Begin by being a normative economist and discuss goals you have for a well functioning economy.Then evaluate how effectively a market economy achieves those goals.Finally discuss and evaluate the effectiveness of our mixed economy (our market system along with our laws and institutions) in meeting the goals.

Tip: In the microeconomics section, I might focus on markets and the roles they play in allocating and distributing products and resources, the "invisible hand" and the role of markets in improving social welfare, the conditions under which markets fail to maximize social welfare, and policies aimed at addressing market failures.