Microeconomics Essay: Topic of Relevance
A big challenge many students face is coming up with a unique topic to write about. Crafting the right question is a crucial part of your writing progression. Just one poor choice and the results can be devastating. In order to choose the right choice topic, figure out which topic you are conversant with because the more you know about it, the easier it will be for your writing process. Choosing your topic in haste can result in very disappointing results since your final work will be jumbled up.
Take your time while figuring out the topic of discussion that you are familiar with, do personal research of how best you know it and if it fits your description, draft it. Many students assume that sitting down to brainstorm, conduct research and finally structuring the right question is a waste of time. What you should understand from this is that the time you have invested will save you more time and energy when writing down your essay. Our article has researched and came up with the 65 common topics, particularly in areas microeconomics essay papers focus on. The list consists of both broad and narrow scoped topics.
Important Areas of Research
Microeconomics is a branch of economic science that entails elements of a scientific study. This study through research has conveyed ways of helping economists predict economic propensities. For instance, they can foresee the market reaction when a specified group of individuals comes up with a purchasing decision. Keep in mind that this model is based on the predictions which are limited to highlighting possible changes on the market. This relates to the market incentives which may give you different results from the ones you predicted.
Below is a list of 15 broad-spectrum topics that any micro-economics paper question can be crafted around:
- Finding a balance for supply and demand
- Opportunity costs
- Information economics
- Elasticity (the extent on variable response can quickly change in another variable)
- Ecological problems facing the US and Europe due to planned economies
- Production costs
- Game theory
- Flawless competition
- Consumer demand theory (the ability of the consumers to strike a balance between the need for buying a product, or services rendered and the costs charged).
- Economics of labor
- Market structure and the systems that run it
- Conditions to be met or a microeconomic model to be implemented. Mention the interaction between natural, industrial and household.
- An argumentative essay based on the microeconomic market organization
- Theory of production (a study that explains how inputs are converted to outputs).
- The effect of monopoly on the market (how a single dominant organization that supplies a particular commodity influences the marketplace dynamics and the consumer demand theory
Microeconomics Essay Questions Relating to Supply and Demand
- How is pricing influenced by the dynamics of supply and demand
- How is the labor market a major influence of supply and demand? Is there an active role the labor union contributes to this?
- How do diverse market structures influence supply and demand?
- Microeconomics essay questions that focus on Ecology and Nature
- How do seasonal variations affect the economy?
- Discuss ways you can reduce the influence of a small business on an environment
- How do companies maneuver through ecology based on market and planned economies?
- What is the overall effect of enforced travel fees on eco-responsibility?
- What are the indicators of ecological economics that help define its effectiveness?
- What is your take on the concept of green business process management? Is a crucial part of environmental economics?
- Does the concept of sustainable development really assure sustainability in terms of Environmental Economics, Ecological Economics & Green Economics?
- What is the ultimate purpose of Ecology, and what do we hope to achieve in advancing the field?
- What do you think are the differences between green economy and ecological economics?
- Which paradigm(s) is (are) the most suitable for assessing the economy-environment relationship?
- How can ecosystem service (ES) assessments be designed to include equity issues about the distribution of benefits and costs of ES use?
- Explain the concept of Payment of ecosystem services and watershed restoration
- How to quantify forest ecosystem services such as aesthetic values, recreation, etc.?
- What is an ecological modeling reference?
- Can green economies exist outside green markets?
- What is the basic difference between ‘Ecological Economics’ and ‘Environmental Economics’?
Micro-economic Essay Based on Healthcare
- Economic models that are applicable in the informal payments of healthcare systems
- Describe what you can learn on cost-effectiveness analysis of healthcare interventions
- What are the main characteristics of a private healthcare care system?
- Explain the correlation of healthcare profits to taxation
Micro-economic Essay Questions on Business, SMB, and Manufacturing Economics
- Problems experienced by a new business due to the current market dynamics?
- What is the law of diminishing returns and how do you handle its effect on input?
- How do you develop the profit returns of a business?
- What is the impact of local manufacturing to the community?
- What is the effect of purchasing local produce on the economy of a country?
- What are the main aspects of a successful business?
- What are the advantages of having a good working atmosphere for a business?
- What ways can a business employ to survive an economic crisis?
- How do small companies compete with well-established rivals?
- Do a case study of business foreseeing closure and make an analysis of alternatives?
- Carry out research and document the local trends within a community that influence the expansion or opening of a business
- Benefits of the no-sale policy on a business
- What are the effects of the recession on a company? Provide a specified company as your specific enterprise to talk about.
- What are the ways of reducing risk and loss in an expanding business?
- Define and analyze the traits of a strong leader in a business enterprise
- What are the strategies you need to employ to ensure a small business does not go bankrupt?
- Does crowdfunding have any benefits? discuss
- Discuss the benefits of creativity and their influence on the success of a company
Micro-economic Essay Based on Aspects of Social Media, PR, and Advertising:
- Explain ways advertising influences purchasing decisions
- How are advertising and microeconomics associated? What are the benefits of this?
- What are the chances that a business will successfully maneuver through a quality related scandal?
- The importance of social media advertising in encouraging supply
- Explain pricing as compared to salary in relation to a minimum wage increase
The above samples are relevant in your research for ideas about essays that relate to micro-economics. By reading through this list, I hope that you will get inspired to come up with your own. However, this list should be utilized as a guideline to tailor your own essay question that you can best handle based on your knowledge about it. The topics covered are just a few out of the many that you can find upon research.
A Sample Essay for Microeconomics
Below is an essay that we have created for you to give you an in-depth understanding of the writing of a microeconomics essay:
QUESTION: Has industrialization posed a threat to nature? What effects does the destruction of nature have on economics?
“Between the years 1970 up to 2012, the economy of the United States has grown steadily to the 100 percent mark. This, however, was not easily achieved, since the natural environment has suffered pollution. Even with the many anti-pollution policies made and adopted by the United States government, the action towards upholding their integrity has been minimal. Prior research estimated that carbon dioxide emissions have only decreased by 12% within the period of 2007 and 2012. Carbon dioxide, however, is the one out of the many toxins that affect the environment. This is a clear indication of the negative effects that many businesses and companies contribute to with their ignorance on controlling and eliminating pollution.
Microeconomics describes pollution as an externality. The meaning of an externality is an act that distresses third party people who were not related to the action. This phenomenon can pose both positive and negative problems. For instance, if you live in an area where there is a nightclub which you do not attend but you always hear the loud thuds and noises each time it is operational, you are considered an externality. This is a situation where you can you are not part of the activities that are around you but the events happening reach you. This can be either a positive or negative experience depending on how you feel about it. Pollution, however, will always be a negative externality since it poses harmful effects on humans, animals, and plants.
With the increase of demand for commodities, production rates have been increased; thus an upsurge in the toxic by-products which pose a threat to the health of the environment. This trend sieves through society’s moral standards and eventually becomes a custom to them. Maintaining a healthy environment can only be achieved if the amounts of commodities manufactured by a company are reduced. This, however, will be hard to achieve because everyone is out to search for their source of wealth, and do not care about the consequences that might arise.
As a way for managing this trend, most of the economists suggest that each cost of production should have a budget for the cost of pollution. The list provided should cover the following aspects; the influence that the pollution has on human health and safety, the resulting effect it extends to property value, its effect on recreation events and its effect on the wildlife habitat. Here is an example of how the cost consideration should be summed up:
A company manufactures freezers at a production cost estimated at $700 per unit; the cost of production will increase to $150 per unit if pollution management production is included in the production of the freezer. Several units that could be produced will take a downward dive due to the increased expense. This will affect the sales price which will shoot up since the cost production has significantly gone up. Within the customer’s perspective, when it comes to choosing a product that is eco-friendly, or the one that lacks this element and is cheaper, the customer will always opt for the cheaper option. This means that the eco-friendly companies will suffer a loss despite the fact that their product is of more quality than the one they chose.
To reduce pollution, the consumer trends adopted by many should change and opt for eco-friendly products. To enforce this dynamic, government legislation may have to be put into order, where the damage cost exceeds the normal cost to ensure producers change their designs to more eco-friendly products. This type of conditions will be the reason for the shift of economic perspective to the protection of the environment.”