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Economics: Model Essays (Second Edition)

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Economics: Model Essays (Second Edition)

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Economics Model Essays

Model Essays (Second Edition)

Economics: Model Essays is the 2nd edition best-selling revision guide that helps students gain a strong grade in the essay component of the 2023–2025 Cambridge International AS & A Level Economics (9708) examination paper.

This title is available as an e-book. To purchase, visit your preferred e-book provider.

• Description
• Authors' Profiles

This book contains over 50 new model essays covering each syllabus unit to aid understanding on how to effectively approach essay questions. Each model essay is accompanied by an essay outline that presents a clear essay structure comprising an Introduction, Body and Conclusion.

In addition to various tips, conceptual diagrams on basic economics concepts are also included in the book to give an overall insight into each subject topic.

This book is suitable for students taking Paper 2 and Paper 4 of the Cambridge International AS & A Level Economics (9708).

Acknowledgements

Introduction

How to use this book

      AS Level

1 Basic Economic Ideas and Resource Allocation

2 The Price System and the Microeconomy

3 Government Microeconomic Intervention

4 The Macroeconomy

5 Government Macroeconomic Intervention

6 International Economic Issues

      A2 Level

7 The Price System and the Microeconomy

8 Government Microeconomic Intervention

9 The Macroeconomy

10 Government Macroeconomic Intervention

11 International Economic Issues

Wong Wai Leong is an Economics lecturer at Sunway College, Malaysia with more than 25 years of teaching experience. His students have won Cambridge Top in the World and Top in Malaysia awards in A Level Economics.

Ngew Shook Ying has taught IGCSE and A Level Economics for 10 years. She is currently an examiner for Cambridge Assessment International Education.

Nedumaran Munusamy has 15 years of teaching experience in A Level Economics. He is currently a Senior Lecturer and Head of the A Level Economics department at Sunway College, Malaysia.

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Economics : Model Essays

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Economics: Model Essays is tailored to prepare students for Paper 2 and Paper 4 of the 2019-2021 Cambridge International AS & A Level Economics (9708) examination. The model essays are specially written as answers to selected past year questions, and are supported with essay outlines and notes on how students can successfully compose convincing essays.

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How to write essays for Edexcel A-level Economics

In this post I outline the key requirements for each section (mainly B and C) in papers 1 and 2 for Edexcel A-level Economics A. This is the advice I give to my tuition students to help them achieve improved grades.

From years as an economics tutor and from reading through the examiner’s reports, I have picked up students’ typical mistakes and good general approaches for A-level Economics students.

For an online course on economics exam technique, check out this link here:

For sample answers to 25 mark questions, check out the link below:

Here the total marks – 25

So ideal timing – ideally you would get this section done the quickest, for example around 15 minutes or even quicker. 

Note there is no need to say much about the structure here. It is important to be succinct with short answer questions. 

Also with questions asking to draw a graph, make sure to label axes, lines  and equilibria correctly.

Section B 

Now this section requires the knowledge, application and analysis (KAA) skills as well as the evaluation skills. 

Total marks – 50. Note this is half the marks of the paper for papers 1 and 2.

Here the ideal timing – 60-70 minutes. Note you may want to spend some time reading here.

Below, this table shows the mark allocation for each question.

To summarise, the more marks allocated to analysis or evaluation, the more you need to write. You should remember this table when doing exam questions.

Breakdown of Section B by question

First the 5 mark question. Answer the question quickly and use the extract to support your answer. Keep it succinct, at most an extended paragraph. No evaluation required.

Next the 8 mark question. Here 6 marks for KAA, 2 for evaluation. A good general structure is 2 KAA paragraphs and 2 short evaluative comments (or 1 evaluative comment well developed). See page 24-25 of this examiner’s report for a good example, though the evaluation could be even shorter as the examiner’s report notes: here .

Now for the 10 mark question, 6 marks for KAA, 4 for evaluation. The difference between the 8 and the 10 mark question is the extra marks for evaluation. Again 2 KAA paragraphs but now 2 developed evaluative comments.

For the 12 mark question, 8 marks are for KAA and 4 for evaluation. For the 12 mark question, we need 2 more detailed KAA paragraphs, ideally one where a diagram is being used and explained, and 2 developed evaluative comments. To find a response that received full marks, see pages 27 to 28 on the examiner’s report here .

Finally for the 15 mark question, there are 9 marks for KAA, 6 for evaluation. For this we need 2 KAA paragraphs, ideally with at least one diagram where possible. Note these explanations should be deep with more than one chain of analysis per paragraph. The two evaluation paragraphs should be well explained.

Typical Mistakes in Section B

From students essays I have observed, typical mistakes in section B include:

• Often overwriting;
• Specifically spending too much time on 8 and 10 mark questions. This is often to the detriment of 12, 15 mark questions and the 25 mark question in section C;
• Conversely leaving parts or whole questions blank due to not understanding the question or time constraints;
• Also missing one or more of the criteria – application, analysis or evaluation.

Section C – 25 Mark Essay

Finally for the section C essay, total marks – 25 

Here the ideal timing – 35-40 minutes.

So for the 25 mark essay, the mark allocation is 16 marks for KAA, 9 for evaluation.

Now regarding the structure different teachers have different recommendations on the structure of this question. The simplest way is to:

• First, have a short introduction with one/two key definitions;
• Then two extended KAA paragraphs each with multiple chains of analysis, at least one (if not two) graphs in the analysis;
• Between these KAA paragraphs, two extended evaluation paragraphs with extended chains of analysis;
• Finally there should be a conclusion that directly answers the question, justifies the answer and relates back to the context.

In addition for an example essay that scored in the top bands is on pages 56-60 in this examiner’s report here .

Any spare time you should use to make your answers more complete, filling in any gaps left. This exam is often quite tight for time. So please do practise in timed conditions.

Further Reading

Next, a key criterion for doing well is using examples from the real economy. Tips on how to score application marks for Edexcel Economics A-level:

To practise your essay technique on practice papers, you are welcome to look into the practice papers here:

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A Level Economics

Our extensive collection of resources is the perfect tool for students aiming to ace their exams and for teachers seeking reliable resources to support their students' learning journey. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously organised to simplify your search.

AQA A Level Economics

Cambridge (cie) a level economics, edexcel a level economics b, ocr a level economics, wjec a level economics, wjec eduqas a level economics, articles and resources for a level economics students.

A Level and AS Level Exam Dates 2024

Choosing A Level Subjects

Is Economics A Level Hard?

Retaking Your A Levels - Everything You Need to Know

A Level Results Day 2024

Got questions we've got answers, what is economics a level.

Economics is the study of how resources are used in societies and the factors that influence resource use. Microeconomics considers these decisions from an individual and firm's point of view. Macroeconomics considers these decisions from a government, national and international level. Typical topics covered include supply and demand; market failure; market structures; government intervention; fiscal and monetary policy, exchange rates and international trade.

How to revise Economics A Level?

1. Organise your study materials 2. Create a revision schedule 3. Familiarise yourself with your exam papers, format and timings 4. Use active recall techniques to consolidate knowledge 5. Practice past papers/topic questions 6. Balance work with healthy habits and rest 7. Review and self-test on a regular basis

How hard is A Level Economics?

Similar to Mathematics, Economics is a very logical subject. Basic principles are learnt and then these have to be applied to different situations. The difficulty (and enjoyment) in the subject lies in being able to apply theory to a situation and then analyse and evaluate the potential outcomes. 10 Economists may all have different interpretations based on their insight or different interpretation of data.

Why study Economics A Level?

Economics provides an excellent understanding of how economies function. Irrespective of your career, this understanding can help you to make better decisions - decisions about your career, your financial choices, and your health. The study of economics also provides insight into what and how government actions will have an influence on your life. This perhaps will make you a more informed voter and help you to be more connected to the political process in the country.

Economics Model Essays

Economics Model Essay 1

(a)   Distinguish between the concepts of price elasticity of demand, income elasticity of demand and cross elasticity of demand. [10] (b)   Discuss the usefulness of the concepts of elasticity of demand to a firm that produces a fashionable product. [15]

Click to Read  

Economics Model Essay 2

After reaching a rate of 8.3 percent in 2010, GDP growth in Asia is projected to average nearly 7 percent in both 2011 and 2012, according to the IMF. However, due to the growing unrest in the Middle East sparked by the Egyptian Revolution that began on 25 January 2011, oil prices have started to rise. Discuss how the market for private cars and its related markets in Asia may be affected by the above events. [25]

Economics Model Essay 3

Findings from a variety of studies show that routine consumption of artificial sweeteners such as aspartame, saccharin and sucralose may lead to higher likelihood of heart disease, stroke, diabetes and high blood pressure. Some countries such as the United States and France have imposed a tax on non-diet soft drinks to fight obesity. A rise in the price of sugar has led to an increase in the demand for artificial sweeteners and this has pushed up the prices.

Discuss how the above events would affect consumer expenditure on diet soft drinks and non-diet soft drinks. [25]

Economics Model Essay 4

The production of petrol should be left to market forces. In spite of this, some governments subsidise petrol while others impose a tax on it. Discuss. [25]

Economics Model Essay 5

Discuss the economic effects of a redirection of government subsidy from petrol to education. [25]

Economics Model Essay 6

Discuss whether an increase in savings in Singapore would lead to problems in the economy. [25]

Economics Model Essay 7

Discuss the view that Singapore has few policies to deal with an external shock. [25]

Economics Model Essay 8

“A fall in the terms of trade is undesirable for the economy.” Discuss the statement. [25]

Economics Model Essay 9

Discuss whether globalisation would benefit firms and households. [25]

Economics Model Essay 10

Discuss whether increasing labour productivity in Singapore would be desirable for the economy. [25]

Economics Model Essay 11

(a)   Explain how the different characteristics of the market structures of monopolistic competition and oligopoly affect pricing and output decisions. [10] (b)   Discuss whether the behaviour of oligopolistic firms is consistent with the objective of profit maximisation. [15]

Economics Model Essay 12

(a)   Explain whether the demand for private cars is elastic or inelastic in Singapore with respect to price and income. [10] (b)   Discuss the effects of a sharp rise in the prices of Certificates of Entitlement in Singapore on expenditure by consumers on different types of cars. [15]

Economics Model Essay 13

(a)   Compare the characteristics of the market structures of monopolistic competition an oligopoly. [10] (b)   Discuss whether firms in a highly competitive market are more vulnerable than firms in a less competitive market in a recession. [15]

Economics Model Essay 14

Discuss whether the concepts of elasticity of demand are useful to the government for discouraging the use of private cars. [25]

Economics Model Essay 15

Discuss whether a shift from reliance on foreign workers to improving labour productivity in Singapore would lead to an increase in international competitiveness. [25]

Economics Model Essay 16

(a)   Explain why the government subsidises education. [10] (b)   Discuss whether a reduction in the subsidy on education is justified. [15]

Economics Model Essay 17

Discuss whether austerity measures in the European Union would adversely affect the Singapore economy. [25]

Economics Model Essay 18

Discuss whether a shift from direct taxes to indirect taxes would improve the current and future standards of living in Singapore. [25]

Economics Model Essay 19

(a)   Explain why Singapore chooses to use the exchange rate rather than interest rates as the policy instrument of its monetary policy. [10]

Note: All rights reserved. No part of these publications may be reproduced, stored in a retrieval system, or transmitted by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Economics tutors and teachers who wish to use the materials for teaching may submit a request to Economics Cafe. The content in the economics model essays will be discussed in greater detail in   economics tuition .  

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Cambridge International AS & A Level Economics: Model Essays

Publisher,Gerak Budaya Publication Date, September 1, 2022 Format, Paperback Weight, 420 g No. of Pages, 312

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2018 Practice Essays for A Level Economics

3rd May 2018

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At this time of year lots of teachers work feverishly through essay plans as a way of revising core content and honing those all-important essay exam skills. Here is a selection of micro & macro essay titles that I have been using in class.

Micro Essays

Home ownership has become increasingly difficult to access, particularly for first-time buyers, as house price growth has outstripped growth in wages. Median house prices in England are now 7.7 times higher than median earnings. In London, the ratio can be considerably higher: in Chelsea & Fulham, it is 24.8.

Assess the policies that might be most effective in improving housing affordability in the UK economy (25)

Evaluate the micro and macroeconomic impact of a significant rise in average UK house prices (25) 

Regulation of monopoly 

Using your own knowledge, evaluate the argument that economic welfare can be best promoted through regulation of businesses with monopoly power (25) 

Barriers to entry and profit

Examine the role of barriers to entry in earning economic profit in industries of your choice. (25) 

Contestable markets

Neo-classical theory of competition implies that more firms in a market is the only way to improve outcomes for consumers”. With reference to examples, to what extent do you agree? (25)

Food prices and consumer welfare

Examine the policies a government might use to make food affordable to lower income groups. (25)

Energy market

Evaluate the argument that consumers would benefit from the government imposing a price cap on household energy bills (25)

Plastic pollution, public bads and externalities

Assess the policies that might be most effective in reducing the scale of plastic pollution in the UK and other countries of your choice (25)

Environmental market failure

Discuss the view that the overuse of common access resources is best addressed by government intervention (25)

The Gig Economy

Discuss the impact of the expansion of the gig economy on UK economic performance. (25)

Trade unions in the labour market

Evaluate the possible effects on the UK labour market of a decrease in trade union membership (25)

Discuss the microeconomic and macroeconomic effects of stronger trade unions on the UK economy (25) 

Assess the argument that a universal basic income is likely to be the most effective policy for reducing the scale of income and wealth inequality in the UK (25) 

Evaluate the micro and macroeconomic causes of inequality and poverty in the UK (25)

Essential Revision Resources to Get Before June!

Revision flashcards for a-level economics students.

Resource Collection

Macroeconomics

Globalisation

Evaluate the extent to which globalisation inevitably leads to a rise in income and wealth inequality in one or more countries of your choice (25)

Exchange rates

Using your own knowledge, examine some of the likely macroeconomic effects of a depreciation in the sterling exchange rate (25)

Trade and the European Union

Discuss the likely micro and macroeconomic effects on the UK economy of leaving the EU customs union (25)

Evaluate the view that membership of a customs union has more advantages than disadvantages for an economy. Discuss with reference to any developed or developing country of your choice (25)

Quantitative easing

Using your own knowledge, discuss the impact that quantitative easing has had on UK macroeconomic objectives in recent years (25)

Monetary Policy

Policy interest rates in the UK have been too low for too long and now risk damaging the health of the UK economy. Assess the validity of this view (25)

Development policies

Drawing on knowledge from countries of your choice, evaluate the argument that sustainable development is best achieved by allowing free market forces to allocate resources (25)

Fiscal policy

Since the 2007-08 financial crisis, increases in tax revenues and, to a greater extent, reductions in public spending have contributed to the UK fiscal deficit falling by 7.5 percent of national income by 2016/17. Revenues increased by 1.7 percent of national income and spending decreased by 5.9 percent of national income between 2009/10 and 2016/17.  

Assess the view that the policy of fiscal austerity used by the UK government over recent years has been damaging to the long-term prospects for the UK economy. (25) 

Macroeconomic trade-offs

UK unemployment has fallen to a 45 year low of 4.2% of the labour force, yet CPI inflation remains relatively stable and close to target.

Evaluate the view that, in the case of the UK economy, the standard Phillips Curve trade-off between jobs and prices is no longer valid (25)

European Monetary Union and the EU Economy

To what extent should the Euro Area be considered an optimal currency area? (25)

Discuss the factors that may have contributed to slow economic growth in the European Union (25)

Financial economics

Examine the view that market failure is inevitable in financial markets. Justify your answer with reference to economic theory and evidence (25)

Assess the policies that have been introduced to reduce financial market failures in the UK economy since the Global Financial Crisis. (25)

Evaluate the view that increased regulation of the banking system can be damaging to the competitiveness of an economy. Discuss with reference with countries of your choice. (25) 

Assess the extent to which the financial sector has been responsible for speculative bubbles in one or more countries of your choice. (25)

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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Model Essays for IB & A Level Economics: (Microeconomics Vol 1) Paperback – May 15, 2020

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• Publisher ‏ : ‎ Edventures Pte Ltd (May 15, 2020)
• Language ‏ : ‎ English
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​​Cambridge International As & A Level Economics: Model Essays

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• CARA PENGHANTARAN

Cambridge International As & A Level Economics: Model Essays

Author: Wong Wai Leong

Publisher: Sunway University Press

ISBN : 9789675492037

Weight: 0.4

Price : RM89

Cambridge International AS & A Level Economics: Model Essays is tailored to prepare students for Paper 2 and Paper 4 of the 2019-2021 Cambridge International AS & A Level Economics (9708) examination. The model essays are specially written as answers to selected past year questions, and are supported with essay outlines and notes on how you can successfully compose convincing essays.

About authors

Wong Wai Leong is an accomplished Senior Lecturer of A Level Economics at Sunway College. He has 23 years of teaching experience, and his students have won Cambridge Top in the World and Top in Malaysia awards in A Level Economics.

Ngew Shook Ying has taught IGCSE and A Level Economics for 10 years. She currently teaches A Level Economics at Sunway College and is examiner for Cambridge Assessment International Education.

Nedumaran Munusamy has 15 years of teaching experience and Head of the A Level Economics department at Sunway College.

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A-Level Economics Theme 4 model essays (A* level) (Suitable for 2024 exams)

Subject: Economics

Age range: 16+

Resource type: Assessment and revision

Last updated

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Want to ace A-Level Economics Theme 4 Macroeconomics? Then these A* level model essays are perfect for you!

When it comes down to writing essays for A-Level Economics it can get a bit tricky. This resource is packed with helpful guidance for you to succeed, ranging from model essays on key topic areas to structures for a top essay.

I did all of this and in the 2022 exams I achieved 88% (295/335) in my actual A-Level, a comfortable A* by over 10%!

*NB: This resource has been designed for Edexcel, however, it is suitable for all exam boards due to the overlap in the content.

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A-Level Economics A* model essays for All Themes (Suitable for 2024 exams)

Want to ace A-Level Economics? Then these A* level model essays are perfect for you! When it comes down to writing essays for A-Level Economics it can get a bit tricky. This resource is packed with helpful guidance for you to succeed, ranging from model essays on key topic areas to structures for a top essay. I did all of this and in the 2022 exams I achieved 88% (295/335) in my actual A-Level, a comfortable A* by over 10%! *NB: This resource has been designed for Edexcel, however, it is suitable for all exam boards due to the overlap in the content.

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