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Writing in Economics

Please keep in mind that these are only general guidelines; always defer to your professor's specifications for a given assignment. If you have any questions about the content represented here, please contact the Writing Centers so that we can address them for you.

According to McGraw Hill, economics is the study of how to distribute scarce resources among alternative ends. In a society, there are resources that always need to be allocated or exchanged within our society and among other societies as well. These resources can be something physical like natural resources (minerals, forests, water, oil), land, equipment, and money. However, there are other non-physical “ideas” or non-conceptual items that are also resources included in the study of economics such as time allotment, policies and procedures, government expenditures, and taxes.

All of these resources are subject to analysis by economists. Economics focuses on the behavior and interactions of economic agents and how economies work.Economic analyses deal with when a decision (choice) is made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions.

Within the economics department here at DePaul University, writers find themselves being asked to write a variety of different texts. The courses in DePaul’s Department of Economics offer a mixture of history, theory, and applied contextual analysis of economic situations.

Preferred Bibliographic Style

Economics typically uses APA style. However, your instructor will be able to specify what citation style he or she expects you to use within a particular course. For more information about APA style you can visit Purdue OWL

Key Terms

You might refer to key economic terms that you might encounter when writing in economics to help you get started and understand the basics of economics. Reviewing key terms and concepts might also help in brainstorming and possibly discovering a topic to write about. You can find a list of key terms in McGraw Hill’s fully searchable online glossary.

Common Writing Assignments

Marquette University’s Writing Across the Curriculum program notes that students can expect to write assignments such as:

  • Analysis papers of Wall Street Journal or other financial review journal articles that explore how Economists work with information in settings outside the academy. These papers critique the application of economic theory or the analysis of a specific economic situation.

  • Compare and contrast essays describing different economic systems (i.e. capitalism vs. socialism).

  • Exam essay questions asking students to apply a concept or theory to an example situation.

  • Short papers on specific issues that require students to review a situation and apply an economic policy or theory.

According to Duke University’s guide for writing in economics there are a few additional forms of economic writing you might encounter when writing for economics:

  • Empirical papers that test an already established economic model with data.

  • Theoretical papers that actually develop new theories or economic models that are backed up by logical thought.

  • Economic history papers that examine changes over time in economic institutions, economic conditions, economic practices, and the like.

  • History-of-thought papers that document and assess the evolution of economics as a discipline and the origin and development of economic ideas.

  • Literature Reviews are common within a variety of genres of work, so they are not specifically designed for economic writing. Literature reviews are basically a short assessment of other works that address the same topic you are in your paper.

    Always refer back to your professor’s prompt to help answer any specific questions you have about your assignment. It might also be helpful to reach out to your professor if you need help figuring out what type of economic paper he or she wants from you.

Economics Writing

Choosing a Topic

Choosing a topic can also come from trying to find an answer to a question you have. You can start with a broad topic and narrow your focus as you conduct research and review literature.

Research Resources

After you have a topic, or a general idea of how you will address an assignment prompt, you might need to read and reference outside sources and literature to supplement your paper. The DePaul University Library Research Guide contains a guide compiled specifically for economics. The DePaul University Library Research Guide also has resources for other subjects and disciplines that might help you find sources related to your topic, like business and finance.

Narrowing a Topic

After you have found your topic, and reviewed some literature relating to that topic, it might help to put your topic in perspective. According to Duke University professor and writing tutor Paul Dudenhefer, there are four common dimensions along which to narrow a topic:

  • Time period

  • Demographic group

  • Geographic region

  • Event or policy action

Expanding on a Topic

Most writing in economics is done to prove that your hypothesis, theory, or argument would be supported. This can be done through three different “steps”:

  1. Address an economic issue or more specifically subject a phenomenon to economic analysis.

  2. Analyze said issue or phenomenon by using economic assumptions, concepts, and theories to explain or understand the phenomenon in question. (These concepts are most likely ones you have gone over in your economics class or can find in your textbooks like, for example, the law of supply and demand).

  3. Use four different kinds of evidence to support the hypothesis. Four types of evidence you might use to support your arguments or analysis include:

    • Theories and concepts from your classes and textbooks

    • Quantitative or measurable data

    • Data used to test a model or econometrics such as regression analysis or analyzing the change in one variable explaining it as a function of other variables

    • An economic model you find or create that is a simplified version of the economy or the decision-making process of an economic agent such as a consumer or a firm

Additional Resources

Investopedia by Forbes Digital provides a basic overview of economics, including short chapters with an introduction and information on production, demand and supply, utility, and monopolies, among others.

Journals specializing in Economics include The Economist and Financial Times. These are available in print and in various electronic databases through the DePaul Library.

You can also locate resources by using the bibliographic database EconLit through the DePaul Library.

DePaul Department of Economics Links

Department Homepage

Resources in Economics

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