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An extended essay in economics provides students with an opportunity to undertake in-depth research in economics in an area of personal interest to them. It allows students to develop research skills, to apply economic theory to real-world situations, and to analyse and evaluate the outcomes of their research. The outcome of the research should be a coherent and structured analytical essay that effectively addresses the particular research question.
Choice of topic
Students should undertake an essay that uses the core principles of economics as a basis for researching a particular topic. Students should use a combination of primary and secondary research as the basis for their extended essay, and should apply the accepted theories, tools and techniques of the subject to the topic chosen.
Essays should not be historical. They should be related to economic information that is no more than three years old. Essays that are too retrospective, for example, “What was the impact of the South-East Asian crash on Thailand during 1990–1995?”, almost invariably become descriptive.
Students should ensure that their research question can be answered using economic concepts and theories, and that the question does not lean too heavily towards business and management.
The topic chosen should provide opportunities for some critical analysis of the data collected. Topics that depend entirely on summarizing general secondary data should be avoided, as they are likely to lead to an essay that is essentially narrative or descriptive in nature. However, the effective use of relevant secondary data to answer the research question will be fully rewarded by the examiner.
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