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Post by Guest on May 11, 2016 14:53:08 GMT
In the tutorials, there's a reliance on deriving multipliers to answer questions. Given that only one of the questions in the exam is said to be explicitly maths based , is it possiblw to explain the outcomes with words in lieu of deriving the equations? e.g. Could you explain the impact of a government spending multiplier or would you need to derive & explain their parameters?
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Post by Oliver on May 11, 2016 23:07:20 GMT
Hi,
First: Some of the multiple choice questions will also require use of maths.
Second: Let's say you're answering an "essay" style question. A good answer will, where appropriate, probably make use of equations, diagrams, and good writing. Equations with good explanations are great. Equations without good explanations are useless. Good writing without reference to an equation can also be great - but sometimes its harder to do this well. Sometimes a diagram is much more informative than equations - so ignore equations so get your point across with diagrams (as long, of course, as they are well explained!). If you're writing an "essay" style question, it is unlikely you'll want to waste time/space with lots of derivations. But, writing down a result like:
dY/dG|normal times < dY/dG|liquidity trap
might look nice/formal!? You are not being graded on how many equations or diagrams you use, but on how well you convey your answer. This module has (tried to) teach you lots of different tools that you can deploy at different times to answer different questions well. Trust your own judgement!
Best
Oliver
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