Assess the effectiveness of fiscal policy in the Australian economy (1 Viewer)

[User5555555]

What does the verb 'Assess' mean? Its bad of me as a student as I've never studied before in my life but this is worth 15% of my economics HSC mark and I'm beginning to worry. Basically, I have notes and dot points for the advantages, disadvantages and outcomes of fiscal policy implementation but I'm not sure how to put it into an essay form. I've glanced at my peer's essays from a distance and see them implementing graphs so I'm not sure if I'll be up to scratch so yeah. My teacher had also said that putting in graphs would give a better understanding.

 

[Constantine]

Let's get the whole graph in essay for Economics is crucial for high marks misunderstanding out of the way first. It only counts if your graph is relevant and you can explain it in relation to the question. Don't do it if you're not confident in it and you'll just end up wasting your time especially in the exam room.

For an assess essay if you can tick this off throughout your essay then you'll be good to go:
- Identify / Define
- Describe
- Explain
- Discuss / Compare / Contrast
- Analyse
- Value / Worth of it, give reasons

So if the question is something among the lines of assess the need for fiscal policies, the key to getting high marks would be your personal assessment on the value of it based on your advantages and disadvantages. It's never a bad idea to link in some real life examples to prove your point in Economics.

If you're keen to do a graph then just make sure it covers how the aggregate demand shifts, quantity of money changes as a result of increased/decrease in taxes or increased/decreased government spending.

Correct me if I'm wrong.