Economic Essay - HELP!!! (1 Viewer)

[BunJai]

Halo everyone!

I need some help on my economic essays...
If u have to write something for inflation and unemployment what stuff are u gonna put in?

Bcoz in my assessment essay, i put down stuff about the economic growth, the CAD and the exchange rate......and i only got 14/20

Can someone tell me what else I should put in to get higher marks?

 

[Striker]

depends on the question. can you be more specific about what the question is asking?

what stuff exactly on economic growth, cad and the exchange rate did you talk about?

just all basic theory? trends and statistics? impacts and effects?

 

[lexie]

if its about inflation and unemployment, you might have to assess the success with which macro and micro policies have been implemented. also, im guessing you'd have to discuss the relationship existing between inflation and unemployment...conflicting policies and outcomes...philips curve

but thats a pretty wide scope, youd have to see what the question entails

 

[Minai]

yes lexie's rite
if ur doin a question on inflation and unemployment, or any of the economic issue for that matter, u need to first talk about what it is, the domestic trends (stats n stuff), how the government has responded to them (micro/macro polices) and how effective they are/have been (again, compare stats)

thats basically a general guide for any broad economic issue question

 

[BunJai]

THANK YOU!

Thanks guys for your help.....

After I read what lexie said, I've realised where I have done wrong in my essay, because I barely quote stats. I know that this disadvantages me.
THANK YOU!!!!!!

 

[-=«MÄLÅÇhïtÊ»=-]

If its on inflation and unemployment, you shouldnt be answering it with CAD and exchange rate! It mean it kinda fits in with cost push inflation, but it shouldn't be anything close to your main focus.

Talk about the types of inflation, its causes, the rba target range, trend and impact of high inflation - once inflation is above 3%, the gov will tighten monetary policy, this will link with growing unemployment (cyclical).
Then talk about the relationship between inflation and unemplyment. High inflation->low unemployment, vice versa. So a compromise has to be reached.

Then you can go into dept about stagflation.

 

[-=«MÄLÅÇhïtÊ»=-]

sowie, typo

"It mean it kinda fits in with cost push inflation, but it shouldn't be anything close to your main focus."

should be I mean it kinda fits in with cost push inflation, but it shouldn't be anything close to your main focus.

 

[p00_p00]

Originally posted by BunJai
Halo everyone!

Can someone tell me what else I should put in to get higher marks?

um "suck" up 2 the teacher.... if u know wat i mean!