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Economics Essay Examples

Ace Your Essay With Our Economics Essay Examples

Published on: Jun 6, 2023

Last updated on: Jan 31, 2024

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

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

But don’t worry!

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

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

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What is an Economics Essay?

An economics essay is a written piece that explores economic theories, concepts, and their real-world applications. It involves analyzing economic issues, presenting arguments, and providing evidence to support ideas.

The goal of an economics essay is to demonstrate an understanding of economic principles and the ability to critically evaluate economic topics.

Why Write an Economics Essay?

Writing an economics essay serves multiple purposes:

Demonstrate Understanding: Showcasing your comprehension of economic concepts and their practical applications.
Develop Critical Thinking: Cultivating analytical skills to evaluate economic issues from different perspectives.
Apply Theory to Real-World Contexts: Bridging the gap between economic theory and real-life scenarios.
Enhance Research and Analysis Skills: Improving abilities to gather and interpret economic data.
Prepare for Academic and Professional Pursuits: Building a foundation for success in future economics-related endeavors.

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If youâre wondering, âhow do I write an economics essay?â, consulting an example essay might be a good option for you. Here are some economics essay examples:

Short Essay About Economics

Fiscal policy plays a crucial role in shaping economic conditions and promoting growth. During periods of economic downturn or recession, governments often resort to fiscal policy measures to stimulate the economy. This essay examines the significance of fiscal policy in economic stimulus, focusing on two key tools: government spending and taxation.

Government spending is a powerful instrument used to boost economic activity. When the economy experiences a slowdown, increased government expenditure can create a multiplier effect, stimulating demand and investment. By investing in infrastructure projects, education, healthcare, and other sectors, governments can create jobs, generate income, and spur private sector activity. This increased spending circulates money throughout the economy, leading to higher consumption and increased business investments. However, it is important for governments to strike a balance between short-term stimulus and long-term fiscal sustainability.

Taxation is another critical aspect of fiscal policy. During economic downturns, governments may employ tax cuts or incentives to encourage consumer spending and business investments. By reducing tax burdens on individuals and corporations, governments aim to increase disposable income and boost consumption. Lower taxes can also incentivize businesses to expand and invest in new ventures, leading to job creation and economic growth. However, it is essential for policymakers to consider the trade-off between short-term stimulus and long-term fiscal stability, ensuring that tax cuts are sustainable and do not result in excessive budget deficits.

In conclusion, fiscal policy serves as a valuable tool in stimulating economic growth and mitigating downturns. Through government spending and taxation measures, policymakers can influence aggregate demand, promote investment, and create a favorable economic environment. However, it is crucial for governments to implement these policies judiciously, considering the long-term implications and maintaining fiscal discipline. By effectively managing fiscal policy, governments can foster sustainable economic growth and improve overall welfare.

A Level Economics Essay Examples

Here is an essay on economics a level structure:

Globalization, characterized by the increasing interconnectedness of economies and societies worldwide, has brought about numerous benefits and challenges. One of the significant issues associated with globalization is its impact on income inequality. This essay explores the implications of globalization on income inequality, discussing both the positive and negative effects, and examining potential policy responses to address this issue.

Globalization has 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

Economics Extended Essay Topic Examples

Extended Essay Research Question Examples Economics

Tips for Writing an Economics Essay

Writing an economics essay requires specific expertise and skills. So, it's important to have some tips up your sleeve to make sure your essay is of high quality:

Start with a Clear Thesis Statement: It defines your essay's focus and argument. This statement should be concise, to the point, and present the crux of your essay.
Conduct Research and Gather Data: Collect facts and figures from reliable sources such as academic journals, government reports, and reputable news outlets. Use this data to support your arguments and analysis and compile a literature review.
Use Economic Theories and Models: These help you to support your arguments and provide a framework for your analysis. Make sure to clearly explain these theories and models so that the reader can follow your reasoning.
Analyze the Micro and Macro Aspects: Consider all angles of the topic. This means examining how the issue affects individuals, businesses, and the economy as a whole.
Use Real-World Examples: Practical examples and case studies help to illustrate your points. This can make your arguments more relatable and understandable.
Consider the Policy Implications: Take into account the impacts of your analysis. What are the potential solutions to the problem you're examining? How might different policies affect the outcomes you're discussing?
Use Graphs and Charts: These help to illustrate your data and analysis. These visual aids can help make your arguments more compelling and easier to understand.
Proofread and Edit: Make sure to proofread your essay carefully for grammar and spelling errors. In economics, precision and accuracy are essential, so errors can undermine the credibility of your analysis.

These tips can help make your essay writing journey a breeze. Tailor them to your topic to make sure you end with a well-researched and accurate economics essay.

To wrap it up , writing an economics essay requires a combination of solid research, analytical thinking, and effective communication.

You can craft a compelling piece of work by taking our examples as a guide and following the tips.

However, if you are still questioning "how do I write an economics essay?", it's time to get professional help from the best essay writing service - CollegeEssay.org.

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

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

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Barbara is a highly educated and qualified author with a Ph.D. in public health from an Ivy League university. She has spent a significant amount of time working in the medical field, conducting a thorough study on a variety of health issues. Her work has been published in several major publications.

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How to Write a Good Economics Essay

Last Updated: March 7, 2023 References

This article was co-authored by Emily Listmann, MA . Emily Listmann is a Private Tutor 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 128,145 times.

A good economics essay requires a clear argument that is well-supported by appropriately referenced evidence. Research your topic thoroughly and then carefully plan out your essay. A good structure is essential, as is sticking closely to the main essay question. Be sure to proofread your essay and try to write in formal and precise prose.

Preparing to Write Your Essay

For example a question such as “Discuss the macroeconomic consequences of rising house prices, alongside falling interest rates” could be divided into 2 parts: 1 part could be on the effects of rising prices, and 1 on the effects of falling interest rates.
In this example you could begin by discussing each separately and then bringing the 2 together and analysing how they influence each other.
Be sure to keep the question at the forefront of your mind and don’t veer off topic. [1] X Research source

Be sure that you understand all the key terms that you are being asked about.
Try to keep your reading focussed closely to the essay question.
Don’t forget to look at any lecture or class notes you have made.
3 Come up with a thesis statement . A thesis statement is the main argument you will make in your essay. It should be 1-2 sentences long and respond to the essential question that’s being asked. The thesis will help you structure the body of your essay, and each point you make should relate back to the thesis.

Once you have put together a list of key points, then try to add in some more detail that brings in elements from your research.
When you come to write out your essay, you can develop a paragraph based on each point.

All of the evidence and explanation will be in the main body of the essay.
Order the key points in the body of your essay in such a way that they flow logically.
If you are writing a longer essay, you can break the main body into different sections. [2] X Research source
If you have a word limit, be sure to take this into account when you are planning.
Allocate yourself a rough number of words per section.
The introduction and conclusion can be just a paragraph each.

Writing the Essay

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

Having this stated clearly at the start can help you to stay focussed on the question as you work your way through the essay.
Try writing out this one or two sentence statement and sticking it up in front of you as you write, so it’s stays at the forefront of your mind.

Try to begin each paragraph with a sentence that outlines what the paragraph will cover.
Look at the opening sentence of each paragraph and ask yourself if it is addressing the essay question. [5] X Research source

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. [7] X Research source
Don’t just ignore the evidence that runs counter to your argument.

In the conclusion you can add a few sentences that show how your essay could be developed and taken further.
Here you can assert why the question is important and make some tentative suggestions for further analysis.

Proofreading and Making Revisions

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. [10] X Research source

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. [12] 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. [13] X Research source
Your teacher will know if you just add a load of titles into your bibliography that are not evidenced in the body of your essay.
Always follow the bibliography format used by your department or class.

Community Q&A

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↑ http://www.writing.utoronto.ca/advice/planning-and-organizing/organizing
↑ http://carleton.ca/economics/courses/writing-preliminaries/academic-essay-writing/
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About This Article

Before you begin writing your economics essay, make sure to carefully read the prompt so that you have a clear sense of the paper's purpose and scope. Once you have read the prompt, conduct research using your textbook and relevant articles. If you cannot find research materials, ask your instructor for recommendations. After your research is done, construct a 1-2 sentence thesis statement and begin outlining your main ideas so that your essay will have a clear structure. Make sure to leave time to write a draft and revise your work before it is due. If you want to learn more, like how to cite the sources you used for your essay, keep reading the article! Did this summary help you? Yes No

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How to Write an Introduction for an Economics Essay

Louise balle, 29 sep 2017.

An economics essay discusses a topic of importance in a domestic or international economy in current events or from history. The introduction to your economics essay should indicate that you have thoroughly researched the economic principles or news. You must also present an introduction that is riveting, draws the reader in and inspires him to read more of your essay. This is where the challenge lies – to create a compelling introduction. For example, focus on a principle of economics, and then illustrate that principle with specifics. To discuss the principle of demand, you could discuss marketers who created demand for a simple product in which the marketing enhanced the original product -- such as the very successful campaign in which an ordinary rock was marketed and sold as a pet. The pet also came with an instruction booklet on how to raise the pet, as well as other accessories.

In the introduction, give the reader a few of the most important takeaways he'll have after reading your entire essay. Keep your introduction to three paragraphs or less. The introduction is a short lead-in that makes the reader more interested in the rest of the content.

Start with an interesting fact or historical note about the topic. For example, if the essay is about why a nation's real estate market collapsed, give real data about the severity of the event, such as the number of people who lost their homes or who were plagued with bad loans. A startling statistic will help bring the issue into perspective for the reader and hold her interest.

Summarize the overall premise of the economics essay. Discuss the purpose of the economics essay -- for example, your purpose might be to explain why it's important for a nation's government to take a specific action to improve its economy.

Mention new developments or policies that relate to the subject matter. For instance, if the government considers implementing financial controls on a key industry, discuss the plans and how it could affect this topic.

Ask questions pertaining to the topic that you will later answer in the body of the economics essay. For instance, if you plan to discuss why a nation's real estate market ran into problems and when it will likely rebound, ask those questions, rhetorically, in your introduction so that the reader knows you plan to address them later.

1 Prevent Conflict: Example of an Economics Essay Introduction

About the Author

Louise Balle has been writing Web articles since 2004, covering everything from business promotion to topics on beauty. Her work can be found on various websites. She has a small-business background and experience as a layout and graphics designer for Web and book projects.

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How to Write a Good Economics Essay

Governor November 28, 2019 Real World Applications 3 Comments

Many students ask “How to write an economics essay?” This Guide to Writing a Good Economics Essay is applicable to both IB economics as well as the Singapore JC A-Level H2 economics examinations. Many of the pointers here are also applicable to large-mark case study questions.

6 Steps to Writing a Good Economics Essay

Step 1: dissect the question.

Make sure you analyse and fully understand the KEYWORDS and REQUIREMENTS of the question. This is a very important skill that is taught in our economics tuition classes .

For example, “Best”, “Most Effective” are closely related but mean different things.

Paraphrase the question to make it simpler if necessary.

Take note of the command word (eg: Explain, Discuss) as it determines the approach needed for the essay, for example, whether two sides are needed or one side is sufficient. Below are some common examples found in economics essay questions:

Command Words Action Required

Account for Explain why

Analyse Break it down into step-by-step explanations

Assess For & Against. Consider other factors.

Compare Identify Similarities & Differences

Distinguish Point out differences

Discuss Explore both sides

Evaluate The Good and The Bad.

Explain Show why and how

Explain whether Cover both possibilities

Examine Look closely. How so and how not so?

To What Extent Yes…..But….Judgment

Remember to look out for the context in the question. This is usually given in the form of a country (eg: Singapore). The examples in your essay must be tailored to this particular context (for example, do not suggest interest rate policy for Singapore as that is considered infeasible in the Singapore context). If no context is given, any real-world example can be used.

Keep in mind the question throughout the essay and remember to always answer the question. Don’t go off-point!

Common Examiner’s Comment : Not Answering Question (NAQ))

Step 2: Plan Your Answer

Take some time to consider what economic framework you will use to approach the question. Scribble down your main thesis and anti-thesis points. Ensure they ANSWER THE QUESTION.

Step 3: Essay Introduction

In the introduction, include definitions of keywords in the question and spell out the economic framework you will employ for your answer as well as key definitions.

Step 4: Body of Essay

In the body , there will be several paragraphs.

The number of points/paragraphs depends on the question. It is common to require 2 main points for each 10 mark essay and similarly for 15 mark essay questions. Under each main point, there may be 1-2 sub-points.

Use one paragraph for each sub-point you are making.

However, do not be too focussed on the number of points or paragraphs. The key is to answer the question.

For each body paragraph , use TET’s PEEL(ED) structure. Include only one main idea per paragraph.

Point – Write your point in the first sentence so that markers will know what the paragraph will be about. The topic sentence must directly answer the question!
Explanation – Explain what you mean
Elaboration – Provide further analysis with clear step-by-step economic reasoning. This part may be done with examples as well as diagrams.
Link – Link your explanations back to the Point and to answer the question.
Exemplification – Give an example to support your reasoning. It can be statistics or real-world examples (for Case Studies, evidences from the Case must be uncovered!)
Diagram – Where possible, araw an appropriate diagram with correct labelling and refer to it in your answer. This is crucial to show economic reasoning. Diagrams are very important for economics essays!

These are of course much easier said than done! Thus, students in our economics tuition classes are regularly honed to achieve such output including with tips and tricks to spark off the correct thinking process.

Our resources including the Study Guides for A Level and IB economics also provide a very powerful and handy reference on the depth of analysis required to score the highest marks.

Common Examiner’s Comment : Mere statements and claims. No economic rigour.

Step 5: In-Body Evaluation

This applies especially to the 15 mark essays for A-Level Economics. A total of 5 marks is catered for Evaluation. Students should attempt to achieve about 2-3 in-body evaluation marks by pointing out how the thesis and anti-thesis points may not be true due to certain assumptions made that may not hold. Students may write “However,….may not necessarily happen……It would depend on whether….”. This statement can be written after the associated sub-point has been made.

Step 6: CONCLUDING SECTION

This only applies to the 15 mark essay questions.

Earn more evaluation marks by making a reasoned judgement. Deliver your verdict like a Judge!

Check back on the question before you embark on this. Ensure your judgement answers the question.

So the question now is, how does a judge arrive at and deliver a verdict? Certainly, you should not be summarising or merely paraphrasing your main points in the conclusion. Obviously, you cannot expect more marks by saying the same thing over and over again!

After a verdict and reasons have been provided, consider providing further relevant insights and/or recommendations.

Common Examiner’s Comment : Repetitive. Mere Summary.

Here are some quite common types of Concluding Sections

Consider the relative importance of thesis and anti-thesis factors. Which factors are most important or pertinent in the given context? For example, certain policies better fit specifc types of economies.
Consider short-term vs long-term pros and cons. Do the short-term benefits outweigh the long-term costs? Is the policy more effective in the long-term, and if so, how pressing is the problem that needs to be addressed?
Suggest a multi-policy approach, in which each policy has strengths and weaknesses that allow them to complement each other.

There is no way to really memorise evaluation points as every question and context is different. After all, you are being tested on higher-order thinking!

There are other evaluation tips that our students will receive but the key point here is that the training of the mind to think and apply economics is essential. That is where our weekly economics lessons come into play and that is why our students are often asked questions in class and trained to think on their feet. As ex-student Xue Min from YIJC testified, Chief Tutor Mr. Kelvin Hong does not just spoon-feeds our students but mentors them in their thinking to arrive at the answers. This was different from other tutors that her classmates experienced and eventually this was the key to Xue Min’s A grade.

In your essay, write in simple and clear sentences. Everything you write should be value-adding. You do not have to spend time showing off vocabulary as no extra points are awarded for language. Focus on economic reasoning. Use succinct and effective examples which support the point you are trying to make as well as accurate diagrammatic analyses.

For samples of great economics essays, please check out our free Economics Model Essays and sample Past JC A-Level Economics Questions and Answers .

For our econs publications that are sold worldwide, please check out our A Level & IB Economics Study Guides and Model Essays Publications

About The Economics Tutor

Founded by Kelvin Hong in 1998, The Economics Tutor is one of the leading economics tuition in Singapore . We provide a comprehensive program to guide students in understanding complex economic concepts and applying them through case study analyses, essay writing and discussion of real world events.

For 24 years, the way we teach JC Economics Tuition (A Level Economics Tuition) and IB Economics Tuition classes helped learners appreciate economics and everything it entails on a much larger scale. We take things step-by-step, implement effective techniques in memorising frameworks and give every student the chance to nurture their ideas.

We don’t just solely focus on helping you get stellar grades and perfect scores. We make sure that we also hone the critical thinking skills and investment / business decisions you can use outside the four walls of your classroom.

Looking for a fun, engaging and probably the best economics tutor in Singapore? Look no further—check out our extensive and high quality economics resources on the website such as our IB and A Level Economics Publications

Book your lesson today and master the nuances of economics in our next class!

its good knowledgeable post regarding ib economics commentaries. i just wanted to admin can i use your blog as reference to my students .

Go ahead. We are all for helping students learn economics well.

Thank you, A lot of info!

Economics Essay Guide

Isaac Dela Torre

Monday 17th, July 2017

One of the hardest parts of the whole economics course, besides the enormous amount of dry content we are expected to know, is actually figuring out a way to write all of it in an economics essay that “synthesises knowledge, integrates economic concepts and demonstrates a clear understanding of every topic.”

With Trials looming, I thought I would prepare a quick guide on how best to approach economics essays!

The most important thing before starting to write an essay is to look at the directive verb. This should dictate how you structure your response. You should be familiar with them for all your subjects. They tend to pop up a lot in short answer questions as well!! If you need to refresh your memory check out this glossary of key words .

To show you how to write an economics essay, I’ll be integrating an essay I wrote in my trial:

“For an economy other than Australia, discuss and evaluate the strategies used to promote economic growth and development ”

First, let’s break down the question:

Discuss – Provide points for and against.

Evaluate – Provide a judgment based on criteria.

Strategies – This is asking us for policies the government put into place.

Economic growth and Development – It is important to know the difference between the two (they are defined in the essay) as well as the criteria for each so that you can properly evaluate if the strategies lead to Economic growth and development.

The first thing you should always do is PLAN! You should always brain dump anything your mind thinks of then assess what you have written, what is relevant, what your structure will be. Here is a picture of my planning page for this essay.

Introduction

The introduction to your essay is incredibly important. It’s your marker’s first impression of your whole economics essay; make a sh*t one and your marker will be slightly annoyed when reading the rest of it. Markers want succinct and sophisticated introductions that provide a clear outline of your essay, as well as your stance on the question. So how do you make sure your marker loves your introduction?

Your introduction should always start with a definition of the key words in the question. This shows the marker that you know exactly what you are talking about. It can also help with clarity as you have already established what the economic concepts are.

The next sentence should address the question and be your “ thesis ” for your essay. This basically outlines your argument and your stance. This is especially evident if it is a question that requires a judgement.

Your next few sentences should outline what will be in your subsequent paragraphs – this can be done fairly briefly as you will explain more within the paragraphs.

Finally, sum up your introduction by linking your paragraphs to your thesis and the question.

Economic growth is defined as an increase in the total value of goods and services produced by an economy over a period of time, whereas economic development is a qualitative measure of a countries wellbeing based on quality of life which is measured through the Human Development Index (HDI) using criteria of GNI/capita, mean years of schooling and life expectancy. The Chinese economy has undergone major structural reforms in order to promote economic growth and development by embracing globalisation. Economic growth and development have successfully been increased through strategies such as the Open-Door Policy, Agricultural Reforms and Special Economic Zones. These changes have seen increases in China’s GDP growth as well as HDI and other development attributes. More over these policies benefits have not been shared equally as there a large extent of inequality within China.

Trend Analysis

The next paragraph should always be a trend analysis outlining the trends in whatever economic concept you are being asked. You should include what has happened to the concept in recent years as well as why it happened.

This includes the direction (increase/decrease), a high point, a low point, an average and a current point. This should be repeated for as many trends as necessary, dictated by the question. For the question posed, it asks about Economic growth as well as development in a country other than Australia. This section gives the marker the context of what you are talking about. We’ve all been told to use statistics and trends in our essays. This is where the bulk of them should go.

Prior to Deng’s rule, China was a closed economy having growth rates less than 5% as well as increasing poverty and low development. After and during Deng’s reign, the policies aforementioned boosted aggregate demand and supply seeing an increase in GDP growth that averaged 11.9% for 3 decades and reached a high of 16% in 1995 and 14% in 2007, maintaining high growth until the GFC which unlike other economies slowed but did not go into negative at 7%. GDP growth is still high but has significantly slowed since then currently at 6.9% as at 10/8/16. Due to GDP growth China’s HDI increased from 0.432 in 1980 and currently at 0.732 in 2015 showing rising development within China; reinforced by 400 million less people in absolute poverty (less than $1.25 USD a day). However, income inequality has significantly worsened within China, with the combined income of households in eastern coastal regions have 2.7x more income than inland regions.

The body of your essay is where you really start to explain the different concepts and apply them to real life global events. You’ll find that these are incredibly similar to English essays in your paragraph structure. Hopefully they will be a little easier to write!

You should always start each paragraph with a topic sentence outlining what you will be discussing.

Then you should include a definition (if applicable) of whatever the concept in this paragraph is; you should then provide an explanation of what it is and how it works. You should try to provide diagrams to show what you are talking about and explain the concepts more clearly. Never just throw in a diagram without explaining it!

The next few sentences vary depending on the question. They usually show the cause or effect of something; or show advantages and disadvantages.

Just like how you have quotes in an English essay as textual evidence, you need to show evidence that what you are saying is true. Each time you show a cause/effect of something or provide an advantage/disadvantage, use an example from real life to prove what you are saying is true.

You should repeat steps 3 and 4 as many times as you need. With questions that ask for an explanation of how something leads to another thing, make sure you provide every necessary step in order to get there.

Finally, end each of your paragraphs with a linking sentence back to the question.

Here’s an example body paragraph to the above question:

Special Economic Zones within China have promoted both economic growth and development. Through reforms to create special economic zones along coastal ports; Transnational Corporation investment was incentivised through tax cuts and the abundant labour supply (loose legislation). From increased investment through FDI flows, Aggregate Demand (C + I + G + X – M) was boosted as seen in figure 1 where an increase in Aggregate demand results in an increase of Output from Q to Q1. This saw an increase in economic growth from 4% to approximately 7% in 1980s as investment contributed 40% within this time. Due to FDI, China’s employment within that area increased which gave these people higher incomes that could spent on food, shelter, education or healthcare, improving economic development. Businesses in China increased production of mainly manufactured foods which increased Aggregate Supply in the economy as seen in figure 2 where an increase of Aggregate supply from AS to AS1 creates an increase in GDP from Q1 to Q2.

This increase facilitated an increase in productive capacity and thus fostered economic growth. Through this policy taxation was collected from TNC’s which was used by the Government to fund expenditure in healthcare, infrastructure, education which significantly improved development throughout China. However, inequality between the coastal SEZ regions and rural areas has resulted, seeing 40% of the population still living in absolute/extreme poverty and the Lorenz gap widening as seen in figure 3.

Thus, the special economic zone strategy has promoted both economic growth and development.

You’ve smashed out a stellar introduction, given the marker flawless body paragraphs that clearly explain economic theory and relationships and shown you are up to date with contemporary economics; the only thing left to do is to conclude your essay in a way that solidifies your greatness in the marker’s mind. So, how do you do it?

Your first sentence should be a restating of your thesis that directly links back to the question.

Your second few sentences should be a really quick summary of what you talked about in each of your paragraphs and how they relate to your argument as well as the question.

Lastly, you should sum up your argument again, taking into account any counter arguments.

Ultimately, China’s strategies to open up the economy to global markets and increase efficiency have successfully facilitated economic growth and development. Policies including the Open-Door Policy, Special Economic Zones, Agricultural Reforms and Taxation Reforms have created higher growth levels and development levels than China has previously had; enabling the transition to an emerging economy soon to be advanced. Whilst many benefits have come to China’s popular, inequality has been created between Eastern and Western/Northern provinces, seeing a significant amount of China’s population still in extreme poverty; even so, overall strategies have been effective.

And that’s it! You’ve delivered an amazing Band 6 worthy Economics essay, and you didn’t even break a sweat!

I really hope you found this guide helpful. I know that when I first started writing economic essays I was so confused as to what to talk about. How many stats to have, how to integrate trends and diagrams… But I really hope you are a little bit more at ease now and have some direction. By all means, this is not the be all and end all structure; feel free to mix up body paragraphs and go into depth about one particular concept or split up all of your advantages/disadvantages – this is just a simple rough guide that can be moulded to suit your particular style.

As always, if you need help or clarification on anything, be sure to come and ask me!

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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"

Tips for writing economics essays

Some tips for writing economics essays Includes how to answer the question, including right diagrams and evaluation – primarily designed for A Level students.

1. Understand the question

Make sure you understand the essential point of the question. If appropriate, you could try and rephrase the question into a simpler version.

For example:

Q. Examine the macroeconomic implications of a significant fall in UK House prices, combined with a simultaneous loosening of Monetary Policy.

In plain English.

Discuss the effect of falling house prices on the economy
Discuss the effect of falling interest rates (loose monetary policy) on economy

In effect, there are two distinct parts to this question. It is a valid response, to deal with each separately, before considering both together.

It helps to keep reminding yourself of the question as you answer. Sometimes candidates start off well, but towards the end forget what the question was. Bear in mind, failure to answer the question can lead to a very low mark.

2. Write in simple sentences

For clarity of thought, it is usually best for students to write short sentences. The main thing is to avoid combining too many ideas into one sentence. If you write in short sentences, it may sound a little stilted; but it is worth remembering that there are no extra marks for a Shakespearian grasp of English. (at least in Economics Exams)

Look at this response to a question:

Q. What is the impact of higher interest rates?

Higher interest rates increase the cost of borrowing. As a result, those with mortgages will have lower disposable income. Also, consumers have less incentive to borrow and spend on credit cards. Therefore consumption will be lower. This fall in consumption will cause a fall in Aggregate Demand and therefore lead to lower economic growth. A fall in AD will also reduce inflation.

I could have combined 1 or 2 sentences together, but here I wanted to show that short sentences can aid clarity of thought. Nothing is wasted in the above example.

Simple sentences help you to focus on one thing at once, which is another important tip.

3. Answer the question

Quite frequently, when marking economic essays, you see a candidate who has a reasonable knowledge of economics, but unfortunately does not answer the question. Therefore, as a result, they can get zero for a question. It may seem harsh, but if you don’t answer the question, the examiner can’t give any marks.

At the end of each paragraph you can ask yourself; how does this paragraph answer the question? If necessary, you can write a one-sentence summary, which directly answers the question. Don’t wait until the end of the essay to realise you have answered a different question.

Discuss the impact of Euro membership on UK fiscal and monetary policy?

Most students will have revised a question on: “The benefits and costs of the Euro. Therefore, as soon as they see the Euro in the title, they put down all their notes on the benefits and costs of the Euro. However, this question is quite specific; it only wishes to know the impact on fiscal and monetary policy.

The “joke” goes, put 10 economists in a room and you will get 11 different answers. Why? you may ask. The nature of economics is that quite often there is no “right” answer. It is important that we always consider other points of view, and discuss various different, potential outcomes. This is what we mean by evaluation.

Macro-evaluation

Depends on the state of the economy – full capacity or recession?
Time lags – it may take 18 months for interest rates to have an effect
Depends on other variables in the economy . Higher investment could be offset by fall in consumer spending.
The significance of factors . A fall in exports to the US is only a small proportion of UK AD. However, a recession in Europe is more significant because 50% of UK exports go to EU.
Consider the impact on all macroeconomic objectives . For example, higher interest rates may reduce inflation, but what about economic growth, unemployment, current account and balance of payments?
Consider both the supply and demand side . For example, expansionary fiscal policy can help to reduce demand-deficient unemployment, however, it will be ineffective in solving demand-side unemployment (e.g. structural unemployment)

Example question :

The effect of raising interest rates will reduce consumer spending.

However , if confidence is high, higher interest rates may not actually discourage consumer spending.

fall-in-ad-depending-spare-capacity-full

If the economy is close to full capacity a rise in interest rates may reduce inflation but not reduce growth. (AD falls from AD1 to AD2)

However , if there is already a slowdown in the economy, rising interest rates may cause a recession. (AD3 to AD3)

Micro-evaluation

1. The impact depends on elasticity of demand

In both diagrams, we place the same tax on the good, causing supply to shift to the left.

When demand is price inelastic, the tax causes only a small fall in demand.
If demand is price elastic, the tax causes a bigger percentage fall in demand.

2. Time lag

In the short term, demand for petrol is likely to be price inelastic. However, over time, consumers may find alternatives, e.g. they buy electric cars. In the short-term, investment will not increase capacity, but over time, it may help to increase a firms profitability. Time lags.

3. Depends on market structure

If markets are competitive, then we can expect prices to remain low. However, if a firm has monopoly power, then we can expect higher prices.

4. Depends on business objectives

If a firm is seeking to maximise profits, we can expect prices to rise. However, if a firm is seeking to maximise market share, it may seek to cut prices – even if it means less profit.

5. Behavioural economics

In economics, we usually assume individuals are rational and seeking to maximise their utility. However, in the real world, people are subject to bias and may not meet expectations of classical economic theory. For example, the present-bias suggest consumers will give much higher weighting to present levels of happiness and ignore future costs. This may explain over-consumption of demerit goods and under-consumption of merit goods. See: behavioural economics

Exam tips for economics – Comprehensive e-book guide for just £5

8 thoughts on “Tips for writing economics essays”

I really want to know the difference between discussion questions and analysis questions and how to answer them in a correct way to get good credit in Economics

Analysis just involves one sided answers while Discussion questions involve using two points of view

This is a great lesson learnd by me

how can I actually manage my time

The evaluation points in this article are really useful! The thing I struggle with is analysis and application. I have all the knowledge and I have learnt the evaluation points like J-curve analysis and marshall learner condition, but my chains of reasoning are not good enough. I will try the shorter sentences recommended in this article.

What kind of method for costing analysis is most suitable for a craft brewery, in order to analyze the cost of production of different types of beer_

Really useful!Especially for the CIE exam papers

Does anyone know how to evaluate in those advantages/disadvantages essay questions where you would basically analyse the benefits of something and then evaluate? Struggling because wouldn’t the evaluation just be the disadvantages ?? Like how would you evaluate without just stating the disadvantage?

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)

Previous: Effective Writing and Referencing

Next: What makes good justification?

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Note Taking in Economics
Effective Economics Reading
Data Collection for Economics Assignments
What makes good justification?
What makes good support?
Structuring an Essay
Referencing
Presentation and Group Work
Revision for an Economics Exam
Maths Help for Economics Students

A State-Ranker’s Guide to Writing 20/20 Economics Essays

So, you want to know how to improve your preliminary and HSC economics essay...

Cory Aitchison

State Ranker & 99.95 ATAR

1. Introduction to this Guide

So, you want to know how to improve your preliminary and HSC economics essay writing? Look no further! In this guide, I’ll be covering key tips to help YOU smash the structure, amaze with your analysis, conquer the contemporary, and ultimately master the mystery of maximising your marks.

My name is Cory Aitchison, currently one of the Economics tutors at Project Academy . I completed the HSC in 2018, achieving a 99.95 ATAR as well as two state ranks — 6th in economics and 12th in chemistry. Graduating from Knox Grammar School, I also topped my grade in economics and was awarded Dux of the School for STEM. Believe it or not, at the beginning of Year 11 I initially struggled with economics due to the transition in conceptual thinking required in approaching economic assessments in comparison to my other subjects such as English. However, through Year 11 and Year 12, I built up key tips and strategies — that I’ll be sharing with you in this guide — to help me not only consistently achieve top marks in my internal assessments, but to ultimately go on to achieve the results I did in the HSC.

2. The Correct Way to Write

First off, you need to understand something: HSC economics essays are NOT english essays! They aren’t scientific discussions, nor geography reports, nor historical recounts. They’re unique and often quite different from other essays that you might’ve done previously in high school. The style of writing and approach to answering questions can be confusing at first, but follow these tips and you’ll be ready in no time:

Phrasing should be understandable and concise

Unlike some subjects where sophisticated phrasing is beneficial to getting marks, HSC economics essays should emphasise getting your point across with clarity. This means don’t run your sentences on for too long, be aware of any superfluous words, and make sure you actually understand yourself what you’re trying to say in a sentence.

For example:

GOOD: “An increase in interest rates should lead to decreased economic growth.”

NOT GOOD: “As a result of a rise or increase in interest rate levels from their previous values, the general state of economic activity in the domestic economy may begin to decrease and subsequently indicate the resultant situation of a decrease in economic growth.”

“Understandable” does not mean slang or lacking in terminology

Just because you want to get a point across, doesn’t mean you should resort to slang. In fact, using economic terminology is a strong way to boost your standing in the eyes of the marker — if you use it correctly! Always make sure you use full sentences, proper English grammar, and try and incorporate correct economic terms where possible.

GOOD: “This was a detrimental outcome for the economy.”

NOT GOOD: “This was a pretty bad outcome for the economy.”

GOOD: “The Australian Dollar depreciated.”

NOT GOOD: “The Australian Dollar decreased in value.”

Analysis should be done using low modality

Modality just refers to the confidence of your language — saying something “will” happen is strong modality, whereas saying something “might” happen is considered low modality. Since a large portion of economics is about applying theory, we have to make sure that we are aware that we are doing just that — talking about the theoretical, and so we can’t say for sure that anything will happen as predicted.

Some useful words include:

May, Might, Should, Could, Can theoretically

Don’t use words like:

Must, Will, Has to, Always

3. How to use Statistics

“What’s most important is that this contemporary is used to bring meaning or context to your argument…”

Using contemporary (statistics) can often seem straightforward at first, but using it effectively is usually harder than it looks. Contemporary generally refers to applying real-world facts to your analysis to help strengthen (or weaken) the theoretical arguments. This can include many different statistics or pieces of information, including:

Historic economic indicators, such as GDP, inflation, GINI coefficients, exchange rates, or unemployment rates
Trends or economic goals, such as long-term GDP growth rates, or the stability band for inflation
Names of economic policies, such as examples of fiscal or microeconomic policies
Specifics of economic policies, such as the amount spent on infrastructure in 2017

Whatever statistics you deem relevant to include in your essay, what’s most important is that this contemporary is used to bring meaning or context to your argument — just throwing around random numbers to show off your memorisation skills won’t impress the marker, and in fact might appear as if you were making them up on the spot. Rather, your use of contemporary should actively improve your analysis.

GOOD: “Following a period of growth consistently below the long-term trend-line of 3%, the depreciation of the AUD to 0.71USD in 2017 preceded an increase in economic growth to a 10-year high of 3.4% in 2018.”

NOT GOOD: “Economic growth increased by 1 percentage point in 2017 to 2018”

NOT GOOD: “GDP was $1.32403 trillion in 2017”

GOOD: “The 2017 Budget’s Infrastructure Plan injected $42 billion into the economy — up 30% from 2016’s $31 billion, and 20% higher than the inflation-adjusted long-term expenditure.”

NOT GOOD: “The 2017 Budget’s Infrastructure Plan injected $42 billion into the economy”

That in mind, don’t think that these statistics have to be overly specific. As long as the general ideas gets across, it’s fine. You don’t need to say “$1,505,120” — just “$1.5 million” will suffice.

Ask yourself: if I get rid of the contemporary from my paragraphs, does the essay still have enough content?

Further, don’t get roped into the “contemporary trap” — where you fall into the mindset that “if I memorise all these statistics, my essay will get good marks”. Including numbers and contemporary at the expense of having a robust theoretical explanation and analysis will definitely be detrimental in getting you top marks. Particularly in trial exams and the HSC when you’ve got all these numbers floating in your head, it can be tempting to try and include as many as you can (often just because you can!). To avoid this, always try and focus your arguments on analysis and syllabus content first, contemporary second. Ask yourself: if I get rid of the contemporary from my paragraph, does the essay still have enough content?

4. Must Have Insightful “However”s

If you really want to extend your analysis and show the marker that you know your stuff, including insightful “however”s is a strong way to do it. What I mean by this is that for each of your paragraphs, try and include a counterpoint that highlights the flexible nature of economic theory. There are broadly two kinds of “however”s:

Theoretical “However”s

These are counterpoints that are based on theory — often there will be theoretical limitations for many of the concepts you come across in economics. It’s always important to include these limitations as it reinforces your knowledge of the actual content of economics.

“Although the Budget and fiscal policy can be effective at stimulating economic growth, it is also restricted by the “implementation time lag” limitation since it is only introduced annually.”

Contemporary “However”s

These are counterpoints that are based on contemporary — highlighting how although something should happen theoretically, this isn’t usually what is observed in reality. This can be particularly powerful in that it combines your knowledge of theory with your analysis of contemporary.

“Despite the expansionary stance that the RBA adopted in 2012–2016 for monetary policy, Australia’s annual GDP growth rate has remained below the trend rate of 3% — against the theoretical expectations. This could be attributed to factors such as …”

5. How to Interpret the Question

When you first look at a question, before you even put pen to paper, you need to come up with a plan of attack — how can you ensure that you answer the question correctly, and give the markers what they want? There are three main points to look for when interpreting essay questions:

Knowing your verbs

As you may (or may not) know, NESA has a bank of words that they like to pull from when writing questions, and these words impact how they want their question answered. These verbs should help steer your analysis onto the right path. For example:

Explain: “Relate causes and effects”

To answer these questions, you have to demonstrate a thorough understanding of how theory and events impact each other and the economy. This verb particularly emphasises the idea of a process — you need to be able to make clear links as to how each step leads to the next, rather than just jumping to the outcomes.

Analyse: “Draw out and relate implications”

These questions usually wants you to investigate the connections between different aspects of economic theory. Generally this involves showing a holistic understanding of how different areas (such as micro- and macroeconomic policies) come together to make a cohesive impact on the economy. It usually helps to think back to the syllabus and how the points are introduced when figuring out which ideas to link together.

Assess/Evaluate: “Make a judgement based on value/a criteria”

These require you to not only critically analyse a topic but also come to a conclusion given the arguments you provided. This type of question usually gets you to make a judgement of the effectiveness of some economic theory — such as the ability for economic policies to achieve their goals. Make sure you actually include this judgement in your answer — for example, say things like “strong impact”, “highly influential”, “extremely detrimental”.

Discuss: “Provide points for and/or against”

Similar to assess, discuss wants you to provide arguments towards and against a particular topic. Although it doesn’t require a specific judgement to be made, it does place greater emphasis on showing a well-rounded approach to the argument — providing relatively equal weightings towards both the positive and negative sides of the discussion.

Linking to the syllabus

When trying to understand what the question wants from you, I found the best way to approach it is to consider what points in the syllabus it is referring to (To do this, you need to have a solid understanding of the syllabus in the first place). Once you’ve located it, try drawing upon other topics in the vicinity of that dot point to help you answer the question.

For example, if the question mentions “trends in Australia’s trade and financial flows”, then you know from the syllabus that you probably need to talk about value, composition and direction in order to get high marks. Further, it may also be worth it to bring in ideas from the Balance of Payments, as this is the next dot point along in the syllabus.

Digging into the source

For essay questions that provide a source for you to include in your answer, this is another goldmine from which you can discern what the marker really wants. If the source mentions microeconomic policy, it probably wasn’t on accident! Even if it may not be obvious how to link that to the question immediately, try and draw upon your knowledge and implications and see if there’s a different angle that you might be missing.

6. Putting it All together — Structuring your essay

My essays usually consisted of four main parts: an introduction, a background paragraph, body paragraphs, and a conclusion.

Introduction

Your introduction should not be long. I rarely wrote an introduction longer than three sentences.

First sentence: Answer the question (thesis)

Try and answer the question, while including the main key words of the question in your answer. Don’t directly restate it — instead, try and add meaning to it in a way that represents what you’re trying to get across in your essay.

For example: if the question was “Assess the impact of microeconomic policy in improving economic growth in Australia”, my first sentence might be “Microeconomic policy has had a significant impact in increasing aggregate supply and thus long-term economic growth in Australia since the 1960s”.

Next sentences: Introduce your arguments/paragraphs

In this part, it’s fine to almost list your paragraphs — there’s no need to do a whole sentence explaining each. That’s what the paragraphs themselves are for.

For example: using the same question as above, my next sentence might be “Although trade liberalisation may have been detrimental for short-term growth in manufacturing, policies such as competition policy and wage decentralisation have been highly effective in fostering economic growth in Australia”.

Background Paragraph

The aim of a background paragraph is threefold: to get across the main theory that underpins your argument; to establish the economic context for your argument; and to show the marker that you “know your stuff”.

For example, if the essay was on monetary policy, you may want to describe the process of Domestic Market Operations (how the reserve bank changes the cash rate) in your background paragraph, so that you don’t need to mention it each time you bring up changing stances. Further, it may be good to showcase the current economic climate — such as GDP growth rate and inflation — to give context to your analysis in your essay.

Some ideas for what to include in this paragraph include:

Key theory such as DMOs or the rationale for macroeconomic policies
Economic indicators that provide context to the time period that you’re working in, such as growth rates, inflation, unemployment rates, exchange rates, cash rates, etc.
A brief description of the recent Budget (if talking about fiscal policy), including the stance and outcome

Bear in mind that this paragraph shouldn’t be too long — it isn’t the focus of your essay! Instead, aim for around 100–150 words at most. At this point in your essay, it may also be good to include a graph (more on this later).

Body Paragraphs

There’s no set rule for how many body paragraphs to include in your essay — I generally aim for at least 4, but there’s no real limit to how many you can (or should) write! Unlike english essays, it’s totally acceptable to just split a paragraph in two if you feel like the idea is too large to be written in one paragraph (as long as each paragraph makes sense on its own).

When writing a paragraph, I usually follow this structure:

Topic sentence

This is where you answer the question, and outline your argument or idea for this paragraph. If you are doing a discuss/assess/evaluate essay, try and make your judgement or side obvious. For example: “Trade liberalisation has been detrimental in its impact on economic growth in manufacturing industries”.

These sentences are where you bring together the theory and contemporary to build up your argument. Remember, the theory should be the focus, and contemporary a bonus. Try and weave a “story” into your analysis if you can — you should be showing the marker how everything fits together, how causes lead to effects, and ultimately bringing together relevant economic concepts to answer the question. Feel free to also include graphs here when they help strengthen your argument.

Fit in your “however” statements here. For discuss questions, this however section may take up a larger part of the paragraph if you choose to showcase two opposing arguments together.

Link your argument back to your overarching thesis, and answer the question. Following on from your “however” statement, it can often be a good idea to use linking words such as “nevertheless”, “notwithstanding”, or “despite this” to show that taking into account your arguments presented in the “however” statement, the overarching idea for the paragraph still remains.

Like the introduction, your conclusion should not be overly long. Rather, it should briefly restate the arguments made throughout your essay, and bring them all together again to reinforce how these points help answer the question.

Aggregate Demand / Supply Graph

Graphs are a great way to add extra spice to your essay — not only does it help strengthen your explanations of economic theory, it also makes it look like you wrote more pages than you actually did! Graphs, such as aggregate demand graphs, business cycle graphs, and Phillips curves, can be great in reinforcing your ideas when you mention them in your essay. They usually come either in background paragraphs or body paragraphs, and it’s usually best to draw them about a quarter to a third of the page in size. It’s also good practice to label them as “Figure 1” or “Graph 1”, and refer to them as such in your actual paragraph.

Although they can be beneficial, don’t try and force them either. Not all essays have appropriate graphs, and trying to include as many as you can without regards for their relevance may come across negatively in the eyes of the marker.

8. How to Answer Source Questions

If your essay question involves a source, try and refer to it multiple times throughout your essay. For example, this can be in the background paragraph and two of your body paragraphs. Rather than just adding in an “…as seen in the source” to one of your sentences, try and actively analyse it — show the marker that you understand why they included it, and how it actually helps strengthen your arguments.

9. Plan You Essay

Don’t be afraid to use the first page of your answer booklet as a planning page. Taking a couple minutes before you answer the question to lay out your scaffold for body paragraphs is a great first step to helping ensure that you actually end up answering the question to the best of your abilities. It also serves as a great reminder to keep checking as you finish each paragraph to ensure that you actually wrote what you intended. Just make sure to make it clear to the marker that those scribbles on the page are just a plan, and not your actual essay!

10. How to Prepare for Essays in the Exam

I find it much better to prepare paragraphs and ideas that you can draw upon to help “build up” a response during the exam itself.

Don’t go into the exam with a pre-prepared essay that you are ready to regurgitate — not only are there too many possibilities to prepare for, but it’s also unlikely that you’ll actually answer the question well with a pre-prepared response.

Instead of memorising sets of essays before the exam, I find it much better to prepare paragraphs and ideas that you can draw upon to help “build up” a response during the exam itself. What I mean by this, is that in your mind you have a “bank of different paragraphs” and ideas from all the topics in the syllabus, and when you read the exam, you start drawing from different paragraphs here and there to best formulate a response that answers the question. This allows you to be flexible in answering almost any question they can throw at you.

On top of this, ensure you have a solid foundation in both the theory and contemporary — knowing what statistics or topics to include in your essay is useless knowledge unless you have the actual content to back it up.

Now that you know the basics of how to write a good HSC economics essay, it’s time to start practising! Have a go, try out different styles, and find what works best for you. Good luck!

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How to write economics essays

All Economics exam papers at A-Level will have a 25-mark essay-style question, which requires evaluation .

There are different approaches that can be taken in dealing with essay questions, and there is not one essay writing 'template' or 'wizard' that can deal will all questions. However, a commonly used method is to use the first half of your essay to complete the analysis and the second half to evaluate - this is an easy approach to master, and can be used to answer most microeconomic and macroeconomic essays. More on this later.

What the mark scheme tells us

The mark-scheme for a 25-mark question is typically based on the ' levels ' method, with marks allocated in the following way:

4 marks for correctly demonstrating knowledge and understanding of economic concepts and models

4 marks for applying your knowledge and understanding to the 'context' put before you - this case a chocolate manufacturer

8 marks for providing an analysis of the decision (in this case, to raise price) - i.e. what are the expected effects, consequences and results

9 marks for evaluating a decision (question, issue, policy, or problem) based on your judgment , with reference to the problems or risks associated with the decision (policy, problem etc.)

Points to note

Exam boards often state that, in a 25-mark question, definitions are not specifically required , but it is good practice to define key economic terms that are specific to economics, and to the question.
Application does not happen in one section of your answer, but should run throughout your answer . In other words, answers that are purely theoretical and detached from the context will not earn high marks.
For analysis and evaluation, developing a chain of reasoning is essential - ( read more on chains of reasoning ) you have to show exactly how you arrived at a point, judgment or conclusion. A carefully chosen, well draw, accurately explained and fully integrated diagram is essential for effective analysis. This is only possible if you start out by making your assumptions clear.
For evaluation, it is essential that you provide an alternative approach , (alternative decision, policy etc.) and that your conclusion is not just a summary but a 'weighted' judgment .
While you only have 30 minutes to write, it is essential you plan your route through your answer - 4-5 minutes planning is worth its weight in gold!

So, lets have a look at a couple of ways to deal with a 25-mark question. Both have similar openings and conclusions, but start out with different assumptions.

' Evaluate the decision by a chocolate manufacturer to raise the price of its 'luxury' box of chocolates .'

There are several factors a chocolate manufacturer will take into account when making a decision about its price. Factors affecting this decision depend on the market structure it operates in, the level of competition it faces, its size and ownership structure. These will affect its main business objective, which in turn will affect its decision regarding price and non-price factors.

We will assume that the chocolate manufacturer's objective is to maximise profits and that it is a price maker and facing a downward sloping demand curve. This means that it is not operating in a highly competitive market, and can raise price without suffering a complete collapse in sales. Profit maximisation arises at the output where MC=MR, which in the diagram is quantity Q. At profit maximisation, the area of supernormal profits (SNP) is area p a b c.

At this quantity, marginal revenue equals marginal cost, which means that any change in price or quantity produced will move it away from profit maximisation. For example, if the chocolate manufacturer increases price to P1, demand will contract along the demand (AR) curve, from 'a' to 'v', resulting in equilibrium quantity falling to Q1. At Q1, MR is greater than MC, which means there is an opportunity cost because the firm could reduce price and produce more, which would lead to an increase its supernormal profits. So, reducung price and producing extra marginal units of output will add to SNP until MC=MR is reached. Hence, in terms of achieving its profit maximising objective, an increase in price above 'P' is clearly counter-productive. This is supported by the probability that demand for 'luxury' chocolates is price elastic, and the producer is operating in the elastic range of the AR curve. As a result, any increase in price will reduce total revenue, and also reduce SNP, which falls to area P1 v w x.

However, there are issues with this analysis. Are the assumptions about the chocolate producer and its market valid? Is the chocolate producer targeting profits, or attempting to achieve a different objective? Will there be negative, and even unexpected consequences of the price rise?

The assumptions regarding the market structure certainly might not hold - in a less competitive market, with fewer firms, the price rise may have a much smaller effect because consumers have less choice. Demand may be more inelastic than predicted, especially if there is loyalty to the brand of chocolate - even though it is a luxury product.

Also, the chocolate producer may have previously been a revenue or sales maximiser and may have decided to change its strategy from revenue or sales maximising to profit maximising. As a revenue or sales maximiser price will be set at a lower level, to stimulate sales or gain more revenue. Management salaries or bonuses may be connected with sales, hence a low price will help the firm achieve this objective. The price increase will move it towards profit maximisation rather than away from it, and help it achieve its new objective. Alternatively, the producer may be a 'profit satisficer' looking to increase its profits but not maximising them. In any of these cases, the price rise might be a rational decision.

It is not known whether rivals will keep their prices on hold, reduce them or raise them to match the firm's price increase. If the firm has a few close competitors, then these firms may be interdependent, meaning it may be more beneficial to keep prices on hold to reduce uncertainty.

Furthermore, the price rise could encourage unwanted new entrants, attracted by the opportunity presented. Raising price could also send a signal to existing producers to launch their own 'luxury' version of the product.

Of course, there may be alternative decisions to consider to help it achieve its objectives, such as changing its non-price activities. So, the price rise could be justified if an effective marketing campaign could help increase demand (AR) and, diagrammatically, shift the AR (and MR) curve to the right, as shown.

In this case, profits are maintained, or even increased, as shown, with lower supernormal profits at area P1 k r m.

Taking a wider view, price rises reduce consumer surplus, and if personal incomes remain constant, consumer will have less income to spend on other goods and services, and the price rise will cause a negative income effect. Of course, a rise in the price of chocolate would not have the same effect as a rise in interest rates or house prices, so the income effect is very small.

In conclusion, the decision to raise prices cannot be judged without understanding the nature of the market, the level of competition and the firm's current objectives, and compared with alternatives. There is also the wider economic context to consider, such as whether the economy is in a recession, with pressure on disposable income, or whether the economy is growing, with consumers feeling confident. There are clearly risks associated with an increase in price, and it might be less risky not to raise price, and put more effort into non-price strategies. However, if the assumptions that the firm is already a profit maximiser, that there are no other changes to its non-price activity, and that the behaviour of other chocolate producers does not change, then a price rise seems unjustifiable as it would fail to achieve its dominant objective - to maximise profits - and raising price would, in this case, be an irrational decision.

Answer two - the alternative answer

We will assume that the chocolate manufacturer's objective is to maximise profits and that it is a price maker and facing a downward sloping demand curve. We will also assume that it currently is not profit maximising, but producing at an output greater than profit maximisation, at output Q, and a lower price, at P in the following diagram. Profit maximisation arises at the output where MC=MR, which in the diagram is quantity Q1, and price P1.

At the quantity Q, while marginal revenue is negative at 'f' and below marginal cost at 's', the chocolate manufacturer still makes a supernormal profit, shown as the area SNP (area Pvwx). Also, at the current price of P, price elasticity of demand is inelastic because, in the diagram quantity demanded, Q at price P is to the right of the mid-point of the demand (AR) curve. Given that, at the mid-point, PED equals (-) 1.0, which is where MR=0, at its current output, PED must be inelastic.

Given these assumptions, a decision to increase price above P will help the manufacturer achieve profit maximisation. Because the firm operates in the inelastic portion of its demand (AR) curve, the planned price rise reduces the quantity demanded, to Q1, but increases total revenue - at least up to the output where MR=0. The reduction in output that follows means that the variable costs of production fall, which means that marginal costs fall (from 's' to 't'), while at the same time marginal revenue increases from 'f' to 't'. Assuming profit maximisation is still the dominant objective, the price rise is clearly beneficial, as it leads to increased profits (area P1a b c) resulting from the lower marginal cost and the higher marginal revenue.

However, there issues with this analysis. Firstly, are the assumptions about the chocolate producer valid, secondly, is the chocolate producer wishing to increase profits, and thirdly, will there be any negative, and even unexpected consequences of the price rise?

The assumptions regarding the market structure certainly might not hold - the market could be much more competitive, and approach perfect competition. This would result in a very different outcome for the producer, especially in terms of a price elasticity of demand, which rises with increased competition. In a more competitive market, there are more choices for the consumer, and any price rise by one firm may result in falling revenue. Demand may be more elastic than predicted, especially because the price rise is for the 'luxury' version of the box of chocolates, where demand is likely to be more elastic.

Also, the chocolate producer may not be a profit maximiser, but may instead be a revenue or sales maximiser, in which case the price rise could move it away from maximising sales or revenue points. If the firm is a large producer where there is a separation of ownership and control, it is more likely that other 'managerial' objectives dominate decision making. If, for example, the firm is looking to maximise sales volume, perhaps because management salaries or bonuses are connected with sales, then a price rise would not be beneficial.

It is not known whether rivals will keep their prices on hold, reduce them or raise them to match the firm's price increase. If the firm has a few close competitors, then the fact that these firms may be interdependent means that it may be more beneficial to keep prices on hold and reduce uncertainty.

Of course, there may be alternative decisions to consider to help it achieve its objectives, such as changing its non-price policy. So, if there is also a successful marketing campaign designed to increase sales, or build a brand, price increases could be postponed until the brand is well established.

In conclusion, the decision to raise prices cannot be judged without understanding the nature of the market and competition and the firm's current objectives, and compared with alternatives. There is also the wider economic context to consider, such as whether the economy is in a recession, with pressure on disposable income, or whether the economy is growing, with consumers feeling confident. There are clearly risks associated with an increase in price, and it might be less risky not to raise price, and put more effort into non-price strategies. However, if all the assumptions listed above are fully met, then a price rise seems justifiable in that the firm can achieve its dominant objective - to maximise profits.

These are two answers which use a similar structure, and common introduction and conclusion - but start with different assumptions, and therefore have a different analysis, and evaluation.

There are other several possible approaches to this question, and other evaluative points that could have been included. For example, there could have been more emphasis on what rivals might do, and there could be more robust questioning about exactly how much the price is being increased by, and whether this is just a temporary strategy. The essay could also have raised the question of the possible external effects arising from less output and consumption (namely fewer negative consumption and production externalities). However, with the time constraint in the examination room, it is not possible to cover every 'blade of grass' and some good points may have to be sacrificed.

Finally, the 'starting point' and assumptions could have been different, which would have led to a different analysis.

Conclusion and key takeaways

Having a structure to help you tackle an essay-style question is very important.

Both essays use the same four-part structure :

Part 1, the analysis - making assumptions, and using the correct diagram to show how a decision or policy will work to achieve an objective.
Part 2, the evaluation begins with ' the bridge ' of the essay - assumptions are questioned and probably changed.
Part 3 the full evaluation , where an alternative or alternatives are explained based on the change of assumptions.
Part 4, the conclusion , where the evidence or strength of argument is assessed, and the decision, policy or assertion is 'accepted in full', 'accepted in part' or 'rejected' in favour of the alternative(s).

Finally, it is clear how important diagrams are in analysis and evaluation, and helping develop a logical chain of reasoning - so ensure that you have undertaken enough practice in constructing, applying and integrating diagrams to a wide range of past questions.

Other tips:

How to study economics

How to write the perfect conclusion

How to answer data response questions

How to include chains of reasoning

1.1 What Is Economics, and Why Is It Important?

Learning objectives.

By the end of this section, you will be able to:

Discuss the importance of studying economics
Explain the relationship between production and division of labor
Evaluate the significance of scarcity

Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life. Scarcity means that human wants for goods, services and resources exceed what is available. Resources, such as labor, tools, land, and raw materials are necessary to produce the goods and services we want but they exist in limited supply. Of course, the ultimate scarce resource is time- everyone, rich or poor, has just 24 expendable hours in the day to earn income to acquire goods and services, for leisure time, or for sleep. At any point in time, there is only a finite amount of resources available.

Think about it this way: In 2015 the labor force in the United States contained over 158 million workers, according to the U.S. Bureau of Labor Statistics. The total land area was 3,794,101 square miles. While these are certainly large numbers, they are not infinite. Because these resources are limited, so are the numbers of goods and services we produce with them. Combine this with the fact that human wants seem to be virtually infinite, and you can see why scarcity is a problem.

Introduction to FRED

Data is very important in economics because it describes and measures the issues and problems that economics seek to understand. A variety of government agencies publish economic and social data. For this course, we will generally use data from the St. Louis Federal Reserve Bank's FRED database. FRED is very user friendly. It allows you to display data in tables or charts, and you can easily download it into spreadsheet form if you want to use the data for other purposes. The FRED website includes data on nearly 400,000 domestic and international variables over time, in the following broad categories:

Money, Banking & Finance
Population, Employment, & Labor Markets (including Income Distribution)
National Accounts (Gross Domestic Product & its components), Flow of Funds, and International Accounts
Production & Business Activity (including Business Cycles)
Prices & Inflation (including the Consumer Price Index, the Producer Price Index, and the Employment Cost Index)
International Data from other nations
U.S. Regional Data
Academic Data (including Penn World Tables & NBER Macrohistory database)

For more information about how to use FRED, see the variety of videos on YouTube starting with this introduction.

If you still do not believe that scarcity is a problem, consider the following: Does everyone require food to eat? Does everyone need a decent place to live? Does everyone have access to healthcare? In every country in the world, there are people who are hungry, homeless (for example, those who call park benches their beds, as Figure 1.2 shows), and in need of healthcare, just to focus on a few critical goods and services. Why is this the case? It is because of scarcity. Let’s delve into the concept of scarcity a little deeper, because it is crucial to understanding economics.

The Problem of Scarcity

Think about all the things you consume: food, shelter, clothing, transportation, healthcare, and entertainment. How do you acquire those items? You do not produce them yourself. You buy them. How do you afford the things you buy? You work for pay. If you do not, someone else does on your behalf. Yet most of us never have enough income to buy all the things we want. This is because of scarcity. So how do we solve it?

Visit this website to read about how the United States is dealing with scarcity in resources.

Every society, at every level, must make choices about how to use its resources. Families must decide whether to spend their money on a new car or a fancy vacation. Towns must choose whether to put more of the budget into police and fire protection or into the school system. Nations must decide whether to devote more funds to national defense or to protecting the environment. In most cases, there just isn’t enough money in the budget to do everything. How do we use our limited resources the best way possible, that is, to obtain the most goods and services we can? There are a couple of options. First, we could each produce everything we each consume. Alternatively, we could each produce some of what we want to consume, and “trade” for the rest of what we want. Let’s explore these options. Why do we not each just produce all of the things we consume? Think back to pioneer days, when individuals knew how to do so much more than we do today, from building their homes, to growing their crops, to hunting for food, to repairing their equipment. Most of us do not know how to do all—or any—of those things, but it is not because we could not learn. Rather, we do not have to. The reason why is something called the division and specialization of labor , a production innovation first put forth by Adam Smith ( Figure 1.3 ) in his book, The Wealth of Nations .

The Division of and Specialization of Labor

The formal study of economics began when Adam Smith (1723–1790) published his famous book The Wealth of Nations in 1776. Many authors had written on economics in the centuries before Smith, but he was the first to address the subject in a comprehensive way. In the first chapter, Smith introduces the concept of division of labor , which means that the way one produces a good or service is divided into a number of tasks that different workers perform, instead of all the tasks being done by the same person.

To illustrate division of labor, Smith counted how many tasks went into making a pin: drawing out a piece of wire, cutting it to the right length, straightening it, putting a head on one end and a point on the other, and packaging pins for sale, to name just a few. Smith counted 18 distinct tasks that different people performed—all for a pin, believe it or not!

Modern businesses divide tasks as well. Even a relatively simple business like a restaurant divides the task of serving meals into a range of jobs like top chef, sous chefs, less-skilled kitchen help, servers to wait on the tables, a greeter at the door, janitors to clean up, and a business manager to handle paychecks and bills—not to mention the economic connections a restaurant has with suppliers of food, furniture, kitchen equipment, and the building where it is located. A complex business like a large manufacturing factory, such as the shoe factory ( Figure 1.4 ), or a hospital can have hundreds of job classifications.

Why the Division of Labor Increases Production

When we divide and subdivide the tasks involved with producing a good or service, workers and businesses can produce a greater quantity of output. In his observations of pin factories, Smith noticed that one worker alone might make 20 pins in a day, but that a small business of 10 workers (some of whom would need to complete two or three of the 18 tasks involved with pin-making), could make 48,000 pins in a day. How can a group of workers, each specializing in certain tasks, produce so much more than the same number of workers who try to produce the entire good or service by themselves? Smith offered three reasons.

First, specialization in a particular small job allows workers to focus on the parts of the production process where they have an advantage. (In later chapters, we will develop this idea by discussing comparative advantage .) People have different skills, talents, and interests, so they will be better at some jobs than at others. The particular advantages may be based on educational choices, which are in turn shaped by interests and talents. Only those with medical degrees qualify to become doctors, for instance. For some goods, geography affects specialization. For example, it is easier to be a wheat farmer in North Dakota than in Florida, but easier to run a tourist hotel in Florida than in North Dakota. If you live in or near a big city, it is easier to attract enough customers to operate a successful dry cleaning business or movie theater than if you live in a sparsely populated rural area. Whatever the reason, if people specialize in the production of what they do best, they will be more effective than if they produce a combination of things, some of which they are good at and some of which they are not.

Second, workers who specialize in certain tasks often learn to produce more quickly and with higher quality. This pattern holds true for many workers, including assembly line laborers who build cars, stylists who cut hair, and doctors who perform heart surgery. In fact, specialized workers often know their jobs well enough to suggest innovative ways to do their work faster and better.

A similar pattern often operates within businesses. In many cases, a business that focuses on one or a few products (sometimes called its “ core competency ”) is more successful than firms that try to make a wide range of products.

Third, specialization allows businesses to take advantage of economies of scale , which means that for many goods, as the level of production increases, the average cost of producing each individual unit declines. For example, if a factory produces only 100 cars per year, each car will be quite expensive to make on average. However, if a factory produces 50,000 cars each year, then it can set up an assembly line with huge machines and workers performing specialized tasks, and the average cost of production per car will be lower. The ultimate result of workers who can focus on their preferences and talents, learn to do their specialized jobs better, and work in larger organizations is that society as a whole can produce and consume far more than if each person tried to produce all of their own goods and services. The division and specialization of labor has been a force against the problem of scarcity.

Trade and Markets

Specialization only makes sense, though, if workers can use the pay they receive for doing their jobs to purchase the other goods and services that they need. In short, specialization requires trade.

You do not have to know anything about electronics or sound systems to play music—you just buy an iPod or MP3 player, download the music, and listen. You do not have to know anything about artificial fibers or the construction of sewing machines if you need a jacket—you just buy the jacket and wear it. You do not need to know anything about internal combustion engines to operate a car—you just get in and drive. Instead of trying to acquire all the knowledge and skills involved in producing all of the goods and services that you wish to consume, the market allows you to learn a specialized set of skills and then use the pay you receive to buy the goods and services you need or want. This is how our modern society has evolved into a strong economy.

Why Study Economics?

Now that you have an overview on what economics studies, let’s quickly discuss why you are right to study it. Economics is not primarily a collection of facts to memorize, although there are plenty of important concepts to learn. Instead, think of economics as a collection of questions to answer or puzzles to work. Most importantly, economics provides the tools to solve those puzzles.

Consider the complex and critical issue of education barriers on national and regional levels, which affect millions of people and result in widespread poverty and inequality. Governments, aid organizations, and wealthy individuals spend billions of dollars each year trying to address these issues. Nations announce the revitalization of their education programs; tech companies donate devices and infrastructure, and celebrities and charities build schools and sponsor students. Yet the problems remain, sometimes almost as pronounced as they were before the intervention. Why is that the case? In 2019, three economists—Esther Duflo, Abhijit Banerjee, and Michael Kremer—were awarded the Nobel Prize for their work to answer those questions. They worked diligently to break the widespread problems into smaller pieces, and experimented with small interventions to test success. The award citation credited their work with giving the world better tools and information to address poverty and improve education. Esther Duflo, who is the youngest person and second woman to win the Nobel Prize in Economics, said, "We believed that like the war on cancer, the war on poverty was not going to be won in one major battle, but in a series of small triumphs. . . . This work and the culture of learning that it fostered in governments has led to real improvement in the lives of hundreds of millions of poor people.”

As you can see, economics affects far more than business. For example:

Virtually every major problem facing the world today, from global warming, to world poverty, to the conflicts in Syria, Afghanistan, and Somalia, has an economic dimension. If you are going to be part of solving those problems, you need to be able to understand them. Economics is crucial.
It is hard to overstate the importance of economics to good citizenship. You need to be able to vote intelligently on budgets, regulations, and laws in general. When the U.S. government came close to a standstill at the end of 2012 due to the “fiscal cliff,” what were the issues? Did you know?
A basic understanding of economics makes you a well-rounded thinker. When you read articles about economic issues, you will understand and be able to evaluate the writer’s argument. When you hear classmates, co-workers, or political candidates talking about economics, you will be able to distinguish between common sense and nonsense. You will find new ways of thinking about current events and about personal and business decisions, as well as current events and politics.

The study of economics does not dictate the answers, but it can illuminate the different choices.

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How to Write an Essay Introduction (with Examples)  

The introduction of an essay plays a critical role in engaging the reader and providing contextual information about the topic. It sets the stage for the rest of the essay, establishes the tone and style, and motivates the reader to continue reading.

What is an essay introduction , what to include in an essay introduction, how to create an essay structure , step-by-step process for writing an essay introduction , how to write an introduction paragraph , how to write a hook for your essay , how to include background information , how to write a thesis statement .

Argumentative Essay Introduction Example:
Expository Essay Introduction Example

Literary Analysis Essay Introduction Example

Check and revise – checklist for essay introduction , key takeaways , frequently asked questions .

An introduction is the opening section of an essay, paper, or other written work. It introduces the topic and provides background information, context, and an overview of what the reader can expect from the rest of the work. 1 The key is to be concise and to the point, providing enough information to engage the reader without delving into excessive detail.

The essay introduction is crucial as it sets the tone for the entire piece and provides the reader with a roadmap of what to expect. Here are key elements to include in your essay introduction:

Hook : Start with an attention-grabbing statement or question to engage the reader. This could be a surprising fact, a relevant quote, or a compelling anecdote.
Background information : Provide context and background information to help the reader understand the topic. This can include historical information, definitions of key terms, or an overview of the current state of affairs related to your topic.
Thesis statement : Clearly state your main argument or position on the topic. Your thesis should be concise and specific, providing a clear direction for your essay.

Before we get into how to write an essay introduction, we need to know how it is structured. The structure of an essay is crucial for organizing your thoughts and presenting them clearly and logically. It is divided as follows: 2

Introduction:  The introduction should grab the reader’s attention with a hook, provide context, and include a thesis statement that presents the main argument or purpose of the essay.
Body:  The body should consist of focused paragraphs that support your thesis statement using evidence and analysis. Each paragraph should concentrate on a single central idea or argument and provide evidence, examples, or analysis to back it up.
Conclusion:  The conclusion should summarize the main points and restate the thesis differently. End with a final statement that leaves a lasting impression on the reader. Avoid new information or arguments.

Here’s a step-by-step guide on how to write an essay introduction:

Start with a Hook : Begin your introduction paragraph with an attention-grabbing statement, question, quote, or anecdote related to your topic. The hook should pique the reader’s interest and encourage them to continue reading.
Provide Background Information : This helps the reader understand the relevance and importance of the topic.
State Your Thesis Statement : The last sentence is the main argument or point of your essay. It should be clear, concise, and directly address the topic of your essay.
Preview the Main Points : This gives the reader an idea of what to expect and how you will support your thesis.
Keep it Concise and Clear : Avoid going into too much detail or including information not directly relevant to your topic.
Revise : Revise your introduction after you’ve written the rest of your essay to ensure it aligns with your final argument.

Here’s an example of an essay introduction paragraph about the importance of education:

Education is often viewed as a fundamental human right and a key social and economic development driver. As Nelson Mandela once famously said, “Education is the most powerful weapon which you can use to change the world.” It is the key to unlocking a wide range of opportunities and benefits for individuals, societies, and nations. In today’s constantly evolving world, education has become even more critical. It has expanded beyond traditional classroom learning to include digital and remote learning, making education more accessible and convenient. This essay will delve into the importance of education in empowering individuals to achieve their dreams, improving societies by promoting social justice and equality, and driving economic growth by developing a skilled workforce and promoting innovation.

This introduction paragraph example includes a hook (the quote by Nelson Mandela), provides some background information on education, and states the thesis statement (the importance of education).

This is one of the key steps in how to write an essay introduction. Crafting a compelling hook is vital because it sets the tone for your entire essay and determines whether your readers will stay interested. A good hook draws the reader in and sets the stage for the rest of your essay.

Avoid Dry Fact : Instead of simply stating a bland fact, try to make it engaging and relevant to your topic. For example, if you’re writing about the benefits of exercise, you could start with a startling statistic like, “Did you know that regular exercise can increase your lifespan by up to seven years?”
Avoid Using a Dictionary Definition : While definitions can be informative, they’re not always the most captivating way to start an essay. Instead, try to use a quote, anecdote, or provocative question to pique the reader’s interest. For instance, if you’re writing about freedom, you could begin with a quote from a famous freedom fighter or philosopher.
Do Not Just State a Fact That the Reader Already Knows : This ties back to the first point—your hook should surprise or intrigue the reader. For Here’s an introduction paragraph example, if you’re writing about climate change, you could start with a thought-provoking statement like, “Despite overwhelming evidence, many people still refuse to believe in the reality of climate change.”

Including background information in the introduction section of your essay is important to provide context and establish the relevance of your topic. When writing the background information, you can follow these steps:

Start with a General Statement:  Begin with a general statement about the topic and gradually narrow it down to your specific focus. For example, when discussing the impact of social media, you can begin by making a broad statement about social media and its widespread use in today’s society, as follows: “Social media has become an integral part of modern life, with billions of users worldwide.”
Define Key Terms : Define any key terms or concepts that may be unfamiliar to your readers but are essential for understanding your argument.
Provide Relevant Statistics:  Use statistics or facts to highlight the significance of the issue you’re discussing. For instance, “According to a report by Statista, the number of social media users is expected to reach 4.41 billion by 2025.”
Discuss the Evolution:  Mention previous research or studies that have been conducted on the topic, especially those that are relevant to your argument. Mention key milestones or developments that have shaped its current impact. You can also outline some of the major effects of social media. For example, you can briefly describe how social media has evolved, including positives such as increased connectivity and issues like cyberbullying and privacy concerns.
Transition to Your Thesis:  Use the background information to lead into your thesis statement, which should clearly state the main argument or purpose of your essay. For example, “Given its pervasive influence, it is crucial to examine the impact of social media on mental health.”

A thesis statement is a concise summary of the main point or claim of an essay, research paper, or other type of academic writing. It appears near the end of the introduction. Here’s how to write a thesis statement:

Identify the topic:  Start by identifying the topic of your essay. For example, if your essay is about the importance of exercise for overall health, your topic is “exercise.”
State your position:  Next, state your position or claim about the topic. This is the main argument or point you want to make. For example, if you believe that regular exercise is crucial for maintaining good health, your position could be: “Regular exercise is essential for maintaining good health.”
Support your position:  Provide a brief overview of the reasons or evidence that support your position. These will be the main points of your essay. For example, if you’re writing an essay about the importance of exercise, you could mention the physical health benefits, mental health benefits, and the role of exercise in disease prevention.
Make it specific:  Ensure your thesis statement clearly states what you will discuss in your essay. For example, instead of saying, “Exercise is good for you,” you could say, “Regular exercise, including cardiovascular and strength training, can improve overall health and reduce the risk of chronic diseases.”

Examples of essay introduction

Here are examples of essay introductions for different types of essays:

Argumentative Essay Introduction Example:

Topic: Should the voting age be lowered to 16?

“The question of whether the voting age should be lowered to 16 has sparked nationwide debate. While some argue that 16-year-olds lack the requisite maturity and knowledge to make informed decisions, others argue that doing so would imbue young people with agency and give them a voice in shaping their future.”

Expository Essay Introduction Example

Topic: The benefits of regular exercise

“In today’s fast-paced world, the importance of regular exercise cannot be overstated. From improving physical health to boosting mental well-being, the benefits of exercise are numerous and far-reaching. This essay will examine the various advantages of regular exercise and provide tips on incorporating it into your daily routine.”

Text: “To Kill a Mockingbird” by Harper Lee

“Harper Lee’s novel, ‘To Kill a Mockingbird,’ is a timeless classic that explores themes of racism, injustice, and morality in the American South. Through the eyes of young Scout Finch, the reader is taken on a journey that challenges societal norms and forces characters to confront their prejudices. This essay will analyze the novel’s use of symbolism, character development, and narrative structure to uncover its deeper meaning and relevance to contemporary society.”

Engaging and Relevant First Sentence : The opening sentence captures the reader’s attention and relates directly to the topic.
Background Information : Enough background information is introduced to provide context for the thesis statement.
Definition of Important Terms : Key terms or concepts that might be unfamiliar to the audience or are central to the argument are defined.
Clear Thesis Statement : The thesis statement presents the main point or argument of the essay.
Relevance to Main Body : Everything in the introduction directly relates to and sets up the discussion in the main body of the essay.

Writing a strong introduction is crucial for setting the tone and context of your essay. Here are the key takeaways for how to write essay introduction: 3

Hook the Reader : Start with an engaging hook to grab the reader’s attention. This could be a compelling question, a surprising fact, a relevant quote, or an anecdote.
Provide Background : Give a brief overview of the topic, setting the context and stage for the discussion.
Thesis Statement : State your thesis, which is the main argument or point of your essay. It should be concise, clear, and specific.
Preview the Structure : Outline the main points or arguments to help the reader understand the organization of your essay.
Keep it Concise : Avoid including unnecessary details or information not directly related to your thesis.
Revise and Edit : Revise your introduction to ensure clarity, coherence, and relevance. Check for grammar and spelling errors.
Seek Feedback : Get feedback from peers or instructors to improve your introduction further.

The purpose of an essay introduction is to give an overview of the topic, context, and main ideas of the essay. It is meant to engage the reader, establish the tone for the rest of the essay, and introduce the thesis statement or central argument.

An essay introduction typically ranges from 5-10% of the total word count. For example, in a 1,000-word essay, the introduction would be roughly 50-100 words. However, the length can vary depending on the complexity of the topic and the overall length of the essay.

An essay introduction is critical in engaging the reader and providing contextual information about the topic. To ensure its effectiveness, consider incorporating these key elements: a compelling hook, background information, a clear thesis statement, an outline of the essay’s scope, a smooth transition to the body, and optional signposting sentences.

The process of writing an essay introduction is not necessarily straightforward, but there are several strategies that can be employed to achieve this end. When experiencing difficulty initiating the process, consider the following techniques: begin with an anecdote, a quotation, an image, a question, or a startling fact to pique the reader’s interest. It may also be helpful to consider the five W’s of journalism: who, what, when, where, why, and how. For instance, an anecdotal opening could be structured as follows: “As I ascended the stage, momentarily blinded by the intense lights, I could sense the weight of a hundred eyes upon me, anticipating my next move. The topic of discussion was climate change, a subject I was passionate about, and it was my first public speaking event. Little did I know , that pivotal moment would not only alter my perspective but also chart my life’s course.”

Crafting a compelling thesis statement for your introduction paragraph is crucial to grab your reader’s attention. To achieve this, avoid using overused phrases such as “In this paper, I will write about” or “I will focus on” as they lack originality. Instead, strive to engage your reader by substantiating your stance or proposition with a “so what” clause. While writing your thesis statement, aim to be precise, succinct, and clear in conveying your main argument.

To create an effective essay introduction, ensure it is clear, engaging, relevant, and contains a concise thesis statement. It should transition smoothly into the essay and be long enough to cover necessary points but not become overwhelming. Seek feedback from peers or instructors to assess its effectiveness.

References

Cui, L. (2022). Unit 6 Essay Introduction.  Building Academic Writing Skills .
West, H., Malcolm, G., Keywood, S., & Hill, J. (2019). Writing a successful essay.  Journal of Geography in Higher Education ,  43 (4), 609-617.
Beavers, M. E., Thoune, D. L., & McBeth, M. (2023). Bibliographic Essay: Reading, Researching, Teaching, and Writing with Hooks: A Queer Literacy Sponsorship. College English, 85(3), 230-242.

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Similarity Checks: The Author’s Guide to Plagiarism and Responsible Writing

Types of plagiarism and 6 tips to avoid it in your writing , you may also like, how paperpal can boost comprehension and foster interdisciplinary..., what is the importance of a concept paper..., how to write the first draft of a..., mla works cited page: format, template & examples, how to ace grant writing for research funding..., powerful academic phrases to improve your essay writing , how to write a high-quality conference paper, how paperpal’s research feature helps you develop and..., how paperpal is enhancing academic productivity and accelerating..., academic editing: how to self-edit academic text with....

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In this part, we continue to briefly summarize our empirical analyses based on the ARDL model techniques adopted. The findings of this study are summarized below. Firstly, the objectives of the study were analyzed using cointegration analysis tests and the ARDL bound test on the national level data, covering the period of 2004-2016. The first step taken in the cointegration test involved carrying out a unit root test for each variable and determining their order of integration. The results indicated […]

GDP and Unemployment

The gross domestic product (GDP) is the measure of goods and services produced in a country during a year (Boone 2016). When GDP is increasing, the economy is in expansion mode. When GDP is decreasing, the economy is in a recession. Economic growth occurs when the GDP increases over time. When economists use the term "economic growth," they are normally referring to sustained increases that occur over a substantial time period, rather than the quarterly changes often discussed in the […]

Unemployment in Society

When workers become involuntarily unemployed, there are several costs associated which they will unquestionably have to bear. These could come from the fact that there are certain firm-specific skills that an individual has, thus leading to scarce opportunities for individuals searching for jobs matching their specific skills (Lazear, 2003). Moreover, the costs could be associated with the model proposed by Harris and Holmstrom (1982), in which they stated that the workers have to be assumed to be risk averse and […]

An Issue of Tobacco Taxes

Tobacco tax increases could drive youth smoking into near-nonexistence if done correctly. Sin taxes are a series of taxes aimed at products deemed not beneficial or otherwise destructive ("Sin Taxes" par. 1). Taxes aimed at tobacco products, sometimes referred to as tobacco taxes, create numerous benefits for the country. Money generated by tobacco taxes is produced at the local, state, and federal levels (par. 2). Tobacco taxes create incentives to quit usage because of health benefits deriving from it (Campaign […]

Long-term Unemployment

Long-term unemployment is when workers are jobless for the time set by the federal government which may enable some to receive unemployment benefits. In order to receive unemployment benefits by the Bureau of Statistics, they must actively seek employment for at least 4 weeks prior to receiving unemployment benefits. Many unemployed people become disheartened about the possibility of receiving unemployment benefits that they just lose hope. Everyone may not be recognized in this area to show the true numbers of […]

Unemployment in Zimbabwe

Unemployment rate is equivalent to the economically active group of people that is unemployed and more so looking for jobs. During the precolonial era, Zimbabwe had one of the strongest economies in Africa and at one point dubbed the "Bread basket of Africa". The British colonized Zimbabwe and therefore in the process; managed to bring investors into the country that was rich in minerals such as gold, platinum and silver. Health sectors, education and agriculture were by far the best […]

Workforce Performance

Background The work will cover the company MyEmploysure. Its main aim is to help Australian businesses establish the workplace structures that will be compliant to the needs of the employees. Furthermore, it helps other businesses grow in what they do by managing their human resources. The service provided involves getting to know all of the legislation that has become available in the country and provide the best service in terms of differing needs of the employees. The main aim of […]

Discussion of Government and Unemployment Insurance

Discussion 1 a). Medicare is a program by the federal government in US, which offers health cover to its citizens. The package is extended to cover old people who have 65 years and above as well as young individuals who have disabilities. The health cover plays a major role in providing financial plus health security paying many medical health services to persons it covers (Edwards, 2014). Major characteristics of this program include; many people using the program have medical problems […]

Production Planning Processes

Founded in 1944, Burgmaster took a stable market position in the machine tool industry. Its stability was propagated by its turret-head drill, which was based by Fredrick Burg. Its capacity and ability to reduce production costs made the Burgmaster drill a favorite tool in the then budding aerospace industry. With the early market, dominance came bigger plans. The Burg family publicized the company in 1961 by issuing stock on over-the-counter market (Misa & Thomas 174). Five years down the line, […]

How to Write Essay About Economics

Economics and finance are closely related fields of study within the STEM subjects in college, often presenting a significant challenge to many students due to their complex theories and intricate mathematical models. The similarity in their foundational concepts can sometimes lead to confusion and difficulty in grasping the distinct nuances of each discipline. However, students facing these struggles have a reliable ally in Papersowl, an academic support platform that specializes in providing expert finance assignment assistance , economics homework help and other STEM subjects.

Crafting an essay on economics requires a clear understanding of economic theories, principles, and their real-world applications. Here's a comprehensive guide to help you write a well-structured and insightful economics essay:

Understanding the Essay Topic

Begin by thoroughly understanding the specific aspect of economics you're discussing. Economics covers a wide range of topics, from microeconomic concepts like supply and demand to macroeconomic issues like inflation or international trade. Determine the nature of the essay – is it analytical, argumentative, or descriptive? This will shape your approach and style of writing.

Conducting Comprehensive Research

Research is key to a successful economics essay. Utilize credible sources, including academic journals, economic textbooks, and reputable online resources. Focus on gathering data, statistics, case studies, and expert opinions that are relevant to your topic. Understanding both historical contexts and current economic trends can provide a comprehensive perspective on the subject.

Developing a Thesis Statement

Your thesis statement should clearly articulate the main argument or perspective of your essay. In economics, this might be a stance on a particular economic policy, an analysis of an economic trend, or an argument about a specific economic theory. Ensure your thesis is concise, direct, and lays the groundwork for your argument.

Planning the Essay Structure

Organize your essay in a clear, logical manner. Start with an introduction that sets the context and outlines your thesis statement. In the body, divide your main points into paragraphs, each focusing on a specific aspect of your argument. Use examples, data, and economic theories to support your points. Conclude by summarizing your main arguments and restating your thesis in light of the evidence you've presented.

Writing the Essay

Use clear and precise language in your writing. Economic concepts can be complex, so it's important to explain them clearly and avoid unnecessary jargon. Present your arguments logically, supporting them with data and examples. Be analytical and critical, especially when discussing economic models and theories.

Incorporating Data and Analysis

Economics essays often rely on data and statistical analysis. Ensure that any data used is relevant, up to date, and accurately interpreted. Graphs and charts can be effective in illustrating economic trends and relationships. Analyze the data to demonstrate how it supports your argument or provides insights into the economic issue you're discussing.

Citing Your Sources

Proper citation is essential in academic writing. Use an appropriate citation style (such as APA, MLA, or Chicago) and consistently cite all your sources, including data, theories, and quotations.

Editing and Proofreading

Review your essay for clarity, coherence, and logical flow of ideas. Check for accuracy in your economic arguments and ensure that your analysis is thorough. Proofread for grammar, spelling, and formatting issues. It can be beneficial to have someone else read your essay for feedback, especially if they have knowledge in economics.

Writing an essay on economics involves balancing in-depth understanding of economic theories and real-world examples, critical analysis, and effective communication. By carefully researching your topic, structuring your essay logically, and presenting your arguments with clarity and precision, you can create a compelling and informative economics essay that demonstrates your grasp of this dynamic field.

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Example 25-Mark Essay in style of AQA Economics A-level

Below is an example model answer to a 25 mark question in the style of AQA Economics A-level.

To practise your AQA exam technique with 2024 practice questions, click the button below:

Question for model answer

Consider the following question. I have written this question in the style of a 25-mark AQA Economics A-level question for section B:

Taking effect from 1st April 2023, the UK Government has committed to increasing the corporation tax rate from 19% to 25% for companies with profits above £250,000 per year. For firms with profits below £50,000, there is no increase in corporation tax rates. But for firms with profits between £50,000 and £250,000 there will be a smaller increase in corporation tax rates.

(Source: here )

Evaluate the effects on the UK economy of increasing corporation tax rates on firms making high profits (25 marks) .

This is a key macroeconomics essay on current affairs. A quick essay plan is here:

Define key terms.
Laffer curve – higher government revenue.
Evaluation – position on Laffer curve.
AD effect – lower investment and negative multiplier effect.
Evaluation – proportion of AD that comes from investment.
LRAS effect – reduced incentives and productivity.
Evaluation – need to compare corporation tax rates to those of other economies.

Conclusion.

Possible model answer

Corporation tax is a tax on firms’ profits. Aggregate demand (AD) is the total demand in the economy, AD = C+I+G+X-M.

Increasing corporation tax rates may increase tax revenue for the UK Government. The Laffer curve shows this. An increase in tax rates from T to T1 raises tax revenue from R to R1. This revenue could go towards reducing the budget deficit. The government’s budget deficit is very high at 4.2% of the UK’s GDP in 2023-24. This is because of government spending on Covid support programmes such as the furlough scheme, energy subsidies and other tax cuts. Reducing the budget deficit may lead to government borrowing and hence reduced debt interest payments . With less spending on debt interest the UK Government could choose to spend more money in the future on other priorities such as healthcare spending. Sounder public finances might also make investors more confident in the UK Government’s ability to make bond repayments. This may reduce the interest rates at which investors are willing to buy government bonds and thus reduce future borrowing costs.

Whether the tax increase raises government revenue depends on the position of the UK economy on the Laffer curve. If instead the economy is at point (T1,R1) before raising corporation taxes, then increasing the corporation tax rate to T2 may decrease revenue to R. This is because a corporation tax rise may reduce incentives to start or grow a business, reducing the size of the tax base. The UK Government does predict that tax revenue would rise by over £10bn a year because of the corporation tax rate rise. With corporate tax rates relatively low now, it is likely that there will be higher revenue. But the effect of higher taxes on incentives may reduce the extent to which revenue increases.

Increasing corporation tax rates “from 19% to 25% for companies with profits above £250,000 per year” reduces the post-tax profits of these firms. This leaves reduced funds for investment, so investment may fall. Also as firms know any future profits will be taxed at a higher rate, this will disincentivise investment further. This is because firms will have reduced returns (lower post-tax profits) from any new investment. So investment falls and as investment is a component of aggregate demand (AD=C+I+G+X-M), aggregate demand shifts left from AD to AD1. This may cause a negative multiplier effect . This is where a fall in investment leads to a larger than proportionate fall in A. Lower investment results in lower incomes for firms and cuts in wages, so consumers cut their spending, meaning consumption also falls and so on. So AD shifts further left to AD2. This results in lower real GDP as real GDP falls from Y to Y2. Hence corporation tax may lower real GDP, likely resulting in lower living standards.

However this argument depends on the proportion of AD influenced by the corporation tax rate rise. Only firms making larger profits are facing a corporation tax rise. So firms making lower profits, for example small businesses, are less likely to reduce their investment. Also consumption is the largest component of AD, making up roughly 60% of AD, not investment. So a given percentage fall in investment may have only a smaller effect on AD. Corporation tax is likely to reduce AD leading to lower real GDP. But these impacts are limited by the relative importance of investment to AD and the design of the policy to target high profit firms only.

Decreased investment can also influence the supply side of the economy. Lower investment could mean reduced firm spending on capital goods and human capital. So this could reduce productivity and hence the productive capacity of the economy. This means the LRAS could shift to the left. Higher corporation taxes could mean higher business costs, shifting the short-run aggregate supply curve left too. Lower productivity and higher business costs could lead to a higher price level in the UK economy, reducing the price competitiveness of UK exports which may widen the current account deficit. Productivity for the UK economy is 15% below the average of other G7 economies (as of 2015), so corporate tax rises could further worsen this UK productivity gap with other nations. There may also be fewer businesses choosing to set up in the UK, preferring to set up abroad in locations with lower taxes. This would further reduce the productive potential of the economy, compared to a situation of lower corporation tax rates.

However this depends on the level of corporation tax rates in other economies . The UK has the lowest corporate tax rate among the G7 economies, even after the tax rise. Hence there may be fewer incentives to set up a business abroad, so the effect on competitiveness is reduced. Also many economies have agreed to a global minimum corporation tax of 15%, further reducing the risk to competitiveness from raising corporation taxes. While the corporation tax rate rise may reduce investment, it is less likely to have a significant impact on competitiveness.

Overall raising corporation tax on firms making high profits is likely to be effective in raising revenue. While raising corporation tax will reduce aggregate demand and aggregate supply, by raising taxes only on higher-profit firms, the impact is limited. The impact of the tax rise does depend on how other countries respond – if other countries maintain or reduce their tax rates to attract more businesses, then increasing corporate taxes could significantly reduce the incentive for international businesses to set up in the UK. However, given the increasing degree of tax cooperation globally , as shown by the 15% minimum corporate tax rate agreement, it seems likely that countries will not seek to undercut each other’s corporate tax rates.

Application is throughout using examples from the short extract and from own knowledge to support analysis and evaluation.

Analysis is detailed, using chains of reasoning and graphs to support the answer.

Evaluation is also detailed, making use of chains of reasoning and where relevant, data about the economy. The conclusion addresses the question and justifies the answer.

Note for the conclusion you could have picked another side for this policy too depending on the arguments used. You could also use other possible points – there is no right way of doing this. For example with interest rates at historical lows, how does that impact the cost of government borrowing and the necessity of raising taxes? What other factors may matter for investment beside corporate tax rates?

This essay would likely score level 5 according to AQA Economics A-level criteria.

For more guidance on AQA exam technique (25 markers, 15 markers, 9 markers and more), check out the blue button below:

How should you structure a 25 marker economics essay?

Introduction

Depending on depth of your previous points, add another round of analysis and evaluation.

For more information on AQA Economics essay structure, I recommend the following article linked here .

How should you write a conclusion for 25 markers economics?

A conclusion has these key elements:

Answer the question.
Justify your answer in step 1.
Consider other evaluation points, including real-world context, for further justification or that may go against your answer.

How should you evaluate in economics 25 markers?

I recommend the “depends on” structure for AQA Economics style evaluation. For more information on this, see my AQA Economics style evaluation guide here .

More Resources

For AQA style practice questions on recent current affairs, click the blue button below:

If you are interested in more A-level Economics resources, please feel free to click the button below:

About the author

Helping economics students online since 2015. Previously an economist, I now provide economics resources on tfurber.com and tutor A Level Economics students. Read more about me here .

Latest Posts

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Home — Essay Samples — Economics — American Dream — The Contemporary Relevance of the American Dream

The Contemporary Relevance of The American Dream

Categories: American Dream

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Published: Jun 6, 2024

Words: 685 | Pages: 2 | 4 min read

Introduction, economic mobility and the american dream, the role of education in achieving the american dream, social equity and its impact on the american dream.

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34 Compelling Compare and Contrast Essay Examples

Topics cover education, technology, pop culture, sports, animals, and more.

Do your writers need some inspiration? If you’re teaching students to write a compare and contrast essay, a strong example is an invaluable tool. This round-up of our favorite compare and contrast essays covers a range of topics and grade levels, so no matter your students’ interests or ages, you’ll always have a helpful example to share. You’ll find links to full essays about education, technology, pop culture, sports, animals, and more. (Need compare-and-contrast essay topic ideas? Check out our big list of compare and contrast essay topics! )

What is a compare and contrast essay?

Education and parenting essays
Technology essays
Pop culture essays
Historical and political essays
Sports essays
Lifestyle essays
Healthcare essays
Animal essays

When choosing a compare and contrast essay example to include on this list, we considered the structure. A strong compare and contrast essay begins with an introductory paragraph that includes background context and a strong thesis. Next, the body includes paragraphs that explore the similarities and differences. Finally, a concluding paragraph restates the thesis, draws any necessary inferences, and asks any remaining questions.

A compare and contrast essay example can be an opinion piece comparing two things and making a conclusion about which is better. For example, “Is Tom Brady really the GOAT?” It can also help consumers decide which product is better suited to them. Should you keep your subscription to Hulu or Netflix? Should you stick with Apple or explore Android? Here’s our list of compare and contrast essay samples categorized by subject.

Education and Parenting Compare and Contrast Essay Examples

Private school vs. public school.

Sample lines: “Deciding whether to send a child to public or private school can be a tough choice for parents. … Data on whether public or private education is better can be challenging to find and difficult to understand, and the cost of private school can be daunting. … According to the most recent data from the National Center for Education Statistics, public schools still attract far more students than private schools, with 50.7 million students attending public school as of 2018. Private school enrollment in the fall of 2017 was 5.7 million students, a number that is down from 6 million in 1999.”

Read the full essay: Private School vs. Public School at U.S. News and World Report

Homeschool vs. Public School: How Home Schooling Will Change Public Education

Sample lines: “Home schooling, not a present threat to public education, is nonetheless one of the forces that will change it. If the high estimates of the number of children in home schools (1.2 million) is correct, then the home-schooling universe is larger than the New York City public school system and roughly the size of the Los Angeles and Chicago public school systems combined. … Critics charge that three things are wrong with home schooling: harm to students academically; harm to society by producing students who are ill-prepared to function as democratic citizens and participants in a modern economy; and harm to public education, making it more difficult for other parents to educate their children. … It is time to ask whether home schooling, charters, and vouchers should be considered parts of a broad repertoire of methods that we as a society use to educate our children.”

Read the full essay: Homeschool vs. Public School: How Home Schooling Will Change Public Education at Brookings

Which parenting style is right for you?

Sample lines: “The three main types of parenting are on a type of ‘sliding scale’ of parenting, with permissive parenting as the least strict type of parenting. Permissive parenting typically has very few rules, while authoritarian parenting is thought of as a very strict, rule-driven type of parenting.”

Read the full essay: What Is Authoritative Parenting? at Healthline

Masked Education? The Benefits and Burdens of Wearing Face Masks in Schools During the Pandemic

Sample lines: “Face masks can prevent the spread of the virus SARS-CoV-2. … However, covering the lower half of the face reduces the ability to communicate. Positive emotions become less recognizable, and negative emotions are amplified. Emotional mimicry, contagion, and emotionality in general are reduced and (thereby) bonding between teachers and learners, group cohesion, and learning—of which emotions are a major driver. The benefits and burdens of face masks in schools should be seriously considered and made obvious and clear to teachers and students.”

Read the full essay: Masked Education? The Benefits and Burdens of Wearing Face Masks in Schools During the Pandemic at National Library of Medicine

To Ban or Not: What Should We Really Make of Book Bans?

Sample lines: “In recent years, book bans have soared in schools, reaching an all-time high in fall 2022. … The challenge of balancing parent concerns about ‘age appropriateness’ against the imperative of preparing students to be informed citizens is still on the minds of many educators today. … Such curricular decision-making should be left to the professionals, argues English/language arts instructional specialist Miriam Plotinsky. ‘Examining texts for their appropriateness is not a job that noneducators are trained to do,’ she wrote last year, as the national debate over censorship resurged with the news that a Tennessee district banned the graphic novel Maus just days before Holocaust Remembrance Day.”

Read the full essay: To Ban or Not: What Should We Really Make of Book Bans? at Education Week

Technology Compare and Contrast Essay Examples

Netflix vs. hulu 2023: which is the best streaming service.

Sample lines: “Netflix fans will point to its high-quality originals, including The Witcher , Stranger Things , Emily in Paris , Ozark , and more, as well as a wide variety of documentaries like Cheer , The Last Dance , My Octopus Teacher , and many others. It also boasts a much larger subscription base, with more than 222 million subscribers compared to Hulu’s 44 million. Hulu, on the other hand, offers a variety of extras such as HBO and Showtime—content that’s unavailable on Netflix. Its price tag is also cheaper than the competition, with its $7/mo. starting price, which is a bit more palatable than Netflix’s $10/mo. starting price.”

Read the full essay: Netflix vs. Hulu 2023: Which is the best streaming service? at TV Guide

Kindle vs. Hardcover: Which is easier on the eyes?

Sample lines: “In the past, we would have to drag around heavy books if we were really into reading. Now, we can have all of those books, and many more, stored in one handy little device that can easily be stuffed into a backpack, purse, etc. … Many of us still prefer to hold an actual book in our hands. … But, whether you use a Kindle or prefer hardcover books or paperbacks, the main thing is that you enjoy reading. A story in a book or on a Kindle device can open up new worlds, take you to fantasy worlds, educate you, entertain you, and so much more.”

Read the full essay: Kindle vs. Hardcover: Which is easier on the eyes? at Books in a Flash

iPhone vs. Android: Which is better for you?

Sample lines: “The iPhone vs. Android comparison is a never-ending debate on which one is best. It will likely never have a real winner, but we’re going to try and help you to find your personal pick all the same. iOS 17 and Android 14—the latest versions of the two operating systems—both offer smooth and user-friendly experiences, and several similar or identical features. But there are still important differences to be aware of. … Owning an iPhone is a simpler, more convenient experience. There’s less to think about. … Android-device ownership is a bit harder. … Yet it’s simultaneously more freeing, because it offers more choice.”

Read the full essay: iPhone vs. Android: Which is better for you? at Tom’s Guide

Cutting the cord: Is streaming or cable better for you?

Sample lines: “Cord-cutting has become a popular trend in recent years, thanks to the rise of streaming services. For those unfamiliar, cord cutting is the process of canceling your cable subscription and instead, relying on streaming platforms such as Netflix and Hulu to watch your favorite shows and movies. The primary difference is that you can select your streaming services à la carte while cable locks you in on a set number of channels through bundles. So, the big question is: should you cut the cord?”

Read the full essay: Cutting the cord: Is streaming or cable better for you? at BroadbandNow

PS5 vs. Nintendo Switch

Sample lines: “The crux of the comparison comes down to portability versus power. Being able to migrate fully fledged Nintendo games from a big screen to a portable device is a huge asset—and one that consumers have taken to, especially given the Nintendo Switch’s meteoric sales figures. … It is worth noting that many of the biggest franchises like Call of Duty, Madden, modern Resident Evil titles, newer Final Fantasy games, Grand Theft Auto, and open-world Ubisoft adventures like Assassin’s Creed will usually skip Nintendo Switch due to its lack of power. The inability to play these popular games practically guarantees that a consumer will pick up a modern system, while using the Switch as a secondary device.”

Read the full essay: PS5 vs. Nintendo Switch at Digital Trends

What is the difference between Facebook and Instagram?

Sample lines: “Have you ever wondered what is the difference between Facebook and Instagram? Instagram and Facebook are by far the most popular social media channels used by digital marketers. Not to mention that they’re also the biggest platforms used by internet users worldwide. So, today we’ll look into the differences and similarities between these two platforms to help you figure out which one is the best fit for your business.”

Read the full essay: What is the difference between Facebook and Instagram? at SocialBee

Digital vs. Analog Watches—What’s the Difference?

Sample lines: “In short, digital watches use an LCD or LED screen to display the time. Whereas, an analog watch features three hands to denote the hour, minutes, and seconds. With the advancement in watch technology and research, both analog and digital watches have received significant improvements over the years. Especially in terms of design, endurance, and accompanying features. … At the end of the day, whether you go analog or digital, it’s a personal preference to make based on your style, needs, functions, and budget.”

Read the full essay: Digital vs. Analog Watches—What’s the Difference? at Watch Ranker

AI Art vs. Human Art: A Side-by-Side Analysis

Sample lines: “Art has always been a reflection of human creativity, emotion, and cultural expression. However, with the rise of artificial intelligence (AI), a new form of artistic creation has emerged, blurring the lines between what is created by human hands and what is generated by algorithms. … Despite the excitement surrounding AI Art, it also raises complex ethical, legal, and artistic questions that have sparked debates about the definition of art, the role of the artist, and the future of art production. … Regardless of whether AI Art is considered ‘true’ art, it is crucial to embrace and explore the vast possibilities and potential it brings to the table. The transformative influence of AI art on the art world is still unfolding, and only time will reveal its true extent.”

Read the full essay: AI Art vs. Human Art: A Side-by-Side Analysis at Raul Lara

Pop Culture Compare and Contrast Essay Examples

Christina aguilera vs. britney spears.

Sample lines: “Britney Spears vs. Christina Aguilera was the Coke vs. Pepsi of 1999 — no, really, Christina repped Coke and Britney shilled for Pepsi. The two teen idols released debut albums seven months apart before the turn of the century, with Britney’s becoming a standard-bearer for bubblegum pop and Aguilera’s taking an R&B bent to show off her range. … It’s clear that Spears and Aguilera took extremely divergent paths following their simultaneous breakout successes.”

Read the full essay: Christina Aguilera vs. Britney Spears at The Ringer

Harry Styles vs. Ed Sheeran

Sample lines: “The world heard our fantasies and delivered us two titans simultaneously—we have been blessed with Ed Sheeran and Harry Styles. Our cup runneth over; our bounty is immeasurable. More remarkable still is the fact that both have released albums almost at the same time: Ed’s third, Divide , was released in March and broke the record for one-day Spotify streams, while Harry’s frenziedly anticipated debut solo, called Harry Styles , was released yesterday.”

Read the full essay: Harry Styles versus Ed Sheeran at Belfast Telegraph

The Grinch: Three Versions Compared

Sample lines: “Based on the original story of the same name, this movie takes a completely different direction by choosing to break away from the cartoony form that Seuss had established by filming the movie in a live-action form. Whoville is preparing for Christmas while the Grinch looks down upon their celebrations in disgust. Like the previous film, The Grinch hatches a plan to ruin Christmas for the Who’s. … Like in the original Grinch, he disguises himself as Santa Claus, and makes his dog, Max, into a reindeer. He then takes all of the presents from the children and households. … Cole’s favorite is the 2000 edition, while Alex has only seen the original. Tell us which one is your favorite.”

Read the full essay: The Grinch: Three Versions Compared at Wooster School

Historical and Political Compare and Contrast Essay Examples

Malcolm x vs. martin luther king jr.: comparison between two great leaders’ ideologies .

Sample lines: “Although they were fighting for civil rights at the same time, their ideology and way of fighting were completely distinctive. This can be for a plethora of reasons: background, upbringing, the system of thought, and vision. But keep in mind, they devoted their whole life to the same prospect. … Through boycotts and marches, [King] hoped to end racial segregation. He felt that the abolition of segregation would improve the likelihood of integration. Malcolm X, on the other hand, spearheaded a movement for black empowerment.”

Read the full essay: Malcolm X vs. Martin Luther King Jr.: Comparison Between Two Great Leaders’ Ideologies at Melaninful

Contrast Between Obama and Trump Has Become Clear

Sample lines: “The contrast is even clearer when we look to the future. Trump promises more tax cuts, more military spending, more deficits and deeper cuts in programs for the vulnerable. He plans to nominate a coal lobbyist to head the Environmental Protection Agency. … Obama says America must move forward, and he praises progressive Democrats for advocating Medicare for all. … With Obama and then Trump, Americans have elected two diametrically opposed leaders leading into two very different directions.”

Read the full essay: Contrast Between Obama and Trump Has Become Clear at Chicago Sun-Times

Sports Compare and Contrast Essay Examples

Lebron james vs. kobe bryant: a complete comparison.

Sample lines: “LeBron James has achieved so much in his career that he is seen by many as the greatest of all time, or at least the only player worthy of being mentioned in the GOAT conversation next to Michael Jordan. Bridging the gap between Jordan and LeBron though was Kobe Bryant, who often gets left out of comparisons and GOAT conversations. … Should his name be mentioned more though? Can he compare to LeBron or is The King too far past The Black Mamba in historical rankings already?”

Read the full essay: LeBron James vs. Kobe Bryant: A Complete Comparison at Sportskeeda

NFL: Tom Brady vs. Peyton Manning Rivalry Comparison

Sample lines: “Tom Brady and Peyton Manning were largely considered the best quarterbacks in the NFL for the majority of the time they spent in the league together, with the icons having many head-to-head clashes in the regular season and on the AFC side of the NFL Playoffs. Manning was the leader of the Indianapolis Colts of the AFC South. … Brady spent his career as the QB of the AFC East’s New England Patriots, before taking his talents to Tampa Bay. … The reality is that winning is the most important aspect of any career, and Brady won more head-to-head matchups than Manning did.”

Read the full essay: NFL: Tom Brady vs. Peyton Manning Rivalry Comparison at Sportskeeda

The Greatest NBA Franchise Ever: Boston Celtics or Los Angeles Lakers?

Sample lines: “The Celtics are universally considered as the greatest franchise in NBA history. But if you take a close look at the numbers, there isn’t really too much separation between them and their arch-rival Los Angeles Lakers. In fact, you can even make a good argument for the Lakers. … In 72 seasons played, the Boston Celtics have won a total of 3,314 games and lost 2,305 or a .590 winning mark. On the other hand, the Los Angeles Lakers have won 3,284 of 5,507 total games played or a slightly better winning record of .596. … But while the Lakers have the better winning percentage, the Celtics have the advantage over them in head-to-head competition.”

Read the full essay: The Greatest NBA Franchise Ever: Boston Celtics or Los Angeles Lakers? at Sport One

Is Soccer Better Than Football?

Sample lines: “Is soccer better than football? Soccer and football lovers have numerous reasons to support their sport of choice. Both keep the players physically fit and help to bring people together for an exciting cause. However, soccer has drawn more numbers globally due to its popularity in more countries.”

Read the full essay: Is Soccer Better Than Football? at Sports Brief

Lifestyle Choices Compare and Contrast Essay Examples

Mobile home vs. tiny house: similarities, differences, pros & cons.

Sample lines: “Choosing the tiny home lifestyle enables you to spend more time with those you love. The small living space ensures quality bonding time rather than hiding away in a room or behind a computer screen. … You’ll be able to connect closer to nature and find yourself able to travel the country at any given moment. On the other hand, we have the mobile home. … They are built on a chassis with transportation in mind. … They are not built to be moved on a constant basis. … While moving the home again *is* possible, it may cost you several thousand dollars.”

Read the full essay: Mobile Home vs. Tiny House: Similarities, Differences, Pros & Cons at US Mobile Home Pros

Whole Foods vs. Walmart: The Story of Two Grocery Stores

Sample lines: “It is clear that both stores have very different stories and aims when it comes to their customers. Whole Foods looks to provide organic, healthy, exotic, and niche products for an audience with a very particular taste. … Walmart, on the other hand, looks to provide the best deals, every possible product, and every big brand for a broader audience. … Moreover, they look to make buying affordable and accessible, and focus on the capitalist nature of buying.”

Read the full essay: Whole Foods vs. Walmart: The Story of Two Grocery Stores at The Archaeology of Us

Artificial Grass vs. Turf: The Real Differences Revealed

Sample lines: “The key difference between artificial grass and turf is their intended use. Artificial turf is largely intended to be used for sports, so it is shorter and tougher. On the other hand, artificial grass is generally longer, softer and more suited to landscaping purposes. Most homeowners would opt for artificial grass as a replacement for a lawn, for example. Some people actually prefer playing sports on artificial grass, too … artificial grass is often softer and more bouncy, giving it a feel similar to playing on a grassy lawn. … At the end of the day, which one you will choose will depend on your specific household and needs.”

Read the full essay: Artificial Grass vs. Turf: The Real Differences Revealed at Almost Grass

Minimalism vs. Maximalism: Differences, Similarities, and Use Cases

Sample lines: “Maximalists love shopping, especially finding unique pieces. They see it as a hobby—even a skill—and a way to express their personality. Minimalists don’t like shopping and see it as a waste of time and money. They’d instead use those resources to create memorable experiences. Maximalists desire one-of-a-kind possessions. Minimalists are happy with duplicates—for example, personal uniforms. … Minimalism and maximalism are about being intentional with your life and belongings. It’s about making choices based on what’s important to you.”

Read the full essay: Minimalism vs. Maximalism: Differences, Similarities, and Use Cases at Minimalist Vegan

Vegetarian vs. Meat Eating: Is It Better To Be a Vegetarian?

Sample lines: “You’ve heard buzz over the years that following a vegetarian diet is better for your health, and you’ve probably read a few magazine articles featuring a celeb or two who swore off meat and animal products and ‘magically’ lost weight. So does ditching meat automatically equal weight loss? Will it really help you live longer and be healthier overall? … Vegetarians appear to have lower low-density lipoprotein cholesterol levels, lower blood pressure and lower rates of hypertension and type 2 diabetes than meat eaters. Vegetarians also tend to have a lower body mass index, lower overall cancer rates and lower risk of chronic disease. But if your vegetarian co-worker is noshing greasy veggie burgers and fries every day for lunch, is he likely to be healthier than you, who always orders the grilled salmon? Definitely not!”

Read the full essay: Vegetarian vs. Meat Eating: Is It Better To Be a Vegetarian? at WebMD

Healthcare Compare and Contrast Essay Examples

Similarities and differences between the health systems in australia & usa.

Sample lines: “Australia and the United States are two very different countries. They are far away from each other, have contrasting fauna and flora, differ immensely by population, and have vastly different healthcare systems. The United States has a population of 331 million people, compared to Australia’s population of 25.5 million people.”

Read the full essay: Similarities and Differences Between the Health Systems in Australia & USA at Georgia State University

Universal Healthcare in the United States of America: A Healthy Debate

Sample lines: “Disadvantages of universal healthcare include significant upfront costs and logistical challenges. On the other hand, universal healthcare may lead to a healthier populace, and thus, in the long-term, help to mitigate the economic costs of an unhealthy nation. In particular, substantial health disparities exist in the United States, with low socio-economic status segments of the population subject to decreased access to quality healthcare and increased risk of non-communicable chronic conditions such as obesity and type II diabetes, among other determinants of poor health.”

Read the full essay: Universal Healthcare in the United States of America: A Healthy Debate at National Library of Medicine

Pros and Cons of Physician Aid in Dying

Sample lines: “Physician aid in dying is a controversial subject raising issues central to the role of physicians. … The two most common arguments in favor of legalizing AID are respect for patient autonomy and relief of suffering. A third, related, argument is that AID is a safe medical practice, requiring a health care professional. … Although opponents of AID offer many arguments ranging from pragmatic to philosophical, we focus here on concerns that the expansion of AID might cause additional, unintended harm through suicide contagion, slippery slope, and the deaths of patients suffering from depression.”

Read the full essay: Pros and Cons of Physician Aid in Dying at National Library of Medicine

Animals Compare and Contrast Essay Examples

Compare and contrast paragraph—dogs and cats.

Sample lines: “Researchers have found that dogs have about twice the number of neurons in their cerebral cortexes than what cats have. Specifically, dogs had around 530 million neurons, whereas the domestic cat only had 250 million neurons. Moreover, dogs can be trained to learn and respond to our commands, but although your cat understands your name, and anticipates your every move, he/she may choose to ignore you.”

Read the full essay: Compare and Contrast Paragraph—Dogs and Cats at Proofwriting Guru via YouTube

Giddyup! The Differences Between Horses and Dogs

Sample lines: “Horses are prey animals with a deep herding instinct. They are highly sensitive to their environment, hyper aware, and ready to take flight if needed. Just like dogs, some horses are more confident than others, but just like dogs, all need a confident handler to teach them what to do. Some horses are highly reactive and can be spooked by the smallest things, as are dogs. … Another distinction between horses and dogs … was that while dogs have been domesticated , horses have been tamed. … Both species have influenced our culture more than any other species on the planet.”

Read the full essay: Giddyup! The Differences Between Horses and Dogs at Positively Victoria Stilwell

Exotic, Domesticated, and Wild Pets

Sample lines: “Although the words ‘exotic’ and ‘wild’ are frequently used interchangeably, many people do not fully understand how these categories differ when it comes to pets. ‘A wild animal is an indigenous, non-domesticated animal, meaning that it is native to the country where you are located,’ Blue-McLendon explained. ‘For Texans, white-tailed deer, pronghorn sheep, raccoons, skunks, and bighorn sheep are wild animals … an exotic animal is one that is wild but is from a different continent than where you live.’ For example, a hedgehog in Texas would be considered an exotic animal, but in the hedgehog’s native country, it would be considered wildlife.”

Read the full essay: Exotic, Domesticated, and Wild Pets at Texas A&M University

Should Zoos Be Banned? Pros & Cons of Zoos

Sample lines: “The pros and cons of zoos often come from two very different points of view. From a legal standard, animals are often treated as property. That means they have less rights than humans, so a zoo seems like a positive place to maintain a high quality of life. For others, the forced enclosure of any animal feels like an unethical decision. … Zoos provide a protected environment for endangered animals, and also help in raising awareness and funding for wildlife initiatives and research projects. … Zoos are key for research. Being able to observe and study animals is crucial if we want to contribute to help them and repair the ecosystems. … Zoos are a typical form of family entertainment, but associating leisure and fun with the contemplation of animals in captivity can send the wrong signals to our children.”

Read the full essay: Should Zoos Be Banned? Pros & Cons of Zoos at EcoCation

Do you have a favorite compare and contrast essay example? Come share in the We Are Teachers HELPLINE group on Facebook .

Plus, if you liked these compare and contrast essay examples check out intriguing compare and contrast essay topics for kids and teens ..

A good compare and contrast essay example, like the ones here, explores the similarities and differences between two or more subjects.

First day of school vs. the last day of school.

80 Intriguing Compare and Contrast Essay Topics for Kids and Teens

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Reference Examples

More than 100 reference examples and their corresponding in-text citations are presented in the seventh edition Publication Manual . Examples of the most common works that writers cite are provided on this page; additional examples are available in the Publication Manual .

To find the reference example you need, first select a category (e.g., periodicals) and then choose the appropriate type of work (e.g., journal article ) and follow the relevant example.

When selecting a category, use the webpages and websites category only when a work does not fit better within another category. For example, a report from a government website would use the reports category, whereas a page on a government website that is not a report or other work would use the webpages and websites category.

Also note that print and electronic references are largely the same. For example, to cite both print books and ebooks, use the books and reference works category and then choose the appropriate type of work (i.e., book ) and follow the relevant example (e.g., whole authored book ).

Examples on these pages illustrate the details of reference formats. We make every attempt to show examples that are in keeping with APA Style’s guiding principles of inclusivity and bias-free language. These examples are presented out of context only to demonstrate formatting issues (e.g., which elements to italicize, where punctuation is needed, placement of parentheses). References, including these examples, are not inherently endorsements for the ideas or content of the works themselves. An author may cite a work to support a statement or an idea, to critique that work, or for many other reasons. For more examples, see our sample papers .

Reference examples are covered in the seventh edition APA Style manuals in the Publication Manual Chapter 10 and the Concise Guide Chapter 10

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Audiovisual media are covered in Sections 10.12–10.14 of the Publication Manual . The most common examples are presented together here. In the manual, these examples and more are separated into categories for audiovisual, audio, and visual media.

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How To Introduce Yourself Professionally (With Examples)

How To Introduce Yourself Professionally
Welcome New Employee Announcement
Welcome Letter
Thank You Note To Colleague
30/60/90 Plan
Getting To Know You Questions
Job Satisfaction
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Find a Job You Really Want In

It’s important to know how to introduce yourself professionally, as a solid introduction leads to further connection. Whether you’re preparing for a career fair, interview, or sales call, it’s important to practice your self-introduction.

In this article, we’ll cover how to introduce yourself professionally, and we’ll give examples of introductions. We’ll also explain why it’s essential to have a professional introduction ready to go.

Key Takeaways:

Whether you’re sitting down for an interview, meeting a new coworker, or giving a presentation, your self-introduction is the first glimpse into the kind of person that you are.

When introducing yourself, you need to consider the context of the meeting.

Make sure you are using positive body language such as eye contact and smiling and are being an active listener.

When introducing yourself, make sure you are confident because confidence draws people into what you have to say.

How to introduce yourself professionally

How to introduce yourself examples, why are professional introductions important, tips for introducing yourself, job interview self-introduction tips, introducing yourself professionally faqs, expert opinion on introducing yourself professionally.

To introduce yourself professionally, you need to consider the situation you’re in, use positive body language, and briefly provide information about who you are. If appropriate, ask questions of the person or people you’re introducing yourself to as well.

Consider the context of the introduction. Adapting your self-introduction to the situation you’re in is imperative. An introduction that is professional at a presentation will seem strange at a job interview .

Additionally, speaking as casually as you might on a first date is inappropriate when interviewing for an open position.

Before speaking, the first step is to understand the context of the scenario you’ll be introducing yourself in and adjust your approach accordingly.

Job interviews The first day of a college class Welcoming new co-workers Meeting people at a job fair or conference Giving a presentation to a large group Conducting a sales call

Use positive body language. People are strongly influenced by body language , even if they don’t realize it consciously. Using positive body language draws the other party into what you have to say and who you are.

Eye contact Shaking hands Smiling Nodding Standing upright Arms uncrossed

Give a little information about who you are. The thing about an effective introduction is that it’s a push-and-pull in exchange for information. Spend equal time speaking and listening .

In the case of a job interview, this means briefly explaining your professional background while highlighting your responsibilities and achievements . Explain what jobs you’ve worked in previously and what the responsibilities in those roles entailed.

When you’re introducing yourself in a social situation, it’s okay to include some career-related information, but try to extend the description past that to give a more well-rounded depiction of who you are.

Ask questions. It’s not an attractive quality to be self-absorbed, whether in a professional or social setting. One way to avoid this perception is by asking the other person questions about themselves, the position you’re applying for, or the company you hope to work for.

Questions demonstrate a genuine interest in the other person or professional role, and that makes them respond more positively.

Asking questions also helps the interaction flow naturally from an introduction to a relaxed conversation .

What do you like about working here? What are the biggest challenges I’d be facing in this position? What are you most looking forward to about this conference? What do you do?

Presenting yourself professionally and politely is important no matter the context. Here are some examples of how to do this in a wide variety of situations:

How to introduce yourself in an interview for a job

“Hello, it’s nice to finally meet you in person. Even though we spoke over email, I wanted to formally introduce myself. My name is Sally Jones, and I’m a passionate social media manager . “I’ve been a professional social media manager for the past five years after graduating with my bachelor’s degree in communications from New York University. I’ve led teams that handled high-profile clients and improved their sales margins by upwards of 4%. “I’ve always admired your organization’s mission, and I’d love to be able to use my leadership skills and industry knowledge to further it.”

How to introduce yourself to a new employee

“Hi, my name is Connor. What’s your name? Nice to meet you, _____. I understand that you’ve recently been hired for the job of administrative assistant , which means that we’ll be working together a lot. “I just wanted to introduce myself and extend a warm welcome to the team. “Please let me know if there’s anything I can help you with while you’re getting adjusted to the new role.”

How to introduce yourself in an email

Dear Mrs. Adams, How are you doing? I hope this email finds you well. My name is Jackson King, and I’m a school librarian . I have ten years of experience working as a librarian in the public schooling system, which has awarded me strengths in collaboration and patience. I’m emailing you today because I know that you are the hiring manager for Woodbridge City School District, and I wanted to pass my resume along in case any positions open up that fit my experience and skills. I’d love to have a further discussion about the education philosophies at Woodbridge City School District. I can be reached via [email protected] or (923-742-6336). Thank you for reading my email in full, and I hope to hear back soon. Sincerely, Jackson King [email protected]

How to introduce yourself at a hiring event

“Hi there, how are you? My name is Matthew Shelton. I’m a recent graduate from the University of Texas with a degree in engineering. While I haven’t had much paid professional experience, I participated in a competitive internship with Cisco Systems for six months. “I wanted to come over and introduce myself to you because I saw that you’re representing Flash Energy Solutions. I’ve heard incredible things about this company’s innovation, and I’m curious to find out more about their open positions. Are you available now to talk more about opportunities at Flash Energy Solutions?”

How to introduce yourself to a university professor

“Good afternoon, Professor Johnson. My name is Abigal Morris, and I’m a sophomore here at The University of Washington. I just wanted to formally introduce myself and say I’m looking forward to learning more in your course this semester.”

How to introduce yourself to your network

Hi, Samantha. How are you? I hope all is well. My name is Jessica Lane, and I’m a gallery director for Elegance Art Studios. I’m reaching out to you today because I recently came across some of your artwork online. Specifically, I saw a painting titled “Oblivion” that I thought was immaculate. I’d like to see your other work and speak further about the possibility of building a working relationship with Elegance Art Studios. If you’re interested, please email me at [email protected] or call me at (558)-292-6868. Thank you. Sincerely, Jessica Lane

How to introduce yourself on social media

Hello, Catherine, my name is Sadie Michaels, and I represent a clothing company called Free Air Designs as a marketing coordinator . I came across your Instagram profile while I was searching through my Top Posts page . I think you have a keen eye for social media development, and I enjoy your style. I was wondering if you’d be interested in collaborating on a few targeted posts involving Free Air Designs. Let me know if you’d be interested in talking more. Thanks! -Sadie

How to introduce yourself to a stranger on a plane

“Hello, I don’t mean to bother you, but since we’re going to be on this 12-hour flight, I figured I’d introduce myself. I’m Tom. What’s your name? It’s a pleasure, ____. What brings you on a flight to Milan?”

How to introduce yourself at an office party

“I don’t think we’ve met before. My name is Eric. I work in accounting. What’s your name? Awesome, it’s great to meet you, ____. How long have you been working here? Eight years? Wow, I’ve only been here for two. Have you been at this location all along?”

How to introduce yourself in class

“Hi everyone, my name’s Madeline Johnson. I’m a sophomore English major in the NEAG education program. I was interested in this class as a way of broadening my knowledge of teaching techniques for toddlers. When I’m not stuck in a book, I like to spend my time fishing at the Housatonic River.”

How to introduce yourself in a letter

Dear Mrs. Sels, “My name is John Buck and I’m a freelance writer with a background in e-commerce and the technical space. Naturally, I thought I’d be a good fit for XYZ Technica, an industry leader in technical e-commerce.”

How to introduce yourself to a group

“Hello everyone, my name’s Tim Thompson. I’ve been working in finance for 10 years, and what I specialize in is client support and education. Being able to bring some of this esoteric, but important, information from our field to more people is the most rewarding part of my job.”

How to introduce yourself in a meeting or presentation

“Hi everyone, my name is Riley Cooper and I’m the head of our content marketing team. What we excel at is making bespoke content calendars that match your brand’s voice, as well as monitoring the success of those campaigns.”

How to introduce yourself to a potential new client

Hello, my name is Chris Trager, and I’m a representative for Campbell Paper. I wanted to introduce myself and let you know about our 30% off sale happening throughout the month of August. We provide high-quality paper products and custom-printed materials to many schools like yours, and I’d love to discuss how we can meet your paper and printing needs. Is there anything in particular you’re looking for for an upcoming project? I really enjoy working with education-based clients like you, and I’d love to send you a sample book and help you find solutions at a price point that works for you. Please feel free to respond to this email or call or text me at 333-444-5555. I look forward to talking with you. Chris Traeger Sales Representative Campbell Paper

How to introduce yourself in a new company

Good morning, Ashley, We haven’t met yet, but I’m the new graphic designer working in the marketing department, and I was assigned your ESL class poster. Would you mind sending me the class times whenever you get the chance? Once I have those, I’ll be ready to send the poster to you to look over. I’m looking forward to working with you, and I hope to be able to meet you in person soon! Thanks, Caleb Olson Graphic Designer 222-333-4455

Professional introductions are important because how you demonstrate your character in the first moments of meeting another person dictates their perception of you moving forward, even if that doesn’t accurately describe who you are .

In situations where there is limited time to interact, such as a job interview, making a positive and professional first impression is crucial in achieving a desirable outcome. The confines of a 30-minute interview are all a candidate has to demonstrate themselves as the perfect choice for a job.

This is truly a test of first impressions as job-seekers are asked to perform well in a brief introduction before being hired.

Making a strong self-introduction is more complicated than simply stating your name and shaking hands. Consider the following tips for introducing yourself to leave a lasting positive impression on people you meet:

Dress well . Clothing is the first impression that a job interviewer or colleague has of you before you speak. Dressing well for a professional event ensures that you’re portraying yourself in a professional light.

Be confident. Refined confidence draws people into what you have to say. While sounding conceited repeals most people, a healthy dose of security in your ability to do a job establishes you as a dependable candidate.

Look for opportunities to further the conversation. An introduction that goes back and forth between two people only lasts a few minutes at most before it gets boring. To avoid a boring discussion, be on the lookout for opportunities to further the conversation.

Understand the culture. Before an interview or meeting, you should do research on the company to understand its culture. This will give you a better understanding of whether they are more straightforward or more casual.

If they are more casual, you can include some light humor in your introduction, just make sure it’s appropriate. If they are more straightforward and formal, keep a professional demeanor.

Prepare what you want to say. Practicing how you want to say something can help with stumbling over words and possibly saying something wrong. Try writing down what you want to say beforehand and practicing what you want to say. It may seem silly to be doing so at the time, but it could be helpful if you are nervous and have new meeting anxiety.

Introducing yourself at a job interview is a bit different than in most social contexts. You’ll want to pay special attention to the following in order to ensure the hiring manager likes you from the get-go:

Research the company. Before the interview, check out how the company presents itself to the public via social media. Are they casual and hip, or formal and serious? That’s your first clue for what sort of tone to strike.

Research the interviewer. Figure out whether the interviewer is an HR representative or someone who you’d be working under directly. You can also learn about their background to see what sort of information they’re most likely to appreciate in an introduction.

Plus, you might find an interesting connection that can be a nice segue out of your self-introduction into a shared, natural conversation.

Be hyper-relevant and brief. The job description is your ultimate cheat sheet for which qualifications to hype up as you introduce yourself at your job interview. Don’t go crazy trying to stuff the whole list into your intro, though.

Talk contributions. Introducing yourself shouldn’t be a laundry list of where you worked, when you graduated, etc. — that’s what your resume is for . Instead, get animated and share why you’re passionate about the field, interesting stories from your background, major milestones from your professional career, etc.

Don’t stop at your job title. When you simply give your name and job title, you’re basically saying, “There’s nothing more interesting about me than the function I can possibly fulfill” — not exactly a thrilling candidate.

Don’t try too hard to be funny. Humor is a great thing, but unless you’re a stand-up, you should wait until you’ve developed a bit of rapport before diving into too many jokes. No matter how much research you’ve done on your interviewer, you won’t know what they find funny or inappropriate, so it’s best to play it safe.

How do I introduce myself professionally?

Introduce yourself professionally with positive body language and relevant information about yourself. This relevant information about yourself should be related to the context of the situation. For example, if you are introducing yourself to someone once you have been referred, you may bring up your reference.

What is a unique way to introduce yourself?

To be unique, talk about your values in your introduction. Your values, even if they are common, define your personality. This helps you set the stage to talk about your goals and accomplishments, which should be tied to your values. Just make sure to keep them relevant and appropriate.

How do you introduce yourself in 3 lines?

To introduce yourself in 3 lines: state your name, why you are there, and ask an open-ended question about the other person. It is especially important to explain your purpose in a natural way, so tie it back to the context of the situation. Then, by using an open-ended question, you provide an opportunity for the other person to contribute to the conversation in a meaningful way.

What is a good introduction?

A good introduction should gain attention and interest in a positive manner. You will have introduced yourself successfully because people will be curious to learn more about you. This creates a flow to whatever topic is at hand while keeping your presence relevant.

How do you start an introduction to introduce yourself?

To start an introduction when introducing yourself, greet the person, give your name, and share a little bit about yourself. This information will change depending on the context. In a job interview, for example, you’ll give a quick overview of your experience or skills, while at a professional conference, you’ll share your job title.

How To Introduce Yourself Professionally?

Amanda Halkiotis Owner and Chief Resume Writer

If you have a hard time thinking of ways to break the ice over email, you can always ask those close to you how you come across to others. Are you funny? Charming? Outgoing? Sincere? Good-natured and kind? Find a characteristic that resonates with you and use it to brand yourself. If you are looking for a financial services job at a fintech firm, for example, a great opening line might be something like, “I have been a math geek my whole life and I started building computers when I was in high school.”. The first line is key to getting the reader interested, so I cannot stress enough the importance of having a “hook” that makes you stand out as an individual.

When introducing yourself personally, manners and confidence matter. Make eye contact and stand up straight, but try to be relaxed and not too stiff. I also recommend being complimentary but a bit subtle about it, for example, saying, “Thank you so much for meeting with me today” followed by, “Your office is such a lovely building” or “I knew we would have a lot in common when we talked based on our email exchange”. A little flattery goes a long way! I like to have three to five points about myself memorized when meeting someone for the first time in an interview setting. Something biographical, something personal, and something professional. So, for me, if someone says, “ Tell me about yourself “, I can reply with, “I grew up in Connecticut and have been in New York City for 14 years, I’m a middle child, I love to travel, cooking, and hiking, I am not afraid of a challenge and I find that I do my best work when I get to work with clients and build relationships”. To sum it up, have an elevator pitch to go along with the brand you promoted over email!

For anyone who gets nervous meeting new people, I suggest practicing in front of a mirror or doing mock interviews with a friend or relative. For virtual interviews (so many are being done on Zoom these days), you can do a mock version by doing a video recording on your phone and looking it over. A few minutes before the actual interview, try a technique called box breathing to calm your nerves.

Lastly, one of my personal heroes who is a true master when it comes to this type of advice is Vanessa Van Edwards. She is a well-known human behaviorist who has been featured on the Today Show, has done a Ted Talk, and has a great YouTube channel. Trust me, you’ll love her.

Harvard Business Review – A Simple Way To Introduce Yourself

Western Michigan University – Introduce Yourself With A Personal Commercial

Yale University – Office of Career Strategy

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Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.

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Introducing Microsoft 365 Copilot – your copilot for work

Mar 16, 2023 | Jared Spataro - CVP, AI at Work

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Humans are hard-wired to dream, to create, to innovate. Each of us seeks to do work that gives us purpose — to write a great novel, to make a discovery, to build strong communities, to care for the sick. The urge to connect to the core of our work lives in all of us. But today, we spend too much time consumed by the drudgery of work on tasks that zap our time, creativity and energy. To reconnect to the soul of our work, we don’t just need a better way of doing the same things. We need a whole new way to work.

Today, we are bringing the power of next-generation AI to work. Introducing Microsoft 365 Copilot — your copilot for work . It combines the power of large language models (LLMs) with your data in the Microsoft Graph and the Microsoft 365 apps to turn your words into the most powerful productivity tool on the planet.

“Today marks the next major step in the evolution of how we interact with computing, which will fundamentally change the way we work and unlock a new wave of productivity growth,” said Satya Nadella, Chairman and CEO, Microsoft. “With our new copilot for work, we’re giving people more agency and making technology more accessible through the most universal interface — natural language.”

Copilot is integrated into Microsoft 365 in two ways. It works alongside you, embedded in the Microsoft 365 apps you use every day — Word, Excel, PowerPoint, Outlook, Teams and more — to unleash creativity, unlock productivity and uplevel skills. Today we’re also announcing an entirely new experience: Business Chat . Business Chat works across the LLM, the Microsoft 365 apps, and your data — your calendar, emails, chats, documents, meetings and contacts — to do things you’ve never been able to do before. You can give it natural language prompts like “Tell my team how we updated the product strategy,” and it will generate a status update based on the morning’s meetings, emails and chat threads.

With Copilot, you’re always in control. You decide what to keep, modify or discard. Now, you can be more creative in Word, more analytical in Excel, more expressive in PowerPoint, more productive in Outlook and more collaborative in Teams.

Microsoft 365 Copilot transforms work in three ways:

Unleash creativity. With Copilot in Word, you can jump-start the creative process so you never start with a blank slate again. Copilot gives you a first draft to edit and iterate on — saving hours in writing, sourcing, and editing time. Sometimes Copilot will be right, other times usefully wrong — but it will always put you further ahead. You’re always in control as the author, driving your unique ideas forward, prompting Copilot to shorten, rewrite or give feedback. Copilot in PowerPoint helps you create beautiful presentations with a simple prompt, adding relevant content from a document you made last week or last year. And with Copilot in Excel, you can analyze trends and create professional-looking data visualizations in seconds.

Unlock productivity. We all want to focus on the 20% of our work that really matters, but 80% of our time is consumed with busywork that bogs us down. Copilot lightens the load. From summarizing long email threads to quickly drafting suggested replies, Copilot in Outlook helps you clear your inbox in minutes, not hours. And every meeting is a productive meeting with Copilot in Teams. It can summarize key discussion points — including who said what and where people are aligned and where they disagree — and suggest action items, all in real time during a meeting. And with Copilot in Power Platform, anyone can automate repetitive tasks, create chatbots and go from idea to working app in minutes.

GitHub data shows that Copilot promises to unlock productivity for everyone. Among developers who use GitHub Copilot, 88% say they are more productive, 74% say that they can focus on more satisfying work, and 77% say it helps them spend less time searching for information or examples.

But Copilot doesn’t just supercharge individual productivity. It creates a new knowledge model for every organization — harnessing the massive reservoir of data and insights that lies largely inaccessible and untapped today. Business Chat works across all your business data and apps to surface the information and insights you need from a sea of data — so knowledge flows freely across the organization, saving you valuable time searching for answers. You will be able to access Business Chat from Microsoft 365.com, from Bing when you’re signed in with your work account, or from Teams.

Uplevel skills. Copilot makes you better at what you’re good at and lets you quickly master what you’ve yet to learn. The average person uses only a handful of commands — such as “animate a slide” or “insert a table” — from the thousands available across Microsoft 365. Now, all that rich functionality is unlocked using just natural language. And this is only the beginning.

Copilot will fundamentally change how people work with AI and how AI works with people. As with any new pattern of work, there’s a learning curve — but those who embrace this new way of working will quickly gain an edge.

The Copilot System: Enterprise-ready AI

Microsoft is uniquely positioned to deliver enterprise-ready AI with the Copilot System . Copilot is more than OpenAI’s ChatGPT embedded into Microsoft 365. It’s a sophisticated processing and orchestration engine working behind the scenes to combine the power of LLMs, including GPT-4, with the Microsoft 365 apps and your business data in the Microsoft Graph — now accessible to everyone through natural language.

Grounded in your business data. AI-powered LLMs are trained on a large but limited corpus of data. The key to unlocking productivity in business lies in connecting LLMs to your business data — in a secure, compliant, privacy-preserving way. Microsoft 365 Copilot has real-time access to both your content and context in the Microsoft Graph. This means it generates answers anchored in your business content — your documents, emails, calendar, chats, meetings, contacts and other business data — and combines them with your working context — the meeting you’re in now, the email exchanges you’ve had on a topic, the chat conversations you had last week — to deliver accurate, relevant, contextual responses.

Built on Microsoft’s comprehensive approach to security, compliance and privacy. Copilot is integrated into Microsoft 365 and automatically inherits all your company’s valuable security, compliance, and privacy policies and processes. Two-factor authentication, compliance boundaries, privacy protections, and more make Copilot the AI solution you can trust.

Architected to protect tenant, group and individual data. We know data leakage is a concern for customers. Copilot LLMs are not trained on your tenant data or your prompts. Within your tenant, our time-tested permissioning model ensures that data won’t leak across user groups. And on an individual level, Copilot presents only data you can access using the same technology that we’ve been using for years to secure customer data.

Integrated into the apps millions use every day. Microsoft 365 Copilot is integrated in the productivity apps millions of people use and rely on every day for work and life — Word, Excel, PowerPoint, Outlook, Teams and more. An intuitive and consistent user experience ensures it looks, feels and behaves the same way in Teams as it does in Outlook, with a shared design language for prompts, refinements and commands.

Designed to learn new skills. Microsoft 365 Copilot’s foundational skills are a game changer for productivity: It can already create, summarize, analyze, collaborate and automate using your specific business content and context. But it doesn’t stop there. Copilot knows how to command apps (e.g., “animate this slide”) and work across apps, translating a Word document into a PowerPoint presentation. And Copilot is designed to learn new skills. For example, with Viva Sales, Copilot can learn how to connect to CRM systems of record to pull customer data — like interaction and order histories — into communications. As Copilot learns about new domains and processes, it will be able to perform even more sophisticated tasks and queries.

Committed to building responsibly

At Microsoft, we are guided by our AI principles and Responsible AI Standard and decades of research on AI, grounding and privacy-preserving machine learning. A multidisciplinary team of researchers, engineers and policy experts reviews our AI systems for potential harms and mitigations — refining training data, filtering to limit harmful content, query- and result-blocking sensitive topics, and applying Microsoft technologies like InterpretML and Fairlearn to help detect and correct data bias. We make it clear how the system makes decisions by noting limitations, linking to sources, and prompting users to review, fact-check and adjust content based on subject-matter expertise.

Moving boldly as we learn

In the months ahead, we’re bringing Copilot to all our productivity apps—Word, Excel, PowerPoint, Outlook, Teams, Viva, Power Platform, and more. We’ll share more on pricing and licensing soon. Earlier this month we announced Dynamics 365 Copilot as the world’s first AI Copilot in both CRM and ERP to bring the next-generation AI to every line of business.

Everyone deserves to find purpose and meaning in their work — and Microsoft 365 Copilot can help. To serve the unmet needs of our customers, we must move quickly and responsibly, learning as we go. We’re testing Copilot with a small group of customers to get feedback and improve our models as we scale, and we will expand to more soon.

Learn more on the Microsoft 365 blog and visit WorkLab to get expert insights on how AI will create a brighter future of work for everyone.

And for all the blogs, videos and assets related to today’s announcements, please visit our microsite .

Tags: AI , Microsoft 365 , Microsoft 365 Copilot

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Thesis – Justification – Support

Box: An example

A State-Ranker’s Guide to Writing 20/20 Economics Essays

1. Introduction to this Guide

2. The Correct Way to Write

Phrasing should be understandable and concise

“Understandable” does not mean slang or lacking in terminology

Analysis should be done using low modality

3. How to use Statistics

4. Must Have Insightful “However”s

Theoretical “However”s

How to Write an Essay Introduction (with Examples)  