(All instructions are in the pdf below)
Task:
a) Identify a clear social problem of concern.
b) Outline a set of possible economic policy responses to the problem.
c) Make a recommendation regarding the policy measure you feel is best suited to
address the problem.
Guidance:
a) Provide the context with clear detail in terms of economic data on numbers. Ensure
you write it as if explaining to somebody who has absolutely no understanding of the
problem – even if it is a well known problem. Explain why it is a problem – this may
seem obvious, but even if there is an inequality in some economic variable, a case
needs to be made for why it is a problem.
b) Introduce each policy, explaining clearly what it would entail. How would it be
implemented, who by, what might the anticipated impact be, holding everything else
constant? Try to analyse how the policy might have an impact on the variable of
interest, and the mechanism by which it would be expected to have that impact.
c) In making your recommendation, you should set out clearly the basis upon which
you make the judgement – it could be most likely to be effective, least likely to have
inadvertent impacts on other variables, most likely to have popular support, for
example. You should ensure that in this part you are not doing things that should be
in part (b).
List of potential social problems (you do not have to choose from these):
• Inequality in life expectancy and health outcomes.
• Mass displacement of people – refugee crises.
• End of globalisation: Supply chains in the new world
• Taxing wealthiest 1%
• How to regulate the fishing industry