Individuals and Societies  : Economics


Writing in economics language

by angela on 09 Aug 2004 11:05 pm

Like any other subjects, for Economics, revision is essential. However here is something extra. My teacher actually told me that writing in economic language can impress the examiners. Here is an example:

If you are given a simple question, on how an increase in interest rate affects the exchange rate of US $, how would you answer it?

“An increase in interest rate will increase demand of US $, because people get more money from interest if they save in US $, therefore they will sell the currency of other countries and buy US$“

“A increase in interest rate will increase demand of US $, because it increases the opportunity cost (best alternative forgone) of saving in other currencies, thereby they will switch out of them into US $, as US$ offers them a higher return from interest”

Both of them mean exactly the same thing in the same level of explanation, but why the latter sounds better if you are an economist? No matter you are doing short answers, long essay, data response or coursework, you are likely to impress the examiner if you write in economics language.

Refer to the foundations of economics, utility, opportunity cost… terms you can use to describe “economically” in your work. This is done through practise. If you are using many economics terms this can also help you clarify the concepts from an economics perspective.

Having said that, I am not an expert as well, but I think it worked for me, here you go and good luck!


Location: Hong Kong

by Quidam on 15 Sep 2004 11:27 am

great... ill definetly take that in mind


by Guest on 21 Sep 2005 12:19 pm

great... ill definetly take that in mind

Do people reply to responses here?[:I]



Useful Links

by Linda on 16 Aug 2004 03:39 pm

I wouldn't waste my money on a programme like that. I'm sitting on some old exams and a few textbooks (long story) I'll post some in Moodle if that's what students want.


Location: Warwick Uni

by kildare on 19 Aug 2004 08:52 pm


Location: Geneva/Ireland/Oxford

by angela on 24 Aug 2004 08:07 pm

I am sorry I deleted Marie's post, you know that web site on UKL that guy kept advertising.

Here are some useful links: ... _index.htm

The first link is an online economic textbook but some of the material is missing, and the second one has loads of detailed information in various formats. However I would like to stress that this is good only for reference, always refer to your own notes and textbook, I don't think it's a good way of studying solely browising these web sites


Location: Hong Kong