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Another day, another word beginning with 'd'

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Today was probably the hardest day I'd been expecting throughout the exam period; and it didn't go too badly. Two economics papers and one physics.

The first economics paper did not go well. A2 Microeconomics; the first question was on the labour market (which I had failed to revise [headshake]), and while I got the basic stuff (minimum wage increases worker pay at the expense of jobs) I couldn't say very much about the interesting stuff (e.g. monopoly/monopsony). The second question was a little better; I picked an essay on competition and barriers to entry, and on the effects of removing barriers to entry to the utilities market (water/gas/electricity/etc).

The second economics paper was much better. A2 Macroeconomics; though to be honest, it felt like a second Europe paper. The whole of the first question was about the Euro, and the exchange rate - I had a beautiful moment when floating exchange rates suddenly just made sense, and explaining them felt like writing a game development thing. Lots of stuff about "exchange rates account for differences in buying power" (shoulda said 'purchasing power,' crud) "between different currencies." Woo.

The second question was just plain fun - "What would be the effects on the UK economy if the Eurozone and USA were to go into simultaneous recession?" I answered that one while grinning evilly. Firstly, foreign direct investment in the UK would soar (anyone investing in the Eurozone/USA would get their money out and away from the deflation and imminent interest rate cuts, and put it somewhere like the UK instead). Secondly, international trade might not actually suffer too badly - demand for foreign goods falls in a recession (because you're not buying your fancy foreign cars or whatever), but the currency appreciates, so those foreign goods become cheaper anyway. Even if that isn't enough to balance things out, the currency appreciating makes exports to the UK more expensive, so UK consumers buy fewer of them - thereby reducing the M term in C+I+G+(X-M). Woot.

Actually, I think a lot of that logic's bollocks, but oh well. It looked nice, used a lot of good economic language, and there were graphs. Oh yes, there were graphs. *rubs hands together in glee*

The last exam, Physics, was the "synoptic paper" - they can question you on any area of the syllabus, from any module, from the whole of the two-year course. They mix areas together in the same question. Two thirds of the paper are based on an article that you get sent a few months before the exam; this time, it was on neutrinos, which was... kinda... interesting... Big-time kudos to my physics teacher, though, who managed to predict with scary accuracy the questions they were going to ask. I think I did pretty well on it, overall - hopefully it'll offset my crap performance in the second physics paper that I did a couple of weeks ago.

Aside from that I've done little today, I'm sorry to say. Went out for a kebab after the physics exam - a little congratulatory kebab, you understand - and started setting up CVS for something Fed and I are working on. Day of the Dead will happen tomorrow night or Wednesday, I think...
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