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Hey guys, how did your paper 2 go? I'm not sure which time zone I had but there was question concerning Indonesia in section A and Singapore in section B. Did you find it difficult?

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Mine had South Korea and Singapore compared to another country.

 

It was easy compared to my paper 1.

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Paper 2 is unexpectedly easy (compared to last year May and November). 

3 minutes ago, #teamnosleep said:

Oh my god! I chose the Indonesian case in Section A and the Singapore vs Timor Leste case in Section B too! How did you guys find it? 

I chose the Section B for Singapore vs Timor Leste (TZ2). For Section A, I chose the Indonesian case too! High 5 :D The questions are relatively easy but there isn't too much things for anyone to be comparing anything about, HDI? really? From all the data? There isn't much space for students to apply their economic  knowledge into the D part question. However, I am confident to get a 6 for Economics HL. 

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I don't remember for sure, but was the HDI comparison question about the usefulness/relevance of assessing countries economic development??

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1 hour ago, ebu said:

I don't remember for sure, but was the HDI comparison question about the usefulness/relevance of assessing countries economic development??

I did that! I found it quite tricky actually :/ 

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1 hour ago, Ishika said:

I did that! I found it quite tricky actually :/ 

What did you write for it??  I said mainly how it would discourage FDI and business confidence....

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I guess it was another time zone then, but I attempted questions 2 and 4. Q2 was about the threats of a current account deficit in the long run probably in India, and Q4 was about the mixture of free-market and interventionist policies in Rwanda. I found time-management difficult, and could not write an effective conclusion for part d) of Q4. Ran out of time. Hoping for not too harsh grade boundaries. 

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3 hours ago, sajtkukac12 said:

I guess it was another time zone then, but I attempted questions 2 and 4. Q2 was about the threats of a current account deficit in the long run probably in India, and Q4 was about the mixture of free-market and interventionist policies in Rwanda. I found time-management difficult, and could not write an effective conclusion for part d) of Q4. Ran out of time. Hoping for not too harsh grade boundaries. 

Did the exact same questions and also found it very hard time-wise and I think I messed up one of the graphs in question 2. I had nearly no time for d of 4 so I have no idea if I did well

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@inriya: Hahahaha yeah it was okay for me. I think question D for section B asks about economic development of both countries from the HDI data and yeah there wasn't much to talked about really. I wrote about how Timor Leste's average years of schooling is much lower than Singapore's and with more schooling you can have a more qualified human capital that can contribute to the potential output of the economy thus leading to economic development. I also did compare several other factors such as the lower rate of foreign investment in Timor Leste would contribute to lower HDI values as foreign investment would be useful to boost development and the higher mortality rates would lessen the number of potential human capital for the economy, therefore contribute to Timor Leste's lower HDI rank compared to Singapore's. I think I also added that the fiscal policy that Timor Leste gov't is implementing would boost Timor Leste's s economic development further as it encourages gov't spending on education, infrastructure, etc and if proven successful, Timor Leste's HDI position would improve.

I hope it's sufficient enough.

@ebu: If my memory serves me correct, isn't it about comparing both HDI data and how it relates to their economic development?

 

@JamVaun: Which HDI factors did you use for your evaluation?

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3 hours ago, #teamnosleep said:

@inriya: Hahahaha yeah it was okay for me. I think question D for section B asks about economic development of both countries from the HDI data and yeah there wasn't much to talked about really. I wrote about how Timor Leste's average years of schooling is much lower than Singapore's and with more schooling you can have a more qualified human capital that can contribute to the potential output of the economy thus leading to economic development. I also did compare several other factors such as the lower rate of foreign investment in Timor Leste would contribute to lower HDI values as foreign investment would be useful to boost development and the higher mortality rates would lessen the number of potential human capital for the economy, therefore contribute to Timor Leste's lower HDI rank compared to Singapore's. I think I also added that the fiscal policy that Timor Leste gov't is implementing would boost Timor Leste's s economic development further as it encourages gov't spending on education, infrastructure, etc and if proven successful, Timor Leste's HDI position would improve.

I hope it's sufficient enough.

@ebu: If my memory serves me correct, isn't it about comparing both HDI data and how it relates to their economic development?

 

@JamVaun: Which HDI factors did you use for your evaluation?

 

Life expectancy, education and purchasing power parity....I just didn't mention much about its effect on human capital which is stupid considering its so obvious....

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@JamVaun: Ah damn, I totally forgot about purchasing power parity :lc:.  I'm pretty sure you'll do fine, as long as you have all the other questions covered. Aside from writing how Timor Leste's HDI discourages FDI and business confidence, did you write about anything else? Which question did you choose for Section A?

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22 minutes ago, #teamnosleep said:

@JamVaun: Ah damn, I totally forgot about purchasing power parity :lc:.  I'm pretty sure you'll do fine, as long as you have all the other questions covered. Aside from writing how Timor Leste's HDI discourages FDI and business confidence, did you write about anything else? Which question did you choose for Section A?

 

Ye hope so...I said that its reliance on primary resources (petroleum) means that it will need to invest in other goods and services production like SIngapore (banking services and high mark up goods). I also mentioned about the benefits of trade vs aid with developing nations (although cant realy remember why because it doesnt seem to make sense now) and compared East Timor to Nigeria and Veneuela (again can remeebr why). Im just really annoyed about forgetting to mention human capital...For section A i chose question 1 (not indoensia) but cant remember what it was???

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40 minutes ago, JamVaun said:

For section A i chose question 1 (not indoensia) but cant remember what it was???

I think it was the question about South Korea's currency. At first I chose to do it, but after 20 minutes I realized that it's too difficult for me (the article was written in a way that I wasn't sure if the value of of Korea's currency went down or appreciated) so I crossed out everything and started doing question about Indonesia. And because of that I had some problems with time management so I'm not sure if I did everything correctly

Edited by Dawid

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20 minutes ago, Dawid said:

I think it was the question about South Korea's currency. At first I chose to do it, but after 20 minutes I realized that it's too difficult for me (the article was written in a way that I wasn't sure if the value of of Korea's currency went down or appreciated) so I crossed out everything and started doing question about Indonesia. And because of that I had some problems with time management so I'm not sure if I did everything correctly

 

Oh fair enough, but im pretty sure south Korea's currency was appreciating and that's why their exports were falling (I really really hope!) I also loved the question about drawing an exchange rate diagram in 1 and didn't really understand the topics in 2 (Indonesia one)

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21 hours ago, JamVaun said:

What did you write for it??  I said mainly how it would discourage FDI and business confidence....

Well, as far as I remember the question asked to determine the relevance of the components of HDI on economic development, while comparing and contrasting the informations. That is why I spoke about the education factors and health care factors, and how relevant they are in assessing economic development. I'm not very certain that is the right approach, though. I might've lost all the marks for that one.

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8 minutes ago, Rohan Kalwani said:

For the second question (Indonesia) in paper 2, what diagram did you draw for the part about falling commodity prices in Indonesia and its effect on export revenues?

I did a demand and supply diagram showing inelastic demand and a proportionally bigger decrease in price than increase in qd.. You? :)

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19 minutes ago, Rohan Kalwani said:

I did a demand supply diagram as well. I showed a shift in the supply curve leading to a proportionally bigger decrease in price than increase in qd. Is that what you did?

Yes! I showed that the shift in supply caused a decrease in price which was proportionally bigger! 

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1 hour ago, Malino said:

I did a demand and supply diagram showing inelastic demand and a proportionally bigger decrease in price than increase in qd.. You? :)

For the slump in commodity prices I did a demand and supply diagram at first too, but then I crossed it out because I thought that maybe the slump referred to commodity prices in the world and thus Indonesia's export revenues decreased as they couldn't compete at the world price. I guess I was wrong? :(

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