies that the government could use to reduce obesity, referring to classical solutions such as taxes, subsidies and regulations, and behavioural solutions such as nudges and default choice (25 marks)
Using your knowledge of behavioural economics and neoclassical economics, evaluate the possible policies that could be used to reduce congestion in the UK’s cities. (25 marks)
Evaluate the view that imposing a tax is the most effective government policy for reducing the market failure arising from overconsumption of unhealthy food and drink (25 marks)
Using the extracts and your economic knowledge, assess whether you agree that fixing a maximum price for energy that is sold households is the best way of dealing with market failure in the UK energy industry (25 marks)
Using the extracts and your economic knowledge, assess the view that inequality is ‘good for us all’ (25 marks)
9 and 15 mark essays:
With the help of a diagram, explain how export subsidies may help promote economic growth in India (9 marks)
Explain how government policies can reduce the natural rate of unemployment (15 marks)
Explain why, in a free market, sugary drinks may be overconsumed (15 marks)
Essay plan
To what extent do you agree that expansionary monetary policy is always effective in creating economic growth? (25 marks)
AQA Economics A-level: Fiscal and supply-side policies
AQA Economics A-level: Fiscal and supply-side policies, specification 7135, 7136
I achieved an A in Economics A-level in 2018, across all three papers. These notes helped form an understanding of economic theory and a critical evaluation of it*
Fiscal policy
Expansionary vs deflationary fiscal policy
Fiscal stabilisers - automatic vs discretionary
UK data for post-recession fiscal policy
Impact of fiscal policy on macro objectives and aggregate supply (evaluation)
Spending and taxation
Reasons for government spending
Types of taxation; progressive, proportional and regressive
UK data for taxation and evaluation
Arguments for and against indirect taxation (evaluation)
Budget deficit and national debt
Debt vs deficit, types of deficit: cyclical and structural
Factors influencing size of budget deficit, benefits and costs of deficit (evaluation)
Types of national debt - causes and consequences
Supply-side policies
Macro impacts of supply-side policies on growth, inflation, employment and trade
Free market supply side policies vs interventionist supply side policies
Influence of policies on natural rate of unemployment
Evaluation of supply side policies
Economics A-level: Labour market supply and demand
AQA Economics A-level (specification 7135, 7136)
Includes:
Determinants of labour demand, marginal productivity theory, elasticity of demand
Determinants of labour supply
Wage determination in perfect competition, monopsony markets etc.
Role of trade unions and impacts on market structures
National Minimum Wage, impact and evaluation
Discrimination in the labour market - conditions and evaluation
Economic methodology and the economic problem
For AQA Economics A-level (specification 7135, 7136)
Specification points: 4.1.1.1 - 4.1.2.4
Includes:
Economic methodology - positive and normative statements
Economic problem - needs, wants, scarcity etc.
Choice and opportunity cost
Economic sectors and units
Factors of production
PPF graphs and explanations of shifts
Consumer behaviour - utility theory, rationality, imperfect/asymmetric information
Behavioural economic theory and economic policies - choice architecture, framing, nudges etc.
Evaluation of behavioural economics
AQA Economics A-level: Economic performance (macro)
AQ Economics A-level: MACRO Economic performance, specification 7135, 7136
Economic growth
Short run vs long run economic growth, determinants of long run economic growth
Costs and benefits of economic growth, overall sustainability of growth
The economic cycle, trend growth, output gaps and stages
Explanations of cycle: multiplier/accelerator cycle, inventory cycle, asset price bubbles, animal spirits, herding etc.
Employment
Definitions of unemployment rate, participation rate and labour force
Measuring unemployment - claimant count vs labour force survey
Types of unemployment - cyclical, structural, frictional, classic, voluntary
Table of cause of unemployment, impact and supply side policies to overcome
Natural rate of unemployment
Costs and benefits of unemployment (evaluation)
Policies to reduce unemployment - demand side vs supply side (and evaluation)
Inflation
Measuring inflation with CPI, RPI, PPI
Demand-pull inflation vs cost-push inflation, comparison of causes
Quantity theory of money
Impact of commodity prices/global economy
Controlling inflation, demand-side policies vs supply-side policies (and evaluation)
Costs and benefits of inflation (evaluation)
Deflation vs disinflation - benign vs malevolent deflation
Benefits and consequences of deflation
Policies to avoid deflation
Conflicting macroeconomic objectives
Output gaps
Phillips curve - short-run vs long-run and implications for policy makers
NAIRU explained
Overview of potential conflicts arising from economic objectives
AQA Economics A-Level: Macro Exemplar Essay Questions
AQA Economics A-level: specification 7135, 7136
I sat my Economics exam in summer 2018 and achieved A star (A) grades across all three papers. Here is a collection of some A* grade exemplar essays.
Complete written essays included:
• Discuss the possible contribution of supply-side reforms to achieving an improvement in the UK balance of trade in goods (25 marks)
• Assess the importance of a floating exchange rate to a country trying to achieve macroeconomic stability [25 marks]
• Explain how interdependence and uncertainty affect the behaviour of firms in oligopolistic markets? (15 marks)
• ‘Increased protectionism could be damaging as the UK is placing much of its hopes for export success on the growing Chinese market’. Evaluate the view that the use of protectionism is inevitably damaging to economies (25 marks)
• Explain three characteristics of recession (15 marks)
• Discuss the view that monetary policy has been the most important factor behind the recovery of the UK economy in recent years (25 marks)
Economics A-level: Market structures
AQA Economics A-level (specification 7135, 7136)
Includes:
Objectives of firms; profit, sales, survival, growth, stakeholders etc.
Divorce of ownership from control
Allocative, productive and ‘x’ efficiency
Growth of firms; internal vs external, horizontal vs vertical vs lateral integration
Mergers and takeovers (and evaluation)
Perfect competition; conditions, evaluation and price determination
Monopolistic competition; assumptions, evaluation, comparison with PC
Oligopolistic markets - types of collusion, impact of collusion, evaluation
Kinked demand curve
Anti-competitiveness, natural/artificial barriers to entry
Monopoly power, profit maximisation, barriers to entry, evaluation
Analysing efficiency, social burden triangle
Price discrimination, conditions and evaluation
Contestable markets - conditions, market concentration, impact and determinants
Consumer surplus - determinants, price elasticity
Producer surplus - determinants
Monopsony power and evaluation
A-level Economics: Production and Productivity
AQA Economics A-level (specification 7135, 7136)
Specification 4.1.4.1 to 4.1.4.8
Includes:
Measuring productivity, impact of increased productivity
Policies to improve productivity
Specialisation and the division of labour - advantages and disadvantages
Costs of production
Law of diminishing returns, economies of scale, LRAC
Revenue and profit - function of profit
Technological change, creative destruction
Economies and diseconomies of scale (and evaluations)
Minimum efficient scale
AQA Economics A-level: International Economy
AQA Economics A-level: International Economy, specification 7135, 7136
I achieved an A in Economics A-level in 2018, across all three papers. These notes helped form an understanding of economic theory and a critical evaluation of it*
Globalisation: characteristics and causes of globalisation
Role of MNCs - benefits and drawbacks (evaluation)
Costs and benefits of globalisation (evaluation)
Trade: static vs dynamic gains, changing patterns of UK trade and World Trade Organisation (WTO)
Theory of competitive advantage, assumption, sources, absolute advantage
Specialisation and division of labour
Trade in developing countries - advantages and risks
UK membership of EU evaluation - arguments for and against
Policies to improve trade in the long run vs short run and supply side policies
Protectionism: graphs and evaluation of tariffs, quotas, export subsidies and dumping
Arguments against protectionism
The balance of payments and current account - components
Factors influencing current account deficit and balance of payment deficit
Impact of trade imbalances (evaluation)
Policies to reduce deficit - expenditure-reducing and expenditure-switching
Exchange rates - determinants, fluctuations, depreciations etc
Exchange rate equilibrium, excess demand vs excess supply
Effects of currency fluctuations on growth, inflation, employment etc.
Benefits and limitations of weaker currency
Evaluation of a devaluation - Marshall Lerner, J curve
Currency systems, free-floating, managed floating and fixed (and evaluation of each)
Global influence of currencies, brexit impact
Benefits and drawbacks of currency unions
Economic growth and development, indicators of development
Objectives of development, barriers to development
Private sector and development
Role of trade/aid in development
AQA Economics A-level: Synoptic paper practice questions
AQA Economics A-level: Synoptic (paper 3) preparation questions, specification 7135, 7136
I achieved an A in my Economics a-level in 2018, across all three papers. This document is an example of potential synoptic content, practice exam questions*
Based on brazil synoptic:
Includes example 10 mark, 15 mark and 25 mark planned essay
AQA Economics A-Level: Aggregate demand and aggregate supply
AQA Economics A-level: Aggregate demand and supply, specification 7135, 7136
Aggregate demand, relationship between price and quantity
Factors influencing AD
Evaluation of consumption, investment, government spending, net exports
Marginal propensity to consume, marginal propensity to save, multiplier and accelerator effect
Short-run aggregate supply and factors influencing SRAS
Long-run aggregate supply and factors influencing LRAS
Keynesian AS curve
Macroeconomic equilibrium - short run, long run and economic shocks
Economics A-level: Macroeconomic performance
AQA Economics A-level: The national and international economy, specification 7135, 7136.
Macroeconomic performance
Government objectives for economic performance
Conflicts in performance - e.g. growth vs inflation
Macroeconomic indicators - GDP, GNP, GNI, CPI, RPI
National income data and evaluation, purchasing power parity
Circular flow of income - leakages, withdrawal and equilibrium
Economics A-level: Income and wealth
AQA Economics A-level (specification 7135, 7136)
Includes:
Difference between income and wealth
Determinants of income inequality and wealth inequality
Measuring inequality - Lorenz curve and Gini coefficient
Evaluation of income and wealth inequality
UK income and wealth statistics
Problem of poverty - relative vs absolute poverty, causes and impact
Policies to alleviate poverty and evaluation
Supply and demand in competitive markets
AQA Economics A-level (specification 7135, 7136)
Includes:
Theory of Demand - downward slope curve, exceptions to law of demand
Price elasticity of demand and determinants
Income elasticity of demand and determinants
Cross elasticity of demand and determinants
Theory of Supply
Price elasticity of supply and determinants
Market equilibrium and disequilibrium
Economics A-level: Market mechanism, market failure and government intervention
AQA Economics A-level (specification 7135, 7136)
Includes:
Types of goods; public, quasi-public and private
Allocation of resources - price mechanism; rationing, signaling, incentive, allocative functions
Market failure - examples and eliminating failures
Merit and demerit goods
Positive and negative externalities in production and consumption
Imperfect and asymmetric information
Monopoly power
Immobility of factors of production
Government intervention - arguments for and against
Methods of intervention; indirect taxes, subsidies, minimum/maximum price, regulation
Cont. information provision, pollution permits etc.
Supply-side intervention - free market vs interventionist policies (and evaluation)
Government failure; causes, examples, overcoming government failure
Competition policy; monopolies, mergers, public ownership
Privatisation and evaluation
Regulation and deregulation