Eight more (Edexcel) Synoptic Practice Questions | tutor2u Economics

Here are eight more synoptic practice questions for Paper 3 Edexcel.

New Practice Essay Titles

Synoptic Economics

Question 1: Housing and the UK
The level of new housebuilding in the UK is currently well below what most experts predict will be needed to meet the needs of a growing economy, an expanding population and changing social conditions. According to current projections, an average of 210,000 new households will form in England in each year between 2014 and 2039. At least 250,000 new homes need to be built each year.

Assess the microeconomic and macroeconomic policies that might be effective in increasing new house-building in the UK (25)

Question 2: The Productivity Puzzle
Historically, UK labour productivity has grown by around 2% per year but since the 2008/2009 recession it has stagnated. The level of labour productivity in 2017 was 1.3% above what it was over 10 years earlier in 2007 (the pre-recession peak level).

Evaluate the micro and macroeconomic influences on the rate of growth of labour productivity in the UK economy (25)

Question 3: Raising Employment across the Regions
Employment levels vary widely across the UK regions and countries. The UK region with the highest employment rate in 2017 was the South East at 78.8%. Northern Ireland had the lowest employment rate at 69.0%. This represents a 9.8 percentage point difference between the region with the highest and lowest employment rate. The UK-wide employment rate over this same period was 74.7%.

Assess the microeconomic and macroeconomic policies that might be most effective in increasing employment rates in regions of the UK. (25)

Question 4: Competitiveness of the UK Motor Industry
There were 1.75 million vehicles producedin the UK in 2017, 1.67 million of which were passenger vehicels and 78,000 of which were commercial vehicles. The UK motor vehicle manufacturing industry contributed £15.2 billion to the economy in 2017, 0.8% of total output, but 8.1% of manufacturing output. 75 million vehicles were produced in the UK in 2017, 80% of which were exported
The value of exports totalled £34.3 billion in 2016, but imports totalled £40.8 billion, so a trade deficit of £6.6 billion was recorded.

Examine the microeconomic and macroeconomic influences on the global competitiveness of the UK motor vehicle industry (25)

Question 5: Tackling Income Inequality
In 2017, 41% of all disposable household income (before deducting housing costs) in the UK went to the 20% of people with the highest household incomes, while 8% went to the lowest-income 20%. In the UK, inequality in household incomes has remained at a roughly similar level since the early 1990s, but is higher than during the 1960s and 1970s. Recent projections by the Institute for Fiscal Studies and by the Resolution Foundation suggest that levels of income inequality are likely to increase over the coming years into the early 2020s, in a scenario where government policy does not change.

Evaluate the microeconomic and macroeconomic policies that the UK government might use to prevent a further rise in income inequality in the UK over the coming years (25)

Question 6: UK Trade with the European Union
The EU, taken as a whole is the UK’s largest trading partner. In 2017, UK exports to the EU were £276 billion (44% of all UK exports). UK imports from the EU were £347 billion (53% of all UK imports). The UK had an overall trade deficit of £72 billion with the EU in 2017. A surplus of £14 billion on trade in services was outweighed by a deficit of £96 billion on trade in goods. EU tariffs are generally low but are high on some goods, especially agricultural products.

Evaluate the possible microeconomic and macroeconomic effects on the UK of leaving the EU customs union. (25)

Question 7: UK Farm Subsidies
2016 data shows that total income from farming (TIFF) fell by 8% in real terms year-on-year to £3.6 billion equivalent to around £18,000 per full-time person in farming. This followed a decrease of 29% in 2015. Since the decoupling of payments from production in 2005 TIFF hasn't exceeded £5.5 billion, though trends follow a similar pattern to subsidies and other payments. The total value of direct subsidy payments to farmers in the UK was £2.8 billion in 2016.

Discuss the microeconomic and macroeconomic effects on the UK economy of cutting subsidies to farmers. (25)

Question 8: Gambling in the UK economy
Total spending on gambling in the UK in 2017 (£m)
Arcades:  £424m
Betting:  £3,353m
Bingo: £686m
Casinos £1,133
Remote betting, bingo and casino £4,721
National Lottery £2,978
Lotteries £441m

Evaluate the microeconomic and macroeconomic impact of the rise in gambling on the UK economy (25)

Synoptic Economics Essay Booklets

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