This is an exam question from the Edexcel Unit 2 June 2012 Paper. Have a go at it yourself and then compare with the essay below (you can also check out the mark scheme). I was awarded 30/30 for the essay below, feel free to add any further suggestions in the comment box. I don’t seem to like paragraphs much!!

One macroeconomic policy currently being employed is the use of monetary policy. Monetary policy is the manipulation of interest rates and more recently quantitative easing to control the economy. it is run by the Monetary Policy Committee at the Bank of England. [...]