A Level Economics Model Essays

A library of 128 free A Level H2 Economics model essays by Mr Eugene Toh, author of the H1 and H2 TYS answer keys, each with an examiner's note on what scores. Sorted by topic across micro and macro.

This model essay is by Mr Eugene Toh, author of the H1 and H2 A Level Economics TYS answer keys, published by SAP and sold at Popular, and of 50 Model Essays (Shing Lee).

These are free samples. ETG students get the full model essay bank, refreshed each exam cycle and marked by our team, plus the AI essay coach that plans every question with you.

Browse by topicEleven topics

Every model essayThe full library

MicroFoundations

• Explain how a rational consumer decides whether to buy an electric vehicle, and how a rational producer of electric vehicles determines their output level.[10]

MicroDemand and Supply

• Discuss possible strategies to reduce the severe shortage of vets.[15]
• Explain why a severe shortage of vets still exists despite clinics offering significantly higher salaries.[10]
• Explain how rising pork prices could affect consumer expenditure on feather shuttlecocks and its related goods, such as rackets.[15]
• Explain how possible demand and supply factors might contribute to widening income inequality in Singapore.[10]

MicroElasticities

• Explain what might cause price elasticity of demand and cross elasticity of demand to vary for different products.[10]

MicroMarket Failure

• Discuss whether reducing subsidies for museums is justified.[15]
• Explain why museums are not public goods, but the government considers it necessary to intervene in the market for museums.[10]
• Discuss the measures a government can implement to improve resource allocation in the market for tourism services.[15]
• Explain how a rational consumer decides whether to travel abroad for leisure and how such decision-making may lead to an inefficient allocation of resources.[10]
• Discuss the extent to which government policies are successful in encouraging more consumers to adopt electric vehicles to maximise social welfare in the electric vehicle market.[15]

MicroFirms and Market Structures

• Explain how a profit-maximising firm sets its price and output decisions and why the firm might practice price discrimination.[10]
• Discuss the impact of growing competition on efficiency outcomes.[15]

MacroIntroduction to Macroeconomics

• Using AD-AS analysis, explain the impact of global recovery and international supply chain issues on Singapore's economy.[10]
• Using both ADAS and the PPC, explain the economic impacts of an ageing population on Singapore.[10]
• Explain the circular flow of income and how an increase in productivity will affect its components.[10]
• Explain how the global economic rebound and global supply chain disruptions might have consequences on Singapore's aggregate demand and aggregate supply.[10]
• Explain how the above-mentioned events have resulted in inflation and a recession in the UK.[10]

MacroMacro Indicators and Standard of Living

• To what extent does the rise in Singapore's standard of living depend on increases in productivity and innovation?[15]
• Evaluate the usefulness of these economic indicators in assessing how Singapore's standard of living changed in 2021.[15]
• Explain how an increase in real GDP per capita can bring about an improvement in standard of living.[10]
• To what extent can technological advancements lead to genuine improvements in a country's standard of living?[15]
• Explain the factors that influence an economy's standard of living and examine how technological advancements can enhance it.[10]
• Explain the indicators commonly used to measure a country's economic performance.[10]
• Explain why economists believe that real GDP per capita alone is no longer an adequate measure of Singapore's standard of living.[10]
• Discuss the shortcomings of using these statistics to assess changes in Singapore's standard of living in 2017 and for cross-country comparisons.[15]
• Explain how the above indicators can be used to measure the change in the standard of living in Singapore.[10]
• Explain how one might assess whether the quality of life in Singapore has risen.[10]
• Explain the limitations of using real GDP per capita to compare the standard of living between countries.[10]
• Discuss the appropriateness of using economic growth rates to compare the standard of living between two different countries.[15]
• Explain how economic growth indicators can be used to determine the standard of living in a country.[10]
• Explain how economists can conclude that Singapore's standard of living is ranked top in Asia.[10]
• Explain how an increase in real GDP per capita can indicate an improvement in standard of living.[10]

MacroMacro Issues

• Describe the factors that can lead to stagflation and explain its negative impact on an economy.[10]
• Explain how weak external demand and rapid AI adoption could contribute to a rise in Singapore's unemployment rate.[10]
• Discuss whether managing conflicting economic objectives is the key consideration for governments when dealing with stagflation.[15]
• Explain one demand-side and one supply-side factor that could result in a rise in inflation in Singapore.[10]
• Assess the most appropriate policy options China could implement to tackle youth unemployment.[15]
• Explain why governments might view high unemployment as a serious concern.[10]
• Explain how economic growth can lead to trade-offs with income inequality and environmental sustainability.[10]
• Explain the potential effects of stagflation on both Singapore's domestic economy and its external sector.[10]
• Explain the various types of unemployment triggered by the COVID-19 crisis.[10]
• Explain the key economic problems arising from low economic growth, unequal income distribution, and reduced trade activity.[10]
• Explain the main factors behind long-term, sustainable economic growth in a country.[10]
• Explain how deflation might affect households and firms.[10]
• Explain how the above factors may result in an increase in the unemployment rate in Singapore.[10]
• Explain how Singapore's focus on infrastructure and workforce development supports economic growth.[10]
• Evaluate which type of unemployment is likely to present the most significant challenge to Singapore's labour market in the coming years.[15]
• Explain a possible demand-side reason and a possible supply-side reason for the rise in the rate of inflation in Singapore.[10]
• Explain two economic reasons why governments are concerned with high unemployment.[10]

MacroMacro Policies

• Explain the key macroeconomic objectives of the Singapore government.[10]
• Assess the effectiveness of Singapore's existing macroeconomic policies in reducing unemployment.[15]
• Discuss whether efforts to curb inflation may create economic trade-offs or problems for Singapore.[15]
• Evaluate the overall impact of a currency depreciation on an economy's performance.[15]
• Explain one demand-side and one supply-side factor that may lead to a depreciation of a country's currency.[10]
• Discuss whether the implementation of policies for price stability will always lead to trade-offs in Singapore's economic performance.[15]
• Assess whether increasing the retirement age is the most effective way to ensure fiscal sustainability in an ageing economy.[15]
• Explain why governments aim to achieve fiscal sustainability.[10]
• Discuss the effectiveness of different macroeconomic policies in helping Singapore achieve a healthy balance of trade.[15]
• Evaluate whether focusing on exchange rate policy would be more effective than discretionary fiscal intervention in helping Singapore recover from the COVID-19-induced recession.[15]
• Explain the economic impact of the COVID-19 pandemic and how discretionary fiscal policy can help support recovery during a recession.[10]
• Explain the impact of fiscal imbalances on an economy.[10]
• Assess the view that providing subsidies for education and retraining is the most effective way to promote inclusive growth in an economy.[15]
• Discuss whether keeping interest rates low, on balance, will allow the US government to achieve price stability.[15]
• Explain how lowering interest rates can help reduce unemployment in the United States.[10]
• Discuss whether supply-side policy is the most appropriate policy to be used in addressing stagflation.[15]
• Discuss whether monetary policy by itself is sufficient to tackle COVID-19-related unemployment in Singapore.[15]
• Explain why using a mix of economic policies is essential for the Singapore government to meet its various macroeconomic objectives concurrently.[15]
• Explain why low inflation, full employment, and sustainable growth are commonly pursued as key macroeconomic policy objectives by governments.[10]
• Given that producers of price elastic goods may see higher revenues, should oil-exporting nations respond to deflation through fiscal stimulus or by addressing its underlying causes?[15]
• Discuss whether supply-side policies are effective in increasing the standard of living.[15]
• Evaluate whether market-based supply-side policies are the most effective approach to promoting economic growth during periods of economic uncertainty.[15]
• Evaluate how effective an exchange rate depreciation is in enhancing a country's standard of living.[15]
• In light of Japan's ageing population, should the government place greater emphasis on tackling deflation or on cutting its fiscal deficit?[15]
• With the aid of a diagram, explain one demand and one supply factor that would cause a depreciation of a country's currency.[10]
• Discuss the most appropriate policy measures that should be taken to reduce youth unemployment in China.[15]
• Discuss the extent to which supply-side policies will lead to an improvement in standard of living.[15]
• Discuss whether increasing the retirement age in a country with an ageing population is the best policy measure to attain fiscal sustainability.[15]
• Discuss whether the UK should prioritise reducing inflation over promoting economic growth and whether increasing interest rates is an appropriate policy to deal with stagflation in the UK.[15]

MacroTrade and Globalisation

• Examine whether globalisation and openness to external markets have brought advantages to Singapore's economy.[15]
• Explain the trend towards globalisation in recent years.[10]
• Discuss whether implementing protectionist measures is the most effective way to deal with unemployment and income inequality in a country such as the U.S.[15]
• Explain how Free Trade Agreements like NAFTA can lead to unemployment and greater income inequality within a country.[10]
• Discuss whether protectionism can be justified under certain economic conditions.[15]
• Explain why the pattern of trade of an economy may change over time.[10]
• Evaluate how protectionism affects nations facing trade restrictions, and discuss if it brings lasting benefits to the economy that imposes them.[15]
• Explain the potential effects of protectionism on an economy's growth, inflation, and overall standard of living.[10]
• Explain factors leading to deglobalisation in recent years.[10]
• Explain the possible impacts of export bans on both the countries that implement them and the countries that rely on those imports.[10]
• Explain the factors that might cause a country's comparative advantage to shift over time.[10]
• Evaluate the strategies a government could adopt to achieve greater self-sufficiency and assess whether, on balance, these strategies are beneficial.[15]
• Explain the trade-off between efficiency and resilience that globalisation has created in modern economies.[10]
• Explain the reasons behind the growing anti-globalisation sentiments, particularly in developed countries.[10]
• Assess whether measures aimed at correcting a trade deficit could lead to difficulties for a country's economy.[15]
• Explain the impact of a sustained trade deficit on an economy.[10]
• Discuss whether efforts by the government to correct a sustained trade deficit could be damaging to the economy.[15]
• Identify and explain factors that can contribute to a trade deficit in an economy.[10]
• Explain why it is important for a government to avoid running a large and prolonged trade surplus or deficit.[10]
• Evaluate the potential effects of China's push for sustainable economic growth on its balance of payments.[15]
• Evaluate how a rise in foreign direct investment might affect Singapore's economic performance.[15]
• Explain the factors that led to Singapore receiving the highest FDI inflows in the Southeast Asia region.[10]
• Discuss whether a depreciation of currency would be of overall benefit to an economy.[15]
• In view of the rising anti-globalisation sentiments globally, assess the measures that the Singapore government can adopt to sustain its global competitiveness.[15]
• Explain why anti-globalisation sentiments have gained momentum in various parts of the world, particularly in developed economies.[10]
• Discuss the policies the Singapore government can adopt to maintain a healthy balance of trade.[15]
• Explain why a government should avoid a large and persistent balance of trade surplus and deficit.[10]

MacroSingapore Application

• Discuss policies that Singapore can adopt to address adverse impacts from deglobalisation.[15]
• Examine how successful the Singapore government might be in addressing the economic challenges caused by export restrictions from abroad.[15]
• Discuss whether Singapore's efforts to enhance its global competitiveness could result in unintended consequences.[15]
• Given the rise in anti-globalisation sentiments globally, assess the measures Singapore can adopt to stay globally competitive.[15]
• Discuss the policy options the Singapore government could adopt to address the economic effects of these structural changes.[15]
• Explain the possible economic effects of these structural changes on Singapore's economy.[10]
• Discuss whether raising labour productivity alone is sufficient for Singapore to achieve its macroeconomic objectives.[15]
• Assess the relative effectiveness of supply-side versus demand-side policies in achieving inclusive growth in Singapore.[15]
• Explain the reasons behind increasing income inequality in Singapore.[10]
• Discuss the effectiveness of supply-side policies in delivering growth that is both inclusive and sustainable, considering the events mentioned.[15]
• Assess whether price stability should take precedence over other macroeconomic objectives in Singapore's current economic climate.[15]
• Explain why the Singapore government chooses exchange rate as a policy instrument over interest rate policy to manage inflationary pressures.[10]
• Discuss whether raising government revenue through taxation or enhancing productivity is the better approach to promoting inclusive growth while ensuring long-term fiscal health.[15]
• Explain what is meant by inclusive and sustainable economic growth.[10]
• To what extent can Singapore rely on exchange rate management and supply-side policies to address issues such as slow growth, income inequality, and declining trade.[15]
• Evaluate whether Singapore's status as an open economy supports improvements in its living standards.[15]
• To what extent should the Singapore government focus on promoting inclusivity rather than boosting productivity in its efforts to achieve higher economic growth?[15]
• Discuss the effectiveness of the policy measures adopted by the Singapore government to address inflation.[10]
• Discuss the appropriateness of the policy measures that the Singapore government can adopt to tackle the economic impacts of an ageing population, geopolitical risks and climate change.[15]
• Explain the likely economic consequences of structural changes such as an ageing population, geopolitical risks and climate change for Singapore's economy.[10]
• Assess whether the policies designed to achieve price stability would inevitably result in trade-offs for Singapore's economy.[15]
• Discuss the extent to which a minimum wage law is more appropriate than tightening foreign worker quota policy to reduce income inequality in Singapore.[15]