How to attack an eco. extended response? (1 Viewer)

[rsingh]

Hey guys,

I suck at extended responses in economics, and they're my biggest drawback in exams. So I was wondering if you guys could give me some tips or a thorough guidline as how to approach an eco. extended response (essay) and what to include in terms of the question they ask?

Thanks guys, there's only limited time to the HSC to practice, so any help/adivce would be highly appreciated!

 

[Haku]

hm...extended response.
so person in a thread wrote the essay structure, so u should check it out.
basically every essay follow a set structure even if the statement do not require you to write certain point, but its is always good to.

...just look for the thread!

 

[Rafy]

Synthesise. Try to move away from a linear structure

 

[~ ReNcH ~]

Synthesise. Try to move away from a linear structure

It's quite difficult to synthesise in economics essays. In fact it's difficult to synthesise in any factual response imo. For instance, if you're asked to discuss the effects of microeconomic reform, it's difficult to avoid the linear structure of having one paragraph dedicated to labour reform, one to financial deregulation, one to reduced trade barriers etc. It's difficult to somehow fuse all of those into one flowing response without clear demarcations.

If you think I'm wrong about this Deus, by all means post up a possible structure for a more fluid response. Like rsingh, I'd also like to improve my essay writing in economics.

 

[caps04]

The KISS method

The good old KISS method got me through HSC economics: Keep It Simple Stupid

The following structure can be applied to any issue, I will use price stability (inflation) to illustrate.

What is it?
(Inflation is defined as an increase in.....)

How is it measured?
(the headline rate of inflation, the underlying rate of inflation)

Types of inflation.
(demand pull, cost push, imported)

Inflation trends in Australia.
('the recession we had to have', current 'goldilocks' 2-3% rate)

The economic impacts of inflation.
(loss of real wages, loss of international competitiveness etc etc)

Government policies to overcome inflation
(Monetary policy- inflation targeting)

Economists love diagrams! Have 2 diagrams for each economic issue ready. A good one for inflation is the Philips Curve, as it can be applied to show how the govt finds it difficult to simultaneously achieve price stability and full employment.
Another good inflation diagram is the inflationary gap diagram, where it can be shown that when aggregate expenditure is too strong, it leads to an output level greater than the full employment level of output (ie: demand>supply- demand pull)

Remember KISS.

 

[rsingh]

Thnaks guys.

So just keep it simple huh?
So cut to the point, talk abt it, give an examle to illustrate it, link with question?
Is that what you're saying?