Once you have developed your introduction for your Economics essay, the next step is to write your topic sentences. These are usually the first few sentences in a paragraph, and their purpose is to SUMMARISE the point being made in that specific paragraph.
The flow of your topic sentences should also follow the order set out in your introduction. Based on the example below and the preceding one, you should be able to see how a combination of a good introduction and related topic sentences contributes to a well-stitched essay.
Qn: Discuss how an understanding of elasticity concepts can help a car manufacturer plan his marketing strategies (15m)
Example of topic sentences
Topic Sentence 1: To maximize total revenue, the producer should charge a lower price where the demand for his good is relatively price-elastic, and charge a lower price where the demand for his good is relatively price-inelastic.
Topic Sentence 2: If the producer is selling a normal good, he should increase his output in times of good economic growth. However, if the producer is selling an inferior good, he should increase his output only when the economy is undergoing a recession.
Topic Sentence 3: Where the producer shares a highly negative XED with a substitute good, he should match price decreases by his rival. To reduce the size of XED, he can also adopt aggressive advertising campaigns for his product. Where the producer shares a highly positive XED with a complementary good, he should pursue joint marketing strategies with the related good to increase sales.
Economics Essays – Components of a Paragraph
With the structure set out (introduction + topic sentences), we can now consider the components that feature in the rest of the essay. You can think of the structure as a body’s bone structure and the components as the essential organs.
Mr Koh follows a DDEE framework in teaching the components of a good essay to his Economics tuition students.
- Explanation (body)
Mr Koh uses the analogy of a ‘low hanging fruit’ for Economics definitions and diagrams because these marks are secured simply with memory work.
Explanations simply refer to the argument that is being borne out in the paragraph (i.e. the point which you are trying to make). We can group examples with evaluation because very often, the use of examples demonstrates application of concepts in different contexts, and this helps to add evaluative depth to the answer. Examples may not be applicable in every case, but should certainly be included where relevant.
As an aside, some Economics tuition students ask Mr Koh whether definitions should be included in the introduction, since they can make the introductory paragraph quite lengthy. As a matter of practice, definitions should only be included if these are keywords, which once defined, help to “crack open” the question. Otherwise, Mr Koh prefers that his Economics tuition students retain the introduction specifically as a summary of my key arguments in their essays.