economics essay sample

Economics Essay Examples

Ace Your Essay With Our Economics Essay Examples

Published on: Jun 6, 2023

Last updated on: Jan 31, 2024

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Are you struggling to understand economics essays and how to write your own?

It can be challenging to grasp the complexities of economic concepts without practical examples.

But don’t worry! 

We’ve got the solution you've been looking for. Explore quality examples that bridge the gap between theory and real-world applications. In addition, get insightful tips for writing economics essays.

So, if you're a student aiming for academic success, this blog is your go-to resource for mastering economics essays.

Let’s dive in and get started!

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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 you’re wondering, ‘how do I write an economics essay?’, consulting an example essay might be a good option for you. Here are some economics essay examples:

Short Essay About Economics

A Level Economics Essay Examples

Here is an essay on economics a level structure:

Band 6 Economics Essay Examples

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.

Our economics essay writing service is always ready to help students like you. Our experienced economics essay writers are dedicated to delivering high-quality, custom-written essays that are 100% plagiarism free.

Also try out our AI essay writer and get your quality economics essay now!

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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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How to Write a Good Economics Essay

Last Updated: March 7, 2023 References

This article was co-authored by Emily Listmann, MA . Emily Listmann is a private tutor in San Carlos, California. 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. This article has been viewed 127,275 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. [7] X Research source
• 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. [10] X Research source

• 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. [12] X Research source

• Always include a bibliography, but don’t include references to things you haven’t read or didn’t inform your argument. [13] 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.

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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
• ↑ http://homes.chass.utoronto.ca/~mcmillan/writing.pdf
• ↑ 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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Home Essay Samples

Essay Samples on Economics

Economics relates to one of the most complex academic tasks because it is always a very complex mixture of calculations and analysis. Some students choose case study writing as a solution, yet it’s not always efficient because one should know the subject well and provide the facts. The purpose of most essays on economics is to explain why a certain method is the most efficient and what solutions can help achieve success or explain the challenges. See economic essay examples as a better way to learn and see how to structure your writing and what parts are essential for your essay. Don’t forget that your grading rubric will contain helpful information that will help to narrow things down. Take your time to explore economics essay examples because these address all the possible subjects and essay types related to economics. If you are unsure about your essay’s structure, use these samples as a writing solution and see if you can fit things within your word count. It’s always helpful if you can start with an outline first and take notes about the key arguments that you would like to make or certain limitations that will help you to address the problem.

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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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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 Publication. Click here to order .

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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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Economics Essay Examples and Topics

Should students have part-time jobs essay.

• Subjects: Economic Trends

Starting a Business Essay – How to Start

• Subjects: Economic Systems & Principles
• Words: 1544

Four Perspectives on Globalization

• Subjects: Globalization

Effects of Natural Disasters Essay

• Subjects: Big Economic Issues
• Words: 1456

Ethical Issues of Targeting Uninformed Consumers

• Subjects: Consumer Science

Import Substitution and Export Promotion’ Comparison

• Subjects: Theories of International Trade

Essay on the American Dream: Positive and Negative Aspects

• Words: 1476

Tabby Versus Other Payments Gate Out

• Subjects: Finance

Nike Consumer Behavior Analysis

Supply and demand of nike shoes.

• Subjects: Financial Reporting

The United Nations Sustainable Development Goals

• Subjects: Economic Development

Tourism and economic development

• Words: 3659

Industrial Relations Theories

• Subjects: Trade
• Words: 2173

Advantages and Disadvantages of Globalization Essay

Roles of international financial institutions essay.

• Words: 1267

Marx vs. Weber on Capitalism

• Words: 1154

Effects of Globalization

Economic development of bangladesh.

• Words: 2399

Traditional vs. Online Shopping

• Words: 1302

Samsung: Globalization Effects on Growth and Performance

• Words: 1144

Nigeria’s Economic Crisis

• Words: 1361

Pros and Cons of Hosting the World Cup

• Subjects: Economic Problems
• Words: 2231

Globalization in Caribbean Countries: Advantages and Disadvantages

The importance of service industries in economic growth.

• Words: 1572

Consumerism-Effects on Society and Environment

• Words: 2558

Globalization

• Words: 3011

What are the Main Limitations of the Solow Model?

• Words: 2510

Globalization as a positive factor

• Words: 2261

Samsung Company Decision-Making, Strategy and Performance

• Words: 2226

UAE Stock Markets: ADX and DFM Performance Comparison

Stock market essay.

• Subjects: Investment

The Negative Impacts of Globalization

“the gift of strawberries” by robin kimmerer.

• Subjects: Economic Theories

Purchase and Product Involvement when Buying

• Words: 2539

Human Development Index: Limitations and Benefits

Financial globalization advantages & disadvantages.

• Words: 1740

Challenges Facing the Resort Industry

Globalization and organizational behavior in company, the world is flat by thomas friedman: what really happened, mcdonald’s finance sources.

• Subjects: Financial Growth
• Words: 1612

Concept of the Globalization’ Ideology

• Words: 1185

Electric Cars: Demand, Supply and Equilibrium Price

Netflix’s price elasticity of demand strategy.

• Subjects: Microeconomics

Economists make the statement that “There is no such thing as a free lunch”. Explaination

Thomas friedman’s three eras of globalization, theoretical ideas of marx, weber, and durkheim in “practice theory”.

• Words: 3382

Youth Unemployment as a Social Issue

• Words: 2207

Advantages and Disadvantages of Integration

• Subjects: Macroeconomics

Similarities Between Capitalism and Socialism. Compare & Contrast

• Words: 3041

Factors Affecting Consumer Behavior

• Words: 1113

Imports and Exports

• Subjects: Fair Trade

Challenges Facing the Cruise Industry

Why you should to invest, effects of globalization in the uae.

• Words: 1068

“Fixed Income” Short Story by Alexie Sherman

Marx and weber and how their views differ on religion.

• Words: 1873

“How to Judge Globalism?” by Amartya Sen

• Words: 1117

Positive and Normative Economics

• Words: 1176

Market Structures

• Words: 1550

What Is the Iraqi Dinar Scam

• Subjects: Currency

Tesco Plc Financial Analysis and Recommendation

• Words: 1628

The Impact of Globalization on Indigenous Communities

• Words: 1388

The Consequences of Moving to a Cashless Society

• Words: 1257

Poverty and the Environment

Responsible consumption and production, too big to fail.

• Words: 1468

Schumpeter’s Innovation Theory

• Words: 1007

Privatization of Education

• Words: 2203

Housing: Renting and Owning a House

• Subjects: Housing

Yearend Internal Auditing: Case Study Example

• Words: 2507

How Oligopoly Works in the American Cellular Industry

• Words: 1887

Starbucks Corporation Foreign Direct Investment in Japan

“the globalization of markets” by theodore levitt, foreign direct investment advantages and disadvantages.

• Words: 2515

Entering New Markets: McDonald’s International Strategy

• Words: 2778

Fordism, Its Benefits and Critique

• Words: 2514

Globalization: Positive and Negative Effects

Financial reporting.

• Words: 3028

How to Create a Better Economy

Tariffs, their advantages and disadvantages.

• Subjects: Taxation
• Words: 1345

Islamic Economic System and Socialism Comparison

• Words: 2723

The Consumer Behavior in Hospitality Industry

• Words: 4061

Traditional Versus Modern Banking Essay

• Subjects: Banking Analysis

Macro-Environment (PESTLE Analysis) of Target Corporation

• Words: 1441

Customer Service Field: Internship Experience

Mcdonald’s entry into the chinese market.

• Words: 3043

Does Democracy Require Equality of Income or Wealth?

• Subjects: Political Economy Processes

International Trade and Logistics of Ford Motor Company

• Words: 2500

Economic Analysis of the Cell Phone Oligopoly

• Subjects: Regulation of Finance
• Words: 1197

How Globalization has affected Managerial Decision-making

• Words: 1622

International Business – Challenges and Opportunities

• Words: 1842

Early Retirement: Pros and Cons

• Words: 1486

Theories of consumer behaviour

• Words: 3831

Nigeria’ Development: Modernization and Dependency Theories

• Words: 1379

The Retail Grocery Market Structure in Australia

• Words: 2428

Discussion on Business-Government Relationship

• Words: 4056

Externalities Environment and Analysis for Australian Fitness Industry

• Words: 2056

Globalization Positive and Negative Impacts

• Words: 2435

Uncontrollable Forces on International Business

• Words: 1431

Bank of England Role Compared to the Federal Reserve System

• Words: 2860

Superbowl 2022: Financial Impact on the Host City

• Words: 2773

Factors that Influence International Business

• Words: 1999

Capital markets in India

The role of industrialization in development economics.

• Subjects: Influences on Political Economy
• Words: 2475

Concept of Globalisation and Cultural Diversity

• Words: 3416

The Grameen Bank’s Success

• Words: 1829

Elasticity of Demand

• Words: 1436

Needs and Wants

The economic crisis in dubai 2008.

• Words: 1710

The Impact of Globalization on the International Hotel Industry

• Words: 1928

The Economic Impact of the Icelandic Volcano Eruptions on the International Economy

• Words: 4064

Globalisation Impacts on International Business

• Words: 2731

Should America Keep Paper Money

• Words: 1139

Sustainable Economic Development

How changes in technology has contributed towards the globalization of markets and of production, international business in singapore: pest analysis.

• Words: 1399

Impacts of Culture on Consumer Behaviour

• Words: 5278

Economic Policies That Overstepped Biblical Principles

Financial management of nike, business environment in india.

• Words: 3267

Macro Economic Essays

These are a collection of essays written for my economic blogs.

Exchange Rate Essays

• Effects of a falling Dollar
• Why Dollar keeps falling
• Discuss Policies to Stop the Dollar Falling
• Does Devaluation Cause Inflation?
• Benefits and Costs of Falling Dollar
• Reasons for Falling Dollar
• The Dollar as the World’s Reserve Currency

Economic Growth Essays

• Evaluate Benefits of Economic Growth
• Essays on Recessions
• Causes of Recessions
• Problems of Recovering from a Recession
• What can Increase Long-Run Economic Growth?
• Discuss Effect of a fall in the Savings Ratio

Inflation Essays

• Discuss the Difficulties of Controlling Inflation
• Should the aim of the Government be to Attain Low Inflation?
• Explain What Can Cause a Sustained Increase in the Rate of Inflation
• Reasons for low inflation in the UK
• Inflation Explained
• Difficulties of Inflation targeting
• Hyperinflation

Unemployment Essays

• Explain what is meant by Natural Rate of Unemployment?
• Should the Main Macro Economic Aim of the Government be Full Employment?
• The True Level of Unemployment in the UK
• What explains low inflation and low unemployment in the UK?

Demand Side Policies

• Discuss effect of Expansionary demand-side policies on Balance of Payments and Environment
• Effects of a Falling Stock Market
• How do Mortgage Defaults affect and Economy?
• Discuss the effect of increased Government spending on education
• Phillips Curve – Trade-off between Inflation and Unemployment

Development Economics

• Why Growth may not benefit developing countries
• Does Aid Increase Economic Welfare?
• Problems of Free Trade for Developing Economies

Fiscal Policy

• Will US Economy benefit from Tax Cuts?
• Can Fiscal Policy solve Unemployment?
• Explain Reasons for UK Current Account Deficit
• Benefits of Globalisation for Developing and Developed Countries

Monetary Policy

• Discuss Effects of an Increase in Interest Rates
• How MPC set Interest Rates
• Benefits of High-Interest Rates (and recessions)
• Who Sets interest rates – Markets or Bank of England?

Economic History

• Economics of the 1920s
• What Caused Wall Street Crash of 1929?
• UK economy under Mrs Thatcher
• Economy of the 1970s
• Lawson Boom of the 1980s
• UK recession of 1991
• The great recession 2008-13

General Economic Essays

• The Dismal Science
• Difference Between Economists and Non Economists
• War and Recessions
• The Economics of Fear
• The Economics of Happiness
• Can UK and US avoid Recession?
• 3 Of the Worst Economic Policies
• Overvalued Housing Markets
• What Went Wrong with US Economy?
• Problem with Bailing out financial sector
• Problems of Personal Debt
• Problem of Inflation
• National Debt in the UK
• How To Survive a Recession
• Can A recession be a good thing?

Chinese Economy

• Problems of Chinese Economic Growth
• Should we worry about a strong China
• Chinese Growth and Costs of Growth
• Chinese Interest Rates and Economic Growth

Model essays

• A2 model essays
• AS model essays
• Top 10 Reasons For Studying Economics
• Inflation explained by Victor Borge
• Funny Exam Answers
• Humorous look at Subprime crisis

NOW OPEN: 2024 Term Two Enrolments 🎉

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 Ranker & 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!

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Economics Revision Essay Plans

Last updated 17 Dec 2019

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This series of resources provides revision essay plans for a wide variety of essay topics, including synoptic questions.

For the 2019 papers check out our collection of videos on building A* evaluation into your answers

Have you tried our series of more than 50 Quizlet revision activities? Click here to access!

Essay Plan: Limits on Monopoly Power

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Chains of Reasoning and Evaluation: Fuel Prices in the UK

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EU Customs Union Membership (Revision Essay Plan)

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Market for Electric Vehicles (Revision Essay Plan)

Mergers and consumer welfare (revision essay plan), air pollution and policies to control (revision essay plan), policies to improve competitiveness (revision essay plan), economic effects of higher interest rates (revision essay plan), current account deficit & policies (revision essay plan), unemployment and policy trade-offs (revision essay plan), case for cutting the national debt (revision essay plan), micro-finance (2019 revision update), essay on advertising and economic welfare, essay on oligopoly and collusion, policies to control inflation.

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Why is high inflation a problem?

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• Senior Essay

The senior essay for economics majors is optional. However, the senior essay is required for consideration for Distinction in the Major. Most students who write a senior essay find it immensely rewarding and consider it one of their best experiences at Yale.

Senior essays are an opportunity for students to engage in independent, original economic research. Essays are not reviews of the literature, rather they are an examination of an hypothesis using the tools of economics. In particular, the essay must contain original research and/or analysis. They can be theoretical, empirical or computational. The senior essays that receive A’s and are awarded prizes are typically those that use economics tools (and, where appropriate, data) to offer fresh insights on questions. Topics are as diverse as recording and analyzing the behavior of black jack players, the effect of charter schools on student performance, the effect of China’s development on trade, the effect of the Fed on the stock market…. Examples of past essays are available on the department website .

See below for a guide written by thesis writers in the class of 2023.

There are no page requirements or formatting requirements for senior essays in economics. Advice regarding bibliographies, graphs, etc. should be given by your advisor. Generally, essays run about 30 pages.

Senior essay writers may receive a maximum of $500 for legitimate research expenses, provided the student has made a good-faith effort to obtain funding from Yale College. There are many funding opportunities available for research which can be found here: https://funding.yale.edu/find-funding/class-year#toc2 . Funding requests are reviewed on a case-by-case basis and must be approved by the DUS and Chair.

NOTE: Students must take two econometrics courses (or ECON 135 plus one econometrics course) in order to write a senior essay. The second econometrics course can be taken Cr/D/F for the purposes of the senior essay (but in this case it will not count toward the major requirements). The second econometrics course can be taken in the fall of senior year.

• Undergraduate Program
• Requirements
• Courses Taken Outside of Yale
• Related Course Credit
• Double Majors
• Forms and Documents
• Frequently Asked Questions
• Opportunities
• Peer Mentors
• Student Resources
• Women in Economics

Senior essays can be 1-term or 2-term essays. The difference between a 1-term and a 2-term essay is that the 2-term essay is broader in scope and/or goes in greater depth. Most economics majors do 2-term essays.

Senior essays can be done in one of several ways:

1-Term Essays

• Enroll in Econ 491a in the fall of your senior year.
• Expand a term paper from a fall-term seminar in your senior year ( depends on availability of seminar instructor )
• Please note that a 1-term essay cannot be done in the spring term of your senior year.

2-Term Essays

• Enroll in Econ 491a and Econ 492b
• Expand a term paper from a fall-term seminar in your senior year and enroll in Econ 492b ( depends on availability of seminar instructor for both semesters )

For the class of 2024

• Enroll in Econ 491a ( not necessary if you are doing a senior essay out of a fall seminar)
• Choose an advisor and a topic. You should refer to the Potential Advisors webpage for help finding an advisor who is available and is appropriate for your topic. If you have difficulty finding an advisor, see the ECON 491 instructor or the DUS for suggestions. There are many economics faculty members who may be ideal advisors for your topic.  Students may also choose a campus economist from outside of the department. (Permission of the DUS required to choose a non-economist adviser.) In order to do an essay out of a fall seminar, you need the seminar professor to agree to be your advisor (for both semesters in the case of a 2-term essay).
• Meet with your advisor regularly. It is the student’s responsibility to make sure that these regular meetings occur.
• Submit a “Senior Essay Prospectus” on or before Monday, October 2, 2023 by 4:30 pm. The prospectus must be signed by your advisor. All students planning to write a senior essay must hand in a prospectus at this time. Failure to do so results in your not being permitted to write an essay. A late prospectus will not be accepted without a Dean’s note.
• Students enrolled in a 2-term essay must submit a written progress report to their advisor on Wednesday, November 8, 2023. For essays involving substantial data collection and statistical analysis, a description of the research question and the data that has been gathered for analysis may be appropriate. For others, a portion of the essay itself or a detailed outline describing the thesis question, existing literature, and planned method of analysis is suitable. Based on this report, your advisor will be asked to give you a temporary grade of satisfactory or not satisfactory for the fall term. This temporary grade will be replaced by the final grade on your senior essay in April.
• You are allowed to switch advisor, with DUS permission, but no later than the progress report due date . In this case you need to submit a new prospectus form signed by the new advisor by the progress report due date .
• A student who wishes to change a 1-term essay to a 2-term essay must get permission from the advisor and the DUS prior to the Thanksgiving break. To convert, a student must have made satisfactory progress on the essay by that time. No conversions will be allowed after Thanksgiving.
• 1-term senior essays are due to your advisor on Wednesday, December 6, 2023 by 4:30 pm. For students doing a 1-term essay by enrolling in Econ 491a, the advisor will evaluate and grade the paper, which will be your grade for the course. For students doing a 1-term essay out of a seminar, the advisor will evaluate and grade the paper, but the essay grade will not appear on your transcript. The grade and evaluation will be used for determination of distinction and departmental prizes. A final version of the 1-term senior essay must be submitted on or before Wednesday, April 3, 2024 by 4:30 pm via email to Dan Rehberg, Interim Undergraduate Registrar, at [email protected] for grading by the outside anonymous reader. Late essays will not be accepted without a Dean’s Extension. (Note: students doing the 1-term essay may continue to make additional revisions beyond the fall term before the April due date. Please bear in mind, however, that advisors of 1-term essays may have other commitments and are not obligated to advise you beyond the fall term.)

Spring 2024

• For students doing 2-term essays, enroll in Econ 492b.
• 2-term senior essays must be submitted on or before Wednesday, April 3, 2024 at 4:30 pm via email to Dan Rehberg, Interim Undergraduate Registrar, at [email protected] . Late essays will not be accepted without a Dean’s Extension.
• Advisor’s Reports with grades and comments and Reader’s Reports with grades and comments are usually available by the end of reading week in the Economics Undergraduate Registrar’s Office.

Hi Juniors, If you are reading this guide, this means (we hope) that you’re considering writing a senior essay in economics! Writing an economics thesis is an incredibly fulfilling experience, and we hope that if you feel prepared, you write one! To help clarify the process and give advice, the Economics Peer Mentors from the 2022-2023 academic year have made an updated version of this guide from the Class of 2021 that was created by Alya Ahmed and Lara Varela Gajewski, with responses from the Class of 2023.

Link to Class of 2023 Guide

Best of luck, Sarah Moon ‘23, Economics & Mathematics Ayumi Sudo ‘23, Economics

Some Takeaways: 

Most seniors, including all seniors that responded to our survey, wrote a two-term thesis. 

Seniors wrote essays on topics in:

• Labor economics
• Macroeconomics
• Econometrics
• Behavioral economics
• Public economics 
• Environmental economics
• ...and more 

Advisors were chosen from: 

• Herb Scarf RA and Tobin RA positions
• Classes taken in junior year or in the fall semester senior seminars
• Recommended by other professors/ECON 491 TA's
• Cold emailing

Econ thesis advisors are from:

• Yale Economics Department
• Yale School of Management 
• Yale School of Environment
• ...and more

Topics were inspired by: 

• Personal interests 
• Previously taken classes
• Summer research work
• Interesting data sets

Economics 491 counts as a 400 level, senior requirement course. Economics 492 counts as an elective.

Students writing a one-semester essay out of Economics 491 will receive a letter grade at the end of the fall semester based on the quality of their senior thesis. Students writing a one-semester essay out of a senior seminar will only receive a grade for the seminar on their transcript. They will not see their senior essay grade on their transcript, but it will be recorded by the department for distinction purposes. Students writing a two-semester essay by taking 491 and 492, will receive a temporary 491 grade (Satisfactory/Unsatisfactory) at the end of the fall semester. That grade will be replaced by a letter grade given for 491 and 492 based on the quality of the senior essay. Students who write a two-semester essay by taking a seminar and then 492 will receive a grade based on the requirements of the seminar in the fall. In the spring they will receive a grade for 492 based on the quality of the senior essay. Your senior essay will be graded by your advisor.

To qualify for distinction, a senior must receive a grade of A or A- from their advisor on the senior essay and have 3/4 of their economics grades be A’s or A-’s. For the purpose of distinction economics grades include related course credit, but do not include introductory microeconomics, introductory macroeconomics, the math requirement nor courses taken outside of Yale.

Senior Essay Course Lecturer:

Rebecca Toseland will be the Fall 2023 lecturer for The Senior Essay (Econ 491a) course.

Lecturer and TF office hours are by appointment only. Schedule a time on office hours sign-up sheet below.

Senior Essay TF:

Ken Jung will be the Fall 2023 TF for The Senior Essay (Econ 491a) course.

Office Hours Sign-up Sheet

Lecturer and TF office hours are by appointment only. Schedule a time on this sign-up sheet (must be signed-in with Eli Apps to view and edit).

If you would like to request an appointment at a different time, please email the Lecturer or TF.

Senior Essay Prizes

Essays will also be read by an anonymous economics department faculty member. Only the advisor’s grade will appear on the transcript. However, both the advisor and the anonymous readers must nominate an essay for that essay to move on to the awards committee.

Three or more prizes for outstanding senior essays are awarded each year by the economics undergraduate prize committee. The  Charles Heber Dickerman Memorial Prize  is awarded for the best senior essay; the  Ronald Meltzer/Cornelia Awdziewicz Economic Award  is awarded for one or two more outstanding senior essays and the  Ellington Prize  is awarded for one or more outstanding essays in the field of finance.

Senior Essays Nominated for Prizes

Women in Economics 2021 Senior Thesis Spotlight

Home / Essay Samples / Economics

Essays on Economics

An economics essay could focus on any of the following fields: agriculture, industry, services, the financial sector, trade, stock exchange. It could also investigate the factors underlying economic development for individual nations and evaluate the prospects of economic flourishing. It could focus on various businesses, companies, corporations and analyze their reports, operations, accounting data. Last but not least, such an essay could also explore what it is like to study economics during higher education and what career paths it opens. A healthy economy is the engine of good infrastructure, generous social welfare, high-quality healthcare, and education, all of which are prerequisites of a high standard of living. All these justify the study of economics with all its sub-fields.

Industrialization and Urbanization: the Transformative Journey of Societies

Industrialization and urbanization have played pivotal roles in shaping the course of human history, dramatically altering the social, economic, and cultural landscapes of nations. This essay delves into the profound impact of industrialization and urbanization, exploring their interconnectedness, challenges, and the enduring legacy they leave...

Organic Farming Vs. Conventional Farming: a Comparative Analysis

Modern agriculture has evolved over the years, giving rise to two prominent approaches: organic farming and conventional farming. These two methods represent different philosophies and practices in agricultural production, each with its own set of benefits and challenges. In this essay, we will explore the...

Capitalism and Inequality: a Complex Relationship

In the landscape of economic systems, capitalism stands tall as a defining pillar of modern society. Rooted in private ownership, free markets, and individual entrepreneurship, capitalism has propelled nations toward prosperity and progress. However, this intricate economic tapestry is also interwoven with concerns of inequality,...

Spiritualism Vs Materialism: a Comparative Analysis

The philosophical debate between spiritualism and materialism has been a topic of contemplation for centuries, as individuals seek to understand the nature of reality and the essence of human existence. This essay delves into the fundamental concepts of spiritualism and materialism, examining their differences, implications,...

Eliminating Pennies: Examining the Debate

The ongoing debate over whether pennies should be eliminated from currency circulation is a topic that raises questions about practicality, economics, and historical significance. This essay delves into the arguments for and against the elimination of pennies, considering factors such as production costs, transaction efficiency,...

My Ambition to Pursue a Career in Real Estate

Real estate is a dynamic and lucrative industry that has always fascinated me. As a specialist in the subject, I have come to appreciate the numerous opportunities and rewards that come with being a real estate agent. In this essay, I will outline the reasons...

Understanding the Dynamics of an Economic Crisis

An economic crisis is a severe and prolonged downturn in the economy of a country or region, characterized by a sharp decline in economic activity, widespread unemployment, and financial instability. It is a situation that disrupts the normal functioning of an economy and can have...

Philippine Economic Crisis: Unveiling Realities

The Philippines has faced several economic crises throughout its history, each presenting unique challenges and implications for the nation's growth and development. This essay will explore the causes of economic crises in the Philippines, their impact on various sectors, and the measures taken to address...

The Global Economic Crisis: Ripples and Repercussions

A global economic crisis is a daunting and far-reaching event that brings severe downturns in the world's economic activity, affecting numerous countries and industries simultaneously. In this essay, we will delve into the defining features of a global economic crisis, its underlying causes, and the...

Effects of War on Economy

War has a profound impact on the economy of any nation involved. The economic consequences of war can be far-reaching and long-lasting, affecting various sectors and aspects of a country's financial well-being. In this essay, we will explore the effects of war on the economy...

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• Industrialization
• World Economy
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• Materialism
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• Opportunity Cost
• Penny Debate
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• Supply and Demand
• Universal Basic Income
• Wealth of Nation

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