Alonzo Kotiram - 1411513

Student ID: 96046330

Strengths
First of all, it is important to point out that the essay is well organized and quite
concise. Appropriate technical terms are used. The student has taken a step-by-step
approach to explain the output gap, which is quite easier to ready and understand than
bundling up everything. In addition, the information set forth is consistent with my
modest research of the subject.

Weaknesses
The student could have shed a light on the positive output gapwhen actual GDP is
greater than potential GDPand its effects, i.e. it causes an upward pressure on
inflation. As central banks, including the Bank of England, aim to have a zero output
gap, it might have helped to make a short description.
Graphs could also have been used to illustrate certain points. This is likely going to give
the reader a better grasp.

Grading Conclusion
I feel that the student should receive a Low 1st. This is because I believe a couple more
points could have been added on the economic consequences of adopting certain policies
to tackle the negative output gap.

Alonzo Kotiram - 1411513

Student ID: 96046332

Strengths
The main strength in this essay lies in the students uses of technical terms as well as
the use of the graph to help illustrate the output gap. Reasons are given in explaining
the inaccuracies that may arise from calculating the output gap. More importantly, his
logic is quite convincing, e.g. when he casts his doubt upon the Phillips curve.

Weaknesses
First and foremost, the student failed to devote a section on referencesI believe this is
very essential on a university piece of work. There is one or two spelling mistakes and
some words are used twice in a row. The essay is not well organized, in my opiniona
better management of the paragraph would have made the essay more coherent and
readable. Furthermore, in spite of the correct definition and explanation, it should be
noted that the output gap expression given by the student is wronga positive sign
should be used instead of a negative sign.
Going technical, the student failed to explain conclusively the expressions in the
Phillips curve equation. In addition, he could have suggested policies that the Bank of
England might adopt to tackle negative output, as well as explaining its adverse effects
on the economy.

Grading Conclusion
Because there are mistakes that could have been avoided entirely had he taken the time
to review his work thoroughly, and a couple of points should have been added, I believe
his grade should be at Mid Upper Second.