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HOW TO EVALUATE IN ECONOMICS?

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

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HOW TO EVALUATE IN ECONOMICS?

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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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