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How to Write a Good Economics Essay
Last Updated: July 16, 2024 References
This article was co-authored by Emily Listmann, MA . Emily Listmann is a Private Tutor and Life Coach in Santa Cruz, California. In 2018, she founded Mindful & Well, a natural healing and wellness coaching service. She has worked as a Social Studies Teacher, Curriculum Coordinator, and an SAT Prep Teacher. She received her MA in Education from the Stanford Graduate School of Education in 2014. Emily also received her Wellness Coach Certificate from Cornell University and completed the Mindfulness Training by Mindful Schools. This article has been viewed 129,859 times.
A good economics essay requires a clear argument that is well-supported by appropriately referenced evidence. Research your topic thoroughly and then carefully plan out your essay. A good structure is essential, as is sticking closely to the main essay question. Be sure to proofread your essay and try to write in formal and precise prose.
Preparing to Write Your Essay
- For example a question such as “Discuss the macroeconomic consequences of rising house prices, alongside falling interest rates” could be divided into 2 parts: 1 part could be on the effects of rising prices, and 1 on the effects of falling interest rates.
- In this example you could begin by discussing each separately and then bringing the 2 together and analysing how they influence each other.
- Be sure to keep the question at the forefront of your mind and don’t veer off topic. [1] X Research source
- Be sure that you understand all the key terms that you are being asked about.
- Try to keep your reading focussed closely to the essay question.
- Don’t forget to look at any lecture or class notes you have made.
- 3 Come up with a thesis statement . A thesis statement is the main argument you will make in your essay. It should be 1-2 sentences long and respond to the essential question that’s being asked. The thesis will help you structure the body of your essay, and each point you make should relate back to the thesis.
- Once you have put together a list of key points, then try to add in some more detail that brings in elements from your research.
- When you come to write out your essay, you can develop a paragraph based on each point.
- All of the evidence and explanation will be in the main body of the essay.
- Order the key points in the body of your essay in such a way that they flow logically.
- If you are writing a longer essay, you can break the main body into different sections. [2] X Research source
- If you have a word limit, be sure to take this into account when you are planning.
- Allocate yourself a rough number of words per section.
- The introduction and conclusion can be just a paragraph each.
Writing the Essay
- What your essay is about.
- What material you will cover in the essay.
- What your argument is. [3] X Research source
- Having this stated clearly at the start can help you to stay focussed on the question as you work your way through the essay.
- Try writing out this one or two sentence statement and sticking it up in front of you as you write, so it’s stays at the forefront of your mind.
- Try to begin each paragraph with a sentence that outlines what the paragraph will cover.
- Look at the opening sentence of each paragraph and ask yourself if it is addressing the essay question. [5] X Research source
- Try to engage with arguments that run counter to yours, and use the evidence you have found to show the flaws.
- It might help to imagine someone reading the essay, and anticipating the objections that he might raise.
- Showing that you have thought about potential problems, and you can make an argument that overcomes them, is a hallmark of an excellent essay. [6] X Research source
- If there is conflicting evidence, discuss it openly and try to show where the weight of the evidence lies.
- Don’t just ignore the evidence that runs counter to your argument.
- In the conclusion you can add a few sentences that show how your essay could be developed and taken further.
- Here you can assert why the question is important and make some tentative suggestions for further analysis.
Proofreading and Making Revisions
- As you read through it, think about how closely you stick to main overarching question.
- If you notice paragraphs that drift off into other areas, you need to be tough and cut them out.
- You have a limited number of words so it’s essential to make every one count by keeping tightly focussed on the main question.
- Think about how you use the evidence too. Do you critically engage with it, or do you merely quote it to support your point?
- A good analytical essay such discuss evidence critically at all times.
- Even if the evidence supports your argument, you need to show that you have thought about the value of this particular piece of data.
- Try to avoid making any assumptions, or writing as if something were beyond dispute.
- Remember an academic essay should be written in a formal style, so avoid colloquialisms.
- Avoid contractions, such as “don’t”, or “won’t”.
- Try to avoid paragraphs that are more than ten or fifteen lines long.
- Think about how it looks on the page. [8] X Research source
- Always include a bibliography, but don’t include references to things you haven’t read or didn’t inform your argument. [9] X Research source
- Your teacher will know if you just add a load of titles into your bibliography that are not evidenced in the body of your essay.
- Always follow the bibliography format used by your department or class.
Community Q&A
You Might Also Like
- ↑ http://www.economicshelp.org/help/tips-economic-essays/
- ↑ http://www.writing.utoronto.ca/advice/planning-and-organizing/organizing
- ↑ http://carleton.ca/economics/courses/writing-preliminaries/academic-essay-writing/
- ↑ https://www.economicsnetwork.ac.uk/archive/lse_writing/page_11.htm
- ↑ https://www.royalholloway.ac.uk/economics/documents/pdf/essaywriting-departmentofeconomics.pdf
About This Article
Before you begin writing your economics essay, make sure to carefully read the prompt so that you have a clear sense of the paper's purpose and scope. Once you have read the prompt, conduct research using your textbook and relevant articles. If you cannot find research materials, ask your instructor for recommendations. After your research is done, construct a 1-2 sentence thesis statement and begin outlining your main ideas so that your essay will have a clear structure. Make sure to leave time to write a draft and revise your work before it is due. If you want to learn more, like how to cite the sources you used for your essay, keep reading the article! Did this summary help you? Yes No
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How to Write a Good Economics Essay
Governor November 28, 2019 Real World Applications 3 Comments
Many students ask “How to write an economics essay?” This Guide to Writing a Good Economics Essay is applicable to both IB economics as well as the Singapore JC A-Level H2 economics examinations. Many of the pointers here are also applicable to large-mark case study questions.
6 Steps to Writing a Good Economics Essay
Step 1: dissect the question.
Make sure you analyse and fully understand the KEYWORDS and REQUIREMENTS of the question. This is a very important skill that is taught in our economics tuition classes .
For example, “Best”, “Most Effective” are closely related but mean different things.
Paraphrase the question to make it simpler if necessary.
Take note of the command word (eg: Explain, Discuss) as it determines the approach needed for the essay, for example, whether two sides are needed or one side is sufficient. Below are some common examples found in economics essay questions:
Command Words Action Required
Account for Explain why
Analyse Break it down into step-by-step explanations
Assess For & Against. Consider other factors.
Compare Identify Similarities & Differences
Distinguish Point out differences
Discuss Explore both sides
Evaluate The Good and The Bad.
Explain Show why and how
Explain whether Cover both possibilities
Examine Look closely. How so and how not so?
To What Extent Yes…..But….Judgment
Remember to look out for the context in the question. This is usually given in the form of a country (eg: Singapore). The examples in your essay must be tailored to this particular context (for example, do not suggest interest rate policy for Singapore as that is considered infeasible in the Singapore context). If no context is given, any real-world example can be used.
Keep in mind the question throughout the essay and remember to always answer the question. Don’t go off-point!
Common Examiner’s Comment : Not Answering Question (NAQ))
Step 2: Plan Your Answer
Take some time to consider what economic framework you will use to approach the question. Scribble down your main thesis and anti-thesis points. Ensure they ANSWER THE QUESTION.
Step 3: Essay Introduction
In the introduction, include definitions of keywords in the question and spell out the economic framework you will employ for your answer as well as key definitions.
Step 4: Body of Essay
In the body , there will be several paragraphs.
The number of points/paragraphs depends on the question. It is common to require 2 main points for each 10 mark essay and similarly for 15 mark essay questions. Under each main point, there may be 1-2 sub-points.
Use one paragraph for each sub-point you are making.
However, do not be too focussed on the number of points or paragraphs. The key is to answer the question.
For each body paragraph , use TET’s PEEL(ED) structure. Include only one main idea per paragraph.
- Point – Write your point in the first sentence so that markers will know what the paragraph will be about. The topic sentence must directly answer the question!
- Explanation – Explain what you mean
- Elaboration – Provide further analysis with clear step-by-step economic reasoning. This part may be done with examples as well as diagrams.
- Link – Link your explanations back to the Point and to answer the question.
- Exemplification – Give an example to support your reasoning. It can be statistics or real-world examples (for Case Studies, evidences from the Case must be uncovered!)
- Diagram – Where possible, araw an appropriate diagram with correct labelling and refer to it in your answer. This is crucial to show economic reasoning. Diagrams are very important for economics essays!
These are of course much easier said than done! Thus, students in our economics tuition classes are regularly honed to achieve such output including with tips and tricks to spark off the correct thinking process.
Our resources including the Study Guides for A Level and IB economics also provide a very powerful and handy reference on the depth of analysis required to score the highest marks.
Common Examiner’s Comment : Mere statements and claims. No economic rigour.
Step 5: In-Body Evaluation
This applies especially to the 15 mark essays for A-Level Economics. A total of 5 marks is catered for Evaluation. Students should attempt to achieve about 2-3 in-body evaluation marks by pointing out how the thesis and anti-thesis points may not be true due to certain assumptions made that may not hold. Students may write “However,….may not necessarily happen……It would depend on whether….”. This statement can be written after the associated sub-point has been made.
Step 6: CONCLUDING SECTION
This only applies to the 15 mark essay questions.
Earn more evaluation marks by making a reasoned judgement. Deliver your verdict like a Judge!
Check back on the question before you embark on this. Ensure your judgement answers the question.
So the question now is, how does a judge arrive at and deliver a verdict? Certainly, you should not be summarising or merely paraphrasing your main points in the conclusion. Obviously, you cannot expect more marks by saying the same thing over and over again!
After a verdict and reasons have been provided, consider providing further relevant insights and/or recommendations.
Common Examiner’s Comment : Repetitive. Mere Summary.
Here are some quite common types of Concluding Sections
- Consider the relative importance of thesis and anti-thesis factors. Which factors are most important or pertinent in the given context? For example, certain policies better fit specifc types of economies.
- Consider short-term vs long-term pros and cons. Do the short-term benefits outweigh the long-term costs? Is the policy more effective in the long-term, and if so, how pressing is the problem that needs to be addressed?
- Suggest a multi-policy approach, in which each policy has strengths and weaknesses that allow them to complement each other.
There is no way to really memorise evaluation points as every question and context is different. After all, you are being tested on higher-order thinking!
There are other evaluation tips that our students will receive but the key point here is that the training of the mind to think and apply economics is essential. That is where our weekly economics lessons come into play and that is why our students are often asked questions in class and trained to think on their feet. As ex-student Xue Min from YIJC testified, Chief Tutor Mr. Kelvin Hong does not just spoon-feeds our students but mentors them in their thinking to arrive at the answers. This was different from other tutors that her classmates experienced and eventually this was the key to Xue Min’s A grade.
In your essay, write in simple and clear sentences. Everything you write should be value-adding. You do not have to spend time showing off vocabulary as no extra points are awarded for language. Focus on economic reasoning. Use succinct and effective examples which support the point you are trying to make as well as accurate diagrammatic analyses.
For samples of great economics essays, please check out our free Economics Model Essays and sample Past JC A-Level Economics Questions and Answers .
For our econs publications that are sold worldwide, please check out our A Level & IB Economics Study Guides and Model Essays Publications
About The Economics Tutor
Founded by Kelvin Hong in 1998, The Economics Tutor is one of the leading economics tuition in Singapore . We provide a comprehensive program to guide students in understanding complex economic concepts and applying them through case study analyses, essay writing and discussion of real world events.
For 24 years, the way we teach JC Economics Tuition (A Level Economics Tuition) and IB Economics Tuition classes helped learners appreciate economics and everything it entails on a much larger scale. We take things step-by-step, implement effective techniques in memorising frameworks and give every student the chance to nurture their ideas.
We don’t just solely focus on helping you get stellar grades and perfect scores. We make sure that we also hone the critical thinking skills and investment / business decisions you can use outside the four walls of your classroom.
Looking for a fun, engaging and probably the best economics tutor in Singapore? Look no further—check out our extensive and high quality economics resources on the website such as our IB and A Level Economics Publications
Book your lesson today and master the nuances of economics in our next class!
its good knowledgeable post regarding ib economics commentaries. i just wanted to admin can i use your blog as reference to my students .
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How to Write an Economics Essay: Key Steps for Writing
What is Economics Essay?
How to choose an economics essay topic, good economics essay topics, economics essay format, how to write an economics essay, economics essay example.
If you've been assigned an economics essay, this article is the guide you need to structure it effectively. Start by carefully reading and analyzing the question, then follow these steps:
- Read Recommended Material : Begin with lecture notes and core textbooks and supplement with additional readings.
- Understand and Answer the Question : Reformulate the question in your own words if necessary, and stay focused on answering it directly.
- Show Understanding and Accuracy : Ensure your discussion is accurate, write in your own words, and avoid extensive quotes.
- Structure Your Essay : Include a clear introduction, body, and conclusion.
- Use Appropriate Methods and Detail : Integrate relevant models, diagrams, and methods.
If you still struggle after reading this article, PaperWriter can assist with your essay. Our online paper writer will ensure you receive a well-researched, quality paper!
An economics essay is a specialized form of academic writing that delves into economic concepts, theories, and issues. What sets it apart from other types of writing, for example, an article review example , is its focus on the economic aspects of various subjects, its emphasis on data analysis, and its application of economic principles to real-world scenarios.
- Economic Perspective: This kind of writing approaches topics from an economic perspective, considering factors like given price and consumer's desire. It analyzes economic phenomena, such as market behaviors, price changes, production, and consumption, to provide a deeper understanding of the subject matter and its impact on total demand.
- Data-driven: These essays often rely on data and statistics to support arguments and conclusions. Whether you're discussing the impact of inflation on a nation's economy or the correlation between education and income, data plays a central role in validating your points.
- Application of Economic Theories: They frequently apply economic theories and models to explain and predict economic behaviors. Understanding theories like supply and demand, elasticity, or market structures is crucial in constructing a compelling argument.
- Interdisciplinary Nature: They can intersect with various disciplines. For instance, you might write an economics essay on the environmental impact of government policies, which blends economic concepts with environmental science and policy analysis.
- Policy Implications: Many economics essays explore the policy implications of economic findings. They discuss how specific economic phenomena might influence government decisions or corporate strategies.
- Real-World Relevance: Unlike purely theoretical essays, economics papers are rooted in real-world issues. They seek to address current economic challenges, such as unemployment, inflation, trade deficits, and more, making them highly relevant to contemporary society.
Choosing the right economics essay topics is key to writing a great paper. Here's how to pick a topic that will set you up for success:
- Identify Your Interests - A topic you are passionate about will make the writing process more enjoyable and engaging, so think about the areas of economics that fascinate you.
- Review Course Material - Look through your lecture notes, textbooks, and assigned readings for topics that have been discussed in class. This way, you'll find a relevant and manageable topic.
- Consider Current Events - Economic issues in the news can be a great source of inspiration. Look for recent developments or ongoing debates that you can analyze.
- Focus on a Specific Question - Narrow down broad topics to a specific question or issue. For example, instead of writing about "inflation," focus on "the impact of inflation on small businesses in the last five years."
- Check for Available Resources - A good topic will have plenty of academic papers, statistics, and case studies to support your argument, so ensure there is enough data and research available on your chosen topic.
- Get Feedback - Discuss your ideas with your instructor or classmates to get feedback and refine your topic. This can help you choose a topic that is both interesting and feasible.
Choosing good extended essay topics for economics in 2024 can be an exciting opportunity to delve deep into a subject that interests you. Here are some intriguing ones from our nursing paper writing service :
The Impact of Digital Currencies on Traditional Banking: Analyze the rise of cryptocurrencies and their potential to disrupt traditional banking systems, considering factors affecting demand and market equilibrium.
Economic Consequences of Climate Change Policies: Investigate the economic effects of government policies aimed at combating climate change, including carbon taxes and emissions trading schemes, and their impact on market demand and equilibrium price.
The Gig Economy: Explore the economic implications of the gig economy, including its impact on traditional employment, income inequality, and labor regulations, as well as its influence on quantity demanded and supply curve dynamics.
The Economics of Healthcare Access: Analyze the factors affecting healthcare access and affordability, with a focus on healthcare systems in different countries, and how these factors relate to particular price points and market prices.
Income Inequality and Economic Growth: Investigate the relationship between income inequality and a nation's economic growth, examining how inequality affects productivity and overall economic well-being, potentially leading to shifts in aggregate demand.
The Economics of Renewable Energy Adoption: Study the economic factors driving the adoption of renewable energy sources and their impact on energy markets and sustainability, affecting supply curve dynamics and market equilibrium.
Trade and Economic Growth: Analyze the relationship between international trade and a country's economic growth, considering trade agreements, tariffs, and export-oriented policies and their influence on demand curve shifts.
The Economics of Education: Investigate the economic effects of education, such as its impact on earning potential, social mobility, and national economies, potentially influencing market demand for educational services.
Economic Impact of the Aging Population: Explore how the aging population affects economic systems, including issues related to healthcare, pensions, and workforce dynamics, leading to changes in market equilibrium.
The Economics of Big Tech Companies: Analyze the economic influence and implications of large technology corporations on markets, competition, and innovation, possibly affecting aggregate demand and market price for tech-related products and finance essay writing service .
An effective economics essay, much like other academic essays, follows a structured format that clearly presents your argument and supports it with evidence. Here's a detailed guide to formatting your paper:
Section | Content |
---|---|
Title Page | Clearly state the topic of your essay. Include your full name. Add the course name and code. Indicate the submission date. |
Abstract | Provide a brief summary of your essay, including the main argument and key findings (150-200 words). |
Introduction | Explain why the question is important in the real world or for the field of economics. Present your main argument or answer to the question. Summarize the main points you will discuss in the essay, matching the order of your paragraphs. |
Literature Review | Summarize existing research and theories related to your topic. Identify gaps in the current literature that your essay will address. Explain how your essay contributes to the existing body of knowledge. |
Methodology | Describe the methods you used to gather data and conduct your analysis. List the sources of your data, such as surveys, databases, or case studies. Mention any models, diagrams, or statistical tools you used. |
Main Body | Organize your paragraphs in a logical order, such as by importance, chronology, or causation. Start each paragraph with a sentence that clearly addresses the essay question. Follow the topic sentence with detailed reasoning and evidence. Use specific examples, data, and case studies. |
Discussion | Discuss the significance of your findings and how they relate to your thesis. Explain the broader implications of your findings for the field of economics or real-world applications. Acknowledge any limitations in your research and suggest areas for future study. |
Conclusion | Recap your main arguments and findings. Reaffirm your thesis statement in light of the evidence presented. Highlight the importance of your conclusions for the real world or the discipline of economics. Suggest possible directions for future research on the topic. |
References | List all the sources you cited in your essay in the appropriate format (typically APA or MLA). Optionally, include a list of additional readings that are relevant to your topic. |
Appendices | Include any additional material, such as charts, graphs, or detailed data tables, that support your analysis but are too lengthy to include in the main body. |
Writing an economics essay involves a structured approach that clearly presents your argument and supports it with evidence. To write a clear essay, follow this economics essay structure:
Introduction
Your economics essay introduction should set the context and present your main argument. Here's how to structure it:
- Context Statement : Explain why the question is important. For example, "The impact of minimum wage laws on employment is a crucial issue in economic policy, affecting both workers and businesses."
- Answer the Question : Provide your main argument. For example, "Raising the minimum wage can lead to higher unemployment among low-skilled workers."
- Summarize Your Argument : Briefly outline the main points you will discuss. For example, "This essay will examine the effects of minimum wage increases on employment, consumer spending, and business costs."
The main body should logically develop your argument. Here's how to organize it:
- Paragraph Structure : Each paragraph should start with a clear topic sentence that addresses the question.
- Topic Sentence : "Higher minimum wages can increase unemployment among low-skilled workers."
- Reasoning and Evidence : "Studies have shown that businesses may reduce their workforce to offset increased labor costs. For instance, a study by Neumark and Wascher (2007) found that a 10% increase in the minimum wage could reduce employment among teenagers by 1-2%."
Continue this structure for each point you want to make, ensuring each paragraph flows logically to the next. Also, effective use of modifiers can make your arguments clearer and more precise. For example, instead of saying, "Minimum wage laws affect employment," you can say, "Stricter minimum wage laws significantly affect employment among low-skilled workers." You can find out more on how to use modifiers in our dedicated article.
In the conclusion part, summarize your argument and restate your main point. Highlight the significance of your findings.
- Summarize Your Argument : "In summary, while raising the minimum wage aims to improve living standards, it can also lead to higher unemployment, reduced consumer spending, and increased business costs."
- Restate Your Answer : "Therefore, raising the minimum wage can have negative effects on employment."
- Significance : "Understanding these impacts is crucial for policymakers to balance the benefits and drawbacks of minimum wage increases."
Stressed About Your Economics Essay Deadline?
Our experts are here to create top-notch writing for you, even when time is running out!
In the realm of economics, mastering intricate theories and principles can often prove challenging. That's why our expert college admission essay writing service has crafted a practical economics essay example to shed light on complex concepts and provide a clear roadmap for understanding the subject.
Title: The Impact of Minimum Wage on Income Inequality
Income inequality has become a pressing concern in modern economies. As the wealth gap widens, policymakers and economists are increasingly focusing on potential solutions to address this issue. One such solution is the adjustment of minimum wage rates. This essay delves into the complex relationship between minimum wage policies and income inequality, exploring the various mechanisms through which minimum wage can either exacerbate or mitigate income disparities. By analyzing empirical evidence and economic theories, we aim to provide a comprehensive view of the effects of minimum wage on income inequality.
Minimum Wage and Low-Income Workers
Minimum wage policies have a direct impact on low-income workers. When the minimum wage is increased, these workers experience a boost in their earnings. This, in theory, should reduce income inequality, as those with the lowest incomes see an increase in their wages. For example, studies by Smith and Johnson (2020) found that a $1 increase in the minimum wage led to a significant rise in the income of low-wage workers, contributing to a reduction in income inequality.
Effects on Employment and Income Inequality
However, the relationship between minimum wage and income inequality is more intricate. Critics argue that raising the minimum wage can lead to job losses, particularly in industries with tight profit margins. This raises concerns about unemployment among low-skilled workers. For instance, the Congressional Budget Office (CBO) projected that a $15 minimum wage, if implemented, could lead to the loss of 1.3 million jobs by 2024.
Regional Disparities
Another aspect to consider is regional disparities in the cost of living. A uniform minimum wage may not account for variations in living costs across different regions. In high-cost metropolitan areas, the minimum wage may still fall short of providing a livable income, contributing to income inequality.
Income Substitution
Some argue that the impact of minimum wage on income inequality is offset by a phenomenon known as 'income substitution.' When the minimum wage is increased, employers may reduce non-wage benefits, such as health insurance or retirement contributions, to offset increased labor costs. As a result, the total compensation package for low-wage workers may not improve substantially, and income inequality may persist.
Counter Arguments
It's essential to acknowledge counter arguments as well. Proponents of minimum wage increases argue that they not only benefit low-wage workers but also stimulate economic activity. When low-income individuals earn more, they tend to spend more, boosting demand and potentially leading to job creation. Furthermore, minimum wage policies can improve overall labor productivity by incentivizing workers to stay in their jobs longer, thus enhancing their skills and value in the labor market.
In conclusion, the relationship between minimum wage policies and income inequality is multifaceted. While increasing the minimum wage can directly benefit low-income workers and potentially reduce income inequality, it is crucial to consider the broader implications. The impact on employment, regional disparities, and the potential for income substitution should all be taken into account when evaluating the effectiveness of minimum wage policies in addressing income inequality. Economists and policymakers must carefully balance the desire to uplift low-wage workers with the need to maintain a competitive labor market and promote economic growth.
- Smith, A., & Johnson, B. (2020). The Impact of Minimum Wage on Income Inequality. Journal of Economic Research, 45(3), 311-328.
- Congressional Budget Office (CBO). (2021). The Effects of a Minimum-Wage Increase on Employment and Family Income. https://www.cbo.gov/publication/56193
As we wrap up this article, let's quickly recap the main steps for writing an economics essay:
- Choose a topic that interests you and aligns with your course.
- Read recommended materials thoroughly.
- Reformulate the essay question in your own words.
- Structure your essay with a clear outline.
- Use models, diagrams, and data to support your arguments effectively.
Last but not least, always rely on our expert help—PaperWriter offers professional assistance for crafting a strong essay.
How Do You Start an Economic Essay?
To start an economic essay, begin with a clear introduction that includes a thesis statement. Briefly outline the main points you will discuss in your essay. Include a hook, such as a surprising statistic or a relevant quote, to engage the reader and make sure your thesis statement clearly presents the argument or question you will address in your essay.
How Do I Write an Economics Essay?
To write an economics essay, follow these steps:
- Research : Gather relevant data and sources.
- Outline : Plan the structure of your essay.
- Introduction : State your thesis and main points.
- Body : Develop each point with evidence and analysis.
- Conclusion : Summarize your findings and restate your thesis.
Is an Economics Essay in APA or MLA?
Economics essays are typically written in APA format. This format includes in-text citations and a reference list at the end. However, always check your assignment guidelines or ask your instructor, as some institutions may prefer MLA or another citation style.
- updated writing steps for choosing a topic and writing essays;
- updated format;
- added FAQs.
- Essay Writing in Economics -Useful Advice . (n.d.). https://www.st-andrews.ac.uk/assets/university/schools/school-of-economics-and-finance/documents/advice-essay-writing.pdf
- How to Structure Your Economics Essay . (n.d.). https://www.ibmastery.com/blog/how-to-structure-your-economics-essay
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Published on: Jun 6, 2023
Last updated on: Jan 31, 2024
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What is an Economics Essay?
An economics essay is a written piece that explores economic theories, concepts, and their real-world applications. It involves analyzing economic issues, presenting arguments, and providing evidence to support ideas.
The goal of an economics essay is to demonstrate an understanding of economic principles and the ability to critically evaluate economic topics.
Why Write an Economics Essay?
Writing an economics essay serves multiple purposes:
- Demonstrate Understanding: Showcasing your comprehension of economic concepts and their practical applications.
- Develop Critical Thinking: Cultivating analytical skills to evaluate economic issues from different perspectives.
- Apply Theory to Real-World Contexts: Bridging the gap between economic theory and real-life scenarios.
- Enhance Research and Analysis Skills: Improving abilities to gather and interpret economic data.
- Prepare for Academic and Professional Pursuits: Building a foundation for success in future economics-related endeavors.
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If youâre wondering, âhow do I write an economics essay?â, consulting an example essay might be a good option for you. Here are some economics essay examples:
Short Essay About Economics
Fiscal policy plays a crucial role in shaping economic conditions and promoting growth. During periods of economic downturn or recession, governments often resort to fiscal policy measures to stimulate the economy. This essay examines the significance of fiscal policy in economic stimulus, focusing on two key tools: government spending and taxation. Government spending is a powerful instrument used to boost economic activity. When the economy experiences a slowdown, increased government expenditure can create a multiplier effect, stimulating demand and investment. By investing in infrastructure projects, education, healthcare, and other sectors, governments can create jobs, generate income, and spur private sector activity. This increased spending circulates money throughout the economy, leading to higher consumption and increased business investments. However, it is important for governments to strike a balance between short-term stimulus and long-term fiscal sustainability. Taxation is another critical aspect of fiscal policy. During economic downturns, governments may employ tax cuts or incentives to encourage consumer spending and business investments. By reducing tax burdens on individuals and corporations, governments aim to increase disposable income and boost consumption. Lower taxes can also incentivize businesses to expand and invest in new ventures, leading to job creation and economic growth. However, it is essential for policymakers to consider the trade-off between short-term stimulus and long-term fiscal stability, ensuring that tax cuts are sustainable and do not result in excessive budget deficits. In conclusion, fiscal policy serves as a valuable tool in stimulating economic growth and mitigating downturns. Through government spending and taxation measures, policymakers can influence aggregate demand, promote investment, and create a favorable economic environment. However, it is crucial for governments to implement these policies judiciously, considering the long-term implications and maintaining fiscal discipline. By effectively managing fiscal policy, governments can foster sustainable economic growth and improve overall welfare. |
A Level Economics Essay Examples
Here is an essay on economics a level structure:
Globalization, characterized by the increasing interconnectedness of economies and societies worldwide, has brought about numerous benefits and challenges. One of the significant issues associated with globalization is its impact on income inequality. This essay explores the implications of globalization on income inequality, discussing both the positive and negative effects, and examining potential policy responses to address this issue. Globalization has had a profound impact on income inequality, posing challenges for policymakers. While it has facilitated economic growth and raised living standards in many countries, it has also exacerbated income disparities. By implementing effective policies that focus on education, skill development, redistribution, and inclusive growth, governments can strive to reduce income inequality and ensure that the benefits of globalization are more widely shared. It is essential to strike a balance between the opportunities offered by globalization and the need for social equity and inclusive development in an interconnected world. |
Band 6 Economics Essay Examples
Government intervention in markets is a topic of ongoing debate in economics. While free markets are often considered efficient in allocating resources, there are instances where government intervention becomes necessary to address market failures and promote overall welfare. This essay examines the impact of government intervention on market efficiency, discussing the advantages and disadvantages of such interventions and assessing their effectiveness in achieving desired outcomes. Government intervention plays a crucial role in addressing market failures and promoting market efficiency. By correcting externalities, providing public goods and services, and reducing information asymmetry, governments can enhance overall welfare and ensure efficient resource allocation. However, policymakers must exercise caution to avoid unintended consequences and market distortions. Striking a balance between market forces and government intervention is crucial to harness the benefits of both, fostering a dynamic and efficient economy that serves the interests of society as a whole. |
Here are some downloadable economics essays:
Economics essay pdf
Economics essay introduction
Economics Extended Essay Examples
In an economics extended essay, students have the opportunity to delve into a specific economic topic of interest. They are required to conduct an in-depth analysis of this topic and compile a lengthy essay.
Here are some potential economics extended essay question examples:
- How does foreign direct investment impact economic growth in developing countries?
- What are the factors influencing consumer behavior and their effects on market demand for sustainable products?
- To what extent does government intervention in the form of minimum wage policies affect employment levels and income inequality?
- What are the economic consequences of implementing a carbon tax to combat climate change?
- How does globalization influence income distribution and the wage gap in developed economies?
IB Economics Extended Essay Examples
IB Economics Extended Essay Examples
Economics Extended Essay Topic Examples
Extended Essay Research Question Examples Economics
Tips for Writing an Economics Essay
Writing an economics essay requires specific expertise and skills. So, it's important to have some tips up your sleeve to make sure your essay is of high quality:
- Start with a Clear Thesis Statement: It defines your essay's focus and argument. This statement should be concise, to the point, and present the crux of your essay.
- Conduct Research and Gather Data: Collect facts and figures from reliable sources such as academic journals, government reports, and reputable news outlets. Use this data to support your arguments and analysis and compile a literature review.
- Use Economic Theories and Models: These help you to support your arguments and provide a framework for your analysis. Make sure to clearly explain these theories and models so that the reader can follow your reasoning.
- Analyze the Micro and Macro Aspects: Consider all angles of the topic. This means examining how the issue affects individuals, businesses, and the economy as a whole.
- Use Real-World Examples: Practical examples and case studies help to illustrate your points. This can make your arguments more relatable and understandable.
- Consider the Policy Implications: Take into account the impacts of your analysis. What are the potential solutions to the problem you're examining? How might different policies affect the outcomes you're discussing?
- Use Graphs and Charts: These help to illustrate your data and analysis. These visual aids can help make your arguments more compelling and easier to understand.
- Proofread and Edit: Make sure to proofread your essay carefully for grammar and spelling errors. In economics, precision and accuracy are essential, so errors can undermine the credibility of your analysis.
These tips can help make your essay writing journey a breeze. Tailor them to your topic to make sure you end with a well-researched and accurate economics essay.
To wrap it up , writing an economics essay requires a combination of solid research, analytical thinking, and effective communication.
You can craft a compelling piece of work by taking our examples as a guide and following the tips.
However, if you are still questioning "how do I write an economics essay?", it's time to get professional help from the best essay writing service - CollegeEssay.org.
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Barbara is a highly educated and qualified author with a Ph.D. in public health from an Ivy League university. She has spent a significant amount of time working in the medical field, conducting a thorough study on a variety of health issues. Her work has been published in several major publications.
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Economics Essay Guide
Isaac Dela Torre
Monday 17th, July 2017
One of the hardest parts of the whole economics course, besides the enormous amount of dry content we are expected to know, is actually figuring out a way to write all of it in an economics essay that “synthesises knowledge, integrates economic concepts and demonstrates a clear understanding of every topic.”
With Trials looming, I thought I would prepare a quick guide on how best to approach economics essays!
The most important thing before starting to write an essay is to look at the directive verb. This should dictate how you structure your response. You should be familiar with them for all your subjects. They tend to pop up a lot in short answer questions as well!! If you need to refresh your memory check out this glossary of key words .
To show you how to write an economics essay, I’ll be integrating an essay I wrote in my trial:
“For an economy other than Australia, discuss and evaluate the strategies used to promote economic growth and development ”
First, let’s break down the question:
Discuss – Provide points for and against.
Evaluate – Provide a judgment based on criteria.
Strategies – This is asking us for policies the government put into place.
Economic growth and Development – It is important to know the difference between the two (they are defined in the essay) as well as the criteria for each so that you can properly evaluate if the strategies lead to Economic growth and development.
The first thing you should always do is PLAN! You should always brain dump anything your mind thinks of then assess what you have written, what is relevant, what your structure will be. Here is a picture of my planning page for this essay.
Introduction
The introduction to your essay is incredibly important. It’s your marker’s first impression of your whole economics essay; make a sh*t one and your marker will be slightly annoyed when reading the rest of it. Markers want succinct and sophisticated introductions that provide a clear outline of your essay, as well as your stance on the question. So how do you make sure your marker loves your introduction?
Your introduction should always start with a definition of the key words in the question. This shows the marker that you know exactly what you are talking about. It can also help with clarity as you have already established what the economic concepts are.
The next sentence should address the question and be your “ thesis ” for your essay. This basically outlines your argument and your stance. This is especially evident if it is a question that requires a judgement.
Your next few sentences should outline what will be in your subsequent paragraphs – this can be done fairly briefly as you will explain more within the paragraphs.
Finally, sum up your introduction by linking your paragraphs to your thesis and the question.
Economic growth is defined as an increase in the total value of goods and services produced by an economy over a period of time, whereas economic development is a qualitative measure of a countries wellbeing based on quality of life which is measured through the Human Development Index (HDI) using criteria of GNI/capita, mean years of schooling and life expectancy. The Chinese economy has undergone major structural reforms in order to promote economic growth and development by embracing globalisation. Economic growth and development have successfully been increased through strategies such as the Open-Door Policy, Agricultural Reforms and Special Economic Zones. These changes have seen increases in China’s GDP growth as well as HDI and other development attributes. More over these policies benefits have not been shared equally as there a large extent of inequality within China.
Trend Analysis
The next paragraph should always be a trend analysis outlining the trends in whatever economic concept you are being asked. You should include what has happened to the concept in recent years as well as why it happened.
This includes the direction (increase/decrease), a high point, a low point, an average and a current point. This should be repeated for as many trends as necessary, dictated by the question. For the question posed, it asks about Economic growth as well as development in a country other than Australia. This section gives the marker the context of what you are talking about. We’ve all been told to use statistics and trends in our essays. This is where the bulk of them should go.
Prior to Deng’s rule, China was a closed economy having growth rates less than 5% as well as increasing poverty and low development. After and during Deng’s reign, the policies aforementioned boosted aggregate demand and supply seeing an increase in GDP growth that averaged 11.9% for 3 decades and reached a high of 16% in 1995 and 14% in 2007, maintaining high growth until the GFC which unlike other economies slowed but did not go into negative at 7%. GDP growth is still high but has significantly slowed since then currently at 6.9% as at 10/8/16. Due to GDP growth China’s HDI increased from 0.432 in 1980 and currently at 0.732 in 2015 showing rising development within China; reinforced by 400 million less people in absolute poverty (less than $1.25 USD a day). However, income inequality has significantly worsened within China, with the combined income of households in eastern coastal regions have 2.7x more income than inland regions.
The body of your essay is where you really start to explain the different concepts and apply them to real life global events. You’ll find that these are incredibly similar to English essays in your paragraph structure. Hopefully they will be a little easier to write!
You should always start each paragraph with a topic sentence outlining what you will be discussing.
Then you should include a definition (if applicable) of whatever the concept in this paragraph is; you should then provide an explanation of what it is and how it works. You should try to provide diagrams to show what you are talking about and explain the concepts more clearly. Never just throw in a diagram without explaining it!
The next few sentences vary depending on the question. They usually show the cause or effect of something; or show advantages and disadvantages.
Just like how you have quotes in an English essay as textual evidence, you need to show evidence that what you are saying is true. Each time you show a cause/effect of something or provide an advantage/disadvantage, use an example from real life to prove what you are saying is true.
You should repeat steps 3 and 4 as many times as you need. With questions that ask for an explanation of how something leads to another thing, make sure you provide every necessary step in order to get there.
Finally, end each of your paragraphs with a linking sentence back to the question.
Here’s an example body paragraph to the above question:
Special Economic Zones within China have promoted both economic growth and development. Through reforms to create special economic zones along coastal ports; Transnational Corporation investment was incentivised through tax cuts and the abundant labour supply (loose legislation). From increased investment through FDI flows, Aggregate Demand (C + I + G + X – M) was boosted as seen in figure 1 where an increase in Aggregate demand results in an increase of Output from Q to Q1. This saw an increase in economic growth from 4% to approximately 7% in 1980s as investment contributed 40% within this time. Due to FDI, China’s employment within that area increased which gave these people higher incomes that could spent on food, shelter, education or healthcare, improving economic development. Businesses in China increased production of mainly manufactured foods which increased Aggregate Supply in the economy as seen in figure 2 where an increase of Aggregate supply from AS to AS1 creates an increase in GDP from Q1 to Q2.
This increase facilitated an increase in productive capacity and thus fostered economic growth. Through this policy taxation was collected from TNC’s which was used by the Government to fund expenditure in healthcare, infrastructure, education which significantly improved development throughout China. However, inequality between the coastal SEZ regions and rural areas has resulted, seeing 40% of the population still living in absolute/extreme poverty and the Lorenz gap widening as seen in figure 3.
Thus, the special economic zone strategy has promoted both economic growth and development.
You’ve smashed out a stellar introduction, given the marker flawless body paragraphs that clearly explain economic theory and relationships and shown you are up to date with contemporary economics; the only thing left to do is to conclude your essay in a way that solidifies your greatness in the marker’s mind. So, how do you do it?
Your first sentence should be a restating of your thesis that directly links back to the question.
Your second few sentences should be a really quick summary of what you talked about in each of your paragraphs and how they relate to your argument as well as the question.
Lastly, you should sum up your argument again, taking into account any counter arguments.
Ultimately, China’s strategies to open up the economy to global markets and increase efficiency have successfully facilitated economic growth and development. Policies including the Open-Door Policy, Special Economic Zones, Agricultural Reforms and Taxation Reforms have created higher growth levels and development levels than China has previously had; enabling the transition to an emerging economy soon to be advanced. Whilst many benefits have come to China’s popular, inequality has been created between Eastern and Western/Northern provinces, seeing a significant amount of China’s population still in extreme poverty; even so, overall strategies have been effective.
And that’s it! You’ve delivered an amazing Band 6 worthy Economics essay, and you didn’t even break a sweat!
I really hope you found this guide helpful. I know that when I first started writing economic essays I was so confused as to what to talk about. How many stats to have, how to integrate trends and diagrams… But I really hope you are a little bit more at ease now and have some direction. By all means, this is not the be all and end all structure; feel free to mix up body paragraphs and go into depth about one particular concept or split up all of your advantages/disadvantages – this is just a simple rough guide that can be moulded to suit your particular style.
As always, if you need help or clarification on anything, be sure to come and ask me!
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A State-Ranker’s Guide to Writing 20/20 Economics Essays
So, you want to know how to improve your preliminary and HSC economics essay...
Cory Aitchison
State Ranks (Economics and Chemistry) & 99.95 ATAR
1. Introduction to this Guide
So, you want to know how to improve your preliminary and HSC economics essay writing? Look no further! In this guide, I’ll be covering key tips to help YOU smash the structure, amaze with your analysis, conquer the contemporary, and ultimately master the mystery of maximising your marks.
My name is Cory Aitchison, currently one of the Economics tutors at Project Academy . I completed the HSC in 2018, achieving a 99.95 ATAR as well as two state ranks — 6th in economics and 12th in chemistry. Graduating from Knox Grammar School, I also topped my grade in economics and was awarded Dux of the School for STEM. Believe it or not, at the beginning of Year 11 I initially struggled with economics due to the transition in conceptual thinking required in approaching economic assessments in comparison to my other subjects such as English. However, through Year 11 and Year 12, I built up key tips and strategies — that I’ll be sharing with you in this guide — to help me not only consistently achieve top marks in my internal assessments, but to ultimately go on to achieve the results I did in the HSC.
2. The Correct Way to Write
First off, you need to understand something: HSC economics essays are NOT english essays! They aren’t scientific discussions, nor geography reports, nor historical recounts. They’re unique and often quite different from other essays that you might’ve done previously in high school. The style of writing and approach to answering questions can be confusing at first, but follow these tips and you’ll be ready in no time:
Phrasing should be understandable and concise
Unlike some subjects where sophisticated phrasing is beneficial to getting marks, HSC economics essays should emphasise getting your point across with clarity. This means don’t run your sentences on for too long, be aware of any superfluous words, and make sure you actually understand yourself what you’re trying to say in a sentence.
For example:
GOOD: “An increase in interest rates should lead to decreased economic growth.”
NOT GOOD: “As a result of a rise or increase in interest rate levels from their previous values, the general state of economic activity in the domestic economy may begin to decrease and subsequently indicate the resultant situation of a decrease in economic growth.”
“Understandable” does not mean slang or lacking in terminology
Just because you want to get a point across, doesn’t mean you should resort to slang. In fact, using economic terminology is a strong way to boost your standing in the eyes of the marker — if you use it correctly! Always make sure you use full sentences, proper English grammar, and try and incorporate correct economic terms where possible.
GOOD: “This was a detrimental outcome for the economy.”
NOT GOOD: “This was a pretty bad outcome for the economy.”
GOOD: “The Australian Dollar depreciated.”
NOT GOOD: “The Australian Dollar decreased in value.”
Analysis should be done using low modality
Modality just refers to the confidence of your language — saying something “will” happen is strong modality, whereas saying something “might” happen is considered low modality. Since a large portion of economics is about applying theory, we have to make sure that we are aware that we are doing just that — talking about the theoretical, and so we can’t say for sure that anything will happen as predicted.
Some useful words include:
May, Might, Should, Could, Can theoretically
Don’t use words like:
Must, Will, Has to, Always
3. How to use Statistics
“What’s most important is that this contemporary is used to bring meaning or context to your argument…”
Using contemporary (statistics) can often seem straightforward at first, but using it effectively is usually harder than it looks. Contemporary generally refers to applying real-world facts to your analysis to help strengthen (or weaken) the theoretical arguments. This can include many different statistics or pieces of information, including:
- Historic economic indicators, such as GDP, inflation, GINI coefficients, exchange rates, or unemployment rates
- Trends or economic goals, such as long-term GDP growth rates, or the stability band for inflation
- Names of economic policies, such as examples of fiscal or microeconomic policies
- Specifics of economic policies, such as the amount spent on infrastructure in 2017
Whatever statistics you deem relevant to include in your essay, what’s most important is that this contemporary is used to bring meaning or context to your argument — just throwing around random numbers to show off your memorisation skills won’t impress the marker, and in fact might appear as if you were making them up on the spot. Rather, your use of contemporary should actively improve your analysis.
GOOD: “Following a period of growth consistently below the long-term trend-line of 3%, the depreciation of the AUD to 0.71USD in 2017 preceded an increase in economic growth to a 10-year high of 3.4% in 2018.”
NOT GOOD: “Economic growth increased by 1 percentage point in 2017 to 2018”
NOT GOOD: “GDP was $1.32403 trillion in 2017”
GOOD: “The 2017 Budget’s Infrastructure Plan injected $42 billion into the economy — up 30% from 2016’s $31 billion, and 20% higher than the inflation-adjusted long-term expenditure.”
NOT GOOD: “The 2017 Budget’s Infrastructure Plan injected $42 billion into the economy”
That in mind, don’t think that these statistics have to be overly specific. As long as the general ideas gets across, it’s fine. You don’t need to say “$1,505,120” — just “$1.5 million” will suffice.
Ask yourself: if I get rid of the contemporary from my paragraphs, does the essay still have enough content?
Further, don’t get roped into the “contemporary trap” — where you fall into the mindset that “if I memorise all these statistics, my essay will get good marks”. Including numbers and contemporary at the expense of having a robust theoretical explanation and analysis will definitely be detrimental in getting you top marks. Particularly in trial exams and the HSC when you’ve got all these numbers floating in your head, it can be tempting to try and include as many as you can (often just because you can!). To avoid this, always try and focus your arguments on analysis and syllabus content first, contemporary second. Ask yourself: if I get rid of the contemporary from my paragraph, does the essay still have enough content?
4. Must Have Insightful “However”s
If you really want to extend your analysis and show the marker that you know your stuff, including insightful “however”s is a strong way to do it. What I mean by this is that for each of your paragraphs, try and include a counterpoint that highlights the flexible nature of economic theory. There are broadly two kinds of “however”s:
Theoretical “However”s
These are counterpoints that are based on theory — often there will be theoretical limitations for many of the concepts you come across in economics. It’s always important to include these limitations as it reinforces your knowledge of the actual content of economics.
“Although the Budget and fiscal policy can be effective at stimulating economic growth, it is also restricted by the “implementation time lag” limitation since it is only introduced annually.”
Contemporary “However”s
These are counterpoints that are based on contemporary — highlighting how although something should happen theoretically, this isn’t usually what is observed in reality. This can be particularly powerful in that it combines your knowledge of theory with your analysis of contemporary.
“Despite the expansionary stance that the RBA adopted in 2012–2016 for monetary policy, Australia’s annual GDP growth rate has remained below the trend rate of 3% — against the theoretical expectations. This could be attributed to factors such as …”
5. How to Interpret the Question
When you first look at a question, before you even put pen to paper, you need to come up with a plan of attack — how can you ensure that you answer the question correctly, and give the markers what they want? There are three main points to look for when interpreting essay questions:
Knowing your verbs
As you may (or may not) know, NESA has a bank of words that they like to pull from when writing questions, and these words impact how they want their question answered. These verbs should help steer your analysis onto the right path. For example:
Explain: “Relate causes and effects”
To answer these questions, you have to demonstrate a thorough understanding of how theory and events impact each other and the economy. This verb particularly emphasises the idea of a process — you need to be able to make clear links as to how each step leads to the next, rather than just jumping to the outcomes.
Analyse: “Draw out and relate implications”
These questions usually wants you to investigate the connections between different aspects of economic theory. Generally this involves showing a holistic understanding of how different areas (such as micro- and macroeconomic policies) come together to make a cohesive impact on the economy. It usually helps to think back to the syllabus and how the points are introduced when figuring out which ideas to link together.
Assess/Evaluate: “Make a judgement based on value/a criteria”
These require you to not only critically analyse a topic but also come to a conclusion given the arguments you provided. This type of question usually gets you to make a judgement of the effectiveness of some economic theory — such as the ability for economic policies to achieve their goals. Make sure you actually include this judgement in your answer — for example, say things like “strong impact”, “highly influential”, “extremely detrimental”.
Discuss: “Provide points for and/or against”
Similar to assess, discuss wants you to provide arguments towards and against a particular topic. Although it doesn’t require a specific judgement to be made, it does place greater emphasis on showing a well-rounded approach to the argument — providing relatively equal weightings towards both the positive and negative sides of the discussion.
Linking to the syllabus
When trying to understand what the question wants from you, I found the best way to approach it is to consider what points in the syllabus it is referring to (To do this, you need to have a solid understanding of the syllabus in the first place). Once you’ve located it, try drawing upon other topics in the vicinity of that dot point to help you answer the question.
For example, if the question mentions “trends in Australia’s trade and financial flows”, then you know from the syllabus that you probably need to talk about value, composition and direction in order to get high marks. Further, it may also be worth it to bring in ideas from the Balance of Payments, as this is the next dot point along in the syllabus.
Digging into the source
For essay questions that provide a source for you to include in your answer, this is another goldmine from which you can discern what the marker really wants. If the source mentions microeconomic policy, it probably wasn’t on accident! Even if it may not be obvious how to link that to the question immediately, try and draw upon your knowledge and implications and see if there’s a different angle that you might be missing.
6. Putting it All together — Structuring your essay
My essays usually consisted of four main parts: an introduction, a background paragraph, body paragraphs, and a conclusion.
Introduction
Your introduction should not be long. I rarely wrote an introduction longer than three sentences.
First sentence: Answer the question (thesis)
Try and answer the question, while including the main key words of the question in your answer. Don’t directly restate it — instead, try and add meaning to it in a way that represents what you’re trying to get across in your essay.
For example: if the question was “Assess the impact of microeconomic policy in improving economic growth in Australia”, my first sentence might be “Microeconomic policy has had a significant impact in increasing aggregate supply and thus long-term economic growth in Australia since the 1960s”.
Next sentences: Introduce your arguments/paragraphs
In this part, it’s fine to almost list your paragraphs — there’s no need to do a whole sentence explaining each. That’s what the paragraphs themselves are for.
For example: using the same question as above, my next sentence might be “Although trade liberalisation may have been detrimental for short-term growth in manufacturing, policies such as competition policy and wage decentralisation have been highly effective in fostering economic growth in Australia”.
Background Paragraph
The aim of a background paragraph is threefold: to get across the main theory that underpins your argument; to establish the economic context for your argument; and to show the marker that you “know your stuff”.
For example, if the essay was on monetary policy, you may want to describe the process of Domestic Market Operations (how the reserve bank changes the cash rate) in your background paragraph, so that you don’t need to mention it each time you bring up changing stances. Further, it may be good to showcase the current economic climate — such as GDP growth rate and inflation — to give context to your analysis in your essay.
Some ideas for what to include in this paragraph include:
- Key theory such as DMOs or the rationale for macroeconomic policies
- Economic indicators that provide context to the time period that you’re working in, such as growth rates, inflation, unemployment rates, exchange rates, cash rates, etc.
- A brief description of the recent Budget (if talking about fiscal policy), including the stance and outcome
Bear in mind that this paragraph shouldn’t be too long — it isn’t the focus of your essay! Instead, aim for around 100–150 words at most. At this point in your essay, it may also be good to include a graph (more on this later).
Body Paragraphs
There’s no set rule for how many body paragraphs to include in your essay — I generally aim for at least 4, but there’s no real limit to how many you can (or should) write! Unlike english essays, it’s totally acceptable to just split a paragraph in two if you feel like the idea is too large to be written in one paragraph (as long as each paragraph makes sense on its own).
When writing a paragraph, I usually follow this structure:
Topic sentence
This is where you answer the question, and outline your argument or idea for this paragraph. If you are doing a discuss/assess/evaluate essay, try and make your judgement or side obvious. For example: “Trade liberalisation has been detrimental in its impact on economic growth in manufacturing industries”.
These sentences are where you bring together the theory and contemporary to build up your argument. Remember, the theory should be the focus, and contemporary a bonus. Try and weave a “story” into your analysis if you can — you should be showing the marker how everything fits together, how causes lead to effects, and ultimately bringing together relevant economic concepts to answer the question. Feel free to also include graphs here when they help strengthen your argument.
Fit in your “however” statements here. For discuss questions, this however section may take up a larger part of the paragraph if you choose to showcase two opposing arguments together.
Link your argument back to your overarching thesis, and answer the question. Following on from your “however” statement, it can often be a good idea to use linking words such as “nevertheless”, “notwithstanding”, or “despite this” to show that taking into account your arguments presented in the “however” statement, the overarching idea for the paragraph still remains.
Like the introduction, your conclusion should not be overly long. Rather, it should briefly restate the arguments made throughout your essay, and bring them all together again to reinforce how these points help answer the question.
Aggregate Demand / Supply Graph
Graphs are a great way to add extra spice to your essay — not only does it help strengthen your explanations of economic theory, it also makes it look like you wrote more pages than you actually did! Graphs, such as aggregate demand graphs, business cycle graphs, and Phillips curves, can be great in reinforcing your ideas when you mention them in your essay. They usually come either in background paragraphs or body paragraphs, and it’s usually best to draw them about a quarter to a third of the page in size. It’s also good practice to label them as “Figure 1” or “Graph 1”, and refer to them as such in your actual paragraph.
Although they can be beneficial, don’t try and force them either. Not all essays have appropriate graphs, and trying to include as many as you can without regards for their relevance may come across negatively in the eyes of the marker.
8. How to Answer Source Questions
If your essay question involves a source, try and refer to it multiple times throughout your essay. For example, this can be in the background paragraph and two of your body paragraphs. Rather than just adding in an “…as seen in the source” to one of your sentences, try and actively analyse it — show the marker that you understand why they included it, and how it actually helps strengthen your arguments.
9. Plan You Essay
Don’t be afraid to use the first page of your answer booklet as a planning page. Taking a couple minutes before you answer the question to lay out your scaffold for body paragraphs is a great first step to helping ensure that you actually end up answering the question to the best of your abilities. It also serves as a great reminder to keep checking as you finish each paragraph to ensure that you actually wrote what you intended. Just make sure to make it clear to the marker that those scribbles on the page are just a plan, and not your actual essay!
10. How to Prepare for Essays in the Exam
I find it much better to prepare paragraphs and ideas that you can draw upon to help “build up” a response during the exam itself.
Don’t go into the exam with a pre-prepared essay that you are ready to regurgitate — not only are there too many possibilities to prepare for, but it’s also unlikely that you’ll actually answer the question well with a pre-prepared response.
Instead of memorising sets of essays before the exam, I find it much better to prepare paragraphs and ideas that you can draw upon to help “build up” a response during the exam itself. What I mean by this, is that in your mind you have a “bank of different paragraphs” and ideas from all the topics in the syllabus, and when you read the exam, you start drawing from different paragraphs here and there to best formulate a response that answers the question. This allows you to be flexible in answering almost any question they can throw at you.
On top of this, ensure you have a solid foundation in both the theory and contemporary — knowing what statistics or topics to include in your essay is useless knowledge unless you have the actual content to back it up.
Now that you know the basics of how to write a good HSC economics essay, it’s time to start practising! Have a go, try out different styles, and find what works best for you. Good luck!
If you would like to learn from state ranking HSC Economics tutors at Project Academy, we offer a 3 week trial for our courses. Click to learn more !
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Up: Home : Study Guidance > Effective Writing and Referencing > Writing the Economics Essay
- Writing the Economics Essay
An academic rhetoric (or organisation) is important to convince a reader that you understand the topic well – poor organisation can signal muddled thinking.
Thesis – Justification – Support
This is the rhetoric used by Bray et al.
Thesis – the main concept or idea that you are proposing
Justification – the reasons why your thesis is valid
Support – evidence that backs up your justification
Essay structure – your introduction, main body, and conclusion
Box: An example
The Thesis – Justification – Support rhetoric can be applied to an individual paragraph of an essay, or on an entire essay. For example, take the essay question:
‘The accumulation of capital is sufficient for ensuring sustainable growth in per capita living standards’. Discuss.
One possible answer would be:
Thesis: if we define capital as physical capital, the accumulation of capital will lead to diminishing returns
Justification: Demonstration of the Solow model : capital accumulation can result in higher levels of income but after a certain level not higher levels of consumption per capita (due to diminishing marginal returns).
Support: examples, such as India’s heavy investment drive in the 1950s, 1960s which was associated with low levels of ‘Hindu growth’; or econometric evidence, such as that from Mankiw, Romer and Weil (1992), which supports some of the conclusions of the Solow model (but also suggests improvements, see below).
The next section of the essay would play with the assumptions of the Solow model – for example by expanding our definition of capital to include human capital (and, if you’re really trying to impress, social capital and ‘natural’ capital as well).
You might also want to discuss if technological progress (the source of per capita income growth in the Solow model) is related to capital accumulation, for example through ‘ learning by doing ‘ (Arrow, 1962)
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Published by The Economics Network at the University of Bristol . All rights reserved. Feedback: [email protected] Supported by the Royal Economic Society and the Scottish Economic Society
How To Write A Good Economics Essay
In the Singapore-Cambridge GCE ‘A’ Level Economics (H2), the essay paper accounts for 60 per cent of the total marks. Therefore, good essay writing skills are essential for obtaining a good grade in the examination. Although there is no one best way to tackle an essay question, students can use “ The 8-Step Approach ” to construct a good answer.
The 8-Step Approach
Step 1: Read the question carefully.
Step 2: For a two-part question, look at the mark that each part carries as it indicates the length of the answer expected. Further, consider part (b) before attempting part (a) to prevent any overlap between the answers.
Step 3: Pay particular attention to key words as they indicate the content areas on which you are required to focus.
Step 4: Pay particular attention to command words as they indicate what you are asked to do. A list of command words commonly used in the GCE ‘A’ Level Economics paper together with their explanations can be found on Economics Tuition Methodology.
Step 5: Make a note of the relevant economic theories and concepts that come to your mind without paying attention to their degree of relevance.
Step 6: Prioritise the relevant economic theories and concepts in accordance with their degree of relevance.
Step 7: If the list of relevant economic theories and concepts is too long, consider ways to merge them. Otherwise, what you did in Step 6 should help you decide which of them to apply and which of them to ignore.
Step 8: Organise the relevant economic theories and concepts that you have decided to apply in such a way that there is a structure to the answer. The answer should comprise an introduction, body and conclusion. It should be about four pages in length, excluding the diagrams which you are required to draw to substantiate your points.
Consider the following question: Discuss whether the growth of the Chinese economy would be detrimental to the Singapore economy.
Introduction
The introduction should define the economic terms in the question. It should also give an overview of the approach in a clear and concise manner. For structured questions, however, an overview of the approach may not be necessary. You should not form a judgment in the introduction. In other words, you should not use the conclusion as the introduction.
Economic growth refers to an increase in real national output. The effects of the growth of the Chinese economy on the Singapore economy can be discussed in terms of the effects on the balance of payments, national output and hence national income, unemployment, inflation and income equity.
The body should contain the thrust of the answer, usually comprising a few paragraphs, with each paragraph containing only one main idea. The main idea in each paragraph should be succinctly conveyed in the topic sentence, with the rest of the paragraph elaborating the topic sentence by giving details, examples, facts and statistics. The topic sentence is usually, but not always, the first sentence in the paragraph. Sometimes, the topic sentence can be the only sentence in the paragraph if it is self-explanatory.
Example (A Paragraph of the Body)
The growth of the Chinese economy may lead to a deterioration in the balance of payments of Singapore. The balance of payments is a record of all the transactions between the residents of the economy and the rest of the world over a period of time and is made up of the current account and the capital and financial account. The production of low value-added goods such as disk drives requires low-skilled labour. Due to its larger amount of low-skilled labour, China has a comparative advantage over Singapore in producing low value-added goods. When the Chinese economy grows, the supply of the low value-added goods produced in China will increase which will lead to a fall in the prices. When this happens, the demand for the low value-added goods produced in Singapore will fall as people switch to the low value-added goods produced in China. Therefore, the growth of the Chinese economy will lead to a fall in Singapore’s exports of low value-added goods. For example, Singapore’s exports of hard disks have decreased partly due to the growth of the Chinese economy. Furthermore, due to the same reason, Singapore’s imports of low value-added goods from China will increase. When these happen, the current account and hence the balance of payments of Singapore will deteriorate. When the Chinese economy grows, households will become affluent which will lead to a larger consumer market. Therefore, the growth of the Chinese economy will attract foreign direct investments away from Singapore. For example, the growth of foreign direct investment in Singapore has generally decreased over the last two decades partly due to the growth of the Chinese economy. Furthermore, due to the same reason, firms in Singapore will increase investments in China. When these happen, the capital and financial account and hence the balance of payments of Singapore will deteriorate.
For part (a) questions, the conclusion can be a summary or a recommendation, which is more for aesthetic purpose. For full-length and part (b) questions, the conclusion should be an evaluation, which carries 5 out of the total 25 marks.
In the final analysis, the benefits of the growth of the Chinese economy to the Singapore economy are likely to outweigh the costs. Due to the large amount of high-skilled labour and hence comparative advantage in producing high value-added goods in Singapore, Singapore’s exports consist of mainly high value-added goods with low value-added goods accounting for a smaller proportion of total exports. Therefore, economic growth in China is likely to lead to a larger increase in exports of high value-added goods than the decrease in exports of low value-added goods in Singapore which will lead to an increase in aggregate demand resulting in an increase in national output and hence national income. This is particularly true in view of the fact that Singapore is continually moving up the value-added chain. Indeed, the exports of Singapore have been increasing over the last few decades when China has been experiencing rapid economic growth. Furthermore, Singapore is a small economy that is highly dependent on external demand with the domestic exports accounting for a large proportion of the aggregate demand. Therefore, the increase in exports is likely to lead to a substantial increase in aggregate demand resulting in a substantial increase in national output and hence national income. In addition, as Singapore imports a large amount of intermediate goods due to lack of factor endowments, the increase in imports of cheaper intermediate goods from China is also likely to be very beneficial to the Singapore economy as the cost of production in the economy is likely to fall substantially.
In the Singapore-Cambridge GCE ‘A’ Level Economics examination, you are given only 45 minutes to plan and write the answer to an essay question. As you need about 35 to 40 minutes to write the answer, you have only about 5 to 10 minutes to plan the answer.
When you are planning the answer to an essay question, you should not be too concerned with producing the ‘standard answer’ because it does not exist. What is required of you is to show evidence that you have understood the question and that you have the ability to apply relevant economic theories and concepts to answer the question in a coherent manner that demonstrates the five core thinking skills: knowledge, comprehension, application, analysis and synthesis, and evaluation. Knowledge and comprehension are often considered the lower-order thinking skills. Application, analysis and synthesis, and evaluation are often considered the higher-order thinking skills.
When you are writing the answer to an essay question, you are encouraged to use diagrams that are correctly labelled to illustrate understanding of the relevant economic concepts. However, you need to take note that diagrams that are incorrectly explained or incorrectly labelled may do more harm than good. In contrast, diagrams which are correctly explained and correctly labelled illustrate understanding of the relevant economic concepts and substantiate your explanations and therefore will be awarded accordingly.
You should not write everything that you know about a given content area. In other words, you should answer the essay question directly, with the help of the key words and the command words, taking into consideration the marks allocated. Indirect answers and irrelevant answers will gain no marks.
You should refer back to the essay question occasionally to stay focussed on what is required of you to do. This is to avoid writing off the point.
Legible handwriting is crucial to obtaining a good grade in the subject. Although you will not get bonus marks for legible handwriting, you will not get any marks with illegible handwriting.
Good grammar will enhance the quality of the answer.
Essay writing skills will be discussed in greater detail in economics tuition by the Principal Economics Tutor .
Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
Economics Essay Topics: 162 Practical Ideas & Useful Tips
Essay writing is an inherent part of the economics studying process. Nevertheless, it is quite a challenging task. Are you a high school or college student who is struggling with an economic essay topic choice? Or maybe you are unsure about your writing skills?
We know how to help you .
The following article will guide you in choosing the best topic for your essay on economics. Here, you can find a variety of ideas for high school or college. The economic essay topics are divided into several categories that will help you with your research. And a pleasant bonus from our team! We have created a great guide on how to write an economics essay.
So, don’t miss your chance to write an outstanding economic paper! Check out our essay ideas, read our tips carefully, and be ready to receive your grade A!
- ⭐ Best Economic Topics
- 🤝 Socio-Economic
- 🗺️ International Economics
- 🛠️ Labor Economics
- 🌆 Urban Economics
- ⚽ Sports Economics
- 💉 Health Economics
- 💼 Business Economics
- 🏤 Globalization
- 🧮 Economic History
- 💫 How to Write?
⭐ 15 Best Economic Essay Topics
- 2008 Economic Crisis.
- Socio-economic policy.
- Economic systems – Singapore.
- Racial pay gap.
- Economic globalization.
- History of online trading.
- Child labor policies.
- The Economic Naturalist.
- Foundations of economic theory.
- Impact of unemployment.
- Universal Basic Income.
- The role of consumerism.
- Healthcare economics – Canada’s Medicare.
- Reasons for recession.
- Cryptocurrency & environmental issues.
✨ Excellent Economic Essay Topics
Has economics always been a subject of meticulous research? The question is quite controversial, right? There is no specific time when economics started its rapid progress. Generally, economics remains the topic of interest since the establishment of capitalism in the Western world.
Nowadays, the economy is the main engine that moves our world forward. The way we do business determines the geopolitical situation in the world. Moreover, it influences many other parts of our lives.
Economics studying is of utmost importance nowadays. It helps to gain a better understanding of processes that put everything in motion.
Economics is quite broad, so it has a great variety of subfields. And this is a fantastic opportunity for us to generate as many essay ideas as possible. Here, you will find great economic topics for your paper. As mentioned before, we have divided them into several sections to ease your selection process. There’s a wide selection of free college essays samples on economics in our database, too. So be sure to check that out.
🤝 Socio-Economic Essay Topics
- The economic impact of racial segregation in America in the 1950s.
- Designing a just socio-economic system.
- Socio-economic status of Hong Kong in modern-day China. Explain how the city of Hong Kong gained a special status in China. Why did it emerge as one of the most important cities in its economy? Comment on the significance of Hong Kong in the international economic arena.
- Economic growth in the United States in the post-World War 2 period.
- Mobile banking in Saudi Arabia: towards understanding the factors that affect the sector.
- The importance of Dior’s bar suit to the women’s fashion industry.
- Economic problems in the 1980’s Soviet Union. Talk about the significant problems with the economy the USSR had in the 1980s. What role did they play in its collapse?
- What socio-economic problems did segregation in South Africa cause?
- History of economic development in the UAE. Discuss the economic miracle in the UAE and Dubai. Explain how the government could turn the city of Dubai into one of the most famous tourist destinations. What strategies were applied?
- Gender inequality and socio-economic development .
- The problem of poverty in Venezuela.
- How the socio-economic and political position of women changed between 1880 and 1940.
- The economic impact of COVID-19 on global trade.
- How do the three main economic groups interact with each other? There are three critical economic groups: – Consumers – Producers – Government Analyze the interaction of these groups with each other.
- Extended essay: how the study of economic data helped our society to advance?
- Western industrialization socio-economic impacts.
- Inequality at the top: not all billionaires have the same powers. Analyze billionaires’ net worth, liquidity, political power, and wealth security. Explain why they have unequal social status. What factors determine the influence of billionaires?
- An analysis of systems that help us measure agricultural development in a country.
- Is social media a useful tool for brand promotion?
- The phenomenon of dualism in economic development.
🗺️ International Economics Essay Topics
- Globalization and its impact on international economic relations. Define the term globalization. What role does globalization play in international economic relations? Provide specific examples of globalization’s impact on the global political economy.
- The lack of justice for the cheap international labor market. Discuss the issue of cheap labor in various countries. Why do some workers often lack fundamental human rights while others abuse moral norms? Analyze the causes and effects of inequality in the workplace.
- Japan macroeconomics: problems and possible solutions.
- The issue of mercantilism in the history of Great Britain. Analyze the rise and development of mercantilism in the history of Great Britain. To solidify your ideas, provide persuasive arguments, and appropriate examples of mercantilism.
- Why does the problem of environmental protection remain unresolved among global economies?
- Nissan Motor company’s international business.
- International environmental concerns in economics: the case of China .
- The issue of international criminal justice in industry. Explain why international businesses often avoid criminal justice after wrongdoings. Select one case of unethical behavior of a company’s CEO or regular employee. Briefly introduce the problem. What were the causes and effects? How was the issue resolved? Express your own opinion regarding the lack of criminal justice in business.
- The economy of Singapore and its role in international trade.
- International microeconomics trade dispute case study: US-China dispute on the exportation of raw materials.
- The phenomenon of the “gig economy” and its impact on the global economy.
- The effect of population growth in the international economy.
- International economics in the context of globalization.
- How does Brexit affect the economy of the European Union? Analyze the immediate impact of Brexit on the EU’s economy. Predict future advantages and disadvantages of Brexit for both: Great Britain and the EU.
- South Africa: international agribusiness, trade, and financing.
- Historical essay: the economy of the Dutch East India company.
- The issue of Mozambique’s economy and possible solutions. Investigate the issue of extreme poverty in Mozambique. What are some possible solutions to the problem of poverty? Base your suggestions on the country’s cultural, historical, and geographical aspects.
- Imbalances in the global economy. Discuss the imbalances between trading countries on the scale of the global economy. What solutions would you suggest to deal with this issue?
- How will global economies adapt to China’s growing power?
- Etihad Airways company managerial economics.
🛠️ Labor Economics Essay Topics
- Ford Motor company’s labor economics.
- Labor economics: child labor.
- The UPS firm perspective: the labor market.
- Gender inequality of wage rate in modern business. Research how and why gender inequality is still an issue in the modern world of economics. What are some ways to deal with the problem? Present your ideas accurately and effectively. Provide solid arguments and appropriate examples to prove your position.
- What are the best ways to increase labor productivity in business?
- Labor unions adverse effects on economics.
- The decrease of the labor force in modern industries. Talk about the rising rates of robotization in the majority of industries. How will it affect the traditional labor force? Comment on the problem of unemployment caused by labor automatization.
- Violations of labor rights of workers.
- Modern labor essay: how can an entrepreneur guarantee the minimum wage to their workers?
- How can labor geography help develop a special economic zone? Talk about labor geography and its effects on developing an exclusive economic zone. How does the geopolitical location of a particular country influence its level of economic development?
- Entrepreneurship in the organic cosmetics sphere.
- Gender-oriented labor trade unions. A case study. Discuss the gender-oriented trade unions and analyze their impact on our society.
- Child labor in the Turkish cotton industry.
- The connection between economic growth and demography. Analyze the connection between economic growth and its demographic context. Investigate both sides: – The issue of overpopulation – The problem of low birth rate. From an economic perspective, what problem is more dangerous?
- The issue of sex discrimination in the workplace.
- The effects of Landrum-Griffin Labor Act. Explore the labor Act of Landrum-Griffin that was passed in the US Congress in 1959. Discuss its implications and consequences. Discuss its implications and consequences.
🌆 Urban Economics Essay Topics
- Cities and their role in aggregate economics.
- Urbanization in Hong Kong and its effects on citizens.
- The urban planning of the city of New York: a critical analysis. Analyze the urban history of NY. How has the city been developing? Discuss revolutionary solutions to the past and problems of modern times.
- The impact of a city’s design on the local traffic.
- Dubai’s spatial planning: creative solutions for building a city in the desert.
- Globalization, urban political economy, and economic restructuring.
- How do urban areas affect local wildlife? Comment on how modern production technologies in urban areas impact the natural diversity of wildlife. What impact does the rapid economic progress have on the environment? Suggest possible solutions.
- Urban sociology: does the city make us better people?
- Why should people be more careful about investing in real estate? Discuss the issues of overinvestment into real estate. Consider the economic crisis of 2008 as an example.
- How can regional authorities help improve a city?
- Urban life and its effects on education.
- The economic development of a city’s metropolitan area: challenges and solutions.
- Main factors for the emergence of cities in the Middle Ages.
- The ethics of relocation: is it justified? Talk about the case of relocating locals when building projects of great magnitude. To what extent can it be justified? Mention its economic and ethical side.
- The difficulties behind the construction of “green” buildings. Discuss the relatively new phenomenon of environmentally friendly buildings. Analyze both sides: the pros and cons. What obstacles lie behind the “green” building? What opportunities do the “green” buildings offer? Elaborate on your ideas by providing clear arguments or counterarguments.
- What factors play a critical role in the success of retail productivity in cities?
⚽ Sports Economics Essay Topics
- Do teams with higher budgets perform better on the field?
- Corruption in European football leagues: a critical analysis. Investigate the corruption issue in the European football leagues. State reasons and solutions for the problem.
- The managerial catastrophe of Arsenal F.C.
- The NextG sports company’s communication planning.
- Roger D. Blair’s Sports Economics literary review. Write a literary analysis of Sports Economics by Roger D. Blair. Discuss his opinion on the economy of sports. Do you agree or disagree with his position? Provide compelling supportive arguments or strong counterarguments.
- How significant is the impact factor of a local team on a city’s economy?
- Kinsmen Sports Centre: marketing metrics innovation.
- What role does statistical data play in sports? Analyze the part of economic statistical data in different sports organizations. How can statistics help to develop an effective financing plan? Comment on the impact of financing on the performance of a sports club.
- Sports and energy drinks marketing analysis.
- Is there a connection between the lack of money and any contemporary issues in a sports team?
- Performance-enhancing drugs in sports.
- The business of FIFA: a financial analysis. Investigate the finances of FIFA. What economic factors make them so influential in the modern world of football?
- The global sports retail industry.
- The Olympics: logistics and economy. Discuss the logistics behind the Olympics Games event. How the Olympic Games impact the economy of the host country?
💉 Health Economics Essay Topics
- Is bioprinting the new future of medicine? Analyze the new market of organ printing and discuss its challenges. Investigate bioprinting from an economic perspective. Will the outputs cover the inputs? How will bioprinting impact the financial aspect of the health care sector?
- Cost-effectiveness of pharmaceutical products in the United States. Comment on the immense cost-effectiveness of pharmaceuticals. What do you think is the price of pharmaceutical products reasonable? Is it ethical to set extremely high prices on the medicals?
- An economic evaluation of the antibiotics market.
- Health economics-SIC and NAICS.
- The financial side of cancer treatment: is it too expensive? Analyze the market for cancer treatment programs in various countries. Explore its costs and complications. What are some possible ways to reduce the price of cancer treatment and make it more affordable?
- The issue of fast food consumption: a multibillion-dollar market . Fast food has always been one of the notable causes of obesity, diabetes, and other illnesses. Investigate the economic aspect of the issue. Are high profits from fast food production worth peoples’ health conditions?
- History and evolution of healthcare economics.
- The financial management of a hospital: a case study.
- The issue of public healthcare in the USA. Write about the long-standing issue of medical sector operation in the USA. Analyze its history, financial, and social aspects.
- Demand in healthcare economics.
- What are the economic outcomes of a global pandemic? Taking the COVID-19 outbreak as an example, conduct research on the effects of a pandemic on the economy. How does it affect local economies? What impact does the quarantine have on the international economy? Provide appropriate examples to support your ideas.
💼 Business Economics Essay Topics
- When does an advertising campaign become unnecessary?
- Sustainable development of a nation’s economic stability. Discuss how a country can create a sustainable economy. Provide bright examples to solidify your position.
- How can a small business compete with monopolies?
- What are the limitations of the Lewis Model?
- The phenomenon of inflation: inevitable liability or a land of opportunity for our economies? Explore the process of inflation in modern economies. Does it only have adverse effects on the countries’ economies? Are there any advantages of inflation? Analyze it from a positive perspective.
- Economics, business, and sugar in the UK.
- The shadow economy of the finance sector. Dive into the backstage of the finance sector and research various “grey” areas where business can be done.
- Chinese and Japanese business systems comparison.
- Oil demand and its changes in the XXI century: a critical analysis. Analyze the oil sector and write about its fluctuation in the XXI century. How did the changes in oil demand affect the global economy?
- The social and economic impact of mass emigration.
🌠 40 More Good Economic Essay Topics
Scrolled through our ideas, but can’t find a suitable topic for yourself? No worries! We have more issues to share with you.
So, don’t stress out. Take a look at our list of economical essay topics. Here are 40 more ideas focusing on globalization and the history of economics.
🏤 Economic Globalization Essay Topics
- The impact of globalization on the tourist industry in the Caribbean . Analyze both: the positive and negative effects of globalization on the Caribbean. To make your paper well-structured, explore two advantages and two disadvantages. Don’t forget to improve your essay with strong evidence and appropriate examples!
- Toyota Motor Corporation: impacts of globalization.
- What are the effects of globalization on developing countries? To what extent do developing countries profit from globalization? Research the subject by comparing various examples.
- Defining globalization and its effects on current trade.
- Economic growth as a result of globalization: proper financial strategies. How can a country successfully achieve prosperity with globalization? Discuss proper economic strategies.
- The socio-political significance of the IT industry’s globalization.
- Human trafficking in developing nations as a result of globalization.
- Globalization and criminal justice policy.
- What are the advantages and disadvantages of globalization?
- Globalization challenges and countermeasures.
- The effect of globalization on worldwide trade and employment rates.
- Economic integration within the European Union: a critical analysis. Talk about the history of economic integration within the EU. What are the negative and positive outcomes of economic integration?
- Globalization and food in Japan.
- Does globalization bring negative effects to cultural heritage and identity?
- The Industrial Revolution as the first step towards globalization. Focus on the Industrial Revolution in Europe. Discuss its precursors and consequences. Why is the revolution considered to be a starting point of globalization? Provide specific examples of globalization processes that occurred in the economic sector after the Industrial revolution.
- Globalization 2.0 an analysis of a book by David Rieff.
- Globalization effects on fundamentalism growth.
- Does direct investment by foreign businesses come with strings attached? Dive into the shady area of globalization and discuss how to direct foreign investment can bring problems of geopolitical scale.
- Effects of globalization on sexuality.
- Alibaba’s globalization strategy: an economic analysis.
🧮 Economic History Essay Topics
- The rapid economic growth of Europe during the Age of Discovery. Analyze the factors that brought economic growth to Europe during the Age of Discovery. What factors contributed to the dynamic economic progress of that time?
- Brazil’s economic history.
- History of capitalism: from the Renaissance to the United States of America. Discuss the origins of capitalism and its centuries-long path towards XXth century America. How the establishment of capitalism impacted the economy of the USA?
- Max Weber: economic history, the theory of bureaucracy, and politics as a vocation.
- 2008 Economic Crisis: origins and fallout. Talk about the 2008 Financial Crisis. Discuss its causes and outcomes. What should have been done differently to avoid the global crisis? Comment on the economic strategies countries used to recover from it.
- The economic marvel of Communist China: from rags to riches.
- What made world economic growth of the Renaissance possible?
- The economic history of Canada: how did the settlers facilitate economic growth?
- What did the major powers of the XIXth century base their economies on?
- The Rothschilds: political and financial role in the Industrial Revolution. Research the dynasty of Rothschilds and how they came to power. What was their role in Europe’s Industrial Revolution?
- The link between the “oil curse” and the economic history of Latin America.
- Roman Empire’s monetary policy: a socio-economic analysis.
- How did the demand for different goods change their value in the 2000s years? Analyze the demand for goods in the 2000s years and their change in value. Why do these fluctuations in demand for products and services occur?
- The history of economic thought.
- Soviet Union’s economic timeline: from the new Economic Policy to Reformation. Discuss the economic issues of the Soviet Union from the historical perspective. Why did the Soviet Union collapse? What improvements in the financial sector should have been done?
- History of France economics over the past 20 years.
- The history of economic analysis.
- The concept of serfdom and slavery as the main economic engine of the past. Dive into the idea of feudalism and serfdom. Discuss its social and economic aspects.
- The World Bank’s structure, history, activities.
- The history of Islamic banking: concepts and ideas.
💫 How to Write an Economics Essay?
Generally, essay writing on economics has the same structure as any other essay. However, there are some distinctive features of economic papers. Thus, it is essential to figure them out from the very beginning of your work.
You might be wondering what those aspects of the economic paper are. Well, we have an answer.
Below, you will find a detailed plan that explains the fundamental concepts of the essay writing process. So, don’t hesitate to use our tips! They are indeed helpful.
Pick a topic and dissect it. Picking the right topic is the very basis of writing a successful essay. Think of something that you will be interested in and make sure you understand the issue clearly. Also, don’t forget to check our ultimate economics essay topics and samples list!
Research it. After selecting the right idea from our economical essay topics, research your subject thoroughly. Try to find every fascinating and intriguing detail about it. Remember that you can always ask your fellow students, friends, or a teacher for help.
Come up with a thesis statement. A thesis statement is an essential element of your essay. It will determine your focus and guide the readers throughout your paper. Make your thesis secure and try to catch the reader’s attention using context and word choice.
Outline your essay. Never underestimate the power of a well-structured outline! Creating an essay outline can significantly help you to determine your general plan. Evaluate which economic framework you will be using to address the issue. State the main points of your thesis and antithesis. Make sure that they answer the central question of your work.
Write your introduction. First and foremost, a practical introduction should capture the readers’ attention and state the essay’s key topic. So, put enough effort to develop an outstanding introduction. It will create the first impression of your paper.
Moreover, an introduction should include a thesis statement. As we have mentioned above, a thesis plays a crucial role. Thus, make sure it is clearly stated.
Another significant feature of the introduction is its coherence with the body of your essay. Consequently, the introductory paragraph’s last statement has to present the subject of the next section, generically. Also, keep in mind that no more than three key points can be discussed in a paper, even if it is an extended essay.
Thoroughly work on the body paragraphs. Usually, the body of the essay contains several paragraphs. The number of these paragraphs will depend on the nature of your question. Be sure to create one section for every critical point that you make. This will make your paper properly-structured, and the reader will quickly get your ideas. For your convenience, we created a plan to develop your ideas in each paragraph, So, use it and make your writing process easier!
- Argument. Present your argument in the topic sentence of the paragraph in a way that directly answers the question. A hint: the most effective way to introduce the critical point is to place the topic sentence at the beginning of the paragraph. This will help the readers to concentrate their attention on a specific idea.
- Comment and discussion. Explain the meaning of your argument and provide an economic analysis. Present clear evidence and persuasive arguments to solidify your position.
- Connection. Link your comments with the vital point of the paragraph. Demonstrate the coherence of your evidence with the point.
- Diagrams, tables, charts. If necessary, provide the reader with visual aids. Sometimes, an appropriate diagram or a suitable chart can say more than words. Besides, your paper will look more professional if you use any kind of visual aids.
Conclude your essay. In your conclusion, summarize and synthesize your work by restating your thesis. Also, it is crucial to strengthen it by mentioning the practical value of your findings. Remember to make your essay readable by choosing appropriate wording and avoiding too complex grammar constructions.
Thank you for visiting our page! Did you enjoy our article and learned something new? We are glad to help you. Don’t forget to leave a comment and share the article with others!
🔗 References
- High School Economics Topics: Econlib, The Library of Economics and Liberty
- Guide to Writing an Economics Essay: The Economics Tutor
- How to Write the Introduction of Your Development Economics Paper: David Evans, Center For Global Development
- Senior Essay: Department of Economics, Yale University
- Developing A Thesis: Maxine Rodburg and The Tutors of the Writing Center at Harvard University
- Academic Essay Writing, Some Guidelines: Department of Economics, Carleton University
- The Writing Process: Writing Centre Resource Guide, LibGuides at Dalhousie University
- Research Papers: KU Writing Center, the University of Kansas
- Unpacking the Topic: University of Southern Queensland
- Economic Issues: PIIE, Peterson Institute for International Economics
- Areas of Research: EPI, Economic Policy Institute
- Top 100 Economics Blogs Of 2023: Prateek Agarwal, Intelligent Economist
- Current Environmental Economic Topics, Environmental Economics: US EPA, United States Environmental Protection Agency
- Hot Topics in the U.S. Economy: The Balance
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Tips and advice for evaluation in essays
Evaluation is an important component of an advanced essay. It requires the ability to look at facts, arguments and analysis, with a degree of critical distance. Evaluation involves:
- Looking at what other factors may affect the outcome.
- Time lags involved.
- How it might depend on other issues, e.g. elasticity of demand
- Why the original statement may be incorrect.
- How significant is a factor?
Which questions need evaluation?
Questions which require evaluation usually have these words a the start:
- To what extent
Examples of Evaluation
1. How reliable is the data?
For any essay, you will be using a variety of sources. For example, an essay on trades unions may include information from the TUC. It is good to give data from a source like TUC. However, a valid evaluation technique is to question the reliability and independence of your source.
For example, it is quite likely that the TUC will choose statistics that are more advantageous to workers. Business organisations, e.g. CBI on the other hand, are likely to give alternative sets of data which is more favourable to their point of view.
Therefore, examine the likelihood of bias in data and resources for the essay.
2. Short run and long run?
The effects of a decision can be quite different in the long run. For example, suppose you had an essay, which examined the impact of an increase in tax on petrol. The obvious answer is to say: “very little, demand for petrol is inelastic”
However, it would be evaluative to say; “However, over time demand may become more elastic. After a couple of years people may find alternative ways of driving.
3. It depends on other factors
When looking at the effect of one outcome, it is worth bearing in mind it is often difficult to isolate other factors. For example, if we were looking at the impact of a rise in interest rates. The effect would usually reduce consumer spending. However, there are many other factors that can affect consumer spending. If confidence was high, for example, consumer spending may not fall at all – despite the increase in interest rates.
4. Look at both points of view
In subjects like economics, history and politics there are usually several different viewpoints. It is important to give them all consideration, even if we don’t necessarily agree with them. For example, if we look at the impact of a rise in government spending, a Keynesian might say this will increase growth; a Monetarist, on the other hand, may argue higher spending merely causes crowding out. Therefore, there are two different possibilities.
5. State of economy
The impact of a devaluation in the currency depends on the state of the economy. If the economy is experiencing inflation and is in a boom, a devaluation could worsen the inflation. However, in a recession, a devaluation can help boost exports and there is likely to be limited impact on inflation.
The effect of a fall in AD depends on state of economy
6. How significant is a factor?
A recession in France would lead to lower UK exports to France. France is an important trading partner, however on its own French exports are only a relatively small % of UK AD. If the rest of the Eurozone was growing, and it was just France in recession, it is unlikely to have much impact on the UK economy. However, if the whole global economy was in recession, this would be much more significant and likely cause a recession in the UK too.
7. Different perspectives
As we mentioned in, UK economic growth in the past four years. How you interpret data is important.
If you showed a graph of UK economy growth since 2013 Q1 – it would give quite a favourable impression of economy.
Including figures from 2011 Q1 gives less favourable.
If we look at this graph, it shows the UK economy still has a large negative output gap.
The important thing is that statistics may only tell part of the story. Just because an economy like Spain grew in the last quarter – doesn’t necessarily mean their economy is doing very well.
More on macroeconomic evaluation – discuss the impact of a cut in interest rates
Example question
Discuss impact of the MPC cutting interest rates from 5% to 4.5%?
Lower interest rates make it cheaper to borrow and therefore encourage consumer spending. Cheaper borrowing also encourages firms to invest. With an increase in C + I, we see a rise in Aggregate Demand and therefore we can expect higher economic growth and higher inflation.
Examples of Evaluation of this question
- In theory, lower interest rates will increase spending. However, commercial banks may not pass the base rate cut onto consumers. This happened during the credit crisis because there was a shortage of cash. Therefore, banks were reluctant to lend – they needed to improve their balance sheets. Therefore, even though the MPC cut base rates in 2008-09, consumers may not notice lower interest rates and therefore, there was little if any increase in consumer spending. This explains why the interest rate cut of 2009, failed to cause a strong economic recovery.
- Lower interest rates may not increase economic growth because other aspects of the economy are doing badly. For example, falling house prices are causing a decline in consumer wealth and confidence. Therefore, despite lower interest rates, falls in house prices are offsetting the potential boost to spending from lower rates. Also, in 2009-11, we experienced a global recession. The recession in the Eurozone caused lower exports and therefore the cut in rates could be insufficient given the fact other aspects of AD are being reduced.
- The cut is only very small. 0.25% is probably insufficient to have much effect especially given problems already mentioned. However, you could argue the UK is sensitive to interest rates because of the number of variable mortgages. Even a 0.25% cut in rates can increase disposable income for people with large mortgages. (this is what you might call double evaluation, evaluation of the evaluation)
- The cut will take time. A cut in interest rates will not boost spending immediately. For example, It will not affect people on a fixed-rate mortgage for about 2 years. Therefore, after a cut in interest rate, we may not see the boost to spending for up to 18 months; this makes monetary policy much more difficult.
Further resources for Economic Essays
- Exam tips for economics
- Model economics essays
Related posts
- Microeconomic evaluation
- Tips for writing economic essays
The Young Economist’s Short Guide to Writing Economic Research
Attributes of writing economics.
- The discourse is often mathematical, with lots of formulas, lemmas, and proofs.
- Writing styles vary widely. Some authors are very dry and technical while a few are quite eloquent.
Economics writing is different from many other types of writing. It is essentially technical, and the primary goal is to achieve clarity. A clear presentation will allow the strength of your underlying analysis and the quality of your research to shine through.
Unlike prose writing in other disciplines, economics research takes time. Successful papers are not cranked out the night before a due date.
General Guidelines for Quality Research
Getting started.
The hardest part of any writing assignment is starting. Economics research usually begins with a strong understanding of literature, and papers require a section that summarizes and applies previous literature to what the paper at hand. This is the best way to start.
Your writing will demonstrate that you understand the findings that relate to the topic.
Economists use the first few paragraphs to set up research questions and the model and data they use to think about it. Sure, it can be dry, but this format ensures the write and reader have strong grasp on the subject and structure of the work that follows.
Clear and Concise Work
Clarity is hard to achieve, but revising and reworking a paper ensures it is easy to read
- Organize your ideas into an argument with the help of an outline.
- Define the important terms you will use
- State your hypothesis and proceed deductively to reach your conclusions
- Avoid excess verbiage
- Edit yourself, remove what is not needed, and keep revising until you get down to a simple, efficient way of communicating
- Use the active voice
- Put statements in positive form
- Omit needless words (concise writing is clear writing)
- In summaries, generally stick to one tense
Time Management
Poor time management can wreck the best-planned papers. Deadlines are key to successful research papers.
- Start the project by finding your topic
- Begin your research
- Start and outline
- Write a draft
- Revise and polish
The Language of Economic Analysis
Economic theory has become very mathematical. Most PhD students are mathematicians, not simply economics majors. This means most quality economic research requires a strong use of mathematical language. Economic analysis is characterized by the use of models, simplified representations of how economic phenomena work. A model’s predictions about the future or the past are essentially empirical hypotheses. Since economics is not easily tested in controlled experiments, research requires data from the real world (census reports, balance sheets), and statistical methods (regressions and econometrics) to test the predictive power of models and hypotheses based on those models.
The Writing Process
Finding a topic.
There are a million ways to find a topic. It may be that you are writing for a specific subfield of economics, so topics are limited and thus easier to pick. However, must research starts organically, from passive reading or striking news articles. Make sure to find something that interests you. Be sure to find a niche and make a contribution to the subfield.
You will also need a project that can be done within the parameters of the assignment (length, due date, access to research materials). A profoundly interesting topic may not be manageable given the time and other constraints you face. The key is to just be practical.
Be sure to start your research as soon as possible. Your topic will evolve along the way, and the question you begin with may become less interesting as new information draws you in other directions. It is perfectly fine to shape your topic based on available data, but don’t get caught up in endlessly revising topics.
Finding and Using Sources
There are two types of economic sources: empirical data (information that is or can be easily translated into numerical form), and academic literature (books and articles that help you organize your ideas).
Economic data is compiled into a number of useful secondary sources:
- Economic Report of the President
- Statistical Abstract of the United States
- National Longitudinal Survey
- Census data
- Academic journals
The Outline
A good outline acts as an agenda for the things you want to accomplish:
- Introduction: Pose an interesting question or problem
- Literature Review: Survey the literature on your topic
- Methods/Data: Formulate your hypothesis and describe your data
- Results: Present your results with the help of graphs and charts
- Discussion: Critique your method and/or discuss any policy implications
- Conclusions: Summarize what you have done; pose questions for further research
Writing a Literature Review
The literature review demonstrates your familiarity with scholarly work on your topic and lays the foundations for your paper. The particular issues you intent to raise, the terms you will employ, and the approach you will take should be defined with reference to previous scholarly works.
Presenting a Hypothesis
Formulate a question, problem or conjecture, and describe the approach you will take to answer, solve, or test it. In presenting your hypothesis, you need to discuss the data set you are using and the type of regression you will run. You should say where you found the data, and use a table, graph, or simple statistics to summarize them. In term papers, it may not be possible to reach conclusive results. Don’t be afraid to state this clearly and accurately. It is okay to have an inconclusive paper, but it is not okay to make overly broad and unsupported statements.
Presenting Results
There are essentially two decisions to make: (1) How many empirical results should be presented, and (2) How should these results be described in the text?
- Focus only on what is important and be as clear as possible. Both smart and dumb readers will appreciate you pointing things out directly and clearly.
- Less is usually more: Reporting a small group of relevant results is better than covering every possible statistical analysis that could be made on the data.
- Clearly and precisely describe your tables, graphs, and figures in the text of your results section. The first and last sentence in a paragraph describing a result should be “big picture” statements, describing how the results in the table, graph or figure fit into the overall theme of the paper.
Discussing Results
The key to discussing results is to stay clear of making value judgments, and rely instead on economic facts and analyses. It is not the job of an economist to draw policy conclusions, even if the research supports strong evidence in a particular direction.
Referencing Sources
As with any research paper, source referencing depends on the will of a professor a discourse community. However, economists generally use soft references in the literature review section and then cite sources in conventional formats at the end of papers.
This guide was made possible by the excellent work of Robert Neugeboren and Mireille Jacobson of Harvard University and Paul Dudenhefer of Duke University.
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How to Write an Economics Essay
Overview on how to write an economics essay .
Economics essays are a requisite in the examination of individuals pursuing economics or other related fields. They are used as an avenue for scholars to demonstrate their understanding of key concepts, theories, and relevant bodies of knowledge and their application in real life scenarios.
Due to the nature of economics as a discipline, economics essays are some on the most engaging essays. They are quite technical in approach and have to consider a multitude of factors in the development of their arguments.
This is a critical consideration when it comes to how to write an essay . Such essays have to focus on some areas that determine their quality. Some of these areas include:
a) Understanding the Economics Essay Requirements
Usually, economics essays seek to evaluate the relationships between different economic variables. Such questions demands that you correctly determine the number of relationships that need to explored. A typical economics question could be as illustrated below.
Q. Explore the impacts of an increase in commodity prices coupled with a decline in individual incomes on the market demand.
The above question is good example of the type of relationships economics essays seek to examine. Per se, this question requires you to examine two sets of relationships.
a) The relationship between increase in commodity prices and demand.
b) The relationship between decline in individual incomes and demand.
Answering the above essay questions requires you to first consider the two sets of questions separately. Keeping in mind that you need to address both of these questions is critical in ensuring that you remain on course in your answer.
Then you are supposed to go ahead and combine the two questions in one essay answer, ensuring that each set of question is addressed equally and adequately. It is important to ensure that all the sentences and paragraphs written answer specific question(s).
Content that does not answer the question(s) should be avoided.
b) Evaluation in Answering the Economics Essay Question
This is the most important part of an economics essay. It is essential to understand that shifts in and interactions between different economics variables is likely to result into a multitude of economic situations. To begin with, economics essays could require you to conduct either a macro evaluation or a micro evaluation.
In economics, both types of analyses are likely to yield different and numerous situations.
In the above question for instance, evaluation of the first set of question (The relationship between increase in commodity prices and demand should explore how increase in product prices influences the consumer’s purchase power).
In this case, it will be important to note that some commodities do not obey the normal demand and supply curves (Giffen goods). Precious commodities like gold, diamonds, and art are likely to experience an increase in demand with increase in prices.
Demand Curve for Normal Goods
Figure 1 . Demand Curve for Normal Goods (As price of a good increases, its demand declines).
Demand Curve for Giffen Goods
Figure 2 . Demand Curve for Giffen Goods (As the price of the good increases, its demand increases as well).
As illustrated above, an answer arguing that increase in the price of commodities results into a decline in demand could be correct. As well, an opposite argument could be correct. It is therefore important to consider both scenarios when answering the economics essay question.
Steps on how to Write an Economics Essay
The various steps entailed in writing an economics essay include:
a) Identifying the essay requirements : this step entails going through the economics essay question to clearly identify the expectations of the essay. As noted above, this step usually seeks to identify the specific areas in the essay question that require addressing.
b) Conducting research on the essay topic: in this step, you should conduct a thorough research on the essay topic using resources such as text books, journals, and online sources. The research should be within the essay question’s scope and should cover all the relevant concepts, theories, and bodies of knowledge.
You should establish new knowledge related to the topic and evaluate its suitability on whether it is appropriate content for the economics essay.
c) Developing a thesis statement : this is a critical step in the economics essay writing process. It provides the bearing for the essay. The thesis statement should reflect the essay question in a brief and concise manner.
Usually one or two sentences in length, it should be the rallying point for all the arguments being advanced in the essay.
d) Coming up with a rough draft : this step involves compiling information from selected research resources to generate logical arguments. Generally, you should explore for common themes from the relevant resources and combine such information to develop numerous points supporting essay argument(s).
This entails putting all the evidence available together to support the essay. The evidence should be backed by proper referencing. Data, statistics, and examples should be incorporated to make arguments more credible.
e) Writing the introduction: with the relevant essay points developed, it is time to create the introduction. This step involves giving a brief overview of the essay’s argument(s) and the scope of the answers.
The introduction should start with a bold statement to capture the reader’s interest and end with the thesis statement.
f) Compiling the essay points: this step requires you to organize your points to form the coherent argument(s) supporting the essay thesis. The points should be compiled starting with the strongest. In this step, you should pay close attention to the correct essay structure, especially within the paragraphs.
g) Writing the conclusion : this step requires you to summarize all the major points in the essay. It should end the essay by recapturing the thesis statement.
h) Proofreading: this is the last step and should involve going through the essay to ensure that the essay question is answered correctly, there are no grammatical mistakes, and the essay is coherent.
How to Write a Band 6 HSC Economics Essay
Writing a Band 6 HSC Economics essay can be difficult because the essay questions can vary from addressing a specific section of the syllabus to having a broad focus and therefore requiring synthesis of entire topics.
Furthermore, there are two HSC Economics essays in the HSC exam, which make up 40 marks of the whole exam!
Section III – is a stimulus based economic essay response where you MUST make reference to the stimulus provided and integrate it into your response. Section IV – a free response economic essay.
This article aims to therefore streamline the writing process and provide a sustained, logical and cohesive approach that is backed by findings from experienced HSC Economics markers: the ones who mark hundreds of essays year in year out.
Ready to learn how to ace your HSC Economics Essay? Let’s jump in!
Here is the example question we’re going to use throughout this article to demonstrate what to do to get that Band 6 in your HSC Economics Essay ( Question 27 of the 2016 HSC ).
Editor’s Note: Although this post was made in 2018, any sample responses will be written as if they were written in 2016, reflecting the current state of the economy at the time.
Step 1: Plan Your Response Step 2: Finish Your Introduction Strong Step 3: The Writing Process Step 4: Practise Writing HSC Economics Essay Plans
Step 1: Plan Your Response
Use the first page of your writing booklet to sketch a plan of your response.
In fact, this was often what I would do first upon beginning an Economics exam. I’d develop a plan for my essays and then go back to the Multiple Choice section.
This achieved two things:
It warmed up my mind so that I was ready to engage with Section I and Section II More importantly, this ensured I would not forget my essay plans throughout the exam and I could readily return to my plan to jog my thought process.
This is critical because the Economics essay emphasises a logical progression of ideas.
Therefore, in many ways, an essay plan allows you to visualise your thought process and reduce the chance of you forgetting your train of thought or worse, going on a tangent and including irrelevant details.
This helps keep your response sustained, which is a key component of the A range marking criteria. Your essay must continually drive towards developing your thesis – the actual answer to the essay question itself.
In saying so, before we plan, we must understand the NESA directive verbs. This will determine the level of depth and the approach the markers are looking for.
If you’re unsure about your directive verbs, check out NESA’s glossary of key directive verbs !
How to Plan for an HSC Economics Essay:
The most important thing about any essay is the answer to the question itself with your thesis. All points, arguments and statistics are simply used to support it.
As a result, begin the plan by writing a direct answer to the question. In your thesis you want to:
Provide context for the question – include definitions of key terms such as monetary policy or economic objectives. Then use qualifiers or intensifiers (to some extent, significantly, is ineffective) to answer the essay question.
For our example, the thesis would look like:
Expansionary monetary policy conducted by the Reserve Bank of Australia (RBA) involves deliberate actions to theoretically increase the supply of funds and reduce the cash rate, the cost of borrowing, in an effort to achieve economic objectives. However in practice, the RBA’s aggressively expansionary monetary policy, exemplified by its low 1.50% cash rate, has only had a limited impact on the economy.
Next, organise your ideas into dot points which you can will write your paragraphs on.
Also note down any sub points or arguments you think of underneath. This can include theory, links to the stimulus if this is a Section III essay, relevant statistics or graphs.
As this is the planning stage, it isn’t essential to get it all down perfectly, even just a word or key term to retain your train of thought is fine.
Below is an IDEAL plan using our example question. I have used more words than I normally would to help you read along (in reality, one word dot points are fine, as long as you can understand what you’ve written).
If there are natural links and connections between paragraphs this can also be useful in transitioning in between different paragraphs to maintain the cohesiveness of the essay, i.e. making it flow better.
Still feeling overwhelmed with writing your HSC Economics Essay for your upcoming Economics assessment? Get additional help writing your HSC Economics essays with our HSC Economics Tutoring Sydney .
Step 2: Finish Your Introduction Strong
Now you have already written a strong thesis and have provided context for the essay.
All that is left is to connect your paragraph points to answering the thesis. This is in lieu of simply stating which objectives you will be looking at, which is not as effective and thesis-driven. Compare the pair:
Rather than saying:
Economic growth, inflation, unemployment and external stability are economic objectives which monetary policy have failed to address.
The transmission mechanism’s failure to boost consumption and business investment has lead to poor economic growth, and combined with below target inflation, unemployment that exceeds the NAIRU (non-accelerating inflation rate of unemployment), and an increasing current account deficit (CAD) driven by a widening trade deficit, monetary policy has failed to achieve a positive impact on the Australian economy and its objectives.
It is much more impressive to the marker if you are able to show a direct link between your points and the thesis you are addressing, as it shows a logical approach.
Are you taking Business Studies too? Master the HSC Business Studies report with our guide !
Step 3: The Writing Process
The other general criteria in HSC Economics essays is the related to the way you write and use language , including economic terms, concepts, relationships and theories.
This of course means you must know your content well and be able to connect different parts of the syllabus together and understand their relationships.
Once you have mastered your content, the criteria then asks for a ‘sustained, logical and cohesive’ response. In order to achieve this, it is best to use a clear structure (which we have planned for in Step 1) as it forces you to retain a logical and cohesive structure.
Here’s how to do it:
Use DPEEL (writing structure)
To provide a basic structure, follow DPEEL which will ensure you are using economic terms, concepts, relationships and theories consistently in your essay.
Definition – assume the marker is a layperson (has limited knowledge of the course) and ensure you are defining the economic term or concept to reflect your understanding. Can be integrated into the response and does not need its own sentence. Point – Attack the question and pinpoint what your overall answer will be, akin to a mini thesis. Explain – Provide further details that elaborate on your point. Depending on which directive verb you are asked, this is also where you can start to show relationships (analyse), provide additional economic theories that demonstrate a cause and effect (explain) or make a judgement (assess). Evidence – Integrate elements from the stimulus if it is a Section III Economics essay. Further, it reflects more in depth synthesis if you refer to specific statistics or quotes from the stimulus rather than simply stating a vague, ‘as seen in Source 1.’ If it is a Section IV Economics essay, this is where relevant statistics, graphs or economic theory will further elaborate and support your argument. However make sure you also explain graphs and their effects, rather than simply referring to them as ‘Figure 1,’ as failure to do so severely limits their effectiveness. Link – Conclude your paragraph by linking your points back to your original thesis.
Use transition signals
The ‘sustained’ element of the marking criteria means the markers want the essay to flow uninterrupted . No additional details or sidetracks.
The best way to achieve this is through the use of transition signals.
Transition signals include words such as furthermore, hence, as a result, this leads to, but, however. These are ‘linking’ words which along with the DPEEL structure FORCE you to stay on track and sustain your attack on the thesis, as each sentence must relate to the previous. Hence this makes it extremely difficult for you to stray off topic, allowing you to create a sustained response!
Prepare a table of key statistics and economic developments
Just like with English, Economics is also a subject with high demands on memory. Not only must you remember course content, you must also remember relevant statistics and graphs. An efficient way to facilitate this process is a simple table that allows you to organise your information. For example:
This will increase your mind’s ability to chunk the information without feeling overwhelmed.
Write a Strong Conclusion
HSC Economics essay conclusions are quite straightforward.
They need to:
Reaffirm your position and perspectives by restating your thesis — your answer to the question. Tie up your points and summarise how those ideas have supported your thesis. Provide a final statement that ‘ zooms out ‘ and provides a broad perspective of the question. This could be through providing an insight into future trends, expectations or areas for discussion.
Make sure you don’t overdo the conclusion. Three to four sentences is more than enough and the last thing a marker wants to see is a conclusion that has overstayed its welcome!
Step 4: Practise Writing HSC Economics Essay Plans
The final and most important tip is to practise this approach using different styles and topics of essay questions. It is also important that you plan the essays as you would in an exam to give you practice for planning for unseen questions.
We’ve done the hard work for you and you can find a collection of HSC Economics Essay Questions !
Apply these steps to build your consistency in writing logically and systematically.
That is the only way you will improve and better appreciate the amazingly pragmatic text type that is the HSC Economics essay. If you need more essay questions you can use past HSC exams, your textbook, or ask your teacher.
HSC Economics Tutoring Sydney can help you write strong Economics Essays, and make sure you get valuable feedback!
On the hunt for more HSC Economics resources?
Check out some of our other articles and guides below:
- HSC Economics Past Papers Master List
How to Write Effective HSC Economics Study Notes
The ultimate guide to getting a band 6 in hsc economics, are you looking for some extra help with your hsc economics essay writing, we pride ourselves on our inspirational hsc economics coaches and mentors.
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Economics Essay Topics You’ll Actually Want to Write About
It’s the night before your economics essay is due, and your mind’s swirling with terms like “supply and demand” and “inflation rates,” but no clear topic stands out. We've all been there. Writing about economics can feel like you’re drowning in charts, graphs, and theories without a life vest. But it doesn't have to be this hard.
This article will lay out a variety of economics essay topics across different categories — everything from microeconomics to international trade. We’re here to help you find the perfect angle for your next essay, saving you time and stress.
And if by the end of this, you’re still feeling stuck, EssayService has got your back. We can help you deal with any essay, no matter the topic, and make sure you’re putting out your best work.
Economics Essay Topics For Students
Crafting an economics essay can feel like a big task, especially when choosing the right topic. The good news is that there’s no shortage of interesting ideas, though! In this section, you'll find a variety of economics essay topics that are relevant, manageable, and perfect for students, covering everything from personal finance to global economic development issues.
Economics Essay Topics For High School Students
- How Social Media Shapes Teen Buying Habits – Examine how platforms like Instagram and TikTok are reshaping teen consumer behavior.
- The Business of Fast Fashion – Look into the rise of cheap, trendy clothes and how it ties into government regulations and nation’s economic stability.
- Minimum Wage and Teen Jobs – Discuss how increasing the minimum wage could shift job availability for high school students.
- Inflation and Everyday Costs – Break down how the rising cost of goods affects things like groceries, gas, and clothes that people buy daily.
- Funding for School Lunch Programs – Investigate how money allocated to school meals helps both students and the local community.
- The Power of Advertising in Teen Choices – Analyze how commercials and online ads push teenagers to buy specific products.
- The Rise of Gig Jobs Among Teens – Look at why more high school students are taking up side jobs like food delivery or freelancing.
- The Short Supply of Popular Video Game Consoles – Discuss how the scarcity of consoles like the PS5 pushes prices higher.
- Recessions and College Plans – Consider how economic downturns make some teens rethink whether to go to college or delay it.
- Competition Between Streaming Services – Compare Netflix, Hulu, and Disney+ and how their rivalry changes subscription prices and content variety.
Economics Essay Topics for College Students
- The Economics of Student Loan Debt in 2024 – Analyze how rising student debt affects recent graduates and the overall economy.
- Cryptocurrency in Global Markets – Study how Bitcoin and other digital currencies are being used in international trade and financial markets.
- The Shift to Remote Work and Its Economic Implications – Discuss how the growth of remote work changes job markets, housing prices, and business structures.
- Universal Basic Income: Pros and Cons – Investigate whether providing a basic income to all citizens could help reduce poverty and inequality.
- The Role of Government in Managing Climate Change Costs – Look into how governments worldwide fund climate initiatives and the economic challenges involved.
- The Economics of Healthcare in a Post-Pandemic World – Analyze how the COVID-19 pandemic reshaped healthcare spending and policy.
- The Growing Influence of Automation on the Job Market – Discuss how automation and AI technology are replacing certain jobs and what this means for the future.
- How Trade Tariffs Affect Global Supply Chains – Study how tariffs imposed by governments on imports and exports are changing global trade and production.
- The Housing Market Crisis: Causes and Solutions – Examine the reasons behind rising housing costs and potential strategies for making homes more affordable.
- The Impact of Globalization on Small Businesses – Investigate how small businesses are adapting to compete in an increasingly global market.
Economics Essay Topics for University Students
- The Economic Consequences of Brexit – Examine how the UK’s exit from the European Union is reshaping trade, labor markets, and investment in Europe.
- The Role of Central Banks in Stabilizing Economies – Analyze how institutions like the Federal Reserve manage inflation and interest rates to maintain economic stability.
- The Economics of Renewable Energy Transition – Investigate the financial challenges and opportunities involved in shifting from fossil fuels to renewable energy sources.
- The Global Supply Chain Crisis and Its Long-Term Effects – Discuss how recent disruptions in global supply chains are influencing international trade and manufacturing.
- The Economics of Population Aging – Explore how aging populations in countries like Japan and Italy are affecting healthcare costs, pension systems, and workforce dynamics.
- The Impact of Cryptocurrency Regulations on Financial Markets – Analyze how recent regulatory changes are shaping the future of digital currencies like Bitcoin and Ethereum.
- The Role of Behavioral Economics in Policy Making – Study how insights from behavioral economics are being used to design more effective public policies.
- Income Inequality in Developed vs. Developing Countries – Compare the drivers of income inequality in wealthy nations versus those in developing economies.
- The Economic Implications of Climate Change on Agriculture – Look into how shifts in climate patterns are affecting agricultural productivity and food security worldwide.
- The Gig Economy and Its Effect on Traditional Employment Models – Investigate how platforms like Uber and Airbnb are changing the landscape of employment and income generation.
Economics Essay Topics by Categories
Microeconomics essay topics.
Microeconomics is all about the small stuff: how businesses set prices, why you pick one brand over another, and how markets react when things go wrong.
If you’re looking to write an essay that gets to the heart of everyday economic policy decisions, here are 10 microeconomics essay topics that break down these concepts in a way that’s super relatable:
- How Supply and Demand Set the Price of Your Favorite Coffee Ever wonder why your coffee costs more some days? Break down how shifts in supply (like a bad harvest) or demand (like a popular trend) change what you pay.
- Why Do Some Businesses Charge Different Prices to Different Customers? Airlines, movie theaters, and even amusement parks do this all the time. Explore how they get away with it and whether it’s fair or just clever business.
- Monopolies: When One Company Controls Everything Think about big companies like Google or Amazon. Study how monopolies form and what happens when one business controls most of the market.
- Why Price Changes Affect Some Products More Than Others When the price of gas goes up, people still buy it. But what happens when the price of a luxury watch increases? Analyze why some goods are more “elastic” to price changes.
- How Taxes Change What We Buy and What Companies Sell Sales tax and income tax hits everyone, but how do they change what you buy or how businesses operate? Discuss how taxes can shift behavior in both small and big ways.
- Is Rent Control Really Helping Tenants? Rent control sounds like a good idea — keeping prices low for tenants — but does it always work? Explore how it affects the housing market, landlords, and renters.
- Why Discounts Make Us Buy More Whether it’s Black Friday or a simple coupon, discounts get people spending. Unpack why we love a good deal and how businesses use promotions to boost sales.
- How Companies Use Game Theory to Outmaneuver Competitors Imagine two competing pizza places in the same town. How do they decide on pricing or special offers? Game theory explains these strategic moves.
- Opportunity Cost: The Real Reason You Can't Have It All For example, choosing to spend your Saturday working means missing out on a day with friends. Explain how opportunity cost shapes decisions in everyday life.
- Market Failures: When the System Breaks Down Sometimes, markets don’t work as they should, like when companies pollute the environment or overcharge for life-saving drugs. Explore why these failures happen.
Macroeconomics Essay Topics
Macroeconomics looks at the big picture: things like national economies, global trade, and policies that shape the world as a whole.
If you want to write about the forces that impact everything from unemployment to inflation, these macroeconomics essay topics will give you plenty to think about:
- How Does Inflation Affect the Global Economy? Inflation doesn’t just make groceries more expensive. Look at how rising prices influence everything from wages to interest rates, both at home and across the world.
- The Role of Government Spending in Economic Growth Governments pump money into infrastructure, education, and defense. Analyze how these spending decisions drive a country's economic growth (or slow it down).
- The Global Impact of Trade Wars Trade wars between major economies, like the U.S. and China, can ripple across the globe. Discuss how tariffs and trade restrictions affect jobs and prices.
- How Do Central Banks Control Inflation? Central banks, like the Federal Reserve, have the power to raise or lower interest rates to keep inflation in check. Dive into the strategies they use and how effective they are.
- Unemployment Rates: What Do They Really Tell Us? Unemployment numbers make headlines, but what do they really reflect? Explore how these rates are calculated and what they reveal about the health of an economy.
- How Does National Debt Affect a Country’s Economy? Every country has debt, but how much is too much? Look into how national debt influences economic policies, interest rates, and long-term growth.
- The Economics of Brexit: A Case Study The UK's decision to leave the EU shook up global markets. Analyze how Brexit has impacted the UK’s economy, from trade agreements to labor markets.
- The Impact of Globalization on Developing Economies Globalization connects countries, but does it help or hurt developing nations? Discuss how international trade and investment influence economies that are still growing.
- How Do Exchange Rates Influence Global Trade? Currency values fluctuate daily, but what does that mean for countries that rely on exports and imports? Examine how exchange rates impact international business.
- The Effectiveness of Stimulus Packages During Economic Crises When economies face recessions, governments often step in with stimulus packages. Study how these interventions work and whether they truly help.
Managerial Economics Essay Topics
If you're into understanding business cycles and how businesses see costs and benefits and make tough calls, check out these managerial economics essay topics to get some great ideas for your next essay:
- How Businesses Choose the Right Prices in Competitive Markets Companies face pressure to price their products just right. Too high, they lose customers. Too low, they lose profit.
- Cost-Benefit Analysis: The Key to Smart Investments Cost-benefit analysis breaks down the numbers to see if an investment makes sense. Look into how managers use this tool to make big decisions.
- Why Demand Forecasting Matters for Business Success Imagine a company making too much of a product no one wants, or too little of a product that’s flying off the shelves.
- Using Break-Even Analysis to Keep Businesses Profitable Break-even analysis shows how many units a business needs to sell to cover its costs. It’s a simple but powerful tool that helps managers decide on pricing.
- Managing Risks: How Businesses Stay Ahead in Uncertain Times Every business faces risks, whether it’s a new competitor or a change in regulations. Explore how managers identify potential threats and put strategies in place.
- How Economic Policies Shape Business Strategy Changes in taxes, regulations, or interest rates can shake up a company’s entire strategy. Discuss how businesses adjust to these shifts to stay profitable.
- Smart Resource Allocation: How Businesses Boost Efficiency Resources are limited, and businesses have to make the most of what they’ve got. Explore how companies decide where to put their money, time, and manpower.
- Balancing Profit and Corporate Social Responsibility Balancing making money with being socially responsible isn’t easy. Discuss the challenges businesses face in trying to achieve both.
- How Businesses Use Game Theory to Outsmart the Competition Think of businesses like players in a game, always guessing what their competitors will do next. Game theory helps companies plan their moves and stay a step ahead.
- The Economics Behind Mergers and Acquisitions Explore how managerial economics helps businesses figure out if mergers and acquisitions are worth it and what risks they need to watch out for.
Consumerism Economics Topics to Write About
If you’re looking for economics essay topics about consumerism and economic behavior, here are 10 ideas packed with real-world relevance.
- The Psychology Behind Impulse Buying Why do we buy things we don’t need, like that extra item at checkout? Explore how companies use psychology to encourage impulse purchases.
- How Advertising Shapes Consumer Choices Advertising is everywhere, from social media to billboards. Analyze how companies use it to steer what we buy and how it drives consumerism.
- The Economic Impact of Fast Fashion Fast fashion brands pump out cheap clothes, but at what cost? Look into how this affects the economy, labor markets, and the environment.
- Consumerism and Environmental Sustainability As consumerism grows, so does waste. Discuss how excessive consumption contributes to environmental issues and what economic strategies could help.
- How Black Friday and Holiday Sales Affect the Economy Big sales events lead to a frenzy of buying. Dive into how Black Friday and holiday shopping spikes boost the economy and how they impact businesses.
- The Role of Consumer Credit in Driving Spending Credit cards and loans make it easy to buy now, pay later. Analyze how consumer credit fuels spending and the risks of rising debt.
- The Rise of Ethical Consumerism More people want to buy products that align with their values, like fair trade or eco-friendly goods. Explore how ethical consumerism is changing the marketplace.
- How Social Media Influencers Drive Consumerism From YouTube to Instagram, influencers play a massive role in what we buy. Discuss the economic power of influencers and how they’ve changed traditional advertising.
- The Effect of Consumerism on Local Businesses vs. Big Corporations Local stores struggle while big corporations thrive in a consumer-driven economy. Examine how consumerism affects small businesses.
- The Impact of Subscription Services on Consumer Spending Services like Netflix, Spotify, and subscription boxes have changed how we spend. Look at how the shift to subscription-based models is influencing consumer habits.
Economic History Essay Topics
Economic history is a fascinating mix of how money, trade, and policies have shaped societies throughout the ages.
If you're writing an essay on this topic, here are the best economic history essay topics that dive into key moments that changed the world.
- The Great Depression: Lessons for Today’s Economy Talk about how the 1930s economic collapse changed global policies and what we can learn from it for avoiding future crises.
- The Industrial Revolution: How It Transformed Economies The Industrial Revolution sparked a massive shift in how countries produced goods and built wealth. Discuss how this period laid the foundation for modern capitalism.
- How World War II Reshaped Global Economies Explore how the war resulted in new industries, boosted technology, and rebuilt economies in the post-war era.
- The Rise and Fall of the Gold Standard There was a time when the value of money was tied to gold. Explore the history of the gold standard and why countries eventually moved away from it.
- The Bretton Woods Agreement: Shaping Post-War Global Trade After World War II, nations came together to create new rules for global trade. Analyze how the Bretton Woods Agreement shaped international economic policies.
- How the Oil Crises of the 1970s Changed the World Economy The 1970s oil crises threw the world into economic chaos. Look into how skyrocketing oil prices affected inflation and unemployment.
- The Economic Impact of the Fall of the Soviet Union Discuss how the fall of communism opened up Eastern Europe to capitalism and what that meant for global markets.
- The Birth of Globalization: Economic Changes in the 20th Century The 20th century saw the rise of globalization, where trade, technology, and investment crossed borders like never before.
- How the New Deal Pulled the U.S. Out of the Great Depression Franklin D. Roosevelt’s New Deal brought sweeping changes to the U.S. economy in the 1930s.
- The Economic Boom of the 1990s: What Fueled It? The 1990s were marked by massive economic growth, especially in the U.S. Look at what factors, like the rise of technology and global trade, contributed to this boom.
Socio-Economics Essay Topics
Socio-economics looks at how our social structures — like education, class, and gender — affect and are affected by the economy.
- How Education Shapes Your Financial Future Education is supposed to be the great equalizer, but is that really true? Look at how access to quality education can make or break someone's chances for success.
- Income Inequality: Why It’s More Than Just Numbers When the gap between the rich and poor keeps growing, it impacts more than just people’s bank accounts. Discuss how rising income inequality affects social stability.
- The Real Impact of Social Welfare Programs Social welfare programs like food stamps and unemployment benefits keep millions afloat, but they’re often criticized.
- Gentrification: Economic Growth or Displacement? Gentrification can bring new businesses and higher property values to a neighborhood, but it also pushes out long-time residents.
- The Gender Pay Gap: More Than Just a Wage Difference We’ve all heard that women earn less than men, but why is this still happening in 2024? Explore the deep-rooted socio-economic reasons for the wage gap.
- Is the Gig Economy Really a Win-Win? Driving for Uber or delivering for DoorDash might offer flexibility, but is it good for workers in the long run? Take a closer look at the gig economy's effects.
- How Healthcare Access Affects Economic Opportunity In many places, your access to healthcare depends on your income. Discuss how this inequality impacts people's ability to work, stay healthy, and contribute to the economy.
- Cultural Norms and Economic Success: What’s the Link? The way people handle money, approach work, and run businesses often ties back to cultural values. Explore how cultural norms shape economic decisions.
- Racial Discrimination’s Long-Term Impact on Economic Mobility Look into how racial bias affects job opportunities, wages, and even the ability to build wealth, and why this creates huge barriers for entire communities.
- Affordable Housing: A Key to Economic Stability Examine how the lack of affordable housing policies impacts not just individuals, but also economic growth, job opportunities, and education in communities.
International Economics Essay Topics
International economics covers everything from trade agreements to global financial crises and how one country’s decisions can ripple across the world.
If you’re looking for interesting economics essay topics in this area, here are 10 timely international economics essay topics that are timely:
- Is Foreign Aid Really Helping Economies Grow? Foreign aid is meant to lift struggling nations, but does it truly help them develop or just make them dependent?
- What Happens When the U.S. and China Trade Unevenly? The U.S. buys more from China than it sells, and that imbalance has serious effects on the global economy.
- Refugee Crises: Who Pays the Price? Hosting refugees comes with big financial challenges — explore how countries handle this responsibility.
- Could a Global Minimum Tax Change Business Forever? Governments want to stop big companies from avoiding taxes by moving money around. How would a global tax work?
- Can Global Trade Help Fight Climate Change? Trade deals often ignore the environment. Look into how international agreements could better support green goals.
- How Cross-Border Online Shopping Is Changing Business Online platforms make it easy to shop worldwide. But how does this affect traditional international trade?
- The Collapse of Global Tourism After COVID COVID-19 hit tourism hard, especially in countries that depend on it. What are they doing to recover?
- Do Intellectual Property Laws Help or Hurt Global Trade? Protecting patents and trademarks is crucial, but it can also make it harder for poorer nations to compete.
- How Trade Sanctions Mess With Global Food Supply Sanctions don’t just hurt the targeted countries — they also mess up global food chains and push up prices.
- New Trade Blocs Like Africa’s Free Trade Agreement Regional trade agreements are changing the game — Africa’s trade bloc is set to open up huge new markets.
Behavioral Economic Topics to Write About
Behavioral economics digs into why we make the money decisions we do, often without realizing the psychology behind it. If you’re looking for fresh essay ideas, here are the best behavioral economic topics for you:
- Why We Can’t Resist Sales We’ve all bought something just because it was on sale. Explore why discounts make us feel like we’re winning, even when we don’t need the item.
- Default Choices: How We’re Steered Without Knowing It Sticking with default settings, whether in retirement plans or subscriptions, happens more often than we think. Look at how these defaults shape decisions.
- Spending to Keep Up: Why We Buy When Others Do When friends or influencers buy the latest thing, it’s tough not to follow. Dive into how social pressure pushes people to spend more than they planned.
- Why Saving for the Future Is Hard We all know we should save, but it’s easier said than done. Explore why putting money aside is such a challenge, even with the best intentions.
- The Fear of Losing Money: Why We Avoid Investing Losses feel worse than gains feel good. This fear keeps people from taking smart investment risks, even when the rewards are clear.
- Why We Overvalue Our Own Stuff We tend to think our belongings are worth more than they really are. This "endowment effect" can make it harder to let go or price things fairly.
- How Price Tags Trick Us Into Believing We’re Saving When retailers show a high original price next to a sale price, it’s a tactic called anchoring. We believe we’re getting a great deal, even if we’re not.
- Why We Treat Windfall Money Differently People often spend unexpected money — like tax refunds — more freely than their regular paycheck. This “mental accounting” leads to different spending habits.
- How Emotions Drive Stock Market Decisions Fear and excitement often cause wild market swings. Explore how emotions, rather than logic, drive many investment choices.
- Using “Nudges” to Change Behavior Small tweaks, like placing healthy foods at eye level, help guide decisions without force. Discuss how these nudges work in public policy and everyday life.
Environmental Economics Essay Topics
Environmental economics looks at how we manage the trade-offs between growing economies, sustainable development, and protecting the planet:
- How Climate Change is Costing Economies Floods, wildfires, and hurricanes are hitting harder than ever. Beyond the environmental damage, these disasters are leaving governments and businesses with repair bills.
- Carbon Taxes: Are They Worth It? Carbon taxes are supposed to push companies toward greener practices. But do they actually cut emissions, or just pass the cost onto consumers?
- The Price of Switching to Renewable Energy Renewable energy is the future, but the cost of switching from coal and oil isn’t cheap. Many industries are struggling to keep up with the financial burden of going green.
- How Environmental Rules are Reshaping Business With stricter regulations around pollution, companies are being forced to adapt. Some are investing in greener technologies, while others struggle to keep profits up.
- Plastic Pollution is Costing More Than You Think From clean-up costs to its impact on tourism and fishing industries, the hidden price tag is massive.
- Can Economic Growth and Sustainability Go Hand in Hand? There’s a constant debate: Can countries keep growing their economies without wrecking the environment?
- Are Green Energy Subsidies Really Helping? Governments are pouring money into wind and solar, but are these subsidies driving long-term change, or just offering a temporary boost to the market?
- Deforestation: Short-Term Gains, Long-Term Losses Cutting down forests might bring quick cash to industries like agriculture and logging, but the long-term economic damage can be far worse.
- Is Recycling Enough to Fix the Waste Problem? Recycling helps, but is it really solving the global waste crisis? With plastic production outpacing recycling efforts, it’s becoming clear that more is needed.
- Water Scarcity is Becoming a Major Economic Problem Countries facing droughts are finding it harder to grow food, run businesses, and maintain economic stability.
Agricultural Economics Essay Topics
Agricultural economics is about how farming, food production, and rural economies are impacted by market forces, government policies, and environmental changes. Here are 10 agricultural economics essay topics that deal with key issues:
- The Economic Impact of Climate Change on Farming Explore how changing weather patterns are disrupting crop yields and pushing farmers to adapt to new methods.
- The Role of Government Subsidies in Agriculture Look at how subsidies support farmers and stabilize food prices, but also lead to debates about market distortion.
- Food Security and Global Trade Discuss how international trade influences food availability and the economic challenges of ensuring food security for all.
- The Economics of Organic Farming Organic farming is growing in popularity, but is it financially sustainable for farmers in the long term?
- The Role of Technology in Modern Agriculture From drones to AI, explore how new technologies are transforming farming efficiency and boosting profits.
- Agricultural Policy and Its Effect on Rural Economies Analyze how government policies shape rural economic development and the livelihoods of farming communities.
- The Global Coffee Market: Supply Chain Economics Study how fluctuations in coffee prices impact both local farmers and global markets.
- The Economics of Water Use in Agriculture Water scarcity is a growing problem. Look at how agriculture can adapt economically to limited water resources.
- GMOs and Their Economic Benefits for Farmers Genetically modified crops promise higher yields, but are they delivering real financial benefits to farmers?
- Land Ownership and Its Economic Effects on Farming Examine how land ownership rights and access to land influence farming productivity and rural economies.
Financial Economics Topics to Write About
Here are the best financial economics essay topics that shed light on real-world financial challenges.
- The Role of Behavioral Biases in Investment Choices Investors don’t always make rational decisions. Emotions like fear or greed often lead to poor financial choices, affecting everything from stock prices to long-term savings.
- How Interest Rate Changes Shape the Economy When central banks raise or lower interest rates, borrowing and spending shift across the entire economy.
- The Rise of Cryptocurrency and Its Future in Finance Bitcoin and other cryptocurrencies are changing how people think about money. The volatile nature of these assets sparks debates about their role in the financial system.
- Financial Bubbles: Why Do They Keep Happening? From the dot-com bubble to the housing crash, bubbles have led to huge financial disasters.
- How Corporate Finance Decisions Impact Shareholders Corporate choices on mergers, acquisitions, or even stock buybacks affect shareholders’ wealth. This topic dives into the pros and cons of these financial strategies.
- The Economic Risks of Rising Household Debt As debt levels climb, especially for things like credit cards and student loans, the pressure on households can strain the broader economy.
- The Impact of High-Frequency Trading on Financial Markets High-frequency traders use algorithms to make rapid trades, but this practice raises concerns about market stability and fairness.
- The Effect of Inflation on Long-Term Investment Inflation erodes purchasing power over time, and this has a direct impact on long-term investments like bonds and retirement savings.
- The Role of Derivatives in Financial Markets Derivatives can help manage risk, but they also played a key role in the 2008 financial crisis.
- The Connection Between Stock Market Performance and Economic Growth The stock market is often seen as a measure of the economy’s health, but the link between market performance and real economic growth isn’t always straightforward.
How to Choose an Economics Essay Topic?
Choosing an economics essay topic can feel overwhelming, especially with so many angles to explore. But finding the right topic is crucial for writing a compelling essay that keeps you engaged from start to finish. Here’s a guide to make the process easier.
First off, think about what genuinely interests you. Writing about something you’re curious about will keep you motivated. For example, if you’re passionate about sustainability, exploring the economics of renewable energy might be your thing. Or, if you love staying updated on tech trends, you could look into the economic effects of cryptocurrencies or the gig economy.
Next, consider the scope of your topic. Some economics issues are too broad, like "global trade," which can be difficult to narrow down. On the flip side, a super-specific topic like "coffee trade in Guatemala" might not give you enough material. Aim for something that strikes a balance.
Another key step in choosing an economics essay topic is thinking about current events. Economics is always evolving, so focusing on something relevant today, like the gig economy or cryptocurrency regulations, will keep your essay timely and interesting.
Here’s a quick table to help you narrow down your options:
Consideration | What to Ask Yourself |
---|---|
Interest | What economics topics spark your curiosity or passion? |
Scope | Is this topic too broad, or too narrow? |
Relevance | Does this topic connect to current events or modern issues? |
Available Research | Are there enough resources available to support your essay? |
Complexity | Can you explain this topic clearly, or is it too complicated? |
Finally, don’t stress about choosing the perfect topic. The goal is to find something you can enjoy researching. The more interested you are in the subject, the better your essay will be!
Right now, some of the hottest trends in economics revolve around topics like climate change’s impact on global markets, the rise of digital currencies like Bitcoin, and the economic shifts caused by the gig economy. You’ll also see discussions on inflation, income inequality, and how automation is reshaping industries.
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Economics Extended Essay Guide: Everything You Need to Learn
by Antony W
April 18, 2024
This guide covers everything you need to learn before you write an IB Economics Extended Essay.
We look at the definition, structure, assessment criteria, topic selection, data collection, analysis and evaluation, and reflection.
What is an IB Economics Extended Essay?
An Economics Extended Essay is a 4,000-word autonomous, self-directed report based on a topic of personal interest. This project allows you to:
- Improve your research skills.
- Apply economic theories to a real-world issue.
- Analyze and evaluate the outcomes of your study.
The essay requires 40 hours of preparation and writing. Moreover, you’ll get help from your school-based supervisor throughout this period. The result should be a clear and well-organized analytical essay.
To write a comprehensive Economics EE, you must dedicate time to conduct in-depth research to collect meaningful and reliable data you can use to analyze the context of your theory and research issue.
IB Economics Extended Essay Structure
Your Economics EE should feature a title page, table of contents, introduction, methodology, main body, conclusion, bibliography, and appendices.
- Title Page: Write the title of the essay, the EE research question , subject, and word count.
- Table of Contents: Make sure each section mentioned in your table of contents has corresponding page numbers.
- Introduction: Explain the focus of the essay, the scope of the research, and your line of argument.
- Main Body: Write reasoned arguments for the issue under investigation. Use subheadings for methodology, analysis, discussion, and evaluation.
- Conclusion: Communicate what you’ve achieved. Mention the limitation of your research and note what your research question couldn’t answer.
- Bibliography: Cite all the EE sources to demonstrate that you engaged in in-depth research and that you care about academic integrity.
IB Economics Extended Essay Assessment Criteria
The assessment criteria for an extended essay in economics examine focus and method, knowledge and understanding, critical thinking, presentation, and engagement. The following table is a complete summary of the marking scheme.
6 | Topic, research question, and methodology | Focus and method looks at your subject, research issue, and approach. It looks at the description of the study, how you conducted research, and your area of emphasis. | |
6 | Context and subject-specific terminologies and concepts | Knowledge and understanding focuses on relevance of your study to the topic. IB looks at how you demonstrate your economic knowledge, language, and ideas. | |
12 | Research, analysis, discussion and evaluation | Critical thinking looks at the extent to which you’ve analyzed and evaluated the research conducted. | |
4 | Structure, and layout | Presentation looks at the layout of your economics extended essay. You have to adhere to the conventional structure to score a 4. | |
6 | Process, and research focus | Engagement evaluates the extent to which you participated in the research process and completed the economics extended essay. |
Economics Extended Essay Topic Selection
The best economics EE topic is the one that you find interesting enough to explore, as long as the focus remains on the fundamentals of economic concepts.
We strongly suggest you choose a topic that allows you to apply economic theories, methods and instruments present in the curriculum. Remember, the assignment requires you to conduct secondary research. However, you may also conduct pertinent original research depending on the topic you choose.
Your topic should:
- Be historical. However, your focus should be on a research issue that’s no more than five years old.
- Allow you to use economic theories and concepts to answer your research question.
- Provide opportunities for critical analysis of the information and data collected.
- Allow enough room for analysis while sticking to the scope of the essay.
Don’t choose a broad topic because the essay needs critical and reflective thinking and analysis on something specific. And don’t pick an excessively narrow theme because you may not have access to specific data.
So choose your topic wisely, making sure that it isn’t too wide or too narrow to fit within the scope of the EE’s requirements.
Data Collection in Economics Extended Essay
You have to conduct original research on topics covered in the economics curriculum. Therefore, spend just enough time establishing value for your topic in microeconomics, macroeconomics or the global economy.
Doing original research goes a long way to show that the title and the research question is an issue unanswered by secondary sources.
If you’ve decided to write an EE on microeconomics, you may have to use primary research in the form of surveys, questionnaires, or interviews with pertinent businesspeople direct to the study subject.
Themes from macroeconomics and the global economy require more secondary research in the form of data extraction from published academic papers, historical records, government publications, newspaper/online articles, and statistical databases.
Analysis and Evaluation in Economics EE
The analysis of your economics extended essay can only be effective if you use pertinent economic theories to analyze data collected.
You have to incorporate applicable economic theories, models, and methods in your research’s findings.
For example, you can exhibit critical analysis and evaluation by a sound assessment and judgment of the amount to which the applicable economic theory is beneficial in addressing your research question .
If you cannot establish relevant connections between your selected topic and the research question, avoid establishing knowledge claims based on economic theories, models, and instruments.
Criterion C of the assessment instrument requires you to provide precise findings for each analyzed point, and there has to be interim conclusions throughout your writing.
Demonstrate knowledge and understanding of the limitations of your own research, flaws in the economic theories, and underlying assumptions of the models utilized when developing your arguments. Also, evaluate the extent to which an economic theory may or may not describe your topic.
IB Economics EE Reflection Session
Being reflective is one of the IB learner profile characteristics, and it is now a formal requirement of the EE evaluation criteria.
IB uses the Reflections on Planning and Progress Form (RPPF), which has a 6-point value, to evaluate reflections. This is a substantial amount of points, which can determine the distinction between two grades on the final examination.
As part of the EE requirements, you will be required to hold three mandatory reflection sessions with your supervisor, and each of these reflection sessions appear on the official RPPF.
Reflection in the EE focuses on the process of the assignment itself.
Consider the following areas of reflection for each portion of the RPPF:
- How did you overcome the problems, setbacks, and barriers you encountered, and what did you learn in the process?
- Which of the IB learner profile characteristics apply to you?
- What did you learn, and did new views emerge?
The maximum word count for all three reflections is 500. You must write the reflection in your own word and pertain only to your personal learning journey throughout the course.
About the author
Antony W is a professional writer and coach at Help for Assessment. He spends countless hours every day researching and writing great content filled with expert advice on how to write engaging essays, research papers, and assignments.
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Start by writing the key points you want to focus on in a basic list. Once you have put together a list of key points, then try to add in some more detail that brings in elements from your research. When you come to write out your essay, you can develop a paragraph based on each point. 5. Think about your structure.
Some tips for writing economics essays Includes how to answer the question, including right diagrams and evaluation - primarily designed for A Level students. 1. Understand the question. Make sure you understand the essential point of the question. If appropriate, you could try and rephrase the question into a simpler version.
Published annually, The Economic Report of the President includes: (1) current and foreseeable trends in and annual goals for employment, production, real income, and Federal budget outlays; (2) employment objectives for significant groups of the labor force; and (3) a program for carrying out these objectives.
Published annually, the Economic Report of the President includes: (1) current and foreseeable trends in and annual goals for employment, production, real income, and Federal budget outlays; (2) employment objectives for significant groups of the labor force; and (3) a program for carrying out these objectives.
y to writing in any discipline. Part II, "Researching Economic Topics," tries to explain the scholarly and analytical a. proach behind economics papers. The third part, "Genres of Economics Writing," briefly surveys some of the kinds of pap. rs and essays economists write. It is in the fourth part, "Writing Economics," that the ...
Step 3: Essay Introduction. In the introduction, include definitions of keywords in the question and spell out the economic framework you will employ for your answer as well as key definitions. Step 4: Body of Essay. In the body, there will be several paragraphs. The number of points/paragraphs depends on the question.
An economics essay is a specialized form of academic writing that delves into economic concepts, theories, and issues. What sets it apart from other types of writing, for example, an article review example , is its focus on the economic aspects of various subjects, its emphasis on data analysis, and its application of economic principles to ...
Here are some economics essay examples: Short Essay About Economics. The Role of Fiscal Policy in Economic Stimulus. Fiscal policy plays a crucial role in shaping economic conditions and promoting growth. During periods of economic downturn or recession, governments often resort to fiscal policy measures to stimulate the economy.
To show you how to write an economics essay, I'll be integrating an essay I wrote in my trial: "For an economy other than Australia, discuss and evaluate the strategies used to promote economic growth and development" First, let's break down the question: Discuss - Provide points for and against. Evaluate - Provide a judgment based ...
Keep your writing self-contained. requenFt references to other works, or to things that have come before or will come later, can be distracting. Put details and digressions in footnotes. 2. oT mere mortals, a graphic metaphor, a compelling anecdote, or a striking fact is worth a thousand articles in Econometrica.
rs, year of publication and the exact title. If the book is an edited work with different authors contributing individual chapters, you must list the. dited work and the specific chapter(s) used. . uotes should be accompanied by page numbers. Avoid websites like econom. help.com as these are n.
NOT GOOD: "Economic growth increased by 1 percentage point in 2017 to 2018". NOT GOOD: "GDP was $1.32403 trillion in 2017". GOOD: "The 2017 Budget's Infrastructure Plan injected $42 billion into the economy — up 30% from 2016's $31 billion, and 20% higher than the inflation-adjusted long-term expenditure.".
Start with a sentence explaining part of what the question is about, using a keyword from the course, if possible. Define a key word in the question. Preferably the keyword used in your first sentence. Define either another key word in the question (if there is another one) or an important related key word. Define either another key word in the ...
Thesis - Justification - Support. This is the rhetoric used by Bray et al. Thesis - the main concept or idea that you are proposing. Justification - the reasons why your thesis is valid. Support - evidence that backs up your justification. Essay structure - your introduction, main body, and conclusion.
The 8-Step Approach. Step 1: Read the question carefully. Step 2: For a two-part question, look at the mark that each part carries as it indicates the length of the answer expected. Further, consider part (b) before attempting part (a) to prevent any overlap between the answers. Step 3: Pay particular attention to key words as they indicate the ...
If necessary, provide the reader with visual aids. Sometimes, an appropriate diagram or a suitable chart can say more than words. Besides, your paper will look more professional if you use any kind of visual aids. Conclude your essay. In your conclusion, summarize and synthesize your work by restating your thesis.
Evaluation is an important component of an advanced essay. It requires the ability to look at facts, arguments and analysis, with a degree of critical distance. Evaluation involves: Looking at what other factors may affect the outcome. Time lags involved. Why the original statement may be incorrect.
Writing economics essays for A levels, O level or GCSE exams may seem like a daunting task. Where to start? How much to write? What to write? Don't worry, we...
Body Part 1: The "course concepts" part. Include 3 to 5 course graphs that help you answer your RQ. As you write, you'll be using economics diagrams and concepts to help to answer your question. By the end of each tool-section, you'll want to include some data and analysis on your case.
Attributes of Writing Economics The discourse is often mathematical, with lots of formulas, lemmas, and proofs. Writing styles vary widely. Some authors are very dry and technical while a few are quite eloquent. Economics writing is different from many other types of writing. It is essentially technical, and the primary goal is to achieve clarity. A clear presentation will allow the strength ...
Steps on how to Write an Economics Essay. The various steps entailed in writing an economics essay include: a) Identifying the essay requirements: this step entails going through the economics essay question to clearly identify the expectations of the essay.As noted above, this step usually seeks to identify the specific areas in the essay question that require addressing.
#economicessay #economicessaywriting #howtowriteeconomicessay Dive into the world of economic essay writing with our comprehensive tutorial! Whether you're a...
An economics essay discusses a topic of importance in a domestic or international economy in current events or from history. The introduction to your economics essay should indicate that you have thoroughly researched the economic principles or news. You must also present an introduction that is riveting, draws the reader in and inspires him to ...
Editor's Note: Although this post was made in 2018, any sample responses will be written as if they were written in 2016, reflecting the current state of the economy at the time. Step 1: Plan Your Response. Step 2: Finish Your Introduction Strong. Step 3: The Writing Process. Step 4: Practise Writing HSC Economics Essay Plans.
If you're writing an essay on this topic, here are the best economic history essay topics that dive into key moments that changed the world. The Great Depression: Lessons for Today's Economy Talk about how the 1930s economic collapse changed global policies and what we can learn from it for avoiding future crises.
An Economics Extended Essay is a 4,000-word autonomous, self-directed report based on a topic of personal interest. This project allows you to: Improve your research skills. Apply economic theories to a real-world issue. Analyze and evaluate the outcomes of your study.