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Home > Edgenie Sunday Schroll: Newsletter > This Is One Reason Why Your Marks Aren't as High as They Should Be 📉

Welcome to the 60th edition of our Newsletter EdGenie's 📜 Sunday Scroll...

Every Sunday I send out actionable tips, tricks and real-world application insights from my 15 year experience coaching students to achieve As and A*s in their Economics A Levels via EdGenie.

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This Is One Reason Why Your Marks Aren't as High as They Should Be 📉

Hey Genies 🧞‍♂️

Let's talk about something really important that could be holding you back from higher grades.

Examiners do not like you using the same chain of reasoning to reach your conclusion e.g. improved current account, even if the outcome is what the question asks for.

A lot of you are guilty of this.

Here's the problem:

When you're answering a question, it’s easy to make two points that seem different, but they actually follow the same logical path.

The examiners want variety in how you get to your outcome, not just different methods leading to the same result.

Let me show you what I mean.

What Not To Do:

Question: Discuss how the government can reduce a current account deficit.

Point 1: "The government could raise interest rates to reduce consumer borrowing and spending, which would reduce the demand for imports, improving the current account balance."

Point 2: "The government could increase taxes, reducing disposable income and therefore lowering consumer spending on imports, helping to improve the current account balance."

See the problem?

Both points are different on the surface—interest rates vs. taxes—but they both reduce consumer spending and target imports basically in the same way. Even though the outcome is the same, the chain of reasoning is too similar, and this won’t generate the marks you need.

What To Do Instead:

Here’s how you fix itensure your points have different chains of reasoning.

Point 1: "The government could raise interest rates to reduce consumer borrowing and spending, which would lead to a lower demand for imports. This would directly improve the current account balance by reducing the value of imports relative to exports."

Point 2: "The government could introduce supply-side policies, such as investing in education and infrastructure, to improve the productivity of domestic industries. By making UK businesses more competitive, this could lead to increased exports, which would help reduce the current account deficit."

See the difference?


Both points now target the current account deficit but use completely different reasoning to get there.

Point 1 focuses on reducing imports, while Point 2 focuses on increasing exports through supply-side improvements.

Two distinct chains of reasoning. Two different approaches.

So here’s the key takeaway:

Variety in your argument is everything.

Don't repeat the same chain of reasoning, even if the result is correct.

Focus on ensuring that each point brings something new to the table in how you reach the outcome.

This one change alone could push you up from a B or C to an A or A*.

Cheers to more varied, deeper answers!
Emre 🧞‍♂️

​The world’s most innovative country

Summary

🇨🇭 Switzerland ranks first in innovation: According to the Global Innovation Index by WIPO, Switzerland leads, outperforming even the US and China.

📊 Broad innovation metrics: The index measures innovation using both "outputs" like patents and "inputs" such as R&D spending and engineering graduates.

💡 Small nations can outperform: Smaller countries like Switzerland rank higher because metrics are scaled to their population and GDP, allowing them to outshine larger nations like America and China.

📈 Rich nations dominate: Countries with a higher GDP per person tend to rank higher, but exceptions like India (39th) and China (11th) punch above their economic weight.

🌍 Innovation boom stalls: After significant progress in 2020-2022, global innovation has slowed, with declines in patent filings, scientific publications, and venture capital deals in 2023.

🇨🇳 China’s venture capital struggles:
Despite rising in the rankings, China faces difficulties in venture capital, with investors hesitant to take risks and new solutions being sought by the government.

📉 Decline in scientific output: In 2023, scientific publications fell by 5%, marking a slowdown in global innovation after years of growth.

💼 Venture capital decline:
Venture capital deals dropped by 9.5% in 2023, with their total value plummeting by 39%, reflecting reduced investment in new ventures globally.

🇮🇩 Fastest climbers: Countries like Indonesia, Mauritius, Saudi Arabia, Qatar, Brazil, and Pakistan have rapidly improved their positions in the innovation rankings over the past five years.

A Level Economics Questions:

Q. Explain how Switzerland can rank higher in innovation than the United States and China despite having a smaller economy.
​ ​A. Switzerland ranks higher because the Global Innovation Index adjusts for population size and GDP. Although Switzerland produces fewer patents than the US and China, it excels relative to its small size, making it more innovative per capita.

Q.Explain the relationship between a country’s GDP per capita and its ranking in the Global Innovation Index.
​​
A. Higher GDP per capita is generally correlated with higher innovation rankings, as wealthier countries can invest more in R&D, education, and technology. However, countries like India and China are exceptions, as they outperform based on innovation relative to their economic development.

Q. Discuss the impact of the global slowdown in innovation, as seen by the decline in patent filings and venture capital deals in 2023.
A. The global slowdown in innovation may signal reduced economic growth potential, as fewer patents and lower venture capital investments could lead to slower technological advancements. This decline may also impact industries reliant on innovation for competitiveness, such as technology and pharmaceuticals.

Q. Evaluate the long-term implications of declining R&D investment by the world’s largest corporations on global innovation trends.
A. Declining R&D investment by large corporations may slow the development of new technologies, which could stifle productivity growth and economic competitiveness. In the long term, this may widen the gap between countries that continue to innovate and those that fall behind, potentially exacerbating global economic inequalities.

Possible A Level Economics 25 Marker Question

Evaluate the significance of emerging economies like Indonesia and Brazil climbing in the Global Innovation Index rankings. (25 marks)

Infographic of the Week

Top 10 Countries Driving Future Population Growth

By 2037, the global population is expected to reach nine billion, with nearly half of the growth concentrated in just 10 countries. According to data from the United Nations, five of these nations are in Africa and four in Asia, with India leading the list by adding 147 million people, equivalent to the population of Russia. Nigeria, Africa’s most populous country, follows, with a projected growth of 65 million. Other key contributors include Pakistan, the Democratic Republic of the Congo, and the United States, the only country outside Asia and Africa on the list. These nations will account for 49% of global population growth, underscoring the pivotal role of Asia and Africa in shaping future demographics.

Chart of the Week

Global Robotaxi Services: Where Can You Ride One?

Robotaxis, the first real-world application of self-driving cars, are operational in several cities despite public and regulatory concerns following recent accidents, such as a Cruise robotaxi crash in San Francisco. In the U.S., Waymo operates driverless taxis in cities like San Francisco, Los Angeles, Phoenix, and Austin, while Cruise has suspended services in six cities. Meanwhile, China is leading the charge, with Baidu's Apollo Go operating 400 robotaxis in Wuhan and other cities like Guangzhou, Shenzhen, Shanghai, and Beijing also hosting public trials. Additionally, WeRide runs trials in Abu Dhabi and Singapore. While services are growing, many robotaxis remain limited to specific areas, times, or distances, and some have on-board or remote safety operators to oversee operations.

Macroeconomic Data


Whenever you're ready there is one way I can help you.

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Join EdGenie 🧞‍♂️: Transform your A-Level Economics essays and exam marks (genuinely) with our comprehensive on-demand learning platform. This carefully curated course blends engaging content with effective exam techniques, the same ones that have empowered over 1,000 of my students to achieve an A or A* over the last 13 years. 
A huge thanks for hopping on board EdGenie's Wednesday Wisdoms newsletter! 
I'm Emre, and I've got a big goal - to make A* education accessible to all A-level students.
And it Starts With You!

Emre Aksahin
Chief Learning Officer at Edgenie