Technically, there are two types of
essay that can be tested. The first type is what I call as the ‘1-part’ while
the other is ‘2-parts’
Question (a) (8 marks)
The ‘1-part’ type of essays usually
contain only 1-instruction/ 1-section. The breakdown of the marks will be
generally 2 marks (intro) + 6 marks (3 analysis). Some examples:
a. Explain any two economic ideas that
can be represented by the production possibility curve
b. Explain
why all types of economic system benefit from the existence and use of money
c. Explain,
using elasticity of demand, the possible reasons why in some countries there
has d. been an increased use of private transport instead of public transport
e. Explain the benefits of an international
trade
f. Explain the benefits of trade
liberalisation to an economy of your choice
Question (a) (8 marks)
The next one is ‘2-parts’ type where
an essay question requires candidates to consider two different/ related
elements simultaneously. The suggested breakdown is 2 marks (intro) + 6 marks
(2 analysis, one for each part). Some samples:
a. Explain,
using the elasticity of demand, why a train company might introduce a policy of
raising fares at busy travel times and lowering fares at less busy travel times
b. Explain
whether the factors of production are always of equal importance within and
between economies
c. Explain
how income elasticity of demand and cross elasticity of demand can be used to
classify different types of good
Question
(b) (12m)
For
a ‘1-part’ type, I generally recommend the formulae of 2 marks (introduction) +
4 marks (2/3 analysis) + 4 marks (2/3 arguments/ evaluations) + 2 marks
(conclusion). Consider:
a. Discuss
whether planned economies should always be replaced by free market economies
b. Discuss
whether restrictions on international trade can ever be justified
c. Discuss
why some governments decide that it is undesirable to leave provision of
private d. goods such as train travel, to the private sector
Question
(b) (12 marks)
This
is the ‘2-parts’ type. The question will usually request candidates to compare
two different economic policies for a particular problem or consider two
different economic conditions and which one should be of greater concern. The
approach is unique. I always tell my students to treat them as ‘two questions
in one’. So, the proposed answering strategy is introduction (2 marks) +
analysis & evaluation of first policy (4 marks) + analysis & evaluation
of second policy (4 marks) + justification/ conclusion (2 marks). Some examples
that are worthwhile to be considered:
a. Discuss
the economic reasons for subsidising public transport and taxing private
transport
b. Discuss
whether a government should be more concerned by an unstable foreign exchange
rate or by an unstable domestic price level
c. Discuss
the effectiveness of government use of maximum and minimum prices to help
consumers and producers
d. Discuss
whether a period of inflation or a period of deflation is more economically
desirable
How
to Instantly Improve the Presentation of an Essay
1. You
do not need impeccable English. This is not English Literature after all. All
you have to keep in mind is to write in simple and short sentences. Make sure that
they are coherent. If you want to score, you have to be able to successfully communicate
with an examiner
2. Use
lots of connectives. This short list here may give you an idea- This is
because, This leads to, Although/ Despite, Subsequently, Nonetheless, It is
worth remembering/ noting, Somehow, First, Second, Last but not least, However,
Having said so and many more. Use them as frequent as possible. They will
almost instantly make your paragraphs nicely tied to one another, building up a
systematic progress throughout the entire essay
3. Use
lots of economic jargons and examples. I personally call them the ‘amplifier’.
They not only make your essays look good but also project the strength of your
analysis and arguments. Let me show you it can be manipulated around:
Sample
1
Original
version
Tariffs
are generally bad. They invite retaliation. When another country retaliate,
exports will also fall. This means current account deficit will remain wide.
Also job losses are inevitable
Improved
version
Tariffs
are generally evil. Perhaps this is the reason why WTO is initiated. It is none
other than to wipe out or at least gradually reduce tariff barriers around the
globe. One most striking example is the Hawley-Smoot Tariff Act 1929. It was originally
introduced to fix the economic crisis in the USA. However, it didn’t take long
for commercial partners to retaliate. Instead of fixing current account
problem, maintain jobs and brought growth, it did the otherwise. Arguably, this
is one of the few reasons which led the world’s largest economy into the Great
Depression
Sample 2
Original version
A nation’s PPC shifts inward due to
natural disaster. When there are fewer resources, nothing much can be produced.
Economic growth falls
Improved version
The movement of the PPC depends on
both the quantity and the quality of the resources. If there is an increase in
the quantity and quality of factors of production, the PPC will shift outward. Likewise,
it will shift inward. To illustrate, consider the tsunami which swept across
the Japan in 2011. At that moment, all the land, labour and capital were
destroyed. There were fewer workers around, land no longer suitable for agriculture
and machineries were all devastated. Even if the Japanese economy tried to pull
it off at that time, it was rather unlikely that they can reach their original
peak
Sample 3
Original version
Economic/ monetary union is
different from free trade area. Countries trade more with one another. Also
factors of production have greater mobility. Economic growth will increase
Improved version
An economic/ monetary union such as
euro zone is very different from a Free Trade Area like NAFTA. In the former,
there is at least a greater sense of integration, where economies work closer
than before. Freedom of movement is not only to goods and services but also
extended to cover human capital and financial capital. On top of that, the
economies are probably moving in the about the same business cycle. This possibly
allows for greater harmonisation of both monetary and fiscal policy. This is
the reason why single interest rate was introduced and the power is helmed by
European Central Bank and countries are required to comply with strict public
sector spending. Uniquely, they also use single currency known as the euro
4. Use diagram(s), wherever and
whenever possible. One of the biggest complaints by examiners is that students
hardly use any diagram to support their analysis. They also added that students
will only engage diagrams in their answering provided if there is such
instruction in the question, which otherwise they will omit it. It is a bad
habit that must be broken. I personally told all my students to use diagrams
whenever appropriate. Why? For two simple reasons. First, they improve the
illustration of your answers and second, they give you ‘something to write/
describe’. It is worth remembering that no diagrams should be left unattended. It
must be followed by clear and logical analysis as how the changes take place
More to come tomorrow
No comments:
Post a Comment