Economics essay help!!!!!!!!!! Please reply ASAP (1 Viewer)

[chocolo]

Just wondering how would one tackle this essay question:

Discuss the effectiveness of economic policies in achieving the Australian government's economic objectives.

It's actually from the 2012 Hsc paper, q28

Please reply asap !!!!!!

Thanks

 

[si2136]

Talk about the macroeconomic policies

Monetary

Fiscal

And talk about it's affectiveness

Refer to recent data

EDIT:

Syllabus Points: H1, H2, H5, H7, H8, H10

 

[shona99]

I would also throw in microeconomic because it says economics policies as a whole. I would probably have a few paragraphs on the theory of FP, MP and microeconomic + the objectives. mention that they can be achieved simultaneously because it'll help you structure your essay in terms of the different examples of what FP, MP and microeconomic policies have and how effectively it achieves the objectives (that is, if you want to structure your essay like that. from experience, if you write according to the objectives then it could become repetitive)

 

[meDAawesome]

Just wondering how would one tackle this essay question:

Discuss the effectiveness of economic policies in achieving the Australian government's economic objectives.

It's actually from the 2012 Hsc paper, q28

Please reply asap !!!!!!

Thanks

Discuss: Identify issues and provide points for and against the effectiveness of economic policies in achieving economic objectives

Economic objectives: economic growth, inflation, unemployment, external stability and if you have time distribution of income and environmental sustainability

Economic policies: Fiscal, monetary, microeconomic reform.

I would structure it like this.

One short paragraph for each fiscal, monetary and micro explaining what they are not more than 300 words total.

Then for each economic growth, inflation and unemployment etc, link the relevant economic policies and state where have they been effective, where have they failed to be effective, what limitations do each of the policies have in achieving this objective (eg. time lags, political constraints etc) giving relevant statistics and examples. For example monetary policy is not very effective at achieving a more equitable distribution of income or environmental sustainability but is very effective at controlling inflation (be sure to mention future limitations of low interest rate levels).

I would say this essay is quite a long one approx 1200 words.

 

[iStudent]

You can write a tonne on this essay q.

As others have mentioned,

Fiscal

Monetary

Microeconomic policies

For each, briefly talk about how they work then paragraphs noting their relevance to ALL the economic objectives (eco growth, unemployment, inflation, etc...). For random ones like environment, some of the policies are probably not effective - so you would mention that it's not effective somewhere in your essay. If they are effective, then mention it and back it up with stats and explanation as to why they are effective. I would make sure to include the Phillip's curve (trade off between unemployment/inflation) amongst other things (see Dixon/Riley). Also include limitations (time lags, etc.) if you can.

That's the general approach to this essay anyway. You can write a lot (maybe even 2k+). Remember: there's no harm in writing a lot - as long as it's relevant and you're not sacrificing too much time in doing this essay q for others. Don't restrict yourself to writing only 800-1k words - when you could potentially finish MCQ/Short answers in 1 hour and have 1 hour for each essay.

Good luck!