Essay on Economics
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EXTENDED ECONOMICS EXECUTED ESSAY In Economics A longer essay in Economics gives you the chance to do in-depth research on Economics in any area.
Expositon on the theme “EXTENDED EESSAY IN ECONOMICS” An extended essay is an opportunity for you to conduct in-depth Research in Economics in a specific area.”— Presentation transcript:
ECONOMICS EXTENDED EESSAY A extended essay in Economics gives you the chance to do in-depth Economics research on a topic of your choice. This allows you to improve your research skills and apply economic theory in real-world situations. You can also analyze the results and make recommendations.
2. What topic should you pick? The topic you choose must be relevant to the topic you are interested in. You should think about the type of research you’re able to conduct when choosing a topic. You should think about topics that you are able to gather primary data through surveys, questionnaires or interviews. Economics essays will benefit greatly from secondary data.
These are three examples of titles that can be used as a guide. Which market type characterizes Madrid’s gasoline supply industry? How has the Dhaka minimum wage increase affected garment workers in Bangladesh? How has the rise in euro exchange rates affected La Marina’s tourist industry? Is there any economic impact of privatization of water on my area of Zambia’s farming industry?
Four important guidelines The theories, tools, models and graphs learned in the IB Economics course must be used to help you choose the topic. Do not write a narrative or historical essay. Your essay should be more descriptive than analytical. Your research question should be answered using economic concepts. Use charts, graphs, and tables to present data visually.
Five main elements of an extended essay: Introduction, Main body, Evaluation and Conclusion. Appendices
Extra essay
An extended essay can be a self-directed, independent piece of research that ends with a paper measuring 4,000 words.
One component of the International Baccalaureate® (IB) Diploma Programme (DP) core, the extended essay is mandatory for all students.
Learn more about the essay.
Also, you can read how IB establishes deadlines for extended essays. You will also find past DP student extended essay titles.
Find out more about extended essays in a DP workshop.
Briefings on DP subjects
The course selection guide contains briefs on both the standard and high-level levels, as well information regarding core requirements and assessment.
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How do you make an Economics Extended Essay?
The Extended Essay on Economics consists of six parts. This blog series will explain each of them. This first post provides a little guidance on finding a good question and helps you reflection on three key questions… is your topic viable, feasible and personally desirable?
Pick a topic which sparks your passion
The most important goal is to choose a topic you are passionate about. Choose topic that you’re not interested in, or perhaps one that your teacher suggests and the next 6 months will be a chore. You will find it much more enjoyable and fulfilling if you choose something that is meaningful to you or your community.
Economics has a wide range of possibilities. real world focuses. It is a good idea to start by exploring the implications of any policy changes that may have occurred in your area. It can make the data easier to access, more relevant and more engaging. There might be instances where technology, local government or your school has made a difference. This allows you to compare and examine the effects and can see how they have changed.
Imagine that your local transit agency offered you free transportation if the peak hour is before 7:30am. What impact might this have on ridership? How could it influence travel behavior?
Finding the right one is key. natural experimentThis will allow you to connect to interesting economic theories and avoid being too specific. The following is a listing of ideas that could be generated from the context of Singapore.
| Politician change | Possible economic connection |
| If you travel before 7:30am, the local subway system will provide free transportation. | What impact might this have on ridership? Are congestion and demand reduced or inelastic? |
| There is a rapid increase in the number of rental bikes and other apps | These factors influenced supply and demand, and illustrated aspects of monopolistic compeition. |
| The government subsidises the introduction hybrid and electric vehicles | This could have an effect on car sales and may lead to lower externalities over the long-term. |
| Rent controls for local housing | What impact could this have on the quality and availability housing options for families with low income? |
| Certain workers and industries see increases in the minimum wage (cleaners, security staff). | This has an impact on labour demand. Is this a result of more capital intensive or higher production costs? |
| Reductions in income taxes for one-time | What impact could this have on consumer spending? What are households most likely to do? |
| Initiative for development to offer micro-credit to rural households | Is it possible that microcredit led to increased farming productivity by providing access to credit? |
This essay topic is even possible?
Be sure to think about the ways you could collect data to answer your questions before you begin to discuss your topic. Certain topics may be too commercially sensitive to provide the data you need. It is difficult to isolate and research certain macroeconomic issues. What effect did fiscal policy have on variable x? Are you able to find enough macroeconomic data? This series’ next installment will discuss primary and secondary research as it relates to and Economics Education in the Economy.
It is important to not ask about people’s hypothetical decisions or choices. Should you ask friends of your parents about buying hybrid cars, or do you look for actual buyers at the dealership?
Do I have the ability to tackle it in less than 4,000 words
Many topics can’t be covered in the 4,000 word limit. And some theories are beyond what our IB Diploma Syllabus covers. You would not be well served if you choose these topics as the focus of an Economics EE. These topics are more suitable for a multidisciplinary approach to World Studies, combining Economics with Psychology.
It is important to realize that you will need approximately 40 hours for this project. You may not have enough interest people to complete a survey on a particular topic, so you will need to sacrifice your whole summer vacation.
Is there enough academic rigour?
Common problem is choosing a topic that connects with an area in the syllabus. This will allow you to demonstrate your ability as an economist to critically analyse and evaluate information. Although many questions might seem superficial at first glance, it’s worth discussing with your supervisor the relevant sub-questions. This will allow you to guide your research.
While some sub-questions may be descriptive, it is okay to make sure there are enough analysis and criticisms of data. Here are some examples to give you an idea. Try looking for another topic if your sub-questions seem too descriptive.
Main RQ –How has the Paris Attacks 2015 affected the French Tourism Industry and the wider Economy?
- We compare tourist arrivals data to see the effect of tourists spending and arrivals in Paris with a French small town.
- Compare the effect of terrorist attacks on French tourists and international tourists
- Compare the spending behavior of domestic tourists and those from local communities. They spend how much per day. What is their average stay time?
- The estimation of the MultiplierValues for tourists and differences in Paris from other French towns.
- Research is required to determine the true value of a multiplier for tourist spending.
- This gives you an estimate of the impact on Gross Domestic Products.
- This is how it compares to the other terrorist attacks on Sept 11, New York, or London Bus Attacks?
Principal RQ – To what extent does the private car hire industry of Singapore represent an oligopolistic market structure?
- How do we define the ‘private car hire industry’
- Is there a change in the demand over time? What are the driving factors?
- Is it possible to classify the market according to market structure characteristics? Is there any perfect competition?
- What are the effects of price and non-price competitiveness on firms? How can they distinguish their product from the rest?
- How much market share have these firms gained?
I find these questions on market structure to be too simplistic and formulaic. You can spin this question to increase the scope of evaluation. Is it possible for the government to try to reduce the regulation of taxi-related businesses in Singapore, to allow more competition?
Although it is difficult to choose a question that is feasible, useful, or interesting for you, this is what I have found helpful. Remember to stick with the question once you have committed!!
Try something new
The most fascinating intellectual subjects conduct simulations and experiments. You will see that rational thinking and acting are not common in humans if you read Richard Thaler’s work on Behavioural Economics. Many of the policies and decisions that we make, as well as their outcomes, are flawed because rationality is the founding principle of economics, where individuals are supposed to maximize utility.
It is possible to spot irrational behaviours and observe them. How can people save so little for retirement when they know how much they’ll need to retire?
One example is the rigged Monopoly game that students used to simulating money supply. They did this by using borrowings and interest rates. Simulators and games can be repeated many times, so you have the option to blind-test your theory.
Economics
To write an extended essay in Economics, you must have taken the IB Economics course (HL/SL). An essay requires a solid understanding of economic terminology and theory. This is only possible in the classroom.
This is Mulgrave EE Economics LINKYou will find all the examples, guidance, advice and assessment criteria you need to succeed on your EE.
You can find the link to IB’s official website for Economics Extended Essay HERE.
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