I believe the US economy will/will not grow more rapidly in the next three years than the last three years, discuss

“Your uncle” wants to know what you think and why you hold YOUR view

Mark scheme:

1.  For economic data, up to five marks each data set – up to 10 marks in total. To score highly you must:

a. present the data well and properly labelled

b. present sufficient data to support your argument

2. Good use of the data – up to 3 marks each time it is used and the significance of the data to the case you are making is well-articulated. Remember for example, nominal and real are different, explain what is happening if you are using index numbers, are you showing annual or quarterly numbers, percentage changes or changes in totals and so on

3. For each instance of use of economic analysis as learned in class – up to 10 marks possible with good explanation, use of the relevant diagram/diagrams and an explanation

4. Good articulation of a macroeconomic point well-supported by the data and analysis 2 marks each time

There is no “right” or “wrong” answer. As long as you can support your case with data and analysis you will earn marks. You are not expected to use analysis that we have not yet covered in class.

I am often asked how long an assignment should be. It should be long enough to:

1.  Be an example of your best work in responding to the assignment

2. It should use as much data and analysis as necessary to demonstrate that you have mastered the concepts learned in the class and that you can apply models and analysis learned in the class to answer the assignment’s main prompt. Canvas contains “soft” copies of all the diagrams used in the slides presented in the class. Feel free to use them. The more concepts learned in class that you use, the higher will be your score.

Maximum of 30 marks

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