Extended response help? (1 Viewer)

[rsingh]

Hey guys, I'm starting to practice extended response-type questions and I'm about to start my first.

"Analyse the impact of globalisation on the economic performance of the Australian economy."

Already I've noticed that the keyword is "analyse" - so what does that mean exactly?
Also, "impact of globalisation" on "economic performance"? Does that mean I would have to define globalisation and economic growth, because eco. growth is the best measure of an economy's performance?

Besides that, what do I include in a question like this? I'm really unsure about the approach?

Any help would be greatly apprecitiated! Thank you.

 

[Rafy]

You have to analyse its impacts on the economic indicators (of which eco. growth is one)

Also on Unemployment, Inflation, The Exchange rate, External stability, (these give an indicator of performance of the economy) Fiscal policy etc

and yes include a def of globalisation.

 

[rsingh]

Thanks for you help guys.

So when we're talking about "economic performance" we're referring to economic growth, internal balance (inflation), external balance (CAD, etc) adn unemployment?

 

[Rafy]

Thanks for you help guys.

So when we're talking about "economic performance" we're referring to economic growth, internal balance (inflation), external balance (CAD, etc) adn unemployment?

yes, exactly.