How do I answer an economics essay question?

Structure: A typical essay should start with an introduction, make 2-4 points, with each point having one paragraph to explain and analyse it and perhaps a separate paragraph to evaluate it, depending on how much evaluation it requires, and should finish with a conclusion.

What to Include: 

Introduction: Your introduction should start with defintions of concepts that would not be understood by non-economists. Definitions should be clear and concise, without introducing new terms that would also require a definition.

Main Body: Each point in the main of your essay should follow these steps. Firstly, briefly outline your point. Using words such as 'the strongest/weakest argument' can add evaluation right from the start. Secondly, explain your point using chains of analysis. Try to use as much economic terminology as possible. Thirdly, answer the question. How does this policy remedy the situation? Alternatively, why is this a consequence of the situation? (Depending on the type of question). Finally, evaluate your point. Compare it with other points by considering the short/long run, effects on different groups/stakeholders and questioning the assumptions in your analysis. This may require a separate paragraph.

Conclusion: Your conclusion should start by clearly answering the question. You should then justify this conclusion by weighing up each of your points using the aforementioned evaluative techniques, using real-life examples throughout. A good way to do this is by arguing different things will/should happen in the short/long run. Provide balance in your conclusion as you need to recognise that nothing is guaranteed in economics.