Many students face a hard time writing on economics due to a lack of exposure and understanding of the topic. Though, some have this ability to perform well. There are many situations when students are given essays on economics because of its highly generic nature. A student is supposed to be ready on this very common topic of essay writing.
Here, we are presenting some of the best tips to write on an economics essay that you must know before penning down to the paper because there is no way out to make silly blunders while writing on the economy. Just like any typical essay writing, economic essays have a similar structure to be followed.
Starting from the introduction, making supportive arguments, you conclude holistically without being biased.
A humble thesis statement is a must. Starting from the very basics of economics, you can define a basic idea behind economics and its importance. Moving on, you have a whole lot of content to talk about, you must take the supporting evidence alongside the general facts and ideas behind economics to make an impressive economic essay.
One should have a comprehensive knowledge about the topic, no compromise on the content you are going the include. You are recommended to get acquainted with essential terminologies used in economics, basic theories and all that. A strong, research-based essay on economics will never be tricky anymore if you get all these things in hand before starting an essay.
Example of an Economic Essay
The Science Of Economics there might be the argument to consider the economy as a science. It is important to ascertain the basic parameters of economics to understand the science of Economics.
Scientific principles are highly systematized and organized based on experiments, practices and observations, finding the caused, effects and relationships between two phenomena, On the other hand, economics is a way to understand wealth circulation and a system by which people deal with financial things. Primary agents that fall under the economic include, market, individuals, household expenditures, industrial manufacturing, firms, buyers and sellers. Economics measures the aggregate production, consumption, distribution of wealth in a country.
If you wish to find to out the science behind economics, we have to take account of the following parameters:
- It must follow the organized structure of laws and principles.
- Which can be verified by the experiments
- you are able to predict the outcome
- It has to be self-supportive
- Universally acceptable and valid.
If these points are followed by economics, then we can simply conclude that economic is a science.
The principles of economics can be scientifically organized. Such as production, exchange, consumption, distribution, and savings. In this manner, economics is studied in a systematic manner.
Economics is like any other scientific law which deals relates to the two phenomena and brings the probable outcomes. In economics, we have a similar example of the law of demand where both make an inverse proportional two each other. Prices are directly dependent on the availability of resources and their need in the market.
Law of economics are applicable thought the world. The foremost example can be diminishing return, marginal utility etc.
The economics principles are self-describing and self-supporting, which is another way to fork it in the category of science.
Just like any other scientific theories, the economics application is further categories into microeconomics, macroeconomics, monetary, public finance, global economics and wealth creation, etc.
Economics may not be considered as true science, but following the above argument, which are truly aligning the top basics of science, we could simply conclude that economics does follow the basic yet essential features to be called science.