Here are the AS (ie year 12) Macro and Microeconomics papers for 2018 with answers. Some great practice to be had at multiple choice, short answers and some longer answers. PLEASE DON’T WORRY ABOUT BREAKDOWN OF MARKS / FORMAT OF ANSWER ETC., These are just here for knowledge practice / retrieval of those subjects you may have done months ago but need a refresher.

Macro……

2018 Macro AS Question Paper AQA

2018 Extracts for 2018 AS Macro Paper (refered to in question paper above)

2018 Macro AS Mark Scheme AQA

Micro…..

2018 Micro AS Question Paper AQA

2018 Extracts for 2018 AS Micro Paper

2018 Micro AS Mark Scheme AQA

Summer Term

Macroeconomic Policy (“MEPO”) conflicts between objectives and Introduction to Phillips Curve 12C

Macroeconomic Policy (“MEPO”) conflicts between objectives and Introduction to Phillips Curve 12D

The Phillips Curve relationship between Inflation and Unemployment 12C

The Phillips Curve relationship between Inflation and Unemployment 12D

Advance Year 13 work – Globalisation (Yes still part of Y12 end-of-year exams)

Reading pages 153-159 in the AQA Macro course companion

PDF slides for Globalisation (Introduction, Cartoons and Mini Moke challenge)

Globalisation word doc causes and characteristics of Globalisation

Globalisation ppt Groups affected by Globalisation – developed and developing world 12C

Globalisation ppt Groups affected by Globalisation – developed and developing world 12D

Globalisation MNCs and Tax Avoidance 12C

Globalisation MNCs and Tax Avoidance 12D

Trade Blocs diagrams on board 12D

Trade Blocs diagrams on board 12C

Deglobalisation and Brexit – Mark Carney former head of Bank of England

Some useful Acronyms:

MacroEconomic Policy Objectives (“MEPOs”)

GRUBI (Major Objectives)
EGO IN (Minor Objectives)

GR – Maximise Economic Growth

U – Minimise Unemployment

B – Neutral or Sustainable Balance of Payments in Long Run

I – Low and stable Inflation

E – Protect Environment consistent with Economic Growth

GO – Neutral Government Budget (Ie Tax Revenue about same as Expenditure in Long Run)

IN – Minimise Income Inequality

Things that move the SRAS curve = STOPCOW

S = Subsidies

TO = Taxes (On Firms – Indirect and Corporation Tax)

P = Productivity (Output per worker hour of input)

CO = COmmodity Prices and Currency Value

W= Wages

Things that move the LRAS curve = GREATCARD

Remember LRAS is POTENTIAL Economic Growth -> Output achievable if all resources are fully and efficiently employed

GR = Removal of Govt Regulation may increase Potential Economic Growth, lowering costs of Compliance to things like ULEZ / Health and Safety Legistlation (but Heads Up – lack of Regulation may introduce Moral Hazard and very occasional disasters like GFC)

E = Education…..More Ed = More Productivity / Inventions / Innovations by LABOUR; better choice, higher consumer utility, lower costs

AT = Advances in Technology = More Productivity / Inventions / Innovations FOR CAPITAL; better choice, higher consumer utility, lower costs

C = Competition / ContestAbility – how are markets structured. Generally speaking the higher the intensity of competition, the more efficient, better deal the consumer gets, and the more competitive is the pricing, product etc. in domestic and export markets, hence more contestability = LRAS moving right

R = Relative Productivity – Optimising the Mix of Land, Labour, Capital and Entrepreneurship, as Technology / Work patterns advance. This can only occur in the Long Run when all factors of production are flexible. [World history has been dominated by the increase in the use of Capital, but leaps forward are also made with improvements in Gender Equality, increasing potential workforce and access to (higher) Education]. Political beliefs affect organisation – Communist (Command) economies prefer to involve more Labour in production, to soak up pools of Unemployment, at the cost of potentially lower productivity.

D = Demographics – Composition of the workforce (and population in general) has dramatic effects on Long Run Supply. Migration, Wars, Baby Booms / Aging Population or Young Working Population, Effects of diseases like AIDS and COVID all affect ability to supply.