AQA Paper 2 Exam Preparation

Overview

• Focus on hot topic areas for Paper 2 exams, potentially for Paper 3 as well.
• Allocate 10-15% more revision time to these topics.
• Balance focus on these with overall course content for well-rounded preparation.

Important Topics for Revision

1. Free Trade and Protectionism

• Free Trade Pros & Cons: Post-Brexit UK aims to champion free trade through international deals.
• Protectionism Pros & Cons: Themes include Trump's tariffs, Biden's protectionist policies, and impact on climate industries.

2. Exchange Rates

• Global trend of exchange rate depreciation: UK, Euro, developing countries, and Japan.
• Dollar Exception: Strong until recently.
• Euro Zone Expansion: Croatia joined on January 1, 2023.

3. Balance of Payments

• Focus on current account deficits and surpluses.
• Under-revised but important for AQA exams.
• Countries to consider: UK, USA, Turkey (deficits), China, Germany (surpluses).

4. Development Economics

• Recent themes: foreign aid cuts and their impacts.
• Revise interventionist policies, trade vs. aid for development.

5. Macro Policy

• Expansionary Policies: Fiscal and monetary; supply side policies for growth.
• Contractionary Policies: Focus on developed world’s high interest rates, rising budget deficits, austerity.
• Fiscal Policy Debates: Tax cuts vs. tax rises in the UK.
• Importance of context: upcoming videos on UK macroeconomic themes.

6. Macro Indicators

• Focus on deflation and inflation: causes, consequences, costs, and benefits.
• Recent examples: China's deflationary spiral, rampant UK inflation.

7. Financial Markets

• Importance of regulation for macroeconomic stability.
• 2023 interest rate rises and subsequent bank failures.
• UK post-COVID savings ratio increases: pros and cons.

Study Tips

• Watch all videos in the "Revision for 2025 Exams" playlist.
• Balance focus on highlighted topics with comprehensive course coverage.
• Stay updated with new uploads geared towards maximizing exam performance.

Conclusion

• Focus on these hot topics to secure top grades.
• Continue watching upcoming videos for in-depth understanding and context.
• Prepare for a diverse range of essay questions by understanding key themes and contexts.