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economics university essay

Economics Essay Examples

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Ace Your Essay With Our Economics Essay Examples

Published on: Jun 6, 2023

Last updated on: Jan 31, 2024

economics essay examples

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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.

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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

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 led to a rise in the demand for skilled workers in many sectors. As countries integrate into the global economy, they become more specialized and engage in activities that utilize their comparative advantages. This shift toward skill-intensive industries increases the demand for skilled labor, resulting in a skill premium where high-skilled workers earn higher wages compared to low-skilled workers. Consequently, income inequality may widen as those with the necessary skills benefit from globalization while those without face limited employment opportunities and stagnant wages.


Globalization has also led to labor market displacement and job polarization. Developing countries, attracted by lower labor costs, have become manufacturing hubs, leading to job losses in industries that cannot compete internationally. This displacement primarily affects low-skilled workers in developed economies. Moreover, advancements in technology and automation have further contributed to job polarization, where middle-skilled jobs are declining while high-skilled and low-skilled jobs expand. This trend exacerbates income inequality as middle-income earners face challenges in finding stable employment opportunities.


To address the implications of globalization on income inequality, policymakers can implement several strategies. Firstly, investing in education and skills development is crucial. By equipping individuals with the necessary skills for the evolving labor market, governments can reduce the skill gap and provide opportunities for upward mobility. Additionally, redistributive policies, such as progressive taxation and social welfare programs, can help mitigate income inequality by ensuring a more equitable distribution of resources. Furthermore, fostering inclusive growth and promoting entrepreneurship can create job opportunities and reduce dependency on traditional sectors vulnerable to globalization.

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 can correct market failures that arise due to externalities, public goods, and imperfect competition. Externalities, such as pollution, can lead to inefficiencies as costs or benefits are not fully accounted for by market participants. By imposing regulations or taxes, the government can internalize these external costs and incentivize firms to adopt more socially responsible practices. Additionally, the provision of public goods, which are non-excludable and non-rivalrous, often requires government intervention as private markets may under provide them. By supplying public goods like infrastructure or national defense, the government ensures efficient allocation and benefits for society.


Information asymmetry, where one party has more information than another, can hinder market efficiency. This is particularly evident in markets with complex products or services, such as healthcare or financial services. Government intervention through regulations and oversight can enhance transparency, consumer protection, and market efficiency. For example, regulations that require companies to disclose accurate and standardized information empower consumers to make informed choices. Similarly, regulatory bodies in financial markets can enforce rules to mitigate risks and ensure fair and transparent transactions, promoting market efficiency.


While government intervention can address market failures, it can also create unintended consequences and distortions. Excessive regulations, price controls, or subsidies can result in inefficiencies and unintended outcomes. For instance, price ceilings may lead to shortages, while price floors can create surpluses. Moreover, government interventions can stifle innovation and competition by reducing incentives for private firms to invest and grow. Policymakers need to carefully design interventions to strike a balance between correcting market failures and avoiding excessive interference that hampers market efficiency.

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.

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: 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 129,782 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

Step 1 Read the question carefully.

  • 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

Step 2 Research the topic thoroughly

  • 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.

Step 4 Plan out your content.

  • 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.

Step 5 Think about your...

  • 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

Step 1 Write the introduction...

  • What your essay is about.
  • What material you will cover in the essay.
  • What your argument is. [3] X Research source

Step 2 Outline your argument.

  • 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.

Step 3 Write the body of the essay.

  • 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

Step 4 Provide evidence for your argument.

  • 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.

Step 5 Write the conclusion...

  • 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

Step 1 Check for divergences away from the question.

  • 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.

Step 2 Assess the quality and depth of your argument.

  • 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.

Step 3 Check spelling, grammar and style.

  • 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

Step 4 Check your referencing and bibliography.

  • 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

Community Answer

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  • ↑ 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

Emily Listmann, MA

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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The Impact of High Gasoline Prices on Various Fields

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Analysis of Current Changes Affecting the Fashion Industry

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Analysis of the Controversy Surrounding Military Spending

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Breaking the Cycle: Exploring the Interplay of Poverty, Education, and Corruption

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Exploring the Importance and Benefits of the Infrastructure Industry

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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

economics university essay

How to Write an Economics Essay: Key Steps for Writing

economics university essay

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:

How to Choose an Economics Essay Topic

  • 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:

economics university essay

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."

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economics university essay

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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economics university essay

What is an economics personal statement?

An economics personal statement should describe your motivations for wanting to study this subject. It tells the university who you are and why you will make a great economics candidate. Whether you're applying for an undergraduate or postgraduate course, it's crucial you present yourself in the best possible light to convince admissions tutors you will be a valuable asset to their department.

Your economics personal statement will be used by universities to decide whether you are a good student to study economics, and whether they want to offer you a place on their course.

How do I write an economics personal statement?

We recommend you start your economics personal statement by jotting down some ideas about your skills, experience, hobbies/extracurricular activities, strengths and ambitions for the future. Our personal statement template can help you structure your thoughts into coherent and concise paragraphs.

Start early and give yourself plenty of time to re-draft your economics statement, and proofread it for spelling and grammar. You will need to go through at least three or four revisions before you have a final, polished draft.

Once you're happy with it, make sure you check it for spelling and grammar (don't just rely on Spellchecker for this). Get someone else to read through it if you're worried you might miss something. You can then think about pasting it into your UCAS form, ready to send off.

What should I include in my economics personal statement?

  • Be specific and try to give examples of your problem-solving and analytical skills, both of which are important in an economics degree.
  • If you’re applying for a joint honours, e.g. economics and maths , then tailor your statement so you relate it to both of these subjects.
  • A business management and economics personal statement might mention a role of responsibility, such as leader of your student debating society or head boy/girl at your sixth form. Or for an economics and finance personal statement , you could mention managing money at your Saturday job.
  • Any hobbies or other activities you are involved in outside of school should always be linked to your economics course. If you don't feel something is relevant, then don't mention it - remember you only have a limited space of 4,000 characters, so every word has to earn its place. Our personal statement length checker can help you with this.
  • Round off by talking about your career plans and any other ambitions you have for the future. Mention how your economics degree is going to help you achieve this.

How do I write the introduction for my economics personal statement?

Your introduction should pick out one or two aspects of economics that you particularly enjoy or are passionate about. For example, you might talk about your interest in current affairs and world development, and include one or two situations that made you want to study economics in more detail. This could be anything from a fiscal decision made by the Bank of England, or a how a civil war in another country has affected their levels of income.

By starting with an anecdote, or a specific situation you've read about or experienced, you will have a better chance of drawing the reader in, and making them want to finish reading your personal statement.

Whatever you choose to open with, it should be reflective and persuade the admissions tutors that this is the only subject you want to go on to study at university.

Economics personal statement introduction example

To help demonstrate what you should include in your opening paragraph, take a look at this great example below, where the writer uses their experience of growing up in a poor country where wealth was unevenly distributed as a catalyst for developing their interest in economics:

"Being born and brought up in a country where an uneven distribution of income is a norm, the poor live on a minimum wage of Rupees 115 a day, whilst the billionaires form the sixth largest group in the world. This vast contrast between the rich and the poor has always intrigued me and I have often questioned how this economy India, functions with such instability and chaos."

Here is another good example from another student, who talks about how their studies of the Great Depression ignited their appreciation for economics:

"Studying the Great Depression in the USA in 1929 for my extended project is when I started to fully appreciate my interest in economics. Being able to analyse and argue the issues within my extended project and relate it to the current economic crisis has awakened my passion for the subject further, especially as this subject is covered extensively in the news and media. This shows that economics is an essential factor of our society. Studying this subject in university will equip me with the knowledge to understand the economy thoroughly. "

Hopefully these examples will inspire you to write your own introduction for your economics statement that will grab the reader's attention and make the admissions tutors want to offer you a place on their course.

How do I write a conclusion for my economics personal statement?

Your conclusion should encompass where you hope your economics degree to take you, and what you hope to achieve in the future. This might include your career ambitions, or moving on to a postgraduate course to further enhance your education.

You may also wish to reiterate why are enthusiastic about applying for an economics degree, and why you think you will be a good student for this particular course.

Don't round off your statement with something vague, or by repeating something you've already mentioned elsewhere in your UCAS application. You only have 47 lines of space in which to sell yourself to the admissions tutors, so don't waste it!

Economics personal statement conclusion example

To help you write your concluding paragrapgh, take a look at this example below, where the writer talks about using the knowledge they will gain in real life situations, and how they enjoy learning about the effects of economics on a daily basis:

"I am very passionate about studying economics because I look forward to developing my current knowledge, and applying it to real life situations. I believe my desire to keep in touch with today’s economics is what will allow me to thrive in higher education."

This writer chooses to talk about applying for a Masters program once they complete their degree, and taking up internships during their summer break to gain more work experience:

"My aspirations upon graduation from University would be to advance my studies in a similarly themed Masters program or work in international development. I plan on taking internships throughout the summer breaks to gain more work experience and help me fund my student lifestyle. I am looking forward to learning and developing in various economic subjects and am excited about the opportunities that I’ll have both as a student and once I graduate."

Hopefully these two examples will help you write your own conclusion for your economics personal statement, and round it off in a way that will make it stand out from the crowd.

For more help and advice on what to write in your economics personal statement, please see:

  • Personal Statement Editing Services
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  • The 15th January UCAS Deadline: 4 Ways To Avoid Missing It
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  • What To Do If You Miss The 15th January UCAS Deadline.

What can I do with an economics degree?

There are many different options for those choosing to pursue an economics degree. These include:

  • business analyst
  • financial consultant
  • investment analyst .

However, there are also many other career paths where an economics degree could be useful, such as:

  • data scientist
  • economic development officer
  • quantity surveyor .

For more advice on what you can do with your economics degree, please visit TopUniversities and Prospects .

What are the best UK universities for economics?

Currently, the best UK universities to study economics at for 2023 are:

1.
2.
3.
4.    
5.
6.
7.
8.
9.  
10.

For more information on UK university rankings for economics, please see The Complete University Guide and The Telegraph.

Further resources

For more information and advice on economics degrees and careers, please see the following:

  • 9 Economics Degree Jobs
  • Careers in Economics - LSE
  • 10 Jobs for Graduates With An Economics Degree
  • What jobs can you get with an Economics degree in the UK?
  • Economics - Career Pilot
  • What to do with an Economics degree - Bright Network

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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

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

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Writing for Economics

Up: Economics Network > Writing for Economics

Essay writing

The idea of setting essays is to offer you the chance to make a longer, more complex argument. Nonetheless, in the model we recommend, the fundamentals remain the same. In each paragraph, a flow of main idea (thesis) — explanation / reasoning (justification) — evidence / example (support) is an excellent structure to use. If you read through academic writing, you will find this structure over and over. The same is true for professional writing. There are of course other structures, however this one always works and makes you sound concise and clear.

An essay has conventional sections that it is wise to follow. These are an introduction, main body and a conclusion. The 'LSE' essay structure can be described as 'say what you're going to say (intro), say it in detail (main body), say what you've said (conclusion)'. Although this may appear repetitive, it offers the reader great clarity. Also, if you think about the executive summary, background, analysis and conclusions / recommendations sections of a business report, you can see that a similar structure holds.

In your essay, try to follow this structure for your essay sections.

        Statement about the context of the question — explain why the question in important (either in the 'real' world or for the discipline of economics)

        Give your answer to the question

        Summarise your argument in support of this answer — this summary should match the order of your paragraphs

        Decide on the most logical order of your paragraphs — this might be importance, chronology or causation, but the basic flow should be simple and clear

Start each paragraph with a sentence that clearly addresses the question itself — this will be your thesis for the paragraph and if a reader only read these opening sentences, they should make sense one after the other and provide a summary of your argument Follow the opening 'topic' sentence with your reasoning and evidence for why this opening statement is valid. Be specific, not general. The more detail you can bring in, the more expert you will sound and the more persuasive your argument will be

Conclusion Summarise your argument again — as you did in the intro (different words though!)

        Restate your answer to the essay question

        So what? — say what the significance of your answer is either in the 'real' world or to the discipline of economics

Bibliography

        List the books / articles you read while researching your answer

Below you'll find two essays written by students last year. Bearing the above in mind, decide which one makes the clearer argument and which, therefore, got the higher mark.

In the year 2000, there were auctions of spectrum rights for third generation mobile telephones in several European countries. These auctions generated very different amount of revenue in different countries. How can this be explained?

Auction theory as a very useful brunch of game theory is of the great interest of modern economists. Among other reasons of its popularity stands direct importance of its ideas to modern businesses and governments. Nowadays any business sector is more or less competitive, which requires all it's participants to be dynamic and creative. Modernization and expansion is a vital part of modern business world. Governments, as owners of resources that allow businesses to expand and modernize, are always ready to sell those resources as it will eventually help businesses and certainly bring revenues.

The best way for government to sell available resources is to declare an auction. That's where auction theory comes into play. Modern auction theory is a very powerful tool for designing auctions of very profitable kind. Proper auction design will rise maximum amount of money for the government and provide companies with resources they need. However actions that maximize profits for the government have a direct influence also on the life of the citizens, as Dixit puts it: "...because of significant contributions the budget, auctions affect important macroeconomic magnitudes, such as interest rates".

So, auctions held by government, and to be more specific properly designed actions directly influence the life of modern country. In this essay I would like to make a kind of short review of auctions of spectrum rights for third generation mobile phones held in Europe in year 2000. The peculiarity of these auctions lies in the fact that revenues that were generated by European governments are different as a result of differently designed actions they held. This fact allows as to trace features of the auctions that were successful and resulted in relatively high revenues for the government.

There were 6 European countries to held spectrum right auctions in 2000. They were: United Kingdom, Austria, Germany, Italy, Netherlands and Switzerland. Let's start with United Kingdom as it was the first country to hold such kind of auctions.

Strategy that United Kingdom had chosen was selling 5 licenses during classical ascending auction. Auction resulted in huge revenues: 650 euros per capita. Firstly it should be said that auctions as any normal business activity should be competitive in order to be effective. UK spectrum auction was relatively competitive attracting 13 participants. There are several reasons why this action attracted so many participants. Firstly, UK was the first country in the world to hold spectrum rights auction. Participants were not completely aware of the usefulness of 3G cell phones, but were eager to get competitive advantage in the new generation mobile communication technology. Secondly, UK sold 5 licenses to the market with 4 major phone operators. This fact attracted new entrants, since at least one of the licenses can be potentially won by new entrants to the market. Both this facts generated highly competitive auction environment and limited possible collusions. Result of the auction was a huge success for UK government.

The next country to run spectrum rights auction in 2000 was Netherlands. This auction raised 170 euros per capita. Reason of such flop, comparing to the British result was lack of competition. When auction were run there were 5 major phone operators for 5 licenses to be sold. Few entrants decided to participate in the auction, since everybody was sure that 5 licenses will be distributed among market leaders. Another factor that made things even worse was the fact that that was an ascending auction. In this case with few participants there is a risk of collusion among market leaders. Netherlands would have generated much more money if they would some how encourage competition and change the action design in such a way that it would be possible for participants other than market leaders to place bids independently of each other to reduce collusion (sealed bid).

Italy generated 240 euros per capita and attracted 6 participants. Italy intentionally reduced amount of participants by imposing a requirements that participant of the auction must satisfy. Such situation combined with the fact that Italian auction was ascending could result in possible collusions among competitors. As a result wrong auction design resulted in low revenues.

Swiss auction was a real flop. They generated only 20 euros per capita. Here amount of participants was also artificially limited by allowing participants to join into the groups. And the price that government accepts was also reduced for some reason. Number of participants was sufficient to run profitable auction, but combination of officially permitted collusions and low reserve price resulted in absolutely insufficient revenues.

German and Austrian auctions were similar. Number of participants in both countries' auctions was low, which means that there were risks of collusion. Both countries sold licenses in blocks, allowing "number of winners be determined by bidders". Additionally Austrian government set a very low reserve price. Germany and Austria generated 615 and 100 euros per capita in revenue respectively. Germany designed auction in such a way that bids of two main market players were rationalized in a way that it resulted in high revenues.

Generally, the main difference in revenues generated from spectrum rights auctions can be explained by the difference in chosen auction design. Different auction design results in different amounts of money in revenues. Countries that tried to facilitate competitive bidding and limited the possibilities of collusion enjoyed high revenues.

Klemperer say that what really matters in auction design is "robustness against collusion and attractiveness to entry". Exactly the combination or lack of one of this factors resulted in the difference in the revenues generated by European countries. Any country that wants to increase revenues from auction must try to facilitate the competition among bidders by trying to make participation in auction as attractive as possible and eliminating any barriers for participation. There should be no cooperation between participants, as it will result in lower bids and as a consequence in low revenues. Countries should not choose auction design that facilitates collusion, as ascending auction in our case.

Of course there are several other reasons for difference in revenues, among them there is a fact that UK as a country that run the first spectrum rights auction in the world, might have enjoyed high revenues simply because participants were new to the licenses and had no idea of their true value. Overall economic situations in the counties as well as political might also result in differences in revenues. But the main reason for difference in profitability of the spectrum licenses auctions is difference in auction designs which were effective in some countries and not in the others.

BIBLIOGRAPHY

A.K. Dixit and S. Skeath, Games of Strategy , 2nd edition, Norton, 2004

Paul Klemperer, Auctions: Theory and Practice Electronic version of book on http://www.paulklemperer.org/index.htm

In the year 2000, European auctions of 3G mobile telecommunication licenses raised over 100 billion euros in government revenues. The countries that participated were United Kingdom, Netherlands, Italy, Switzerland, Germany and Austria. There was a big differential between revenues raised in each country with United Kingdom leading at 650 euros per capita and Switzerland coming in last at 20 euros per capita. The reasons for this big discrepancy in revenues is likely due to poor auction designs and the sequence in which the auctions took place.

When it comes to auction design, the two crucial components are attracting entry and preventing collusion. Ascending auctions encourage bidders to act collusively and deter weaker potential bidders as they know that the stronger bidder will always out bid him. On the other hand, (first-price) sealed-bid auctions act in the opposite direction from ascending auctions. It does not give bidders a chance to collude and encourages weaker bidders to participate. However, the disadvantage of using a sealed-bid auction is that it is more likely to lead to inefficient results than an ascending auction. The reason for this is that sometimes bidders with a lower value may beat opponents with a higher value. Hence, there is no perfect auction design and they must be customized to suit different environments and targets.

United Kingdom was the first to hold the auctions and they are a good example of how a well-planned auction design and good marketing strategies can lead to a favourable outcome. As there were five licenses and 4 incumbents, they had an ascending auction. To prevent collusion, each license could not be shared and each bidder was allowed no more than one license. Also, the fact that at least one license was available to new entrants lead to fierce competition from nine new entrants. To top it all off, UK had a solid marketing strategy which was planned over three years (1997 - 2000). All this helped contribute to UK raising 39 billion euros and being the most successful out of all the countries that took part in the 3G auctions.

Netherlands, Italy and Switzerland made the mistake of following UK and carrying out an ascending auction when a sealed-bid auction would have served them better. This resulted in revenues less than that achieved by UK.

In the case of Netherlands, they had five licenses and five incumbents. This deterred new entrants as well as facilitated collusion. For example, Deutsche Telekom colluded with local incumbents to bid for a 3G license. A sealed-bid would have worked better as this would have discouraged joint bidding, raise higher revenues as well as give new entrants a glimmer of hope.

Italy had their auction next but failed to learn from Netherlands and UK. Their auction design was not robust and failed to adapt to the environment in Italy. They adopted the UK design but had the additional rule that if bidders did not exceed licenses, the number of licenses would be reduced. They did not realize that having one more bidder than license does not assure that the outcome will be competitive. Also, Italy had failed to anticipate that firms would react differently to those in Netherlands and UK as they now had more information. Hence, weaker bidders were discouraged by previous auctions and did not bother to participate and since the participation rate was low, it made it easier for the strong bidders to collude. A bad auction design that was not tailored to the Italian environment and a low reserve price resulted in Italy only earning less than 25 billion euros.

Switzerland was the most unsuccessful amongst all the countries that held the auctions. It raised only 20 euros per capita in its ascending auction and this can be attributed to an unfeasible auction design, badly formulated rules and an absurdly low reserve price. Since the beginning, weaker bidders were deterred by the auction form. They felt that they did not stand a chance against the strong bidders and hence did not bother participating. This resulted in little competition. Furthermore, The Swiss government committed auction suicide when they permitted last-minute joint-bidding! This resulted in nine bidders colluding to become just four. The last mistake that the Swiss government made was to set a reserve price that was way too low. Since there were four licenses and four bidders, bidders ended up paying only the reserve price.

Germany and Austria chose a more complicated auction design.

Germany's auction design was an ascending auction of twelve blocks of spectrum from which bidders could create four three-block licenses or six two-block licenses. Germany's auction design was very susceptible to collusion and deterring new entrants but they were lucky and managed to earn high revenues.

Austria, on the other hand, adopted Germany's auction design but was not so lucky and only earned 100 euros per capita. The reason for this was that there were 6 bidders competing for 12 blocks of spectrum and a very low reserve price (one-eight of the reserve price in Germany). So instead of trying to get three blocks of spectrum, the bidders divided the 12 blocks of spectrum equally and paid the reserve price. This reason lead to Austria earning less per capita revenue than UK and Germany.

The other factor that affected the amount of revenue earned by each country was the sequence in which the auctions took place. Looking at the results of the 3G auctions held in 2000, it can be seen that the most successful auctions were the first of their type (United Kingdom and Germany). The reason for this is that between auctions, bidders learnt from previous auctions, came up with new strategies and learnt more about their rivals. However, the auction designs remained almost the same and were unable to keep up with the new ideas the bidders had come up with. This resulted in the later auctions not being as successful as the first.

In conclusion, the reason for the different revenues earned amongst the countries that took part in the 3G auctions is due to the auction designs and the sequence in which they took place. Revenues depend on how well the auction design is able to attract entry and prevent collusion. Also, it has to be able to adapt to new environments. For example, a good auction design takes into account the information bidders have and the knowledge they have gained from previous auctions. A sensible reserve price is of high importance as well and should not be overlooked like in the case of Switzerland and Germany. Lastly, auction design is not "one size fits all" and the failure of the government to design an auction that suited the country's environment lead to different revenues being earned.

References:

A.K. Dixit and S.Skeath, Games of Strategy, 2 nd edition, Norton, 2004

Professor Kenneth Binmore, "Economic Theory Sometimes Works"

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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Economics Essay Topics: 162 Practical Ideas & Useful Tips

economics university essay

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.

The skills developed through studying economics are incredibly versatile.

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.

World trade is expected to fall due to the Coronavirus pandemic.

  • 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.

Technological and political changes have chipped away at the barriers separating nations.

  • 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 Syrian refugee crisis increased the risks of child labor in Turkey.

  • 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.

Discuss the football club of Arsenal.

  • 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.

Health has become a dominant economic and political issue over the past years.

  • 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.

Modern-day trafficking of humans has become more rewarding for traffickers due to 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?

Renaissance Europe had a very diverse economy.

  • 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.

An economic essay usually relies on the common essay structure.

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.

Create a reference list at the bottom of your economic essay if you referred to sources.

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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Harvard international economics essay competition, description.

The 2023 Harvard International Economics Essay Contest is sponsored by the Harvard Undergraduate Economics Association (HUEA) in conjunction with the Harvard College Economics Review (HCER). This essay competition is open to high school students of any year and is a fantastic opportunity to demonstrate an accomplished level of writing and understanding of economic theory. Through the contest, student competitors hone their academic and professional skills and exhibit their knowledge to future employers and academic programs.  Competitors must construct a convincing argument using economic theory and real-world examples.  Winning essays will be published in the Harvard Economics Review and will be available for the greater Harvard community to read. Essays should focus on argumentation supported with facts and references, although data-based support is also welcome.

Why I Majored in Economics

Cameron greene '25.

Cameron Greene headshot

I arrived at Yale thinking I would major in Ethics, Politics, and Economics and eventually attend law school. I took coursework in Directed Studies, Russian language, and political theory.

Taking intro microeconomics in the summer before sophomore year with Professor Koker, I enjoyed learning about the behavior of rational agents, such as the need to weigh opportunity costs. The economist’s way of thinking resonated with me. By providing new motivation, economics rekindled my love of math. Since sophomore year I have worked as an economic research assistant through the Tobin program and individual hires in the School of Management, Jackson School, and ISPS. Junior year, I switched to the Economics major for the opportunities to work more closely with economics faculty and to take more quantitative economics coursework.

The community is intimate. It is easy to find classmates to work on psets with. I have discovered new interests through the structure of the major and the research interests of faculty. Entering my senior year, I am looking forward to the challenge of writing my thesis. I am grateful for the support I have received from faculty mentors.

Marcella Villagomez '24

Headshot of Marcella Villagomez

When I got to Yale, I planned to major in Computer Science and Economics. I knew I wanted to explore and develop empirical models and understand their implications.

I decided on switching to just Economics at the end of my Sophomore year. I found a deep interest in the high-level programming required of econometrics, and found that there were a multitude of careers I could pursue within that realm. I have always found an interest in Economics due to its unique ability to bring together the quantitative (via modeling) and the qualitative (consistently diving into why the model appears the way it does).

I have thoroughly appreciated my experience within the major. Given that there are relatively few major requirements, I had the opportunity to explore so many different applications within the real-world, such as trade, industrial organization, and healthcare.

Nicholas Trenholm '24

Headshot Nick Trenholm

In high school, I developed a very strong interest in government and politics. This led me to enter Yale planning to major in Ethics, Politics, and Economics – an interdisciplinary program that prepares you for a career in public policy.

My freshman year, I took classes in all three of the disciplines under the umbrella of the EP&E major. After completing two semesters, one thing was clear. I enjoyed my economics classes far more than the others. I loved the real world applicability, the basis in quantitative and observable fact, and the logical puzzles that economics problems present you with. Yale's economics department boasts the best faculty in the world who, while producing industry-leading research, take deep care and pride in teaching undergraduates. The department also gives students the chance to participate in and contribute to innovative research projects. I have had the opportunity to learn from such an amazing array of professors, such as William Nordhaus and Costas Meghir. With course flexibility and a wide variety of electives, you can truly make the major your own. I decided to major in economics because I am passionate about the subject and value the support given by the wonderful advisors, staff, and faculty in the department.

My experience as an economics major has been one of growth and excitement. The major's core classes provide students with an excellent foundational knowledge of economics. You will be challenged at times and rewarded for the learning experience you are taking part in. I love the freedom provided by the major so that each semester I can put together a class schedule that excites me. From game theory to personal finance, each class is an opportunity to improve your economic toolkit and engage with a new and interesting subject matter. In addition to the world-class professors, the teaching assistants and advisors in the economics department really define the major. They always go the extra mile to ensure students are having a positive, constructive learning experience. The overall economics community at Yale is supportive, collaborative, and dynamic. I would encourage all new students to explore economics at Yale.

Annie Lin '24

Annie Lin Headshot

I arrived at Yale in September 2020 planning to double major in Economics and Electrical Engineering.

I've known that Economics was my major for me since my Junior year of high school, and it was probably not for the reason why everyone else majored in Economics. I like Economics because I sucked at it - I simply could not understand how one could translate social behavior down to models and numbers on a piece of paper. I think the challenge of delving into a field so unfamiliar and knowing that I had to work harder to strengthen my knowledge and build the necessary quantitative skills drove me to enjoy the work as I began to see Economics' practical applications in real life. I worked to build my understanding of the principles of microeconomics and macroeconomics brick by brick until I had a solid foundation that allowed me to explore other fascinating areas, such as labor economics and behavioral finance, and decided that it was the major for me ever since then.

My experience as an economics major has been very fruitful, especially as a student of another STEM major (electrical engineering), I could combine complementary skills from both majors to further my understanding of underlying concepts from both majors. I've particularly enjoyed using my coding background to work on data-driven projects as a Tobin RA or creating a simple regression model for PSETs. The best part of being an Economics major is that you are hands-on with applying the theories you've learned in class to history or your own models while working with the most up-and-coming researchers in your field.

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ECONLIB Guides

What Is Economics?

What Is Economics?

Introduction

Economics is about making choices. We make all kinds of choices every day. How much should I spend on gas? What’s the best route to work? Where should we go for dinner? Which job or career should I go for? What are the pros and cons of finishing college versus taking a job or inventing the next, best Internet startup? Which roommate should take care of washing the dishes? Can I get that dog as a pet? Should I get married, have children, and if so, when? Which politician should I vote for when they all claim they can improve the economy or make my life better? What is “the economy,” anyway? What if my personal or religious principles conflict with what people tell me is in my best economic interest?

Many people hear the word “economics” and think it is all about money. Economics is not just about money. It is about weighing different choices or alternatives. Some of those important choices involve money, but most do not. Most of your daily, monthly, or life choices have nothing to do with money, yet they are still the subject of economics. For example, your decisions about whether it should be you or your roommate who should be the one to clean up or do the dishes, whether you should spend an hour a week volunteering for a worthy charity or send them a little money via your cell phone, or whether you should take a job so you can help support your siblings or parents or save for your future are all economic decisions. In many cases, money is merely a helpful tool or just a veil, standing in for a partial way to evaluate some of the goals you really care about and how you make choices about those goals.

You might also think economics is all about “economizing” or being efficient–not making foolish or wasteful choices about how you spend or budget your time and money. That is certainly part of what economics is about. However, that’s just the tip of the iceberg. We all know that we can save money or time by being more efficient in our planning. A trip to the supermarket can be coordinated with a trip to take your child to school or to deposit a check at the bank across the street to save on gas. But we sometimes don’t choose the most efficient options. Why not? Economics is also about plumbing the depths of why we sometimes do and sometimes don’t make what seem like the most economizing or economical choices.

Is economics a science (like physics), or is it a social science, or even an art? What is the difference, and what do we know about what we can’t or don’t know for now? Can economic problems be solved by better government, more experts, bigger computers, more engineering, better education, less government, more dispersed knowledge, more markets? How can we make informed choices?

You’ve probably heard that economists disagree about a lot of things. Actually, what economists disagree about is politics or public policy, not economics. Exploring the interface between politics and economics is part of the fun.

On this page are some famous, standard definitions about what economics is all about.

Definitions and Basics

Economics is the study of given ends and scarce means. Lionel Robbins , biography, from the Concise Encyclopedia of Economics :

Robbins’ most famous book was An Essay on the Nature and Significance of Economic Science , one of the best-written prose pieces in economics. That book contains three main thoughts. First is Robbins’ famous all-encompassing definition of economics that is still used to define the subject today: “Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses.”…

What is “political economy”? Chapter I, Principles of Economics , by Alfred Marshall.

Political Economy or Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing. Thus it is on the one side a study of wealth; and on the other, and more important side, a part of the study of man. For man’s character has been moulded by his every-day work, and the material resources which he thereby procures, more than by any other influence unless it be that of his religious ideals; and the two great forming agencies of the world’s history have been the religious and the economic. Here and there the ardour of the military or the artistic spirit has been for a while predominant: but religious and economic influences have nowhere been displaced from the front rank even for a time; and they have nearly always been more important than all others put together. Religious motives are more intense than economic, but their direct action seldom extends over so large a part of life. For the business by which a person earns his livelihood generally fills his thoughts during by far the greater part of those hours in which his mind is at its best; during them his character is being formed by the way in which he uses his faculties in his work, by the thoughts and the feelings which it suggests, and by his relations to his associates in work, his employers or his employees.

Isn’t economics nicknamed the “dismal science” because it is all about running out of resources and the inevitable decline of life as we know it? Who coined the phrase “the dismal science”? The Secret History of the Dismal Science: Economics, Religion, and Race in the 19th Century , by David M. Levy and Sandra J. Peart. Econlib, January 22, 2001.

Everyone knows that economics is the dismal science. And almost everyone knows that it was given this description by Thomas Carlyle, who was inspired to coin the phrase by T. R. Malthus’s gloomy prediction that population would always grow faster than food, dooming mankind to unending poverty and hardship. While this story is well-known, it is also wrong, so wrong that it is hard to imagine a story that is farther from the truth. At the most trivial level, Carlyle’s target was not Malthus, but economists such as John Stuart Mill, who argued that it was institutions, not race, that explained why some nations were rich and others poor….

Economics on One Foot , a LearnLiberty video.

Prof. Art Carden, in memory of Ayn Rand’s philosophy on one foot, presents economics on one foot.

In the News and Examples

Diane Coyle on the Soulful Science , EconTalk podcast.

Diane Coyle talks with host Russ Roberts about the ideas in her new book, The Soulful Science: What Economists Really Do and Why it Matters. The discussions starts with the issue of growth–measurement issues and what economists have learned and have yet to learn about why some nations grow faster than others and some don’t grow at all. Subsequent topics include happiness research, the politics and economics of inequality, the role of math in economics, and policy areas where economics has made the greatest contribution….

Isn’t economics all about supply and demand? Richard McKenzie on Prices , EconTalk podcast. June 23, 2008.

Richard McKenzie of the University California, Irvine and the author of Why Popcorn Costs So Much at the Movies and Other Pricing Puzzles, talks with EconTalk host Russ Roberts about a wide range of pricing puzzles. They discuss why Southern California experiences frequent water crises, why price falls after Christmas, why popcorn seems so expensive at the movies, and the economics of price discrimination….

Isn’t economics all about Adam Smith and the invisible hand? Adam Smith: The Invisible Hand , a LearnLiberty video.

Prof. James Otteson, using the ideas of Adam Smith, explains how the division of labor is a necessary and crucial element of wealthy nations.

Don’t all economists disagree? Henderson on Disagreeable Economists . EconTalk podcast, July 30, 2007.

David Henderson, editor of the Concise Encyclopedia of Economics and a research fellow at Stanford’s Hoover Institution, talks with EconTalk host Russ Roberts about when and why economists disagree. Harry Truman longed for a one-armed economist, one willing to go out on a limb and take an unequivocal position without adding “on the other hand…”. Truman’s view is often reflected in the public’s view that economic knowledge is inherently ambiguous and that economists never agree on anything. Henderson claims that this view is wrong–that there is substantial agreement among economists on many scientific questions–while Roberts wonders whether this consensus is getting a bit frayed around the edges. The conversation highlights the challenges the everyday person faces in trying to know when and what to believe when economists take policy positions based on research. Is it biased or science?

Humorous essay. Zero-sum games like income redistribution are more exciting than economic fundamentals like the gains from trade. Why is Economics So Boring? , by Donald Cox. Econlib, November 7, 2005.

Stan: Ollie, you know the worst part about being an economist? You meet someone at a cocktail party, you tell them you teach economics. Ollie: …and they say “Oh, yeah, I took that in college. I hated it. It was sooo boring!”… … getting the credit for Equation 14 is a zero sum game. And we care about zero sum games. There’s drama. There’s tension. There’s a loser for every winner. It makes for good TV, doesn’t it? But it’s not very common in reality. What common in reality is both sides are better off. The buyer and the seller of the car in the ad. That’s reality. No violence, no theft. Boring balloons. Boring happy people. Economics is boring….

Is economics just a fuss about language? The Economy: Metaphors We (Shouldn’t) Live By , by Max Borders.

“Argument is war.” That’s what cognitive linguists George Lakoff and Mark Johnson write in the opening chapter of their influential 1980 Metaphors We Live By. In that seminal book, Lakoff and Johnson offer a number of powerful lessons about figurative language: Metaphor is more than mere literary window dressing; metaphor is a fundamental aspect of human thought and language; and metaphors help us navigate the real world with a degree of efficiency that literal language can’t offer. It can even–for better or worse–change our perceptions of things….

A Little History: Primary Sources and References

Economics is sometimes called catallarchy or catallactics, meaning the science of exchanges. Where did this term first come from? Lecture I, Introductory Lectures on Political Economy , by Richard Whately.

It is with a view to put you on your guard against prejudices thus created, (and you will meet probably with many instances of persons influenced by them,) that I have stated my objections to the name of Political-Economy. It is now, I conceive, too late to think of changing it. A. Smith, indeed, has designated his work a treatise on the “Wealth of Nations;” but this supplies a name only for the subject-matter, not for the science itself. The name I should have preferred as the most descriptive, and on the whole least objectionable, is that of CATALLACTICS, or the “Science of Exchanges.”…

Advanced Resources

Is Economics All About Scarcity? , by Arnold Kling. Blog discussion on EconLog, January 17, 2007.

… I am two-handed on this issue. On the one hand, just because food, say, has become more abundant does not mean that we can ignore scarcity. At any moment in time, for a given state of know-how, the conventional definition of economics as dealing with the allocation of scarce resources among competing ends applies. On the other hand, some of the most interesting economic observations concern relative abundance. Look at our standard of living compared to 100 years ago. Look at South Korea compared with North Korea. Robert Lucas famously said that “The consequences for human welfare involved in questions like these are simply staggering: Once one starts to think about them it is hard to think of anything else.”…

Related Topics

Is Economics a Science? Wellbeing and Welfare Scarcity Incentives Efficiency Cost-Benefit Analysis Division of Labor and Specialization Money Management and Budgeting Productive Resources Property Rights

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    aspects of economics writing that involve normal prose. It is primarily designed to help students understand how economics essays and papers are constructed and the kinds of information they usually contain. It is less helpful when it comes to such things as constructing models (although writing about models is treated in section 17).

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  4. PDF Writing Economics A Guide for Harvard Economics Concentrators

    Short Essays (4-6 pages). Short essays may require you to analyze two articles and compare their policy implications, explain a model, criticize an argument, present a case study, extend a theory, evaluate an intellectual debate, and so on. Response Papers (1-2 pages). Response papers might involve summarizing the weekly

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  6. How to Write a Good Economics Essay: 14 Steps (with Pictures)

    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. 4.

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    This guide is aimed at helping you write an effective undergraduate economics essay. The guide offers advice on identifying the target audience, on how to do the formatting and to reference ... Essentials,4 the University Language Centre,5 and the Economic Study Skills pages6 guidelines and regulations on plagiarism; plagiarism is presenting ...

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    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.

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    Economic Success and Development: China Case Analysis. At present, many growing nations give a boost to the economic development. China is a correct example. After opening reform, Chinese economic system has saved rapid development for 30 years, which has already grown to third largest economies in the world.

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  18. Senior Essay

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  19. The Young Economist's Short Guide to Writing Economic Research

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  21. Harvard International Economics Essay Competition

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  22. Why I Majored in Economics

    With course flexibility and a wide variety of electives, you can truly make the major your own. I decided to major in economics because I am passionate about the subject and value the support given by the wonderful advisors, staff, and faculty in the department. My experience as an economics major has been one of growth and excitement.

  23. What Is Economics?

    Economics is the study of given ends and scarce means. Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins' most famous book was An Essay on the Nature and Significance of Economic Science, one of the best-written prose pieces in economics. That book contains three main thoughts.

  24. Essay Guidelines: Policies, Assistance & Submission

    SCHOOL OF ECONOMICS: ECO1011S COURSE ESSAY GUIDELINE 2024 5 3. Essay Assistance a. SOE Writing Hub The School of Economics has a satellite office on Upper Campus. The office is situated in Room 3.12, Leslie Social Sciences Building, Upper Campus - SoE Writing Hub, and you will have your in-person hotseats in this venue. We will also use Microsoft Teams for online hotseats.