# Analysis on a) of essay question econ P2

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Analysis on a) of essay question econ P2

## 1. Explain AND consider

### 1.1. Explain (AO1 and AO2) (6p)

1.1.1. The difference between x and y

1.1.1.1. The meaning of x and an explanation related to the subject (2p)

1.1.1.1.1. (For example, meaning of tariff as a tool of protectionism)

1.1.1.2. The meaning of y and an explanation related to the subject (2p)

1.1.1.3. Various advantages and disadvantages of x related to the subject

1.1.1.3.1. (For example, advantage and disadvantage of tariff as a tool of protectionism) (2p)

1.1.1.4. Various advantages and disadvantages of y related to the subject (2p)

1.1.2. the reason for x

1.1.2.3. Distinction related to after the consider

1.1.2.3.1. (For example, consider whether x is fairer than another => Relate the distinction to Fairness)

1.1.3. With the help of a diagram, explain one reason for x and one reason for y

1.1.3.1. Meaning of x (1p)

1.1.3.2. Meaning of y (1p)

1.1.3.3. Diagram (1p)

1.1.3.4. Reason + explanation for x related to the subject (1p)

1.1.3.4.1. (For example, a reason for the increase in AD is decrease interest rate => Will it ALWAYS lead to inflation)

1.1.3.5. Reason + explanation for y related to the subject (1p)

1.1.3.6. Diagram demonstrate the idea (1p)

1.1.4. Main cause for x with reference to a

1.1.4.1. Meaning of x (1p)

1.1.4.2. Meaning of any topic related to x

1.1.4.2.1. (For example, x = cause of unemployment => Meaning of two other types of unemployment) (2x1p)

1.1.4.3. An analysis on x related to the topic with reference to a (Max 3p)

1.1.4.3.1. (For example, "consider which cause is more significant" => Analyze the cause and significance of the two related topic mentioned above)

1.1.5. How x influence y

1.1.5.1. Meaning of x (1p)

1.1.5.2. Meaning of y (1p)

1.1.5.3. Further explanation of x/y in case the topic can be furthur discuss (1p)

1.1.5.3.1. (For example, y = Imbalance in current account of the balance of payment => Meaning of balance of payment surplus/deficit

1.1.5.4. Explanation of the influence of x to y, linking up the ideas until the question is answered (3p)

1.1.5.4.1. (For example, how "import tariff" correct "imbalance BOP" => Import price raise => Import Consumption decrease => Correct imbalance.)

### 1.2. Consider (AO3) (2p)

1.2.1. Offer a valid judgement with explanation (1p)

1.2.2. Reach a conclusion (1p)

1.2.3. Which of the x(s) is most significant

1.2.3.1. Evaluate which one is most significant (Reference if needed) (1p)

1.2.3.1.1. Ideally, when there are two x(s) compare them on the same scenario

1.2.3.2. Conclusion (1p)

1.2.4. Consider x as the best way to correct y

1.2.4.1. "Final effect uncertain" + explanation (PED,...)

1.2.4.2. Other policies can be used

1.2.4.3. Reach a conclusion (1p)

1.2.5. Consider whether x is better/worsen than y

1.2.5.1. Relevant analysis for comparison to consider the importance/impact of both x and y

1.2.5.2. Judgement on which on is better/worsen

1.2.5.3. Conclusion

1.2.6. Consider whether x will always lead to y

1.2.6.1. Explanation of the other factors that might make y not happen.

1.2.6.2. Conclusion/Judgement

## 2. explain the function/reasons and consider(B)

### 2.1. AO1(3)

2.1.1. 3 functions/reasons or 2 functions/reasons well explained

### 2.2. AO2(3)

2.2.1. (consider)3 analysis on the consider question

### 2.3. AO3(2)

2.3.1. Judgement on at least 2 things in consider question

2.3.2. justified conclusion

## 3. explain what is meant by( with graph) and consider(B)

### 3.1. AO1(3)

3.1.1. Definition

3.1.2. graph and example

3.1.3. Definition of second thing or property of the thing asked/related thing

### 3.2. AO2(3)

3.2.1. (consider)explain/analysis in 2 different situation(consider how change in price...-> 2 situation: elastic/inelastic PED)

3.2.2. Graph

### 3.3. AO3(2)

3.3.1. Conclusion depends on the analysis above

3.3.2. What is the thing the result depends on or the extent

## 4. explain and consider(B)

### 4.1. AO1(3)

4.1.1. Definition

4.1.2. Formula/graph/example

4.1.3. The meaning of related things(ex: YED-> meaning of ineleastic and elastic YED)

### 4.2. AO2(3)

4.2.1. 3 analysis of the things in the explain question

### 4.3. AO3(2)

4.3.1. (consider)What is the thing that need to be consider depends on(2p or 1p)

4.3.2. (reserve 1p or 1p)justified conclusion