Economics learners are taught several variables and elements that affect the economy. This helps the students to apply real-life case scenarios and showcase an understanding of the issues at hand. In this article, we will look at economics paper example.
Economics makes a study of utilization of scarce resources and how to maximize output or profit. The focus on economics lies in some things such as production, consumption, trade, human behavior, politics, war, etc.
The growth of technology also creates great disruption in economic issues. As such, most economics students sometimes have a difficult time when tasked with research for economics. They may be assignments, thesis, and dissertations on economics research.
Writing an economics paper requires structure and creativity. You must be able to answer the question/ thesis of your research. Using the right terminology, evaluation techniques, and diagrams is significant to conclusive economics research.
Writing styles vary from one writer to another. You need to achieve clarity by making the paper non – technical. Here are few guidelines on how to write an economics paper:
Understanding the question to your research or the thesis you need to prove or refute is key to the success of your project. In case you need to come up with your topic, there are several ways to do this.
The first step would be to establish the economics subfield you will be writing on. Make sure you have an interest and can make a contribution to the subfield. You need to pick a topic that will suit the parameters of your assignment (sources you need to use, due date, length, etc.)
Economics papers have two main sources: empirical data and academic literature. Useful secondary sources include academic journals, economics reports, statistical abstracts, and census data.
An outline acts as a guide to what you want to be included in your research paper. It gives structure to your research paper. Here are a few tips on writing an outline for your paper:
Introduction: The introduction should highlight the objectives of writing your economics paper. This part should spark interest in your audience to read the rest of the paper. Pose a suitable thesis statement and fulfill it within the body with proper arguments.
Literature review: Study literature available on your topic. A literature review establishes your knowledge of scholarly work on your topic and lays the groundwork for your paper. It forecasts the concerns you will raise, your position on discussed issues, and the methodology you choose. Your literature review should be guided by referenced scholarly works.
Data/Methods: Formulate a hypothesis and define your data. Formulating hypothesis involves posing a question, theory, or problem. You need to discuss your dataset and the origin of your data to form your hypothesis.
Use visuals to summarize your data. Be sure to mention if you have inconclusive results in your paper on economics.
Results: Present your finding with visual aids (charts and graphs). You should consider how to present your empirical results and how you will describe these results in text.
Discussion: Evaluate your data/methods and mention any policy implications. Make valued judgments by highlighting economic facts and analysis. Refrain from drawing policy conclusions in your paper.
Conclusion: Summarize your findings and pose problems that could be pursued for further research.
Referencing: Research paper referencing mainly depends on the instructions handed over by your instructor. Cite your sources at the end of your paper as your references will have been mentioned in the literature review section.
Templates offer different formats for writing economics papers. Simple steps to easily using a template for your work are:
Economics covers a wide range of issues in society and contains abundant research studies. This could make finding a suitable economics research topic a daunting task. Advances in technology and globalization have also created new research opportunities for economics. The following are suitable topics for a paper in economics:
The research paper example below provides a model of the outcome of economic research. It places focus on the causes, results, and effect on the wealth gap on the economy by the 2007/08 financial crisis.
An Overview of the 2007/2008 Global Financial Crises
The 2007-2008 global financial crises had been an inevitable event in global finance. It had been a result of many years of financial negligence despite warnings from various experts and the fiscal systems around the world.
Cheap credit and sloppy lending standards were offered for so long jeopardizing the financial markets. We will delve into the causes, results, and impacts of the financial crisis.
The financial crises of 2007-2008 brought about capitalism crises and widened the income distribution. In retrospect, the crises resulted in new measures of accountability within finance, especially in the banking and real estate sectors.
The major cause of the financial crises was very low lending rates and slack lending standards. It was intended to improve the economy by availing money to businesses and consumers at reduced rates.
The U.S. economy had experienced a few shocks. The dot-com bubble burst, 9/11 terrorist attack, and several corporate scandals resulted in Federal Reserve lowering federal fund rates.
As a result, homeownership went upwards as borrowers took chance on the low-interest rates. Additionally, subprime borrowers were also able to buy and own homes. This fueled a huge secondary market for originating and issuing subprime loans.
The securities exchange commission then relaxed capital requirements for four big banks in the U.S. adding on to the risk among banks.
The homeownership market reached saturation and by this time interest rates had begun to rise. Homeowners now had homes that were less valuable than what they paid for them.
This means that even if a homeowner would sell their house they would still owe their lender. Mortgage costs were going up while home values were going down. Subprime borrowers were the worst hit as they had mortgages they could not afford.
Subprime lenders on the other hand started to file for bankruptcy as the companies had started to go under.
The financial crises had spread beyond U.S. borders. One of its largest effects was the freezing of the interbank market predominantly due to fear of the unknown.
Coordinated action between Central banks around the world and the Federal Reserve resulted in billions of dollars availed to the global credit markets. Financial institutions had an uphill task of evaluating trillions of dollars, worth of toxic assets recorded in their books.
The U.S economy was hence in a full-blown recession as financial markets around the world tumbled.
Government intervention remedied the situation through bailouts (stock purchases and financial lifelines) of the most hit banks and financial institutions in the U.S. This move did not sit well with the public.
The perception was that banks were being rewarded by the government after creating havoc on the economy. Despite the uproar, government intervention was a good move as the economy got back to track. The government however recouped all its investments with the banks with interest.
Studies and analyses have been made to determine the effect of the financial recession on low-income earners and the wealthy. Conclusions from study make a clear indication of the wealthy earning back all they had lost during the recession.
This is due to the fact that fiscal and monetary policies focused on strengthening markets. Wage growth from low-income earners on the other hand gained very slow traction in remedying the effects of the recession to the low-income population. A growth in disparity between the wealthy and low-income earners is noted.
In conclusion, the 2007-2008 global financial crises were a result of an oversight in lending standards. This caused the bubble in homeownership to burst leading banks and financial institutions with devalued assets in their records.
Government bailouts helped the economy to regain its footing. Both the wealthy and poor were affected by the recession. The wealth gap has however increased with a recovery of the global economy.
Term papers are written by students at the end of semester to test their knowledge of the covered course. You can either write a scientific report or discuss a certain subject hence it contains all elements of academic writing.
Apart from demonstrating your knowledge of the economics subject at hand, you must also show that you can do the following;
There is a variety of economics papers you can choose to write your term paper. Each has its unique features and hence you need to pick an economics paper that is suitable for your research paper.
Theoretical term papers: They are characterized by mathematical models and graphs. It requires advanced knowledge of mathematics.
Empirical term papers: This task requires a background in econometrics and statistics. You are required to write a hypothesis and prove or disprove it using available data.
Literature survey: This type of term paper requires a lot of reading. You need to gather secondary sources (books, journals, articles, etc.) that are relevant to your topic and highlight your main arguments. You need to make connections between this vast pull of literature and your research topic.
Case note: This type of term paper analyses legal cases from an economics perspective. While writing, focus first on the specifics of the case and incorporate economic analysis into the court’s decision.
Issue paper: This mainly entails a policy issue that needs to be analyzed through economic research methods. Mostly used in the analysis of the effects of institutional and government policy.
It is prudent to figure out which type of term paper is most suitable for your topic before starting your paper. In case you are not sure, go ahead and ask your course instructor for guidance.
An economics term paper has four sections, that is, introduction, body, conclusion, and reference list.
Introduction: Conventional academic papers start with a hook to grab the reader’s attention. In this type of research paper, you should include your topic and research question within your introduction.
Body: The body of an economics research paper should be organized into three main parts:
Theoretical base: In this part, you should write the different opinions and findings of other scholars, and specify gaps within their research that you wish to study. It is a short account of the literature you have read and scientists involved within the subject of study.
Practical session: At this point, you must prove or disprove your thesis by applying economics skills and research methods learned during the course. This involves the application of economics skills in practice.
Finding analysis: This entails an evaluation of all your findings and determining their value on your research. You can use visuals to present them such as graphs, charts, etc.
Conclusion: Include your question and thesis within your introduction. Add in your finding and mention your contribution to the economics topic of study you had chosen.
An example of economic term paper examples is right here below: Intro, Body, Conclusion, References
The economic consequences (profits and loss) of hosting the Olympics
The Olympics is a grand athletic festival with its origins in ancient Greece. Since its modern revival in the late 19th century, it has brought nations, athletes, and individuals together. Supporters of the Olympics believe hosting the games can improve local trade, increase tourism, and grow a country’s global trade structure.
The economic impact of hosting the Olympics has more disadvantages than advantages. The Olympics is a financial drain to its host cities.
The bidding process all the way to creating expensive sports infrastructure and sports facilities is quite costly. Additionally, the facilities put up are rarely in use after the event.
Bidding for the Olympics
The budget for hosting the Olympics comprises of series of incurred costs. For a city to host the Olympics it has to place a bid with the International Olympics Committee (IOC) through the country’s National Olympic Committee (NOC).
Apart from the fee paid to the IOC for bidding, cities have to spend millions of dollars in fees for event organizers, consultants, and logistics as part of preparing to host the event. Bidding does not guarantee an opportunity to host the Olympics.
For example, Tokyo Japan spent approximately $160 million in bid expenses for the 2016 Olympics and ended up losing a hosting opportunity.
Hosting costs incurred by cities for the Olympics
Once a city wins the bid for hosting the Olympics, cities usually enhance transport facilities such as roads, railways, upgrading airports, etc. Housing upgrades is an added cost as the IOC requires a hosting city to have 40,000 available hotel rooms during hosting.
Event venues take up the largest costs. Stadiums large enough to hold thousands of fans and athletes need to build or upgrade. Highly specialized sports facilities may need to be put up such as ski jumping arenas and cycling tracks.
Such facilities, commonly known as white elephants take up a lot of revenue to run after the Olympics. Their specialized nature renders them to be of limited use post-Olympics. For example, the “Birds Nest” in Beijing took approximately $460 million to build and costs $10 million each year to maintain.
The Olympic village is an added cost of construction or building upgrades. It is used to accommodate athletes, game officials, and athletic trainers. Over ten thousand athletes attend the Olympics in any given year.
Some cities have come with innovative solutions to recreate Olympic villages into settlement areas. For example, the East Village in London was turned into housing development as a new residential area.
Advantages of hosting the Olympics
Cities and host countries benefit from temporary jobs brought about by infrastructure improvements and hospitality needs. For example, the Rio games in 2016 had the city construct an additional 15000 hotel rooms.
Infrastructure built during the Olympics could continue to serve host nations post Olympics. The non-sport infrastructure includes railways, roads, and airports.
Thousands of tourists, athletes, media personnel, and sponsors flock to cities pre and post the Olympic events. This brings in additional revenue to the host city’s economy.
Drawbacks of hosting the Olympics
Jobs created by Olympic activities are always overstated and not as beneficial. Only a fraction of the population gets employed to service the Olympic preparations.
Additionally, international companies get to reap most of the construction, hotel, and restaurant contracts than the host city’s businesses.
Revenue generated from the games comes only at a fraction of the total cost of expenses incurred in hosting the games. For example, in the London Olympics of 2012, the city brought in $5 billion compared to $18 billion used to set up the hosting.
Most cities end up running a loss. The only city known to have positive revenue generated from hosting the Olympics in Los Angeles in the United States.
Some cities end up in debt after hosting the Olympics. Such situations leave cities’ taxpayers with a huge burden of having to pay off public debt for years. For example, Montreal finished paying its 1976 Olympics host debt in 2006.
The Olympic Games are part of world heritage and an integral part of modern human association. The drawbacks associated with hosting an Olympic event for cities, however, far outweigh the advantages.
It would be prudent if the International Olympics Committee would restructure the process of hosting the Olympics to make it a more favorable event.
FAQs are issues that are raised by multiple people to get a better understanding of how something works. They try to fill in common knowledge gaps. Here are a few FAQs on economics:
How do you write an economics paper?
What are three examples of economics?
Does economics use MLA or APA?
What are some economic topics?
Economics is a huge part of our life. Modern technology has led an evolution of economics bringing in new opportunities and challenges. The best way of writing an economics paper is to employ structure and creativity in your paper.
In case you are stuck, you may search economics paper example found online to get a clue on how to write one. If you need further help on economics papers seek professional help. Click here to reach us.
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