5) Principles of good policy design Managing economic challenges and coming up with policy solutions is a tricky task. While striving to optimise overall wellbeing, every policy decision involves some sort of trade-off. An essential element of good policy-making is to consider these trade-offs by weighing up the costs and benefits, across the short-term and long-term, and identifying the 'winners' and 'losers' of any policy change. As part of your contribution to the Policy Brief, explain what have you learnt about policy trade-offs? Referring to any of the topics that we have covered in this macroeconomics course, give an example of a trade-off that policymakers need to consider. In your discussion, you should refer to the economic concept of opportunity cost. Remember to focus on macroeconomic, not microeconomic, examples. (3-5 sentences)