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Improving Evaluation Skills in A Level Economics exam answers
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Improving your Evaluation Improving your Evaluation Skills in EconomicsSkills in Economics
The Hierarchy of Skills
KNOWLEDGE
COMPREHENSION
APPLICATION
ANALYSIS
EVALUATION
SYNTHESIS
Evaluate
• Compare a number of possible views about an economic problem or an issue and come to a reasoned conclusion about which view holds most weight
• E.g. evaluate the record of the Bank of England since it was made independent of government in May 1997.
Judging the Bank of England
Policy decisions
Domestic environment
External environment
Assess
• Assess - analyse an economic issue and then weigh up the relative importance of different strands of the arguments
• E.g. assess the possible effects of a rise in the external value of the pound against the currencies of our major trading partners
Rise in the exchange rate
• How big is the appreciation?
• How long does it last?
• Demand versus supply-side effects
• 2nd and 3rd round effects from the currency change
• Reactions of businesses and consumers to the exchange rate change
• What does the evidence tell us about what has actually happened?
Ten strategies
• Make good use of the last paragraph – don’t repeat points already made
• Look out for and refer back to the key stem words in the question
• Consider the issue from the points of view of different stakeholders
• Prioritize arguments - “The most important argument against protectionism in international trade is that… or “The least effective argument for protectionism in international trade is….
• Be aware that a singular economic event never happens in isolation
• Question the reliability of the data and detect bias in extracts
• Provide up to date supporting evidence and examples
• Consider both short and longer term consequences
• Drop the “ceteris paribus” assumption and see what happens
• Try to challenge views and statements – don’t accept the conventional wisdom
Key stem words in a question
• To what extent, if any, is it important for a UK government to restore and maintain a balanced budget?
• Key stem words?
• To what extent, if any, is it important for a UK government to restore and maintain a balanced budget?
Another example
• Assess the case for and against the government intervening to raise the disposable income of workers on low pay.
A micro question requiring analysis and evaluation
• Evaluate the view that, because price discrimination enables firms to make more profit, firms, but not consumers, stand to gain from price discrimination
Importance of evidence in your answer
• “Supply-side policies have been more effective than demand-side policies in reducing unemployment.” Evaluate this statement with reference to the UK economy in recent years
Evaluation phrases
• The arguments are finely balanced….
• On the other hand……
• However, in the long/short term……
• The most important cost is….. because….
• ..is somewhat insignificant compared to …
• Other stakeholders such as….
• In reality the theory may not hold true because….
• This idea is often criticized for
• The effects of a change in “A” depend on the price elasticity of demand and supply….. and if the elasticity changes, then the analysis can change
• The argument is contradicted by evidence which shows that….
• Although a fall in M should lead to a rise in N, time lags mean that policy changes take time to work through
• There may be a conflict involved with this policy because
Some more evaluation phrases
• However
• Hence
• Nevertheless
• Although
• It is likely that
• The tendency is
• But
• In retrospect
• With the benefit of hindsight
• In the short run… but in the long run
• It depends upon (e.g. Ped & exchange rate)
• The data suggest that
• According to the article
• The writer argues that …… but
Developing evaluation skills
• When factors such as causes, consequences or remedies are asked for, candidates should attempt to identify the most important ones and then to justify the reason for the choice
• Add evaluation points into your revision notes
• Revise in small groups - test and question each other
• Continue to read around the subject to build up a good awareness of current issues
• Read ‘comment articles’ on a regular basis to see how a writer builds and sustains an argument
• Cover all topics so that you can see how different topics fit together