Extended Response Planning Flashcards
Plan your response for the extended response. The guide answers to the 2020-23 extended response
What are the 8 phases of an extended response?
- The issue/economic problem (WHAT)
- Analyse the data to justify (HOW) - Meaning, trends, quantify
- Rationale (or reason) for government intervention (justification) (WHY)
- Option 1 - positives and negatives of approach (use data)
- Option 2 - positives and negatives of approach (use data)
- Decision - based off stakeholders and critera, LINK TO QUESTION
- Reasoning, through economic theory
- Limitations of the approach
What is the keypoint for each phase?
- Problem
- Data
- Rationale
- Option 1
- Option 2
- Decision
- Reasoning
- Limitations
Plan your response step 1
(1) Problem
[what]
Identify and explain the issue/ economic problem
[WHAT] is the problem
Plan your response step 2
(2) Data
[how]
Analyse data to justify (there may be a couple of soucres).
How do you know it’s a problem? LOOK IN THE SOURCES
[HOW] do you know it’s a problem
Trends, Quantify + Calculate, Make meaning (twice)
Plan your response step 3
(3) Rationale
[why]
Rationale (or reason) for Government intervention (justification)
[WHY] should the Government get involved?
Plan your response step 6
(6) Decision
Ensure that you consider stakeholders and criteria
Link Back To Question
Plan your response step 4
(4) Option #1
Unpack positives and negatives of this approach (as informed by the data available)
Plan your response step 7
(7) Reasoning
Provide reasoning linking data and economic theory.
Essentially, synthesise data. Bring in ideas.
Economic Ideas, at least two reasons.
Plan your response step 5
(5) Option #2
Unpack positives and negatives of this approach (as informed by the data available)
What is the first phase?
Identify and explain the issue/ economic problem
Plan your response step 8
(8) Limitations
Limitations of the approach (or unknowns/ceteris paribus)
What is the second phase?
Analyse data to justify (there may be a couple of soucres)
What is the third phase?
Rationale - Rationale (or reason) for Government intervention (justification)
What is the fourth phase?
Option #1 - Unpack positives and negatives of this approach (as informed by the data available)
What is the fifth phase?
Option #2 - Unpack positives and negatives of this approach (as informed by the data available)
