Economic challenges and financial preparedness have become increasingly common topics in IELTS Writing Task 2, appearing in approximately 15% of recent exam questions. This reflects the global concern about economic stability and preparedness for financial crises. Let’s examine one of the most frequently appearing question types on this subject.
How to prepare for economic crises in a globalized world is a crucial skill that many test-takers need to address effectively in their essays.
Sample Question and Analysis
Some people believe that governments should focus on preparing for future economic downturns, while others think immediate economic growth should be the priority. Discuss both views and give your opinion.
Question Analysis
- Topic: Economic policy priorities
- Task: Discuss both views + opinion
- Key points to cover:
- Arguments for preparation
- Arguments for growth
- Personal stance with justification
Economic preparation versus growth priorities visualization
Band 8 Sample Essay
Many debate whether governments should prioritize preparing for potential economic crises or focus on immediate economic growth. While both approaches have merit, I believe a balanced approach with emphasis on preparedness is crucial for long-term economic stability.
Those who advocate for immediate growth argue that expanding the economy creates jobs, increases tax revenues, and improves living standards. For instance, when governments invest in infrastructure projects or reduce taxes to stimulate consumption, it can lead to rapid economic expansion and immediate benefits for citizens. How to boost economic growth after a recession demonstrates the importance of such strategies.
However, proponents of economic preparedness emphasize the devastating impact of being caught unprepared during financial crises. They argue that building financial reserves, diversifying the economy, and establishing robust safety nets are essential for national security. The 2008 financial crisis showed how countries with better preparedness measures recovered more quickly. The role of social safety nets during economic downturns highlights this crucial aspect.
In my view, while growth is important, preparation for economic challenges should take precedence. This approach ensures sustainable development and protects citizens during difficulties. Countries can achieve this through maintaining emergency funds, developing diverse industries, and investing in how to support job retraining during economic crises.
(Word count: 273)
Band 6.5 Sample Essay
Nowadays, there is a big discussion about whether governments should prepare for future economic problems or focus on growing the economy right now. I think both ideas are important but preparation is more necessary.
Some people think growing the economy now is more important. They say this creates more jobs and helps people earn more money. When the economy grows, the government gets more tax money and can spend more on things like schools and hospitals. This helps everyone have a better life right now.
But other people think preparing for future problems is more important. They say we need to save money and make plans for bad times. For example, during Covid-19, countries that had saved money could help their people better. How economic downturns affect mental health services shows why this matters.
I believe preparing for problems is more important than just trying to grow the economy fast. If we don’t prepare, when problems come, many people will suffer. Governments should save some money and make good plans for the future while still trying to grow the economy slowly.
(Word count: 252)
Vocabulary Analysis
- downturns (n) /ˈdaʊntɜːns/ – periods of reduced economic activity
- advocates (n) /ˈædvəkeɪts/ – people who publicly support something
- proponents (n) /prəˈpəʊnənts/ – people who argue for something
- precedence (n) /ˈpresɪdəns/ – priority in importance
- robust (adj) /rəˈbʌst/ – strong and healthy
- devastating (adj) /ˈdevəsteɪtɪŋ/ – highly destructive
- contingency (n) /kənˈtɪndʒənsi/ – a future event that might happen
- diversifying (v) /daɪˈvɜːsɪfaɪɪŋ/ – spreading across different areas
Conclusion
The topic of economic preparedness versus growth remains highly relevant for IELTS candidates. Future questions might explore related themes such as:
- The role of international cooperation in economic stability
- Environmental considerations in economic planning
- Digital transformation’s impact on economic resilience
Practice writing your own essay on this topic and share it in the comments for feedback and discussion.
