How do I plan this out? (1 Viewer)

[Carl5]

Can someone give me a general idea of how to structure it all?


"Analyse the federal government’s macroeconomic policy mix to address inflation and unemployment in the Australian economy"


This was my plan, but I'm really unsure about it:

1. Intro: Macro economics policies definition for both Fiscal and Monetary policy
2. How they're implemented
3. Then do I write about it's effects on ALL aspects, or just narrow it to inflation and u? (Or is this even in here at all? Do I go straight to the mix?)
4. Then bring in info on the current mix and their effect on inflation + employment

I'm just so confused when it comes to economics essays. I I think I need example essays specific to the questions to really understand it... That or something explains it here haha.

 

[krnofdrg]

Intro: good what you said ^^

Bodies: Just get into the point straight away (Don't mention all aspects, the question specifies inflation and unemployment only)

How they're implemented just mention it briefly before you begin each body.

-Body 1: How fiscal affects unemployment (Expansionary stance boosts AD-> less unemployment-> Support with evidence when government did this.. vice versa) <-- repeat process each body for them.
-Body 2: How monetary affects unemployment (Expansionary monetary-> less unemployment, more jobs created in economy.. vice versa)
-Body 3: How fiscal affects inflation
-Body 4: How does monetary affects inflation (Higher i/r lead to lower inflation and etc)

remember to include some trends ...

I think you may throw in LRPC and SRPC since it's on inflation and unemployment.. not too sure on this one.. can someone confirm with me?

 

[krnofdrg]

Can someone give me a general idea of how to structure it all?


"Analyse the federal government’s macroeconomic policy mix to address inflation and unemployment in the Australian economy"


This was my plan, but I'm really unsure about it:

1. Intro: Macro economics policies definition for both Fiscal and Monetary policy
2. How they're implemented
3. Then do I write about it's effects on ALL aspects, or just narrow it to inflation and u? (Or is this even in here at all? Do I go straight to the mix?)
4. Then bring in info on the current mix and their effect on inflation + employment

I'm just so confused when it comes to economics essays. I I think I need example essays specific to the questions to really understand it... That or something explains it here haha.

just get straight to the point.. You don't get extra marks for mentioning other aspects.

 

[Carl5]

Thank you so much! This is will help me greatly! I use to always get top marks for my essays, but the questions were a lot more simple and stuck to one topic/situation (e.g. unemployment). Then we got a question like this in our trials. I wrote about 7 pages on it because I wasn't sure what to include and what not to include, and got marked down by a lot because it lost it's structure, even though he said I used statistics well to back up all my points.

Time to write some essays!

 

[krnofdrg]

Some tips:

Excessive growth in AD-> (Caused by expansionary stances)-> Demand pull inflation

Cost push (Supply inflation)-> As workers demand more in high periods of economic growth (Caused by expansionary)

I think you could add these ^^ im not sure.. ..

Also you could macro policies are ineffective in long run to counter fluctuations in business cycle as economy returns to natural rate of unemployment and the trade off beteween inflation and unemployment disappears