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Definition - Define at least one keyword for 2 marks. You are allowed to define up to 2 key words which gets you 4 marks.

Define supply-side policies and inflation


Adv of question - Advantages of supply-side policies in controlling inflation. Use diagrams.


LRAS shifting to right
Lower inflation (assuming economy is to some extent overheating, or at the very least, not on the excess capacity stage)
Achieve all four macro-economic indicators



Disadvantages of question - Disadvantages of supply-side policies in controlling inflation.


Time lag - takes years
External events may affect success of policy e.g. current Eurozone crisis / previous recessions
Perhaps not as effective as other economic policies to control inflation - leads to next paragraph



Alternatives to question - Alternative economic policy that controls inflation

Expansionary fiscal
Contractionary fiscal
Expansionary monetary
Contractionary monetary


Include a diagram if you have time


Conclusion - Always start conclusion with question to keep on track, so:

"The extent to which supply-side policies control inflation..."

Summarise adv, disadv and alternative

Get a lot of eval marks in conclusion, make sure it isn't weak
     
 
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