Extended essay in economics
What: Extended Essays in Economics
How: Examine exemplars in Economics, discuss the characteristics and differences
Why: Extended Essays in Economics
How: Examine exemplars in Economics, discuss the characteristics and differences
Why: Extended Essays in Economics
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guidance from the ee guide
An extended essay (EE) in economics provides students with an opportunity to:
undertake in-depth research in economics in an area of personal interest to them
undertake in-depth research in economics in an area of personal interest to them
- develop research skills
- apply economic theory to real-world situations
- make inferences based on real-world data
- 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.
Use of economic theories, models and tools
Students should undertake an essay that uses the principles of economics as a basis for researching a particular topic. They may take a recent economic event, issue or policy, gather data and apply economic theories, models and tools to evaluate it.
Research questions that do not allow a systematic and meaningful investigation using economic theory and do not require critical analysis and detailed understanding are unlikely to be suitable in economics.
Multidisciplinary topics
It is essential that students answer the question using economic theories and concepts, and that the work does not diverge into another subject area. Some topics can be approached through different disciplines, such as business management, geography or psychology. Students must therefore ensure they use economic theories, models and tools and meet the subject requirements of economics.
Alternatively, if students wish to approach a topic from the perspective of economics and another discipline within the Diploma Programme, they can undertake an interdisciplinary World Studies EE .
Five-year rule
Topics should not be historical. They should relate to economic information, policies, outcomes or events that are no more than approximately five years old. Topics that are too retrospective, such as “What was the impact of the global financial crisis on unemployment in the United States from 2007–2010?” almost invariably become descriptive.
Essays should also not be based on future economic events. For example, “What will be the effect of the 2026 Football World Cup on the economy of Country X?” would not be suitable as it would be entirely speculative and unsupported.
Opportunities for analysis
The topic chosen should provide opportunities for some critical analysis of the information that is gathered. Students should avoid topics that depend entirely on summarizing secondary data, as they tend to lead to an essay that is essentially narrative or descriptive in nature.
Restricting the scope of the essay is necessary to ensure a clear focus, and will also provide opportunities for demonstrating detailed understanding of economics and critical analysis.
Suitable areas of economics
Macroeconomics topics may be chosen, but it is essential that the research question is narrowed to a
reasonable focus on a particular part of the economy and is not on the economy as a whole.
Topics researching economic development are highly suitable, but the research question should relate to a particular aspect of development or a limited area. It would not be suitable, for example, to examine the effect of some government policy on the development of the whole economy.
Examples of topics
These examples are for guidance only. Students must ensure that their choice of topic is focused (left- hand column) rather than broad (right-hand column).
Students should undertake an essay that uses the principles of economics as a basis for researching a particular topic. They may take a recent economic event, issue or policy, gather data and apply economic theories, models and tools to evaluate it.
Research questions that do not allow a systematic and meaningful investigation using economic theory and do not require critical analysis and detailed understanding are unlikely to be suitable in economics.
Multidisciplinary topics
It is essential that students answer the question using economic theories and concepts, and that the work does not diverge into another subject area. Some topics can be approached through different disciplines, such as business management, geography or psychology. Students must therefore ensure they use economic theories, models and tools and meet the subject requirements of economics.
Alternatively, if students wish to approach a topic from the perspective of economics and another discipline within the Diploma Programme, they can undertake an interdisciplinary World Studies EE .
Five-year rule
Topics should not be historical. They should relate to economic information, policies, outcomes or events that are no more than approximately five years old. Topics that are too retrospective, such as “What was the impact of the global financial crisis on unemployment in the United States from 2007–2010?” almost invariably become descriptive.
Essays should also not be based on future economic events. For example, “What will be the effect of the 2026 Football World Cup on the economy of Country X?” would not be suitable as it would be entirely speculative and unsupported.
Opportunities for analysis
The topic chosen should provide opportunities for some critical analysis of the information that is gathered. Students should avoid topics that depend entirely on summarizing secondary data, as they tend to lead to an essay that is essentially narrative or descriptive in nature.
Restricting the scope of the essay is necessary to ensure a clear focus, and will also provide opportunities for demonstrating detailed understanding of economics and critical analysis.
Suitable areas of economics
Macroeconomics topics may be chosen, but it is essential that the research question is narrowed to a
reasonable focus on a particular part of the economy and is not on the economy as a whole.
Topics researching economic development are highly suitable, but the research question should relate to a particular aspect of development or a limited area. It would not be suitable, for example, to examine the effect of some government policy on the development of the whole economy.
Examples of topics
These examples are for guidance only. Students must ensure that their choice of topic is focused (left- hand column) rather than broad (right-hand column).
Treatment of the topic
Research question
Choosing a research question that is made up of more than one question (a “double-barrelled” research question) is unlikely to result in a successful essay—eg “Does Company X practice monopolistic behaviours and, if so, how does it help the firm to increase revenues” or “What is the effect of European interest rate policy on aggregate demand in Greece and what should the government do to increase aggregate demand?”
Research question
Choosing a research question that is made up of more than one question (a “double-barrelled” research question) is unlikely to result in a successful essay—eg “Does Company X practice monopolistic behaviours and, if so, how does it help the firm to increase revenues” or “What is the effect of European interest rate policy on aggregate demand in Greece and what should the government do to increase aggregate demand?”
In the first example, the answer to the first part of the question must be affirmative in order to proceed with the essay. If not, the second part of the question cannot be answered.
In the second example, the scope of the essay is simply too wide.
The answer to the research question should not be self-evident. There must be scope to research the question and weave together an argument that is not obvious from the outset. For example, “To what extent is the market for mobile phone service in Country X an oligopoly” would not be appropriate when it is obviously an oligopoly as there are only three firms.
Research methods
Students can base their essay solely on secondary sources. They can also choose to undertake primary research.
Secondary sources
Students should consult a good range of secondary resources, including:
- economics textbooks
- general economics books
- research from think tanks such as the OECD or the New Economics Foundation
- government publications
- publications from international organizations such as the World Bank or UN bodies
- newspaper and magazine articles.
Primary research
For certain topics, primary research may enhance the approach, including:
• interviews
• surveys
• questionnaires.
Interviews with experts (face-to-face, virtual or electronic) in a given topic can be very beneficial, for example:
- university lecturers
- journalists
- government officials
- business people.
Where students undertake primary research, they must approach it in an academic manner.
- They must construct any surveys or questionnaires so that they gather meaningful, relevant data.
- Sample sizes must be large enough to generate statistically significant results.
When students have carried out surveys or questionnaires, they must: explain the process in their essay (How many people? Who? Where?) - summarize and analyse the relevant results
Pages of pie charts summarizing survey results are rarely appropriate.
Questionnaires based on speculative, anecdotal responses rarely, if ever, generate appropriate data and should not be used.
Use of theory
Students should integrate relevant economic theories, models and tools with the evidence obtained by the research throughout the essay. The theory should not be presented as a separate section. An essay that delivers the theory as a separate section of the essay and does not apply it to the specific research question is unlikely to be successful in terms of analysis.
Students should never make assertions using economic theories, models and tools if they cannot meaningfully link these theories to their case study with supporting data or evidence.
Students can demonstrate their skills of analysis and evaluation by judging the extent to which a theory is valid or useful in answering the research question.
Examples of topics, research questions and suggested approaches
Once students have identified their topic and written their research question, they can decide how to research their answer. They may find it helpful to write a statement outlining their broad approach. These examples are for guidance only.
The Economics EE and Internal Assessment
- The internal assessment task (IA)—a portfolio of commentaries—may give students ideas for topics to research in depth, but the EE is not an extension of this task.
Students must ensure that they understand the clear distinction between the IA and the EE: - Both allow students to apply economic theory to a particular real-world situation, but the IA is anchored in specific articles in the news media.
- In the EE, the student’s topic and research question determine which economic theory it is relevant to explore; in the IA commentaries, the articles decide this.
- Both use secondary sources, but there is no expectation in the IA to consult sources beyond the specific news articles.
- There is no expectation of primary research in the IA.
- The tighter word limit of each IA commentary means that the 4,000-word EE is a study of much greater
depth and breadth.
PRIMARY AND SECONDARY RESOURCES
primary resources
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Secondary resources
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