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Evaluating Economic Commentaries: Criteria for Effective Analysis

This guide explores how to effectively evaluate economic commentaries by examining key criteria. It outlines the essential elements of evaluation, including identifying advantages and disadvantages of policies, prioritizing strong and weak arguments on controversial issues, and considering both short-term and long-term impacts. Additionally, it emphasizes the importance of evaluating stakeholder perspectives to understand the broader implications of economic proposals. This structured approach ensures a comprehensive analysis, allowing for informed decision-making in economics.

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Evaluating Economic Commentaries: Criteria for Effective Analysis

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  1. HOW TO EVALUATE IN ECONOMICS? APPLICATION TO ECONOMIC COMMENTARIES

  2. Your Commentary & Evaluation • Your should allow at least 200 words for evaluation in your commentary. • There are specific criteria which you must cover in order to effectively evaluate.

  3. Criteria: 1 Advantages & Disadvantages • Identify advantages and disadvantages associated with the issue/proposal/law/topic. • Try to reach the point of effective decision making. Eg: Clearly the advantages outweigh the disadvantages because… Or this is the main advantage because… • Eg: The disadvantages are minor in respect to their economic impact, while the advantages will have a more significant financial benefit for all parties.

  4. Criteria: 2 Prioritize the Arguments for Controversial Issues • You should identify the weakest & strongest argument for and against a specific topic. • Eg: The weakest argument for protection may be nationalism while the strongest argument might be the infant industry or employment argument.

  5. Criteria 3: Short / Long Term Perspective • Eg: In the short term the possible consequences could be… • Eg: In the long term the possible ramifications could be…

  6. Criteria 4: The Perspective of Different Stakeholders • Eg: The Union Movement & The Democrats would clearly support this proposal, but the Republicans and Business groups may be opposed because…. • Remember stakeholders are any groups or individuals that have an interest/connection to the topic/issue/proposal.

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