Economic Essay Writing Sample

Economic essay writing is really a very hard and dynamic task which seems to be quite different from other similar skill. Many students find it difficult to reflex what they have learnt from school with the real economic situation.

One of the best ways to learn the core of Economic is to learn from the past. It can be done by essay writing.  In essay, you will have question which ask you to answer. You may consider the following process to write a good economic essay:

1.      Economic Essay Writing Guide

Interpreting questions

This is the most difficult part and important of essay writing. By reading the question, you must try to understand what the author intended. Usually it is all about what you have learnt including theory and concept. So now how can you reflex what you have learnt with your answer? Do not look for an answer too fast; you better spend time with some critical thinking and other crucial tasks. Learn to argue and discuss with what you thought.

Essay Writing

Identify what type of essay it is and then use your skill to answer the question. I won’t go any further about what type it is right here (you should have learnt it even you enter economic class).

-Understanding of the theory: Again, the answer of the question covers what you have learnt so far. The question may ask you to explain a diagram how profits are eliminated in monopolistic competition in the long run. Or using the aggregate demand and aggregate supply model, explain the ‘recession’ phase of the business cycle. Discuss economic policies that might be applied in such a situation.

-Support your view: This part requires more critical thinking than the previous one. It requires you to raise your view and argue to support what you are thinking.

-Research study: Within this part, you are going to test not only the ability to answer the question but also research skill. An example of this type of question is:

            Write an essay on fiscal policy in 2004. In your essay you should consider the following points:

            -The current stance of fiscal policy

            -Reasons for recent changes in fiscal policy

            -The impact of fiscal policy on the economy

How to apply the theory

For this type of question, you need to understand the theories and know how to apply it with real economic issues.

2.      Short introduction to a standard essay answer

Standard essay writing has three simple parts. Here are the following three parts:

            -Introduction: this is the opening part of essay writing. Just as it states, you are going to introduce what you are going to say in the next main body.

            -Main body: this is the longest part. It contains the main argument and discussion.

            -Conclusion: Short but cover all the main points of main body and don’t forget to give your ideas on the topic.

3.      Example of economic essay writing

Question: Show the effect of a hot summer and the discovery of a cheaper ice cream manufacturing method on the market for ice cream. Assume the market is initially in equilibrium.

Plan:

Introduction

Effect on demand:

            Demand increase (demand curve moves to the right)

            Upward pressure on price

            Upward pressure on quality trade

Effect on supply:

            Supply increase (supply moves outward

            Downward pressure on price

            Upward pressure on quality traded

Combine shifts

Conclusion:

            Ambiguous change in price

            Quantity trade increases

Economic Essay Writing Sample