Rubric for Graphical applications.

Dimensions Exemplary Competent Unacceptable

Graph Labeling • All axes are correctly
labeled with relevant
numbers and units.
Possibly, the graph is drawn
to scale.
• If abbreviations are used,
it is clear what the
abbreviations stand for.
Original Equilibrium Original equilibrium is
properly located and
marked
Shifts in the Curves • The correct curves shift.
• If none of the curves shift
it is clearly stated that this is
the case.
• The curves shift in the
correct direction.
New Short Run Equilibrium New equilibrium is properly New equilibrium is not
located and marked properly located or marked
• Some axes are labeled. • There are no labels.
• Some units are correct. • There are no units or
• Some numbers are correct. numbers.
• If abbreviations are used, it
is not clear what they stand
for.
Original equilibrium is not It is not clear where the
properly located or marked original equilibrium is
• Incorrect curves shift. • It is not clear at all which
• If none of the curves shift curves shift. OR
it is clearly stated that this is • None of the curve shift.
the case. OR
• The curves shift but in • If the answer is that none
wrong direction. of the curves shift, this is
not clearly stated or
incorrect curves shift.
It is not clear where the
new equilibrium is.

New Equilibrium New equilibrium is properly New equilibrium is not It is not clear where the
located and marked properly located or marked new equilibrium is.

Explanation • The description of the • There is some description • There is no explanation of

graph is clearly written.
• The explanation of the
curve shift is given.
• It is clearly stated what
happens to the equilibrium
interest rate, price level and
output.
of the graph, but it is very the graph or it is
short and incomplete. incomprehensible.
• It is not clear why the • There is no explanation
curve has shifted. and evaluation of the policy
• It is not completely clear
what happens to the
equilibrium interest rate,
price level and quantity.