essay topics for economic growth

80 Economic Growth Essay Topics

🏆 best essay topics on economic growth, 📚 economic growth research paper examples, 🎓 most interesting economic growth research titles, 💡 simple economic growth essay ideas.

• Hospitality Industry in Economic Growth and Development
• Sustainability of Economic Growth
• Bangladesh: Stimulating Economic Growth
• Institutions and Economic Growth
• Moral Dimensions of Economic Growth
• Trade in Environmental Goods and Economic Growth
• Joseph Schumpeter’s Evolutionary Approach to Economic Growth
• Timor-Leste: Effects of Tourism on the Economic Growth The tourism sector in Timor-Leste, just like in any other Southeast Asian countries has an immense potential to contribute to the country’s economic growth.
• The Relationship Between Unemployment and Economic Growth Among the factors that define economic growth and development, human resources and unemployment are considered to be the most vital.
• Economic Growth Factors in Australia External factors such as Consumer Price Index (CPI), consumer behavior, and inflation rate play a very important role in stimulating economic growth.
• Are Minimum Wages Harmful or Helpful to Economic Growth The minimum wage is an economic policy in which the state controls the minimum income of the citizens. It is distributed all over the world and is embedded in any economic model.
• Resources and Economic Growth in the Indonesian Region The article’s main topic concerns the assessment of the role of various resources, including natural and human ones, in achieving economic growth in the Indonesian region.
• Debt Burden and Sustainable Economic Growth in Nigeria This paper examines the relationship effects of debt burden on sustainable economic growth using Nigeria as a case study.
• Whether Infinite Economic Growth Is Possible The author believes that there is a number of reasons why endless economic development is impossible in practice.
• Transportation Developments and Subsequent Economic Growth From 1865 to 1900 This essay discusses the main factors of increasing economic growth through transportation, and the reasons for such a connection are presented.
• Operations, Cash Budgets, and Economic Growth The purpose of working capital management is to ensure that an entity has sufficient funds to cover operational expenses and short-term maturing debts at any given point in time.
• Deficit Spending and Economic Growth To gain an in-depth understanding of the economic outcomes of the Great Recession and other financial catastrophes, it is crucial to grasp the concept of deficit spending.
• Social Determinants of Health: Economic Growth Effect Social injustice has adverse effects on the life that people lead in a given society. It also contributes to causes of diseases that affect the people.
• Long-Term Economic Growth in the East Asian States Although immigrants contribute positively to the economic status of East Asia, they cause overpopulation, native culture erosion, low wages, and unemployment.
• United Kingdom-Ghana Economic Growth Disparities The purpose of this paper is to explore some of the contributing factors that have led to economic growth disparities between the United Kingdom and Ghana.
• Economic Growth of East Asian States: The Impact of Foreign Workers Foreign workers perform essential skills and have affirmative productivity influences, thus, are integral to the long-term economic growth of East Asian states.
• Economic Issues: Factors of Production Growth and Unemployment Rates Assessing the factors such as the rates of production growth, the selected financial systems, and the rates of unemployment is essential for determining the threat to the state economy.
• Sports Facilities Development for Economic Growth Sports facilities do not contribute to the economic growth of the urban environment in their vicinity. There is no correlation between existing capacity and economic benefits.
• What Is the Best Way to Stimulate Economic Growth? The examples of economic growth and downturns and economic theories propose different solutions to overcome financial crisis and stabilize economic situation in a country.
• China’s and India’s Economic Growth Experiences China is a country that has been in a position to have poverty reduction this has been due to the strategies that have been used in the country by the Chinese people.
• Trends and Projections of the United States Economic Growth The economic growth rate of a country is not constant over time, but it exhibits phases of expansion, stagnation, and decline.
• The Industrial Revolution and Economic Growth The Industrial Revolution began to lay the foundation for the first market economies where goods were sold and purchased, resulting in the exchange and accumulation of wealth.
• The Industrial Revolution and Economic Growth History The Industrial Revolution had an impact on various spheres of European society. Its primary consequence was urbanization; people started to move to cities to find jobs.
• Industrial Revolution’s Input to Economic Growth The industrial revolution created many working places all over the United Kingdom, whereas the population of the state became more educated and competent.
• Dubai’s Economic Growth and Laziness of Poor The unprecedented growth of Dubai’s economy started in the 1970s. Dubai’s success provides an important lesson in the importance of human capital development.
• Global Warming Problems due to Economic Growth This paper investigates if it is possible to deal with global warming by reducing CO2 emissions and energy consumption without any threats to economic development.
• China’s Economic Growth and Manufacturing The enhanced economic growth, which China is currently experiencing, coexists with a drop in the manufacturing entrepreneurships’ performance.
• Trade Openness and Economic Growth’s Relationship In the article “The Relationship Between Trade Openness and Economic Growth,” authors discover aspects of measuring trade openness and its impact on economic growth.
• Economic Growth and Market Dynamics Gross domestic product (GDP) is a measure of the value of all services and goods produced in a certain period of time.
• Economic Growth and Expansion The acquisition of smaller companies, as well as creating mergers with the companies helps considerably when it comes to choosing an appropriate risk management strategy.
• Absorptive Capacity and the Effects of Foreign Direct Investment on Economic Growth
• Background Factors Facilitating Economic Growth Using Linear Regression and Soft Regression
• Accounting for the Decline in AFDC Caseloads: Welfare Reform or Economic Growth
• Defense Spending and Economic Growth in Turkey
• Building the Skills for Economic Growth and Competitiveness in Sri Lanka
• Capital Account Liberalization and Economic Growth in Developing Economies
• Accumulation, Technical Progress, and Increasing Returns in the Economic Growth of East Asia
• Rebalancing China’s Economic Growth: Some Insights From Japan’s Experience
• Achieving Sustainable Economic Growth and Development in Communities Across the United States
• China’s Economic Growth 1978-2025: What We Know Today About China’s Economic Growth Tomorrow
• Beyond Economic Growth: The Genuine Progress of Hong Kong From 1968 to 2010
• Economic Growth and Capital Flows in European Countries in Pre and Post-crisis Periods
• Adjustment Policies and Economic Growth in Developing Countries
• Linear and Nonlinear Causality Between Sectoral Electricity Consumption and Economic Growth
• Africa’s Recent Economic Growth: What Are the Contributing Factors
• Financial Development and Economic Growth: An Egg-and-Chicken Problem
• Banking Sector Development and Economic Growth in Central and Southeastern Europe Countries
• Measuring Intangible Capital and Its Contribution to Economic Growth in Europe
• Crime, Justice, and Growth in South Africa: Toward a Plausible Contribution From Criminal Justice to Economic Growth
• Optimal Economic Growth With Recursive Preferences: Decreasing Rate of Time Preference
• Aging and Economic Growth: The Role of Factor Markets and Fundamental Pension Reforms
• Challenge Facing China’s Economic Growth in Its Aging but Not Affluent Era
• Breaking Down the Barriers to Technological Progress: How U.S. Policy Can Promote Higher Economic Growth
• Finding the Cointegration and Causal Linkages Between Electricity Production and Economic Growth in Pakistan
• Accounting for Agricultural Decline With Economic Growth in Taiwan
• Labor Markets and Economic Growth: Lessons From Korea’s Industrialization, 1970-1990
• Bank and Non-Bank Financial Deepening and Economic Growth: The Nigerian Experience (1981–2010)
• Migrant Workers’ Remittances and Economic Growth: The Role of Financial Development
• Capital Flows and Economic Growth Across Spectral Frequencies: Evidence From Turkey
• Breaking Boundaries: Economic Growth in Canada in Relation to Immigration
• Population Growth and Endogenous Technological Change: Australian Economic Growth in the Long Run
• Addressing Smart Economic Growth by Specific Policies in the European Higher Education Area
• Determining the Relationship Between Financial Development and Economic Growth
• Capital Quality Improvement and the Sources of Economic Growth in the Euro Area
• Economic Growth and Climate Change in a Decentralized Economy
• Biodiversity and Economic Growth: Stabilization Versus Preservation of the Ecological Dynamics
• Living Standard and Economic Growth: The Relationship Through the Nonparametric Approach
• Agglomeration Economies, Economic Growth and the New Economic Geography in Mexico
• Financial Deepening and Economic Growth in Developing Countries
• Banking Structure and Regional Economic Growth
• A Causal Relationship Between Fossil Fuel Consumption and Economic Growth in the World
• Bridging and Bonding Social Capital: Which Type Is Good for Economic Growth
• China’s Eighteenth-Century Economic Growth and Imperial Power
• Financial Sector Development and Economic Growth
• British Economic Growth 1856-1973: The Post-War Period in Historical Perspective

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These essay examples and topics on Economic Growth were carefully selected by the StudyCorgi editorial team. They meet our highest standards in terms of grammar, punctuation, style, and fact accuracy. Please ensure you properly reference the materials if you’re using them to write your assignment.

This essay topic collection was updated on June 21, 2024 .

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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102 Economic Essay Topic Ideas & Examples

Inside This Article

Economics is a complex and diverse field that covers a wide range of topics. From microeconomics to macroeconomics, there are countless areas of study within this discipline that can be explored through essays. If you are struggling to come up with a topic for your economic essay, don't worry - we've got you covered! Here are 102 economic essay topic ideas and examples to help get you started:

Microeconomics:

• The impact of supply and demand on pricing in a competitive market
• How changes in consumer preferences affect the demand for a product
• The role of advertising in influencing consumer behavior
• The effects of minimum wage laws on employment levels
• The relationship between income inequality and economic growth
• The impact of government regulations on small businesses
• The economics of pollution and environmental regulations
• The role of market structures in determining pricing and output levels
• The economics of healthcare and the role of insurance companies
• The relationship between education and economic outcomes

Macroeconomics:

• The role of fiscal policy in stabilizing the economy during a recession
• The impact of monetary policy on inflation and unemployment
• The effects of globalization on economic growth and income inequality
• The economics of international trade and tariffs
• The role of central banks in managing the money supply
• The impact of government spending on economic growth
• The economics of immigration and its effects on wages and employment
• The relationship between economic growth and poverty reduction
• The role of technology in driving economic growth
• The economics of financial markets and the role of regulation

Development Economics:

• The impact of foreign aid on economic development
• The role of education in promoting economic growth in developing countries
• The effects of corruption on economic development
• The economics of natural resource extraction in developing countries
• The relationship between trade liberalization and economic growth
• The role of infrastructure investment in promoting economic development
• The effects of population growth on economic development
• The economics of gender inequality and its impact on economic outcomes
• The role of microfinance in promoting entrepreneurship in developing countries
• The impact of climate change on economic development

Behavioral Economics:

• The role of cognitive biases in decision-making
• The effects of social norms on economic behavior
• The economics of addiction and its impact on economic outcomes
• The relationship between emotions and economic decision-making
• The impact of framing effects on consumer behavior
• The role of incentives in promoting desired behaviors
• The effects of peer pressure on economic decision-making
• The economics of happiness and well-being
• The relationship between risk aversion and economic choices
• The role of behavioral economics in public policy

These are just a few examples of the many topics that can be explored in an economic essay. Whether you are interested in microeconomics, macroeconomics, development economics, or behavioral economics, there is a wealth of material to draw from. So pick a topic that interests you, do some research, and start writing!

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Economic Growth Essay Topic Ideas & Examples

1. Is the Chinese Economy a Bubble? 2. Key Factors Behind China’s Rapid Economic Growth and Its Global Consequences 3. Rapid Industrialization and Economic Growth in Japan 4. The Enhanced Business Climate in Colombia: Foreign Investment and Economic Growth 5. Economic Development in Hong Kong and Singapore 6. Kenya’s Economic Development 7. External Finance and Economic Development 8. The Connection between Economic Expansion and National Health 9. Since 1978, China’s Economic Growth 10. The Influence of China’s Economic Development on Sub-Saharan Africa 11. China’s Economic Development and Inflation 12. Theories of Economic Development 13. The State’s Role in Promoting Economic Growth 14. Effects of Rising Oil Prices on Economic Growth 15. China’s Rapid Economic Development 16. The Economic Development of China and India 17. The Role of Technological Progress in Achieving Sustained Economic Growth 18. International Trade Policy and the Achievement of Economic Growth 19. India’s Economic Growth Highs and Lows 20. The Role of Service Industries in Economic Development 21. Services Industries Contribute Significantly to Economic Growth 22. Building Economic Growth: The Significance of Service Industries 23. Institutional Reforms and Economic Growth in China 24. Effects of Economic Development on Environmental Sustainability 25. Economic History of Canada: How Did the Settlers Promote Economic Development? 26. Australia’s Economic Development 27. ICT and Economic Development 28. Has Globalization Led to Economic Expansion? 29. The Connection between Political Stability and Economic Growth

Essay Topics on Economic Growth

1. Economic Growth and the Environment 2. Asia-Pacific Region Experiences with Democracy and Economic Growth 3. China’s Economic Development and Financial Growth 4. Relationship between Sustainable Development and Economic Growth 5. Economic Development and Growth 6. Economic and Social Prosperity: The United Arab Emirates Vision, 2021 7. Services Sector and Economic Development 8. The Services Sector’s Contribution to Economic Growth 9. Maintaining Australia’s Economic Growth Rate 10. Population and Economic Growth Relationship 11. Economic Growth and Civil War: Evidence from Sudan 12. Effect of the Civil War on Economic Development 13. Etihad Airways and Maharashtra Government to Collaborate on Economic Growth 14. The Relationship between Economic Development and Growth 15. Economic Growth and Standard of Living 16. Industrialization and Contemporary Economic Development in India and China 17. Economic Development in Canada between 1990 and 2000 18. Cuba’s Struggle for Economic Development 19. Economic Development by David Weil 20. Contribution of Remittances to Global Economic Growth 21. China’s Economic Growth and Development Driven by Exports 22. Entrepreneurship and Economic Development 23. The Role of Supply Policies in Economic Growth 24. Singapore’s Economic Growth from 1965 to 2008 25. Domestic Product and Economic Development 26. Kenya: Economic Development and Health Care 27. Social Equality and Economic Development 28. The Function of Supply-Side Policies in Stable Economic Development 29. Impacts of Multinational Firms on Economic Growth 30. Economic Growth in Kenya: Challenges Past and Future 31. US Economic Growth: 2016-2018 Projection Trends

Economic Growth Essay Topics

1. Economic, Financial, and Social Expansion Opportunities for the UAE 2. The Impact of Saudi Arabia’s Economic Growth on Foreign Direct Investment 3. The Nexus of China’s Law, Finance, and Economic Growth 4. The Umran Theory of Ibn Khaldun and Economic Growth 5. Energy Security and Economic Growth in Southeast Asia 6. Education, Human Resources, and Economic Development 7. Human Capital and Economic Growth in Saudi Arabia 8. Political Systems as Economic Growth Factors 9. Funding for Higher Education and Economic Growth 10. Economic Development and Land Reform in Developing Nations 11. Impact of Globalization on China’s Economic Growth 12. Economics: Easterly’s “The Elusive Quest for Growth.” 13. Economic Growth and International Trade in Australia 14. Economic Growth: Problems in Various Nations 15. The Impact of Traffic Congestion on Dubai’s Economic Growth 16. Damage to Economic Growth in Developing Countries 17. David Weil’s “Economic Growth: International Edition.” 18. Economic Development and Technological Progress 19. Training and Development at Walmart Inc. for Economic Growth 20. Irish Economic Growth and Living Standard 21. Early Economic Growth in the United States and Its Causes 22. An Initial Examination of Economic Growth Predictors 23. Economic Growth and Emerging Nations 24. Conceptualization of Economic Growth 25. Prices of Gasoline, Unemployment Rates, Inflation, and Economic Growth 26. The U.S. Automobile Industry Contributes Significantly to National Economic Growth 27. John M. Quigley, Urban Diversity and Economic Development 28. History of the Kenyan Economy: Various Methods for Stimulating Economic Growth 29. Economic Growth and Poverty & Inequality in Vietnam 30. Climate Change and Economic Development 31. Australia’s Ten-Year Economic Growth 32. Morocco’s Economic Growth in the Context of Sustainable Development 33. Economic Growth and Inequality: Establishing Connections 34. Latitude Can Cause Long-Term Differences in Economic Growth between Countries.

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220 Economics Essay Topics You Can Explore in Your Research

Updated 20 Jun 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 our essay writing service is 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. Selecting compelling economics essay topics can be challenging, but if you need help, you can always find a service to write my essay and ensure a well-structured and insightful paper.

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Free Economic Development Essay Examples & Topics

Economic development is a set of policies and activities created to build long-term economic growth. This term is used to describe actions taken by governments, non-profit organizations, states, and communities. Naturally, their goal is to stimulate the economy.

On a broader scale, everything that a community does to generate wealth falls under the umbrella of economic development. Thus, an essay on this subject heavily relies on the task you’re dealing with. If you’re uncertain about the appropriate definition, you can clarify it with your instructor.

If you need to work on an economic development essay, this article will come in handy. In the following section, our team has collected some writing tips you will need to complete the task. Besides, we have prepared economic development essay topics. Among them, you will be able to find an ideal one for your paper. Moreover, you will find some free samples to check out.

Tips for Economic Development Essay

For a good essay about economic development, you first need to understand the foundational principles of academic writing. In other words, you have to know the standard five-paragraph structure. Plus, you should understand how to defend your position. We’ve discussed it here.

Your economic development essay should include the following sections:

• The hook & context. The first thing the reader will see is your introduction. So, it has to be catchy and informative. Provide an essential context to what you are trying to argue.
• The thesis statement. It is one sentence that expresses the message of your work. Its primary goal is to help control the ideas within the paper. Formulate your thesis clearly and place it at the end of the introduction.
• The arguments & examples. Arguments are the statements you make to explain your point of view. They should help you convince others to agree with you. In the five-paragraph essay, you will usually include three argumentative paragraphs – they will be the main body. These sections should contain examples so that your points become believable.
• The summary & concluding thoughts. This paragraph wraps up everything that was stated before. Our summarizer can help you with that task. Remember not to introduce any new ideas but to accentuate the main points. It is the last opportunity to leave your reader thinking about the issues raised in the paper.

To see the actual implementation of the structure, check the economic development essay examples below.

21 Economic Development Essay Topics

An original and exciting idea is a must when writing a top-of-the-class paper. That’s the reason why we have gathered this list of topics for your economic development essay. Hopefully, you will find a title that will work for you. If not, try using our topic generator to develop a different idea.

Here are some economy and development essay topics:

• Explain the role of agriculture in the economic development of least-developed countries.
• What is the correlation between democracy and economic development?
• What is sustainable development? Why is it so important?
• Why does environmental protection of the environment contribute to economic growth?
• Analyze the role of human capital in promoting economic growth in Southern Africa.
• Trace the connection between population growth and economic growth.
• Is it possible for a country to be developed without industrialization?
• What is the role of globalization on economic growth?
• How has the Green Revolution helped in economic growth?
• Explain why women are the drivers of economic development in third-world countries.
• Why is economic growth significant for businesses?
• What is the relationship between social and economic development?
• Why is the role of entrepreneurs in economic development so significant?
• How do governments assist in economic development?
• Why is higher economic growth connected to higher life expectancy?
• Discuss the role of small businesses in the economic development of third-world countries.
• What is the role of financial institutions in economic development?
• Describe the importance of renewable energy for development growth.
• Analyze economic problems in Mozambique and suggest how to find a solution.
• What are the most urgent economic issues of the United States?
• What is the difference between economic growth and financial growth?

We hope that our ideas and tips were helpful. You can find more economic topics by clicking on the link. Further below, you will find economic development essay examples written by other students. And good luck with your paper!

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Essay on Economic Growth And Development

Students are often asked to write an essay on Economic Growth And Development in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Economic Growth And Development

What is economic growth.

Economic growth means that a country is making more goods and services than before. This is often measured by looking at the Gross Domestic Product (GDP), which adds up the value of everything produced in a country. When GDP goes up, it usually means more jobs and money for people.

What is Economic Development?

Economic development is different. It’s not just about making more things; it’s about improving people’s lives. This includes better education, healthcare, and housing. It also means having a cleaner environment and making sure that everyone has a chance to succeed.

Why Are They Important?

Growth and development are important because they can make people’s lives better. When an economy grows, there are usually more jobs, which means people can earn more money to buy what they need and want. Development makes sure that this money also leads to a better quality of life.

250 Words Essay on Economic Growth And Development

Understanding economic growth.

Economic growth means that a country is making more goods and services than before. Think of it like a lemonade stand. If you sell more lemonade this year than last year, your stand has grown. For a whole country, we measure this growth by looking at something called the Gross Domestic Product, or GDP for short. This is like adding up all the money made from lemonade and everything else sold in the country.

The Meaning of Economic Development

Why growth and development matter.

When countries grow and develop, people usually have more money and better lives. Parents can buy more things for their kids, like books or toys. They can also take better care of their families, with better food and medicine. Countries can also take care of the planet by keeping the air and water clean.

Challenges on the Way

Sometimes, making more money can hurt the environment or make some people very rich while others stay poor. So, leaders must make smart choices to ensure that growth helps everyone and doesn’t harm our planet.

In short, economic growth and development are about making more and living better. Just like a lemonade stand, a country works to sell more and also to improve the stand and the neighborhood. This way, everyone can enjoy a sweeter sip of success.

500 Words Essay on Economic Growth And Development

Economic growth is like a country’s scorecard. It tells us how much more goods and services a country is making this year compared to last year. Imagine you have a lemonade stand. If you sell more cups of lemonade this summer than you did last summer, that’s growth. Countries measure their economic growth by calculating something called the Gross Domestic Product, or GDP for short. It’s like adding up all the money made from every lemonade stand and every other business in the country.

Why Economic Growth Matters

Why should we care about a country growing economically? Because it’s a sign that things are going well. When a country’s economy grows, it means more jobs for people, better salaries, and more money to spend on important things like schools, hospitals, and roads. It’s like if your lemonade stand makes more money, you can buy more lemons and sugar, make your stand look nicer, and maybe even hire your friends to help you.

Difference Between Growth and Development

Challenges on the road to development.

Even though growth and development sound great, they’re not easy to achieve. Some countries have a hard time growing because they lack resources or technology. Others grow quickly but don’t make sure the benefits reach everyone. Imagine if you made lots of money at your lemonade stand but didn’t share with your helpers or didn’t make your stand safe and clean. That wouldn’t be fair, right?

How to Achieve Sustainable Development

To make sure a country develops in a good way, growth needs to be sustainable. This means taking care of the environment and making sure we don’t use up all the resources. It’s like using eco-friendly cups and not wasting lemons at your stand. Also, everyone in the country should be included in the growth. It’s important to help people who are poor or live in places where it’s harder to get good jobs.

The Role of Education

In conclusion, economic growth and development are about making more money and making life better for everyone in a country. It’s like running a successful lemonade stand that not only sells a lot of lemonades but also takes good care of its workers, customers, and the environment. When a country focuses on both growth and development, it’s on the path to becoming a happier, healthier place for all its people.

That’s it! I hope the essay helped you.

Happy studying!

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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.

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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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Disclaimer: All client orders are completed by our team of highly qualified human writers. The essays and papers provided by us are not to be used for submission but rather as learning models only.

Macro Economic Essays

These are a collection of essays written for my economic blogs.

Exchange Rate Essays

• Effects of a falling Dollar
• Why Dollar keeps falling
• Discuss Policies to Stop the Dollar Falling
• Does Devaluation Cause Inflation?
• Benefits and Costs of Falling Dollar
• Reasons for Falling Dollar
• The Dollar as the World’s Reserve Currency

Economic Growth Essays

• Evaluate Benefits of Economic Growth
• Essays on Recessions
• Causes of Recessions
• Problems of Recovering from a Recession
• What can Increase Long-Run Economic Growth?
• Discuss Effect of a fall in the Savings Ratio

Inflation Essays

• Discuss the Difficulties of Controlling Inflation
• Should the aim of the Government be to Attain Low Inflation?
• Explain What Can Cause a Sustained Increase in the Rate of Inflation
• Reasons for low inflation in the UK
• Inflation Explained
• Difficulties of Inflation targeting
• Hyperinflation

Unemployment Essays

• Explain what is meant by Natural Rate of Unemployment?
• Should the Main Macro Economic Aim of the Government be Full Employment?
• The True Level of Unemployment in the UK
• What explains low inflation and low unemployment in the UK?

Demand Side Policies

• Discuss effect of Expansionary demand-side policies on Balance of Payments and Environment
• Effects of a Falling Stock Market
• How do Mortgage Defaults affect and Economy?
• Discuss the effect of increased Government spending on education
• Phillips Curve – Trade-off between Inflation and Unemployment

Development Economics

• Why Growth may not benefit developing countries
• Does Aid Increase Economic Welfare?
• Problems of Free Trade for Developing Economies

Fiscal Policy

• Will US Economy benefit from Tax Cuts?
• Can Fiscal Policy solve Unemployment?
• Explain Reasons for UK Current Account Deficit
• Benefits of Globalisation for Developing and Developed Countries

Monetary Policy

• Discuss Effects of an Increase in Interest Rates
• How MPC set Interest Rates
• Benefits of High-Interest Rates (and recessions)
• Who Sets interest rates – Markets or Bank of England?

Economic History

• Economics of the 1920s
• What Caused Wall Street Crash of 1929?
• UK economy under Mrs Thatcher
• Economy of the 1970s
• Lawson Boom of the 1980s
• UK recession of 1991
• The great recession 2008-13

General Economic Essays

• The Dismal Science
• Difference Between Economists and Non Economists
• War and Recessions
• The Economics of Fear
• The Economics of Happiness
• Can UK and US avoid Recession?
• 3 Of the Worst Economic Policies
• Overvalued Housing Markets
• What Went Wrong with US Economy?
• Problem with Bailing out financial sector
• Problems of Personal Debt
• Problem of Inflation
• National Debt in the UK
• How To Survive a Recession
• Can A recession be a good thing?

Chinese Economy

• Problems of Chinese Economic Growth
• Should we worry about a strong China
• Chinese Growth and Costs of Growth
• Chinese Interest Rates and Economic Growth

Model essays

• A2 model essays
• AS model essays
• Top 10 Reasons For Studying Economics
• Inflation explained by Victor Borge
• Funny Exam Answers
• Humorous look at Subprime crisis

What is economic growth? And why is it so important?

The goods and services that we all need are not just there – they need to be produced – and growth means that their quality and quantity increase..

Good health, a place to live, access to education, nutrition, social connections, respect, peace, human rights, a healthy environment, and happiness. These are just some of the many aspects we care about in our lives.

At the heart of many of these aspects that we care about are needs for which we require particular goods and services . Think of those that are needed for the goals on the list above – the health services from nurses and doctors, the home you live in, or the teachers who provide education.

Poverty, prosperity, and growth are often measured in monetary terms, most commonly as people’s income. But while monetary measures have some important advantages, they have the big disadvantage that they are abstract. In the worst case, monetary measures – like GDP per capita – are so abstract that we forget what they are actually about: people’s access to goods and services.

The point of this text is to show why economic growth is important and how the abstract monetary measures tell us about the reality of people’s material living conditions around the world and throughout history:

• In the first part, I want to explain what economic growth is and why it is so difficult to measure.
• In the second part, I will discuss the advantages and disadvantages of several measures of growth, and you will find the latest data on several of these measures so that we can see what they tell us about how people’s material living conditions have changed.

What are these goods and services that I’m talking about?

Have a look around yourself right now. Many of the things you see are products that were produced by someone so that you can use them: the trousers you are wearing, the device you are reading this on, the electricity that powers it, the furniture around you, the toilet that is nearby, the sewage system it is connected to, the bus or car or bicycle you took to get where you are, the food you had this morning, the medications you will receive when you get sick, every window in your home, every shirt in your wardrobe, and every book on your shelf.

At some point in the past, many of these products were not available. The majority did not have access to the most basic goods and services they needed. A recent study on the history of global poverty estimates that just two centuries ago, roughly three-quarters of the world "could not afford a tiny space to live, food that would not induce malnutrition, and some minimum heating capacity.” 1

Let’s look at the history of the last item on that list above, books.

A few centuries ago, the only way to produce a book was for a scribe to copy it word-for-word by hand. Book production was a slow process; it took a scribe about eight months of daily work to produce a single copy of the Bible. 2

It was so laborious that only very few books were produced. The chart shows the estimates of historians. 3

But then, in the 15th century, the goldsmith Johannes Gutenberg combined the idea of movable letters with the mechanism that he knew from the wine presses in his hometown. He developed the printing press. Gutenberg developed a new production technology, and it changed things dramatically. Instead of spending months to produce one book, a worker was now able to produce several books a day.

As the printing press spread across Europe, book production soared. Books, which were previously only available to a tiny elite, became available to more and more people.

This is one example of how growth is possible and what economic growth is : an increase in the production of goods and services that people produce for each other.

A list of goods and services that people produce for each other

Before we get to a more detailed definition of economic growth, it’s helpful to remind ourselves of the astonishingly wide range of goods and services that people produce. I think this is helpful because measures of economic output can easily become abstract. This abstraction means we easily lose the mental connection to the goods and services such measures actually talk about.

This list of goods and services isn’t meant as a definitive list, but it helped me to think about the relevance of poverty and growth: 4

At home: Light in your home at night; the sewage system; a shower; vacuum cleaner; fridge; heating; air conditioning; electricity; windows; a toilet – even a flush toilet; soap; a balcony or a garden; running water; warm water; cutlery and dishes; a hut – or even a warm apartment or house; an oven; sewing machine; a stove (that doesn’t poison you ); carpet; toilet paper; trash bags; music recordings or even online streaming of the world’s music and film; garbage collection; radio; television; a washing machine; 5 furniture; telephone; a comfortable bed, and a room for one’s own.

Food: The most fundamental need is to have enough food. For much of human history, a large share of people suffered from hunger , and millions still do .

But we also need to have a richer and more varied diet to get all of the nutrients we need. Unfortunately, billions still suffer from micronutrient deficiency .

Also, think of clean drinking water; reliable markets and stores with a wide range of available goods; food that rarely poisons you (pasteurized milk, for example); spices; tea and coffee; kitchen utensils and practical ingredients (from a bag of flour to canned soups or a yogurt); chocolate and sweets; fresh fruit and vegetables; bread; take-away food or the possibility to go to a restaurant; ways to protect your food from spoiling (from the cold chain that delivers the goods to the cellophane to wrap it with); wine or beer; fertilizer ( very important); and tractors to work the fields.

Knowledge: Education from primary up to university level; books; data that allows us to understand the world around us; newspapers; vocational training; kindergartens; and scientific knowledge to understand ourselves and the world around us.

Infrastructure: Public transportation with buses, subways, and trains; roads; paved roads; airplanes; bridges; financial services (including bank accounts, ATMs, and credit cards); cities; a network of competent workers that can help you to fix problems; postal services (that delivers fast); national parks; street cleaning; public swimming pools (even private pools); firefighters; parks; online shopping; weather forecasts; and a waste management system.

Tools and technologies: Pencils, ballpoint pens, and paper; lawnmowers; cars; car mechanics; bicycles; power tools like drills (even battery-powered ones); a watch; computers and laptops; smartphones (with GPS and a good camera); being able to stay in touch with distant friends or family members (or even visiting them); GPS; batteries; telephones and mobiles; video calls; WiFi; and the internet right here.

Social services: Caretakers for those who are disabled, sick, or elderly; protection from crime; non-profit organizations financed by the public, by donations or by philanthropies; insurance (against many different risks); and a legal system with judges and lawyers that implement the rule of law.

There is also a wide range of transfer payments, which in themselves are not services (they are transfers) but which become more affordable as a society becomes more prosperous: sick leave and disability benefits; unemployment benefits; and being able to help others with a regular donation of some of your income to an effective charity . 6

Life and free time : tents; travel and holidays; surfboards; skis; board games; hotels; playgrounds; children’s toys; courses to learn hobbies (from painting to musical instruments or courses on the environment around us); a football; pets; the cinema, theater or a music concert; clothes (even comfortable and good-looking ones that keep you warm and protect you from the rain); shoes (even shoes for different purposes); shoe repair; the contraceptive pill and the ability to choose if and when to have children; sports classes from rock climbing to pilates and yoga; cigarettes (not all goods that people produce for each other are good for them); 7 a musical instrument; a camera; and parties to celebrate life.

Health and staying well: Dentists; antibiotics; surgeries; anesthesia; mental health care from psychologists and psychiatrists; vaccines; public sewage; a haircut; a massage; midwives; ambulances; modern medicine; band-aids; pharmaceutical drugs; sanitary pads; toothbrushes; dental floss (some do floss); disinfectants; glasses; sunglasses; contact lenses; hearing aids; and hospitals – including very well-equipped, modern hospitals that offer CT scans, which include intensive care units and allow heart or brain surgery or organ transplants.

Specific needs and wishes: Most of the products listed above are generally helpful to people. But often, the goods and services that are most important to one individual are very specific.

As I’m writing this, I have a big cast on my left leg after I broke it. These days, I depend on products that I had no use for just three weeks ago. To move around, I need two long crutches, and to prevent thrombosis, I need to inject a blood thinner every day. After I broke my leg, I needed the service of nurses and doctors. They had to rely on a range of medical equipment, such as X-ray machines. To get back on my feet, I might need the service of physiotherapists.

We all have very specific needs or wishes for particular goods and services. Some needs arise from bad luck, like an injury. Others are due to a new phase in life – think of the specific goods and services you need when you have a baby or when you take care of an elderly person. And yet others are due to specific interests – think of the needs of a fisherman, or a pianist, or a painter.

All of these goods and services do not just magically appear. They need to be produced. At some point in the past, the production of most of them was zero, and even the most essential ones were extremely scarce. So, if you want to know what economic growth means for your life, look at the list above.

What is economic growth?

So, how can we define what economic growth is?

A definition that can be found in so many publications that I don’t know which one to quote is that economic growth is “an increase in the amount of goods and services produced per head of the population over a period of time.”

The definition in the Oxford Dictionary is almost identical: “Economic growth is the increase in the production of goods and services per head of population over a stated period of time”. And the definition in the Cambridge Dictionary is similar. It defines growth as “an increase in the economy of a country or an area, especially of the value of goods and services the country or area produces.”

In the following footnote, you find more definitions. Bringing these definitions together and taking into account the economic literature more broadly, I suggest the following definition: Economic growth is an increase in the quantity and quality of the economic goods and services that a society produces.

I prefer a definition that is slightly longer than most others. If you want a shorter definition, you can speak of ‘products’ rather than ‘goods and services’, and you can speak of ‘value’ rather than mentioning both the quantity and quality aspects separately.

The most important change in quantity is from zero to one when a new product becomes available. Many of the most important changes in history became possible when new goods and services were developed; think of antibiotics, vaccines, computers, or the telephone.

You find more thoughts on the definition of growth in the footnote. 8

What are economic goods and services?

Many definitions of economic growth simply speak of the production of ‘goods and services’ collectively. This sidesteps a key difficulty in its definition and measurement. Economic growth is not concerned with all goods and services but with a subset of them: economic goods and services.

In everything we do – even in our most mundane activities – we continuously ‘produce’ goods and services in some form. Early in the morning, once we’ve brushed our teeth and made ourselves toast, we have already produced one service and one good. Should we count the tooth-brushing and the toast-making towards the economic production of the country we live in? The question of where to draw the line isn’t easy to answer. But we have to draw the line somewhere. If we don’t, we end up with a concept of production that is so broad that it becomes meaningless; we’d produce a service with every breath we take and every time we scratch our nose.

The line that we have to draw to define the economic goods and services is called the ‘production boundary’. The sketch illustrates the idea. The production boundary defines those goods and services that we consider when we speak about economic growth.

For a huge number of goods or services, there is no question that they are of the ‘economic’ type. But for some of them, it can be complicated to decide on which side of the production boundary they fall. One example is the question of whether the production of illegal goods should be included. Another is whether production within a household should be included – should we consider it as economic production if we grow tomatoes in our backyard and make soup from them? Different authors and different measurement frameworks have given different answers to these questions. 9

There are some characteristics that are helpful in deciding on which side of the boundary a particular product falls. 10 Economic goods and services are those that can be produced and that are scarce in relation to the demand for them. They stand in contrast to free goods, like sunlight, which are abundant, or those many important aspects in our lives that cannot be produced, like friendships. 11 Our everyday language has this right: we don’t refer to the sun or our friendships as a good or service that we ‘produce’.

An economic good or service is provided by people to each other as a solution to a problem they are faced with, and this means that they are considered useful by the person who demands it.

A last characteristic that helps decide whether you are looking at an economic product is “delegability”. An activity is considered to be production in an economic sense if it can be delegated to someone else. This would include many of the goods and services on that long list we considered earlier but would exclude your breathing, for example.

Because economic goods are scarce in relation to the demand for them, human effort is required to produce them. 12 A shorter way of defining growth is, therefore, to say that it is an increase in the production of those products that people produce for each other.

The majority of goods and services on that long list above are uncontroversially of the economic type – everything from the light bulbs and furniture in your home to the roads and bridges that connect your home with the rest of the world. They are scarce in relation to the demand for them and have to be produced by someone; their production is delegable, and they are considered useful by those who want them.

It’s worth recognizing that many of the difficulties in defining the production boundary arise from the effort to make measures of economic production as comparable as possible.

To give just one concrete example of the type of considerations that make the discussion about specific definitions so difficult, let’s look at how the production boundary is drawn in the housing sector.

Imagine two countries that are identical except for one aspect: home ownership. In Country A, everyone rents their homes, and the total sum of annual rent amounts to €2 billion per year. In Country B, everyone owns their own home, and no one pays rent. To provide housing is certainly an economic service, but if we only counted monetary transactions, then we would get the false impression that the value of goods and services in Country A is €2 billion higher than in Country B. To avoid such misjudgment, the production boundary includes the housing services that are provided without any monetary transactions. In National Accounts, statisticians take into account the “imputed rental value of owner-occupied housing” – those households who own their home get assigned an imputed rental value. In the imagined scenario, these imputed rents would amount to €2 billion in Country B so that the prosperity of people in these two countries would be judged to be identical.

It is the case more broadly that National Account figures (like GDP) do include important non-market goods and services that are not included in household survey measures of people’s income. GDP does not only include the housing services by owner-occupied housing but also the provision of most goods and services that are provided by the government or nonprofit institutions.

How can we measure economic growth?

Many discussions about economic growth are extraordinarily confusing. People often talk past one another.

I believe the key reason for this is that the discussion of what economic growth is gets muddled up with how it is measured .

While it is straightforward enough to define what growth is, measuring growth is very, very difficult.

In the worst cases, measures of growth are mixed up with a definition of growth. Growth is often measured as an increase in income or inflation-adjusted GDP per capita. But these measures are not the definition of it – just like life expectancy is a measure of population health but is certainly not the definition of population health.

To see how difficult it is to measure growth, take a moment to think about how you would measure it. How would you determine whether the quantity and quality of all economic goods and services produced by a society increased or decreased over time?

Finding a measure means that you have to find a way to express a huge amount of relevant information in a single metric. As the sketch shows, you have to first measure the quantity and quality of all the many, many goods and services that get produced and then find a way to aggregate all of these measurements into one summarizing metric. No matter what measure you propose for such a difficult task, there will always be problems and shortcomings in any proposal you might make.

In the following section, I will show four possible ways of measuring growth and present some data for each of them to see how they can inform us about the history of material living conditions.

Measuring economic growth by tracking access to particular goods and services

One possible way to measure growth is to make a list of some specific products that people want and to see what share of the population has access to them.

We do this very often at Our World in Data . The chart here shows the share of the world population that has access to four basic resources. All of these statistics measure some particular aspect of economic growth.

You can switch this chart to any country in the world via the “Change country” option. You will find that, judged by this metric, some countries achieved rapid growth – like Indonesia – while others only saw very little growth, like Chad.

The advantage of measuring growth in this way is that it is concrete. It makes clear what exactly is growing, and it’s clear which particular goods and services people gain access to.

The downside is that it only captures a small part of economic growth. There are many other goods and services that people want in addition to water, electricity, sanitation, and cooking technology. 13

You could, of course, expand this approach of measuring growth to many more goods and services, but this is usually not done for both practical and ethical considerations:

One practical reason is that a list of all the products that people value would be extremely long. Keeping lists that track people’s access to all products would be a daunting task: hundreds of different toothbrushes, thousands of different dentists, hundreds of thousands of different dishes in different restaurants, and many millions of different books. 14 If you wanted to measure growth across all goods and services in this way, you’d soon employ half the country in the statistical office.

In practice, any attempt to measure growth as access to particular products, therefore, means that you look only at a relatively small number of very particular goods and services that statisticians or economists are interested in. This is problematic for ethical reasons. It should not be up to the statisticians or economists to determine which few products should be considered valuable.

You might have realized this problem already when you read my list at the beginning of this text. You might have disagreed with the things that I put on that list and thought that some other goods and services were missing. This is why it is important to track incomes and not just access to particular goods: measuring people’s income is a way of measuring the options that they have rather than the choices that they make. It respects people’s judgment to decide for themselves what they find most important for their lives.

On our site, you find many more such metrics of growth that capture whether people have access to particular goods and services:

• This chart shows the share of US households having access to specific technologies.
• This chart shows the share that has health insurance.
• This chart shows access to schools.

Measuring economic growth by tracking the ratio between people’s income and the prices of particular goods and services

To measure the options that a person’s income represents, we have to compare their income with the prices of the goods and services that they want. We have to look at the ratio between income and prices.

The chart here does this for one particular product – books – and brings us back to the history of growth in the publishing sector that we started with. 15 Shown is the ratio between the average income that a worker receives and the price of a book. It shows how long the average worker had to work to buy one book. Note that this data is plotted on a logarithmic axis.

Before the invention of the printing press in the 15th century, the price was often as high as several months of work. The fact that books were unaffordable for almost everyone should not be surprising. It corresponds to what we’ve seen earlier that it took a scribe several months to produce a single book.

The chart also shows how this changed when the printing press increased the productivity of publishing. As the labor required to produce a book declined from many months of work to less than a day, the price fell from months of wages to mere hours.

This shows us how an innovation in technology raises productivity and how an increase in production makes it more affordable. How it increases the options that people have.

Global inequality: How do incomes compare in countries around the world?

In the previous section, we measured growth as the ratio between income and the price of one particular good. But of course, we could do the same for all the many goods and services that people want. This ratio – the ratio between the nominal income that people receive and the prices that people have to pay for goods and services – is called ‘real income’ . 16

Real income = Nominal income / price of goods and services

Real income grows when people’s nominal income increases or when the prices of goods and services decrease.

In contrast to many of the other metrics on Our World in Data, a person’s real income does not matter for its own sake but because it is a means to an end. A means to many ends, in fact.

Economic growth – measured as an increase in people’s real income – means that the ratio between people’s income and the prices of what they can buy is increasing: goods and services become more affordable, and people become less poor. It is because a person has more choices as their income grows that economists care so much about these monetary measures of prosperity.

The two most prominent measures of real income are GDP per capita and people’s incomes, as determined through household surveys.

They are shown in this chart.

Before we get back to the question of economic growth, let’s see what these measures of real income tell us about the economic inequality in the world today.

Both measures show that global inequality is very large. In a rich country like Denmark, an average person can purchase goods and services for $54 a day, while the average Ethiopian can only afford goods and services that cost $3 per day.

Both measures of real incomes in this chart are measured in international dollars, which means that they take into account the level of prices in each country (using purchasing power parity conversion factors). This price adjustment is done in such a way that one international-$ is equivalent to the purchasing power of one US-$ in the US . An income of int.-$3 in Ethiopia, for example, means that it allows you to purchase goods and services in Ethiopia that would cost US-$3 in the US . All dollar values in this text are given in international dollars, even though I often shorten it to just the $-sign.

If you are living in a rich country and you want to have a sense of what it means to live in a poor country – where incomes are 20 times lower – you can imagine that the prices for everything around you suddenly increase 20-fold. 17 If all the things you buy suddenly get 20-times more expensive your real income is 20-times lower. A loaf of bread doesn’t cost $2 but $40, a pair of jeans costs $400, and an old car costs $40,000. If you ask yourself how these price increases would change your daily consumption and your day-to-day life, you can get a sense of what it means to live in a poor country.

The two shown measures of real income differ:

• The data on the vertical axis is based on surveys in which researchers go from house to house and ask people about their economic situation. In some countries, people are asked about their income, while in other countries, people are asked about their expenditure – expenditure is income minus savings. In poor countries, these two measures are close to each other since poor people do not have the chance to save much.
• On the other hand, GDP per capita starts at the aggregate level and divides the income of the entire economy by the number of people in that country. GDP per capita is higher than per capita survey income because GDP is a more comprehensive measure of income. As we’ve discussed before, it includes an imputed rental value of owner-occupied housing and other differences, such as government expenditure.

Income as a measure of economic prosperity is much more abstract than the metrics we looked at previously. The comparison of incomes of people around the world in this scatterplot measures options, not choices. It shows us that the economic options for billions of people are very low. The majority of the world lives on very low incomes of less than $20, $10, or even $5 per day. In the next section, we’ll see how poverty has changed over time.

• GDP per capita vs. Daily income of the poorest 10%
• GDP per capita vs. Daily average income

Global poverty and growth: How have incomes changed around the world?

Economic growth, as we said before, is an increase in the production of the quantity and quality of the economic goods and services that a society produces. The total income in a society corresponds to the total sum of goods and services the society produces – everyone’s spending is someone else’s income. This means that the average income corresponds to the level of average production, so that the average income in a society increases when the production of goods and services increases.

Average production = average income

In this final section, let’s see how incomes have changed over time, first as documented in survey incomes and then via GDP per capita.

Measuring economic growth by tracking incomes as reported in household surveys

The chart shows the income of people around the world over time, as reported in household surveys. It shows the share of the world population that lives below different poverty lines: from extremely low poverty lines up to $30 per day, which corresponds to notions of poverty in high-income countries .

Many of the poorest people in the world rely on subsistence farming and do not have a monetary income. To take this into account and make a fair comparison of their living standards, the statisticians who produce these figures estimate the monetary value of their home production and add it to their income.

Again, the prices of goods and services are taken into account: these are measures of real incomes. As explained before, incomes are adjusted for price differences between countries, and they are also adjusted for inflation. As a consequence of these two adjustments, incomes are expressed in international dollars in 2017 prices, which means that these income measures express what you would have been able to buy with US dollars in the US in 201 7.

Global economic growth can be seen in this chart as an increasing share of the population living on higher incomes. In 2000 two thirds of the world lived on less than $6.85 per day. In the following 19 years, this share fell by 22 percentage points.

In 2020 and 2021 — during the economic recession that followed the pandemic — the size of the world economy declined, and the share of people in poverty increased . As soon as global data for this period is available, we will update this chart.

The data shows that global poverty has declined, no matter what poverty line you choose. It also shows that the majority of the world still lives on very low incomes. As we’ve seen, we can describe the same reality from the production side: the global production of the goods and services that people want has increased, but there is still not enough production of even very basic products. Most people in the world do not have access to them.

An advantage of household survey data over GDP per capita is that it captures the inequality of incomes within a country. You can explore this inequality with this chart by switching to see the data for an individual country via the ‘Change country’ button.

Measuring economic growth by tracking GDP per capita

GDP per capita is a broader measure of real income, and in contrast to survey income, it also takes government expenditures into account. A lot of thinking has gone into the construction of this very prominent metric so that it is comparable not only over time but also across countries. This makes it especially useful as a measure to understand the economic inequality in the world, as we’ve seen above. 18

Another advantage of this measure is that historians have reconstructed estimates of GDP per capita that go back many centuries. This historical research is an extremely laborious task , and researchers have dedicated many years of work to these reconstructions. The ‘Maddison Project’ brings together these long-run reconstructions from various researchers, and thanks to these efforts, we have a good understanding of how incomes have changed over time.

The chart shows how average incomes in different world regions have changed over the last two centuries. Looking at the latest data, you see again the very large inequality between different parts of the world today. You now also see the history of how we got here: small increases in production in some world regions and very large increases in those regions where people have the highest incomes today.

One of the very first countries to achieve sustained economic growth was the United Kingdom. In this chart, we see the reconstructions of GDP per capita in the UK over the last centuries.

It is no accident that the shape of this chart is very similar to the chart on book production at the beginning of this text – very low and almost flat for many generations and then quickly rising. Both of these developments are driven by changes in production.

Average income corresponds to average production, and societies around the world were able to produce very few goods and services in the past. There were no major exceptions to this reality. As we see in this chart, global inequality was much lower than today: the majority of people around the world were very poor.

To get a sense of what this means, you can again take the approach we’ve used to understand the inequality in the world today. When incomes in today’s rich countries were 20 times lower, it was as if all the prices around you today would suddenly increase 20-fold. But in addition to this, you have to consider that all the goods and services that were developed since then disappeared – no bicycle, no internet, no antibiotics. All that’s left for you are the goods and services of the 17th century, but all of them are 20 times more expensive than today. The majority of people around the world, including in today’s richest countries, live in deep poverty.

Just as we’ve seen in the history of book production, this changed once new production technologies were introduced. The printing press was an exceptionally early innovation in production technology; most innovations happened in the last 250 years. The starting point of this rise out of poverty is called the Industrial Revolution.

The printing press made it possible to produce more books. The many innovations that made up the Industrial Revolution made it possible to increase the production of many goods and services. Compare the effort that it takes for a farmer to reap corn with a scythe to the possibilities of a farmer with a tractor or a combined harvester, or think of the technologies that made overland travel faster – from walking on foot to traveling in a horse buggy to taking the train or car; or think of the effort it took to build those roads that the buggies once traveled on with the modern machinery that allows us to produce the corresponding public infrastructure today .

The production of a myriad of different goods and services followed trajectories very similar to the production of books – flat and low in the past and then steeply increasing. The rise in average income that we see in this chart is the result of the aggregation of all these production increases.

In the past, before societies achieved economic growth, the only way for anyone to become richer was for someone else to become poorer; the economy was a zero-sum game. In a society that achieves economic growth, this is no longer the case. When average incomes increase, it becomes possible for people to become richer without someone else becoming poorer.

This transition from a zero-sum to a positive-sum economy is the most important change in economic history (I wrote about it here ) and made it possible for entire societies to leave the extreme poverty of the past behind.

Conclusion: The history of global poverty reduction has just begun

The chart shows the global history of extreme poverty and economic growth.

In the top left panel, you can see how global poverty has declined as incomes increased; in the other eight panels, you see the same for all world regions separately. The starting point of each trajectory shows the data for 1820 and tells us that two centuries ago, the majority of people lived in extreme poverty, no matter where in the world they were at home.

Back then, it was widely believed that widespread poverty was inevitable. But this turned out to be wrong. The trajectories show how incomes and poverty have changed in each world region. All regions achieved growth – the goods and services that people need saw their production and quality increase – and the share living in extreme poverty declined. 19

This historical research was done by Michail Moatsos and is based on the ‘cost of basic needs’-approach as suggested by Robert Allen (2017) and recommended by the late Tony Atkinson. 20 The name ‘extreme poverty’ is appropriate as this measure is based on an extremely low poverty threshold. It takes us back to what I mentioned at the very beginning; this historical research tells us – as the author puts it – that three-quarters of the world "could not afford a tiny space to live, food that would not induce malnutrition, and some minimum heating capacity.”

Since then, all world regions have made progress against extreme poverty – some much earlier than others – but in particular, in Sub-Saharan Africa, the share of people living in deep poverty is still very high.

The last two centuries were the first time in human history that societies have achieved sustained economic growth, and the decline of global poverty is one of the most important achievements in history. But it is still a very long way to go.

This is what we see in this final chart. The red line shows the share of people living in extreme poverty that we just discussed. Additionally, you now also see the share living on less than $3.65, $6.85, and $30 per day. 21

The world today is very unequal, and the majority of the world still lives in poverty: 47% live on less than $6.85 per day, and 84% live on less than $30. Even after two centuries of progress, we are still in the early stages. The history of global poverty reduction has only just begun.

That the world has made substantial progress but nevertheless still has a long way to go is the case for many of the world’s very large problems. I’ve written before that all three statements are true at the same time: The world is much better, the world is awful, and the world can be much better. This is very much the case for global poverty. The world is much less poor than in the past, but it is still very poor, and it remains one of the largest problems we face.

Some writers suggest we can end poverty by simply reducing global inequality. This is not the case. I’m very much in favor of reducing global inequality, and I hope I do what I can to contribute to this. But it is important to be clear that a reduction of inequality alone would still mean that billions around the world would live in very poor conditions. Those who don’t see the importance of growth are not aware of the extent of global poverty. The production of many crucial goods and services has to increase if we want to end it. How much economic growth is needed to achieve this? This is the question I answered in this recent text .

To solve the problems we face, it is not enough to increase overall production. We also need to make good decisions about which goods and services we want to produce more of and which ones we want less of. Growth doesn’t just have a rate, it also has a direction, and the direction we choose matters – for our own happiness and for achieving a sustainable future .

I hope this text was helpful in making clear what economic growth is. It is necessary to remind ourselves of that because we mostly talk about poverty and growth in monetary terms. The monetary measures have the disadvantage that they are abstract, perhaps so abstract that we even forget what growth is actually about and why it is so important. The goods and services that we all need are not just there – they need to be produced – and economic growth means that the quality and quantity of these goods and services increase, from the food that we eat to the public infrastructure we rely on.

The history of economic growth is the history of how societies leave widespread poverty behind by finding ways to produce more of the goods and services that people need – all the very many goods and services that people produce for each other: look around you now.

Acknowledgments: I would like to thank Joe Hasell and Hannah Ritchie for very helpful comments on draft versions of this article.

Our World in Data presents the data and research to make progress against the world’s largest problems. This article draws on data and research discussed in our topic pages on Economic Inequality , Global Poverty , and Economic Growth .

Version history: In October 2023, I copy-edited this article; it was a minor update, and nothing substantial was changed.

Michail Moatsos (2021) – Global extreme poverty: Present and past since 1820. Published in OECD (2021), How Was Life? Volume II: New Perspectives on Well-being and Global Inequality since 1820 , OECD Publishing, Paris, https://doi.org/10.1787/3d96efc5-en .

At the time when material prosperity was so poor, living conditions were extremely poor in general; close to half of all children died .

Historian Gregory Clark reports the estimate that scribes were able to copy about 3,000 words of plain text per day.

See Clark (2007) – A Farewell to Alms: A Brief Economic History of the World. Clark (2007). In it, Clark quotes his earlier working paper with Patricia Levin as the source of these estimates. Gregory Clark and Patricia Levin (2001) – “How Different Was the Industrial Revolution? The Revolution in Printing, 1350–1869.”

There are about 760,000 words in the bible (it differs between various translations and languages; here is an overview of some translations).

This implies that the production of one copy of the Bible meant 253.3 days (8.3 months) of daily work.

Copying the text was not the only step in the production process for which productivity was low. The ink had to be made, parchment had to be produced and cut, and many other steps involved laborious work.

Wikipedia’s article about scribes reports sources that estimate that the production time per bible was even longer than 8 months.

Clark himself states in the same publication that “Prior to that innovation, books had to be copied by hand, with copyists on works with just plain text still only able to copy 3,000 words per day. Producing one copy of the Bible at this rate would take 136 man-days.” Since the product of 136 and 3000 is only 408,000, it is unclear to me how Clark has arrived at this estimate – 408,000 words are fewer words than in the Tanakh and other versions of the bible.

The data is taken from Eltjo Buringh and Jan Luiten Van Zanden (2009) – Charting the “Rise of the West”: Manuscripts and Printed Books in Europe, a Long-Term Perspective from the Sixth through Eighteenth Centuries. In The Journal of Economic History Vol. 69, No. 2 (June 2009), pp. 409-445. Online here .

Western Europe in this study is the area of today’s Great Britain, Ireland, France, Belgium, Netherlands, Germany, Switzerland, Italy, Spain, Sweden, and Poland.

On the history and economics of book production, see also the historical work of Jeremiah Dittmar.

I’ve relied on several sources to produce this list. One source was the simple descriptions of the consumption bundles that are relied upon for CPI measurement – like this one from Germany’s statistical office . And I have also relied on the national accounts themselves.

This list is also inspired partly by this list of Gwern and I’m also grateful for the feedback that I got via Twitter to earlier versions of this list. [ Here I shared the list on Twitter ]

This is Hans Rosling’s talk on the magic of the washing machine – worth watching if you haven’t seen it.

Of course all of these transfer payments have a service component to them, someone is managing the payment of the disability benefits etc.

Because smoking causes a large amount of suffering and death I do not find cigarettes valuable, but my opinion is not what matters for a list of goods and services that people produce for each other. Whether some good is considered to be part of the domestic product depends on whether it is a good that some people want, not whether you or I want it. More on this below.

Very similar to the definitions given above is the definition that Kimberly Amadeo gives: “Economic growth is an increase in the production of goods and services over a specific period.”

“Economic growth is an increase in the production of economic goods and services, compared from one period of time to another” is the definition at Investopedia .

Alternatively, to my definition, I think it can be useful to think of economic growth as not directly concerned with the output as such but with the capacity to produce this output. The NASDAQ’s glossary defines growth in that way: “An increase in the nation's capacity to produce goods and services.”

Wikipedia defines economic growth as follows: “Economic growth can be defined as the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.” Definitions that are based on how growth is measured strike me as wrong – just like life expectancy is a measure of population health and hardly the definition of population health. I will get back to this mistake further below in this text.

An aspect that I emphasize more explicitly than others is the quality of the goods and services. People obviously do just care about the number of goods, and in the literature on growth, the measurement of changes in quality is a central question. Many definitions speak more broadly about the ‘value’ of the goods and services that are produced, but I think it is worth emphasizing that growth is also concerned with a rise in the quality of goods and services.

OECD – Measuring the Non-Observed Economy: A Handbook .

The relevant numbers are not small. For the US alone, “illegal drugs add $108 billion to measured nominal GDP in 2017, illegal prostitution adds $10 billion, illegal gambling adds $4 billion, and theft from businesses adds $109 billion” if they were to be included in the US National Accounts. This is according to the report by Rachel Soloveichik (2019) – Including Illegal Activity in the U.S. National Economic Accounts . Published by the BEA.

Ironmonger (2001) – Household Production. In International Encyclopedia of the Social & Behavioral Sciences. Pages 6934-6939. https://doi.org/10.1016/B0-08-043076-7/03964-4

Or for some longer run data on the US: Danit Kanal and Joseph Ted Kornegay (2019) – Accounting for Household Production in the National Accounts: An Update, 1965–2017 . In the Survey of Current Business.

Helpful references that discuss how the production boundary is drawn (and how it changed over time) are: Lequiller and Blades – Understanding National Accounts (available in various editions) Diane Coyle (2016) – GDP: A Brief but Affectionate History https://press.princeton.edu/books/paperback/9780691169859/gdp

The definition of the production boundary by Statistics Finland

Itsuo Sakuma (2013) – The Production Boundary Reconsidered. In The Review of Income and Wealth. Volume 59, Issue 3; Pages 556-567.

Diane Coyle (2017) – Do-it-Yourself Digital: The Production Boundary and the Productivity Puzzle. ESCoE Discussion Paper 2017-01, Available at SSRN: http://dx.doi.org/10.2139/ssrn.2986725

A more general way of thinking about free goods and services is to consider them as those for which the supply is hugely greater than the demand.

Their production, therefore, has an opportunity cost, which means that if someone obtains an economic good, someone is giving up on something for it – this can either be the person themselves or society more broadly. Free goods, in contrast, are provided with zero opportunity cost to society.

It is also the case that the international statistics on these measures often have very low cutoffs for what it means ‘to have access’; this is, for example, the case for what it means to have access to energy.

10 years ago, Google counted there were 129,864,880 different books, and since then, the number has increased further by many thousands of new books every day.

This chart is from Jeremiah Dittmar and Skipper Seabold (2019) – New Media New Knowledge – How the printing press led to a transformation of European thought . I was unfortunately not able to find the raw data anywhere and could not redraw this chart; if someone knows where this (or comparable) data can be found, please let me know.

In the language of economists, the nominal value is measured in terms of money, whereas the real value is measured against goods or services. This means that the real income is the income adjusted for inflation (it is adjusted for the changes in prices of goods and services). Thereby, it allows comparisons that tell us the quantity and quality of the goods and services that people were able to purchase at different points in time.

I learned this way of thinking about it from Twitter user @Kirsten3531, who responded with this idea to a tweet of mine here https://twitter.com/Kirsten3531/status/1389553625308045317

We’ve discussed one such consideration that is crucial for comparability when we consider how to take into account the value of owner-occupied housing.

Whether economic growth translates into the reduction of poverty depends not only on the growth itself but also on how the distribution of income changes. The poverty metrics shown in this chart and in previous charts take both of these aspects – the average level of production/income and its distribution – into account.

Jutta Bolt and Jan Luiten van Zanden (2021) – The GDP data in the chart is taken from The Long View on Economic Growth: New Estimates of GDP, How Was Life? Volume II: New Perspectives on Well-being and Global Inequality since 1820 , OECD Publishing, Paris, https://doi.org/10.1787/3d96efc5-en .

The latest data point for the poverty data refers to 2018, while the latest data point for GDP per capita refers to 2016. In the chart, I have chosen the middle year (2017) as the reference year.

The ‘cost of basic needs’-approach was recommended by the ‘World Bank Commission on Global Poverty’, headed by Tony Atkinson, as a complementary method in measuring poverty.

The report for the ‘World Bank Commission on Global Poverty’ can be found here .

Tony Atkinson – and, after his death, his colleagues – turned this report into a book that was published as Anthony B. Atkinson (2019) – Measuring Poverty Around the World. You find more information on Atkinson’s website .

The CBN-approach Moatsos’ work is based on what was suggested by Allen in Robert Allen (2017) – Absolute poverty: When necessity displaces desire. In American Economic Review, Vol. 107/12, pp. 3690-3721, https://doi.org/10.1257/aer.20161080 .

Moatsos describes the methodology as follows: “In this approach, poverty lines are calculated for every year and country separately, rather than using a single global line. The second step is to gather the necessary data to operationalize this approach alongside imputation methods in cases where not all the necessary data are available. The third step is to devise a method for aggregating countries’ poverty estimates on a global scale to account for countries that lack some of the relevant data.” In his publication – linked above – you find much more detail on all of the shown poverty data. The speed at which extreme poverty declined increased over time, as the chart shows. Moatsos writes, “It took 136 years from 1820 for our global poverty rate to fall under 50%, then another 45 years to cut this rate in half again by 2001. In the early 21st century, global poverty reduction accelerated, and in 13 years, our global measure of extreme poverty was halved again by 2014.”

These are the same global poverty estimates – based on household surveys – we discussed above.

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IB Extended Essay Topics: Economics

As someone with a background in the International Baccalaureate (IB) program, I’ve come to appreciate the unique challenges and opportunities it presents, especially regarding the IB DP Economics Extended Essay (EE). From my extensive experience, I can say that choosing the right topic is an essential step in achieving a high score. That’s why I’m happy to share some ideas on engaging and researchable IB Economics Extended Essay topics.

The Basics of an Economics Extended Essay

Let’s talk about what an Economics EE involves. According to the general IB criteria, this essay requires you to conduct independent research on a topic of interest in Economics, culminating in a 4,000-word paper. From my perspective, the beauty of IB DP Economics EE lies in its ability to explore complex global issues through the lens of economic theory and principles.

In my experience, the most successful economics EEs are born from a genuine passion for the subject matter. Here’s a non-exhaustive list of considerations that might help to choose a topic:

• Aim for a topic that reflects ongoing discussions within the field of economics. It could range from the impact of blockchain technology on financial markets to the economic consequences of climate change policies.
• Ensure sufficient data is available to support your research. Topics with accessible and reliable data sources allow for a more in-depth analysis and a stronger argument.
• Choose a topic that allows you to apply economic theories and concepts. It may involve analyzing market structures, evaluating economic policies, or exploring consumer behavior factors.
• Your topic should spark curiosity and engagement. Writing about something you’re genuinely interested in can make the research process more enjoyable and fulfilling.
• Consider the feasibility of your topic within the given word count and time constraints. Find a topic broad enough to explore in depth but narrow enough to be thoroughly analyzed within 4,000 words.

A high-grade economics EE doesn’t just summarize data or describe an economic situation. It critically engages with economic theories and models to analyze that data. It might involve applying the concepts of supply and demand, elasticity, market structures, or the theories of consumer choice to your chosen topic.

Topics to Read:

• How IB Prepares Students for University?
• Can You Retake the IB Exams? Guide for IB Students
• Stress Management and Well-Being for IB Students
• How to Manage Time Effectively as an IB Student
• The Benefits of Pursuing the IB Diploma Programme
• IB vs. National Curriculum. The Benefits of an International Perspective
• What Are the Average IB Acceptance Rates? Insights from an IB Expert
• What Are the IB Internal Assessment Deadlines for 2024?
• Does an IB Diploma Help with College Admissions?
• How to Make Awesome IB Notes?
• How to Get Into the IB Program? IB Preparation
• What to Wear for IB Exams? IB Dress Code

Extended Essay Topics in Economics: The Best Ideas

As mentioned above, creating an engaging and rigorous IB Extended Essay in Economics starts with choosing a theme for investigation. Below are some topics and research questions spanning various aspects of economics.

These ideas can inspire and guide IB students in their quest for a fascinating research project:

• The Impact of COVID-19 on Small Businesses in New York City . How have small businesses in New York City adapted to the economic challenges posed by the COVID-19 pandemic?
• Cryptocurrencies and the Global Economy . How do Bitcoin and other cryptocurrencies influence global trade and financial markets?
• Sustainable Agriculture and Economic Development in India . Can sustainable agriculture significantly contribute to economic development in India?
• The Economics of Renewable Energy in Germany . How cost-effective are renewable energy sources compared to traditional fossil fuels in Germany?
• Globalization and Local Economies in Mexico . What is the impact of globalization on Mexico’s manufacturing sector?
• Minimum Wage and Employment Rates in the UK Retail Industry . How does introducing a minimum wage affect employment rates in the UK retail industry?
• Economic Implications of Climate Change Policies in the European Union . How have climate change policies impacted economic growth in the European Union?
• Consumer Behavior and E-commerce in China . How has the proliferation of online shopping platforms like Alibaba changed consumer behavior in China?
• Market Structure and Competition in the Telecommunications Industry of South Korea . How does the market structure affect consumer prices and service quality in South Korea’s telecommunications industry?
• Income Inequality and Economic Growth in Brazil . Does income inequality hinder economic growth in Brazil?
• The Economics of Education and Its Impact on Economic Growth in Finland . How does the level of education affect economic growth in Finland?
• Foreign Direct Investment (FDI) and Economic Development in Vietnam . What role does FDI play in Vietnam’s economic development?
• Tourism Economics and Economic Development in Thailand . How does tourism contribute to the economic development of Thailand?
• Economic Impact of Health Crises on the Healthcare Sector in Italy. What are the long-term economic impacts of the COVID-19 pandemic on Italy’s healthcare sector?
• Technology Startups and Economic Growth in Silicon Valley, USA . How do technology startups contribute to economic growth in Silicon Valley?
• Trade Policies and Agricultural Exports in Kenya . How do trade policies affect agricultural exports in Kenya?
• Inflation and Consumer Purchasing Power in Argentina . How does inflation affect consumer purchasing power in Argentina?
• The Gig Economy and Labor Markets in the United States . How does the gig economy impact traditional labor markets in the United States?
• Public Debt and Economic Stability in Greece . How does high public debt affect economic stability in Greece?
• Economic Sanctions and Their Effectiveness Against Iran . How effective are economic sanctions in achieving political objectives against Iran?
• Gender Inequality in the Workforce and Economic Development in Japan . What impact does gender inequality have on economic development in Japan?
• Economics of Recycling and Waste Management Policies in Sweden . How does the economics of recycling impact waste management policies in Sweden?
• Housing Markets and Economic Cycles in Canada . How do housing markets affect economic cycles in Canada?
• Impact of Social Media on Consumer Spending Among Teenagers in the United States . How does social media influence consumer spending habits among teenagers?
• The Role of Microfinance in Poverty Reduction in Bangladesh . How effective is microfinance in reducing poverty in Bangladesh?
• The Economic Effects of Urbanization in Lagos, Nigeria . How does rapid urbanization affect economic development and living standards in Lagos?
• Brexit and the UK’s Financial Services Sector . What has been Brexit’s impact on London as a global financial hub?
• The Economics of Plastic Ban Policies in Rwanda . How have plastic ban policies impacted the environment and economy in Rwanda?
• The Role of Women Entrepreneurs in Economic Development in Jordan . How do women entrepreneurs contribute to economic growth and job creation in Jordan?
• Impact of Digital Currency on Traditional Banking in Sweden . How is the rise of digital currency affecting traditional banking services in Sweden?
• Agricultural Subsidies and Food Security in India . How do agricultural subsidies impact food security and farmer welfare in India?
• Economic Impact of Cultural Tourism in Kyoto, Japan . What role does cultural tourism play in Kyoto’s economy?
• Child Labor and Economic Growth in Pakistan . How does child labor affect economic growth and development in Pakistan?
• The Effectiveness of Anti-Smoking Policies on Public Health Expenditures in Australia . Have anti-smoking policies significantly reduced public health expenditures in Australia?
• The Gig Economy and Urban Transportation in New York City . How has the gig economy transformed urban transportation in New York City?
• Renewable Energy Adoption and Job Creation in Germany . How has the shift towards renewable energy affected job creation in Germany?
• The Economic Consequences of Ageing Populations in Japan . What are the economic challenges and opportunities faced by an aging population in Japan?
• The Impact of Artificial Intelligence on Manufacturing Jobs in China . How is artificial intelligence reshaping the manufacturing sector and employment in China?
• The Influence of Social Media Marketing on Consumer Spending in the Fashion Industry . How does social media marketing influence consumer spending in the fashion industry?
• Water Scarcity and Economic Development in Egypt . How does water scarcity impact agricultural productivity and economic development in Egypt?
• The Economics of Space Exploration . What are the economic benefits and costs of investing in space exploration?
• Impact of Sports Events on Local Economies . Case Study of the Olympics in Tokyo: How do major sports events like the Olympics affect the local economy of the host city?
• Sustainable Fishing Practices and Economic Viability in Norway . How do sustainable fishing practices impact the economy and environment in Norway?
• The Role of E-commerce in Rural Development in China . How does e-commerce contribute to economic development in rural areas of China?
• Economic Impacts of Natural Disasters in the Philippines . How do natural disasters affect economic growth and recovery in the Philippines?
• The Relationship Between Social Inequality and Economic Growth in South Africa . How does social inequality affect economic growth in South Africa?
• The Effect of International Sanctions on North Korea’s Economy . How have international sanctions impacted North Korea’s economy?
• Economic Benefits of Bilingualism in Canada . How does bilingualism contribute to economic opportunities in Canada?
• The Impact of Veganism on the Meat Industry in the United States . How is the rise of veganism affecting the meat industry and economy in the United States?
• Mobile Banking and Financial Inclusion in Kenya . How has mobile banking contributed to financial inclusion and economic development in Kenya?

These topics and research questions are intended to promote critical thinking and lay the groundwork for a thorough inquiry into various economic concerns. You can tailor these ideas to your interests and data availability for Extended Essay research.

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You can write an informative and compelling Extended Essay by choosing a topic that aligns with your interests and adhering to the IB’s criteria. Remember, this is an opportunity to research an area of Economics that fascinates you. So approach it enthusiastically, and you’ll get the highest grade. Also, if you need help with Extended Essay writing , just contact our IB writers.

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Essay on Economic Growth

Introduction.

Economic growth entails the process of increasing the gross domestic product (GDP) of a country. The growth can be evaluated as an increase in the real gross national product (GNP) or Gross Domestic Product (GDP) over a certain period. When GDP increases, the value of services or goods produced, people can consume more. To increase services and goods, countries should increase their potential to produce. As such, broadly, economic growth entails analyzing the variables that result in a sustained increase in production capacity.

Notably, economic growth directly influences the quality of an individual’s living standards. Increasing the production capacity increases income; hence, consumers can purchase more services and goods. Subsequently, the increased incomes and production work together to increase productivity. This cycle continues while productivity in the production factors speedily increases real GDP. Consequently, job opportunities increase, and the government has more tax revenues for public services.

Subsequently, economic growth and increased production capacity result from capital accumulation, technological changes and increased education levels. If a nation puts its entire resources to generate more services and goods but no resources to accrue capital, the production capacity will remain the same. There is basically an interchange between current increased production and future economic growth. For a nation to attain more future consumption, it must reduce the production of services and goods. The forgone consumption now is the opportunity cost for a better economy.

Sources of Economic Growth

Capital accumulation.

Capital accumulation entails increasing capital resources like physical and human capital. Human capital involves the knowledge and skill that an individual possesses. It may come from work experience or education. Human capital increases significantly when more people learn and engage in productive work. Subsequently, physical capital may involve additions to buildings, machines or equipment. It results in more money per employee, leading to increased productivity. The buildup of physical capital is essential for economic growth and vital in all economic areas.

Technological Change

Technological changes entail innovating and looking for more effective and efficient production means. With new technologies, companies can produce more output at a reduced cost. These lower-cost systems enable companies to provide either greater quantity or lower prices. Technology entails the application of science, particularly for commercial and industrial purposes, to make innovations to the production methods, production machines and products to increase efficiency and production volume, all leading to profit increases and competition advantages (Çalışkan, 2015). Technology helps to facilitate various aspects of life in an economy. It directly improves the accuracy and speed of production and takes over different, more time-consuming and laborious duties. This enables people previously involved in these jobs to engage and invest in different economic sectors. Thus, technological changes contribute significantly to economic growth. Technology facilitates the production of a certain product with less input. Further, countries that efficiently adopt technology in all societal aspects create new employment areas, hence economic growth.

Another source of economic growth is education. Notably, education is the primary source of the rise in living standards (Apostu et al., 2022). This is because education increases the capacity to function and societal development. Further, the more skilled the labor force, the higher the production levels and the more technological advancements. In addition, higher education levels lead to increased wage levels hence high spending. This can involve increased demand which pushes the supply side hence more production in the market. Fostering education leads to a more knowledgeable and skilful population, which puts this acquired information and skills on the market. As such, education has a positive impact on general economic improvement.

Notably, universities play a significant role in promoting sustainable development through knowledge transmission and creating certain competencies in students (Apostu et al., 2022). For instance, universities initiate corporate social responsibility programs to safeguard the environment, develop local communities and fight corruption. In addition, highly educated people have skills and attitudes that positively influence the labor force. First, these people are highly predisposed to entrepreneurship. This has a direct positive influence on economic growth and welfare. Entrepreneurs, particularly educated entrepreneurs, introduce knowledge spilling indirectly or directly. This means they introduce improvement and innovative ideas to the current market practices. In this way, they indirectly stimulate change and a rise in general individual knowledge. Also, this is an effective way of inspiring rivalry and competition. By introducing improvements and new ideas to the markets, the upcoming investors force the current ones to introduce respective changes to maintain their current position in the market places. As a result, entrepreneurship contributes significantly to the economy.

Policies to Enhance the Sources of Economic Growth

The policy that can enhance education as a source of economic growth is a policy in education, such as an equality policy. This can contribute to the generation of human capital, which can counter the forces of falling returns in other production factors like physical capital necessary for economic growth. Besides its direct role as a production factor, human capital and education complement various factors like natural resources and physical capital that determine the level of technological innovations in a nation (Loayza & Soto, 2014). Hence, a policy toward enhancing education and human capital can lead to increased economic growth.

The other policy to promote technological change is in the area of financial depth. There should be the introduction of good financial systems to facilitate long-term growth. Financial systems influence economic growth and economic efficiency through various channels. Financial markets promote risk diversification by pooling, trading and hedging economic instruments (Loayza & Soto, 2014). They help to recognize profitable investment areas and rally savings for them. Further, financial systems can encourage adoption and change in technology by facilitating the capital needed for such activities. In addition, financial systems help monitor organization managers and impose corporate controls, reducing principal-agent issues resulting in inefficient investment. Consequently, financial developments result in more technology adoption and higher economic growth.

The next economic policy should be in the area of international trade openness to facilitate capital accumulation. Trade has a significant role in capital accumulation and economic growth (Loayza & Soto, 2014). First, trade results in higher specialization; hence, countries should exploit their comparative advantage area to advance in total factor productivity (TFP). Also, trade expands potential markets, enabling domestic companies to benefit from economies of scale and increasing their TFP. Further, trade diffuses enhanced managerial practices and technological innovations through better interactions with overseas markets and firms. Lastly, trade liberalizations decrease the incentives for companies to carry out unproductive activities, improving economic growth.

The Negative Impacts of Economic Growth

Although economic growth has indisputably been a positive influence, it still has adverse effects. Economic growth has various negative impacts, including environmental costs and income inequality. Notably, it can be possible to fix financial crises over time since their effect is not collective. However, damaging the environment can be irreversible once it reaches a tipping point. Higher outputs result in increased congestion and pollution, which can decrease the living standards, for instance, more breathing problems and wasting time in traffic jams because of pollution congestion, respectively (Kozluk & Zipperer, 2015). In addition, an increase in the consumption of non-renewable energy resources may put costs on incoming generations.

Subsequently, economic growth may cause income inequality. This happens because economic growth results in more benefits to the more affluent people, those owning assets and have well-paying jobs. With sufficient redistribution policies, wealthy people tend to gain more wealth at an increased rate compared to the economic growth rate since they can reinvest their bonuses.

One policy that would counter environmental costs caused by economic growth is the consumption of renewable sources to reduce pollution that contributes to the destruction of the ozone layer. Companies can achieve economic growth free from pollution by focusing on more environmentally friendly production methods (Kozluk & Zipperer, 2015). The other policy to counter income inequality is to increase the earned income tax. This can help to pull most families out of poverty and offer more economic support to poor people. Wealthy people will be required to pay more in federal taxes compared to low-income people hence an effective way of resolving the income inequality issue.

From this assignment, I have learnt that economic growth has many benefits. However, I have noticed that the impact of economic growth relies on various factors like the nature of growth, whether that growth is sustainable and whether it causes harm to the environment. Going forward, I will apply this knowledge by focusing on the aspects of economic growth that make it desirable, like advocating for environmental protection.

Apostu, S. A., Mukli, L., Panait, M., Gigauri, I., & Hysa, E. (2022). Economic Growth through the Lenses of Education, Entrepreneurship, and Innovation. Administrative Sciences, 12(3), 74.

Çalışkan, H. K. (2015). Technological change and economic growth. Procedia-Social and Behavioral Sciences, 195, 649-654.

Kozluk, T., & Zipperer, V. (2015). Environmental policies and productivity growth: a critical review of empirical findings. OECD Journal: Economic Studies, 2014(1), 155-185.

Loayza, N., & Soto, R. (2014). The sources of economic growth: An overview. Series on Central Banking, Analysis, and Economic Policies, no. 6.

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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.

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Henry Clay’s Bold Blueprint: Crafting the American System for National Prosperity

This essay about Henry Clay’s American System examines its three core components—protective tariffs internal improvements and the establishment of a national bank—and their intended roles in fostering national economic unity and growth. Clay’s strategic vision aimed to protect emerging U.S. industries from European competition enhance national infrastructure for better economic integration and stabilize the national economy through a central banking system. Despite its innovative approach to resolving regional disparities and promoting economic interdependence the American System faced significant opposition particularly from the agricultural South which viewed tariffs as economically harmful. The essay discusses the impact of Clay’s policies and the broader historical and political context in which they were conceived highlighting the ongoing debate over federal versus state powers.

How it works

Henry Clay a central figure in the annals of American political history crafted an economic strategy that profoundly influenced the burgeoning United States. Known as the “American System” this strategy was envisioned as a multifaceted approach to stimulate economic growth and unify the nation’s diverse regional economies. This essay examines Clay’s economic doctrine its implementation and the historical context that shaped its development and reception.

At the heart of Clay’s American System was a trio of tightly interwoven policies: protective tariffs internal improvements and a national bank.

Each component was designed to complement the others collectively fostering an environment of economic interdependence among the states that would in theory lead to greater national cohesion.

Protective tariffs were the first pillar of the American System. Clay advocated for these tariffs to shield nascent American industries from the fierce competition posed by European goods. By levying taxes on imported items these tariffs were intended to encourage consumers to purchase domestically produced goods thereby bolstering American manufacturing sectors. The Tariff of 1816 serves as a prime example offering crucial protection to the young textile industries in New England.

The second pillar focused on enhancing the nation’s infrastructure. Clay championed the creation of a network of roads and canals and later railroads to facilitate the efficient movement of goods and people across the expansive American territories. This network was intended to bridge the economic divides between the agricultural regions of the West and South and the industrial hubs in the Northeast. The debate over whether such projects should receive federal funding was a point of contention reflecting wider concerns about the scope of federal power.

The establishment of a national bank constituted the third fundamental element of Clay’s plan. The re-chartering of the Second Bank of the United States in 1816 was a cornerstone of this strategy. The bank was tasked with regulating the supply of money providing a stable currency and extending credit to growing industries. While its centralized control was viewed with suspicion and hostility by some factions the bank was crucial for Clay’s vision of a financially unified nation.

Despite the coherent structure of the American System it was met with substantial opposition. Southern states reliant on agricultural exports viewed protective tariffs as detrimental to their economy. They argued that these tariffs increased the cost of goods for consumers and invited retaliatory measures from foreign trading partners. Similarly the idea of federal investment in internal improvements was seen by some as an overextension of government authority intruding on states’ rights.

In sum Henry Clay’s American System was a visionary yet contentious plan to mold the economic destiny of the United States. It aimed not just at economic prosperity but at forging a greater sense of national unity through shared commercial success. While not fully realized in Clay’s lifetime the principles of the American System influenced successive policies and continue to echo in modern economic strategies. Clay’s economic blueprint remains a testament to his commitment to building a robust and unified nation navigating the complex interplay of regional interests and national goals.

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Henry Clay’s Bold Blueprint: Crafting the American System for National Prosperity. (2024, Jul 06). Retrieved from https://papersowl.com/examples/henry-clays-bold-blueprint-crafting-the-american-system-for-national-prosperity/

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PapersOwl.com. (2024). Henry Clay’s Bold Blueprint: Crafting the American System for National Prosperity . [Online]. Available at: https://papersowl.com/examples/henry-clays-bold-blueprint-crafting-the-american-system-for-national-prosperity/ [Accessed: 8 Jul. 2024]

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"Henry Clay’s Bold Blueprint: Crafting the American System for National Prosperity," PapersOwl.com , 06-Jul-2024. [Online]. Available: https://papersowl.com/examples/henry-clays-bold-blueprint-crafting-the-american-system-for-national-prosperity/. [Accessed: 8-Jul-2024]

PapersOwl.com. (2024). Henry Clay’s Bold Blueprint: Crafting the American System for National Prosperity . [Online]. Available at: https://papersowl.com/examples/henry-clays-bold-blueprint-crafting-the-american-system-for-national-prosperity/ [Accessed: 8-Jul-2024]

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Americans feel the economy is working against them. How we can speed up economic growth.

Our ability to substantially improve our lives depends on how quickly the overall economy is growing..

We all want a future where paychecks go further in allowing people to buy the things they need and want, where homeownership can be more than just the American dream but an American reality, where quality, affordable child care is available for working families, and where Americans – and our American economy – are not saddled with unsustainable debt.

Unfortunately, in many cases, that is not the reality today, and many Americans do not feel like this economy is working for them. To create the future we want and the next generation deserves, we need to get back to growth.

While economic growth may feel like a static number on a chart, it is far more than that. It is a snapshot into the lives of everyday people, the value of their efforts, their ability to provide for themselves and their families, the belief that their children’s lives will be better than their own. And, at the very time when we need faster-sustained growth to create better opportunities for Americans, we face a future where growth is trending dramatically slower.

The history of economic growth in America

From 1950 to 2010, America’s economy grew by an average of 3.4% per year. Since then, growth has averaged just 2.2% per year , and the nonpartisan Congressional Budget Office projects that growth will slow to an average of just 1.8% per year over the next decade. But it doesn’t have to be that way. And a percentage point or 2 makes a big difference.

When our economy is growing at 3%, someone who is born today will see their living standard double by the time they are in their early 20s. It’s what we all want for our children – that they’ll be better off and have more opportunities than the generation before.

Alternatively, at 2% growth, the living standard doesn’t double until someone is in their mid-30s . That additional point of growth speeds up economic opportunity and advancement in people’s lives by more than a decade.

Young workers mean business: Gen Z is redefining what workers should expect from their employers. It's a good thing.

Faster economic growth lifts wages , giving Americans more freedom to buy the things they need and want. It also means an economy with more choices and generally lower prices.

Moreover, even an extra half-point of growth over a decade is worth more than $1 trillion in deficit reduction, something our country desperately needs with our national debt on pace to exceed $50 trillion within a decade.

The challenge of creating and sustaining faster economic growth

So, with all we have to gain – or lose – why isn’t faster economic growth a national priority?

For one, it’s harder for the United States to achieve 3% growth now than it was in the decades after World War II, when rapid industrialization, baby boomer-driven population growth and the widespread entrance of women into the workforce created significant economic momentum . When you have those kinds of tailwinds, even the headwinds of bad public policy won’t significantly slow growth.

Today, of course, the United States has a mature economy – increasingly service driven – and demographics are not on our side.

When should I retire? It may be much later in life than you think.

The challenge – and the opportunity – is that today our public policy environment is more critical than ever in determining whether Americans have more opportunities or fewer. That’s why we need our elected officials to look beyond the next election and set targeted priorities for our collective future.

Economic growth is not a red issue or a blue issue. It’s a red, white, and blue imperative.

Focus on the need for a better workforce

First, America needs a larger and more skilled workforce.

That means securing our border  and  reforming the immigration system to allow more people to legally come into this country to work. It means providing affordable and accessible child care for working parents. And it means ensuring people have the opportunity to learn the skills necessary to keep up in a growing and changing economy.

Opinion alerts: Get columns from your favorite columnists + expert analysis on top issues, delivered straight to your device through the USA TODAY app. Don't have the app? Download it for free from your app store .

Second, we must support American innovation and allow it to be shared with the world.

Artificial intelligence has vast potential to jump-start innovation, creating new solutions across health care, education, climate and more while significantly boosting efficiency. Strong intellectual property protections helped us build the most sophisticated knowledge economy in the world, and going forward they will be more important than ever: 95% of the world’s consumers live beyond our borders, and the ability to trade and sell them goods – and increasingly services, including digital services – is key to supporting greater economic growth at home.

Finally, we need to provide Americans – and American businesses – certainty.

A good place to start is our nation’s tax code, with what could be the largest automatic tax increase in American history looming at the end of 2025 unless Congress acts.

Our ability to substantially improve our lives depends on how quickly the overall economy is growing. We urge our elected officials to prioritize policies aimed at achieving a minimum of 3% annual economic growth. Continued growth and prosperity are essential for our country's success, fostering greater opportunities for all Americans.

Suzanne P. Clark  is president and chief executive officer of the U.S. Chamber of Commerce.  

You can read diverse opinions from our USA TODAY columnists and other writers on the Opinion front page , on X, formerly Twitter, @usatodayopinion and in our Opinion newsletter .

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US economic growth for last quarter is revised up slightly to a 1.4% annual rate

FILE - 2024 Ford F-150 trucks are assembled at Ford’s Dearborn Truck Plant on April 11, 2024, in Dearborn, Mich. On Thursday, June 27, 2024, the government issues the third and final estimate of economic growth – the gross domestic product – in the January-March quarter. (AP Photo/Carlos Osorio, File)

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WASHINGTON (AP) — The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Consumer spending grew at just a 1.5% rate, down from an initial estimate of 2%, in a sign that high interest rates may be taking a toll on the economy.

The Commerce Department had previously estimated that the gross domestic product — the economy’s total output of goods and services — advanced at a 1.3% rate last quarter.

The first quarter’s GDP growth marked a sharp pullback from a strong 3.4% pace during the final three months of 2023. Still, Thursday’s report showed that the January-March slowdown was caused mainly by two factors — a surge in imports and a drop in business inventories — that can bounce around from quarter to quarter and don’t necessarily reflect the underlying health of the economy.

Imports shaved 0.82 percentage point off first-quarter growth. Lower inventories subtracted 0.42 percentage point.

Picking up the slack was business investment, which the government said rose at a 4.4% annual pace last quarter, up from its previous estimate of 3.2%. Higher investment in factories and other nonresidential buildings and in software and other types of intellectual property helped boost the increase.

After growing at a solid annual pace of more than 3% in the second half of 2023, consumer spending decelerated sharply last quarter. Spending on appliances, furniture and other goods fell by a 2.3% annual rate, while spending on travel, restaurant meals and other services rose at a 3.3% rate.

Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, called the downshift in consumer spending “a cause for concern.’' Consumers account for around 70% of U.S. economic activity.

“The economy remained resilient in the first quarter,” said Gregory Daco, chief economist at the tax and consulting firm EY. But ”private-sector demand growth was cooling, led by more consumer prudence. Importantly though, the economy is not retrenching, with business investment retaining moderate momentum.”

Many economists have been expecting growth to strengthen in the current April-June quarter. But an Oxford Economics forecasting model — based on economic statistics that have been reported so far — points instead to a tepid 1.3% growth rate this quarter.

The U.S. economy, the world’s biggest, has proved surprisingly resilient in the face of higher interest rates. The Federal Reserve raised its benchmark rate 11 times in 2022 and 2023, to a 23-year high, to try to tame the worst bout of inflation in four decades. Most economists predicted that the much higher consumer borrowing rates that resulted from the Fed’s hikes would send the economy into a recession.

It didn’t happen. The economy has kept growing, though at a slower rate, and employers have kept hiring. In May, the nation added a strong 272,000 jobs , although the unemployment rate edged up for a second straight month, to a still-low 4%. At the same time, overall inflation, as measured by the government’s main price gauge, has tumbled from a peak of 9.1% in 2022 to 3.3% , still above the Fed’s 2% target level.

The state of the economy is sure to be a central topic Thursday night when President Joe Biden will debate Donald Trump, the presumptive Republican presidential nominee. Though the economy remains healthy by most measures and inflation is way down from its peak, many Americans say they’re frustrated that overall prices are still well above their pre-pandemic levels. Costlier rents and groceries are particular sources of discontent, and Trump has sought to pin the blame on Biden in a threat to the president’s re-election bid.

A measure of inflation in the January-March GDP report showed that price pressures accelerated at the start of 2024. Consumer prices rose at a 3.4% annual pace, up from 1.8% in the fourth quarter of 2023. Excluding volatile food and energy costs, so-called core inflation rose at a 3.7% annual clip, up from 2% in each of the previous two quarters.

In light of the still-elevated inflation pressures, the Fed’s policymakers earlier this month collectively predicted that they would cut their benchmark rate just once in 2024, down from their previous forecast of three rate cuts. Most economists expect the first rate cut to come in September, with possibly a second cut to come in December.

Thursday’s report was the third and final government estimate of first-quarter GDP growth. The Commerce Department will issue its first estimate of the current quarter’s economic performance on July 25.

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said in a slight upgrade from its previous estimate

WASHINGTON -- The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Consumer spending grew at just a 1.5% rate, down from an initial estimate of 2%, in a sign that high interest rates may be taking a toll on the economy.

The Commerce Department had previously estimated that the gross domestic product — the economy's total output of goods and services — advanced at a 1.3% rate last quarter.

The first quarter's GDP growth marked a sharp pullback from a strong 3.4% pace during the final three months of 2023. Still, Thursday's report showed that the January-March slowdown was caused mainly by two factors — a surge in imports and a drop in business inventories — that can bounce around from quarter to quarter and don't necessarily reflect the underlying health of the economy.

Imports shaved 0.82 percentage point off first-quarter growth. Lower inventories subtracted 0.42 percentage point.

Picking up the slack was business investment, which the government said rose at a 4.4% annual pace last quarter, up from its previous estimate of 3.2%. Higher investment in factories and other nonresidential buildings and in software and other types of intellectual property helped boost the increase.

After growing at a solid annual pace of more than 3% in the second half of 2023, consumer spending decelerated sharply last quarter. Spending on appliances, furniture and other goods fell by a 2.3% annual rate, while spending on travel, restaurant meals and other services rose at a 3.3% rate.

Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, called the downshift in consumer spending "a cause for concern.'' Consumers account for around 70% of U.S. economic activity.

“The economy remained resilient in the first quarter," said Gregory Daco, chief economist at the tax and consulting firm EY. But ”private-sector demand growth was cooling, led by more consumer prudence. Importantly though, the economy is not retrenching, with business investment retaining moderate momentum."

Many economists have been expecting growth to strengthen in the current April-June quarter. But an Oxford Economics forecasting model — based on economic statistics that have been reported so far — points instead to a tepid 1.3% growth rate this quarter.

The U.S. economy, the world’s biggest, has proved surprisingly resilient in the face of higher interest rates. The Federal Reserve raised its benchmark rate 11 times in 2022 and 2023, to a 23-year high, to try to tame the worst bout of inflation in four decades. Most economists predicted that the much higher consumer borrowing rates that resulted from the Fed’s hikes would send the economy into a recession.

It didn’t happen. The economy has kept growing, though at a slower rate, and employers have kept hiring. In May, the nation added a strong 272,000 jobs , although the unemployment rate edged up for a second straight month, to a still-low 4%. At the same time, overall inflation, as measured by the government’s main price gauge, has tumbled from a peak of 9.1% in 2022 to 3.3% , still above the Fed’s 2% target level.

The state of the economy is sure to be a central topic Thursday night when President Joe Biden will debate Donald Trump, the presumptive Republican presidential nominee. Though the economy remains healthy by most measures and inflation is way down from its peak, many Americans say they’re frustrated that overall prices are still well above their pre-pandemic levels. Costlier rents and groceries are particular sources of discontent, and Trump has sought to pin the blame on Biden in a threat to the president’s re-election bid.

A measure of inflation in the January-March GDP report showed that price pressures accelerated at the start of 2024. Consumer prices rose at a 3.4% annual pace, up from 1.8% in the fourth quarter of 2023. Excluding volatile food and energy costs, so-called core inflation rose at a 3.7% annual clip, up from 2% in each of the previous two quarters.

In light of the still-elevated inflation pressures, the Fed’s policymakers earlier this month collectively predicted that they would cut their benchmark rate just once in 2024, down from their previous forecast of three rate cuts. Most economists expect the first rate cut to come in September, with possibly a second cut to come in December.

Thursday’s report was the third and final government estimate of first-quarter GDP growth. The Commerce Department will issue its first estimate of the current quarter’s economic performance on July 25.

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