hi sir, just a few questions. we were told to have strictly one point referring to macro points and another to discuss micro - is this valid? , also there was not any diagrams used in your answer so are they necessary for 25 markers?
100% not! Unfortunately not the greatest advice! You base it on what the question asks. Do not try to tick a box by doing one macro and one micro, you’ll notice that none of the mark schemes consider this! Regarding diagrams, I would recommend a diagram! In my answer I could have included the following: - AJ/LF curve - Lorenz Curve - PPF shift or LRAS - economic cycle with automatic stabilisers - crowding in effect - AD double shift to highlight accelerator
Here is an example: Year: June 2020 Question: After considering Extract D, and the original evidence in Extracts A, B, and C, would you recommend that the government implement a further substantial increase in the National Living Wage? Justify your recommendation [25} I have marked a paper and felt the feedback given would be useful. Accurately said that such a policy, based on the information presented in the data would result in real-wage unemployment. The argument was well analysed and backed up with evidence but only focused on a macro aspect when there were micro arguments, which may have provided greater insight. As the NLW is the central focus and it is the legal minimum amount you can pay a worker, it goes across all different labour markets in that given country. So yes, it could result in real-wage unemployment, but would it create greater unemployment in certain markets and should we consider the wage elasticities? Could we even consider impact in potential monopsony markets? This then enables greater analytical and evaluative insight. This therefore takes on both a macro and micro outlook, which is relevant and not forced.
Another great video! Would recommend for anyone wanting to do well in their A-levels!
hi sir, just a few questions. we were told to have strictly one point referring to macro points and another to discuss micro - is this valid? , also there was not any diagrams used in your answer so are they necessary for 25 markers?
100% not! Unfortunately not the greatest advice! You base it on what the question asks. Do not try to tick a box by doing one macro and one micro, you’ll notice that none of the mark schemes consider this! Regarding diagrams, I would recommend a diagram! In my answer I could have included the following:
- AJ/LF curve
- Lorenz Curve
- PPF shift or LRAS
- economic cycle with automatic stabilisers
- crowding in effect
- AD double shift to highlight accelerator
Here is an example:
Year: June 2020
Question: After considering Extract D, and the original evidence in Extracts A, B, and C, would you recommend that the government implement a further substantial increase in the National Living Wage? Justify your recommendation [25}
I have marked a paper and felt the feedback given would be useful. Accurately said that such a policy, based on the information presented in the data would result in real-wage unemployment. The argument was well analysed and backed up with evidence but only focused on a macro aspect when there were micro arguments, which may have provided greater insight. As the NLW is the central focus and it is the legal minimum amount you can pay a worker, it goes across all different labour markets in that given country. So yes, it could result in real-wage unemployment, but would it create greater unemployment in certain markets and should we consider the wage elasticities? Could we even consider impact in potential monopsony markets? This then enables greater analytical and evaluative insight. This therefore takes on both a macro and micro outlook, which is relevant and not forced.