The topic of economic policies and inflation control frequently appears in IELTS Writing Task 2, particularly in recent years as global economies face increasing challenges. Based on analysis of past IELTS exams, this theme has appeared in approximately 15% of tests since 2020, making it a crucial topic for IELTS candidates to master. Understanding how to manage inflation during recession is essential for achieving a high band score.
Analyzing the Task Question
Some people believe that governments should focus on controlling inflation through strict monetary policies, while others argue that promoting economic growth should be the priority. Discuss both views and give your opinion.
This question requires candidates to:
- Examine two contrasting viewpoints about economic priorities
- Analyze the relationship between inflation control and economic growth
- Present and justify their own position
- Provide relevant examples and supporting evidence
Economic policies and inflation control strategies comparison chart
Band 8-9 Sample Essay
The debate between prioritizing inflation control versus economic growth remains a central issue in economic policy. While both approaches have merit, I believe a balanced strategy that primarily focuses on controlling inflation offers the most sustainable path forward.
Those who advocate for strict monetary policies argue that controlling inflation is fundamental to economic stability. When importance of interest rates in economic growth is considered, maintaining price stability prevents erosion of purchasing power and protects savings. For instance, countries like Singapore have demonstrated that maintaining low inflation through careful monetary management creates a foundation for sustained economic development.
Conversely, proponents of growth-focused policies contend that emphasizing economic expansion creates jobs and raises living standards more directly. They point to examples like China’s rapid development, where accepting moderate inflation enabled massive infrastructure investment and industrial growth. This perspective suggests that how inflation affects loan repayment terms is less critical than generating employment and increasing GDP.
In my view, while both arguments have validity, controlling inflation should take precedence. Historical evidence shows that unchecked inflation can devastate economies, as seen in cases like Venezuela. Moreover, stable prices create the predictability businesses need for long-term planning and investment. Countries that maintain low inflation typically achieve more sustainable growth patterns over time.
However, this should not mean completely sacrificing growth objectives. The key lies in finding an optimal balance, where inflation is kept within manageable limits while still allowing for reasonable economic expansion. This approach has proven successful in countries like South Korea and Germany, where price stability coexists with robust economic development.
Band 6-7 Sample Essay
The question of whether governments should focus more on controlling inflation or promoting economic growth is widely debated. This essay will discuss both perspectives and provide my opinion.
Some people think controlling inflation should be the main goal. They say high inflation makes everything more expensive and reduces people’s savings. For example, when prices keep going up, people can buy less with their money. This affects especially poor people who cannot save enough money.
On the other hand, others believe economic growth is more important. They think growing the economy creates more jobs and makes people richer. Countries like India focus on growth to help reduce poverty. When the economy grows, more people can find work and earn money.
I think both views are important, but controlling inflation should come first. High inflation can destroy an economy very quickly, while growth can be built slowly but surely. Many successful countries like Japan show that keeping prices stable helps create long-term growth.
In conclusion, while both goals matter, governments should focus more on controlling inflation because it provides a better foundation for sustainable growth. However, they should not completely ignore growth policies.
Analysis of Band Scores
Band 8-9 Essay Features:
- Sophisticated vocabulary and complex sentence structures
- Clear, logical organization with cohesive devices
- Well-developed arguments with specific examples
- Balanced discussion with clear personal position
- Academic tone throughout
Band 6-7 Essay Features:
- Good but simpler vocabulary
- Basic paragraph organization
- Some examples but less specific
- Clear but less sophisticated arguments
- Occasional informal expressions
Key Vocabulary
- Monetary policy (n.) /ˈmʌnɪtəri ˈpɒləsi/ – Official actions to control money supply
- Inflation rate (n.) /ɪnˈfleɪʃən reɪt/ – Speed at which prices increase
- Economic stability (n.) /ˌekəˈnɒmɪk stəˈbɪləti/ – Steady state of an economy
- Purchasing power (n.) /ˈpɜːtʃəsɪŋ ˈpaʊə/ – Ability to buy goods with money
- Fiscal measure (n.) /ˈfɪskəl ˈmeʒə/ – Government spending and tax policies
In conclusion, mastering this topic is crucial for IELTS success. Practice writing essays about impact of inflation on long-term savings and similar economic themes. Share your practice essays in the comments for feedback and improvement suggestions.
