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220 Economics Essay Topics You Can Explore in Your Research

Updated 20 Mar 2024

Economics is one of the most important social sciences. As it discusses and studies the flow of value in our society, it impacts almost every aspect of our lives. It can also be effectively used to improve our modern society.

The list of economic essay topics is endless – the field focuses on multiple areas of human interactions on different scales. Choosing one of the economics topics for an essay relevant to your task and interesting to research can be hard. That’s why we’re here to help you.

💡 Tips for Choosing Interesting Economics Topics

Let’s review the main steps you can take to make the selection of topic ideas easier for you:

• Select the relevant field of study – economics is a broad field, so it is often divided into several subcategories, including micro- and macroeconomics, social economics, and many more. If you want to select relevant economics paper topics, first you need to determine the field you’re focusing on;
• Find something interesting to you – even the most interesting topics will not make for a good essay if they are not delivered well enough. Find something that you’re interested in learning more about and focus on economics essay questions connected to it;
• Make sure there are enough trustworthy data sources on the subject – like many other social studies, economics is often manipulated to prove a point or an agenda. Make sure the sources you use are relevant and trustworthy;
• Ensure you can keep the reader engaged – if most of your research will consist of raw data, it will most likely not be interesting to read. Make sure that the topic you choose is interesting and engaging enough for you to grasp the reader’s attention.

Among the main topics you can discuss in economics research are:

• Fundamental economics, cost to benefit analysis, and importance of decision-making;
• Macroeconomics , supply, and demand;
• Microeconomics, market structure, and strategies, competition;
• International economics, trade, market, and more;
• Personal economics, spending habits, personal investment;
• Social economics, class structure, the cultural impact of economics.

📈 List of Economics Essay Topics

These general topics explore the specifics of the field, its difference from other studies, and relevant questions in the modern state of this science.

• The Role of Cryptocurrencies in Modern Economics
• Impact of Globalization on Emerging Economies
• Behavioral Economics: How Psychology Influences Economic Decisions
• The Economics of Climate Change and Sustainable Development
• Universal Basic Income: Pros and Cons
• The Effect of Trade Wars on Global Economic Stability
• Gig Economy: Transforming Traditional Labor Markets
• Economic Implications of Artificial Intelligence and Automation
• The Future of Work: Economic Perspectives on Telecommuting and Remote Work
• Income Inequality and Economic Growth: A Complex Relationship
• The Economics of Renewable Energy: Costs and Benefits
• Healthcare Economics: Analyzing the Cost-Effectiveness of Public Health Policies
• The Impact of Economic Sanctions on Targeted Countries
• Economic Strategies for Combating Poverty and Homelessness
• The Role of Central Banks in Managing Economic Crises
• Economic Analysis of the Student Loan Debt Crisis
• The Economics of Internet Privacy and Data Security
• Supply Chain Economics: Lessons from Global Disruptions
• The Role of Innovation and Technology in Economic Growth
• Economic Impacts of Immigration: A Balanced View

🌎 World Economics Essay Questions

• How do international trade agreements affect emerging economies?
• What are the economic impacts of climate change on global agriculture?
• How does the rise of China affect the global economic balance?
• What role does the World Bank play in shaping the economies of developing countries?
• How do economic policies in developed countries impact global poverty?
• What are the effects of global economic sanctions on the targeted nations?
• How does the digital economy influence global economic disparities?
• What are the economic consequences of Brexit for the European Union and the UK?
• How do multinational corporations influence economic policies in developing countries?
• What is the impact of global pandemics, like COVID-19, on international trade and economy?
• How does the global shift towards renewable energy sources affect oil-dependent economies?
• What are the economic challenges and opportunities in Africa's rapidly growing economies?
• How do remittances from migrants impact the economies of their home countries?
• What are the economic implications of the increasing global population?
• How does political instability in the Middle East affect global oil markets and economies?
• What is the role of emerging technologies in shaping the future of global finance?
• How do global economic inequalities impact international relations and security?
• What are the economic effects of international tourism on small island developing states?
• How do trade wars, particularly between the US and China, reshape global economic dynamics?
• What are the economic strategies for sustainable development in underdeveloped regions?

📊 Macroeconomics Essay Topics

Macroeconomics deals with economic systems as a whole. It is extremely important to discuss, as it can help to learn more about how well the system is performing and what can be done to improve it.

• Analyzing the Long-term Economic Impacts of the COVID-19 Pandemic
• The Role of Fiscal Policy in Managing Economic Recessions
• Inflation vs. Deflation: Causes, Consequences, and Control
• The Impact of Monetary Policy on Economic Growth
• Globalization and Its Effects on National Economies
• The Economics of Income Inequality in Developed Countries
• Understanding the Phillips Curve: Inflation and Unemployment
• The Role of Government Spending in Stimulating Economic Growth
• Exchange Rates and Their Impact on International Trade
• The Effects of National Debt on a Country's Economic Health
• Economic Indicators and Their Role in Policy Making
• The Relationship Between Consumer Confidence and Economic Performance
• The Impact of Oil Prices on the Global Economy
• Quantitative Easing: Benefits and Risks
• The Economics of Climate Change Policies in Developed Nations
• Housing Markets and Their Influence on the Economy
• The Role of Central Banks in Modern Economies
• Supply-Side Economics: Theory and Practice
• The Impact of Technological Innovation on Economic Growth
• Demographic Changes and Their Macroeconomic Implications

📉 Microeconomics Essay Topics

Microeconomics, on the other hand, deals with the economy on an individual scale. Discussing the importance of personal decision making and how it impacts the system is actually just as important as paying attention to the large scale, so let’s take a look at the topics you can explore:

• The Impact of Consumer Behavior on Market Demand
• Price Elasticity of Demand: Analysis in Different Markets
• The Role of Competition in Shaping Market Outcomes
• Monopolies and Oligopolies: Their Impact on Consumers and Prices
• Behavioral Economics: How Irrational Behaviors Affect Economic Decisions
• The Economics of Labor Markets and Wage Determination
• Supply Chain Economics: The Microeconomic Perspective
• The Impact of Advertising on Consumer Preferences and Market Trends
• Game Theory and Its Application in Competitive Business Strategies
• The Economics of Healthcare: Demand, Supply, and Pricing
• Environmental Economics: The Cost of Pollution and Its Microeconomic Impacts
• The Role of Government in Market Failures: Subsidies, Taxes, and Regulations
• Resource Allocation in Different Economic Systems
• The Economics of Education: Human Capital and Labor Market Outcomes
• The Impact of Technological Change on Small Businesses
• Consumer Choice Theory and Its Implications for Marketing
• Risk and Uncertainty in Microeconomic Decision-Making
• The Microeconomics of Urban Development and Housing Markets
• The Role of Information Asymmetry in Market Transactions
• The Economics of Agriculture: Supply and Demand in Food Markets

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🏥 Healthcare Economics Essay Topics

• The Economic Impact of Universal Healthcare Systems vs. Private Healthcare Systems
• Cost-Benefit Analysis of Public Health Campaigns
• The Role of Health Insurance in Shaping Healthcare Economics
• Economic Implications of Aging Populations on Healthcare Systems
• The Impact of Pharmaceutical Patents on Drug Prices and Accessibility
• Healthcare Expenditure: A Comparison Between Developed and Developing Countries
• The Economics of Mental Health Care and Its Funding
• Analyzing the Cost-Effectiveness of Preventive Medicine
• The Role of Technology in Reducing Healthcare Costs
• Economic Analysis of the Opioid Crisis in the United States
• Healthcare Economics in the Context of a Pandemic
• The Impact of Lifestyle Diseases on Healthcare Systems
• Economic Challenges in Providing Rural Healthcare
• The Effects of Healthcare Policy Reforms on Service Delivery
• The Role of Private Sector Investment in Healthcare
• Analyzing the Price Elasticity of Demand in Healthcare
• The Economics of Emergency Medical Services and Critical Care
• Healthcare Workforce Economics: Challenges and Solutions
• The Impact of Medical Tourism on Domestic Healthcare Economics
• Evaluating the Economic Efficiency of Telemedicine Services

Consumerism Essay Topics

• The Impact of Consumerism on Global Environmental Sustainability
• Consumer Culture: Its Evolution and Impact on Society
• The Psychology Behind Consumer Buying Behavior
• The Effects of Advertising and Media on Consumer Choices
• Ethical Consumerism: Balancing Profit and Social Responsibility
• The Role of Branding in Modern Consumerism
• Consumerism and Its Impact on Personal Debt and Financial Health
• Fast Fashion: Consumerism and Its Environmental Footprint
• The Influence of Social Media on Consumer Trends and Behaviors
• Minimalism as an Antidote to Consumerism: Pros and Cons
• The Relationship Between Consumerism and the Throwaway Culture
• Consumerism in the Digital Age: Online Shopping and Its Impacts
• The Effects of Globalization on Consumerism and Local Cultures
• Consumer Rights and Protection: A Historical Perspective
• The Impact of Consumerism on Mental Health and Well-being
• Sustainable Consumerism: Is It Achievable in a Capitalist Society?
• The Role of Government in Regulating Consumer Markets
• Consumerism in Developing Countries: Trends and Challenges
• The Evolution of Consumerism in the 21st Century
• The Intersection of Consumerism and Technological Advancements

💰 Finance Paper Topics

• The Impact of Cryptocurrency on Traditional Financial Systems
• Behavioral Finance: Understanding the Psychology of Investing
• The Role of Fintech in Shaping the Future of Banking
• Corporate Social Responsibility in Financial Decision-Making
• The Effects of Interest Rate Changes on the Economy
• Risk Management in Financial Institutions
• The Global Impact of the US Federal Reserve's Monetary Policy
• Sustainable Finance: Investing in Environmental and Social Governance (ESG)
• The Evolution of International Financial Markets
• Financial Inclusion: Strategies for Bridging the Gap in Developing Countries
• The Role of Credit Ratings in Financial Markets
• Impact of Financial Regulations on Banking Sector
• Analysis of Stock Market Bubbles and Crashes
• The Future of Digital Banking and Online Financial Services
• Private Equity and Venture Capital: Their Role in Economic Growth
• The Economics of Debt: National and International Perspectives
• Financial Derivatives: Uses and Controversies
• The Role of Artificial Intelligence in Financial Services
• Microfinance and Its Impact on Poverty Alleviation
• The Challenges of Pension Fund Management in an Aging Society

✏️ Socio-Economic Essay Topics

• The Impact of Economic Inequality on Social Mobility
• The Role of Education in Bridging the Socio-Economic Divide
• Gender Disparities in the Workplace: Economic and Social Implications
• The Effects of Urbanization on Socio-Economic Development
• Social Entrepreneurship: Combining Economic Goals with Social Impact
• The Relationship Between Poverty and Crime Rates
• Economic Policies and Their Impact on Social Welfare
• The Socio-Economic Challenges of Aging Populations
• Income Inequality and Its Impact on Health Outcomes
• The Role of Technology in Shaping Socio-Economic Trends
• Child Labor: Socio-Economic Causes and Consequences
• The Impact of Globalization on Local Cultures and Economies
• Socio-Economic Factors Influencing Voter Behavior
• The Economics of Immigration: Social and Economic Perspectives
• Socio-Economic Implications of Climate Change
• The Digital Divide: Socio-Economic Impacts of Internet Access
• Racial and Ethnic Economic Disparities in Urban Areas
• The Socio-Economic Effects of War and Conflict
• Socio-Economic Determinants of Health in Developing Countries
• The Role of Government in Addressing Socio-Economic Inequalities

📖 Economic History Topics

• The Economic Consequences of the Industrial Revolution
• The Great Depression: Causes and Global Impact
• The Role of Trade and Commerce in the Ancient World
• Economic Factors Leading to the American Revolution
• The History of the Gold Standard and Its Economic Impact
• The Rise and Fall of the Roman Economy
• The Economic Implications of European Colonialism
• The Silk Road: Economic and Cultural Exchange
• The Impact of the Agricultural Revolution on Societal Development
• Mercantilism and Its Role in Shaping Modern Economics
• The Economic Causes and Consequences of World War II
• The Bretton Woods System and the Post-War Global Economy
• The History of the Global Oil Economy
• The Economic Impact of the Transatlantic Slave Trade
• The Evolution of Central Banking and Its Role in Economic Stabilization
• The Asian Financial Crisis of 1997: Causes and Effects
• The Economic History of the European Union
• The Role of Innovation and Technology in Economic Growth Through History
• The Economic Impacts of the Cold War
• The History and Development of Global Trade Agreements

💲 Tax Topics for an Essay

• The Economic Impact of Progressive vs. Regressive Tax Systems
• Tax Evasion and Avoidance: Causes, Consequences, and Solutions
• The Role of Taxation in Income Redistribution
• Comparative Analysis of Tax Systems in Different Countries
• The Impact of Corporate Taxation on Business Decisions and Growth
• Carbon Taxes and Their Effectiveness in Combating Climate Change
• The History and Evolution of Income Tax
• Value-Added Tax (VAT): Pros and Cons
• Tax Incentives for Small Businesses: Benefits and Drawbacks
• The Relationship Between Tax Policies and Economic Growth
• Digital Taxation: Taxing the Tech Giants
• The Ethics of Taxation: Balancing Government Needs and Taxpayer Rights
• Property Taxes and Their Impact on Housing Markets
• Tax Havens: Economic and Legal Implications
• The Effect of Sales Taxes on Consumer Behavior
• Tax Reforms: Case Studies and Their Outcomes
• The Role of Taxes in Healthcare Financing
• Estate Taxes and Wealth Distribution
• The Impact of Taxation on Investment and Savings
• Sin Taxes on Alcohol and Tobacco: Economic and Social Perspectives

Human Development Essay Topics

• The Role of Education in Human Development
• Impact of Early Childhood Development on Later Life Outcomes
• Gender Inequality and Its Effects on Human Development
• The Influence of Family Structure on Child Development
• Economic Growth and Its Impact on Human Development Indices
• The Role of Nutrition in Cognitive and Physical Development
• Cultural Influences on Personality and Identity Formation
• The Impact of Technology on Adolescent Development
• Mental Health and Its Importance in Human Development
• Social Policy and Its Effects on Vulnerable Populations
• The Role of Play in Child Development
• Adolescent Brain Development and Behavior
• The Effects of Poverty on Human Development
• The Impact of Globalization on Cultural Identity and Development
• Environmental Factors and Their Influence on Human Growth
• The Role of Language in Cognitive Development
• The Impact of War and Conflict on Children's Development
• Social Media and Its Influence on Youth Development
• The Role of Community in Shaping Individual Development
• Human Development and Disability: Challenges and Opportunities

Final thoughts

In summary, this list of economics essay topics covers a lot of important areas. From big-picture issues like world economies to smaller, everyday things like how we make choices about buying stuff, each topic helps us understand more about how money and business affect our lives and the world. Writing essays on these topics isn't just about schoolwork; it's also a way for students to really get into how economics works and how it touches everything we do. By studying these topics, students aren't just learning; they're getting ready to be smart and thoughtful members of society who understand the big economic issues that we all face.

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Home — Blog — Topic Ideas — 120 Essay Topic in Economics: Useful Ideas and Tips

120 Essay Topic in Economics: Useful Ideas and Tips

An essay on the study of economics offers a fascinating exploration of how societies allocate scarce resources to meet their unlimited wants and needs. Economics, often referred to as the "dismal science," provides valuable insights into the workings of markets, businesses, governments, and individual decision-making processes. As a social science, it analyzes human behavior in relation to the production, distribution, and consumption of goods and services.

By studying economics papers topics , students delve into a wide range of topics, ranging from microeconomics, which focuses on individual economic agents such as households and firms, to macroeconomics, which examines broader aspects of the economy, including inflation, unemployment, and economic growth.

The essay typically begins with an introduction that sets the context and provides a clear thesis statement outlining the main argument. It is essential to showcase a solid understanding of economic principles and theories while employing real-world examples and data to support arguments.

One of the critical aspects of an economics essay is the analysis of economic models and concepts. Students may explore theories like supply and demand, elasticity, market structures, cost-benefit analysis, fiscal and monetary policy, and more. Using empirical evidence and case studies, they can apply these concepts to real-world situations to demonstrate their understanding and analytical skills.

Moreover, an essay on economics often involves discussing current economic issues and policies. Analyzing economic challenges faced by countries, the impact of globalization, income inequality , environmental sustainability, or the role of government intervention are just a few examples of pertinent topics. Not surprisingly, many students have difficulty writing them. Perhaps we can help you if you study some economics essay examples and improve your knowledge.

To craft a compelling economics essay, students should conduct thorough research, draw from reputable sources, and critically evaluate various viewpoints. The essay should present a coherent and logical flow of ideas, supported by evidence and data, leading to well-reasoned conclusions. And in any case, it’s worth starting with an analysis of suitable topics, and in this article, we will try to help you by providing various ideas for reflection.

✨ Most Popular Economic Essay Topics

• The Role of Government in Shaping Economic Policies: A Comparative Analysis
• Globalization and its Impact on Emerging Economies
• Income Inequality: Causes, Consequences, and Solutions
• The Economics of Climate Change: Mitigation and Adaptation Strategies
• The Pros and Cons of Free Trade Agreements on National Economies
• Monetary Policy and its Effects on Inflation and Unemployment
• The Economics of Healthcare: Examining Costs, Access, and Quality
• The Impact of Technological Advancements on Economic Growth
• Behavioral Economics: Understanding Irrational Decision-Making
• The Economics of Education: Investing in Human Capital
• The Housing Market Bubble: Lessons from the 2008 Financial Crisis
• The Role of Entrepreneurship in Economic Development
• The Economics of Artificial Intelligence and Automation
• Government Debt and Fiscal Policy: Evaluating Sustainable Practices
• Economic Effects of the COVID-19 Pandemic: Challenges and Recovery Strategies

💡 Important Economic Essay Topics

Studying economics is essential for several reasons, as it provides valuable insights into the functioning of societies, markets, and individual decision-making processes. Here are some key reasons why studying finances and economics is important:

• Understanding Human Behavior: Economics analyzes how individuals, households, and firms make choices in the face of limited resources and unlimited wants. It provides a framework to understand human behavior and decision-making , which is crucial for businesses, policymakers, and individuals alike.
• Allocation of Resources: Economics helps societies allocate scarce resources efficiently. By studying concepts like supply and demand , production, and distribution, economists can identify optimal resource allocation to maximize overall welfare and economic growth.
• Impact of Policies: Economic analysis informs policymakers about the potential consequences of their decisions. It helps in formulating effective policies related to taxation, trade, monetary, and fiscal matters, aiming to improve economic conditions and societal well-being.
• Business Decision-Making: For businesses, understanding economic principles is crucial for strategic planning, pricing strategies, market analysis, and assessing risks and opportunities. Economic insights enable businesses to adapt to changing market conditions and make informed decisions.
• Global Perspective: Economics provides a global perspective, allowing nations to engage in international trade and understand the implications of globalization . It fosters cooperation and collaboration between countries to address economic challenges on a global scale.
• Addressing Inequality: Economic studies shed light on income and wealth distribution, allowing societies to address issues of inequality and poverty. Understanding the root causes of economic disparities can help design policies to promote inclusive growth and social justice.
• Personal Finance Management: Understanding economic principles can benefit individuals in managing personal finances, making informed investments, and planning for the future.

Thus, the study of economics is critical to understanding the complex dynamics of modern societies and economies. It is economics papers topics that provide individuals, businesses, and policymakers with valuable tools to make informed decisions, promote sustainable growth, and address pressing social and economic challenges locally, nationally, and globally.

Socio-Economic Essay Topics

• The Ever-Evolving American Dream.
• Is the American Dream Still Alive?
• The American Dream: Success, Mobility, Critiques.
• Socialism and Capitalism.
• Addressing Disparities of Health Equity.
• Relationship Between Income Inequality and Crime Rates.
• Abolishing Federal Minimum Wage: A Proposal.
• Impact of Minimum Wage Policies.
• Universal Basic Income: A Viable Solution or a Dangerous Experiment
• Poverty Alleviation Strategies: Lessons from Successful Programs.
• Unemployment and its Socio-Economic Effects.
• The Influence of Social Media on Consumer Behavior and Society.
• Socio-Economic Factors in Urbanization and Rural Migration.
• Socio-Economic Implications of Aging Populations.
• Immigration and its Effects on Socio-Economic Dynamics.
• Socio-Economic Effects of Access to Quality Healthcare and Education.
• Social Mobility and its Correlation with Economic Prosperity.
• The Intersection of Socio-Economic Status and Health Outcomes.
• The Role of Culture in Shaping Socio-Economic Patterns.
• Corporate Social Responsibility: Balancing Profitability and Social Welfare

International Economics Essay Topics

• The Impacts of Global Trade Agreements on Developing Economies
• Exchange Rate Policies and Their Effects on International Trade
• Foreign Direct Investment and Economic Development
• The Role of Multinational Corporations in the Global Economy
• Economic Integration in Regional Blocs: Pros and Cons
• The Balance of Payments: Trends and Challenges
• International Capital Flows and Financial Crises
• The Effectiveness of International Aid in Promoting Economic Growth
• The Economics of Globalization: Prospects and Challenges
• International Economic Sanctions: Rationale and Consequences
• The Role of International Organizations in Global Economic Governance
• The Impact of International Migration on Sending and Receiving Countries' Economies
• Trade Liberalization and Income Inequality in Developing Countries
• The Economics of Foreign Aid: Achievements and Limitations
• International Economic Policies and Income Distribution.
• The Significance of the Stock Market: History, Function, and Future
• Understanding Supply and Demand Dynamics
• The Role of Digital Currency in Shaping International Trade
• Environmental Policies and Their Impact on Global Economic Relations
• Technological Innovations and Their Influence on Global Supply Chains

Labor Economics Essay Topic Ideas

• The Evolution of Work and Employment
• FNP Employment Contract
• The Gig Economy: Challenges and Opportunities for Workers
• Labor Unions and Collective Bargaining in Modern Economies
• Technological Advancements and the Future of Work
• Labor Mobility and its Effects on Economic Growth
• Youth Unemployment: Addressing the Challenges of Entry into the Labor Market
• Labor Market Segmentation: Understanding Dual Labor Markets
• The Economics of Immigration and its Impact on Local Labor Markets
• Gender Wage Gap: Analyzing Causes and Closing the Divide
• Automation and Job Displacement: Policy Responses for the Workforce
• Human Capital Investment: Education and Training in the Labor Market
• Labor Market Policies for Aging Populations and Retirement Transitions
• Labor Market Flexibility and Employment Protection Legislation
• Income Inequality and its Connection to Labor Market Outcomes
• The Economics of Occupational Safety and Health
• Discrimination in the Workplace: Examining Persistent Disparities
• The Economics of Unemployment Insurance: Incentives and Impact
• Informal Labor Markets: Challenges and Policy Approaches
• Labor Economics of Developing Countries: Unique Issues and Solutions

Essay Topics in the Economics of Sports

• The Economics of Professional Sports Leagues: Revenue Sharing and Competitive Balance
• Stadium Financing and Economic Impact on Local Communities
• The Role of Salary Caps in Professional Sports: Fairness and Competitiveness
• Sports Sponsorship and its Influence on Branding and Revenue Generation
• Economic Analysis of Mega Sporting Events: Costs and Benefits
• Ticket Pricing Strategies in Sports: Maximizing Revenue and Fan Engagement
• Sports Betting and its Economic Implications
• The Economics of Player Transfers and Player Valuation in Sports
• Sports Broadcast Rights and Media Economics
• Youth Sports Participation and its Long-term Socio-Economic Effects
• The Economic Impact of Sports Facilities on Tourism and Local Economies
• Sports Analytics: The Role of Data in Player Performance and Team Strategies
• The Economics of Sports Franchise Relocation and Expansion
• Economic Incentives for Athletes: Performance-Based Contracts and Bonuses
• Sports Merchandising and Consumer Behavior: Factors Influencing Sales
• Esports Economics: The Rise of Competitive Video Gaming
• Sports Development Programs and Economic Growth in Developing Countries
• Economic Challenges of Doping and Anti-Doping Policies in Sports
• Sports Economics and Fan Loyalty: Factors Affecting Fan Spending and Attendance
• The Economic Impact of Sports Injuries on Players and Teams.

Essay Topics on City Economics

• Urbanization and Economic Growth: Trends and Implications
• The Economics of Gentrification: Effects on Housing and Communities
• Urban Transport Economics: Evaluating Public Transit and Mobility Solutions
• Urban Planning and Land Use: Balancing Economic Development and Sustainability
• The Impact of Urban Renewal Projects on Local Economies
• Housing Affordability in Urban Areas: Challenges and Policy Interventions
• Economic Incentives for Urban Development: Tax Incentives and Subsidies
• The Economics of Urban Sprawl: Costs and Benefits
• Urban Informal Economies: Informal Sector Dynamics and Contributions
• Urban Poverty and Social Exclusion: Analyzing Economic Disparities
• The Economics of Urban Crime: Strategies for Crime Reduction
• Urban Environmental Economics: Managing Pollution and Sustainability
• Smart Cities and the Economics of Technological Urban Innovations
• Urban Economic Resilience: Coping with Shocks and Disruptions
• The Economics of Urban Education: Addressing Inequality in Schools
• Urban Infrastructure Investment and Economic Productivity
• The Role of Cultural and Creative Industries in Urban Economies
• Urban Tourism Economics: Balancing Tourist Impact and Local Needs
• Urban Agriculture and Food Security: Economic and Social Benefits
• Urban Governance and Economic Development: The Role of Local Government.

Business Economics Essay Topics

• Cost-Benefit Analysis in Business Decision Making
• Customer Reviews and Sales Figures in E-commerce
• Market Structure and Business Performance: A Comparative Analysis
• Business Cycles and Their Impact on Economic Stability
• The Role of Entrepreneurship in Economic Growth and Innovation
• The Economics of Corporate Mergers and Acquisitions
• Business Ethics and their Influence on Economic Outcomes
• The Economics of Risk Management in Business Operations
• International Trade and its Effects on Business Competitiveness
• Environmental Sustainability in Business: Balancing Profit and Social Responsibility
• Business Strategy and its Relationship with Economic Performance
• The E-Commerce Impact on Traditional Businesses
• The Economics of Advertising and Consumer Behavior
• Business Innovation and its Influence on Industry Dynamics
• Small Business Economics: Challenges and Opportunities for Growth
• Economic Analysis of Market Entry and Exit Strategies
• Technology Adoption and its Impact on Business Efficiency
• The Role of Financial Markets in Business Operations and Investment
• The Economics of Supply Chain Management: Efficiency and Resilience
• Business Taxation and its Effects on Investment and Profits.

💫 Tips on How to Write Your Essay in Economics

Writing an economics essay can be intellectually stimulating but rewarding as it allows you to explore complex economic concepts, express your understanding effectively, and learn from various economics paper topics. To create a compelling economics paper topic, follow these basic steps:

• Understand the Essay Prompt: Carefully read and comprehend the essay prompt to grasp the specific question or topic you are required to address. Identify key terms and concepts to guide your research and analysis.
• Research and Gather Evidence: Conduct in-depth research using reputable sources such as academic journals, books, and economic databases. Collect relevant data and evidence to support your arguments and strengthen the essay's credibility.
• Create a Clear Thesis Statement: Formulate a concise and clear thesis statement that outlines the main argument or position you will be defending in the essay. The thesis should be specific, focused, and reflect the main point of your paper.
• Plan and Organize: Outline your essay structure before you begin writing. A well-structured essay should have an introduction, body paragraphs, and a conclusion. Each body paragraph should discuss a single main idea or argument, supported by evidence.
• Introduction: Start with an engaging introduction that provides context for your essay and introduces your thesis statement. Hook the reader's attention and provide a brief overview of the key points you will be discussing.
• Body Paragraphs: Each body paragraph should begin with a topic sentence that presents the main idea of the paragraph. Use evidence and examples to support your arguments and relate them back to your thesis. Analyze the data and discuss its implications in relation to the topic.
• Use Economic Terminology: Incorporate relevant economic terminology and concepts to demonstrate your understanding of the subject matter. However, avoid jargon that might confuse the reader.
• Critical Analysis: Provide a critical analysis of the economic theories and evidence presented. Evaluate strengths and weaknesses, and consider alternative viewpoints to present a balanced perspective.
• Counterarguments and Rebuttals: Address potential counterarguments to your thesis and provide well-reasoned rebuttals. Acknowledging opposing views enhances the credibility of your essay.
• Conclusion: Summarize the main points discussed in the essay and restate your thesis in a conclusive manner. Avoid introducing new information in the conclusion.
• Proofread and Edit: After completing your essay, review it carefully for clarity, coherence, and grammar. Ensure that your arguments flow logically, and make any necessary revisions to strengthen the overall quality.
• Cite Your Sources: Properly cite all the sources used in your research following the citation style specified by your instructor (APA, MLA, Chicago, etc.).

By following these steps, you can write a well-structured and persuasive economics essay that demonstrates your grasp of economic concepts and analytical skills, contributing to a comprehensive understanding of the subject matter.

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Economics Essay Topics: Valuable Tips

Economics is a subject that has gained immense popularity in recent times. It deals with interesting economics topics like the production, distribution, and consumption of goods and services. Moreover, it is a social science that provides insights into how individuals, businesses, and governments make decisions that affect the overall economy. Given its importance, economics essays have become a crucial part of the curriculum for students pursuing various degrees.

Short Description

In this article, our essay writer will take you on a journey through various exciting topics in economics. We'll cover everything from big-picture concepts like macroeconomics to more focused ideas like microeconomics, international trade, and economic policy. Our goal is to help you find the perfect topic for your economics essay—one that matches your interests and demonstrates your understanding of how economics affects the real world.

🎓 What is Economics: Understanding the Importance

Before we dive into the different economics essay topics, it is crucial to understand what economics is and its importance. Economics is a social science that deals with the production, distribution, and consumption of goods and services. It is concerned with how individuals, businesses, and governments make decisions about allocating resources to satisfy their unlimited wants and needs.

Economics as a science provides a framework for analyzing society's production, distribution, and consumption of goods and services. It helps us understand how markets work and how they can be improved to increase efficiency and welfare. Moreover, economic principles have significant implications for various social issues, including poverty, inequality, environmental sustainability, and public policy. By studying economics essay topics, we can gain insights into these issues and develop policies that promote rapid economic growth and social welfare.

When it comes to economics, the range of essay topics is vast and covers various aspects of human interactions on different levels. With so many possibilities to explore, we understand the difficulty of narrowing down your options. That's why our ' write me an essay ' experts are here to offer their guidance and support. We're ready to help you select the ideal topic if you wish to learn how to write informative essay on economics.

🧩 Tips for Choosing Your Ideal Topic

Choosing a topic is the first and most crucial step in writing an economics essay. Your topic will determine the direction and scope of your essay. Here are some tips for choosing the ideal topic from our finance essay writing service :

Tip 1: Understand the relevance of economics to daily life and choose a topic with practical applications.

Recognize that economics plays a significant role in our everyday lives, as it encompasses the production, distribution, and consumption of goods and services. Therefore, when selecting a topic, ensure its societal relevance. For instance, you might consider exploring 'The Impact of Automation on Employment Rates' or 'The Role of Government Regulations in Controlling Inflation.'

Tip 2: Opt for narrow economics research topics to make them more manageable and allow for in-depth exploration.

Instead of tackling broad subjects like 'International Trade,' narrow down your focus to something like 'The Effects of Tariffs on Small Businesses in the Agriculture Sector' or 'The Relationship Between Exchange Rates and Export Performance in Developing Countries.' By delving deeper into a specific aspect, you can provide more detailed financial analysis and insights.

Tip 3: Conduct preliminary research to identify current topics, debates, and research gaps.

Before finalizing your topic, engage in preliminary research to gain an understanding of recent trends and issues in economics. Explore academic journals, news articles, and books to discover areas that warrant further exploration. For example, you might come across intriguing research gaps such as 'The Impact of Cryptocurrencies on Financial Markets' or 'The Role of Behavioral Economics in Shaping Consumer Decision-Making.'

Tip 4: Seek input from peers or professors to enhance your topic selection process.

Collaborate with your peers during brainstorming sessions to generate fresh ideas and gain different perspectives on potential topics. Additionally, seek guidance from your professor, who can offer valuable insights and feedback to refine your chosen topic. For instance, you can discuss your ideas with classmates and receive suggestions like 'The Influence of Economic Policies on Income Inequality' or receive expert advice from your professor on 'The Implications of Globalization on Developing Economies.'

And if you want expert assistance in applying theoretical concepts to practice and creating an exceptional paper, then address your request to our custom essay writing services .

🗒 Economics Essay Topics: A Comprehensive List

If you are looking for a comprehensive list of interesting economics essay topics, you have come to the right place. Here are some ideas that you can consider:

• Central Banks in Fiscal Policy : Examine central banks' roles in setting interest rates, regulating money supply, and managing inflation.
• Automation and Labor Market : Analyze the impact of automation on jobs, including worker displacement and new job creation.
• Immigration and Labor Market : Explore immigration's effects on wages, job opportunities, and economic growth.
• Economics of Climate Change : Discuss the costs and economic impact of climate change mitigation and adaptation.
• Economics of Healthcare : Investigate healthcare costs, the role of insurance, and the impact of healthcare policies on the economy.
• Government's Economic Role : Examine how government policies, both fiscal and monetary, affect the economy.
• Globalization's Economic Impact : Analyze how globalization affects industries, trade, and employment.
• Poverty and Inequality : Explore the causes and effects of poverty and inequality and the role of government interventions.
• Economics of Education : Investigate education costs, its impact on economic growth, and the government's role in education.
• Marketplace Competition : Discuss how competition promotes economic growth, innovation, and consumer welfare.
• Economics of Entrepreneurshi p: Examine factors promoting entrepreneurship and its impact on the economy.
• Quantitative Easing and Recovery : Analyze how large-scale asset purchases influence inflation, employment, and economic stability.
• Renewable Energy Economics : Assess the costs, benefits, and challenges of transitioning to renewable energy.
• Technological Innovation : Explore how R&D and digitalization impact productivity, job creation, and economic competitiveness.
• Behavioral Economics and Decision-Making : Investigate how cognitive biases and heuristics influence consumer behavior and market outcomes.

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🧮 Macroeconomics Essay Topics

Macroeconomics is a fascinating and complex field of study that aims to understand the overall performance of an economy. It takes into account various factors such as economic growth, inflation, unemployment, and trade policies. If you are looking for some thought-provoking macroeconomics essay topics, here are a few that you might find interesting:

• The Impact of Fiscal Policy on Economic Growth
• Monetary Policy and Inflation Control: Case Studies from Different Countries
• The Role of Central Banks in Modern Economies
• The Effects of Globalization on National Economies
• Unemployment Rates and Economic Stability
• The Influence of Political Stability on Economic Development
• The Economics of Recession and Recovery
• Debt Crisis: Causes and Solutions
• The Relationship Between Exchange Rates and International Trade
• The Future of Cryptocurrencies in the Global Economy

📉 Microeconomics Essay Topics

Microeconomics focuses on the behavior of individual consumers and businesses in the market. The principles of microeconomics are used to analyze how these entities make decisions, interact with each other, and influence the overall economy. If you're interested in exploring this field further, here are some microeconomics essay topics that you might find interesting:

• The Theory of Consumer Choice and Its Applications
• Market Structures: Comparing Perfect Competition, Monopolies, and Oligopolies
• Price Elasticity of Demand: Importance and Calculation
• The Role of Government in Market Failures
• The Economics of Labor Markets and Wage Determination
• The Impact of Minimum Wage Laws on Small Businesses
• Behavioral Economics: How Human Psychology Affects Economic Decisions
• Game Theory and Its Applications in Business
• The Economics of Information and Market Efficiency
• The Impact of Technology on Production and Costs

🎏 International Economics Essay Topics

International economics deals with the economic interactions between countries, including trade, investment, and migration. Here are some international economic relations topics:

• The Pros and Cons of Free Trade Agreements
• The Impact of Tariffs and Trade Wars on Global Economies
• Exchange Rate Dynamics and International Trade
• The Role of International Organizations in Global Trade
• Economic Integration: Case Studies of the EU and NAFTA
• The Economics of Developing Countries: Challenges and Opportunities
• Foreign Direct Investment: Benefits and Risks
• Global Supply Chains and Their Economic Implications
• The Role of Multinational Corporations in Globalization
• The Impact of Currency Crises on Emerging Markets

📉 Behavioral Economics Essay Topics

Behavioral economics combines psychology and economics to analyze how people make decisions. Here are some behavioral economics essay topics:

• The Role of Cognitive Biases in Economic Decision-Making
• How Social Preferences Influence Market Outcomes
• Behavioral Insights into Consumer Credit Usage
• The Impact of Behavioral Economics on Public Policy
• Nudging and Its Effectiveness in Changing Economic Behavior
• The Psychology of Saving and Investment Decisions
• The Influence of Emotions on Economic Decisions
• Behavioral Economics and Health-Related Decision-Making
• The Economics of Happiness: Measuring Well-Being
• The Role of Heuristics in Financial Decision-Making

🚑 Healthcare Economics Essay Topics

Healthcare economics analyzes how the healthcare system operates, including the costs and benefits of healthcare interventions. Here are some healthcare economics essay topics:

• The Economics of Universal Healthcare Systems
• The Impact of Health Insurance on Medical Costs
• The Role of Government Regulation in the Pharmaceutical Industry
• Cost-Benefit Analysis of Preventive Healthcare
• The Economics of Aging Populations and Healthcare Demand
• The Effectiveness of Public Health Interventions
• The Impact of Technological Advancements on Healthcare Costs
• Healthcare Disparities: Economic Causes and Solutions
• The Economics of Mental Health Services
• The Role of Economic Incentives in Health Behavior Change

🌎 Consumerism Essay Topics

Consumerism refers to the cultural and economic mindset that encourages the acquisition of goods and services. Here are some consumerism essay topics:

• The Impact of Advertising on Consumer Behavior
• Consumerism and Its Effects on the Environment
• The Role of Credit in Modern Consumerism
• The Psychology Behind Impulse Buying
• The Economic Implications of the Sharing Economy
• The Relationship Between Consumerism and Economic Growth
• Ethical Consumerism: Trends and Economic Impact
• The Influence of Social Media on Consumer Spending
• The Role of Consumer Protection Laws in Market Economies
• The Impact of Globalization on Consumer Choices

📚 Economic History Topics

Economic history is a field of study that examines the historical development of economic systems, policies, and institutions, as well as the social, political, and cultural factors that have influenced economic outcomes over time. Here are the 10 interesting topics:

• The Great Depression: Causes, Consequences, and Recovery
• The Economic Impact of World War II
• The Industrial Revolution and Economic Development
• The Evolution of Trade and Commerce in Ancient Civilizations
• The Economic Effects of Colonialism
• The Rise and Fall of the Gold Standard
• The History of Banking and Financial Institutions
• Economic Reforms in Post-Soviet States
• The Role of Agriculture in Early Economic Systems
• The Economic History of the Silk Road

📊 Public Finance Research Topics

Public finance research focuses on the study of the government's role in the allocation, distribution, and management of resources within an economy. It encompasses the analysis of public revenues, expenditures, taxation policies, and the impact of government interventions on economic outcomes and social welfare. Here are 10 relevant economics papers topics:

• The Role of Government in Economic Stabilization
• The Impact of Taxation on Economic Growth
• Public Debt and Its Implications for Future Generations
• The Economics of Social Security Systems
• Fiscal Policy and Income Inequality
• The Effectiveness of Government Spending on Education and Healthcare
• The Role of Public-Private Partnerships in Infrastructure Development
• The Economic Impact of Environmental Taxes
• The Challenges of Pension Fund Management
• The Role of Fiscal Rules in Economic Governance

Closing Remarks 

To wrap up, economics is a subject that offers insights into how the world works. It provides a framework for analyzing complex social issues, including poverty, inequality, and public policy. Therefore, exploring economics essays topics is an excellent way of understanding the subject's relevance in the real world.

By following the tips for choosing your ideal topic and exploring the comprehensive list of economics topics for an essay, you can write an insightful and inspiring paper that contributes to the ongoing dialogue on economics.

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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

• Try to engage with arguments that run counter to yours, and use the evidence you have found to show the flaws.
• It might help to imagine someone reading the essay, and anticipating the objections that he might raise.
• Showing that you have thought about potential problems, and you can make an argument that overcomes them, is a hallmark of an excellent essay. [6] X Research source
• If there is conflicting evidence, discuss it openly and try to show where the weight of the evidence lies. [7] X Research source
• Don’t just ignore the evidence that runs counter to your argument.

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

Proofreading and Making Revisions

• As you read through it, think about how closely you stick to main overarching question.
• If you notice paragraphs that drift off into other areas, you need to be tough and cut them out.
• You have a limited number of words so it’s essential to make every one count by keeping tightly focussed on the main question.

• Think about how you use the evidence too. Do you critically engage with it, or do you merely quote it to support your point?
• A good analytical essay such discuss evidence critically at all times.
• Even if the evidence supports your argument, you need to show that you have thought about the value of this particular piece of data.
• Try to avoid making any assumptions, or writing as if something were beyond dispute. [10] X Research source

• Remember an academic essay should be written in a formal style, so avoid colloquialisms.
• Avoid contractions, such as “don’t”, or “won’t”.
• Try to avoid paragraphs that are more than ten or fifteen lines long.
• Think about how it looks on the page. [12] X Research source

• Always include a bibliography, but don’t include references to things you haven’t read or didn’t inform your argument. [13] X Research source
• Your teacher will know if you just add a load of titles into your bibliography that are not evidenced in the body of your essay.
• Always follow the bibliography format used by your department or class.

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• ↑ http://www.economicshelp.org/help/tips-economic-essays/
• ↑ http://www.writing.utoronto.ca/advice/planning-and-organizing/organizing
• ↑ http://carleton.ca/economics/courses/writing-preliminaries/academic-essay-writing/
• ↑ https://www.economicsnetwork.ac.uk/archive/lse_writing/page_11.htm
• ↑ http://homes.chass.utoronto.ca/~mcmillan/writing.pdf
• ↑ https://www.royalholloway.ac.uk/economics/documents/pdf/essaywriting-departmentofeconomics.pdf

About This Article

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

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Economics Essay Examples

Ace Your Essay With Our Economics Essay Examples

Published on: Jun 6, 2023

Last updated on: Jan 31, 2024

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

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

But don’t worry! 

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

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

Let’s dive in and get started!

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What is an Economics Essay?

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

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

Why Write an Economics Essay?

Writing an economics essay serves multiple purposes:

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

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

Short Essay About Economics

A Level Economics Essay Examples

Here is an essay on economics a level structure:

Band 6 Economics Essay Examples

Here are some downloadable economics essays:

Economics essay pdf

Economics essay introduction

Economics Extended Essay Examples

In an economics extended essay, students have the opportunity to delve into a specific economic topic of interest. They are required to conduct an in-depth analysis of this topic and compile a lengthy essay. 

Here are some potential economics extended essay question examples:

• How does foreign direct investment impact economic growth in developing countries?
• What are the factors influencing consumer behavior and their effects on market demand for sustainable products?
• To what extent does government intervention in the form of minimum wage policies affect employment levels and income inequality?
• What are the economic consequences of implementing a carbon tax to combat climate change?
• How does globalization influence income distribution and the wage gap in developed economies?

IB Economics Extended Essay Examples 

IB Economics Extended Essay Examples

Economics Extended Essay Topic Examples

Extended Essay Research Question Examples Economics

Tips for Writing an Economics Essay

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

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

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

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

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

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

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

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

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

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Economics Revision Essay Plans

Last updated 17 Dec 2019

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

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

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

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Revision essay: exchange rate depreciation and macroeconomic objectives, to what extent should full-employment be the main macro policy objective, housing supply (revision essay plan), minimum alcohol pricing (revision essay plan), oligopoly and collusion (revision essay plan), building confidence in writing synoptic 25 mark essays (edexcel), behavioural and neo-classical economics (revision essay plan), barriers to entry and economic profit (revision essay plan), micro and macro impact of a plastic tax (revision essay plan), edge revision webinar: market failure and government intervention, farm subsidies (revision essay plan), competitiveness of the uk motor industry (revision essay plan), labour migration (revision essay plan), financial market failure (revision essay plan), tariff on chinese steel (revision essay plan), policies to improve food affordability (revision essay plan), reducing a trade deficit (revision essay plan), museums and government subsidy (revision essay plan), fiscal policy and inequality (revision essay plan), globalisation and inequality (revision essay plan), economic inactivity (revision essay plan), competition and consumer welfare (essay technique video), essay plan: is the euro the main cause of the crisis in greece and italy, china: successes and failures essay plan, our subjects.

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Economics Extended Essay Topics: 40+ Topic Ideas for You

by  Antony W

September 2, 2022

We’ve covered quite a lot on Economic EE in this guide . You now know the nature of this extended essay, its structure and the assessment criteria used. In this guide, we give you a list IB Economics Extended Essay topics.

We’re doing this for two reason:

• We want to help you make the topic selection process easy, so you don’t spend a lot of time on this.
• You scan the list and pick a topic that suits your interest, as long as you can come up with a relevant research issue to discuss in 4,000 words.

Economics Extended Essay Writing Help

As interesting as the Economics subject is, writing the 4,000-word Extended Essay may not be as easy.

You’ll need to invest time in topic selection, preliminary research, development of research issue, further research, and writing.

The whole process can be somewhat complex and sometimes intimidating. Here’s where our writing help comes in.

Help for Assessments  Extended Essay writers   are available for hire at an affordable price, and we offer the best writing help that you can find on the internet.

We will help you with topic selection if you haven’t identified one, develop the most relevant research issue, conduct in-depth research for your topic, and write your Economics Extended Essay.

By taking advantage of our writing help, you can worry less about how overwhelming the IB course is and focus on your reflection sessions instead.

Get in touch with us today and benefit from the flexibility of our writing service.

Best Economics Extended Essay Topics 

• Is it possible for a country's bankruptcy to bring on a financial crisis?
• In what ways do customers who have loans put themselves at danger of experiencing a financial crisis?
• In the field of economics, what do you think is the most effective technique to safeguard sensitive information?
• What is the connection between advertising on television and the expansion of a business?
• What kinds of ethical considerations should be made when it comes to marketing in the context of economics?
• How does the investment of commercial capital influence the growth of an economy in a particular nation?
• What kind of consequences does it have on the manufacturer when consumers boycott their goods?
• Should the duration of the typical workweek be increased for all employees?
• What are the contributions that unions make to the growth of the economy?
• What steps can the government take to boost employment in order to improve the state of the economy?
• How do we enhance the workforce so that we can raise the amount of items that we produce?
• What causes certain countries to develop quicker than others do? Or, why do certain nations have significantly higher income levels than others?
• Why do we see these things happening in this country? Or, how does the organizational make-up of a country influence its economic output?
• What factors contribute to shifts in a given economy throughout time? Alternatively, what factors contribute to economic expansion? Is it fair for countries to erect trade barriers against one another to shield their nascent industries?
• How reliant are scientific advancements and economic expansion on the accumulation of capital?
• Can a country be made to abandon its offensive policies or practices by use of economic sanctions?
• Is it more likely that countries would use dialogue to settle territorial conflicts rather than resorting to war?
• Does first-world countries benefit from third-world countries' debt?
• Is there a level playing field for developed and developing nations in international trade?
• How might a developing nation's economy be stimulated most effectively?
• When it comes to fostering democracy and peace, how effective are free markets and free trade?
• Is the upside of greater foreign investment enough to outweigh the downside of international capital flows?
• How much do you think wealthy nations' aid can do to alleviate poverty in the developing world?
• Whether or whether a market failure exists, and what form it takes
• Competition monopolization possibility
• Interference from the state in free market pricing
• Promotion's function in a free market economy
• To what extent do externalities have a role in the economic decisions made by consumers and producers?
• The impact of public goods on private industry
• The impact of taxes and subsidies on the economy
• The optimum amount of production for companies in a sector
• What causes market pricing for a product or service to fluctuate
• Efficiency against fairness: the market economy's trade-off
• The market mechanism through which prices for products and services are set
• Examining the infrastructures that provide data on a country's agricultural progress
• The rise of the freelance workforce and its effects on national economies throughout the world
• Urban planners in Dubai came up with ingenious strategies to construct a metropolis in the middle of a desert.
• What elements are most important to the retail productivity of cities?
• Is there any evidence to suggest that more teams that are expensive win more games?
• What sort of effect does a home club have on the economy of its city?
• Does the current problems of a sports team have anything to do with the fact that they don't have enough money?
• The globalization of the information technology sector and its ramifications for society and politics
• Slavery of the human body in third world countries because of globalization
• Exactly what function do banks serve in a free market economy?
• What effect do you think cryptocurrency will have on national economies?
• Consider the macro economy and conduct an analysis of the United States in 2007 (during the Great Recession) from that vantage point.
• Is there any correlation between homelessness and the national economy?
• In light of China's recent extraordinary economic development, what place will it play in the global economy?
• How do variables like inflation, GDP, tax rates, and consumer spending affect the U.S. stock market?
• Review the role that various macroeconomic factors play in the expansion of a country's economy and the impact that these variables have on that expansion.
• What impact has the COVID-19 epidemic had on economies throughout the world?
• Among the macroeconomic variables, which one do you think would have the most effect on a particular sector?
• Does the price of oil have any bearing on a country's gross domestic product?
• Analyze the causes and effects of inflation in the United States from a macroeconomic viewpoint.

Related Readings

• Business Management Extended Essay Topics
• Math Extended Essay Topics
• IB World Extended Essay

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Economics - Essay Examples And Topic Ideas For Free

Economics is the social science that studies the production, distribution, and consumption of goods and services. An essay could explore economic theories, discuss contemporary economic challenges like inflation or unemployment, or analyze the impact of economic policies on societal wellbeing and global interactions. We have collected a large number of free essay examples about Economics you can find at PapersOwl Website. You can use our samples for inspiration to write your own essay, research paper, or just to explore a new topic for yourself.

Apple in Microeconomics

As inter-specific competition increases between companies, especially in the same product line, there is need to come up with better and innovative ways to market their brand. These product enhancement techniques need to meet the current consumer demands and tastes and preferences. However, there are other factors like quality, quantity, and price that also affect how consumers view an individual product and its purchasing power. Proper market intelligence is very crucial to an enterprise especially in the early development stages […]

Economics of Globalization

Tata Motors Limited located in India and in different countries all over the world. where economic growth has started for decades. Still, there are some challenges that can affect the growth rate in all respect. Like GDP; growth; business cycle; inflation; unemployment; political stability; trade balance. Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2016-17 is likely to attain a level of 121.65 lakh crore INR, with a growth rate of 7.1 percent over […]

Unemployment as a Social Issue

Introduction. Unemployment is real issue in the modern society and has devastating impact on people's lives. The effects are not limited to the unemployed individual but also family members and the wider community. As unemployment is time bound, with the duration of unemployment have far reaching effects even affecting the living standards in retirement 2. The loss of an income by a parent can potentially damage the prospects of the next generation. In additional to the personal impact, unemployment is […]

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Unemployment Within the Economics

Most of the socio-economic studies indicated that unemployment within the economics of crime studies is positively related to crime. Committing crime without failing while unemployed has a higher reward (Burdett et al, 2004). Unemployment shows lack of opportunity for participation in the labour market and the acquisition of legitimate earnings (Freeman, 1999). The exclusion from legitimate income opportunities raises the expected returns from crime, the economics of crime theories have confirmed. Although, most of the empirical studies show a positive […]

Fact Vs. Opinion: the Positive-Normative Divide in Economics

Ever been in a debate where someone drops a stat, and someone else counters with what should be done? Welcome to the world of economics, where this kind of back-and-forth isn't just common; it's the crux of understanding two key concepts: positive and normative economics. Picture them as two sides of a coin – one’s about hard facts, and the other’s about what we feel ought to be the case. First up, positive economics. This is the nitty-gritty, the down-to-earth […]

How Competitive Forces Shape Strategy

Introduction Porter How Competitive Forces Shape Strategy was introduced in the year 1979. In this article, Porter talks about five forces that affect the performance of a company in the market. These forces include firstly the threat of entrance which talks about how new industries try to enter the market. Porter continues by arguing that strategy can be perceived as creating defenses in opposition to competitive forces or even finding a spot in an industry where there is a weaker […]

Economics Symbolism: a Harmonious Ballet of Services in the Economic Arena

In the intricate tapestry of economic choreography, services emerge as the unsung maestros, conducting nations forward and acting as the stealthy architects of prosperity. This essay delves into the pivotal role played by service industries in fostering economic growth, spotlighting their significance as the unseen engines of innovation, employment, and overall economic vitality. At the core of a flourishing economy lies the dynamic realm of services. While the limelight often gravitates towards manufacturing and agriculture, services discreetly hold a central […]

Zimbabwe’s Economics Turmoil: Navigating the Perils of Hyperinflation

Zimbabwe's history is marked by economic upheavals, with one of the most striking chapters being the era of hyperinflation, a period that shook the nation to its core and left an indelible mark on its economic landscape. In the early 2000s, Zimbabwe experienced a cataclysmic economic downturn characterized by hyperinflation—a staggering surge in prices that eroded the value of the country's currency at an exponential rate. The hyperinflationary spiral was catalyzed by a complex interplay of factors, including fiscal mismanagement, […]

What are Private Property Rights?

Property and prosperity rights are inseparably linked. The significance of having strongly protected and clearly defined property rights is currently widely recognized among policymakers and economists. A private property right provides people the exclusive right to utilize their resources as they see appropriate (Calandrillo, et al., 2015). That power over what belongs to them leads property users to be responsible of all the costs and benefits of employing those assets in a certain way. The process of weighing between benefits […]

Deciphering the Circular Flow Model in Economics

In the discipline of economics, the Circular Flow Model is a cornerstone that offers a basic comprehension of the inner workings of the economy. This model illustrates the movement of commodities, services, and monetary transactions while simplifying the many relationships inside an economy into a system that is simple to comprehend. The goal of the article is to explore the complexities of this model by looking at its composition, the functions of its main actors, and its wider applications in […]

Youth Unemployment

Exploring factors hindering the implementation of youth development package in addressing youth unemployment:) CHAPTER ONE 1. Introduction 1.1. Background of the study The reason for investing in young people is clear. Today, 1.2 billion adolescents stand at the challenging crossroads between childhood and the adult world (UNICEF, 2011). Youths represent 25 per cent of the working age population and account for 47 per cent (88 million) of the world’s unemployed people. An estimated 515 million young people, nearly 45 per […]

Unemployment Analysis

The U.S. Government considers a person unemployed if they are at least 16 years of age, willing and able to work, and who are actively seeking employment, but have not found a job. To be considered unemployed, someone does not have to lose a job. The unemployment rate also includes people who are returning to work, for instance, a stay at home parent returning to work. A person entering the job market for the first time, like a recently graduated […]

What are Taxes?

What are taxes, and why do people have to pay? Taxes are financial charges from our government in order to pay for our public needs, and in 2016 the government collected 3.9 trillion dollars in taxes to spend. There are many different types of taxes like income tax, federal income tax, sales tax, property tax, estate tax, and more. Twenty percent of households pay around seventy percent, and the top one percent has to pay a quarter of taxes. The […]

View of Students about Unemployment

This study considers the effectiveness of public and private sector SME-development programs and the current development of SMEs in AJK. The study presents several major findings and includes a brief review of international literature. To examine the status of small and medium-sized enterprises and their developmental strategies, a questionnaire survey was conducted among owners and top managers. A Chi-square test was used to analyze the information. The results reveal that SMEs face numerous challenges, including burdensome business rules and regulations, […]

How does the Unemployment Rate Effect the Economy?

The rate of unemployment is more than a percentage of unemployed people, it is used as key a macroeconomic indicator when determining the health of an economy. The unemployment rate is found by taking the labor force and dividing it by the number of people who are currently searching for a job, also know as the number of unemployed people. The unemployment rate is composed from three types of unemployment: frictional, cyclical, and structural. This could create a potentially serious […]

Rule of Law and Political Stability in Nigeria’s Governance and Economic Policy

Institutional qualities are the major determinant of good governance within every aspiring country. Factors such as voice and accountability, regulatory control, control of corruption, government effectiveness, rule of law, and political stability come into play. This study will focus on the rule of law and political stability as proxies for good governance. Good governance of a nation pertains to the management of the public sectors of the economy in terms of accountability, efficiency, and effectiveness, along with the free flow […]

Unemployment in the Country

An adage says "an idle hand is a devil's workshop". The enormous growth of unemployment in our society today calls for alarm, and it is expedient for all nations to figure out what leads to this great dilemma. Unemployment has messed up our society because of three major factors, such as increase in population, lack of encouragement for self-employment, and change in technology. One of the major causes of unemployment is increase in population. Increase in population is an event […]

Income Inequality and Economic Growth in Pakistan

In time series data, which indicates that increasing income inequality is likely to spur higher levels of GDP, certain examples become apparent. For instance, Shahbaz (2010) employed a time series data on Pakistan for the period 1971-2005, using the ARDL bound test approach, to determine the relationship between income inequality and economic growth in Pakistan. The results show that income inequality is positively and significantly related in both long-run and short-run with economic growth in Pakistan. Gelan and Price (2003) […]

Main Issues of American Taxes

Taxes are something every American has to do in their life. It's a responsibility that every American file their taxes. A lot may not agree with the idea of taxes up, so they don't pay them. Should I pay them? Is a popular tax question and, should taxes be the same for everyone? My goal in this paper is to see both sides of the two questions and figure the reason behind them and get a further understanding of taxes. […]

Examining GDP and Unemployment

Research over the years has shown that unemployment rates and Gross Domestic Product (GDP) figures go hand in hand. This paper aims to define and discuss GDP, and its relation to economic growth. Additionally, the paper will discuss how the use of fiscal or monetary policies can effectively battle recession and aid in the growth of the economy, and how losing a battle to a recession can severely impact unemployment and the unemployment rate, along with other factors leading to […]

Unemployment in the U.S

As indicated by the Bureau of Labor Statistics, the rate of unemployment in the United States has increased at an alarming rate. Approximately six million people in the United States are unemployed, according to deptofnumber.com. This has negatively affected the nation's economy. The statistics reveal the unemployment rates for various groups of people in the country. The rate of unemployment among men was at 7.0 percent, and approximately 6.4 percent among women. The increase in the rate of employment among […]

The Problems on Income Inequality

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, […]

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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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Economics Extended Essay Topic Ideas for IB Students

Table of contents

• Writing Metier

The International Baccalaureate Extended Essay in Economics can cover a wide range of topics. However, the choice of topic must enable the student to apply a range of economic theories and concepts to address a research question. 

This will be a long read, but everyone will likely find a good idea of the topic and research question for their Economics extended essay.

Extended essay in Economics topic categories

The IB Economics EE is expected to demonstrate a good understanding of the subject and the application of economic theory to real-world situations .

Btw…if you need assistance, you can always count on our extended essay writing service at Writing Metier. We will help you with your Economics extended essay.

Here are 12 potential categories for IB Economics Extended Essay topics:

• Market Structures (e.g., Monopolies, Oligopolies)
• Market Failure (e.g., Externalities, Public Goods)
• Elasticity (e.g., Price Elasticity of Demand/Supply)
• Economic Cycles (e.g., Business Cycles, Economic Growth)
• Fiscal Policy (e.g., Government Spending, Taxation)
• Monetary Policy (e.g., Interest Rates, Money Supply)
• Trade Policies (e.g., Tariffs, Trade Agreements)
• Exchange Rates (e.g., Currency Fluctuations, Foreign Exchange Markets)
• Balance of Payments (e.g., Current Account, Capital Account)
• Measures of Development (e.g., GDP, HDI)
• Poverty and Inequality (e.g., Income Distribution, Poverty Alleviation Strategies)
• Sustainable Development (e.g., Environmental Sustainability, Social Sustainability)
• Consumer Behavior (e.g., Bounded Rationality, Heuristics)
• Nudge Theory (e.g., Choice Architecture, Incentives)
• Market Behavior (e.g., Bubbles, Herd Behavior)
• Wage Determination (e.g., Minimum Wage, Bargaining)
• Labor Markets (e.g., Unemployment, Labor Mobility)
• Human Capital (e.g., Education, Training)
• Resource Management (e.g., Renewable Resources, Conservation)
• Environmental Policies (e.g., Carbon Tax, Emissions Trading)
• Cost-Benefit Analysis (e.g., Environmental Impact Assessments)
• Healthcare Systems (e.g., Insurance, Public vs. Private Provision)
• Health Outcomes (e.g., Life Expectancy, Quality of Life)
• Health Policies (e.g., Regulation, Subsidies)
• Government Expenditure (e.g., Public Goods, Welfare)
• Taxation (e.g., Progressive vs. Regressive Taxes)
• Fiscal Federalism (e.g., Central vs. Local Government Finance)
• Firm Behavior (e.g., Mergers, Acquisitions)
• Market Regulation (e.g., Antitrust Laws, Competition Policy)
• Innovation and Technology (e.g., R&D, Patents)
• Financial Markets (e.g., Stock Markets, Bond Markets)
• Financial Instruments (e.g., Derivatives, Futures)
• Financial Regulation (e.g., Banking Regulation, Financial Crises)
• Economic Thought (e.g., Classical, Keynesian)
• Economic History (e.g., Historical Economic Development, Historical Crises)
• Methodological Issues (e.g., Econometrics, Qualitative vs. Quantitative Analysis)

Each of these categories can be further refined into specific research questions suitable for an extended essay . Below, I’ll be providing some ideas for your ease.

The choice of topic should be such that it allows for a systematic investigation that can be effectively analyzed using economic theories and data. 

It’s also essential to ensure that the topic is narrow enough to be addressed within the word limit and broad enough to allow for an in-depth analysis.

Economics IB EE Topic Ideas and Research Questions

Starting with Microeconomics, we’re zooming in on the nitty-gritty of individual markets and how they tick. 

Microeconomics Topics and Research Questions

We’ve got our classic battles of market structures—monopolies holding the fort, oligopolies playing chess with each other, and perfect competition being the ideal we rarely meet.

Then there’s the whole drama of market failure, where things get messy with externalities and public goods, and no one’s quite sure who should clean up the mess. 

And elasticity? It’s like the pulse check of the market, seeing how it reacts to price changes. It’s all about the small scale, the details, the fine print.

Market Structures

Topic:  The impact of local monopolies on consumer choice in rural areas.

Research Question:  How do local monopolies in rural areas affect consumer choices and prices?

Topic:  The competitive strategies of oligopolies in the smartphone industry.

Research Question:  What competitive strategies do oligopolies in the smartphone industry use to maintain market share?

Topic:  The prevalence of monopolistic competition in the fast-food industry.

Research Question:  How does monopolistic competition influence product variety in the fast-food industry?

Market Failure

Topic:  The role of government in addressing negative externalities in urban transport.

Research Question:  How effective are government interventions in reducing traffic congestion as a negative externality in urban areas?

Topic:  The effectiveness of public goods provision in rural education.

Research Question:  How does the provision of education as a public good affect educational outcomes in rural areas?

Topic:  The impact of plastic bag taxes on environmental externalities.

Research Question:  Have plastic bag taxes significantly reduced the environmental externalities associated with plastic waste?

Topic:  Price elasticity of demand for organic produce in urban markets.

Research Question:  How does the price elasticity of demand for organic produce affect consumer purchasing patterns in urban markets?

Topic:  Cross-price elasticity between electric cars and fossil fuel vehicles.

Research Question:  What is the cross-price elasticity of demand between electric cars and fossil fuel vehicles, and what does it imply for future sales?

Topic:  The elasticity of supply in the housing market during economic booms.

Research Question:  How does the elasticity of supply in the housing market respond to economic booms?

Macroeconomics Topics and Research Questions

But then we step back and look at the big picture with Macroeconomics. Here we’re talking about the economy’s heartbeat—those business cycles that keep us on our toes, wondering if we’re heading for a boom or bracing for a bust. 

Governments step in with their fiscal policies, wielding taxes and spending like surgeons trying to fix the economy without making it bleed out. 

And let’s not forget the central banks, playing with interest rates and money supply like some high-stakes game of poker.

Economic Cycles

Topic:  The impact of economic cycles on unemployment rates in industrial sectors.

Research Question:  How do different phases of economic cycles affect unemployment rates in the manufacturing sector?

Topic:  The correlation between economic growth and income inequality.

Research Question:  Is there a significant correlation between economic growth and the level of income inequality in developed countries?

Topic:  The role of technological innovation in driving economic cycles.

Research Question:  To what extent does technological innovation influence the length and magnitude of economic cycles?

Fiscal Policy

Topic:  The effectiveness of fiscal stimulus in recession recovery.

Research Question:  How effective are fiscal stimulus packages in accelerating recovery from recessions?

Topic:  The impact of taxation on small businesses and economic growth.

Research Question:  What is the impact of changes in small business taxation on economic growth?

Topic:  Government spending priorities and their impact on long-term economic growth.

Research Question:  How do government spending priorities influence long-term economic growth?

Monetary Policy

Topic:  The effects of interest rate changes on consumer spending.

Research Question:  How do changes in the central bank’s interest rate affect consumer spending patterns?

Topic:  The relationship between money supply growth and inflation.

Research Question:  What is the relationship between the growth of money supply and the rate of inflation in emerging economies?

Topic:  Central bank policies and their impact on currency exchange rates.

Research Question:  How do central bank policies in developed countries affect their currency exchange rates?

Each of these topics and research questions can be tailored to fit the specific requirements of an IB Economics Extended Essay , including the availability of data, the scope of the research, and the word count limitations. 

It’s important to conduct preliminary research to ensure that there is enough material to support the investigation.

Next stop, International Economics. This is where countries shake hands or sometimes wrestle over trade policies. 

International Economics Topics and Research Questions

Tariffs, trade agreements, and who gets the better deal—it’s like a global marketplace where everyone’s trying to haggle their way to prosperity. 

Exchange rates bounce around like ping pong balls, and the balance of payments tells us who’s spending too much on their credit card and who’s got money in the bank.

Trade Policies

Topic:  The impact of trade tariffs on the domestic automobile industry.

Research Question:  How have recent changes in trade tariffs affected the competitiveness of the domestic automobile industry?

Topic:  The effectiveness of free trade agreements in promoting economic growth.

Research Question:  What has been the impact of free trade agreements on the economic growth of member countries?

Topic:  The role of trade policies in protecting local agriculture.

Research Question:  How do trade policies affect the sustainability and profitability of local agricultural sectors?

Exchange Rates

Topic:  The effects of exchange rate fluctuations on the tourism industry.

Research Question:  How do exchange rate fluctuations impact the number of international tourists and tourism revenue?

Topic:  Currency wars and their impact on global trade.

Research Question:  What are the consequences of competitive devaluations, often referred to as ‘currency wars’, on global trade dynamics?

Topic:  The relationship between commodity prices and currency strength in exporting countries.

Research Question:  How do fluctuations in commodity prices affect the exchange rate of commodity-exporting countries?

Balance of Payments

Topic:  The impact of remittances on the balance of payments in developing countries.

Research Question:  What role do remittances play in the balance of payments of developing countries?

Topic:  Foreign Direct Investment (FDI) and its effect on the current account balance.

Research Question:  How does FDI influence the current account balance of emerging economies?

Topic:  The effects of tourism on the balance of payments in small island economies.

Research Question:  What is the significance of tourism revenue in the balance of payments of small island economies?

Then we get into the meaty issues with Development Economics. 

Development Economics Topics and Research Questions

It’s all about asking, “Are we getting better?” We measure development with things like GDP and the Human Development Index, but they don’t always tell the full story. 

We’re also tackling the tough stuff like poverty, inequality, and whether we can keep growing without trashing the planet. It’s about making sure progress today doesn’t rob tomorrow.

Measures of Development

Topic:  The correlation between GDP growth and improvements in Human Development Index (HDI) scores.

Research Question:  Does GDP growth have a significant correlation with improvements in HDI scores?

Topic:  The effectiveness of Gross National Happiness (GNH) as an alternative development measure.

Research Question:  How does GNH compare to GDP as a measure of development, and what are its implications for policy-making?

Topic:  The impact of technological advancement on economic development indicators.

Research Question:  What is the impact of rapid technological advancement on traditional economic development indicators?

Poverty and Inequality

Topic:  The effectiveness of microfinance in reducing poverty in rural areas.

Research Question:  To what extent has microfinance contributed to poverty reduction in rural communities?

Topic:  Income inequality and educational outcomes in urban environments.

Research Question:  How does income inequality within urban areas affect educational outcomes?

Topic:  The role of gender inequality in economic development.

Research Question:  What is the impact of gender inequality on economic development in developing countries?

Sustainable Development

Topic:  The economic impacts of transitioning to sustainable energy sources.

Research Question:  What are the short-term and long-term economic impacts of transitioning to sustainable energy?

Topic:  The role of sustainable agriculture in promoting food security.

Research Question:  How does sustainable agriculture contribute to food security and economic development?

Topic:  The cost-benefit analysis of environmental conservation measures.

Research Question:  What are the economic benefits and costs associated with environmental conservation measures?

Behavioral Economics Topics and Research Questions

Now, let’s talk about what makes people tick with Behavioral Economics. This is where we realize that humans aren’t always the rational robots some theories make us out to be. 

We’ve got our quirks—bounded rationality, heuristics, and sometimes we follow the herd off a cliff in a market bubble. It’s fascinating because it’s about the psychology behind the economics.

Consumer Behavior

Topic:  The influence of social media on consumer purchasing decisions.

Research Question:  To what extent does social media influence consumer behavior in the fashion industry?

Topic:  The impact of brand loyalty on price elasticity.

Research Question:  How does brand loyalty affect the price elasticity of demand for consumer electronics?

Topic:  Behavioral factors influencing impulsive buying behavior.

Research Question:  What behavioral factors are most significant in influencing impulsive buying behavior in online retail?

Nudge Theory

Topic:  The effectiveness of nudges in promoting healthy eating habits.

Research Question:  How effective are nudging strategies in changing consumer eating habits in school cafeterias?

Topic:  The role of default choices in retirement savings plans.

Research Question:  What is the impact of default options on the participation rates in employer-sponsored retirement savings plans?

Topic:  The use of framing effects in environmental policy compliance.

Research Question:  How do framing effects influence compliance with environmental policies among households?

Market Behavior

Topic:  The impact of investor sentiment on stock market bubbles.

Research Question:  To what extent does investor sentiment contribute to the formation and bursting of stock market bubbles?

Topic:  Herd behavior and its influence on cryptocurrency markets.

Research Question:  How does herd behavior manifest in the trading patterns of cryptocurrency markets?

Topic:  The role of overconfidence in financial market trading.

Research Question:  What is the role of overconfidence bias in the decision-making processes of individual investors in financial markets?

Each of these topics and research questions should be carefully considered and refined to ensure that they are feasible for an extended essay , with a clear focus and available data for analysis.

Labor Economics Topics and Research Questions

Shifting gears to Labor Economics, we’re in the world of work. Wages aren’t just about money; they’re about bargaining power, fairness, and sometimes just sticking to the minimum. 

The labor market’s a tough crowd, with unemployment and the quest for the right job in the right place. 

And human capital reminds us that it’s not just about filling positions but nurturing talent through education and training.

Wage Determination

Topic:  The impact of minimum wage increases on small business employment levels.

Research Question:  What is the effect of minimum wage increases on employment levels in the small business sector?

Topic:  Wage bargaining and gender pay disparity in the technology sector.

Research Question:  How does wage bargaining contribute to the gender pay gap in the technology industry?

Topic:  The influence of trade unions on wage determination in the automotive industry.

Research Question:  What role do trade unions play in shaping wage determination in the automotive industry?

Labor Markets

Topic:  The effects of automation on unemployment rates in manufacturing.

Research Question:  How has the increase in automation impacted unemployment rates in the manufacturing sector?

Topic:  Labor market flexibility and its impact on economic resilience during recessions.

Research Question:  How does labor market flexibility affect a country’s economic resilience to recessions?

Topic:  The role of labor mobility in regional economic development.

Research Question:  What is the impact of labor mobility on economic development in economically depressed regions?

Human Capital

Topic:  The return on investment in higher education for various fields of study.

Research Question:  What is the comparative return on investment in higher education across different fields of study?

Topic:  The impact of vocational training programs on employability in the service sector.

Research Question:  How do vocational training programs affect employability and income levels in the service sector?

Topic:  The correlation between educational attainment and labor productivity.

Research Question:  How does the level of educational attainment correlate with labor productivity in the tech industry?

Breathing in some fresh air, we move to Environmental Economics. 

Environmental Economics Topics and Research Questions

Here’s where we figure out how to play nice with nature. Managing resources, setting up environmental policies like carbon taxes, and doing the math to see if the benefits of saving a forest are worth the cost. 

It’s economics going green.

Resource Management

Topic:  The economic viability of renewable energy sources in rural communities.

Research Question:  What are the economic challenges and benefits of adopting renewable energy sources in rural communities?

Topic:  The impact of water resource management on agricultural productivity.

Research Question:  How does effective water resource management influence agricultural productivity and economic sustainability?

Topic:  The effects of conservation policies on the forestry industry.

Research Question:  What economic impact do conservation policies have on the forestry industry?

Environmental Policies

Topic:  The effectiveness of carbon taxes in reducing greenhouse gas emissions.

Research Question:  How effective have carbon taxes been in achieving their intended reductions in greenhouse gas emissions?

Topic:  The economic impacts of emissions trading schemes on heavy industries.

Research Question:  What are the economic consequences of emissions trading schemes for heavy industries?

Topic:  The role of environmental regulations in shaping the automotive industry.

Research Question:  How have environmental regulations influenced innovation and economic outcomes in the automotive industry?

Cost-Benefit Analysis

Topic:  The cost-benefit analysis of urban green space preservation.

Research Question:  What are the economic costs and benefits of preserving urban green spaces?

Topic:  The economic evaluation of flood defense systems in coastal cities.

Research Question:  From an economic perspective, how do the costs and benefits of flood defense systems in coastal cities compare?

Topic:  The financial implications of biodiversity conservation programs.

Research Question:  What are the economic trade-offs associated with biodiversity conservation programs?

Health Economics Topics and Research Questions

Health Economics brings us to the crossroads of wealth and well-being. Healthcare systems are complex beasts, and we’re trying to tame them so that they can heal without causing financial heartache. 

We’re measuring health outcomes and life quality, all while navigating through the maze of health policies.

Healthcare Systems

Topic:  The economic effects of public versus private healthcare provision on quality of care.

Research Question:  How does the mode of healthcare provision (public vs. private) affect the quality of care and economic efficiency?

Topic:  The impact of insurance coverage on healthcare utilization rates.

Research Question:  How does the level of insurance coverage influence healthcare utilization rates among different socioeconomic groups?

Topic:  The cost-effectiveness of universal healthcare systems.

Research Question:  From a cost-effectiveness standpoint, how do universal healthcare systems compare to multi-payer systems?

Health Outcomes

Topic:  The economic burden of chronic diseases on healthcare systems.

Research Question:  What is the economic impact of the rising prevalence of chronic diseases on healthcare systems?

Topic:  The relationship between socioeconomic status and health outcomes.

Research Question:  How does socioeconomic status affect health outcomes across different regions?

Topic:  The impact of mental health services on workplace productivity.

Research Question:  What is the economic impact of providing mental health services on workplace productivity?

Health Policies

Topic:  The economic implications of pharmaceutical regulation on drug prices.

Research Question:  How do pharmaceutical regulations affect drug prices and the availability of new medications?

Topic:  The cost-benefit analysis of preventive healthcare measures.

Research Question:  What are the long-term economic benefits of investing in preventive healthcare measures?

Topic:  The effects of subsidies on the consumption of health-related goods.

Research Question:  How do subsidies for health-related goods (e.g., gym memberships, healthy foods) affect consumption patterns and health outcomes?

Public Sector Economics Topics and Research Questions

Public Sector Economics is where we see how the government tries to steer the ship. They’re spending on public goods and welfare, trying to keep the economy afloat without springing too many leaks. 

Taxation is a hot topic—progressive, regressive, who’s paying their way, and who’s getting a free ride? And with fiscal federalism, it’s a tug-of-war between local needs and central control.

Government Expenditure

Topic:  The impact of government spending on public goods on economic growth.

Research Question:  How does government expenditure on public goods such as infrastructure contribute to economic growth?

Topic:  The effectiveness of welfare programs in reducing poverty.

Research Question:  What has been the impact of welfare programs on poverty levels in developed countries?

Topic:  The economic consequences of military spending.

Research Question:  How does military expenditure affect the allocation of government resources and economic growth?

Topic:  The economic effects of progressive taxation on income distribution.

Research Question:  Does progressive taxation lead to a more equitable distribution of income?

Topic:  The impact of value-added tax (VAT) on consumer spending.

Research Question:  How does the implementation of VAT affect consumer spending patterns?

Topic:  The role of tax incentives in promoting renewable energy investments.

Research Question:  How effective are tax incentives in encouraging investment in renewable energy projects?

Fiscal Federalism

Topic:  The challenges of fiscal coordination between central and local governments.

Research Question:  What are the main challenges in achieving fiscal coordination between different levels of government?

Topic:  The impact of fiscal decentralization on local economic development.

Research Question:  How does fiscal decentralization affect economic development at the local level?

Topic:  The role of intergovernmental transfers in balancing regional disparities.

Research Question:  How do intergovernmental transfers help to address regional economic disparities?

Industrial Organization Topics and Research Questions

We’re watching firms and their power moves—mergers, acquisitions, and the regulatory hoops they have to jump through. 

It’s about keeping the market fair and innovative, making sure the big fish don’t eat all the little ones and that new ideas get a chance to grow.

Firm Behavior

Topic:  The economic rationale behind mergers and acquisitions in the tech industry.

Research Question:  What economic factors drive mergers and acquisitions in the technology sector?

Topic:  The impact of corporate governance on firm performance.

Research Question:  How does the quality of corporate governance affect firm performance and economic outcomes?

Topic:  The effects of vertical integration on market competition.

Research Question:  Does vertical integration by large firms lead to less competition in the market?

Market Regulation

Topic:  The effectiveness of antitrust laws in promoting fair competition.

Research Question:  How effective are antitrust laws in maintaining competitive markets?

Topic:  The economic impacts of deregulation in the airline industry.

Research Question:  What have been the economic outcomes of deregulation in the airline industry?

Topic:  The role of competition policy in fostering innovation.

Research Question:  How does competition policy influence the rate and direction of innovation in high-tech industries?

Innovation and Technology

Topic:  The relationship between R&D investment and economic performance in pharmaceuticals.

Research Question:  How does R&D investment correlate with economic performance in the pharmaceutical industry?

Topic:  The economic implications of patent laws on innovation.

Research Question:  What is the impact of patent laws on the rate of innovation in renewable energy technologies?

Topic:  The role of government subsidies in technological advancement.

Research Question:  How do government subsidies affect technological advancement in emerging industries?

Financial Economics Topics and Research Questions

Financial Economics is where the money’s at—literally. Stock markets, bond markets, the exotic world of derivatives—it’s all about the flow of money. 

And with financial regulation, we’re trying to keep the party responsible so that the financial hangover doesn’t hit too hard.

Financial Markets

Topic:  The impact of stock market volatility on economic decision-making.

Research Question:  How does stock market volatility influence corporate investment decisions?

Topic:  The role of bond markets in public debt management.

Research Question:  What role do bond markets play in the management of public debt?

Topic:  The effects of quantitative easing on financial markets.

Research Question:  How has quantitative easing affected financial markets post-2008 financial crisis?

Financial Instruments

Topic:  The use of derivatives in risk management by corporations.

Research Question:  How do corporations use derivatives to manage financial risk?

Topic:  The impact of futures trading on commodity price stability.

Research Question:  Does futures trading contribute to the stability of commodity prices?

Topic:  The role of cryptocurrency in the financial portfolio diversification.

Research Question:  How do cryptocurrencies affect the diversification of financial portfolios?

Financial Regulation

Topic:  The effectiveness of banking regulation in preventing financial crises.

Research Question:  How effective have banking regulations been in preventing another financial crisis?

Topic:  The economic effects of capital adequacy requirements on banks.

Research Question:  What are the economic effects of increased capital adequacy requirements for banks?

Topic:  The impact of international financial reporting standards on market transparency.

Research Question:  How do international financial reporting standards improve market transparency and economic outcomes?

Economic Methodology and History Topics and Research Questions

Lastly, we’ve got Economic Methodology and History. It’s a bit like time travel, seeing how past thinkers shape our current policies and how historical events steer us towards new economic shores. 

And methodology? It’s the toolbox that helps us figure out if what we’re doing actually makes sense, with all the number crunching and case studies that help us understand the why behind the what.

Economic Thought

Topic:  The influence of Keynesian economic policies on modern fiscal strategies.

Research Question:  How have Keynesian economic principles shaped contemporary fiscal policy-making?

Topic:  The relevance of classical economics in today’s market economy.

Research Question:  To what extent are the principles of classical economics applicable in the current market economy?

Topic:  The impact of behavioral economics on traditional economic models.

Research Question:  How has behavioral economics challenged the assumptions of traditional economic models?

Economic History

Topic:  The economic consequences of the 1970s oil shocks.

Research Question:  What were the long-term economic consequences of the oil shocks of the 1970s?

Topic:  The role of economic policies in the Great Depression.

Research Question:  How did economic policies contribute to the onset and duration of the Great Depression?

Topic:  The economic impacts of the dissolution of the Soviet Union.

Research Question:  What were the economic impacts of the dissolution of the Soviet Union on Eastern European countries?

Methodological Issues

Topic:  The application of econometrics in evaluating fiscal policy.

Research Question:  How can econometric models be used to evaluate the effectiveness of fiscal policy?

Topic:  The challenges of qualitative analysis in economic research.

Research Question:  What are the main challenges associated with using qualitative analysis in economic research?

Topic:  The comparison of case study and statistical methods in economic analysis.

Research Question:  How do case study methods compare to statistical methods in the analysis of economic phenomena?

So, there you have it—a whirlwind tour through the interconnected world of economics extended essay topics. 

Each piece of the cake tells part of the story, and it’s only when you put them all together that you see the full tasty picture. What’s your take on all this?

If you need some other IB EE topic options, we also have many other articles with various extended essay topic ideas . Do not miss a chance to check some that may interest you.

Conclusion 

I would have continued with other options, but I believe this list of Economics extended essay topic ideas are quite enough for today. Good luck with your RQ selection, research and writing .

If you find a better article that provides more comprehensive and detailed suggestions for Economics extended essay topic ideas, share it with me 😉

If you need topic suggestions with outlines or assistance with writing a custom IB Economics EE, our IB experts at Writing Metier are always ready to assist you.

Simply contact us using our contact form or fill out the order form with details to your economics extended essay and our IB experts will land you a hand.

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Vasyl Kafidoff is a co-founder and CEO at WritingMetier. He is interested in education and how modern technology makes it more accessible. He wants to bring awareness about new learning possibilities as an educational specialist. When Vasy is not working, he’s found behind a drum kit.

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• Economic Essays Grade 12

Grade 12 Economic Essays for the Next Three-Year Cycle (2021-2023)

• Discuss in detail the markets within the FOUR-SECTOR model (Circular Flow)

Discuss in detail 'The new economic paradigm'/Explain the 'smoothing of cycles (Business Cycles)

Discuss in detail the features underpinning forecasting (Business Cycles)

Discuss in detail the main objectives of the public sector in the economy (Public Sector)

Discuss in detail the reason(s) for public sector failure (link them to typical problems experienced through public sector provisioning) (Public Sector)

Discuss in detail the reasons for international trade (Foreign Exchange Markets)

• Discuss in detail export promotion (Protectionism and FreeTrade)

Discuss in detail the arguments in favour of protectionism (Protectionism and Free Trade)

Discuss in detail the demand-side approach in promoting growth and development in South Africa (Growth and development)

Discuss in detail the following South African growth and development policies and strategic initiatives (Growth and development)

Discuss in detail South Africa's initiaties (endeavours) in regional development (Industrial Development Policies)

Discuss in detail the following economic indicators (Economic and Social Performance Indicators

Discuss in detail the following social indicators (Economic and Social Performance Indicators)

Discuss in detail the various equilibrium positions with the aid of graphs-PERFECT MARKET (Perfect Market)

• Discuss the monopoly in detail (with/without the aid of graphs) (Imperfect Market)

Examine the oligopoly in detail (Imperfect Market)

• Compare and contrast any TWO types of market structures  

Discuss in detail how the following factors lead to the misallocation of resources in the market (Market Failures)

Discuss in detail state intervention as a consequence of market failures, with the aid of relevant graphs (Market Failures)

Discuss in detail the consequences of inflation (Inflation)

Discuss in detail the measures to combat demand-pull and/or cost-push inflation (Inflation)

Examine in detail the effects of tourism (Tourism)

Examine in detail the benefits of tourism (Tourism)

Discuss in detail how the government can ensure sustainable development (Environmental Sustainability)

• Discuss in detail the following problems and the international measures taken to ensure sustainable development (Environmental Sustainability)

ESSAYS FOR THE NEXT THREE-YEAR CYCLE (2021-2023)

Macroeconomics- paper1.

Discuss in detail the markets within the FOUR-SECTOR model (Circular Flow) INTRODUCTION The economy of a country is regarded as an open economy because of the presence of households, producers, government, foreign sector and financial sector as active participants in the economy. Markets link the participants in the economy 🗸🗸 [Max 2]

BODY: MAIN PART PRODUCT / GOODS/ OUTPUT MARKET🗸

• These are the markets for consumer goods and services🗸🗸
• Goods are defined as tangible items, like food, clothes, cars, etc. that satisfies some human wants or needs🗸🗸
• Buying and selling of goods that are produced in markets e.g. 🗸🗸
• Capital Goods market for trading of buildings and machinery🗸🗸
• Consumer goods market for trading of durable consumer goods, semi-durable consumer goods and non-durable consumer goods. 🗸🗸
• Services are defined as non-tangible actions and include wholesale and retail, transport and financial markets. 🗸🗸

FACTOR / RESOURCE/ INPUT MARKETS🗸

• Households sell factors of production on the markets: rent for natural resources, wages for labour interest for capital and profit for entrepreneurship🗸🗸
• The factor market includes the labour, property and financial markets. 🗸🗸
• The market where services of factors of production are traded e.g. labour is hired and capital is borrowed – these services earn wages, interest, rent and profits🗸🗸

FINANCIAL MARKETS🗸

• They are not directly involved in the production of good and services, but act as a link between households , the business sector and other participants with surplus finds🗸🗸
• E.g. banks, insurance companies and pension funds🗸

MONEY MARKETS🗸

• In the money markets short term loans, and very short term funds are saved and borrowed by consumers and business enterprises 🗸🗸
• Products sold in the market are bank debentures, treasury bills and government bonds 🗸🗸
• The simplest form exists when parties make demand and short-term deposits and borrow on short term 🗸🗸
• The SARB is the key institution in the money market🗸🗸

CAPITAL MARKETS🗸

• In the capital markets long term funds are borrowed and saved by consumers and the business sector🗸🗸
• The Johannesburg Security Exchange (JSE) is a key institution in the capital 🗸🗸
• Products sold in this market are mortgage bonds and shares🗸🗸

FOREIGN EXCHANGE MARKETS🗸

• On the foreign exchange markets businesses buy/ sell foreign currency to pay for imported goods and services🗸🗸
• These transactions occur in banks and consists of electronic money transfers from one account to another🗸🗸
• The leading centres/ most important foreign exchange markets are in London, New York and Tokyo 🗸🗸
• e.g. traveller’s cheques to travel abroad🗸
• Flows of private and public goods and services are real flows and they are accompanied by counter flows of expenditure and taxes on the product market🗸🗸
• Factor services are real flows and they are accompanied by counter flows of income on the factor market🗸🗸
• Imports and exports are real flows and are accompanied by counter flows of expenditure and revenue on the foreign exchange market🗸🗸[Max 26]
• A change in investment of R 10m will result in a change in income of R 20m🗸🗸
• An increase in investment causes the expenditure function to shift upwards from C1 to C2 so that C1 is parallel to C2🗸🗸
• The effect of the increase in investment is that the total expenditure will increase from R 20m to R 30m🗸🗸
• The increase in the value of output (Y) is greater than the increase in the expenditure (E) 🗸🗸 (Explanation must comply with the figures supplied in the graphical presentation) [Max 4] [Max 10]

CONCLUSION The circular flow ensures continued interdependence and coordination of the economic activities in the economy / markets are critically important institutions in our economic system, because they regulate the supply and demand and safeguard price stability and general business confidence. 🗸🗸 [Any other relevant conclusion] [Max 2]

INTRODUCTION The new economic paradigm in terms of the smoothing of business cycles discourages monetary policy makers from using monetary and fiscal policies to fine tune the economy but rather encourages achieving stability through sound long term decisions relating to demand and supply in the economy/smoothing out the painful part of economic down-fall that is part of the market economy🗸🗸 (Accept other relevant definition/description of smoothing/new economic paradigm). [Max 2]

BODY: MAIN PART The new economic paradigm is embedded in the demand and supply side policies. 🗸🗸

Demand-side policies

• It focuses on aggregate demand in the economy🗸🗸
• When households, firms and the government spend more, demand in the economy increases. 🗸🗸
• This makes the economy grow but lead to inflation.🗸🗸
• Aggregate demand increases more quickly than aggregate supply and this causes price increases. 🗸🗸
• If the supply does not react to the increase in demand, prices will increase. 🗸🗸
• This will lead to inflation (a sustained and considerable in the general price level) 🗸🗸

Unemployment:

• Demand-side policies are effective in stimulating economic growth. 🗸🗸
• Economic growth can lead to an increase in demand for labour. 🗸🗸
• As a result more people will be employed and unemployment will increase. 🗸🗸
• As unemployment decreases inflation is likely to increase. 🗸🗸
• This relationship between unemployment and inflation is illustrated in the Phillips curve. 🗸🗸
• The PC curve shows the initial situation. A is the point of intersection of the PC curve with the x- axis. It shows the natural rate of unemployment, for instance 14%🗸🗸
• At point A inflation rate is zero. 🗸🗸
• If unemployment falls to C for instance, 8%, inflation caused by wage increases is at 6%.🗸🗸
• If unemployment increases from C to B to A, inflation falls from 6% to 2% to 0%.🗸🗸

Supply-side policies Reduction of costs 🗸

• Infrastructural services: reasonable charge and efficient transport, communication, water
• services and energy supply. 🗸🗸
• Administrative costs: these costs include inspection, reports on applications
• of various laws, regulations and by-laws, tax returns and returns providing statistical
• information.
• It adds to costs and businesses carry a heavy burden 🗸🗸
• Cash incentives: it includes subsidies for businesses to locate in neglected areas where unemployment is high and compensation to exporters for certain costs they
• incurred in development of export markets. 🗸🗸

Improving the efficiency of inputs 🗸

• Tax rates: low tax rates can serve as an incentive to workers. It will improve the productivity and output. 🗸🗸
• Capital consumption: replacing capital goods regularly creates opportunities for businesses to keep up with technological development and better outputs🗸🗸
• Human resource development: to improve the quality of manpower by improving health care, education and training. 🗸🗸
• Free advisory service: these promote opportunities to export. 🗸🗸

Improving the efficiency of markets 🗸

• Deregulation: removal of laws, regulations and by-laws and other forms of government controls makes the market free. 🗸🗸
• Competition: encourages the establishment of new businesses 🗸🗸
• Levelling the play field: private businesses cannot compete with public enterprises 🗸🗸 Answers must be in full sentences and well described with examples to be able to obtain 2 marks per fact. Learners should be awarded 1 mark per heading or sub-heading to a maximum of 8 marks. (8 x 1) (8) [Max 26]

Explanation: The above graph shows:

• Aggregate demand (AD) and aggregate supply (AS) are in equilibrium at point C. 🗸🗸
• If aggregate demand is stimulated so that it moves to AD1 and aggregate supply responds promptly and relocates at AS1; a larger real output becomes available without any price increases. 🗸🗸
• Supply is often sticky and fixed in the short term. 🗸🗸
• Therefore, if aggregate demand increases to AD1 and aggregate supply does not respond, intersection is at point F. Real production increases but so does the price, in other words, with more inflation. 🗸🗸
• The aggregate demand locates at any position to the left of AS1 inflation prevails. 🗸🗸
• The solution is to create conditions that ensure supply is more flexible. 🗸🗸
• If the cost of increasing production is completely flexible, a great real output can be supplied at any given price level. 🗸🗸 [Max 10]

CONCLUSION It is clear from the discussion above that it is critically important to manage the aggregate supply and demand to ensure stability in the economy. 🗸🗸 [Accept any relevant higher order conclusion] [Max 2]

INTRODUCTION Accurate prediction is not possible in Economics. The best the economists can do is to try and forecast what might happen. There are a number of techniques available to help economists to forecast business cycles, e.g. economic indicators 🗸🗸 OR Successive periods of contraction and expansion of economic activities 🗸🗸 [Accept any other relevant introduction] [Max 2]

BODY: MAIN PART Business cycle indicators Leading economic indicators 🗸

• These are indicators that change before the economy changes / coincide with the reference turning point 🗸🗸
• They give consumers, business leaders and policy makers a glimpse (advance warnings) of where the economy might be heading. 🗸🗸
• Peak before a peak in aggregate economic activity is reached.
• Most important type of indicator in helping economists to predict what the economy will be like in the future 🗸🗸
• When these indicators rise, the level of economic activities will also rise in a few months' time/an upswing 🗸🗸
• E.g. job advertising space/inventory/sales ratio🗸

Coincident economic indicators🗸

• They move at the same time as the economy / if the turning point of a specific time series variable coincides with the reference turning point🗸🗸
• It indicates the actual state of the economy🗸🗸
• E.g. value of retail sales. 🗸
• If the business cycle reaches a peak and then begins to decline, the value of retail sales will reach a peak and then begin to decline at same time🗸🗸

Lagging economic indicators🗸

•  They do not change direction until after the business cycle has changed its direction🗸🗸
• They serve to confirm the behaviour of co-incident indicators🗸🗸
• E.g. the value of wholesalers' sales of machinery🗸
• If the business cycle reaches a peak and begins to decline, we are able to predict the value of new machinery sold🗸🗸

Composite indicator🗸

• It is a summary of the various indicators of the same type into a single value🗸🗸
• Their values are consolidated into a single value , if this is done we find a value of a composite leading , coincident and lagging indicator🗸🗸 Accept ONE example from the table below:

• This is the time that it takes for a business cycle to move through one complete cycle (measured from peak to peak) 🗸🗸
• It is useful to know the length because the length tends to remain relatively constant over time.🗸🗸
• If a business cycle has the length of 10 years it can be predicted that 10 years will pass between successive peaks or troughs in the economy. 🗸🗸
• Longer cycles show strength. 🗸🗸
• Cycles can overshoot. 🗸🗸

Ways to measure lengths:

• Crisis to crisis 🗸🗸
• Historical records 🗸🗸
• Consensus on businesses experience 🗸🗸

Amplitude 🗸

• It is the difference between the total output between a peak and a trough. 🗸🗸
• It measures the distance of the oscillation of a variable from the trend line / It is the intensity (height) of the upswing and downswing (contraction and expansion) in economic activity 🗸🗸
• A large amplitude during an upswing indicates strong underlying forces – which result in longer cycles 🗸🗸
•  The larger the amplitude the more extreme the changes that may occur / extent of change 🗸🗸
• E.g. During the upswing inflation may increase from 5% to 10%. (100% increase) 🗸🗸
•  A trend is the movement of the economy in a general direction. 🗸🗸
• It usually has a positive slope because the production capacity of the economy increases over time 🗸🗸
• Also known as the long term growth potential of the economy. 🗸🗸
• The diagram above illustrates an economy which is growing – thus an upward trend (positive slope) 🗸🗸
• Trends are useful because they indicate the general direction in which the economy is moving – it indicates the rate of increase or decrease in the level of output🗸🗸

Extrapolation 🗸

• Forecasters use past data e.g. trends and by assuming that this trend will continue, they make predictions about the future🗸🗸
• Means to estimate something unknown from facts or information that are known 🗸🗸
• if it becomes clear that the business cycle has passed through a trough and has entered a boom phase, forecasters might predict that the economy will grow in the months that follow 🗸🗸
• It is also used to make economic predictions in other settings e.g. prediction of future share prices🗸🗸

Moving average 🗸

• It is a statistical analytical tool that is used to analyse the changes that occur in a series of data over a certain period of time / repeatedly calculating a series of different average values along a time series to produce a smooth curve 🗸🗸
• The moving average could be calculated for the past three months in order to smooth out any minor fluctuations 🗸🗸
• It is calculated to iron out (minimize) small fluctuations and reveal long-term trends in the business cycle🗸🗸 Answers must be in full sentences and well described with examples to be able to obtain 2 marks per fact. Learners should be awarded 1 mark per 8 headings and examples. [8 x 1=8] [Max 26]

BODY: ADDITIONAL PART

• An expansionary monetary policy is implemented when the economy is in recession in order to stimulate economic activities. 🗸🗸
• Interest rates can be reduced to encourage spending. 🗸🗸
• Households and firms can borrow more and spend more. 🗸🗸
•  The increased spending increases the level of economic activity. 🗸🗸
• Investment will increase and more factors of production will be employed. 🗸🗸
• Higher levels of production, income and expenditure will be achieved. 🗸🗸
• If the supply of goods and services does not increase in line with an increase in demand, inflation will increase. 🗸🗸
• Inflation can be curbed by reducing money supply and availability of credit. 🗸🗸
• To dampen demand at the peak the government will be able to reduce the money supply by increasing interest rates. 🗸🗸
• Selling government bonds and securities (open market transactions) and reduce the supply of money in circulation. 🗸🗸
• Increase the cash reserve requirements to manipulate money creation activities of banks. 🗸🗸
• Persuade banks to decrease lending (moral suasion) 🗸🗸
• To devaluate the exchange rate (exchange rate policy) 🗸🗸 [Max 10]

CONCLUSION It remain clear that business cycles must be clearly monitored through the indicators available, policy makers must act quickly by using monetary and fiscal instruments in order to prevent instability in the economy. 🗸🗸 [Accept any other relevant conclusion] [Max 2]

INTRODUCTION: The government provides goods and services that are under supplied by the market and therefore plays a major role in regulating economic activity and guiding and shaping the economy. 🗸🗸 [Max 2]

BODY: MAIN PART Objectives:

Economic growth 🗸

• Refer to an increase in the production of goods and services 🗸🗸
• Measured in terms of Real GDP 🗸🗸
• For economic growth to occur, the economic growth rate must be higher than Population growth 🗸🗸
• Growth and development in a country benefit its citizens because it often leads to a higher standard of living 🗸🗸

Full employment 🗸

• It is when all the people who want to work, who are looking for a job must be able to get a job 🗸🗸
• High levels of employment is the most important economic objective of the government 🗸🗸
• The unemployment rate increased over the past few years 🗸🗸
• Informal sector activities must be promoted because it is an area where employment increase 🗸🗸

Exchange rate stability 🗸

• The economy must be manage effectively and effective Fiscal and monetary policy must be used to keep the exchange rate relatively stable 🗸🗸
• Depreciation and Appreciation of the currency create uncertainties for producers and traders and should be limited. These uncertainties must be limited 🗸🗸
• The SARB changed the Exchange rate from a Managed floating to a free floating exchange rate 🗸🗸

Price stability 🗸

• Stable price causes better results in terms of job creation and economic growth 🗸🗸
• The SARB inflation target is 3% - 6% and they are successful in keeping inflation within this target 🗸🗸
• Interest Rates, based on the Repo Rate are the main instruments used in the stabilisation policy 🗸🗸
• The stable budget deficit also has a stabilizing effect on the inflation rate 🗸🗸

Economic equity 🗸

• Redistribution of income and wealth is essential 🗸🗸
• South Africa uses a progressive income tax system – taxation on profits, taxation on wealth, capital gains tax and taxation on spending, are used to finance free services 🗸🗸
• Free social services are basic education; primary health and to finance basic economic services 🗸🗸
• E.g. Cash Grant to the poor, e.g. child grants and cash grants to vulnerable people, e.g. disability grants 🗸
• Progressive taxation means that the higher income earners pay higher/more taxation 🗸🗸 [Max 26]
• Learner responses can be positive or negative.
• Follow the argument and see if the learner can produce enough evidence to support his/her answer.

Economic Growth:

• SA targets 4–5% economic growth. Previously SA had a 5% growth rate 🗸🗸
• In recent years the growth rate decreased steadily (presently below 3%) 🗸🗸

Full Employment:

• Compared to foreign countries unemployment is very high. (Expanded – over 30%) 🗸🗸
• Efforts by SA government to reduce these figures includes the GEAR strategy, focus on small business enterprises, Public Works Programme 🗸🗸

Exchange rate stability:

• SA now operates on a free floating exchange rate system in line with international benchmarks 🗸🗸
• Unfortunately our currency has lost its value, with a general trend of depreciation over the last few years 🗸🗸

Price stability:

• For the past few years South Africa has managed to remain within the 3–6% target 🗸🗸
• The current increase in the repo rate has put constraints on the inflation rate 🗸🗸

Economic equity:

• Economic equity has improved (BEE, affirmative action, gender equity) and led to an improvement in economic equity 🗸🗸 [Any 5 x 2] [Max 10]

CONCLUSION: While some successes have been achieved by government, the fulfilling of some of the objectives are compromised by factors like lack of accountability, corruption, budgeting, nepotism and incompetence. 🗸🗸 [Any relevant conclusion] [Max 2]

INTRODUCTION The government responds to market failures by establishing and maintaining state owned enterprises to provide public goods and services 🗸🗸 [Any other relevant introduction] [Max 2]

BODY: MAIN PART

• It is required to give an explanation of one's decisions, actions and expenditures over a period of time 🗸🗸
• There are mechanisms for evaluating government's economic and financial performance 🗸🗸
• That the desired quantities and quality of goods and services for which taxes are raised are delivered 🗸🗸
• That monopolies, corruption, nepotism, incompetence and apathy does not occur 🗸🗸
• Two important elements of accountability is participation and transparency🗸🗸
• Ministerial responsibilities, i.e. the ministers of government departments are responsible for decisions and actions and expenditures 🗸🗸
• Parliamentary questioning arises and members of the government departments have to respond 🗸🗸
• The national treasury is responsible for treasury control 🗸🗸
• The auditor-general reports annually in writing on each government department🗸🗸
• Public goods are efficiently provided if Pareto efficiency is achieved 🗸🗸
• That is if resources are allocated in such a way that no one can be made better off without making someone else worse off 🗸🗸
• Bureaucracy the official rules and procedures. 🗸🗸/insensitivity to the needs of their clients 🗸🗸
• Incompetence- the lack of skill or ability to do a task successfully🗸🗸/May have improper qualifications/or an attitude of apathy 🗸🗸
• Corruption- the exploitation of a person's position for private gain /taking bribes, committing fraud, nepotism 🗸🗸
• State-owned enterprises do not operate according to the forces of supply and demand 🗸🗸
• It becomes thus very difficult for state-owned enterprises to assess needs and they are thus prone to under- or over-supplying public goods and services 🗸🗸
• The census and other household surveys as well as local government structures provide this type of information 🗸🗸
• Since resources are scarce, government must then decide which needs and whose needs are to be satisfied 🗸🗸
• In the private sector houses are built according to the price that people are able and willing to pay 🗸🗸
• In the public sector housing is regarded as a social responsibility and authorities supply them according to the needs of people 🗸🗸
• In a market economy prices are determined by supply and demand 🗸🗸
• The objectives of firms are to maximise their profits and they usually set prices to achieve this objective 🗸🗸
• Government does not pursue the profit maximisation objective 🗸🗸
• Government takes into account certain social, economic, political and environmental conditions as well as public opinion 🗸🗸
• Free-of-charge services- this is met from taxes 🗸🗸 and applies to most community goods and collective goods 🗸🗸 (e.g.) defence, police whereby charges and toll fees are levied 🗸
• User-charges 🗸 option to charge depends on technical reasons 🗸🗸 (e.g.) cost of providing a double lane road could be recovered by toll charges 🗸 Economic reasons 🗸 such as services like water and electricity 🗸 that have a zero price 🗸 political reasons 🗸 where income distribution is significantly unequal, administrative rationing according to need takes place 🗸🗸 (e.g.) public health and education 🗸
• Direct and indirect subsidies direct subsidies are used to cover part of the costs 🗸🗸 (e.g.) urban bus service 🗸 and an indirect subsidy is used to write off accumulated losses or deficits 🗸🗸
• Standing charges -called availability charges 🗸🗸 (e.g.) water and electricity 🗸 standing charges goes to meet fixed costs and the price per unit consumed covers variable costs 🗸🗸
• Price discrimination - different users have different elastic ties of demand for a good 🗸🗸 (e.g.) commercial and manufacturing businesses pay higher rates than households and they pay on a sliding scale🗸🗸
• State-owned enterprises that either render a service or when an existing enterprise is nationalised 🗸🗸
• They focus on making a profit and maximizing cost at the expense of the needs of some groups 🗸🗸 (e.g.) Iscor 🗸 SABC, 🗸SAA, Spoornet 🗸
• refers to the process whereby state-owned enterprises and state-owned assets are handed over or sold to private individuals 🗸🗸
• cost of maintaining and managing state-owned enterprises are high which can lead to higher taxes and larger public debt 🗸🗸
• State-owned enterprises are not run as efficiently as private enterprises 🗸🗸
• Nationalisation is the process whereby the state takes control and ownership of privately owned assets and private enterprises 🗸🗸
• It includes contracting of services, public-private partnerships, increasing competitiveness🗸🗸 [Max 26]

ADDITIONAL PART Possible problems in your community or elsewhere

• Lack of drinking water due to burst pipes 🗸🗸
• Lack of electricity due to lack of infrastructure (load shedding) 🗸🗸
• Lack of schooling – no buildings available – lack of maintenance 🗸🗸
• Lack of health services due to lack of staff, infrastructure, strikes 🗸🗸
• Lack of adequate housing (RDP) 🗸🗸 [Max 10 marks - List of examples max 5 marks] [Accept any other relevant answer] 

CONCLUSION If the above problems are not dealt with timeously by government, government will continue to fail its people in terms of service delivery, seeing many protests occurring regularly 🗸🗸 [Any other relevant higher order conclusion] [Max 2]

INTRODUCTION International trade can be defined as the exchange of goods and services between countries globally. 🗸🗸 These trade agreements are negotiated by protocols and agreement due to the uneven distribution of natural resources globally. 🗸🗸

BODY-MAIN PART The main reasons for international trade.

Demand reasons The size of the population impacts demand.

• If there is an increase in population growth, it causes an increase in demand, as more people’s needs must be satisfied. 🗸🗸
• Local suppliers may not be able to satisfy this demand. 🗸🗸

The population’s income levels effect demand.

• Changes in income cause a change in the demand for goods and services. 🗸🗸 • An increase in the per capita income of people in more disposable income that can be spent on local goods and services, some of which may then have to be imported. 🗸🗸

An increase in the wealth of the population leads to greater demand for goods.

• People have access to loans and can spend more on luxury goods, many of which are produced in other countries. 🗸🗸

Preferences and tastes can play a part in the determining of prices,

•  E.g. customers in Australia have a preference for a specific product which they do not produce and need to import and it will have a higher value than in other countries. 🗸🗸

The difference in consumption patterns is determined

• By the level of economic development in the country, e.g. a poorly developed country will have a high demand for basic goods and services but a lower demand for luxury goods. 🗸🗸

Supply reasons Natural resources are not evenly distributed

• Across all countries of the world. 🗸🗸
• They vary from country to country and can only be exploited in places where these resources exist. 🗸🗸

Climatic conditions

• Make it possible for some countries to produce certain goods at a lower price than other countries, e.g. Brazil is the biggest producer of coffee. 🗸🗸

Labour resources

• Differ in quantity, quality and cost between countries. 🗸🗸
• Some countries have highly skilled, well-paid workers with high productivity levels, e.g. Switzerland. 🗸🗸

Technological resources

•  Are available in some countries that enable them to produce certain goods and services at a low unit cost, e.g. Japan. 🗸🗸

Specialisation in the production

• Certain goods and services allows some countries to produce them at a lower cost than others, e.g. Japan produces electronic goods and sells these at a lower price. 🗸🗸

Capital allows developed countries

• Enjoy an advantage over underdeveloped countries. 🗸🗸
• Due to a lack of capital, some countries cannot produce all the goods they require themselves. 🗸🗸

ADDITIONAL PART

• Buying and selling goods and services from other countries: 🗸🗸
• The purchase of goods and services from abroad that leads to an outflow of currency from SA- Imports (M). 🗸🗸
• The of goods and services to buyers from other countries leading to an inflow of currency to SA – Exports (X) 🗸🗸
• Different factor endowments mean some countries can produce goods and services more efficiently than others- specialisation is therefore possible: 🗸🗸

Absolute Advantage:

• Where one country can produce goods with fewer resources than other. 🗸🗸

Comparative Advantage:

• Where one country can produce goods at a lower opportunity cost it sacrifices less resources in production. 🗸🗸

CONCLUSION International trade is important of countries to survive economically, as barriers to trade would disadvantage all countries, due to their interdependency globally. 🗸🗸 [Any other relevant higher order conclusion] [Max 2]

ECONOMIC PURSUITS-PAPER 1

Discuss in detail export promotion (Protectionism and Free Trade)

INTRODUCTION Export promotion refers to measures taken by governments increase production of goods and services that can be exported. The government provides incentives to encourage production 🗸🗸 [Max 2]

BODY: MAIN PART REASONS:

• Export promotion measures lower cost of production which makes it easier to compete on the international market 🗸🗸
• Achieve significant export-led economic growth🗸🗸
• Export enlarges production capacity of country because more and larger manufacturing industries are established. 🗸🗸
• The first step to export-led economic growth is to implement policies that encourage the establishment of industries to produce goods and services for export markets🗸🗸

METHODS: Exports are promoted through: Incentives🗸

• Export incentives include information on export markets, research with regard to new markets, concessions on transport charges, export credit and export credit guarantees and publicity commending successful exporters🗸🗸
• This will encourage manufacturers to export an increased volume of their production🗸🗸
• Trade missions help to market SA products abroad🗸🗸and supply SA companies with information about potential markets 🗸🗸

Direct Subsidies🗸

• Described as direct because it involves government expenditure. 🗸🗸
• Include cash payments to exporters, refunds on import tariffs and employment subsidies.
• The aim is to increase the competitiveness of exporting company🗸🗸 reduce cost of production🗸🗸and explore and establish overseas markets🗸🗸

Indirect subsidies

• Regarded as indirect because it results in the government receiving less revenue🗸🗸 e.g. general tax rebates,
• Tax concessions on profits earned from exports or on capital invested to produce export goods, refunding
•  Of certain taxes e.g. custom duties on imported goods used in the manufacturing process🗸🗸
• Allows companies to lower their prices and enables them to compete in international markets🗸🗸
• Challenge for governments to design incentives and subsidies in such a way that prices of export goods can't be viewed as dumping prices🗸🗸

Trade neutrality 🗸

• Can be achieved if incentives in favour of export production are introduced
• Up to point that neutralises the impact of protectionist measures in place🗸🗸
• E.g. subsidies equal to magnitude of import duties can be paid🗸

Export processing zones (EPZs) 🗸

• Is free-trade enclave within a protected area –
• Is fenced and controlled industrial park that falls outside
• Domestic customs area, and usually located near harbour or airport 🗸🗸 NOTE : For the response with regard to the effectiveness of export promotion methods, a maximum of 5 marks can be allocated.
• No limitations on size and scale since world market is very large🗸🗸
• Cost and efficiency of production based on this and organised along lines of comparative advantage🗸🗸
• Increased domestic production will expand exports to permit more imports and may result in backward linkage effects that stimulate domestic production in related industries🗸🗸
• Exchange rates are realistic and there is no need for exchange control and quantitative restrictions🗸🗸
• Value can be added to natural resources of the country 🗸🗸
• Creates employment opportunities 🗸🗸
• Increase in exports has positive effect on balance of payments 🗸🗸
• Increase in production leads to lower domestic prices, which benefit local consumers🗸🗸

DISADVANTAGES

• Real cost of production 🗸 subsidies and incentives reduce total cost of production which must be met from sales🗸🗸 real cost is thus concealed by subsidies🗸🗸products cannot compete in open market 🗸🗸
• Lack of competition 🗸 businesses charge prices that are so low that they force competitors out of the market 🗸🗸
• Increased tariffs and quotas 🗸can be against spirit of provisions of WTO🗸🗸overseas competitors retaliate with tariffs and quotas🗸🗸 goods are sold domestically below their real cost of production (export subsidies and dumping) 🗸🗸
• Protection of labour-intensive industries 🗸 developed countries maintain high levels of effective protection for their industries that produce labour-intensive goods in which developing countries already have or can achieve comparative advantage 🗸🗸
• Withdrawal of incentives often leads to closure of effected companies. 🗸🗸
• Incentives often lead to inefficiencies in the production process, since companies don't have to do their best to compete🗸🗸
• Can be seen as dumping 🗸🗸 [Max 26]

BODY: ADDITIONAL PART How successful is South Africa in protecting the local textile industry against foreign competition?

• Not successful: 🗸 Many domestic textile manufacturers closed down due to unfair international competition 🗸🗸 Many wholesalers make use of suppliers from abroad 🗸🗸 e.g. Woolworths/Walmart🗸
• Dumping still occurs – European manufacturers still dump clothing in Africa out of season at prices below cost 🗸🗸 Job losses due to a lack of protection in this industry 🗸🗸 [Accept any motivation relating to success indicators] [Max 10]

CONCLUSION South Africa's international trade policy facilitates globalisation thereby impacting positively on the balance of payment. 🗸🗸 [Accept any other relevant conclusion] [Max 2]

INTRODUCTION Protectionism refers to a deliberate policy on the part of the government to erect trade barriers, such as tariffs and quotas, in order to protect domestic industries against international competition. 🗸🗸 [Accept any other relevant definition] [Max 2]

BODY-MAIN PART Raising revenue for the government

• Import tariffs raise revenue for the government. 🗸🗸
• In smaller countries the tax base is often small due to low incomes of individuals and businesses. 🗸🗸
• Low incomes do not provide much in the form of income taxes and therefore custom duties on imports is a significant source of income or revenue. 🗸🗸

Protecting the whole industrial base

• Maintaining domestic employment. 🗸🗸
• Countries with high unemployment are continuously pressured to stimulate employment creation and therefore resort to protectionism in order to stimulate industrialisation. 🗸🗸
• It is thought that using protectionism the country’s citizens would purchase more domestic products and raise domestic employment. 🗸🗸
• These measures on domestic employment creation at the expense of other countries, led to such measures as “beggar-my-neighbour” policies. 🗸🗸
• Applying import policies is likely to reduce other countries ability to buy country’s exports and may provoke retaliation. 🗸🗸

Protecting workers

• It is argued that imports from other countries with relatively low wages represent unfair competition and threaten the standard of living of the more highly paid workers of the local industries. 🗸🗸
• Local industries would therefore be unable to compete because of higher wages pushing up the price levels of goods. 🗸🗸
• Protection is thus necessary to prevent local wage levels from falling or even to prevent local businesses from closing down due to becoming unprofitable. 🗸🗸
• Competition from low-wage countries may also reflect the fact that those countries have a comparative advantage in low-skilled labour-intensive industries. 🗸🗸

Diversifying the industrial base

• Overtime countries need to develop diversified industries to prevent overspecialisation. 🗸🗸
• A country relying too heavily on the export of one or a few products is very vulnerable. 🗸🗸
• If a developing country’s employment and income is dependent on only one or two industries, there is the risk that world fluctuations in prices and demand and supply-side problems could results in significant fluctuations in domestic economic activity. 🗸🗸
• Import restrictions may be imposed on a range of products in order to ensure that a number of domestic industries develop. 🗸🗸

Develop strategic industries

• Some industries such as the iron-ore and steel, agriculture, (basic foodstuffs, such as maize), energy (fuels) and electronics (communication) among others, are regarded as strategic industries. 🗸🗸
• Developing countries may feel that they need to develop these industries in order to become self-sufficient . 🗸🗸

Protecting specific industries Dumping

• Foreign industries may engage in dumping because government subsidies permit them to sell at very low prices or because they are seeking to raise profits through price discrimination. 🗸🗸
• The reason for selling products at lower prices may be to dispose of accumulate stocks Of the goods and as a result consumers in the importing country stand to benefit however,
• Their long term objective may be to drive out domestic producers and gain control of the market and consumers
• Are likely to lose out in the reduction in choice and higher prices that the exporters will be able to charge. 🗸🗸

Infant industries

• Usually newly established and find it difficult to survive due to their average costs being higher than that of their well-established foreign competitors. 🗸🗸
• However, if they are given protection in their early years they may be able to grow and Thereby take advantage lower their average costs and become competitive and at this point protection can be removed. 🗸🗸

Declining industries/sunset industries

• Structural changes in the demand and supply of a good may severely hit an industry such industries should be permitted to go out of business gradually declining industries
• Are likely to be industries that no longer have a comparative advantage and however, if they go out of business quickly there may be a sudden and large increase in unemployment. 🗸🗸
• Protection may enable an industry to decline gradually thereby allowing time for resources including labour to move to other industries. 🗸🗸
• Protecting domestic standards domestic regulations of food safety human rights and environmental standards have been increasingly acting as trade restrictions. 🗸🗸 [Accept any other relevant fact] [Max 26]

ADDITIONAL PART South Africa promotes exports through subsidies

Direct Subsidies

• Strict screening measures should be put in place when companies apply for financial assistance. Government expenditure can provide direct financial support to domestic producers for their exports e.g. 🗸🗸
• Cash grants offered to South African exhibitors to exhibit their products at exhibitions overseas. To explore new markets. 🗸🗸
• Foreign trade missions to explore new markets imposition of tariffs on imports. 🗸🗸
• Funds for the formation of formal export councils. 🗸🗸
• Subsidies for training or employing personnel. 🗸🗸
• Funds for the export market research. 🗸🗸
• Product registration and foreign patent registrations. 🗸🗸
• Government can refund companies certain taxes to promote exports.
• These types of indirect subsidies are:
• General tax rebates (Part of the cost of production can be subtracted from the tax that has been paid) 🗸🗸
• Tax concessions on profits earned from exports or on capital invested to produce export goods. 🗸🗸
• Refunds on import tariffs in the manufacturing process of exported goods companies often use custom duties are paid on these goods and the government refunds them. 🗸🗸 [Max 10]

CONCLUSION Most countries agree that protectionism is harmful to the economy if not well managed. Protectionism is needed especially where industries are young and need expansion or development. 🗸🗸 [Any other relevant higher order conclusion] [Max 2]

INTRODUCTION Economic growth is responsible for the overall growth of the economy, in order to enhance the well being of the economy as a whole. Whereas economic development would focus on the individual well being of the citizens of a country. [Any other relevant higher order conclusion] [Max 2]

BODY-MAIN PART Growth and Development A demand-side approach includes discretionary changes in monetary and fiscal policies with the aim of changing the level of aggregate demand. 🗸🗸

Monetary policy

• Is driven by the South African Reserve Bank (SARB). 🗸🗸
• It aims to stabilise prices by managing inflation. 🗸🗸

Fiscal policy

• Is driven by the Department of Finance. 🗸🗸
• It aims to facilitate government, political and economic objectives. 🗸🗸
• A demand-side approach to economic growth and development does not only depend on fiscal and monetary policy. 🗸🗸
• It is dependent on all components of aggregate demand, that is, C, I, X and G. 🗸🗸

South African approach

• The South African approach uses both monetary and fiscal measures to influence aggregate demand in the economy. 🗸🗸
• The South African Reserve Bank (SARB) as the central bank in South Africa formulates the monetary policy. 🗸🗸
• They use the following instruments:

Interest rate changes

• It is used to influence credit creation by making credit more expensive or cheaper. 🗸🗸
• The exchange rate is stabilised by encouraging inflow or outflows. 🗸🗸

Open market transactions

• To restrict credit the SARB sells securities. When banks buy these securities money flows from banks to the SARB. 🗸🗸
• The banks have less money to lend and cannot extend as much credit as before. 🗸🗸
• To encourage credit creation the SARB buys securities. Money flows into the banking system.🗸🗸

Moral suasion

• The SARB consults with banks to act in a responsible manner based on the prevailing economic conditions. 🗸🗸

Cash Reserve Requirements

• Banks are required to hold a certain minimum cash reserve in the central bank. 🗸🗸
• Banks have a limited amount to give out as credit. 🗸🗸
• South Africa’s fiscal policy is put into practice through the budgetary process. 🗸🗸
• The main purpose of fiscal policy is to stimulate macroeconomic growth and employment, and ensure redistribution of wealth. 🗸🗸
• The following instruments are used:

Progressive personal income tax

• Higher income earners are taxed at higher tax rates. 🗸🗸
• These taxes are used to finance social development. 🗸🗸
• The poor benefit more than those with higher incomes. 🗸🗸

Wealth taxes

• Properties are levied (taxed) according to their market values. 🗸🗸
• Transfer duties are paid when properties are bought. 🗸🗸
• Securities (shares and bonds) are taxed when traded. 🗸🗸
• Capital gains tax is levied on gains on the sale of capital goods (e.g. properties, shares). 🗸🗸
• Estate duties are paid on the estates of the deceased. 🗸🗸
• These taxes are used to finance development expenditures which benefit the poor more  often. 🗸🗸

Cash benefits

• Old age pensions, disability grants, child support and unemployment insurance are cash grants. These are also known as social security payments. 🗸🗸
• Benefits in kind (natura benefits) 🗸🗸
• These include the provision of healthcare, education, school meals, protection etc. 🗸🗸
• When user fees are charged, poor or low income earners pay less or nothing. 🗸🗸
• Limited quantities of free electricity and water are provided. 🗸🗸

Other redistribution

• Public works programmes, e.g. the Strategic Integrated Projects (SIP) provides employment subsidies and other cash and financial benefits such as training, financing and export incentives.🗸🗸

Land restitution and land redistribution

• Land restitution is the return of land to those that have lost it due to discriminatory laws in the  past. 🗸🗸
• Land redistribution focuses on land for residential (town) and production (farm) for previously disadvantaged groups. 🗸🗸
• The money for these programmes is provided in the main budget. 🗸🗸

Subsidies on properties

• It helps people to acquire ownership of fixed residential properties. 🗸🗸
• E.g. government’s housing subsidy scheme provides funding to all people earning less than  R3 500 per month🗸🗸

CONCLUSION The demand-side approach focuses on the expansion of the demand for goods and services produced in the economy. 🗸🗸 OR To ensure economic growth, there should be an adequate and growing demand for goods and services produced in the economy. 🗸🗸

[Any other relevant higher order conclusion] [Max 2]

INTRODUCTION Different growth and development strategies have been implemented in South Africa since 1994, each aimed at addressing particular needs at the time of introduction. 🗸🗸 [Any other relevant introduction] [Max 2]

BODY-MAIN PART The Reconstruction and Development Programme (RDP)

• The RDP was an integrated, coherent socio-economic policy framework that was implemented directly after our first democratic elections in 1994. 🗸🗸
• It seeked to mobilise all our people and our country’s resources toward the final eradication of apartheid and the building of a democratic, non-racial and non-sexist future. 🗸🗸

The RDP was based on six principles.

• an integrated and sustainable programme. 🗸🗸
• a people-driven process focusing on the needs of the population. 🗸🗸
• peace and security for all, aimed at a non-violent society that respects all human rights. 🗸🗸
• nation-building, focusing on the needs of all members of society. 🗸🗸
• linking reconstruction and development. 🗸🗸
• The RDP consisted of many proposals, strategies and policy programmes.
• All of these could, however be grouped into five major policy programmes that were linked to each other.

The five key programmes were:

• meeting basic needs. 🗸🗸
• developing our human resources. 🗸🗸
• building the economy. 🗸🗸
• democratising the state and society. 🗸🗸
• implementing the RDP. 🗸🗸

The Growth, Employment and Redistribution Programme (GEAR)

• The GEAR built upon the strategic vision set out in the RDP, i.e. 🗸🗸
• The importance of all the objectives of the RDP was reaffirmed but it recognized the implementation and macroeconomic problems that the government had been experiencing in implementing the RDP. 🗸🗸
• The RDP placed much more emphasis on disciplined economic policy. 🗸🗸
• While still recognizing that there were very serious needs that had to be addressed. 🗸🗸

The Accelerated and Shared Growth Initiative for South Africa Programme (AsgiSA).

• AsgiSA resulted from government’s commitment to halve unemployment and poverty by 2014. 🗸🗸
• The Joint Initiative on Priority Skills Acquisition (Jipsa) was established to address the scarce and critical skills needed to meet AsgiSA’s objectives. 🗸🗸

AsgiSA identified six important factors that prevented growth:

• the relative volatility of the currency. 🗸🗸
• the cost, efficiency and capacity of the national logistics system. 🗸🗸
• shortages of suitably skilled labour, and the spatial distortions of apartheid affecting low-skilled labour costs. 🗸🗸
• barriers to entry, limits to competition and limited new investment opportunities. 🗸🗸
• the regulatory environment and the burden on small and medium enterprises (SME’s). 🗸🗸
• AsgiSA was not intended to be a government programme. 🗸🗸
• But rather a national initiative supported by all the key groups in the economy. 🗸🗸
• Namely business, labour, entrepreneurs and government and semi-government departments and institutions. 🗸🗸

Joint Initiative on Priority Skills Acquisitions (JIPSA)

• It is the skills development arm of ASGISA. Focus is on skills development, especially through the SETAS. 🗸🗸

Expanded Public Works Programme (EPWP)

• It is a nationwide government intervention to create employment using labour-intensive methods, and to give people skills they can use to find jobs when their work in the EPWP is done. 🗸🗸

The New Growth Path (NGP)

• The New Growth Path (NGP) was released in November 2011. 🗸🗸
• This plan is designed to serve as a framework for economic policy, and to be the driver of the country’s job strategy. 🗸🗸

The New Growth Path therefore proposes certain strategies to ensure adequate demand:

• Deepening the domestic and regional market by growing employment. 🗸🗸
• Increasing incomes and undertaking other measures to equity and income distribution. 🗸🗸
• Widening the market for South African goods and services through a stronger focus on exports to the region and other rapidly growing economies. 🗸🗸
• On a macroeconomic level the NGP entails accommodating or looser monetary policy combined with stricter fiscal policy to limit inflationary pressures and enhance competitiveness. 🗸🗸
• Government spending will be prioritised with the objective of long-term sustainable employment opportunities. 🗸🗸

The microeconomic measures to control inflationary pressures include the following:

• A competition policy to supervise monopoly pricing on products and services. 🗸🗸
• A review of administered prices to ensure that they do not increase above inflation without compelling reasons. 🗸🗸
• Interventions in the case of rapidly rising prices of essential products and services such as private🗸🗸
• Healthcare and basic food items. 🗸🗸
• Active industrial policy. 🗸🗸
• Rural development policy. 🗸🗸
• Competition policy. 🗸🗸
• Stepping up education and skills development. 🗸🗸
• Enterprise development: promoting small business and entrepreneurship; eliminating unnecessary red tape. 🗸🗸
• Broad-based Black Economic Empowerment (BBBEE). 🗸🗸
• Labour practices. 🗸🗸
• Technology policy. 🗸🗸
• Developmental trade policies. 🗸🗸
• Policies for African development. 🗸🗸 
• The different growth and development strategies that have been implemented in South Africa since 1994. 🗸🗸
• Have all contributed to making our country more prosperous and to address problems created by inequalities of the past. 🗸🗸
• However, problems such as a low level of education, unemployment and unequal distribution of income persist. 🗸🗸
• The current NGP is a comprehensive policy that is focused on addressing all of these problems. [Any other relevant higher order conclusion] [Max 2]

INTRODUCTION South Africa’s overall objective of Industrial Development Policy is to ensure international competitiveness in its nine provinces. OR Regional development is aimed at increasing the economic livelihood of specific areas or regions. OR Regional development attempts to limit the negative effects of economic activities in only a few areas. OR It attempts to promote the advantages of a more even regional development by using labour and other natural resources and infrastructure in neglected areas. [Accept any relevant introduction] [Max 2]

BODY-MAIN PART SPATIAL DEVELOPMENT INITIATIVES

• SDI Programme attracts infrastructure and business investments to underdeveloped areas to create employment. 🗸🗸
• Department of Trade and Industry is driving force behind industrial and spatial development. 🗸🗸
• DTI plans together with central, provincial and local government, IDC, parastatals and research institutions. 🗸🗸
• Industrial Development Policy Programme (Spatial Development) has 2 focus points spatial development initiative (SDI) and financial incentives. 🗸🗸
• SDI refers to government’s initiative and economic development potential of certain specific spatial locations in SA. 🗸🗸

Key Objectives:

• Stimulate economic activity in selected strategic locations. 🗸🗸
• Generate economic growth and foster sustainable industrial development. 🗸🗸
• Develop projects of infrastructure in certain areas and finance them through lending and private sector investment. 🗸🗸
• Establish private-public partnerships (PPP’s). 🗸🗸

In areas with high poverty and unemployment, SDI focuses on:

• High level support in areas where socio-economic conditions require concentrated government assistance. 🗸🗸
• Where inherent economic potential exists. 🗸🗸
• The approach is towards international competitiveness, regional cooperation and a more diversified ownership base. 🗸🗸

Some of the main focus points of the SDI Programme are:

• Lubombo Corridor (agro-tourism, education, craft, commercial and agricultural sectors); 🗸🗸
• KwaZulu-Natal (Ports of Durban and Richards Bay); 🗸🗸
• West Coast SDI (fishing and industrial ports); 🗸🗸
• Coast-2-Coast Corridor with agro-tourism. 🗸🗸
• It also makes it possible for private sector businesses to take advantage of the economic potential of underdeveloped areas in private-public partnerships (PPP’s) 🗸🗸
• In PPP a private business may provide the capital to build the factory and to buy raw materials and employ labour, while the government provides the capital for the infrastructure such as roads and water and electricity. 🗸🗸
• The business benefits from profits and the government benefits from taxes, levies and employment opportunities. 🗸🗸

There are TWO types of PPP’s which are compensated differently: Unitary payments:

• Private sector builds and runs a project (it performs the function on behalf of the public sector); the payment provides an acceptable return on the total investment (building cost, maintenance, operational expenses). 🗸🗸
• Private sector constructs the project and then is given the right to change a toll fee (e.g. public road); 🗸🗸
• The toll covers costs of construction, maintenance, operation. 🗸🗸
• The above options can be combined: E.g. hospital (cost of building is an annual payment and a user fee is also charged). 🗸🗸
• A track of land that forms a passageway allowing access from one area to another and particular advantages to mining, manufacturing and other businesses. 🗸🗸
• Domestic Corridor: e.g. Lubombo, West Coast, Fish River. 🗸🗸
• Corridors beyond the South African Borders (SADC) e.g. Maputo Development Corridor Mozambique. 🗸🗸
• Reasons in support of South Africa’s regional integration in Southern Africa: have political and stable neighbours have important export markets and a future source of water and energy supplies integration may be a precondition for support from foreign investors, donors and multilateral institutions. 🗸🗸
• A robust regional transport system and a solid infrastructure base hold the key to attracting investment into the SADC region – improving competitiveness and promoting trade. 🗸🗸

Advantages from Corridor development:

• Greater levels of economic efficiency and productivity compact urban form corridor urban form. 🗸🗸
• Corridor developments will often occur due to private investment. 🗸🗸
• Intergration of land use and transport planning will lead to generally efficient integration. 🗸🗸
• Efficient urbanisation leads to efficient use of land and promotion of an efficient transport system. 🗸🗸

INDUSTRIAL DEVELOPMENT ZONES (IDZ’s)

• Geographically designed, purpose-built industrial sites providing services tailored for export- orientated industries. 🗸🗸
• Physically enclosed and linked to an international port or airport. 🗸🗸
• Specifically designed to attract new investment in export-driven industries. 🗸🗸
• Falls outside domestic customs zones and able to import items free of customs and trade restrictions, add value and then export their goods. 🗸🗸
• Development and management done by private sector. 🗸🗸
• Government IDZ policy designed to boost exports and jobs. 🗸🗸
• IDZ’s aim to encourage economic growth –attract foreign investment in industrial development – facilitate international competitiveness regarding manufacturing. 🗸🗸 [Max 26]

ADDITIONAL PART FINANCIAL INCENTIVES Small and Medium Enterprise Development Programme (SMEDP) • This incentive has provided a tax-free cash grant for investment in industries in

• South Africa. 🗸🗸
• E.g. manufacturing, agricultural, processing, aquaculture and tourism. 🗸🗸

Critical Infrastructure Fund Programme (CIF)

• A tax-free cash grant incentive for projects has improved critical infrastructure in  South Africa. 🗸🗸
• E.g. for installation, construction of infrastructure, payment of employees, materials directly consumed during installation. 🗸🗸

Duty Free Incentives (for businesses operating in the IDZ’s)

• This has encouraged export-orientated manufacturing to increase their competitiveness 🗸🗸
• And helped to promote foreign and local direct investment. 🗸🗸

Foreign Investment Grant (FIG)

• This has assisted foreign investors to invest in new manufacturing businesses in SA. 🗸🗸
• Benefited in terms of the cost of relocating new machinery and equipment from abroad. 🗸🗸

Strategic Investment Projects (SIP)

• This has attracted investment from local and foreign entrepreneurs in manufacturing, computer, research and engineering sectors. 🗸🗸

Skills Support Programme (SIP)

• This cash grant for skills development has encouraged greater investment 🗸🗸
• In training in general and stimulated the development of new advanced skills. 🗸🗸

Black Businesses Supplier Development Programme (BBSDP)

• This 80 % cash grant has provided black-owned enterprises with access to 🗸🗸
• Training which has improved management of their enterprises. 🗸🗸

Special Economic Zones (SEZ)

• It is an extention to the current financial incetives to further promoted regional development. 🗸🗸
• The major incentive is a tax reduction of 15 % for businesses settling in this area. 🗸🗸
• This does not mean that existing businesses in the IDZ can relocate to take advantage of this incentive. 🗸🗸
• If a current business in the IDZ wants to expand they are allowed. 🗸🗸 [Max 10]

CONCLUSION From the above discussion it is clear that different initiatives form part of South Africa’s Regional Industrial Development Programme. [Max 2]

INTRODUCTION Economic indicators are used to evaluate the economic performance of an economic unit. This unit can be a company, an industry, a country or a region. Macro-economic indicators, measures the economic performance of a country as a whole. 🗸🗸

BODY-MAIN PART Such indicators can provide an indication of:

• Changes taking place in a country. 🗸🗸
• How a country compares to other countries. 🗸🗸

Inflation Rate

• This is the general increase in the price level of goods and services in the economy over a certain period in time. E.g. one year. 🗸🗸
• This is therefore an indicator of the health of the economy and it is monitored in two ways that is at the production wholesale level producer price level (PPI) and at the retail or consumer level consumer price index (CPI) 🗸🗸

The Consumer Price Index (CPI)

• Shows the price increases of a representative (weighted) basket of goods and services that consumers buy. 🗸🗸
• It is abbreviated as CPI this cover all the urban areas. 🗸🗸
• It is an overall index and weights are obtained from expenditures of different income categories of households. 🗸🗸
• It is the most comprehensive indicator measuring consumer inflation in the country. 🗸🗸
• It shows changes in the general purchasing power of the rand and it is used for inflation targeting 🗸🗸
• Is compiled by Stats SA and measures the change in the price level of a basket of consumer goods and services. 🗸🗸
• The goods and services included in the basket are chosen to represent the goods and services purchased by an average household. 🗸🗸
• This basket is adjusted from time to time as consumption patterns change. 🗸🗸
• The inflation rate is the percentage change in the CPI from the previous year and can be calculated as follows:
• Change in CPI x 100 🗸🗸        CPI

The Production Price Index (PPI)

• Used to measure the price of goods that are produced domestically when they leave the factory year. 🗸🗸
• The goods that are imported when they enter the country (at a port) and both of these are before consumers become involved. 🗸🗸
• PPI consists of three baskets that are domestically manufactured outputs, e.g. changes in the PPI can be made monthly or quarterly or yearly. 🗸🗸
• While changes in the imported products and exported commodities are given separately in the same report. 🗸🗸
• PPI includes capital and intermediate goods but not services. 🗸🗸
• It is based on a completely different type of a basket of items in the CPI. 🗸🗸
• It measures the cost of production rather than the cost of living. 🗸🗸
• It is used to predict consumer goods inflation (CPI) 🗸🗸
• Which is also estimated and published on a monthly basis by Stats SA, is similar to the CPI, 🗸🗸
• Except that it also includes the prices of raw materials and intermediary goods 🗸🗸 (i.e. goods that will be finished in the production process), excludes VAT and excludes  services. 🗸🗸
• Manufactured goods included in the PPI are priced when they leave the factory, not when they are sold to consumers. 🗸🗸
• Unlike the CPI, the PPI therefore cannot be related directly to consumers’ living standards. 🗸🗸
• The PPI is nevertheless very useful in the analysis of inflation because it measures the cost of production. 🗸🗸
• A significant change in the rate of increase in the PPI is usually an indication that the rate of increase in the CPI will also change a few months later. 🗸🗸

The GDP Deflator Is a ratio that indicates the relationship of the GDP at nominal prices to the GDP at real prices. GDP deflator = Normal GDP x 100 🗸🗸                            Real GDP 

Nominal GDP

• Is the value of total gross domestic product measured at current prices. 🗸🗸
• While the real GDP is the value of total gross domestic product measured at constant prices.🗸🗸
• So, the GDP deflator includes changes in the prices of exports but not of imports. 🗸🗸
• In a small open economy, like that of South Africa where both, imports and exports are significant in relation to the total size of the economy. 🗸🗸
• The exclusion of import prices is an important shortcoming. 🗸🗸

Unemployment rate

• In terms of economic development, employment is a very important indicator. 🗸🗸
• Employment is, however, not very easy to measure as so many people are employed in the informal sector which is not recorded. 🗸🗸
• The concept of underemployment is also important. 🗸🗸
• This is when someone is employed in a position that requires less skill than their ability. 🗸🗸
• For example when a qualified accountant works as a delivery person because he or she cannot find employment as an accountant. 🗸🗸
• Someone may also be employed on a part-time basis but would prefer to work full time. 🗸🗸
• A labour force survey is published quarterly by Stats SA. 🗸🗸
• This publication contains information and statistics concerning a variety of issues related to the labour market, including the official unemployment rate. 🗸🗸
• It is a comprehensive survey and provides information on changes in employment in different provinces and industries. 🗸🗸
• Employment in the informal sector, and even reasons for changes in employment figures. 🗸🗸
• The unemployment rate is a percentage of the total labour force. 🗸🗸
• The total labour force includes all employed people and unemployed people who are looking for work. 🗸🗸
• The unemployment rate is a lagging indicator, which means that it will only change a few periods after the trend in the economy has changed. 🗸🗸
• For example if the economy starts growing at a faster pace. 🗸🗸
• The unemployment rate will only react to the growth after two or three quarters. 🗸🗸

Interest rates

• Interest rates are important indicators of future economic activity, as the interest rate level is usually an important determinant when economic decisions are being taken. 🗸🗸
• Both the general interest rate level and the structure of interest rates are important indicators.🗸🗸
• There are many interest rates in the economy. 🗸🗸
• Some are short term rates, such as the repo rate, which is the interest rates at which South Africa banks borrow from the Reserve Bank to finance their liquidity deficit. 🗸🗸
• The difference between the short term interest rates and long term interest rates: 🗸🗸
• Is called the interest rate spread and the term structure of interest rates provides an indication of the interest rates levels on loans or investments of different maturities. 🗸🗸
• Usually we can expect the interest rates level in a developing country to be higher than the interest rate in a developed economy. 🗸🗸
• This is due to the higher risk attached to the developing economy. 🗸🗸
• Factors such as political and economic uncertainty cause this higher risk. 🗸🗸
• Developing economies also need to attract foreign investment to their country  to finance growth. 🗸🗸
• Investors’ funds will move towards the highest yield and thereof. 🗸🗸
• Developing countries cannot allow interest rates in their countries to become too low. 🗸🗸

Money Supply

• The increase in the M3 money supply is an important economic indicator. 🗸🗸
• If M, the money supply increases, this means that either (P) prices or Y (output) has to respond to the increase in M. 🗸🗸
• Therefore, an increase in the money supply is an important indicator showing that output will increase. 🗸🗸
• Whether this will translate to an increase in real production or the price level will depend on factors like production within the economy. 🗸🗸
• In addition to economic growth the employment of people of working age (15 -64 years) is a majot economic objective. 🗸🗸
• We need to know more than this; we need to know who the people are that need to be employed. 🗸🗸
• The numbers are determined, not only by age, but also by people’s willingness to work. 🗸🗸

The Economically Active Population (EAP)

• The EAP is also known as the labour force. 🗸🗸
• It consists of people between the age of 15 and 64 who are willing to work for income in cash or in kind and includes: 🗸🗸
• Workers in the formal sector- workers in the informal sector. 🗸🗸
• Employers any one 🗸🗸
• Self employed persons. 🗸🗸

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Unemployed Persons

• The 2021 estimate of the South African population was million people. 🗸🗸
• The EAP numbered million ( % of the population). 🗸🗸

The Employment Rate

• The number of employed persons expressed as a percentage of the EAP gives the employment rate. 🗸🗸
• The employment rate can also be converted into an index. 🗸🗸
• The SA employment rate was % in 2011. 🗸🗸
• This is low, compared to rates in developed and even some developing countries such as Argentina and Pakistan. 🗸🗸
•  In SA the growth in the economy is not accompanied by the similar growth in employment numbers. 🗸🗸

Employment indicators are used for:

• To calculate trends in employment in different sectors or industries. 🗸🗸
• This indicates structural changes in the economy. 🗸🗸
• To calculate productivity. 🗸🗸
• To show the success of the economy in utilizing its full potential. 🗸🗸

Unemployment Rate

• Statistics SA (SSA) obtains its labour data each year from Quarterly Labour Surveys  (QLFS). 🗸🗸
• It uses the standard definition of the International Labour Office (ILO) to calculate unemployment. 🗸🗸
• The strict definition of unemployment is used to calculate the unemployment rate. 🗸🗸
• Did not work during the seven days prior to the interview. 🗸🗸
• Want to work and are available to start work within a week of the week of the interview. 🗸🗸
• Have taken active steps to look for work or to start some form of self-employment in four week prior to the interview. 🗸🗸
• In SA the official unemployment rate was % in 2021. 🗸🗸
• In developed countries, change in the unemployment rate trigger responses. 🗸🗸
• From governments to fine-tune the economy. 🗸🗸
• Increases require more funds for unemployment insurance (UIF) drawings. 🗸🗸
• In developing countries, unemployment is the most important cause of poverty. 🗸🗸 [Accept current statistical data] [Max 16]
• To give a policy direction in the country. 🗸🗸
• To develop mechanism to caution the most affected sectors of the economy promptly
• e.g.during the 2019-2020 recession/pandemic some companies required a bail out from the government. 🗸🗸
• Develop some economic stabilisers to defuse the huge impact that may result from the unexpected economic downturn. 🗸🗸
• Open some other alternative markets for their goods and services. 🗸🗸
• To do research and advice the business community before the actual moment hits. 🗸🗸
• It can be used to stimulate thinking and growth in a number of sectors in the Economy. 🗸🗸 [Accept any relevant consideration] [Max 10]

CONCLUSION Countries cannot survive and grow their economies if they do not pay attention to economic indicators for their planning processes. [Accept any relevant consideration] [Max 2]

INTRODUCTION Social indicators also called human development indicators as they promote improvement in the standard of living. 🗸🗸 [Any other relevant definition] [Max 2]

BODY-MAIN PART Demographics

• This is the description of the physical population and its composition.
• To get this a census is done regularly to obtain this information. 🗸🗸

Human development Index (HDI)

•  This is a measure of people’s ability to live long and healthy lives, to communicate, 🗸🗸
•  To participate in the community and to have sufficient income to experience a decent lifestyle. 🗸🗸

Human poverty index (HPI)

•  It measures life expectancy is measured by the percentage of newborns not expected to survive to age 40. 🗸🗸
•  Lack of education is measured by the percentage of adults who are ill- educated. 🗸🗸

Health and nutrition

• Life expectancy birth. 🗸🗸
• Infant mortality rate. 🗸🗸

Nutrition indicators

• Daily calorie intake per person. 🗸🗸
• The number of children who go hungry. 🗸🗸
• These measures are important to government as they are supplying healthcare and sometime have to include legislation such as adding vitamin A to basic foodstuffs such as bread. 🗸🗸
• The standard of living of people is directly connected to their education. 🗸🗸
• Educated people are employable and can earn an income and provide for their own wants and needs. 🗸🗸

Two important measures are:

• Secondary enrolment percemtage-how many children that start Grade 1 get to Grade 8 and finish Grade 12. 🗸🗸
• Adult literacy- People over the age of 15 that can read and write. 🗸🗸
• A large percentage of the annual budget is allocated to education. 🗸🗸
• Because of our constitution certain basic services must be supplied by the government. 🗸🗸
• These services have a direct effect on people’s living standards. 🗸🗸
• Electricity 🗸🗸
• Refuse disposal🗸🗸
• Water supply🗸🗸
• Sanitation🗸🗸

Housing and urbanisation

• Urbanisation the process by which an increasing proportion of a country’s population is concentrated in its urban areas as a result of natural increase and migration from rural areas. 🗸🗸
• This measures is important as more people come to live in urban areas the greater the demand for housing, services, education, health care etc. 🗸🗸
• Housing the percentage of the population living in a permanent dwelling or house. 🗸🗸
• The government issue housing subsidies to help poor people to own a house South African citizens or permanent residents earning R3 500 or less a month could apply for this subsidy. 🗸🗸

International comparisons

• Figures collected by the World Bank, International Monetary Fund (IMF) and United Nations provide the best data for comparison purpose. 🗸🗸

Other measures used:

• Purchasing power parity (PPP) The number of units of one country’s currency that give the holder the same purchasing power as one unit of another country’s currency. 🗸🗸
• The Big Mac Index, The index is based on the price of the Big Mac around the world as compared to its price in the United States. 🗸🗸 [Max 40]

CONCLUSION From the above discussion it is clear that social indicators play a significant role in South Africa. It is, therefore, of the utmost importance that we should study their uses in depth. [Max 2]

MICROECONOMICS-PAPER 2

INTRODUCTION A perfect market is a market structure which has a large number of buyers and sellers.  OR The market price is determined by the industry (demand and supply curves).  OR This means that individual businesses are price takers, i.e. they are not able to influence prices. OR Perfect competition is an imaginary situation, whereas monopolistic competition is a reality. 🗸🗸 [Accept any other relevant introduction] [Max 2] 

BODY-MAIN PART

• The indicating of the equilibrium positions on the perfect market structure is of utmost importance because from this point where MC = MR
• The dotted lines will be drawn to show economic profit or economics loss. 
• Where the dotted lines intersect the AC and AR curves either normal profit or economic profit or economic loss will be indicated and shadowed.

Mark allocation for graph:

• Position / shape of MC curve = 1 mark
• MR curve = 1 mark
• Position / shape of AC curve = 2 marks
• Equilibrium point = 1 mark
• Indication of price / quantity = 1 mark
• Shading of economic loss = 2 marks MAX MARKS = (8)

Allocate marks on the graph according to the rubric provided and if facts are duplicated again in writing, do not allocate marks. Max of 8 marks.

• Equilibrium is at E 1 i.e. where MC = MR 
• At this point Q 1 goods are produced at a price of P 1  
• The averages cost for Q 1 units is point R on the AC curve 
• Price / AR is greater than AC ( TR > TC)
• Therefore economic profit is represented by the area P 1 SRE 1  
• Equilibrium is at E 1 i.e. where MC = MR
• At equilibrium (point E 1 ) average cost is equal to price 
• The AC curve is tangent to the demand curve which means that P/AR = AC (TR = TC) 
• The business makes normal profit which is the minimum earnings required to prevent the entrepreneur from leaving the industry. 
• Equilibrium is at E1, i.e. where MC = MR 
• At this point Q1 goods are produced at a price of P1 
• At equilibrium (point E1) price/AR is less than average cost/the AC curve is lies above the demand curve which means that P/AR < AC (TR < TC) 
• The business makes an economic loss A maximum of 24 marks will be allocated for graph illustration and analysis: 8 marks max per graph illustration - (Max 26 marks)

ADDITIONAL PART CONDITIONS For a market to successfully operate under perfect competition, the following conditions should prevail at the same time:

• No firm can influence the market price (price takers) due to a large number of buyers and sellers 
• Products are identical (homogeneous) 
• There are no barriers of entry, meaning that there is freedom of entry and exit 
• Buyers and sellers act independently - no collusion between sellers 
• No government interference to influence the market – the market is unregulated 
• Free movement between markets - all factors of production are completely mobile 
• Both buyers and sellers have full knowledge of all the prevailing market conditions (perfect information) 
• If any of the above conditions are not met, the market is regarded as an imperfect market Any 5 x 2 = [Max 10 marks]

CONCLUSION Freedom of entry and exit into the perfect market alter the supply of goods on the market. This will result in changes in price which influences the profit or loss of a business.  If price falls to a level where it is equal to the AVC then the firm will shut-down.  [Max 2] Discuss the monopoly in detail (with/without the aid of graphs) (Imperfect Market)

INTRODUCTION A firm is regarded as a monopolist when it owns or controls the total supply of a scarce factor of production. Monopoly is a market structure where only one seller operates. 🗸🗸

BODY: MAIN PART The characteristics of a monopoly

Number of firms

• The monopoly consists out of one single firm. 🗸🗸
• The monopoly is also the industry. 🗸🗸
• Example: Eskom or De Beers – diamond-selling 🗸🗸 [Accept any other relevant example]

Nature of product

• The product is unique with no close substitute. 🗸🗸
• Example: Diamonds are unique. 🗸🗸

Market entry

• Refers to how easy or difficult it is for businesses to enter or to leave the market 🗸🗸
• Is entirely/completely blocked. 🗸🗸
• Economies of scale 🗸🗸
• Limited size of the market 🗸🗸
• Exclusive ownership of raw materials 🗸🗸
• Licensing 🗸🗸
• Sole rights 🗸🗸
• Import restrictions 🗸🗸

They decide on their production level

• The monopolist cannot set the level of output and the price independently of each other. 🗸🗸
• If a monopolist wants to charge a higher price, it has to sell fewer units of goods. 🗸🗸 Alternatively, a reduction in price will result in a higher output sold. 🗸🗸
• A monopolist is confronted with a normal market demand curve 🗸🗸
• The demand curve slopes downwards from left to right 🗸🗸
• Any point on the monopolist’s demand curve (D) is an indication of the quantity of the product that can be sold and the price at which it will trade. 🗸🗸

They are exposed to market forces

• Consumers have limited budgets and a monopoly can therefore not demand excessive prices for its product. 🗸🗸
• The monopolist’s product has to compete for the consumer’s favour and money with all other products available in the economy. 🗸🗸

They face substitutes

• There are few products that have no close substitutes. 🗸🗸
• For example, cell phones can compete with telephone services. 🗸🗸

They may enjoy favourable circumstances

• Sometimes an entrepreneur may enjoy favourable circumstances in a certain geographical area. 🗸🗸
• For example, there may be only one supplier of milk in a particular town. 🗸🗸

They may exploit consumers

• Because a monopolist is the only supplier of a product, there is always the possibility of consumer exploitation. 🗸🗸
• However, most governments continually take steps to guard against such practices. 🗸🗸

Market Information

• All information on market conditions is available to both buyers and sellers. 🗸🗸
• This means that there are no uncertainties. 🗸🗸

Control over price

• In the case of a monopoly there are considerable price control, but limited by market demand and the goal of profit maximisation. 🗸🗸

Long-run economic profit Can be positive

• Because new entries are blocked and short-run economic profit therefore cannot be reduced by new competing firms entering the industry 🗸🗸
• The monopoly can thus continue to earn economic profit as long as the demand for its product remains intact 🗸🗸

Heading = 1 mark AC = 1 mark DD/AR = 1 mark MC = 1 mark Profit maximisation point =1 mark Labelling of the axis = 1 mark Labelling on the axis = 1 mark

Long run equilibrium of a perfect competitor

CONCLUSION A monopoly does not always make economic profit in the short run; it can also make economic loss in the short run if the total cost exceeds total revenue. 🗸🗸

INTRODUCTION

• The oligopoly is a type of imperfect market in which only a few large producers dominate the market. 🗸🗸 [Accept any other relevant and correct response]

MAIN PART Nature of product

• The product may be homogeneous in a pure oligopoly. 🗸🗸
• If the product is differentiated, it is known as a differentiated oligopoly. 🗸🗸

Market information

• There is incomplete information on the product and the prices. 🗸🗸
•  Market entry is not easy, it is limited in the sense that huge capital outlay might be necessary. 🗸🗸
• Oligopolists have considerable control over price, it can influence price, but not as much as the monopolist. 🗸🗸
• Oligopolies can frequently change their prices in order to increase their market share and this result in price wars. 🗸🗸

Mutual dependence

• The decision of one firm will influence and be influenced by the decisions of the other competitors. 🗸🗸
• Mutual dependence (interdependence) exists amongst these businesses.
• A change in the price or change in the market share by one firm is reflected in the sales of the others. 🗸🗸

Non-price competition

• Non - price competition can be through advertising, packaging, after-sales services. 🗸🗸
• Since price competition can result in destructive price wars, oligopolies prefer to compete on a different basis. 🗸🗸
• Participants observe one another carefully- when one oligopolist launches an advertising campaign, its competitors soon follow suite. 🗸🗸
• If oligopolies operate as a cartel, firms have an absolute cost advantage over the rest of the other competitors in the industry. 🗸🗸
• Collusion is a strategy used by firms to eliminate competition amongst each other. 🗸🗸
• It can be in a form of overt collusion where firms can work together to form a cartel and tacit collusion where a dominating business controls the price. 🗸🗸

Limited competition

• There are only a few suppliers manufacturing the same product. 🗸🗸

Economic profit

• Oligopolies can make an economic profit over the long term. 🗸🗸
• Abnormal profits may result to joint decision-making in an oligopoly. 🗸🗸

Demand curve

• Slope from left down to the right. 🗸🗸
• It is known as the kinked demand since it contains the upper relatively elastic slope and the lower relatively inelastic slope. 🗸🗸 [Accept any other relevant and correct response] [Max. 26]

ADDITIONAL PART Oligopolist may increase their market share using non-price competition strategies by:

• branding their product to create an impression that its product is for a particular age group or income group. 🗸🗸
• aggressive advertising which inform customers about the business or product it provides.🗸🗸
• Using appealing packaging to bring out important features of their product.
• improving their customer service in order to ensure that they return to their businesses.🗸🗸
• providing relevant and precise information, which is crucial to the customers, since there are competitors in the market, customers will patronize the businesses that provides relevant information. 🗸🗸
• extending shopping hours to the convenience of customers.
• Offering loyalty rewards to customers which will encourage their return to spend accumulated rewards. 🗸🗸  [Accept any other relevant response] [Max.10]
• In South Africa, oligopolists have been found to be illegally manipulating prices to their benefit, yet to the detriment of consumers and have been penalized for such action. 🗸🗸 [Accept any other relevant response]

Compare and contrast any TWO types of market structures (perfect to imperfect/imperfect to imperfect) in detail in terms of the following. - Number of businesses - Nature of product - Entrance - Control over prices - Information - Examples - Demand curve - Economic profit/loss - Decision-making - Collusion - Productive/Technical efficiency - Allocative efficiency (Perfect Market and Imperfect Market)

‘’Market structures are classified under Perfect Competition, Monopolistic Competition, Oligopoly and Monopoly’’ Compare all FOUR market structures in a tabular form. NB: Learners should write in full sentences even if the comparison is done in a tabular format). (Marks depend on the combination of market structures to be examined)

PLEASE NOTE: THE ABOVE TABLE SHOULD BE VERBALLY WRITTEN AS PER ESSAY INSTRUCTION

INTRODUCTION Market failure is when the forces of supply and demand fail to allocate resources efficiently / when markets fail to allocate goods and services efficiently. 🗸🗸 [Accept any other correct introduction] [Max 2]

BODY: MAIN PART                           

1. Missing Markets

• Markets are often incomplete in the sense that they cannot meet the demand for certain goods. 🗸🗸
• Public goods:
• They are not provided by the price mechanism because producers cannot withhold the goods from non-payment and there is often no way of measuring how much a person consumes. 🗸🗸

Public goods have the following features: Non-rivalry:

• The consumption by one person does not reduce the consumption of another person e.g. a lighthouse. 🗸🗸

Non-excludability:

• Consumption cannot be confined to those who have paid, so there are free riders e.g. radio and TV in South Africa. 🗸🗸

Merit goods

• These are goods/services that are deemed necessary or beneficial to the society, e.g. education, health care etc. 🗸🗸
• These goods are highly desirable for general welfare but not highly rated by the market, therefore provide inadequate output/supply. 🗸🗸
• If people had to pay market prices for them relatively too little would be consumed – the market will fail. 🗸🗸
• The reason for undersupply of merit goods is that the market only takes the private costs and benefits into account and not the social costs and benefits. 🗸🗸

Demerit goods

• These are goods/services that are regarded as bad or harmful for consumption hence we should use less of these e.g. alcohol, cigarettes, etc. 🗸🗸
• Demerit goods lead to a lot of social costs, therefore, the government charges sin tax / excise duties to discourage the consumption of such goods. 🗸🗸
• While the market is willing to supply demerit goods, it tends to oversupply demerit goods. 🗸🗸
• Some consumers may be unaware of the true cost of consuming them. 🗸🗸

2 Lack of information

• Technical and allocative efficiency require that both producers and consumers have complete and accurate information about the costs and benefits of the goods and services produced and consumed in the market. Producers and consumers make production and consumption decisions based on the information they have. 🗸🗸
• When information is incomplete or inaccurate, it leads to wrong decisions about what to produce, how to produce and for whom to produce, and a waste of resources occurs. 🗸🗸
• Producers might not know all the different technologies and production techniques that are available and the different resources that can best be used to produce goods/services more efficiently. 🗸🗸
• Consumers might not know that the price of a product is lower from some other suppliers or about the harmful effects of a product since they might just base their decisions to consume on the information from a misleading suppliers. 🗸🗸

3. Immobility of factors of production

• Markets do not respond to changes in consumer demand if resources cannot be easily reallocated or due to a lack of information🗸🗸
• Labour takes time to move to into new occupations and geographically to meet the changes in consumer demand. 🗸🗸
• Physical capital e.g. equipment, buildings, land and raw materials can only move from one place to another at a high cost, but cannot be moved to fit a change in demand. 🗸🗸
• Technological applications change production methods e.g. use of robots rather than physical labour. It takes time for most industries to adapt. 🗸🗸
• With greater technological change there is an increasing need for workers to become flexible, to update skills, change employment, occupations and work patterns. 🗸🗸 [Max 26]
• Motivate why government has implemented a national minimum wage in the labour market. 🗸🗸
• Pressure was put on the South African government to introduce labour laws which require employers to pay minimum wages. 🗸🗸
• The application of minimum wage laws is needed to improve a redistribution of income. 🗸🗸

The main objectives were:

• To redress inequality (Gap between wealthy and poor) 🗸🗸
• To improve the standard of living. 🗸🗸
•  Government tried to protect domestic workers and farm workers — thus preventing exploitation. 🗸🗸  [Max 10] [Accept any other correct relevant response]

CONCLUSION Governments intervene in the market when market forces cannot achieve the desired output. [Max 2] [Accept any other relevant conclusion]

INTRODUCTION The purpose of government intervention is to ensure that the right quantity of resources is allocated to the production of output so that society as a whole [Accept any other relevant introduction] [Max 2] maximizes its benefits. 🗸🗸

• Sometimes government will set the price of a good or service at a maximum level that is  below the market price 🗸🗸
• The government intervene and passes a law that suppliers may not charge more than the maximum price 🗸🗸
• The immediate effect is that quantity supply will drop 🗸🗸
• The original market equilibrium price and quantity is P and Q respectively 🗸🗸
• The price set by the government is P1, at this price the demand will increase to Q1 and the supply will decrease to Q2 🗸🗸
• The difference between Q1 and Q2 is the shortfall that will be created on the market 🗸🗸
• The shortage caused by the price ceiling creates a problem of how to allocate the good since the demand has increased 🗸🗸
• Black markets start to develop [Mark allocation: Graph 6 and discussion max. 10 marks]
• The appropriate way to intervene in the market by government is by levying taxes as a method to recover external cost 🗸🗸
• The original market equilibrium at e, with P as the equilibrium price and Q as the equilibrium quantity 🗸🗸
• The tax increase will shift the supply curve to the left 🗸🗸
• New equilibrium at E1 🗸🗸
• A tax would raise the price from P to P1 🗸🗸
• The production will decrease from Q to Q1 🗸🗸 [Mark allocation: Graph total 6 marks and discussion max 10 marks]
• Explain the supply of undesirable goods in South Africa and how the government can deal with it. 🗸🗸
• Items such as cigarettes, alcohol and non-prescription drugs are examples of demerit or undesirable goods. 🗸🗸
• These goods are often over supplied in the market, due to the fact that the external cost is not added to the market price. 🗸🗸
• Some consumers may be unaware of the true cost of consuming them, their negative externalities. 🗸🗸
• Government can ban their consumption or reduce it by means of taxation. 🗸🗸
• Taxation on these products will increase the market price and hopefully the demand for these products will drop. 🗸🗸 [10 marks] [Accept any other correct relevant response]

CONCLUSION The intervention of government ensures that inefficiencies is eliminated and that the market is operating effectively 🗸🗸 [Accept any other relevant conclusion] [Max 2]

CONTEMPORARY ECONOMIC ISSUES-PAPER 2

• This is a constant and significant increase in the general price level of goods and services in the country over a certain period of time, e.g. a year. 🗸🗸 [Max 2] [Accept any relevant introduction]

BODY-MAIN PART Creditors and Debtors

• Whereas borrowers (debtors) benefit from price increases, lenders (creditors) suffer due to price increases. 🗸🗸
• This is because borrowers receive money with a relatively high purchasing power and they repay their loans with money with low purchasing power, unless interest rates are sufficient to prevent this occurrence. 🗸🗸

Salary and Wage Earners

• Price increases affect people whose incomes are relatively fixed (in other words, people whose incomes remains constant or do not increase at the same rate as prices do. 🗸🗸
• This group includes retired people, pensioners and the poor. 🗸🗸
• As prices increase, their almost fixed incomes purchase less and less. 🗸🗸
• However there are individuals and entrepreneurs whose incomes often increase at a rate that is higher than the inflation rate and they do not suffer but gain from inflation. 🗸🗸
• Globalization results in increased employment opportunities in the economy due to increased productivity, the need to produce more goods both for local and international markets rises in globalised economies. 🗸🗸
• The demand for increased skilled labour becomes a need as a result, this demand for labour benefits the local labour market in increased employment opportunities and growth. 🗸🗸

Investors and Savers

• Different types of investments are affected by inflation: Assets with fixed nominal values. 🗸🗸
• These assets have a fixed nominal value and give a return if they are held until maturity. 🗸🗸
• When they are paid, because their nominal values remain constant, the purchasing power of the nominal values decreases as prices increase (that is, their real value decreases). 🗸🗸

Assets with Flexible Market Values

• The holders of shares and fixed property usually gain by price increases because the nominal values of these assets tend to increase at least proportionately to the rate of inflation (that is, their market values are flexible). 🗸🗸
• Often the prices of these assets increase more rapidly than increases in the general price level.🗸🗸
• In this case, inflation creates wealth to the advantage of those holding such assets. 🗸🗸
• South Africa has a progressive personal income tax system. 🗸🗸
• This means that marginal and average tax rates increase in harmony with the income level. 🗸🗸
• The higher level an individual’s income, the greater the percentage of income he or she has to pay tax. 🗸🗸
• With inflation, taxpayers’ nominal income (wages and salaries) rise even when their real income remain unchanged. 🗸🗸

Taxes are levied on nominal income and not on real income.

• Therefore if the income tax schedule remains unchanged inflation increases the average rate of personal income tax. 🗸🗸
• Individuals will have to pay higher taxes even if they are actually no better off than before. 🗸🗸
• This phenomenon known as bracket creep, lads to a redistribution of income from taxpayers to the government. 🗸🗸
• Bracket deep results from a combination of inflation and progressive income tax. 🗸🗸
• It has the same effect as an increase in the tax rate. 🗸🗸

Industrial Peace

• Wage bargaining is often accompanied by strikes and mass action. 🗸🗸
• These actions can sometimes spill over into violence, which affects society at large. 🗸🗸
• In extreme situations in the presence of exceptionally high inflation together with a government that is determined not to yield to wage increase demands (which can push inflation to even higher levels), widespread civil unrest follows. 🗸🗸

Inflation has a negative effect on economic growth

• Inflation leads to increased uncertainty in the economy. 🗸🗸
• This uncertainty discourages savings and investments especially in the long term. 🗸🗸
• Which are necessary for economic growth –result reduced economic growth. 🗸🗸

Inflation affects the real money value and savings

• Because inflation reduces the real value of money, it affects the real value of money saved in particular. 🗸🗸
• This means that inflation, the rand buys fewer goods and services than before. 🗸🗸
• It also means that the real money value saved is worth less at the end of the savings period than when the money was saved. 🗸🗸
• e.g. if a consumer receives 5 % interest on his/her savings account while the inflation rate is 8%, then the real rate of interest on the consumer’s savings is -3%.🗸🗸

Inflation has an adverse effect on a country’s balance of payments (BOP).

• If a country’s rate of inflation is higher than that of its trading partners the prices of exported goods increase while the prices of imported goods decrease. 🗸🗸
• This leads to loss of competitiveness in the export market, which in turn leads to decreased exports. 🗸🗸

This has a negative effect on the country’s balance of payments (BOP).

• The loss of export competiveness can also increase unemployment inflation affects the redistribution of income in a country. 🗸🗸

The effects of inflation are uneven.

• While it does not clearly benefit anyone and certainly harms most, it also harms some less than others. 🗸🗸
• Inflation also tends to redistribute income from low-income groups to higher income groups. 🗸🗸
• This is because people in the low income groups do not have assets than can rise in value faster than the rate of inflation to help them overcome the effects of inflation. 🗸🗸
• Powerful groups such as trade unions large companies and the wealthy people, are able to increase their share of national income at the expense of disadvantaged people such as pensioners the unemployed and the welfare recipients. 🗸🗸

Inflation has social and political costs

• When inflation continually causes rising prices it makes people unhappy and can disturb relations between employers and the employees and between customers and traders or service providers. 🗸🗸
• People in lower-income brackets feel severe effects of increases in the price of essential items such as bread, maize meal rental and transport costs. 🗸🗸
• This can lead to social unrest and political unrest. 🗸🗸

Inflation feeds on itself and causes further inflation

• This is called the inflation spiral. 🗸🗸 e.g. higher wage demands cause producers to increase their prices to maintain their profits.
• This happens again and again pushing prices further every time. 🗸🗸
• If the government does not keep this wage price spiral in check, inflation may get out of control and become hyperinflation. 🗸🗸 [Max 26]

ADDITIONAL PART Debate the merits (benefits) of administered prices by the government

• These are prices regulated by the government e.g. home owner’s costs on water/household fuel (paraffin and electricity) medical care (public hospitals) communication (telephone calls, telephone rentals and installations/postage cell communications /transport (petrol). 🗸🗸
• Most of the administered prices are adjusted once a year which brings price stability. 🗸🗸
• Regulated prices are restricted as to the extent to which prices may vary, depending on the government’s objectives. 🗸🗸
• Administered prices provide additional revenue to national treasury. 🗸🗸
• It appears that some of these prices remain extremely robust over the short term. 🗸🗸 [Accept any other relevant response] [Max 10]
• If inflation is not controlled by the proper and effective instruments, it can have challenging problems to the economy in general. 🗸🗸

INTRODUCTION COST PUSH Inflation is a sustained and significant increase in general price level over a period of time and a simultaneous decrease in the purchasing power of money. Accept any other relevant introduction. 🗸🗸 [Max 2] 

BODY: MAIN PART Causes of cost-push inflation

Increase in Wages:

• In South Africa, increase in wages constitute more than 50% of Gross Value Added at basic prices 🗸🗸
• If the increase in wages is not accompanied by an increase in production, the cost of production will rise 🗸🗸
• Producers will increase the prices of their products to offset the high cost of production strikes and stay-aways / labour union activities 🗸🗸

Key inputs/ increase in prices of imported capital goods

• When the prices of key inputs that are imported increase, domestic cost of production 🗸🗸
• increases especially in the manufacturing sector 🗸🗸
• Supply shocks e.g. sudden increase of oil causes a knock-off effect 🗸🗸

Exchange rate depreciation

• A decrease in the value of the rand will result in an increase in prices of imports 🗸🗸

Profit margins

• When firms increase profit margins, the prices that consumers pay also increase 🗸🗸
• Sometimes firms use their market power to push up prices 🗸🗸

Productivity

• Less productive factors of production will lead to increased cost per unit 🗸🗸
• Strikes and stay-aways often reduce production output and can result in price increases 🗸🗸

Natural disasters

• Natural disasters such as drought, flood and global warming can impact on the cost of production 🗸🗸
• This is often the case in relation to food prices 🗸🗸
• An increase in interest rates results businesses paying more money for capital loaned firms recover these costs by increasing the prices of their products 🗸🗸

Increase in taxation

• Increase in direct tax like company income tax may lead to businesses increasing their prices to offset the extra burden 🗸🗸
• Increase in indirect tax such as custom duty will lead to increase in costs of supplying a particular product, therefore the price will increase 🗸🗸
• Administered prices increase e.g. fuel prices
• Shoplifting and losses caused by employees are added to the prices of products 🗸🗸 [Accept any other relevant fact. Maximum 8 marks for headings] [Max. 26]

DEMAND PULL INFLATION Total spending on domestic goods and services in the economy consists of the spending by households, firms, the government and the foreign sector.

• Total spending = C + I + G + (X-M). 🗸🗸

Causes of demand inflation Increase in consumption [C] – consumers expenditure will increase mainly for three reasons:

• a. If consumers save less & spend more🗸🗸
• b. Decrease in personal income tax. 🗸🗸
• c. A greater availability of consumer credit, because of decrease in interest rate. 🗸🗸

Investment [I] –When business invest this increase demand for labour, cement, sand and bricks. 🗸🗸

• Supply cannot keep up with the increase in demand and this will increase prices. 🗸🗸
• Lower interest rates may result in an improvement in the sentiment and profit expectations of businesses. 🗸🗸
• Businesses invest more and this may lead to an increase in the demand of goods and services that are part of the investment (for example, a new building requires cement bricks and labour).🗸🗸
• If aggregate demand increases at a faster rate than aggregate supply, price increases will follow.🗸🗸

Government Spending [G] – Three main reasons.

• a. New capital projects🗸🗸
• b. Consumption expenditure on education, health, and protection. 🗸🗸
• c. Social expenditure on public work programme to create jobs and increase in social allowances. 🗸🗸

Export earnings [X]

• a. When economy of trading country improve. 🗸🗸
• b. When global economy expands. 🗸🗸

Access to credit

• There is greater availability of consumer credit (by means of credit cards) of the availability of cheaper credit as a result of decreases in lending rates. As new credit is extended the credit multiplier kicks in and more credit is created. 🗸🗸

Consumption spending

• Most governments will at times increase expenditures on education, health, protection and safety (for example, military equipment such as bomber jets and submarines). 🗸🗸

Social spending

• Governments sometimes feel they have to do something substantive about unemployment and poverty. 🗸🗸
• They borrow money and spend it on public works programmes or raise the level of social grants year after year at a higher rate than the inflation rate. 🗸🗸
• Such expenditures invariably lead to inflation because they add to aggregate demand without adding anything to aggregate supply. 🗸🗸

Commodities demand

• The world’s demand for commodities expands and contracts like business cycles do. During an expansionary period, foreign demand increases and this leads to greater volumes of exports. The income earned from these exports adds to aggregate demand and prices increase. 🗸🗸

BODY: ADDITIONAL PART YES / NO

• Inflation targeting is when a particular percentage is set as an acceptable level for an increase in general price levels 🗸🗸
• The SARB's inflation target is a range of 3% and 6% 🗸🗸
• The aim of inflation targeting policy is to achieve and maintain price stability 🗸🗸
• The implementation of the inflation target is easy to understand – expressed in numbers which makes it very clear and transparent 🗸🗸
• It reduces uncertainty and promotes sound planning in the public and private sectors 🗸🗸
• It provides an explicit yardstick that serves to discipline monetary policy and improves the accountability of the central banks 🗸🗸
• The SARB make use of monetary policy, specifically the repo rate to keep the inflation within the target range 🗸🗸
• The government make use of fiscal policy regarding public sector revenue and expenditure 🗸🗸

Positive effects

• Where demand is higher than supply an increase in interest rates help to bring the demand down 🗸🗸
• The policy can helps businesses to make economic plans without worrying about the effects of high inflation 🗸🗸
• South Africa's price level has been fairly stable since the introduction of the inflation targeting policy in 2000 🗸🗸

Negative effects

• Inflation targeting can cause a reduction in economic growth 🗸🗸
• This is because the raising of interest rates, result in a decrease in total spending which is needed for production to increase 🗸🗸
• Decreased economic growth can increase unemployment 🗸🗸
• South Africa has been experiencing an increase in unemployment since the implementation of the policy in 2000 🗸🗸
• Inflation targeting is difficult to implement when the cause of inflation is supply shocks 🗸🗸 [Max. 10]
• A summary of what has been discussed without repeating facts already mentioned in the body. 🗸🗸
• An opinion or valued judgement on the facts discussed. 🗸🗸
• Additional support information to strengthen the discussion. 🗸🗸
• A contradictory viewpoint with motivation. 🗸🗸
• Recommendations. 🗸🗸
• E.g. Inflation can be a threat to the normal functioning of the economy; therefore, measures like monetary and fiscal are vital to keep the phenomenon under control. 🗸🗸 
• This is the activities of people travelling to and staying in places outside their usual environment for a period not longer than one consecutive year for leisure, business and other purposes and not related to a remunerative activity from within the place visited 🗸🗸 [Max 2]

BODY - MAIN PART Gross domestic product (GDP)

• Tourism impacts mostly on the services industry than on agriculture or manufacturing although there are upstream effects when agriculture provides foodstuffs to restaurants and manufacturing provides vehicles for transport 🗸🗸

Direct contribution on GDP

• Statistics South Africa (SSA) shows that in 2020 inbound tourists contributed R69 billion and domestic tourists R billion, amounting to R billion - about % of South Africa's GDP 🗸🗸

Indirect contribution on GDP

• If the indirect contribution is added, tourism add about % to GDP 🗸🗸
• The WTTC estimated that tourism contributed % to the GDP of the world economy in 2020🗸🗸
• In developing economies the service sector is responsible for around % of GDP, while it is responsible for more than % of GDP in developed economies 🗸🗸
• South Africa is similar to that of developed economies and services contributed more than % of GDP in 2020. 🗸🗸
• Tourism has a major effect on employment and this amounted to million workers in 2020🗸🗸
• Tourism is the world’s largest generator of jobs 🗸🗸
• Tourism is labour intensive 🗸🗸
• More jobs can be created with every unit of capital invested in tourism than elsewhere
• Tourism employs many skills 🗸🗸
• It ranges from accountants and hairdressers to tour guides and trackers, 🗸🗸
• the tourism industry draws upon numerous skills 🗸🗸
• Tourism can provide immediate employment 🗸🗸
• If one quarter of tourists’ accommodation establishment in South Africa starts to offer live entertainment to quests, thousands of entertainers could be employed within days 🗸🗸
• Tourism provides entrepreneurship opportunities 🗸🗸
• The tourism industry accommodates informal sector enterprises, from craft and fruit vendors to pavement vendors, chair rentals 🗸🗸
• Tourism is widely recognized as one of the fastest and more effective redistribution mechanisms in development 🗸🗸
• It brings development to the poor in rural areas 🗸🗸
• Tourism provides an alternative to urbanisation, permitting women and youth to continue a rural family lifestyle while giving them business opportunities 🗸🗸
• E.g. to start and operate small-scale tourism businesses around community asserts (forests, parks and rivers) 🗸🗸

Externalities

• The rapidly expanding tourism industry could have both positive and negative impacts that extend well into the future 🗸🗸
• While tourism attracts large amount of revenue, it can also cause undue environmental damage that can harm the very foundation on which it depends 🗸🗸
• All other economic resources, tourism uses resources and produces wastes and also creates environmental costs (pollution) and benefits in the process 🗸🗸
• Rapid growth in tourism aiming at short-term benefits usually results in more negative effects and these includes the degeneration of traditions and cultural values and environmental damage to sites and setting 🗸🗸

Environment Tourism activities create environmental stress:

• Permanent environmental restructuring which includes major infrastructure 🗸🗸
• Waste product generation such as biological and non-biological waste that damages fish production 🗸🗸
• Direct environmental stress caused by tourist activities, e.g. the destruction of vegetation and dunes 🗸🗸
• Effects on population dynamics such as migration and increased urban densities 🗸🗸
• Transport infrastructure, e.g. roads, airports 🗸🗸
• Communication and infrastructure including telephone lines, electronic signal stations and radio, TVs’ 🗸🗸
• Energy infrastructure such electricity and liquid fuel 🗸🗸
• Basic service infrastructure such as clean water and sewerage systems 🗸🗸 [Max. 26]

ADDITIONAL PART How can Indigenous Knowledge Systems be used to promote tourism in South Africa?

• More cultural villages can be improved to facilitate and promote tourism e.g. Shangana in Mpumalanga, Basotho in the Free State and Simunye Zulu Lodge in Kwazulu-Natal. 🗸🗸
• Where guides explain and demonstrate storytelling and indigenous knowledge practices. 🗸🗸
• Advertising campaigns domestically and internationally by travel agencies, hotels and B & B, lodges and SA Tourism can focus on promoting these heritage sites in brochures and fliers, social media. 🗸🗸
• These actions will make tourists more aware of these attractions 🗸🗸
• Encourage tourists to experience different cultures and townships - experience life at home with a household and eat at a shebeen or township restaurant 🗸🗸
• World Heritage Sites of South Africa can be promoted for their cultural significance e.g. the Fossil Hominid Sites of Sterkfontein, Mapungubwe Cultural Landscape, Richtersveld Cultural and Botanical Landscape, Vredefort Dome and Robben Island 🗸🗸
• Environmental World Heritage Sites of South Africa selected for their natural importance namely the Cape Floral Region Protected Areas, Isimangaliso Wetlands Park as well as uKhahlamba/Drakensberg Park which has been selected for its mixed significance 🗸🗸
• Arts and culture festivals e.g. the National Arts Festival, the Hermanus Festival, Awesome Africa Music Festival and Macufe African Cultural Festival should more widely be advertised to encourage tourists to attend 🗸🗸
• According to the World Health Organisation, a large majority of the African population make use of traditional medicines for health, social-cultural and economic reasons and forms part of the unique experience tourists experience when visiting local villages 🗸🗸
• In South Africa tourists are made more aware of the important role traditional medicine plays in poverty reduction and employment creation 🗸🗸
• Relaxation of restrictive tourist visa laws to facilitate easier entry into South Africa 🗸🗸 [Accept any other relevant answers] [Max. 10]
• South Africa attracted over million tourists in 2020 /For every 8.1 additional tourist to South Africa, one new job is created/one per cent increase in tourism adds R million annually to the SA economy. 🗸🗸 [Accept any other relevant higher order conclusion] [Max. 2]
• Tourism is the activities of people travelling to and staying in places outside their usual environment for no more than one consecutive year for leisure, business or other purposes PP 🗸🗸  [Accept any other correct relevant response] [Max 2]

MAIN PART Business sector

• Tourism stimulates business in areas such as accommodation and entertainment 🗸🗸
• The construction industry, in private-public partnership with the government to provide the infrastructure, manufacturing sector and recreation sector all benefits from increased demand due to tourism 🗸🗸
• The previously disadvantaged communities get entrepreneurial opportunities through the black economic empowerment schemes 🗸🗸
• A large number of people get business opportunities in the informal sector e.g. selling of artefacts 🗸🗸
• Local retailers may have an increase in sales (and profits) because of increased demand from tourists 🗸🗸
• Private businesses and government work in partnership to provide the infrastructure needed for tourism 🗸🗸
• This increases the market share of and income of the these businesses 🗸🗸
• Allow existing businesses to improve the quality and variety of their products PP 🗸🗸
• Allow natural monopolies e.g. Table Mountain Cableway to achieve abnormal profits PP 🗸🗸
• The public sector also provides a range of financial incentives for private sector tourism investment (grants, subsidies, loans, tax rebates) PP 🗸🗸 [Max 10]

Infrastructure development

• Adequate and well-maintained infrastructure is essential for tourist destinations PP. 🗸🗸
• Locals share this infrastructure with tourists 🗸🗸
• Government often prioritises economic infrastructure such as ports and beaches 🗸🗸
• In addition to physical and basic infrastructure, social infrastructure is also important for the growth of tourism🗸🗸
• Most of the SDIs and development corridors also have tourism as an important focus PP 🗸🗸 [Max 8]
• Members of households earn income from the tourism sector as tour operators, travel agents etc. 🗸🗸
• Many households are indirectly involved in tourism as employees e.g. in hotels, transport sector. 🗸🗸
• Entrepreneurs from households that operate as curio producers or musicians can earn income from tourism . 🗸🗸
• A large number of households acquire skills in the tourism industry. 🗸🗸
• School curriculum and learnership offer opportunities to acquire these skills . 🗸🗸
• Encourages rural development because many tourist attractions are located in rural areas PP 🗸🗸 [Accept any other correct relevant response] [Max. 26]

ADDITIONAL PART Tourism can be successfully marketed in less popular destinations by:

• advertising the firms' attractions in a variety of media including social media and internet which may reach both local and international potential tourists. 🗸🗸
• focusing on a clear message that concentrates on the strength of the attraction/ uniqueness of the destination. 🗸🗸
• using the indigenous knowledge systems of that particular area where possible PP. 🗸🗸
• describing the service offered in the best possible way to catch the interest of the likely tourist PP E.g. the use of slogans. 🗸🗸
• charging a price that is competitive and money well spent for the service offered. 🗸🗸
• helping the tourist to view the entire service as value for money – deliver a worldclass visitor experience 🗸🗸
• highlighting other places of interest in the vicinity of the attraction as part of a package 🗸🗸
• focusing on proudly South African products/services / Sho’t Left campaign PP 🗸🗸
• help disadvantaged South Africans to benefit from tourist attractions in the less popular destinations PP 🗸🗸 [Accept any other correct relevant response] [Max. 10]

CONCLUSION A weaker exchange rate has been a major contributing factor to South Africa's tourism industry growth over many years. 🗸🗸 [Accept any correct relevant response] [Max 2]

INTRODUCTION Environmental sustainability can be defined as development that meets the need of the present without compromising the ability of future generations to meet their own needs. 🗸🗸

BODY: MAIN PART Public sector intervention Because it is difficult to enforce measures to ensure sustainability the government has to intervene. 🗸🗸

Environmental taxes Environmental taxes (green taxes) can be added to the cost of goods and services for the negative impact they have on the environment. 🗸🗸 The government uses the income generated through these taxes to protect the environment. 🗸🗸 Taxes can be imposed on petrol, paper, emission gases etc. 🗸🗸 In 2003 the government has legislated the use of biodegradable plastic bags which consumers had to pay for🗸🗸 The hope is that they will use fewer bags and ensure a litter free environment. 🗸🗸

Charging for dumping of waste A monthly fee as part of municipal accounts is charged for collection of waste, sewage and garbage. 🗸🗸 Households already pay for the collection of rubbish. 🗸🗸 The factory owner might clean up his waste if it cost him to dump it. 🗸🗸 Industries might also pay for emitting gases that can be harmful to people and the environment. 🗸🗸 Subsidies Subsidies can be awarded to businesses that are willing to reduce pollution and waste. 🗸🗸 Waste can also be reduced by using new techniques or equipment such as solar energy. 🗸🗸 Emission gases from factories can be reduced using new technology. 🗸🗸

Granting property rights Normally owners of properties tend to be more protective over their resources than users who are only interested in the profits the resources offer. 🗸🗸 For this reason the government might grant property rights over a specific area. 🗸🗸 Property rights empowers owners to negotiate contracts with businesses who wish to exploit the area’s resources. 🗸🗸

Marketable permits A government can decide on the maximum desired level of pollution in an area. 🗸🗸 It then distribute pollution rights (marketable permits) to factories within that area. 🗸🗸 This means that each factory can pollute to a certain limit. 🗸🗸 It means that marketable permits are licenses that polluters can buy or sell to meet the control levels set by government. 🗸🗸

Education Incorporating topics into the curriculum of school fosters awareness. 🗸🗸 The public is gradually been made aware of this rising problem. 🗸🗸 Plastic, bottles and cartons can be recycled or made biodegradable. 🗸🗸

Public sector control If the government’s intervention does not attain the desired results, then it has to intervene more directly by setting and enforcing limits. 🗸🗸

Environmental Impact Assessment In SA every projected construction, mining or similar development has to undergo an assessment by qualified environmental professionals. 🗸🗸 To prove that it will not cause unwarranted environmental damage and that the damage can be repaired after construction. 🗸🗸 The cost if built into the project. 🗸🗸

Command and Control Regulations that are set and enforce environmental limits or standards. 🗸🗸 Quantity: e.g. set the limit to the amount of fish to catch, or limit the season catching certain species of fish. 🗸🗸 Quality: e.g. drinking water quality is carefully monitored and controlled. 🗸🗸 Air quality in workplace is subject to minimum standards. 🗸🗸 Social effect: e.g. noxious fumes from factories, dumping of medical waste near settlements, and noise pollution. 🗸🗸

Voluntary agreements Agreements between government and businesses voluntarily to address negative environmental impacts of industries. 🗸🗸 Businesses voluntary agree to decrease the emissions of pollutants. 🗸🗸 Most prefer negotiations so that they can tailor their specific needs and include it into their planning🗸🗸 Agreements can be formal, which is legally binding contract or informal. 🗸🗸 [Max 26]

ADDITIONAL PART Government does not exercise effective control over the continuous dumping of waste because of a lack of coordination between departments. 🗸🗸 The fines imposed on industries that dump waste are too lenient and they continue polluting the environment. 🗸🗸

The minimum standards set for hazardous gas and fuel emissions are not enforced or adjusted. 🗸🗸 The recycling of waste materials are not widely encouraged and promoted and landfill sites are overflowing. 🗸🗸 Government has various laws that is not really effectively implemented. 🗸🗸 Poor service delivery also adds to the problem in certain areas. 🗸🗸 [Accept any other relevant answer] [Max 10]

CONCLUSION Each and every individual, business and government needs to stand together to save our planet. [Accept any other relevant conclusion] [Max 2] Discuss in detail the following problems and the international measures taken to ensure sustainable development (Environmental Sustainability)

INTRODUCTION Environment refers to the physical surroundings and physical conditions that affect people’s lives. 🗸🗸 The ever-increasing pressure on our environment originates from increasing population numbers and excessive consumption🗸🗸 Our air, land, and water are under constant assault from the ever-growing ravages of man-made pollution generated chiefly by industrialized societies. 🗸🗸 [Accept any appropriate introduction] [Max 2]

BODY-MAIN PART Conservation

• Conservation is necessary because human actions cause pollution and over-utilisation of  resources. 🗸🗸
• Conservation is a strategy aimed at achieving the sustainable use and management of natural resources. 🗸🗸
• Conservation seeks a creative continuity of the environment while ensuring that change is sympathetic to the quality of life for both present and future generations. 🗸🗸
• Certain aspects of conservation need to be taken into account.
• Firstly, there is an opportunity cost. 🗸🗸
• Secondly, externalities are often present. 🗸🗸
• Lastly, self-interest has a short term horizon – meaning that decisions cannot be left entirely to market forces. 🗸🗸
• Over utilization of resources causes a reduction in supply, increase in prices, contradiction of demand and a search for substitutes. 🗸🗸
• This necessitates conservation of both renewable and non-renewable resources. 🗸🗸
• Conservation has to be concerned with limiting what is harvested in order to maintain a stable stock at least at the minimum level. 🗸🗸
• Government can use permits and quotas as two possible direct control methods in order to maintain the stock of resources at the minimum level. 🗸🗸

Preservation

• Preservation involves any strategy undertaken to safeguard the environment, maintain its current condition and keep it as habitable as possible for people and animals. 🗸🗸
• Heritage sites, indigenous forests, specifies of animals etc. that have special cultural or environmental significance, are often targeted preservation. 🗸🗸
• Preservation is not likely to work as a private enterprise because the benefit to society is much bigger than the income of the producer. 🗸🗸
• It may be possible to use cost-benefit analysis to calculate the social benefits of preservation of the environment.
• The weaknesses in market solutions require the government to intervene in order to preserve environment assets. 🗸🗸
• Government could do any of the following:
• Buy or expropriate – Environmental assets are simply closed for human use. 🗸🗸
• Subsidise-A subsidy would increase net benefits to the owner and raise the property’s present value. 🗸🗸
• Controls – The government can compel the owner to apply control measures like restricting the quantities exploited or number of visitors allowed per day. 🗸🗸 [26 Max]

ADDITIONAL PART Stockholm Conference (1972)

• The Stockholm Conference was the first major large scale international meeting on the environment convened with the support of the United Nations. 🗸🗸
• The meeting agreed upon a declaration containing 26 principles concerning the environment and development, an action plan with 109 recommendations and a resolution. 🗸🗸
• The meeting directly impacted on the environmental policies of many countries. 🗸🗸

Rio de Janeiro Earth Summit (1992)

• This meeting acknowledged the importance of cooperation in addressing environmental concerns that threaten sustainability. 🗸🗸
• The conference helped to make countries around the world aware of the dangers of unsustainable development. 🗸🗸
• Unfortunately the principles outlined and accepted at the summit were not binding and subsequently many countries did not confirm to them. 🗸🗸

Rio + 5 (1997)

• This conference noted that globalization made some countries poorer – 🗸🗸
• In particular African countries and the least developed countries showed a low level of growth or even declined. 🗸🗸

Kyoto Protocol for Climate Change (1997)

• Countries committed themselves to reducing their total emissions of greenhouse by 5 %.🗸🗸
• Unfortunately, China was excluded from this agreement and the USA withdrew. 🗸🗸

World Summit on Sustainable Development (2002)

• The objective of this summit held in Johannesburg was to conserve natural resources in a world that is growing in population. 🗸🗸
• The meeting focused on issues like poverty eradication, water and sanitation, energy, health agriculture and biodiversity. 🗸🗸

COP 17 (2011)

• The main goal of the conference held in Durban was to establish a treaty to limit carbon emissions and plan strategies to keep global temperature rise to less than 2 degree Celsius in the 21st Century. 🗸🗸
• Although the framework for this treaty was established it was not finalised. 🗸🗸
• The solution to our environmental problems will depend on our ability to make sound economic decisions that take account of the natural environment and to change our individual behaviour and attitudes. 🗸🗸 [Accept any other relevant conclusion] [Max 2]

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Outstanding Research Paper Topics to Get Your Writing Started

[Post information was updated on April, 2024]

The correct choice of topic for a college research paper directly affects its success, which entails searching for the required literary sources for a comprehensive study of the issue raised in the relevant field of knowledge. Let’s find out how to choose an engaging topic the easy way.

Why is it so important to choose the right topic for your college research paper?

• The ability to conduct full-fledged research activities in the chosen direction (collecting the required information, reading literary sources, studying articles of foreign scientists, etc.). If the topic is of no interest, work will progress slowly and ineffectively.
• Creation of full-fledged, constructive relations with the supervisor of the research paper (timely attendance of consultations, effective interaction with a teacher, constructive discussion of the stages of writing done, etc.).
• A high-quality foundation before writing the research paper corresponding to the student’s specialty.
• Getting a good grade when defending your research paper, or getting term papers for sale .

Where to start choosing a good topic?

– Timely selection of a supervisor in the topic of a research paper. – Declare your topic (before the list of approved topics appears) or independently choose from the list compiled by your school. – Study the information sources suggested by the supervisor. – After consulting with the supervisor, draw up a rough list of references. – Draw up a schedule for organizing work with notes. – Design a template and approve the calendar plan with the supervisor (a necessary addition to the research paper).

Main topic selection criteria

When choosing a research paper topic, the author is guided by five easy criteria: personal interest, relevance, scientific novelty of the research, presence/absence of controversial positions on the issue under consideration, lack of proof of the theorem’s problematics, and creation of a new methodology.

• Personal interest. The student has the right to independently choose a topic that corresponds to the school specialty and is interesting for him or her.
• Relevance of the topic. The modernity, the relevance of the topic, and the significance for modern society are prerequisites when searching for information to create future research.
• Scientific novelty. The author is not recommended to choose a topic that has not been studied enough – the lack of research and literary sources will negatively affect the disclosure of the issues under consideration.
• Polemics on the issue. The presence of opposing points of view on the problem under consideration is a good option for creating a research paper.
• Failure to prove a scientific theorem. When choosing a topic, the author is recommended to use materials previously considered in the scientific industry, unproven ones due to lack of validity, objective argumentation, etc.
• Consideration/creation of a new methodology . In this case, the author decides whether to consider a previously studied issue, applying to it independently developed new methods in accordance with the formulated research methodology.

Best research paper topics in October 2023

• The reasons for the Israeli-Palestinian conflict and its development in 2023.
• Possible scenarios for ending the war between Russia and Ukraine.
• War refugees and the possible crisis in Europe.
• Racial disparities in criminal justice: examining bias, policing, and sentencing.
• The future of artificial intelligence: ethical concerns, regulation, and societal implications.
• Global water scarcity: causes, effects, and strategies for sustainable management.
• Cryptocurrencies and blockchain technology: economic implications and regulatory challenges.
• AI in healthcare: diagnosis, treatment, and ethical considerations in the age of automation.
• Climate-induced migration: environmental refugees, policy responses, and human rights.
• Renewable transportation: electric vehicles, sustainable infrastructure, and decarbonization.

Science research paper topics

• Steps for developing a COVID-19 vaccine.
• Microbial factories as an answer to the shortage of raw metals.
• Importance of solar system exploration.
• The best way to use carbon dioxide.
• The release of “killer” mosquitoes to fight disease.
• The usage of microelectronics to help people with chronic ailments.
• The least harmful fertilizer to the environment.
• The ethical aspect of stem cell research.
• The usage of robots to help kill invasive species.
• Development of technologies to heal people who are paralyzed.

Health research paper topics

• Epidemiology of headaches of schoolchildren.
• Influence of broncholytic drugs on the state of vegetative homeostasis in children with bronchial asthma.
• Modern aspects of psoriasis etiology.
• Method of multiparametric analysis of heart rate variability in ischemic disease.
• The influence of combined anesthesia on the synchronization of electrocardiogram and photoplethismogram in minor gynecological surgery.
• Genetic aspects of early diagnostics of diabetic retinopathy.
• Diagnostics of the parameters of psychological stability in the context of interaction with sources of obtaining information.
• The role of ultrasound and other imaging diagnostic methods in detecting inflammatory intestinal diseases in children.
• Dynamics of prevalence of respiratory allergic diseases in the USA.
• Health monitoring of children in the USA.

Human research paper topics

• Physical abilities of a person and their importance in human existence.
• Types of jogging and their impact on human health.
• Psychological aspects of optimization of human working movements.
• Ergonomic requirements for information display facilities.
• Characteristics of the “human-machine” system.
• Psychological characteristics of the activities of a high-school teacher.
• Ways to build self-esteem.
• The image of a modern positive hero. Who is a strong human?
• The influence of internal conflict on human behavior.
• Human behavior in difficult situations.

Management research paper topics

• Models for the implementation of the organization’s development strategy.
• Methods for the accumulation and development of the strategic potential of organizations.
• Methods for assessing the strategic potential of organizations.
• Diagnostics and assessment of the level of strategic development of the organization.
• Development of methods for the development and implementation of the organization’s strategy.
• Research of an integrative approach to the development and implementation of an organization’s strategy.
• Development of methods and means of strategic management.
• Strategic planning for the development of an organization based on a systematic approach to the implementation of scientific and technical developments.
• Methodology for developing a strategic plan for promoting a new product to the market.
• Models for the formation of strategies and tactics for bringing a new product to the market.

Biology research paper topics

• Determination of the presence of lactic acid bacteria in fresh and stale milk.
• Running safety as the foundation for successful training.
• Are potato chips good or bad for your health?
• The effect of synthetic and natural antibiotics on living organisms.
• House dust research.
• Milk is the elixir of health.
• Biogas plants.
• The importance of water for human health.
• Development of a system for saving tap water in a school environment.
• Effect of hydrogel on plant growth.

Criminal research paper topics

• Social conditionality of establishing criminal liability for concealment of a crime.
• Violence against children: problems of criminal responsibility.
• Crimes against peace.
• The document and its functions in the system of criminal protection of public relations.
• Evaluative concepts: methodological aspects of research and application in criminal law.
• Grounds for the postponement of the execution of the sentence.
• Crime: methodological aspects of research and reflection in criminal law.
• Social conditionality of criminal law protection of adoption.
• Officials as special subjects of crime.
• Stages of committing a crime under the criminal law of the USA and England: a comparative legal aspect.

Computer science research paper topics

• Design and development of an electronic document management system.
• Development of an automated system for recording the movement of off-budget funds in a budgetary organization.
• Application of GRID-technologies in simulation modeling.
• Analysis of maintenance of an average performance of the computing center.
• Architecture of hardware and software for distributed information processing for intranet technology.
• The interaction of the main parts of the computer during the execution of a program.
• Choice of the logical structure of the processor.
• Protection of information in the global network.
• Internet in cultural communication.
• Encoder for entering information from the keyboard.

Nursing research paper topics

• Breastfeeding.
• Analysis of the incidence of chickenpox in different age periods.
• Analysis of road traffic injuries. The role of a paramedic at the prehospital stage.
• Consulting parents on the issues of immunization of childhood infections.
• Training of self-control in hypertension.
• Clinical analysis of pain syndrome in patients with pancreatitis and its dynamics during treatment.
• Self-care training while having diabetes mellitus.
• Medical support of the educational process at school.
• Features of nursing care for patients in a hospital.
• Educating the population on rational and dietary nutrition.

Accounting research paper topics

• The concept of accounting for target costs as a direction for the development of modern accounting management.
• Special accounting objects requiring the use of new calculation methods: business processes, production stages, inventories, life cycle of products, and services.
• Components of reciprocity and differences in the formulation of accounting subsystems (financial and management) and the problems of overcoming them.
• Subject areas of financial and management accounting, and the degree of coincidence of the features of their objects within a particular organization.
• The points of contact of two accounting subsystems: assets, income, costs, business processes, capital, liabilities, production units, and products.
• Accounting principles of disclosure of reporting indicators.
• Problems of balance sheet development as the main form of accounting.
• Innovations in the information content of off-balance sheet items in the annual financial statements.
• Feasibility and possibilities of disclosing information in the notes to the annual financial statements.
• Social reporting as a phenomenon in accounting.

Ethics research paper topics

• Management ethics in law enforcement.
• Principles of ethical living: nihilism.
• Professional ethics of a lawyer.
• Judicial ethics.
• Ethical norms of speech culture.
• Basic rules of business ethics.
• Ethnic ethics of Algeria.
• Ethical and legal problems of genetics.
• Ethics of phone business communication.
• Ethical views of Socrates and Plato.

Political research paper topics

• Psychological mechanisms of political communication.
• Psychological and political stability of society.
• The structure of a campaign to promote a political party or individual politician.
• The nature of work in politics.
• Political mimicry.
• Psychological and political qualities of the leader of a political movement.
• The psychology of political terrorism.
• Political deception.
• Political consciousness, self-awareness, self-knowledge.
• Political attitudes and stereotypes.

Marketing research paper topics

• Marketing in the healthcare industry: overcoming characteristic features and following trends.
• The relationship between cultural indicators and attitudes toward ads.
• Retro design and nostalgic marketing: influence of nostalgic trends in consumer behavior.
• The peculiarities of sporting event marketing and promotion of tourist destinations.
• The impact of religious traditions on tourism marketing and its commodification .
• Peculiarities of marketing strategies and market analysis in the video game industry.
• Analysis of characteristics the content should have to help advertisements go viral.
•  Marketing analysis of the intelligence property market and its peculiarities.
• Using symbols as a marketing tool in the example of Starbucks.
• Quantitative research of consumer attitude toward food product advertising.

International business research paper topics

• How do US corporations like Microsoft cheat with tax and profits?
• What challenges has Netflix faced during the launch in India? What strategies does Netflix implement in developing markets?
• What distinctive characteristics does China’s internet have compared to the US?
• What problems does Uber face? What should be done to avoid them?
• Why global computing companies like IBM move their centers to India?
• What is Ethereum and how can it be used in business processes?
• What is Baidu? Describe what products it does and what perspectives it has.
• How can MME (Multi-National Enterprises) and global institutions contribute to global sustainability in the fishing industry?
• What is the financial state of TATA Motors? What are the perspectives?
• What retail assortment management strategies does Amazon implement?

Find more international business research paper topics .

Economics research paper topics

• What are the principles of monopoly power? What are functioning and regulation problems of a monopoly?
• Should the Adani Carmichael mine be supported? Describe the situation and possible solutions.
• What were the main causes of the Asian currency crisis in Thailand, Malaysia, Indonesia, Philippines, and Korea?
• Describe Sino-Pakistani cooperation and the history of rapprochement of relations between Pakistan and India.
• What is intelligence-led policing (ILP)? What strengths and weaknesses have been identified with this model of policing?
• What influence does the federal reserve system have on the US economy?
• Competitive risk assessment and the estimated target market.
• Economic issue of importance in food policy. How can food policy prevent world hunger?
• Discuss the role of the WTO in freeing the world trade during the past 10 years.
• Should the government classify Bitcoin as a legal currency?

Medical research paper topics

• How does over-attention relate to obsessive–compulsive personality disorder (OCPD)? What is the exact behavior of over-attention?
• Does proper nutrition and dieting influence the development of dementia?
• How can children’s drawings help with the diagnosis of psychological and somatic disorders?
• How does epidemiological monitoring influence the changing approaches in asthma treatment?
• How to evaluate risk factors of osteoarthritis and prescribe contemporary therapy?
• How to handle pain among newborns? How to prevent pain or minimize the level of a newborn’s discomfort?
• What are characteristics of viral and alcoholic cirrhosis? What differences are in disease management?
• What treatment is the most effective for blunt chest trauma care in acute nursing?
• What treatment should be chosen for managing patients with HPV in the reproductive age?
• What therapy should be chosen for functional disorders of digestion in children?

History research paper topics

• Why did Italian cities turn to minting gold in the thirteenth century?
• What was the background and consequences of the Battle of Jerusalem 1917?
• How did the American Revolution influence women’s rights?
• What was the significance of chivarlic code and how did it work?
• What was the most important figure in the history of Christianity?
• Ancient traditions of the Amazon: territorial and religious aspects.
• Is it helpful to describe the Agora in Athens as a ‘zone of competitive reciprocity’?
•  Analyze etymology resources of a word’s history and stories.
• Discuss conventional theories and causes of the Great War.
• How did Japan’s food culture transform through the centuries?

IT and technology research paper topics

• What is net neutrality and where can it lead to?
• What technological innovations are developed in mechanical engineering?
• How to protect automotive software of smart cars from cyber attacks?
• What does “NextGen” mean for business aviation?
• What are solutions in the current problem of the mobile payment systems in Walmart?
• How can automation and smart service improve HR services?
• Describe the Big Data technologies and their opportunities on the market.
• What strategies are implemented for sharing intellectual property?
• What are the prospects of online privacy security? Can it be real?
• What opportunities does a virtual reality business have?

Business research paper topics

• How to build trust and bid for a price in negotiations?
• Do bonuses boost the effectiveness of sales?
• Does gender diversity enhance the financial success of the company?
• How should competitors of the same industry collaborate and why?
• Should the companies create the new product or first announce the idea to consumers and analyze their reaction?
• What are the effects of inaccessibility to a company’s mobile application?
• How can inviting millennials to management positions help the business?
• What helps some companies stand out during negative macro shocks?
• How do consumers conclude that certain goods are worth their prices?
• Which strategy saved IBM from insolvency?

Find more business topics for research paper .

Art history research paper topics

• How was the human body represented in the works of the epoch of the Renaissance?
• What was the function of Egyptian art? Why were people not supposed to see it?
• What were the specifics of depicting scenes from the life of Christ in medieval Europe?
• What are common types of mosque architecture?
• Why was futurism the most politicized movement in the 20th century?
• What similar characteristics do paintings of the time of the French Revolution and ancient Greek art have and why?
• How have Impressionists changed the hierarchy of subject matter in art?
• What significant changes did Andy Warhol bring to the advertising industry through his art?
• What is the historical significance of “The Death of General Wolfe” – the painting by Benjamin West?
• How did Francis Bacon and the scientific revolution influence art?

Check out more art history research paper topics .

Psychology research paper topics

• How should parents identify the gender of children with ambiguous genitalia?
• What similar traits do prematurely born children have?
• Do children benefit from growing up in nuclear families?
• Are crying and maltreatment connected for children?
• To what extent should law regulate family affairs?
• Does the person who relates to several groups have many selves?
• Psychological effects of child molestation that can cause problems in personal relationships.
• Should parents ban children from playing with toys “out of their gender?”
• Are there differences in psychological needs of people who cause themselves suicidal and non-suicidal harm?
• How does same-sex parenting affect children?

Sociology research paper topics

• Can movies change the value systems of people?
• How can commercialization of organ transplants affect the amount of people saved due to transplantation?
•  Do backup cameras set up on a car invade people’s privacy?
• Can Islamophobia be considered as religious discrimination?
• Are US driving laws more driver or pedestrian oriented?
• What sphere negatively influences democratic journalism more significantly – politics or business?
• How to protect informational safety in the era of social media?
• Should the government provide homeless children with education?
• What is the impact of overcrowded prisons on American society?
• Should Facebook be censored?

Literature research paper topics

•  How has the role of the dream changed from Alice in Wonderland to Through the Looking-Glass ?
• Through which characters and how is the theme of alienation from society revealed in Crime and Punishment ?
• Does Jane Austen criticize women’s views on marriage of her era in Pride and Prejudice ?
• How is the theme of superiority of youth and beauty depicted in The Picture of Dorian Gray ?
• Why can’t Claude Frollo be considered a typical antihero in The Hunchback of Notre Dame ?
• How is the theme of animal instinct depicted in All Quiet on the Western Front ?
• How does the setting influence the perception of the story in The Great Gatsby ?
• Which literary works are referred to in Fahrenheit 451 and why?
• What role does size play in Swift’s Gulliver’s Travels ? What does the size symbolize?
• What does Mama’s plant symbolyze and how does this symbol develop throughout the novel A Raisin in the Sun ?
• English literature of the Early Middle Ages.
• Anna Seghers. The anti-fascist orientation of her works.
• Ballad as a genre of English poetry.
• Vertical context in Thomas Mann’s novels.
• The female image in the novel “Indiana” by Amantine Aurore Dupin.
• Concept and composition of Ovid’s “Metamorphoses.”
• Small genres of lyrics.
• Late Goethe and the problem of romanticism.

Drugs and drug abuse research paper topics

• Is Marijuana a “gateway” or a “stepping stone” drug?
• Pathways to the disease and pathophysiological perspectives of heroin addiction.
• Prevention of substance abuse and addictions through counseling at-risk youth.
• Alcohol and drug abuse among homeless and runaway adolescents.
• Treatment research of addiction and substance abuse.
• Principles of drug abuse treatment for the criminal justice system.
• Prevention of prescription drug overdose and abuse.
• Substance abuse rates and treatment within LGTB communities.
• Side effects of principal doping substances.
• Pros and cons of drug testing among college students.

Education research paper topics

• The effect of computers on students’ performance.
• Aspects and main principles of adolescent psychology.
• The role of prayer in schools and colleges.
• Social effects of teenage team sports in public schools.
• Psychological aspects of bullying in schools in the US.
• Future of digital learning at educational institutions.
• Using cognitive psychology in the learning process.
• Dynamic aspects of teenage friendships and educational attainment.
• Effects of standardized testing on the learning process.
• Pros and cons of home schooling compared to attending public schools (look through the whole research paper example ).

Sports research paper topics

• The ways to reduce fan aggression that is enhanced by media.
•  Cheerleading should be banned for girls and boys aged under 18 for excessive sexualization of this type of sport.
• The appropriateness of women coaching men’s teams and vice versa.
• Sport betting should be prohibited as gambling.
• The role of sports in overcoming posttraumatic syndrome.
• The effect of age on the performance of athletes.
• The influence of athletes’ sexual orientation on their image and reputation.
• The most cruel kinds of sports that should be prohibited.
• The reasons why chess should be considered a sport.
• Factors which influence the difference in female and male salaries in sports.

Picking research paper topics advice

So, you have realized that you are ready to write your research paper. It’s obvious that before you start writing, you should pick the right topic and research paper type . Perhaps you have one or several cool research paper ideas, but are you sure that you will be able to write a good paper?

Before you will be ready to pick one from research topics, you should answer the following questions:

• Is there an issue that you are really interested in?
• Have you heard something controversial or curious in articles and mass media about the topic?
• Do you have enough information to make research?
• Does the topic meet your further research plans?

In any case, the best assistants when writing research papers are only reputable sources like libraries, open access journals, encyclopedias, reliable news, and academic sources. Various materials that you can find on the internet should help you choose a topic, so don’t skip any chance to get more ideas.

Make the most to find more research paper topics from which you can choose the most suitable for you. To pick the right topic, think twice! Make sure that it will be interesting both for you and your audience. Get benefits of our list to succeed in studies.

And keep mind, you can always pay for research paper to EssayShark and get a high quality paper example.

47 thoughts on “ Outstanding Research Paper Topics to Get Your Writing Started ”

Nice things for graduate students

Good list of ideas!!! Thnks

Wow! So simple topics – will cope with them for sur

can you help me with university research paper on philosophy?

Sure! Just specify all of your requirements in our order form here https://essayshark.com/ and choose a suitable writer.

I’m hesitating about what political paper topic to choose. You don’t have any in this post. Can you help me with that?

You may be interested in any of these topics: social movements, totalitarianism, civil society, civil wars, ethnic conflicts or electoral systems.

I have a research paper due Monday and I urgently need a topic! Someone give me some great research topics for environmental problems

Hi, Olivia. Here are some suggestions you can develop in your paper: wind generated energy in Minnesota, Lake Superior ecosystem, Saint Louis River Eurasian ruffe, Lake Superior’s shoreline protection, the impact ofdams on the environment, mining, intensive farming.

Periodically I go to this site because I want find some fresh research topics for my papers. Now I’m most excited about literature paper topic.

Amazing topic for my college paper!

Hey there! Can you give me some good paper topics for education paper? I need to write my paper very soon

Hi! You can choose one of the topics from our post, or ask any of our writers to help you with it – https://essayshark.com/

I am a student of the 7th grade need cool things to research in science.

Where to get easy topic ideas for high school? I got sooooooooo little time left.

Hi, Ben. You can grab some here – https://essayshark.com/blog/high-school-research-paper-topics-you-shouldnt-pass-by/

this post helped me to find a topic for my business paper. Thanks!

What research paper topics I need to pick for my project in marketing? I’m wondering if it any from the list suitable for seniors?

What research topics I choose for 10 page paper? I am a senior college student

Hi! You can check out this post https://essayshark.com/blog/research-paper-topics-for-college-students/ to find suitable topics of any difficulty level.

I’m interested in your marketing research topics, but I’m not sure I can write a paper on any of those your have mentioned

Try to write it yourself, if it won’t work you can always rely on our writers – https://essayshark.com/ .

need to find interesting research topics for history classes can’t decide what choose. I am in 8th grade btw

You can find them in the 5-th chapter of our article.

need help choosing my topic for my research paper in my class, american history SOMEONE HELP PLZ

Hello! Thanks for the question. You may be interested in such issues: Gold Rush, mormons, Dred Scott decision, Haymarket Riot, Black Box scandal, Yellow journalism, women’s rights, cotton gin.

Superb topic ideas for research for students. ‘Social effects of teenage team sports in public schools’ – taken. Thnks

Having one day to submit my science paper.. don’t even started. HELP ASAP!

Fill in the order form here https://essayshark.com/ , specify all your requirements and your paper will be completed within deadline.

This list is gorgeous I have used it for speeches and writing when I had no idea with topics to write about.

Next time I do an uncommon research paper maybe I should do some RESEARCH before I choose a topic just a suggestion) thanks anyway for your topics.

I’m a high-school student and these paper topics at my fingertips is a blessing!

Wow!! That is the first site where I find really cool research topics.

Historical paper topics are great! I am going to use a couple of them in this semester

Took the topic for my persuasive essay “Should parents ban children from playing with toys “out of their gender? ”Hope it’s enough to write 5 pages on it, isn’t it?

Yes, if you need to write a 5-page essay this research paper topic would be perfect! Good luck with your paper

Hello. Do you have more topics for business? I need a writer who can research a topic online and write an engaging 500 words research paper.

Hello Christopher. You can find more business research paper topics here – https://essayshark.com/blog/business-research-paper-topics/ or get help from one of our writers here – https://essayshark.com .

Omg I actually got an assignment that says to pick a topic on your own, but with this examples of research paper topics makes me feel like a kid in a candy store!

how can i get help with my assignment?

Hi Nick! You should fill in the order form here – https://essayshark.com/ and specify all of your requirements. Good luck!

Thank you for these research paper topics. Started to write a marketing paper … Maybe I’ll finish it at last.

Guys, thanks for awesome questions on literature

Got one for my history class!

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134 Economics Thesis Topics: Ideas for Outstanding Writing

Writing a thesis is not an easy task. For most of the students, it can be even intimidating, especially when you do not know where to start your research.

Here, we have provided an economics thesis topics list. After all, everyone knows that choosing the right idea is crucial when writing an academic paper. In economics, it can combine history, math, social studies, politics, and numerous other subjects. You should also have solid foundations and a sound factual basis for a thesis. Without these elements, you won’t be able to master your research paper.

The issue is:

It is not always clear what could be seen as an excellent economics thesis topic. Our experts can assist you with this challenge. This list contains some outstanding examples to get you started.

• ⭐ Thesis in Economics
• 🔥 Supreme Thesis Topics
• 👍 Bachelor’s Thesis
• 😲 Master’s Thesis

📊 Microeconomics

📈 macroeconomics.

• 🤔 Developmental
• 👨‍💼 Behavioral
• 💼 Financial
• 🌱 Agricultural
• 🤝‍ Sociology
• 📚 Ph.D. Topics
• 📝 How to Pick a Topic

⭐ What Does a Thesis in Economics Look Like?

A good thesis in economics is a blend between an empirical paper and a theoretical one. One of the essential steps in choosing a topic in economics is to decide which one you will write.

You may write, research, analyze statistical data and other information. Or build and study a specific economic model.

Or why not both!

Here are some questions you can ask when deciding what topic to choose:

• What has already been written on this topic?
• What economic variables will my paper study?
• Where should I look for the data?
• What econometrics techniques should I use?
• What type of model will I study?

The best way to understand what type of research you have to do is to write a thesis proposal. You will most probably be required to submit it anyway. Your thesis supervisor will examine your ideas, methods, list of secondary and primary sources. At some universities, the proposal will be graded.

After you get the initial feedback, you will have a clear idea of what to adjust before writing your thesis. Only then, you’ll be able to start.

🔥 Supreme Economics Thesis Topics List

• Fast fashion in India.
• The UK housing prices.
• Brexit and European trade.
• Behavioral economics.
• Healthcare macroeconomics.
• COVID-19’s economic impact.
• Global gender wage gap.
• Commodity dependence in Africa.
• International trade – developing countries.
• Climate change and business development.

👍 Economics Bachelor’s Thesis Topics

At the U.S. Universities, an undergraduate thesis is very uncommon. However, it depends on the Department Policy.

The biggest challenge with the Bachelor’s Thesis in economics concerns its originality. Even though you are not required to conduct entirely unique research, you have to lack redundant ideas.

You can easily avoid making this mistake by simply choosing one of these topics. Also, consider visiting IvyPanda essays database. It’s a perfect palce to conduct a brainstorming session and come up with fresh ideas for a paper, as well as get tons of inspiration.

• The impact of the oil industry on the economic development of Nigeria. The oil industry is vital for the economic development of Nigeria. In this thesis, students can discuss the notion of the resource curse. Analyze the reasons why general people are not benefiting from the oil industry. Why did it produce very little change in the social and economic growth of the country?
• Sports Marketing and Advertising: the impact it has on the consumers.
• Economic opportunities and challenges of investing in Kenya .
• Economic Development in the Tourism Industry in Africa. Since the early 1990s, tourism significantly contributed to the economic growth of African countries. In this thesis, students can talk about the characteristics of the tourist sector in Africa. Or elaborate on specific countries and how their national development plans look like.
• Globalization and its significance to business worldwide .
• Economic risks connected to investing in Turkey .
• The decline in employment rates as the biggest American economy challenge .
• The economics of alcohol abuse problems. In this thesis, students can develop several essential issues. First, they can examine how poverty is connected to alcohol abuse. Second, they can see the link between alcohol consumption and productivity. To sum up, students can elaborate on the economic costs of alcohol abuse.
• Causes and solutions for unemployment in Great Britain.
• Parallel perspective on Global Economic Order: China and America. This thesis can bring a comparative analysis of the economies to a new level. China and The US are the world’s two largest economies. These two countries have a significant impact on the global economic order. So, looking at the set of institutions, policies, rules can be constructive.
• The new international economic order after COVID-19
• Financial stability of the banking sector in China.
• New Electronic Payment Services in Russia.
• The influence of culture on different entrepreneurial behaviors.
• The impact of natural cultural practices on entrepreneurial activity.
• The relationships between national culture and individual behavior.
• The main reasons for salary inequalities in different parts of the U.S.

😲 Economics Master’s Thesis Topics

Student life can be fascinating, but it comes with its challenges. One of which is selecting your Master’s thesis topic.

Here is a list of topics for a Master’s thesis in economics. Are you pursuing MPhil in Economics and writing a thesis? Use the following ideas as an inspiration for that. They can also be helpful if you are working on a Master’s thesis in financial economics.

• The impact of visual aid in teaching home economics.
• The effect of income changes in consumer behaviors in America.
• Forces behind socio-economic inequalities in the United States. This thesis can explore three critical factors for socio-economic differences in the United States. In the past 30 years, social disparities increased in the United States. Some of the main reasons are technology, trade, and institutions.
• The relationships between economic growth and international development.
• Technological innovations and their influence on green and environmental products.
• The economics of non-solar renewable energy .

• The economic consequences of terrorism . Terrorism not only takes away lives and destroys property but also widely affects the economy. It creates uncertainty in the market, increases insurance claims, slows down investment projects, and tourism. This thesis can address all of the ways in which terrorism can affect economies.
• Corporate Social Responsibility (CSR) implementation in the Oil and Gas Industry in Africa.
• Use of incentives in behavioral economics.
• Economic opportunities and challenges of sustainable communities .
• Economics of nuclear power plants.
• Aid and financial help for emerging markets. This topic is very versatile. Students can look at both the positive and the adverse effects that funding has on the development. There are plenty of excellent examples. Besides, some theories call international help a form of neocolonialism.
• Multinational firms impact on economic growth in America .
• The effect of natural disasters on economic development in Asia.
• The influence of globalization on emerging markets and economic development.

📑 More Economics Thesis Topics: Theme

For some students, it makes more sense to center their search around a certain subject. Sometimes you have an econ area that interests you. You may have an idea about what you want to write, but you did not decide what it will be.

If that’s the case with you, then these economics thesis topics ideas are for you.

• An analysis of the energy market in Russia.
• The impact of game theory on economic development.
• The connection between minimum wage and market equilibrium.
• Gender differences in the labor market in the United States. This topic can shed light on gender differences in the labor market in the United States. In the past years, the overall inequality in labor in the markets decreased. However, there is still a lot of work that can be done.
• Economic reasons that influence the prices of oil .
• Relationship between the Lorenz curve and the Gini coefficient.
• Challenges of small businesses in the market economy.
• The changes in oil prices: causes and solutions . Universal economic principles do not always apply to the sale and purchase of the oil. The same happens with its cost. In the thesis, talk about what affects the prices. What are the solutions that can be implemented?
• The economic analysis of the impact of immigration on the American economy.

• Economic inequality as a result of globalization . Economic inequality becomes even more apparent on the global level. There is a common belief that globalization is the cause of that. Discuss what can be the solutions to these problems. This topic is vital to minimize the gap between the rich and the poor.
• The economic explanation of political dishonesty .
• Effect of Increasing Interest rates costs in Africa .
• The connection between game theory and microeconomics.
• Marketing uses in microeconomics.
• Financial liability in human-made environmental disasters.
• Banks and their role in the economy. Banks are crucial elements of any economy, and this topic covers why. You can explain how banks allow the goods and services to be exchanged. Talk about why banks are so essential for economic growth and stability.
• Inflation in the US and ways to reduce its impact.
• The connection between politics and economics.
• Income Dynamics and demographic economics.
• US Market Liquidity and macroeconomics.
• Macroeconomics and self-correction of the economy .
• The American economy, monetary policy, and monopolies .
• The importance of control in macroeconomics. One of the central topics in macroeconomics is grouped around the issue of control. It is quite reasonable that control over money and resources should become a topic of discussion.
• Analysis of Africa’s macroeconomics and its performance.
• Economics of education in developing markets.
• Problems and possible solutions for Japan macroeconomics .
• Comparative analysis of British macroeconomics concerning the US .
• Public policies and socio-economic disparities.
• The world problems through macroeconomic analysis. Indeed, macroeconomics is very complicated. There are many influences, details, and intricacies in it. However, it allows economists to use this complex set of tools to examine the world’s leading problems today.

• The connection between employment interest and money.

🤔 Development Economics

• Economics of development . This topic is very rich in content. First, explain what it is. Then pay particular attention to domestic and international policies that affect development, income distribution, and economic growth.
• The relation between development and incentive for migration.
• The impact of natural disasters on the economy and political stability of emerging markets.
• The economic consequences of population growth in developing countries.
• The role of industrialization in developing countries . The industrialization has been connected with the development. It promotes capital formation and catalyzes economic growth in emerging markets. In this thesis, you can talk about this correlation.
• Latin American economic development.
• Gender inequality and socio-economic development .
• Problems of tax and taxation in connection with economic growth.
• The economic impact of terrorism on developing markets.
• Religious decline as a key to economic development. Not everyone knows, but a lot of research has been done in the past years on the topic. It argues that decreased religious activity is connected with increased economic growth. This topic is quite controversial. Students who decide to write about it should be extra careful and polite.

👨‍💼 Behavioral Economics

• Risk Preferences in Rural South Africa.
• Behavioral Economics and Finance .
• Applied behavioral economics in marketing strategies. If you want to focus your attention on marketing, this topic is for you. Behavioral economics provides a peculiar lens to look at marketing strategies. It allows marketers to identify common behaviors and adapt their marketing strategies.
• The impact of behavioral finance on investment decisions.
• Behavioral Economics in Child Nutrition Programs in North Texas.
• Guidelines for Behavioral Economics in Healthcare Sector.
• Cognitive and behavioral theories in economics .
• Cross-cultural consumer behavior and marketing communication. Consumers are not only affected by personal characteristics, but also by the culture they are living in. This topic focuses on the extent it should determine marketing strategy and communication.
• Behavior implications of wealth and inequality.

• Optimism and pessimism for future behavior.

💼 Financial Economics

• Financial Economics for Infrastructure and Fiscal Policy .
• The use of the economic concept of human capital. Students can focus on the dichotomy between human and nonhuman capital. Many economists believe that human capital is the most crucial of all. Some approach this issue differently. Therefore, students should do their research and find where they stand on this issue.
• The analysis of the global financial crisis of 2020s. Share your thoughts, predictions, ideas. Analyze the economic situation that affects almost everyone in the world. This thesis topic will be fresh and original. It can help to start a good and fruitful conversation.
• The big data economic challenges for Volvo car.
• The connection between finance, economics, and accounting.
• Financial economics: Banks competition in the UK .
• Risk-Taking by mutual funds as a response to incentives.
• Managerial economics and financial accounting as a basis for business decisions.
• Stock market overreaction.

🌱 Agricultural Economics

• Agricultural economics and agribusiness.
• The vulnerability of agricultural business in African countries.
• Agricultural economics and environmental considerations of biofuels .
• Farmer’s contribution to agricultural social capital.
• Agricultural and resource economics. Agricultural and resource economics plays a huge role in development. They are subdivided into four main characteristics which in this topic, students can talk about: – mineral and energy resources; – soil resources, water resources; – biological resources. One or even all of them can be a focus of the thesis.
• Water as an economic good in irrigated agriculture.
• Agriculture in the economic development of Iran.
• The US Agricultural Food Policy and Production .
• Pesticides usage on agricultural products in California.

• An analysis of economic efficiency in agriculture. A lot of research has been done on the question of economic efficiency in agriculture. However, it does not mean there is no place for your study. You have to read a lot of secondary sources to see where your arguments can fit.

🤝‍Economic Sociology

• Theory, approach, and method in economics sociology.
• Economic sociology of capitalism. While economists believe in the positive effect capitalism has on the economy, the social effect is quite different. The “economic” part of the issue has been studied a lot. However, the sociology of it has been not. This thesis can be very intriguing to read.
• Political Economy and Economic Sociology.
• Gender and economic sociology .
• Progress, sociology, and economics.
• Data analysis in economics, sociology, environment .
• Economic sociology as a way to understand the human mind.
• Economic sociology of money.
• Economics, sociology, and psychology of security.
• Major principles of economic sociology. In the past decade, economic sociology became an increasingly popular field. Mainly due to it giving a new view on economics, human mind, and behavior. Besides, it explores relationships between politics, law, culture, and gender.

📚 The List of Ph.D. Topics in Economics

If you decide to go to grad school to do your Masters, you will likely end up getting a Ph.D. as well. So, with this plan in mind, think about a field that interests you enough during your Masters. Working with the same topic for both graduate degrees is easier and more effective.

This list of Ph.D. Topics in Economics can help you identify the areas you can work on.

• Occupational injuries in Pakistan and its effect on the economy. Injuries are the leading cause of the global burden of disability. Globally, Pakistan was ranked 9th populated country with a large number of unskilled workers. In this dissertation, consider the link between occupational injuries and their effects on the economy.
• The study of the Philippines’ economic development.

• Financial derivatives and climate change .
• Econometric Analysis of Financial Markets.
• Islamic Banking and Financial Markets .
• Health economics and policy in the UK.
• Health insurance: rationale and economic justification. In this dissertation, students can find different ways to explain and justify health insurance. Starting to philosophical to purely economic grounds. In the past years, there was a lot of discussion regarding the healthcare system for all. What are some of the economic benefits of that?
• Colombian economy, economic growth, and inequality.
• Benefits of mergers and acquisitions in agribusiness.
• Methods to measure financial risks when investing in Africa.
• The significance of financial economics in understanding the relationship between a country’s GDP and NDP.
• Network effects in cryptocurrency. Cryptocurrencies are not new anymore. However, it is still an original subject for a dissertation. Students can decide to choose several crypto coins and evaluate the importance of the network effect. This effect is particularly significant for Bitcoin. Explain why.
• The comparison of the Chinese growth model with the American growth model.
• An economic justification versus political expediency.
• Pollution Externalities Role in Management Economics .

📝 How to Select an Economics Thesis Topic

As your academic journey is coming to an end, it’s time to pick the right topic for your thesis. The whole academic life you were preparing to undertake this challenge.

Here is the list of six points that will help you to select an economics thesis topic:

• Make sure it is something you are genuinely interested in. It is incredibly challenging to write something engaging if you are not interested in the topic. So, choose wisely and chose what excites you.
• Draw inspiration from the previous student’s projects. A great place to start is by looking at what the previous students wrote. You can find some fresh ideas and a general direction.
• Ask your thesis advisor for his feedback. Most probably, your thesis advisor supervised many students before. They can be a great help too because they know how to assess papers. Before meeting with your professor, do some basic research, and understand what topic is about.
• Be original, but not too much. You do not want to spend your time writing about a project that many people wrote about. Your readers will not be interested in reading it, but your professors as well. However, make sure you do not pick anything too obscure. It will leave you with no secondary sources.
• Choose a narrow and specific topic. Not only will it allow you to be more original, but also to master a topic. When the issue is too broad, there is just too much information to cover in one thesis.
• Go interdisciplinary. If you find yourself interested in history, philosophy, or any other related topic, it can help you write an exceptional thesis in economics. Most of your peers may work on pure economics. Then, the interdisciplinary approach can help you to stand out among them.

Thank you for reading the article to the end! We hope this list of economics thesis topics ideas could help you to gather your thoughts and get inspired. Share it with those who may find it useful. Let us know what you think about it in the comment section below.

🔗 References

• Economics Thesis Topics List: Seminars Only
• How To Pick A Topic For Your Economics Research Project Or Master’s Thesis: INOMICS, The Site for Economists
• What Do Theses and Dissertations Look Like: KU Writing Center, the University of Kansas
• Writing Economics: Robert Neugeboren with Mireille Jacobson, University of Harvard
• Economics Ph.D. Theses: Department of Economics, University of Sussex Business School, IDEAS_RePEc
• World Economic Situation and Prospects 2018: United Nations
• Undergraduate Honors Theses: Department of Economics, University of California, Berkeley
• Economics Department Dissertations Collection: Economics Department, University of Massachusetts Amherst
• Topics for Master Theses: Department of Economics, NHH, Norwegian School of Economics
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The dilemma I faced in getting Thesis proposal for my M Phil programme is taken away. Your article would be a useful guide to many more students.Thank you for your guidance.

Thanks for the feedback, John! Your opinion is very important for us!

I wants it for msc thesis

These are very helpful and concise research topics which I have spent days surfing the internet to get all this while. Thanks for making research life experience easier for me. Keep this good work up.

Thank you, Idris!

Glad to hear that! Thank you for your feedback, Idris!

Excellent research

For research

A very well written, clear and easy-to-read article. It was highly helpful. Thank you!

Thanks for your kind words! We look forward to seeing you again!

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