How do I write a Level 7 part (b) 15 mark answer for Paper 1?

Unlike part (a) questions which are weighed at 10 marks, and tests your knowledge and understanding, application and analysis, and your selection, use appropriate skills and techniques. Part (b) requires you to not just be thorough with your theoretical understanding but requires a critical discussion and/or evaluation of the economic concept being tested, you should also be able to synthesise the best answer to the problem in question. Without a reasonable attempt at synthesis and evaluation, your answer will not achieve score beyond 9/15 under rubric requirements. This is a common area where students lose marks which is why I emphasise on it so much, but there is no need to be intimidated as evaluation is quite a simple process.

Let's say you are being asked to evaluate the effectiveness of monetary policy in fixing a recession. In an evaluation, it would be important to consider: (1) The pros and cons of monetary policy. (Is it easy to implement? Is it effective in a recession? How long do the effects take to show? Who and what is affected by monetary policy?) (2) Consider alternatives. (Is monetary policy truly the best way to deal with the problem? Consider fiscal policy, is monetary policy better in a recession? Why/why not?) (3) Assumptions. (Are we assuming anything when we say monetary policy brings stability? What about inflation, are we assuming it is stable? How is it affected?) (4) Synthesise/prioritise your argument. (This is your synthesis component. Pick a side after evaluating it, use reasoning and application to come to a solution. Prioritise your argument considering context if any.)

Remember: This is YOUR critique, your argument. You do not need to include all of these elements in every answer, but it is very important to display effective engagement with questions like these to score a 13/15 or above (towards Level 7). An attempt shall get you to a minimum of 10/15.

Apart from this, you should be thorough with your theoretical understanding to score high. You must define key terms in the question, use the rest effectively. You must have diagrams labelled correctly to illustrate your argument. Most theory should be tested in part (a) but you may need a short paragraph to explain anything relevant.

These are my tips for writing an excellent answer, good luck!