Advanced Macroeconomic Policies Example Essays… | tutor2u Economics
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Advanced Macroeconomic Policies Example Essays (Volume 1) for A Level Economics

  • Levels: A Level
  • Exam boards: AQA, Edexcel, OCR, Eduqas, WJEC

This series of example essays for A Level Economics covers advanced macroeconomic policies.

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The essay titles in this printed booklet are:

  1. “I am in favour of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible” –Milton Friedman. Evaluate the view that such a policy would achieve good economic outcomes.
  2. Adam Smith said that taxation should be imposed in proportion to the benefits a taxpayer receives from the state and should be predictable, convenient, and efficient. To what extent do you agree?
  3. The Economist wrote that it is easy to understand the case that European austerity is self-defeating. But it is also easy to see that one cannot run large deficits year after year without limit. To what extent are large fiscal deficits a concern?
  4. One commentator has said that even in a time of fiscal austerity, education is more than just an expense. Discuss the view that education is the most important department to protect from cuts.
  5. Ben Bernanke – a previous head of the US central bank said, “monetary policy is not a panacea”. A panacea is a solution or remedy for all difficulties. To what extent do you agree?
  6. “As financial markets continue to broaden and deepen, the behaviour of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past” – Timothy Geithner, a former central banker. Do you agree and does this make monetary policy easier or harder to operate successfully?
  7. Fin Tech includes changes such as crypto currency, new models of financial intermediation and AI. IMF Managing Director, Christine Lagarde in a 2017 speech, asked how this would change central banking. Discuss the ways in which fin tech might affect monetary policy.
  8. The American economist Martin Feldstein claimed domestic inflation reflects domestic monetary policy. Discuss the extent to which this statement is likely to be true?
  9. An ex senior Treasury official said there are at least some Treasury colleagues who will tell you in private that all this supply-side stuff is at best a waste of time, a lot of gimmicks; or at worse actively damaging, corrupting of the Treasury’s more fundamental responsibility to manage the public finances. There’s also a completely opposing critique that says this supply-side stuff is incredibly important: too important to be left to the Treasury. How important is supply side policy?
  10. In a recent article, the FT commented that the UK does not need an industrial policy but it does need a productivity policy. To what extent do you agree with this statement?
  11. Major upgrades in infrastructure investment are either underway or under discussion. Examples include HS2 and the third runway at Heathrow. Is investment of this sort the best means of improving economic performance?
  12. In the foreword to the 2017 Green Paper on “Building our Industrial Strategy”, the Prime Minister said that governments should not just step back and leave business to get on with the job, but should step up to a more active role…” Are interventionist or free market supply side policies the most effective?

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