Economics Extended Response: Writing Strategies and Structures for QCAA Economics EA

[@sabamohassel907]

Thank you so much 🙏🏻

[@lukecarr4623]

With the limitations of the approach, can we mention issues that are not mentioned in the stimulus? For example, if the government plans on expansionary fiscal policy causing a budget deficit, this may crowd out private investment by government increasing the selling of bonds, but there is no stimulus mentioning anything associated with crowding out?

[@lukecarr4623]

If the question says ceteris paribus, does this mean we cannot go beyond the sources what so ever?

[@Brettonomics]

Hi Luke, Discussion of a limitation of govt approach appeared as a marking criteria in 2022 paper ( www.qcaa.qld.edu.au/downloads/senior-qce/hass/snr_economics_22_ea_mark_guide_pub.pdf ) In that instance, the limitation was somewhat evident in the source material (but only if you really knew your theory) . I guess that maybe the best way to look at this problem of whether you should discuss a limitation / caveat of govt approach is that if you can come up with an idea that links theory and stimulus then try and include it. If you have writing time and have a good economics idea then write it down. Remember that the marker will grade your work based on what is on the page - if its not written down then you can't get a mark! But stay tight to the scope of the question and stimulus. I hope that helps

[@Brettonomics]

Ceteris paribus means to assume that all else remains unchanged ..... in other words, you will see changes in the economic data in source material, but the economic data NOT in stimulus - we assume is unchanged. By taking that approach we can evaluate based solely on the information available (in the source material).