Policy evaluation
What Policy evaluation means in Economics A-Level, as defined for AQA.
Definitions of Policy evaluation
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Reference: AQA
Weighing the potential welfare gains of intervention against the risks of government failure, administrative costs and information gaps, and comparing different methods against each other.
Using AD/AS analysis to evaluate policy responses to macroeconomic problems and the effectiveness of government policies in solving them, noting potential trade-offs.
Judging a policy's effectiveness by explicitly stating the government's likely primary objective when the policy was implemented.
Topics that use Policy evaluation
- Aggregate demand and aggregate supply analysis (AQA A-Level)
- Government intervention in markets (AQA A-Level)
- The objectives of government economic policy (AQA A-Level)
Related terms
- Aggregate demand
- Aggregate demand components
- Aggregate supply
- Costs of production
- Demand-deficient (cyclical) unemployment
- Economic shocks
- Economic systems
- Equity
Using Policy evaluation in the exam
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