Economics Exam Advice

My experience with 30 mark questions 



This is a advice sheet for writing essays which was given to me. Please keep in mind this is not my content.

UNIT 2 EXAM TECHNIQUE  

There will be a 30 mark question on each Unit 2 exam paper.
30 mark questions have two main components: 18 marks for analysis and a further 12 marks for evaluation.
Tips on how to construct an answer to a 30 mark question are detailed below.
You are expected to write one to two sides of A4 for your answer.
Analysis (18 marks)
    • Define any key terms/policy/policies
    • AS/AD Diagram + explanation
    • Further analysis could include:
    • Explanation of how policy/polices work to achieve their aim (answer the question set).
    •  Explain the effect on the government’s macroeconomic objectives
    • Discuss any multiplier effects – you should illustrate this on a diagram
    • Discuss any long-term supply-side effects – again, you could draw a diagram to illustrate
    • Discuss any current affairs knowledge you may have to back up your point
Evaluation (12 marks)
3 – 4 evaluation points – could include discussion of:
  • Time lags – i.e. impact of policy/scenario may take time to feed through into the wider economy
  •  How the policy is funded – any opportunity costs involved
  • Short-term versus long-term effects
  • Comparison with other economic policies
  • Any negative effects of the policy (economic or social) & impacts on other markets
  • Is there an impact on inequality? – i.e. who is made better off/worse off?
  • Impact of the policy depends on the elasticity of the AS curve and the initial and new equilibrium point
  • Depends on ceteris paribus – all other things being equal in the economy – e.g. a major recession in the USA will affect the UK and the impact of the policy under discussion
  • Full impact depends on the size of the multiplier
  • Conflicts between macroeconomic objectives
 
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