09.+Extended+Essay+in+Economics

09. Extended Essay in Economics


 * __Introduction __**

I am happy that you have shown interest in doing your EE in Economics. I am also pleased to supervise you, but you need to show me more than just mere enthusiasm. Do you have a good title? Do you know how to begin?

An extended essay in DP is not the same as PP in MYP. It is not just to write something to describe what you have done in a project or to collect everything you can find out about a subject and summarize it.

It is more like a ** research ** paper of which the goal is to ** present an answer to an interesting problem. ** You are using your own ** interpretation and arguments to answer the question; all these are supported by economic theories and concepts and analysis of data and information **. The most exciting part about doing an EE is the process of searching for an answer to the problem.

__**Assessment **__
 * All extended essays are marked on a scale from 0 to 34. This maximum score is made up of the total criterion levels available for each essay. Criterion levels will be awarded to each extended essay using a best match model. For each criterion, examiners are instructed to identify the level descriptor that is most appropriate (i.e. the best match) for the extended essay under consideration, rather than to progress upwards through the levels until the essay fails to meet one or more aspects of the descriptor.





__**Choosing the Research Question (RQ) **__ Here are some things to keep in mind as you consider doing your EE in economics: >
 * You should do an adequate literature review on you topic before narrowing your question.
 * Select a topic related to your own reality: your residing area, your school, your parent’s work, etc.
 * Scale down your topic to a reasonable size (adequately covered by 4000 words) ; thus better local, not national.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Make sure to have the necessary sources available. <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px;">Keep an annotated bibliography of your early sources; it will be very useful to you.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">You must use data you have collected yourself [primary data]
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Possess a firm command of the relevant economic theory
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Pose your RQ in the form of a hypothesis, not a description

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Some examples of EE RQs in different sections:
 * <span style="color: red; font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Please take note that not all the following are positive examples; they are just provided to give you an array of topics that you may consider during your thinking process. Nonetheless, those with a link will lead to good EE examples. **

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Microeconomics:
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent did stopping the supply of the Home Ownership Scheme flats increase the secondary private residential property price between 2003 and 2008 in Hong Kong?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">The effects of a new government economic policies on a local industry market in a city.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">How did free newspaper X survive in Hong Kong?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">The wet market/antique shops of the street market <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2px;">in my village <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;"> is it a case of perfect competition/oligopoly?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Changes in standards of living under China’s transition.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Are the priced newspaper firms earning abnormal profits before the entry of the free newspapers?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent are the free printed newspapers as a media of advertising in my community operating in an oligopoly?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent is the product X providers at school Y characterize a contestable market?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent does the recent increase in tobacco tax affect the demand for cigarettes in Hong Kong?
 * <span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;"> Will the recent policy of cutting bakery prices lead to increased revenue for the Coles supermarket in Neutral Bay, Sydney?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent does the plastic bag levy/buyer stamp duty affect the sales of the convenience stores/the prices of the secondary properties in my residential area since its imposition?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">The shop in my village. Can it remain a monopoly even when entry is not restricted?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">What market structure does X operate in?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Does X achieve allocative and productive efficiency?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Will the privatization of X lead to increases in allocative and productive efficiency?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Is the behavior of X consistent with the theory of oligopoly?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Do the social costs of X outweigh the social benefits?

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Macro/International Economics:
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">How has Hong Kong’s fiscal policy effectively control the inflation from 2007 to 2008?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent did the tax reform in Country S affect its growth and development?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Does the official Venezuela inflation rate truly correspond to the inflation that households in Venezuela are experiencing?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent does the Chinese-Pakistan Free Trade Agreement affect small producers of X industry in Pakistan?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Has the Kenyan central bank’s policy of interest rate cuts led to a rise in new car sales in Nairobi?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">To what extent will the policy of supplementary income payments be effective to boost the Gross Domestic Product of Country Z in 2014?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Is forming a producers' group have effects on the prices and incomes of women collectors of Product X in the Y Region of Country Z?

__**<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">Preparation for First Interview **__ <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Before we have our **<span style="color: blue; font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">first interview **<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;"> to discuss your idea, I will need you to prepare the following information:
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">**The research question you intend to pursue**: Example: How effective is government intervention on the sale of cigarettes?
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">**How you intend to collect your data**: Example: Use sales data from three tobacco shops before and after the implementation of a new tax on cigarettes
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">**The items of economic theory you intend to use**: Example: Price Elasticity, Demand And Supply, Cost/Benefit Analysis, Income Effect
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">**The hypothesis you intend to test**: Government intervention has not reduced the sale of cigarettes.

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">Read more below to learn more on ...

__**<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">Sections of the Essay **__ <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">The upper limit is 4000 words and includes the introduction, the body, the conclusion and any quotations, but does not include:
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">acknowledgements
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">the contents page
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">maps, charts, diagrams, annotated illustrations and tables
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">equations, formulas, and calculations
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">citations, references (in-text; e.g. (Krugman, 2007) does not count)
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">footnotes, endnotes
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">the bibliography
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">appendices
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">the reflection on planning and progress form (RPPF)

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;"> Sections covered could be as follows:
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Title page (Please click here for the title page formatting you need to use.)
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Content page
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Introduction
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Hypothesis
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Methodology
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px; line-height: 27.2999992370605px;">Theory and Terminology
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px; line-height: 27.2999992370605px;">Data and Analysis
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Conclusion
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Limitation and Further Research
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px;">Bibliography
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Appendices

//<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">Please take note that essay in excess of 4000 words is subject to penalty and examiners are not required to read material in excess of the word limit. //
 * //<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Appendices, footnotes and endnotes are not an essential section of the EE and examiners are not required to read them. //
 * //<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Unless considered essential, complete lists of raw data should not be included in the EE. //
 * //<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">You should NOT constantly refer to material presented in an appendix, as this may disrupt the continuity of the essay. //

__**<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">What Kind of Data Should an EE Include? **__ <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">A good essay should start first by forming a good RQ and hypothesis related to appropriate theory/theories. Then, acquiring the evidence to either support or disprove the specific question (and hypothesis). It is advisable to contains a good selection of primary data and secondary data.

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Before any pieces of data are collected, you should carefully design their research methods to ensure the accuracy, quality and integrity of the data. If there are flaws in the way that data is collected, the research will not be considered valid. Thus, the **__data collected should be relevant to variables__** described in the theory/theories.

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">You could present in your EE an in-depth analysis of <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px;">a **__good selection of__** <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">**__primary data__** that is __**checked against/supported with secondary data**__. For example, a <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px;"> survey of cigarette sales after a tobacco tax increase, checked against/supported with secondary data on cigarette consumption and consumer incomes will provide sufficient resources to analysis.

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">It is **__not good to just rely on the internet__** for all of their secondary research since you will be penalized for this approach in some of the criteria. S <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px;">tudents who adopt innovative or clever ways to collect data will usually be rewarded in Criterion A by the examiner.

<span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;"> Each EE is assessed against a set of criteria. The set is very detailed and includes 5 different criteria (of which the marks add up to 34 marks). <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 18.2000007629395px;"> On top of each assessment criterion, there is an additional note to explain what you should do to maximize you marks.
 * __<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">How Could You Improve Your Overall Marks in an EE? __**

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">The highest level in some of these criteria <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">are easier to attain than others. For instance you should try to achieve the highest marks for the criteria under 'Knowledge and Understanding' and 'Presentations' as they are just basic understanding of the topic, form and style needed for a research essay.

__**<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">The Draft **__
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">I will read and comment on the First Draft of the completed extended essay. //**This does not include editing!**// I will only give feedback verbally.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">I am only permitted to answer questions and offer advice, but not to read more than one draft of the completed essay before the final version is submitted for authentication by me and assessment by IB.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">You may also present a section of the essay for me to comment, for example, to check that citation and referencing has been properly understood.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">Students should make arrangements to record the comments made during the review of the draft. Video or audio recording of the interview is possible with prior permission.

__**<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">What must my final submission include? **__
 * 1) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">A clear and precise title, which indicates the focus of the essay.
 * 2) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">A clear and precise research or thesis question.
 * 3) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">A Table of Contents page
 * 4) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">A main body with numbered pages. sub-headings and chapters are permitted as well; this technique is useful to increase clarity.
 * 5) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">A conclusion.
 * 6) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">Reference notes/citations. Most commonly used are MLA (for Economics)
 * 7) <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">A Bibliography.

__**<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 180%;">What is the viva voce? **__
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">As a supervisor, I will have an interview (i.e. the viva voce) with you; it is the conclusion of the process.
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;">You will have the opportunity to discuss the challenges and triumphs involved in writing your EE and, perhaps more importantly, to reflect upon what you learned about your subject (including the ‘further questions’ which should be in your mind upon completion of your research paper).
 * <span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%; line-height: 1.5;"> This interview will be scheduled for approximately fifteen minutes.

<span style="font-family: "Palatino Linotype","Book Antiqua",Palatino,serif; font-size: 140%;">**Click** **<span style="font-family: "Palatino Linotype","Book Antiqua",Palatino,serif; font-size: 140%;"> **<span style="font-family: "Palatino Linotype","Book Antiqua",Palatino,serif; font-size: 140%;"> **or** **<span style="font-family: "Palatino Linotype","Book Antiqua",Palatino,serif; font-size: 140%;"> **<span style="font-family: Palatino Linotype,Book Antiqua,Palatino,serif;"> **for the MLA Referencing Guide by Purdue** **University, US** **.**

<span style="font-family: &#39;Palatino Linotype&#39;,&#39;Book Antiqua&#39;,Palatino,serif; font-size: 140%;">

Source: https://owl.english.purdue.edu/owl/resource/717/14/