Pick a side after evaluating it, use reasoning and application to come to a solution. ![]() (Are we assuming anything when we say monetary policy brings stability? What about inflation, are we assuming it is stable? How is it affected?) (4) Synthesise/prioritise your argument. (Is monetary policy truly the best way to deal with the problem? Consider fiscal policy, is monetary policy better in a recession? Why/why not?) (3) Assumptions. (Is it easy to implement? Is it effective in a recession? How long do the effects take to show? Who and what is affected by monetary policy?) (2) Consider alternatives. In an evaluation, it would be important to consider: (1) The pros and cons of monetary policy. Let's say you are being asked to evaluate the effectiveness of monetary policy in fixing a recession. This is a common area where students lose marks which is why I emphasise on it so much, but there is no need to be intimidated as evaluation is quite a simple process. ![]() Without a reasonable attempt at synthesis and evaluation, your answer will not achieve score beyond 9/15 under rubric requirements. Part (b) requires you to not just be thorough with your theoretical understanding but requires a critical discussion and/or evaluation of the economic concept being tested, you should also be able to synthesise the best answer to the problem in question. ![]() Unlike part (a) questions which are weighed at 10 marks, and tests your knowledge and understanding, application and analysis, and your selection, use appropriate skills and techniques.
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