See: behavioural economics. I really want to know the difference between discussion questions and analysis questions and how to answer them in a correct way to get good credit in Economics. Analysis just involves one sided answers while Discussion questions involve using two points of view.
What is the best method of structuring an Economics Essay
The evaluation points in this article are really useful! The thing I struggle with is analysis and application. I have all the knowledge and I have learnt the evaluation points like J-curve analysis and marshall learner condition, but my chains of reasoning are not good enough. I will try the shorter sentences recommended in this article. Like how would you evaluate without just stating the disadvantage? Your email address will not be published. Leave this field empty. Skip to content. Understand the question Make sure you understand the essential point of the question.
For example: Q. In plain English. Discuss the effect of falling house prices on the economy Discuss the effect of falling interest rates loose monetary policy on economy In effect, there are two distinct parts to this question. Write in simple sentences For clarity of thought, it is usually best for students to write short sentences.
A Level Economics 25 Mark Question Essay Template by annadavis23 | Teaching Resources
What is the impact of higher interest rates? Simple sentences help you to focus on one thing at once, which is another important tip. Answer the question Quite frequently, when marking economic essays, you see a candidate who has a reasonable knowledge of economics, but unfortunately does not answer the question. Discuss the impact of Euro membership on UK fiscal and monetary policy?
Macro-evaluation Depends on the state of the economy — full capacity or recession? Time lags — it may take 18 months for interest rates to have an effect Depends on other variables in the economy. Higher investment could be offset by fall in consumer spending. The significance of factors. Consider the impact on all macroeconomic objectives.
For example, higher interest rates may reduce inflation, but what about economic growth, unemployment, current account and balance of payments? Consider both the supply and demand side. For example, expansionary fiscal policy can help to reduce demand-deficient unemployment, however, it will be ineffective in solving demand-side unemployment e. However , if confidence is high, higher interest rates may not actually discourage consumer spending.
AD falls from AD1 to AD2 However , if there is already a slowdown in the economy, rising interest rates may cause a recession. AD3 to AD3 Micro-evaluation 1. The impact depends on elasticity of demand In both diagrams, we place the same tax on the good, causing supply to shift to the left. When demand is price inelastic, the tax causes only a small fall in demand. If demand is price elastic, the tax causes a bigger percentage fall in demand. Time lag In the short term, demand for petrol is likely to be price inelastic.
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Depends on market structure If markets are competitive, then we can expect prices to remain low. Depends on business objectives If a firm is seeking to maximise profits, we can expect prices to rise. Behavioural economics In economics, we usually assume individuals are rational and seeking to maximise their utility. By Tejvan Pettinger on October 28th, in. Leave a Reply Cancel reply Your email address will not be published.
These answers will help you understand what is required to get an A grade. A-Level Economics Essays quantity.
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Categories: essays , Single User. Description Description Model essays will help Essay writing technique. How to answer the question asked.
How to evaluate questions which require it. The essays were all written exclusively for this pdf guide. Do such deficits matter?
Discuss alternative policies for reducing unemployment. Discuss factors that may limit economic growth rates in different countries.