Policy analysis can be done in a number of ways. As long as you are analytical more so than descriptive, the policy and format is up to you. Choose a policy area which interests you. Stick to Australian examples if you are uncertain. Ask yourself some questions to give the analysis direction:
Is there a policy problem area not being adequately addressed by government?
Have traditional approaches to solving the problem failed?
Does the public service have the capacity to deal with the problem?
Was the process of policy development democratic and inclusive?
Was the outcome successful? What are the criteria for measuring success?

