The topic of a universal global currency has been a recurring theme in IELTS Writing Task 2 exams. Based on historical trends and current global economic discussions, it’s likely to remain a relevant subject for future tests. This article will provide sample essays and in-depth analysis to help you prepare for this potential topic.
Let’s examine a common question format related to this theme:
Some people think that there should be a single global currency. Others say that this would cause problems. Discuss both views and give your own opinion.
Analyzing the Question
This question requires you to:
- Discuss arguments for a single global currency
- Discuss potential problems of a single global currency
- Provide your own opinion on the matter
Remember to address all parts of the question and maintain a balanced approach throughout your essay.
Sample Essay 1 (Band 8-9)
The idea of a universal global currency has been debated for years, with proponents arguing for its potential benefits while critics warn of possible drawbacks. This essay will examine both perspectives before presenting my own view on this complex issue.
Those in favor of a single world currency argue that it would streamline international trade and eliminate currency exchange costs. For instance, businesses engaging in global commerce would no longer need to worry about exchange rate fluctuations, potentially leading to more stable prices for consumers worldwide. Additionally, a unified currency could facilitate easier travel and reduce the need for currency conversion, benefiting both tourists and international workers.
However, opponents of this concept raise valid concerns about the potential problems it might create. One major issue is the loss of monetary policy autonomy for individual nations. Currently, countries can adjust their monetary policies to address specific economic challenges, but a global currency would require a one-size-fits-all approach that may not suit diverse economies. Furthermore, the implementation of such a system would be enormously complex, requiring unprecedented levels of international cooperation and potentially exacerbating existing global inequalities.
In my opinion, while the idea of a single global currency is intriguing, the challenges and potential risks outweigh the benefits at present. The world’s economies are too diverse and interconnected to be effectively managed under a single monetary policy. Instead, I believe that improving existing international financial systems and promoting better cooperation between nations would be a more practical approach to addressing global economic challenges.
In conclusion, although a universal global currency could offer some advantages in terms of trade and travel, the potential drawbacks and complexities make it an impractical solution in the current global landscape. As the world continues to evolve, it may be worth revisiting this concept, but for now, focusing on enhancing current systems seems to be the most prudent course of action.
(Word count: 309)
Debate on global currency implementation
Essay Analysis
This essay demonstrates several qualities that contribute to its high band score:
Task Achievement: The essay fully addresses all parts of the question, discussing both views and clearly stating the writer’s opinion.
Coherence and Cohesion: The essay is well-organized with clear paragraphing and effective use of linking words (e.g., “However,” “Additionally,” “Furthermore”).
Lexical Resource: The writer uses a wide range of vocabulary accurately and appropriately (e.g., “proponents,” “streamline,” “exacerbating,” “intriguing”).
Grammatical Range and Accuracy: The essay showcases a variety of complex sentence structures with minimal errors.
Development of Ideas: Each point is well-developed with explanations and examples.
Sample Essay 2 (Band 6-7)
In today’s globalized world, some people think having one global currency would be a good idea, while others believe it could cause problems. This essay will discuss both views and give my opinion.
There are some advantages to having a single world currency. First, it would make international trade easier because companies wouldn’t have to deal with different exchange rates. For example, a business in Vietnam selling products to customers in the USA wouldn’t need to worry about the changing value of dollars and dong. Also, travelers would find it more convenient as they wouldn’t need to exchange money when visiting different countries.
However, there are also potential problems with a global currency. One big issue is that countries would lose control over their own money policies. Right now, each country can change things like interest rates to help their economy, but with one global currency, this wouldn’t be possible. Another problem is that it would be very difficult to set up such a system because countries have different economic situations and might not agree on how to manage the currency.
In my opinion, while a single global currency sounds interesting, I think it would be too complicated to work in reality. The world’s economies are very different from each other, and what works for one country might not work for another. I believe it’s better to improve the current system of international trade and cooperation instead of trying to create one currency for everyone.
To conclude, although a global currency could have some benefits for trade and travel, the challenges of implementing it are too great at the moment. Maybe in the future, as the world becomes more connected, it could be possible, but for now, I think focusing on making the current system better is a more practical approach.
(Word count: 298)
Challenges of implementing a global currency
Essay Analysis
This essay demonstrates qualities typical of a Band 6-7 score:
Task Achievement: The essay addresses all parts of the task, but the ideas could be more fully developed.
Coherence and Cohesion: The essay has a clear structure, but the use of cohesive devices is somewhat limited and mechanical.
Lexical Resource: The vocabulary used is adequate but lacks the sophistication and range seen in higher band scores.
Grammatical Range and Accuracy: The essay uses a mix of simple and complex sentences with generally good control, though there are some minor errors.
Development of Ideas: Ideas are presented clearly but could be supported with more specific examples or deeper analysis.
Key Vocabulary to Remember
- Currency (noun) /ˈkʌr.ən.si/ – The money used in a particular country
- Exchange rate (noun) /ɪksˈtʃeɪndʒ reɪt/ – The value of one currency compared to another
- Monetary policy (noun) /ˈmʌn.ɪ.ter.i ˈpɒl.ə.si/ – The way a country controls its money supply
- Fluctuation (noun) /ˌflʌk.tʃuˈeɪ.ʃən/ – Continuous change from one level or state to another
- Autonomy (noun) /ɔːˈtɒn.ə.mi/ – The right of an organization or country to be independent and govern itself
- Implementation (noun) /ˌɪm.plɪ.menˈteɪ.ʃən/ – The process of putting a plan or system into operation
- Exacerbate (verb) /ɪɡˈzæs.ə.beɪt/ – To make a problem or bad situation worse
- Prudent (adjective) /ˈpruː.dənt/ – Careful and avoiding risks
- Streamline (verb) /ˈstriːm.laɪn/ – To make a system or organization more efficient and effective
- Interconnected (adjective) /ˌɪn.tə.kəˈnek.tɪd/ – Having different parts or elements connected or related to each other
In conclusion, the topic of a universal global currency is a complex and thought-provoking subject that may appear in future IELTS Writing Task 2 exams. By studying these sample essays and analyzing their structures and language use, you can better prepare yourself for similar questions. Remember to practice writing your own essays on this topic and related themes such as global financial systems or digital currency regulation. Feel free to share your practice essays in the comments section for feedback and further discussion.