]An initiative by Economics Tuition Online, the JC Economics Essay is an subsidiary education platform that centers on essay-writing skills as well as the critical-thinking skills underpinning it. Such a platform provides convenience and learning enhanceability to our students as they learn and practise economics essay wherever they go.
Our JC Economics Essays emphasise on the practicality of exam-conditions as well as the content-proficiency essay skills, so as to prepare our students for the GCE A Levels Economics Paper. These essays are also skewed towards skills development as we pay attention to the various layers of writing, namely structural development, causation development, diagrammatic illustration, extent of argument and further analysis. Our tutors believe that such an approach sharpens critical thinking through a methodical way of learning, hence promoting easier understanding.
Perhaps the most important aspect of writing an Economic Essay, the Structural Development plays a crucial role in formulating the essence of an essay while revealing underlying Question Requirements, Economic Perspectives as well as the Application of Economic Principles in a given context. As a result, student will discover much utility from our JC Economics Essays as they revel in the strategic areas of planning and thinking that our tutors have provided. Good planning and foresight certainly paves the way towards the A Grade.
With the crux of the essay outlined, the next significant step forms the essay body and fills the structural outline. This is yet another critical area to develop as students are expected to convey the meaning of certain economic concepts and expound on its details. Such causation development must be able to stay relevant to question requirements while maintaining succinctness of answer, a difficult approach that our JC Economic Essays can help to address. Students will discover, in our essay, how to tweak economic causation with variations and inject coherence into their conceptual explanations, while receiving exam-oriented writing techniques to induce quick yet complex writing.
Unique to Economic Essay, diagrammatic illustration serves to visualise the essence of Economic Principles, so as to outlay the important aspects. Economic Diagrams also help identify key conceptual factors such as Deadweight Loss, Profit Maximisation and Government Taxes & Subsidies. At our JC Economics Essays, we impart students with efficient modes of diagram illustration while ensuring that their diagram descriptions are accurate and concise in explaining economic concepts. These techniques ensure that students develop proficiency in their drawings while maintaining exam-critical expertise.
Arguably important in all types of essays, the extent of argument allows the writer to qualify his/her stand and provide strengths as well as weaknesses to the argument. Hence, the ability to qualify an argument becomes a fundamental aspect in an economic student’s writing, demanding exam candidates to provide balance to the argument while displaying academic maturity. However, such a skill is not easy to cultivate as students are expected to understand nuances of similar arguments and think critically with the context in mind. Therefore, our tutors have sought to utilise the Economics Tuition Online platform to bridge our students’ understanding by equipping them with online essay analysis, question dissection and exposure to economic perspectives.
At the end of the essay, students are given the opportunity to further qualify their essay arguments through a display of in-depth contextual understanding beyond the boundaries of the essay question. This form of further analysis allows students to input additional evaluations and add valuable insights to their answers. With the well-established essay, such an analysis certainly justifies bonus marks as it exhibits the student’s broadness of understanding and the ability to integrate multiple concepts and contexts. Economics Tuition Online encourage students to inculcate these critical thinking habits through evaluative discussions as well as analysis of model examples. Find out how you can hone these critical skills with our JC Economics Essay today!
In Microeconomics, students will tackle complex essays with increasingly demanding question requirements that ties to in-depth understanding of real-world context. Our students will find our essays useful as we address the primary concerns of essay-writing techniques such as proficient language use, concise ideas and content emphasis. Read on and revitalise your essay techniques in Microeconomics!
Get started in the study of Economics by examining what is the 'Central Economic Problem' entails and how individuals, organisations and governments make rational choices to allocate resources. As such, making choices incur opportunity costs. The problem of scarcity is the result of unlimited wants and finite resources.
Identify the factors affecting demand and supply to understand what there are differences in price and output of goods and services in various markets. By combining your knowledge of demand and supply concepts, the market equilibrium can be observed, which then sets the price and output.
Examine the elasticity of demand and supply concepts to find out what there are differences in the extent of change in price and quantity for goods and services in various markets, like food, smartphones and even air travel. By understanding these concepts, you can analyse the price strategies used by producers to maximise total revenue.
Identify various forms of government regulation that affect price and quantity of goods and services, such as price ceiling, price floor, subsidies and taxation. By applying the concepts of elasticity of demand and supply, you can examine the welfare analysis on consumers and producers, such as the tax incidence.
Learn more about different types of cost conditions to understand how firms set their production equilibrium, which affects the price and output level. In this chapter, areas of learning include costs incurred by firms in short run and long run conditions, economies of scale and the notion of profit maximisation.
Delve into the topic of market structures by starting off with the study of the perfect market structure, which is a theoretical concept to understand economics concepts, like perfect market information and mobility of resources. Identify distinctive characteristics to develop a better understanding of this chapter, like number of firms, barriers to entry and the profit-maximisation price and output levels.
Follow-up your study of market structures by learning more about three types, namely monopoly, oligopoly and monopolistic competition. Distinguish between these market structures based on the characteristics, like number of firms, types of products and degree of market power. As for the oligopolistic market, examine two sub-types, particularly collusive and non-collusive firms.
Examine how the failure of price mechanisms and the absence of government intervention leads to market failures. Identify four main reasons for market failures, namely the presence of positive or negative externalities, absence of public goods, market dominance and uneven distribution of income. Find out different measures that governments have introduced to overcome market failure and eliminate the deadweight loss incurred by the society.
Macroeconomic Essays relates to the global issues covered in the Economic Syllabus, covering topics such as NIA, NID, Economic Growth, Inflation, Trade and BOP etc. These essays are focused on the causation development of economic concepts and guides students to formulate their thoughts into proficient writing. Scroll down and rediscover your interest in Economics!
The Aggregate Demand-Aggregate Supply (AD-AS) Model topic involves the study of different components affecting the AD and AS. For AD, it features consumption, investment, government and net exports. For National Income Determination (NID), it features areas of learning, like the circular flow of income, multiplier process, reverse-multiplier process and the equilibrium of national income. The comprehension of these concepts will be critical for the study of the following chapters, namely the economic indicators and macroeconomic policies.
National Income Accounting (NIA) refers to the study of various economic indicators that are used to measure the economic performance of countries. By doing so, governments can assess the current standard of living of the countries. Areas of learning will focus on the identification, derivation and interpretation of economic indicators, like Gross Domestic Product (GDP), Consumer Price Index (CPI) and Human Development Index (HDI).
Examine the notion of economic growth and how it can be measured by indicators, like Gross Domestic Product (GDP) and Gross National Product (GNP). Find out what are the determinants that affect the varying levels of economic growth rates in countries as well as the impacts of economic growth. By recognising the benefits of sustainable economic growth, governments must introduce appropriate macroeconomic policies to pursue this aim.
Learn more about inflation, which refers to the sustained increase in general price level over a period of time, usually in a given year. Inflation rate is typially measured by the Consumer Price Index (CPI). Find out more about different causes of inflation, such as demand-pull inflation and cost-push inflation. Also, examine the positive and negative consequences of inflation on the individuals, firms and economies. By doing so, it will be crucial for governments to implement policies to maintain a low rate of inflation.
Unemployment refers to an economic condition whereby individuals who are willing and able to work but are unable to secure a job. It is usually measured by the unemployment rate, which is a fraction of the unemployment to the total active working population. Identify the causes of unemployment, such as demand-deficient unemployment, structural unemployment and frictional unemployment. Analyse the consequences of unemployment to comprehend why governments seek to achieve a low rate of unemployment.
The aims of government refer to price stability, full employment, sustained economic growth and external equilibrium. Examine different types of macroeconomic policies to find out how governments can pursue these aims. For demand-side policies, areas of learning include monetary policy, fiscal policy and exchange rate policy. For supply-side policies, areas of learning include manpower development, infrastructural development, R&D and trade development policies. Also, analyse the conflicting aims of governments.
Delve into the topic of International Economics by examining the Theory of Comparative Advantage (CA), which is derived from the assessment of opportunity costs incurred due to the focus on production of specific goods and services. CA is used to determine what types of goods and services that countries should specialise in and produce. Also, learn more about the benefits and detriments of free trade that affect developing and developed economies.
Although free trade has been touted by trade economists as a beneficial economic development, not all countries enjoy the benefits of free trade due to limitations, like the absence of infrastructure to support trade as well as the occurence of unemployment due to external competition. As such, countries may impose trade protectionism to insulate their economies from the harmful impacts of trade via measures, like tariffs, quotas and embargoes.
Globalization refers to the economic integration due to freer flow of labour and capital. Assess the benefits and detrimentals of globalization to understand why governments may pursue export-oriented strategies to advance their economic development without being undermined by the adverse effects. Globalization also involves the study of Foreign Direct Investment (FDI), which affects the external equilibrium.
Foreign Exchange involves the study of differences in value of currencies due to the changes in the demand and supply factors that affect the determination of exchange rate values. Learn more about different types of exchange rate systems, like the fixed exchange rate system, flexible exchange rate system and managed float exchange rate system. Examine how changes in exchange rate values affect the balance of payments, which then influences the economic stability of countries in the short run and long run.
Balance of Payment measures the economic transactions between a country and the rest of the world, based on a set of components, namely current account and capital account. Identify the sub-components that affect the current account, like the trade balance, service balance and income balance. Areas of study also include the causes and consequences of balance of payment deficit and surplus. By understanding how external factors can affect the balance of payment for a country, it will be useful to determine how governments can introduce appropriate policy responses to minimise the adverse impacts while reaping the desirable economic impacts, like financial stability.