Broad economic objectives essay questions (1 Viewer)

[ngrfgt]

In a tonne of past HSC and trial papers I've been seeing a tonne of "broad" economic objectives essay questions like "Evaluate the effectiveness of fiscal policy in achieving Australia’s economic objectives" or "Evaluate the effectiveness of monetary policy in achieving Australia’s economic objectives".

How do you approach these questions? Do you break it down into each of the 6 objectives and go through the effectiveness of policies dealing with them individually? That seems like it could be a bit much but I don't really see another feasible way of doing it, unless you were to look at the effectiveness of the particular policy in a broader sense and then maybe talk about its limitations, but this seems a bit too general and unspecific.

Help pl0x

 

[atargainz]

For broader questions like these you would want to pay attention to the mark scheme, generally these questions are 4-6 marks. For a short answer question you wouldn't need to talk about all 6 objectives (i'd suggest picking 3-4 depending on mark scheme), but you do need to give details into the various ways that the policy can be used to influence different objectives. Also as you've stated they are generally evaluate questions so you're right in mentioning limitations, but also don't forget to make a judgement.

 

[dathat]

I'd say you could focus on the three main objectives, economic growth, unemployment and inflation (and perhaps external stability) then sketch in general terms about the others. But do comment in the intro or somewhere why you're focusing on only these three.

 

[ngrfgt]

Ok, thanks for the clarification.