Write an essay: Discuss the statement ‘through demand management policies, the government does more harm than good’. What innovations in macroeconomics have occurred in order to try and improve policy?
I include a marking scheme below and this provides detail as to what to expect in a general essay based assessments. For more guidance around this scheme, specifically I will be looking for the following items:
The use of economic analysis: remember this is an economics essay and therefore the economic analysis and economic principles should come first. This is most easily demonstrated through using graphs (as they stand out quite well) and specifically making reference to economic principles (for example, allocation, demand and supply, diminishing marginal returns, etc.). The essay should at least make reference to some point of the textbook (attached in zip).
The use of external resources: although the economic concepts are meant to drive everything, using external resources adds weight and empirical reference to your arguments. What I am really looking for is an application by you to analyzing a specific issue using economic principles, and using external resources is a good demonstration of this. Remember that academia is really a skill of ‘standing on shoulders of giants’ by which it is meant that the first thing you should do is understand what others have said and think.
Structure: make everything clear and concise and have a clear narrative. The best way to do this is to have a clear structure from the outset. The structure should be:
o Introduction
o Applicationoftextbookeconomicideaso Empiricalobservationsandexternalresources
o Conclusions
Clarity of argument: in all your work, try and have one clear narrative running through your work. You do this by stating your argument in the introduction and then systematically returning to this throughout the main body. You may think that you are being clear and subtle, but often, this is not the case.
There will also be 5 marks available for self-reflection. At the end of your essay (on the final page – after your references and any appendices you might have) you will be required to both give your essay a mark you would anticipate to receive and the reason for this. This is an exercise to engage and reflect on the quality of your work. Marks will be given for the depth of your reflection on the strengths and weaknesses of your essay and for how accurate these are. Note that the self-reflection does not contribute towards your word count.
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