Economics is about more than money. It’s a study of people. How people deal with money and how these behaviors go on to shape the rest of the world. It has a little bit of politics, sociology, and even psychology. If you haven’t already guessed it, economics is pretty powerful stuff. If you’d like to try your hand at writing an economics essay, you should consider entering the Harvard International Economics Essay Contest (HIEEC). HIEEC asks high school students to write essays that showcase their knowledge and ability to utilize economic theories in writing and apply them to real-life examples. If you’re intimidated, don’t be. You can write a powerful economics essay by focusing on the following: Prompt Selection: The contest has a set of annual prompts in categories like “Environment,” “Inequality,” “Workforce & Education,” and “Crypto/Finance.” Be sure to carefully read each prompt and make sure that you select the right one for you. In other words, don’t try to show off and pick the hardest-seeming prompt—select the one you’re passionate about and your essay will be better. Research: As HIEEC prompts address “hot topics” related to economics and global affairs, be sure to thoroughly research your topic before you write. Rather than reading a majority of news articles and websites, you should be gathering the bulk of your research from scholarly sources. This means journal articles, dissertations, theses, and so on. We recommend using Google Scholar to gain free access to a wide variety of sources that will help you write your essay. Economic Theory: HIEEC is serious about essays showing an understanding of economic theory. After you research your topic, try to identify one main economic theory relevant to your prompt and think about ways you can utilize it in your thesis. For instance, the theory of supply and demand describes how the changes in the prices of resources, commodities, and products affect supply and demand—can you think about ways this theory is relevant to bitcoin prices? If so, do some more research on this theory in particular and use it as a “tool” throughout your essay. Outline: Before writing, be sure to make an outline that includes your essay structure and basic content. A basic HIEEC could look something like: Introduction: Hook: Thesis: Note: You should always come up with a thesis FIRST. Key Terms Key term 1: You should define any key terms related to your economic theory here. Key term 2: Claim 1: Example 1: You should use the scholarly sources from your research as examples throughout your claims. Example 2: Claim 2: Example 1: Example 2: Counterclaim: As HIEEC prompts contain controversial ideas, you should always include a counterclaim that states what somebody might say who DISAGREES with your thesis and why they are wrong. Objection 1: Objection 2: Conclusion: Takeaway message: Be sure to end your essay with a thought-provoking sentence! Remember, former UK Prime Minister David Cameron once said, “The economy is the start and end of everything.” If you want to examine how the world works, start by writing about the economy.
