home economics term paper

Home Economics Education: Preparation for a Sustainable and Healthy Future

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• Helen Maguire &
• Amanda McCloat  

Part of the book series: State of the World ((STWO))

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As complex societal and ecological challenges increasingly jeopardize the future of the planet, it is critical that humans, and especially younger generations, develop new ways of being in the world. All global citizens urgently require new modes of thinking and doing. As we settle into the realities of the Anthropocene—an epoch in which human beings are changing the Earth in profound and potentially irreversible ways—fundamental transformations in learning are required to enable all citizens to adapt. People everywhere will need to develop applicable life skills, appropriate competencies in specific domains, and improved critical and reflective capabilities.

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Juliet Schor, “Foreword,” in Arjen E. J. Wals and Peter Blaze Corcoran, eds., Learning for Sustainability in Times of Accelerating Change (Wageningen, The Netherlands: Wageningen Academic Publishers, 2012), 15–18; Damian Carrington, “The Anthropocene Epoch: Scientists Declare Dawn of Human-influenced Age,” The Guardian (U.K.), August 29, 2016.

Amanda McCloat and Helen Maguire, “Reorienting Home Economics Teacher Education to Address Education for Sustainable Development,” in Miriam O’Donoghue, Global Sustainable Development: A Challenge for Consumer Citizens , e-book, 2008; Eleanore Vaines, “Wholeness, Transforming Practices and Everyday Life,” in Mary Gale Smith, Linda Peterat, and Mary Leah de Zwart, eds., Home Economics Now: Transformative Practice, Ecology and Everyday Life (Vancouver, BC: Pacific Educational Press, 2004), 133–65.

Sue L. T. McGregor, “Everyday Life: A Home Economics Concept,” Kappa Omicron Nu FORUM (National Honor Society for the Human Sciences) 19, no. 1 (2012); Vaines, “Wholeness, Transforming Practices and Everyday Life.”

Sue L. T. McGregor, Locating the Human Condition Concept Within Home Economics , McGregor Monograph Series No. 201002 (Halifax, NS, Canada: 2010), 240; Irish Department of Education and Skills, Leaving Certificate: Home Economics Scientific & Social Syllabus (Dublin: The Stationery Office, 2001), 2; Irish Department of Education and Skills, The Junior Certificate Home Economics Syllabus (Dublin: The Stationery Office, 2002).

Roland Tormey et al., “Working in the Action/Research Nexus for ESD: Two Case Studies from Ireland,” International Journal of Sustainability in Higher Education 9, no. 4 (2008): 428–40; International Federation for Home Economics, “IFHE Position Statement: Home Economics in the 21st Century” (Bonn, Germany: 2008); Helen Maguire et al., “Images and Objects: A Tool for Teaching Education for Sustainable Development and Responsible Living in Home Economics,” in Ulf Schrader et al., eds., Enabling Responsible Living (Berlin: Springer, 2013).

Suzanne Piscopo and Karen Mugliett, “Redefining and Repackaging Home Economics: Case of a Mediterranean Island,” Victorian Journal of Home Economics 53, no. 1 (2014): 2; Japan Association of Home Economics Education, Home Economics Education in Japan 2012 (Tokyo: 2012); Finnish National Board of Education, “Part IV: Chapters 7.10–7.21,” in National Core Curriculum for Basic Education 2004 (Vammala, Finland: 2004); Skolverket (Swedish National Agency for Education), Sweden: Curriculum for the Compulsory School, Preschool Class and the Recreation Centre 2011 (Stockholm: 2011).

Consumer Classroom, “Resources,” www.consumerclassroom.eu/online-teaching-resources .

University of Kentucky, College of Agriculture, Food and Environment, School of Human Environmental Sciences, Family & Consumer Sciences Extension, Building Strong Families for Kentucky: 2014 (Lexington, KY: 2014). Box 14-1 from the following sources: Isadore Reaud, personal communication with author, September 19, 2016; Pornpimol Kanchanalak, “It’s a Bird, It’s a Plane, It’s the Bamboo School,” The Nation , October 9, 2014; Mechai Viravaidya Foundation, “Mechai Bamboo School,” www.mechaifoundation.org/index2.php , viewed October 15, 2016; Mechai Viravaidya, “Mechai Pattana Bamboo School – Buriram, Thailand,” video, September 14, 2012, www.youtube.com/watch?v=kpuPr54kJBU .

Presentation Secondary Mitchelstown, “Green Schools,” http://presmitchelstown.ie/?page_id=1805 .

Glenamaddy Community School, “Home Economics,” www.glenamaddycs.ie/index.php/subject-departments/home-economics .

Gaelic Athletic Association (GAA), “Healthy Club Focus: GAA Recipes for Success!” March 2, 2016, www.gaa.ie/gaa-tv/healthy-club-focus-gaa-recipes-for-success/ .

Utah Education Network, “Family and Consumer Sciences: Classroom & Laboratory Management,” www.uen.org/cte/family/class .

Adam Vaughan, “Failure to Teach Cooking at School ‘Contributing to £12bn a Year Food Waste,’” The Guardian (U.K.), July 13, 2016; Hedmark University of Applied Sciences, “The Partnership for Education and Research About Responsible Living (PERL/UNITWIN),” http://eng.hihm.no/project-sites/living-responsibly ; Little Flower Girls’ School, “Fair Trade Does Great Trade,” www.littleflowerschool.co.uk/about/latest-news/241-fair-trade-does-great-trade .

St. Aidan’s Comprehensive School, “First Year Textile Projects,” www.staidans.ie/first-year-textile-projects.html .

Heathcote High School, “Home Economics,” www.heathcote-h.schools.nsw.edu.au/curriculum-activities/faculties/home-economics .

Donna Pendergast, “Sustaining the Home Economics Profession in New Times: A Convergent Moment,” in Anna-Liisa Rauma, Sinikka Pöllänen, and Pirita Seitamaa-Hakkarainen, eds., Human Perspectives on Sustainable Future, Proceedings of the 5th International Household and Family Research Conference (Joensuu, Finland: University of Joensuu, 2006), 3–32; Donna Pendergast, “The Intention of Home Economics Education: A Powerful Enabler for Future Proofing the Profession,” in Donna Pendergast, Sue L. T. McGregor, and Kaija Turkki, Creating Home Economics Futures: The Next 100 Years (Samford Valley, Queensland, Australia: Australian Academic Press, 2012), 12–24; Terttu Tuomi-Grohn, “Everyday Life as a Challenging Sphere of Research, An Introduction,” in Terttu Tuomi-Grohn, ed., Reinventing Art of Everyday Making (Frankfurt: Peter Lang, 2008), 7.

Tuomi-Grohn, “Everyday Life as a Challenging Sphere of Research,” 9.

Box 14-2 from the following sources: World Health Organization (WHO), “Global Database of Age-Friendly Practices,” https://extranet.who.int/datacol/custom_view_report.asp?survey_id=3536&view_id=6301&display_filter=1 ; Tine Buffel et al., “Promoting Sustainable Communities Through Intergenerational Practice,” Procedia – Social and Behavioral Sciences 116 (February 21, 2014): 1,785–91; Ann Kristin Boström , Lifelong Learning, Intergenerational Learning, and Social Capital (Stockholm: Institute of International Education, Stockholm University, 2003); Alan Hatton-Yeo and Clare Batty, “Evaluating the Contribution of Intergenerational Practice,” in Peter Ratcliffe and Ines Newman, Promoting Social Cohesion: Implications for Policy and Evaluation (Bristol, U.K.: Policy Press, 2011); Mariano Sanchez et al., “Intergenerational Programmes: Towards a Society for All Ages,” Journal of Intergenerational Relationships 6, no. 4 (2008): 485–87; Judi Aubel, “Elders: A Cultural Resource for Promoting Sustainable Development,” in Worldwatch Institute, State of the World 2010: Transforming Cultures (Washington, DC: Island Press, 2010); Zohl de Ishtar, “Elders Passing Cultural Knowledge to Their Young Women,” Kapululangu Aboriginal Women Law and Culture Centre, December 9, 2012; Wendy Stueck, “Seabird Island Band’s Walks in Woods Aim to Pass Down Aboriginal Heritage,” Globe and Mail (Toronto), April 13, 2016; Jayalaxshmi Mistry and Andrea Berardi, “Bridging Indigenous and Scientific Knowledge,” Science 352, no. 6291 (June 10, 2016): 1,274–75; Ben Goldfarb, “Researchers Around the World Are Learning from Indigenous Communities. Here’s Why That’s a Good Thing,” Ensia , May 31, 2016; Nathalie Fernbach and Harriet Tatham, “Indigenous Knowledge and Western Science Unite to Save the Reef,” ABC News , June 2, 2016; Donald Huisingh, “New Challenges in Education for Sustainable Development,” Clean Technology and Environmental Policy 8, no. 15 (February 3–8, 2006); D’Vera Cohn and Jeffrey S. Passel, “A Record 60.6 Million Americans Live in Multigenerational Households,” Pew Research Center, August 11, 2016; International Longevity Centre Global Alliance, Global Perspectives on Multigenerational Households and Intergenerational Relations (London: International Longevity Centre–UK, March 2012); Sally Newman and Alan Hatton-Yeo, “Intergenerational Learning and the Contributions of Older People,” Ageing Horizons 8 (2008): 31–39; WHO, “WHO Global Network for Age-friendly Cities and Communities,” www.who.int/ageing/projects/age_friendly_cities_network/en/ ; Tiffany R. Jansen, “The Nursing Home That’s Also a Dorm,” CityLab.com , October 2, 2015; Lacy Cooke, “New Dutch Housing Model Lets Students Stay at a Senior Living Home for Free,” Inhabit, September 23, 2016; European Map of Intergenerational Learning website, www.emil-network.eu ; Kyle Wiens, “Why Seniors Are the Heroes of the Fixer Movement,” iFixit.org , June 14, 2014; Martin Charter and Scott Keiller, Grassroots Innovation and the Circular Economy: A Global Survey of Repair Cafés and Hackerspaces (Surrey, U.K.: Centre for Sustainable Design, University for the Creative Arts, 2014); Repair Café, “About Repair Café,” https://repaircafe.org/en/about/ ; WHO, World Health Report: Research for Universal Health Coverage (Geneva: 2013); Donald Ropes, “Intergenerational Learning in Organizations: An Effective Way to Stimulate Older Employee Learning and Development,” Development and Learning in Organizations 28, no. 2 (2014): 7–9; Lisa Quast, “Reverse Mentoring: What It Is and Why It Is Beneficial,” Forbes , January 3, 2011; Jane Wakefield, “Technology in Schools: Future Changes in Classrooms,” BBC News , February 2, 2015.

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Maguire, H., McCloat, A. (2017). Home Economics Education: Preparation for a Sustainable and Healthy Future. In: EarthEd. State of the World. Island Press, Washington, DC. https://doi.org/10.5822/978-1-61091-843-5_14

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Hearth - home economics archive: research, tradition, history, about: home economics, what is home economics.

The term "home economics" may call up stereotypical images of girls busily sewing and cooking in 1950s classrooms, images that have led many people to view this field as fundamentally narrow, dull, and socially conservative. In the 1960s and 1970s, the women's movement was often critical of home economics, seeing it as a discipline that worked to restrict girls and women to traditional domestic and maternal roles. More recently, however, researchers in the field of women's history have been reevaluating home economics, developing an understanding of it as a profession that, although in some ways conservative in its outlook, opened up opportunities for women and had a broad impact on American society. There was always a significant degree of disagreement among home economists, and among the legislators, policy makers, and educators who supported them, about what the field's mission should be. Some were focused on the home, while others were more concerned with the broader social environment. Some saw home economics as a vehicle for creating vocational and economic opportunities for girls and women and for educating boys and men about domestic skills, while others sought to enforce traditional models of sex roles and family life. However, even the most conservative models of home economics offered some women a path to careers as teachers and researchers. The books and periodicals that are being made available through the Core Historical Literature of Home Economics project document the history of this field in all of its ambiguity and complexity.

Although the term "home economics" did not come into wide usage until the early twentieth century, efforts to formalize and teach principles of domesticity go back to the mid-1800s. Increases in literacy and in the availability of printed materials during the nineteenth century made possible the emergence of a literature on homemaking. One of the most influential early examples was the Treatise on Domestic Economy for the Use of Young Ladies at Home (1841), written by Catharine Beecher (1800-1878), an educator and social reformer who was a half-sister of the abolitionist Harriet Beecher Stowe. Beecher argued for the importance of domestic life and sought to apply scientific principles to childrearing, cooking, and housekeeping, and she also advocated access to liberal education for young woman, although she opposed female suffrage on the grounds that women should leave the public sphere to men.

Other forerunners of home economics were the cooking schools that began coming into being in the 1870s. Women such as Maria Parloa and Fannie Farmer, both of whom taught at the famous Boston Cooking School, offered instruction in preparing healthful, low-cost meals. At first they provided training mainly for professional cooks, but over time they opened up their classes to an eager general public. Teachers during this period also published some of the first cookbooks directed at a large popular audience.

An important event in the development of home economics as an academic field was the passage of the Morrill Act in 1862, which led to the establishment of land-grant colleges in each state. Until that time, American higher education had focused largely on teaching the classics and on preparing young men for white-collar professions such as medicine, law, and the ministry. The Morrill Act mandated a wider mission for the institutions it funded, covering not only the traditional curriculum, but also research and instruction in practical areas of endeavor. These included what were called the "mechanic arts," but the major emphasis was on agriculture, given that the United States was at that time still a predominantly agrarian society. Unlike most private colleges, the land-grant schools were open to women, and, over time, a belief emerged that farmers' wives were also in need of scientific training in order to carry out what was then understood to be their role in rural life: management of the household. Activities such as cooking, housecleaning, sewing, laundry, care of the sick, and sanitation were all to be transformed and modernized through the application of scientific theories and techniques. In the last decades of the nineteenth century, the land-grant schools, along with a few private institutions, established courses of instruction in what was generally called "domestic science."

Ellen Richards (1842-1911) was one of the major figures in the emergence of home economics as a profession. As a young woman who had grown up in modest circumstances in a small town in Massachusetts, she defied convention by leaving home to attend the newly founded Vassar College, from which she received a bachelor's and later a master's degree. She went on to be the first, and for many years the only, woman to earn a degree at the Massachusetts Institute of Technology. After graduating, she taught at M.I.T. as an instructor of sanitary education. She was also active in public health and social reform efforts in the Boston area. Throughout her career, she emphasized the influence of environment on health and well-being.

Beginning in 1899, Richards, along with Melvil Dewey and other educators and activists, organized a series of annual gatherings that became known as the Lake Placid Conferences, because the first of these, and several of the later ones, was held at Lake Placid, New York. Out of these conferences, a movement took shape that slowly defined itself and began pursuing specific goals. At the first conference, participants agreed on the term "home economics," which was held to be sufficiently broad to cover a wide range of concerns, and they began energetic and successful efforts to promote the teaching of home economics in secondary schools and in colleges and universities. (Attentive readers will notice that the conference proceedings use unfamiliar spelling-a product of Dewey's spelling reform efforts.)

In 1908, conference participants formed the American Home Economics Association. This organization effectively lobbied federal and state governments to provide funding for home economics research and teaching, including adult education work through agricultural extension services, leading to the rapid expansion of educational programs. Over the following decades, home economists worked as homemakers and parents, and also played significant roles in diverse areas of public life. Many pursued careers in business, including the food industry, textiles and clothing, hotel and restaurant management, and interior design. Home economists also often found jobs in public-sector and nonprofit organizations in such fields as public health, institutional management, social work, housing, and, of course, education. In addition, home economists contributed heavily to public debate on a variety of policy issues, including social welfare, nutrition, child development, housing, consumer protection and advocacy, and standardization of textiles and other consumer products. The many facets of home economics are explored in more detail in the short essays that accompany each of the subject bibliographies on this web site.

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Home Economics and Household Management

The american middle-class home, history of home economics.

Although principles of domesticity were being taught as early as the mid 19th century, the term “home economics” was not applied to this area of study until the early 20th century. An increasingly literate population and the greater availability of printed materials in the 19th century catalyzed the consumption of literature on homemaking. Furthermore, in 1862, the Morrill Act was passed, establishing land-grant colleges in each state that were open to women, and that were mandated to foster research and instruction in practical areas of endeavor. At this time, the application of scientific theories and techniques modernized activities associated with home economics, such as cooking, laundry, sewing, housecleaning, care of the sick, and sanitation. This in turn led to the implementation of courses in “domestic science” at the end of the nineteenth century. In 1899, with the establishment of the Lake Placid Conferences, the term “home economics” was decided upon and activists began to call for the teaching of home economics in schools across the country. In 1908, conference participants formed the American Home Economics Association which went on to lobby federal and state governments for funding to facilitate the research and teaching of home economics.

In 1917, the Smith-Hughes Act mandated an emphasis on and provided funding for occupational preparation in home economics classes. Although this act undermined and codified gender roles in the field of home economics, it also established an important link between the federal government and the field of home economics which  “sought to elevate and enlarge women’s roles in the home and in society” (Stage 79). The study of h ome economics aimed to  “prepare student[s] for effective discharge of duties within the home and give scientific preparation for efficient administration of household affairs” (Calvin 1).  Home economics also gained popularity in response to the perceived breakdown in society in the early 1900’s as a result of urbanization, industrialization, and immigration.

The Vocational Education Act of 1963 diminished the funding that the field had been receiving from the Smith-Hughes Act. Funding was only to be provided for home economics education that lead to gainful employment. Relatedly, in the 1960s and 1970s, home economics came under fire with changing societal norms for women at home and in the workplace. Many schools dropped these programs and in some cases the educators of this profession were criticized for their lack of sympathy towards modern feminism. However, home economics legitimately created opportunities for women and greatly impacted American society, creating vocational and economic opportunities for women and educating boys and men about domestic skills.

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Term Paper Topics on Economics

Here is a compilation of term paper topics on ‘Economics’ especially written for commerce and management students.

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Term Paper Topic # 1. Definition of Economics:

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It is necessary to define the subject which we want to study. Definition of a subject facilitates the understanding of its meaning, nature, characteristics and limitations. There­fore, it is necessary to begin the study of economics with its definition.

But it is difficult to provide a universally accepted definition of economics because the economists are divided on the question of definition of economics. J.N. Keynes remarked, “Political economy is said to have been strangled itself with definitions.” Mrs. Barabara Wooten has said, “Where six economists are gathered, there are seven definitions.”

Though the dispute of definition of economics has not yet come to an end, even an analytical study of all the available definitions is necessary to arrive at a conclusion.

Avail­able definitions of economics can be divided into four parts:

I—Wealth Definitions.

II—Welfare Definitions.

III—Scarcity Definitions.

IV—Growth Definitions.

I. Wealth Definitions:

Early classical economists defined economics as the science of wealth. Adam Smith, J.B. Say, F.A. Walker and other contemporary economists of 18th and early 19th centuries are the economists who defined economics as that part of knowledge which is related with wealth.

According to Them:

1. “Political Economy is a study of the nature and causes of the wealth of nations.”—Adam Smith

2. “Economics is the science which treats of wealth.” —J.B. Say

3. “Economics is that body of knowledge which relates to wealth.” —FA. Walker

Salient Features of Wealth Definitions:

Important features of wealth definitions may be summarised as follows:

1. Central point of the subject matter of economics is wealth.

2. Wealth occupies more important place than man.

3. Wealth is the only base of human pleasure.

4. An ordinary man is an economic man who performs economic activities motivated by his ‘self’ only.

5. Individual prosperity adds to national wealth and prosperity.

Criticisms of Wealth Definitions:

Wealth definitions have been sharply criticised on following grounds:

1. Wealth has been more emphasised than man. These definitions have confined economics to ‘gespel of mamon’, ‘science of bread and butter’, ‘a dismal science’.

2. These definitions imagined an ‘economic man.’ According to these economists, wealth is the only motivating force for all human activities. But this is wrong. A man is motivated by social feelings also, apart from wealth.

3. These definitions use the term ‘wealth’ in a narrow sense. According to these definitions, wealth includes only material goods. The fact is that wealth means all the goods and services that have utility, scarcity and transferability.

II. Welfare Definitions:

Alfred Marshall was the first economist to set at rest the criticisms of wealth definitions. He emphasised that man is not for wealth but wealth is for man. The view of Prof. Marshall was supported by Prof. Pigou, Cannon and Clark, etc.

According to Him:

“Economics is a study of mankind is the ordinary business of life. It examines that part of social action which is most closely connected with the attainment and with the use of material requisites of wellbeing.”

On the basis of above definition, it can be concluded that according to Prof. Marshall Economics is the study of material welfare of mankind.

Salient Features of Welfare Definitions:

1. Economics is the Study of Ordinary Business of Life:

Economics is the study of ordinary business of life. Ordinary business of life relates to those activities which are performed by an ordinary man for earning and using his income.

2. Economics is a Social Science:

Economics is a social science. It studies the economic problems of those individuals only who live in a well organised society.

3. Economics Studies only the Economic Activities:

Economics studies only those economic activities that promote material welfare of human being. Thus, non- economic activities are not included in the scope of economics.

4. Dominance of Man:

Welfare definitions have emphasised upon the importance of man. According to Prof. Marshall, man is not for wealth, wealth is for man. According to him, wealth is only a means and not an end. End is human welfare.

5. Economics is Both a Science and an Art:

According to Prof. Marshall, economics is a science as well as an art. Economics is a positive science because it studies the principles of human life in a systematic manner. It is a normative science also because it attempts at attaining material welfare. It is an art also because it develops the methods of attaining human welfare.

Criticisms of Welfare Definitions:

For a long time, welfare definitions of economics were accepted without criticisms and it was being felt that the problem of defining economics has come to an end. But this situation could not continue forever. In 1932, Prof. Lionel Robbins broke new grounds in defining economics in his book ‘The Nature and Significance of Economic Science’.

Some of the important criticisms of welfare definitions are as follows:

1. The Classification of Human Activities into Economic and Non-Economic is Impracticable:

Welfare definitions classify human activities into economic and non- economic. Prof. Robbins was of the view that such distinction of human activities is illusory and impracticable because all human activities have an economic aspect.

2. The Classification of Material and Immaterial Welfare is Impracticable:

According to welfare definitions, economics is the science of material welfare. Prof. Robbins criticised this view on the ground that it is wrong to differentiate between material and immaterial welfare. He was of the view that human welfare is associated with both the material and immaterial means of welfare.

3. Economics is a Human Science, and not only a Social Science:

According to Prof. Marshall, economics is only a social science but the critics are of the view that it is a human science also not only a social science. Many laws of economics apply on those people also who do not live in well-organised society.

4. Illusory Meaning of Ordinary Business of Life:

According to Prof. Robbins, human activities cannot be classified as ordinary and extraordinary. Secondly, the study of economics cannot be confined to ordinary business of the life only because the activities of extra-ordinary business of life such as war, monopoly, imperfect competition etc., are essentially the subject matter of economics.

5. Welfare Definitions make Economics a Normative Science:

Prof. Robbins criticised welfare definitions on the ground that these definitions have made economics a normative science. He believed that it is not proper to relate economics with welfare. He remarked, “Whatever economics is concerned with, it is not concerned with the causes of material welfare as such.” According to him, economics is a positive science.

6. Narrow Scope of Economics:

Prof. Robbins criticised welfare definitions on the ground that these definitions have narrowed the scope of economics by excluding non-economic, immaterial and unsocial activities.

III. Scarcity Definitions:

Prof. Lionel Robbins not only criticised welfare definitions but also proceeded to give a new definition to economics. He gave his definition in his book ‘Nature and Significance of Economic Science’ published in 1932. According to him, “Economics is a science which studies human behaviour as a relationship ends and scarce means which have alternative uses.”

The views of Prof. Robbins were fully supported by many famous economists including Eric Roll, Cairn-cross, Friedman and Stigler etc.

Salient Features of Scarcity Definitions:

1. Human Wants are Unlimited:

Human wants are unlimited and the intensity of all the wants is different. Though a particular want can be satisfied at a particular time but as soon as one wants is satisfied, another crop up. Thus, a man is always surrounded by his wants. He can never satisfy all of his wants. Therefore, the need arises to choose between more and less urgent wants. It gives rise to the economic problems.

2. Means to Satisfy Human Wants are Scarce:

The resources available with every person are limited therefore; he is to choose rationally between limited resources and unlimited wants. A man has to decide which want to satisfy and which to leave. Then he is to decide which want should be satisfied first and which after some time. He has to see how best he can use his limited resources.

3. Scarce Resources have Alternative Uses:

The problem of unlimited wants and scarce resources becomes more serious because of the fact that scarce resources have alternative uses. These resources can be put to several alternative uses. If we want to use the given resources for a particular use, all other alternative uses of these resources will have to be given up. It gives rise to the problem of choice and a man has to choose the best possible uses of his resources.

4. Economics is a Human Science:

According to Prof. Robbins, economics is a human science. It studies the activities of all the persons, whether they are or they are not a part of society.

5. Economics is a Positive Science:

According to Prof. Robbins, economics is a positive science. According to him, economics is the science of resources and is not concerned with ends.

6. Analytical:

Scarcity definitions of economics are analytical. According to these definitions, economics studies the aspects related with choice and human activities. It is not confined to the study of some particular types of activities.

Criticisms of Scarcity Definitions:

Scarcity definitions have been criticised by many economists.

Important criticisms of these definitions are as under:

1. Economics is not only a Positive Science:

According to Prof. Robbins, economics is a positive science. But many economists like, Souter, Parson and Macfic etc., regard economics as a positive and normative science both.

2. Economics cannot be Neutral between Ends:

According to Prof. Robbins, economics is neutral between ends but it is not a real implication. Economics is concerned with human behaviour and therefore, it cannot be neutral between ends.

3. Economics without the Concept of Welfare and Measuring Rod of Money:

The definition of Prof. Robbins has been criticised on the ground that it establishes economics without the concept of welfare and measuring rod of money. The reality is that all the human activities are motivated to get welfare. Similarly, the science of economics is incomplete without measuring rod of money.

4. Economics is not only a Value Theory:

According to Prof. Robbins, economics is the study of allocation of resources. Thus, according to Robbins, economics has been confined only to a theory of value but the scope of economics is much wider than the allocation of resources and price theory. It should include the study of national income and employment also.

5. Economics is not only Micro Analysis:

According to Prof. Robbins, economics is concerned with individual behaviour of satisfying unlimited wants with scarce resources having alternative uses. Thus, economics has been confined to micro analysis only. But it is not true.

6. Robbins has Restricted and Widened the Scope of Economics:

Prof. Robbins has widened the scope of economics by giving his definition in terms of the problem of scarcity and choice. The problem of choice applies on all the human activities but all these cannot be included in the scope of economics.

7. Economics is not only a Science but an Art also:

According to Prof. Robbins, economics is only a science which aims at formulating economic principles only. But this is not a reality. These principles should be implemented properly for the welfare of human beings. Thus, economics is an art also.

8. Robbins has Imagined a Very Rational Man:

According to the definition of Prof. Robbins, a man allocated his scarce resources most efficiently so that he may satisfy most of his wants. Thus, Prof. Robbins imagines that a man always behaves rationally. But the practical experience of life does not prove this imagination.

IV. Growth Definitions:

Modern economists define economics in following manner:

“Economics is the study of how man and society choose, with or without the use of money, to employ scarce productive resources which could have alternative uses, to produce various commodities over time and distribute them for consumption now and in the future among various people and groups of society.”

Thus, modern economists regard economics much more broadly. According to them, economics is concerned with suggesting the ways and means in which the available re­sources can be allocated rationally and in which these resources can be further increased so that maximum satisfaction of wants may be assured.

Comparison between the Definitions of Marshall and Robbins:

Which of the definitions of Prof. Marshall and Prof. Robbins is better is an alive controversy. Both the definitions are based upon different views.

A comparison of these definitions reveals the following facts:

1. The definition of Prof. Robbins is more scientific than that of Prof. Marshall because it provides a scientific base to the study of economics in the form of scarcity and choice.

2. The definition of Prof. Robbins is more logical than that of Prof. Marshall because it highlights a reality of life that human wants are unlimited and the resources to satisfy these wants are limited, that too with alternative uses.

3. According to Prof. Marshall, economics is only a social science but according to Prof. Robbins, economics is a human science.

4. According to Prof. Marshall, economics studies only the economic activities while according to Prof. Robbins, economics studies both the economic and non-economic activities.

5. According to Prof. Marshall, economics aims at increasing human welfare while according to Prof. Robbins economics is not concerned with human welfare.

6. According to Prof. Marshall, economics is both the science and art. According to Prof. Robbins economics is only a positive science and not an art.

7. The definition of Prof. Marshall is classificatory while the definition of Prof. Robbins is analytical.

Thus, it may be concluded that no definition of these two can be regarded as better. Theoretically, the views of Prof. Robbins are more justified but practically the views of Prof. Marshall are more practical.

Term Paper Topic # 2. Meaning of Micro Economics :

The subject-matter of economics has been divided into two parts Micro Economics and Macro Economics. These terms were first coined and used by Ragnar Frisch and have now been adopted by the economists all the world over. The term Micro Economics is derived from the Greek word mikros, meaning “small” and the term Macro Economics is derived from the Greek word makros, meaning “large.”

Thus Micro Economics deals with the analy­sis of small individual units of the economy such as individual consumers, individual firms and small aggregates or groups of individual units such as various industries and markets. On the other hand, Macro Economics concerns itself with the analysis of the economy as a whole and its large aggregates such as, total national output and income, total employment, total consumption, aggregate investment.

Thus, according to K.E. Boulding, “Micro Economics is the study of particular firms, particular households, individual prices, wages, incomes, individual industries, particular commodities.”

About Macro Economics he remarks, “Macro Economics deals not with individual quantities as such but with aggregates of these quantities not with individual incomes but with the national income; not with individual prices but with the price level; not with individual outputs but with the national output.”

From this some idea about the distinction between Micro and Macro Economics can be obtained but a full analytical distinction between the two is made clear.

Term Paper Topic # 3. Importance and Uses of Micro Economics :

Micro Economics occupies a vital place in economics and it has both theoretical and practical importance. It is highly helpful in the formulation of economic policies that will promote the welfare of the masses. Till recently, especially before Keynesian revolution, the body of economics consisted mainly of Micro Economics.

Despite the popularity of Macro Economics these days, Micro Economics retains its importance, theoretical as well as practical. It is Micro Economics that tells us how a free-market economy with its millions of consumers and producers works to decide about the allocation of productive resources among thousands of goods and services.

As Professor Watson says, “Micro Economic theory explains the composition or allocation of total production, why more of some things are produced than of others.” He further remarks that Micro Economic theory has many uses. The greatest of these is depth in understanding of how a free private enterprise economy operates.

Further, it tells us how the goods and services produced are distributed among the various people for consumption through price or market mechanism. It shows how the relative prices of various products and factors are formed, that is, why the price of cloth is what it is and why the wages of an engineer are what they are and so on.

Moreover, as described above , Micro Economic theory explains the conditions of efficiency in consumption and production and highlights the factors which are responsible for the departure from the efficiency or economic optimum. On the basis of this, Micro Economic theory suggests suitable policies to promote economic efficiency and welfare of the people.

Thus, not only does Micro Economic theory describe the actual operation of the economy, it has also a normative role in that it suggests policies to eradicate “inefficiency” from the economic system so as to maximize the satisfaction or welfare of the people. The usefulness and importance of Micro Economics has been nicely stated by Professor Lerner.

He writes, “Micro Economic theory facilitates the understanding of what would be a hopelessly complicated confusion of billions of facts by constructing simplified models of behaviour which are sufficiently similar to the actual phenomena to be of help in understanding them.”

These models at the same time enable the economists to explain the degree to which the actual phenomena depart from certain ideal constructions that would most completely achieve individual and social objectives. They thus help not only to describe the actual economic situation but to suggest policies that would most successfully and most efficiently bring about desired results and to predict the outcomes of such policies and other events. Economics thus has descriptive, normative and predictive aspects.

Micro Economic analysis is also usefully applied to the various applied branches of economics such as Public Finance, and International Economics. It is the Micro Economic analysis which is used to explain the factors which determine the distribution of the inci­dence or burden of a commodity tax between producers or sellers on the one hand and the consumers on the other.

Further, Micro Economic analysis is applied to show the damage done to the social welfare or economic efficiency by the imposition of a tax. If it is assumed that resources are optimally allocated or maximum social welfare prevails before the impo­sition of a tax, then it can be demonstrated by Micro Economic analysis that what amount of the damage will be caused to the social welfare by levying direct or indirect taxes.

The imposition of a tax on a commodity (i.e., indirect tax) will lead to the loss of social welfare by causing deviation from the optimum allocation of resources, while the imposition of a direct tax (for example, income tax) will not disturb the optimum resource allocation and therefore will not result in loss of social welfare.

Further, microeconomic analysis is applied to show the gain from international trade and to explain the factors which determine the distribution of this gain among the participant countries. Besides, Micro Economics finds application in the various other problems of international economics.

Whether devaluation will succeed in correcting the disequilibrium in the balance of payments depends upon the elasticities of demand and supply of exports and imports. Furthermore, the determination of the foreign exchange rate of a currency, if it is free to vary, depends upon the demand and supply of that currency.

We thus see that Micro Economic analysis is very useful and important branch of modern economic theory.

Term Paper Topic # 4. Meaning of Macro Economics :

The word Macro is derived from the Greek word ‘makros’ meaning ‘large’ and therefore macroeconomics is concerned with the economic activity in the large. Macro Economics analyses the behaviour of the whole economic system in totality or entirety.

In other words, Macro Economics studies the behaviour of the large aggregates such as total employment, the national product or income, the general price level in the economy. Therefore, Macro Economics is also known as aggregative economics. Macro Economics analyses and establishes the functional relationship between these large aggregates.

Thus Professor Boulding says, “Macro Economics deals not with individual quantities as such but with the aggregates of these quantities; not with individual incomes but with the national income; not with indi­vidual prices but with the price level; not with individual outputs but with the national output.”

In his other famous work “Economic Analysis”, he similarly remarks, “Macro Eco­nomics, then, is that part of the subject which deals with great aggregates and averages of the system rather than with particular items in it and attempts to define these aggregates in a useful manner and to examine their relationships.”

Professor Gardner Ackley makes the distinction between the-two types more clear and specific when he says, “Macro Economics concerns itself with such variables as the aggregate volume of the output of an economy, with the extent to which its resources are employed, with the size of the national income, with the “general price level.” Micro Economics, on the other hand, deals with the division of total output among industries, products and firms and the allocation of resources among competing uses. It considers problems of income distribution. Its interest is in relative prices of particular goods and services.”

Macro Economics should be carefully distinguished from Micro Economics. It should be noted that Micro Economics also does deal with some “aggregates” but not of the type with which Macro Economics is concerned. Micro Economics examines the behaviour of an industry in regard to the determination of its product-price, output and employment, and an industry is an aggregate of the various firms producing the same or similar product.

Likewise, Micro Economic theory seeks to explain the determination of price of a product through the interaction of the market demand and market supply for a product. Market demand for a product is the aggregate of the individual demands of all consumers wishing to buy the product and the market supply of a product is the aggregate of the productions of many firms producing that product. Similarly, demand for and supply of labour in an industry of a city through which Micro Economics explains wage determination are aggregative concepts.

But the aggregates with which macroeconomics is concerned are of somewhat different variety. Macroeconomics concerns itself with these aggregates which relate to the whole economy. Macro Economics also discusses the sub-aggregates of the large aggregates relating to the whole economy, but these sub-aggregates, unlike the aggregates of Micro Economics which examines aggregates relating to a particular product, a particular industry or a particular market, cut across various products and industries. For example, the total production of consumer goods (i.e., total consumption) and the total production of capital goods (i.e., total investment) are two important sub-aggregates dealt with in Macro Economics but these aggregates are not confined to a single product or a single industry but instead they refer to all industries producing consumer goods and all industries producing capital goods.

Moreover, the sub-aggregates, add up to an aggregate for the whole economy. For instance, total consumption and total investment, two important sub-aggregates in Macro Economics, together constitute the total national product. Likewise, the total wage income (i.e., total share of labour) and total profits (defined as total property income ) add up to the national income.

Professor Ackley thus says, “Macro Economics also uses aggregates smaller than for the whole economy but only in a context which makes them sub-divisions of an economy-wide total. Micro Economics also uses aggregates, but not in a context which relates them to an economy-wide total.”

Term Paper Topic # 5. Why a Separate Study of Macro Economics: Macro Economic Paradoxes :

Now an important question which arises is why a separate study of the economic system as a whole or its large aggregates is necessary. Can’t we generalise about the behaviour of the economic system as a whole or about the behaviour of large aggregates such as aggre­gate consumption, aggregate saving, and aggregate investment from the economic laws govern­ing the behaviour patterns of the individual units found by Micro Economics.

In other words, can’t we obtain the laws governing Macro Economic variables such as total national product, total employment and total income, general price level, etc. by simply adding up, multiplying or averaging the results obtained from the behaviour of the individual firms and industries? The answer to this question is the behaviour of the economic system as a whole or the Macro Economic aggregates is not merely a matter of addition or multiplication or averaging of what happens in the various individual parts of the whole.

As a matter of fact, in the economic system what is true of parts is not necessarily true of the whole. Therefore, the application of micro-approach to generalise about the behaviour of the economic system as a whole or Macro Economic aggregates is incorrect and may lead to misleading conclusions.

Therefore, a separate macro-analysis is needed to study the behaviour of the economic system as a whole in respect of various Macro Economic aggregates. When laws or generalisations are true of constituent individual parts but untrue and invalid in case of the whole economy, paradoxes seem to exist.

Various examples of macro-paradoxes (that is, what is true of parts is not true of the whole) can be given from the economic field. We shall give two such examples of saving and wages, on the basis of which Keynes laid stress on evolving and applying macroeconomic analysis as separate and distinct approach from Micro Economic analysis. Take saving first. Saving is always good for an individual, since they save for some purpose such as for old age, for education of their children, for purchasing durable things like houses and cars etc. in the future, for accumulation of money to start or expand business, for lending to others including banks to earn interest. But saving is not always good for the society as a whole.

If an economy is in the grip of depression and unemployment caused by the deficiency of aggre­gate effective demand, then the increase in savings by individuals (which are beneficial for them individually) will lead to the further fall in aggregate demand of the society and as a result the depression and unemployment will further increase. Thus saving which is always a virtue for individuals becomes, at times of depression and unemployment, a vice for the society. This has been called a paradox of thrift.

Another common example to prove that what is true for the individual may not be true for the society as a whole is the wage-employment relationship. Classical and neoclassical economists, especially A.C. Pigou, contended that the cut in money wages at times of depression and unemployment would lead to the increase in employment and thereby eliminate unemployment and depression.

Now, it is true that a cut in money wages in an individual industry leads to more employment in that industry. It is quite common place conclusion of Micro Economic theory that, given the demand curve for labour, at a lower wage more men will be employed. But for the society or economy as a whole this is highly misleading. If the wages are cut all-round in the economy, as was suggested by Pigou and others on the basis of wage-employment relationship in an industry, the aggregate demand for goods and services in the society will decline, since wages are incomes of the workers which constitute majority in the society.

The decline in aggregate demand will mean the decrease in demand for goods of many industries. Because the demand for labour is a derived demand, i.e. derived from the demand for goods, the fall in aggregate demand for goods will result in the decline in demand for labour which will create more unemployment rather than reduce it.

We thus see that the laws or generalisations which hold good for the behaviour of an individual consumer, firm or industry may be quite invalid and misleading when applied to the behaviour of the economic system as a whole. There is thus a fallacy of composition. This is so because what is true of individual components is not true of their collective whole. As mentioned above, these are called Macro Economic paradoxes and it is because of these paradoxes that a separate study of the economic system as a whole is essential.

We therefore conclude that a separate and distinct macro-economic analysis is essential if we want to understand the true working of the economic system as a whole. From this it should not be understood that microeconomic theory is worthless and should be aban­doned.

As a matter of fact, microeconomics and macro-economics are complementary to each other rather than being competitive. The two types of theories deal with different subjects; one deals mainly with the explanation of relative prices of goods and factors and the other mainly with the short-run determination of income and employment of the society and its long-run growth. The study of both micro and macroeconomics is therefore necessary.

Term Paper Topic # 6. Interdependence between Micro and Macro Economics :

Actually Micro and Macro Economics are interdependent. The theories regarding the behaviour of some Macro Economic aggregates (but not all) are derived from theories of individual behaviour. For instance, the theory of investment, which is a part and parcel of the Macro Economic theory, is derived from the behaviour of individual entrepreneur.

According to this, an individual entrepreneur in his investment activity is governed by the expected rate of profit on the one hand and rate of interest on the other. And so is the aggregate investment function. Similarly, the theory of aggregate consumption function is based upon the behaviour patterns of individual consumers. It should be noted that we are able to draw aggregate investment function and aggregate consumption function because in this respect the behaviour of the aggregate is in no way different from the behaviour patterns of individual components.

Moreover, ‘ we can derive the behaviour of these aggregates only if either the composition of aggregates is constant or the composition changes in some regular way as the size of aggregates changes. From this it should not be understood that behaviour of all Macro Economic relationships is in conformity with behaviour patterns of individuals composing them. As we saw above, saving investment relationship, wage-employment relationship for the economic system as a whole are quite different from the corresponding relationships in case of individual parts.

Micro Economic theory contributes to Macro Economic theory in another way also. The theory of relative prices of products and factors is essential for explanation of the determination of general price level.

Even Keynes used Micro Economic theory to explain the rise in prices as a result of the increase in the money supply of the country. According to Keynes, when as a result of the increase in money supply and consequently the aggregate demand, more output is produced, the cost of production rises. With the rise in the cost of production, price rises.

According to Keynes, cost of production rises because of:

(1) The law of diminishing returns operates, and

(2) Ages and prices of raw materials may rise as the economy approaches full employment.

Now, the influences of cost of production, diminishing returns, etc., on the determination of prices are the parts of microeconomics.

The Dependence of Micro Economic on Macro Economics:

Not only does macroeconomics depend upon to some extent on Micro Economics, Micro Economics also depends upon to some extent on Macro Economics. The determination of the rate of profit and the rate of interest are well-known Micro Economic topics, but they greatly depend upon the Macro Economic aggregates.

In Micro Economic theory, the profits are regarded as reward for uncertainty bearing but Micro Economic theory fails to show the economic forces which determine the magnitude of profits earned by the entrepreneur and why there are fluctuations in them. The magnitude of profits depends upon the level of aggregate demand, national income, and the general price level in the economy.

We know that at times of depression when the levels of aggregate demand, national income and price level are low, the entrepreneurs in the various fields of the economy suffer losses. On the other hand, when aggregate demands, incomes of the people, the general price level go up and conditions of boom prevail, the entrepreneurs earn huge profits.

Now, take the case of the rate of interest. Strictly speaking the theory of the rate of interest has now become a subject of Macro Economic theory. Partial equilibrium theory of interest which belongs to Micro Economic theory would not reveal all the forces which take part in the determination of the rate of interest.

Keynes showed that the rate of interest is determined by the liquidity preference function and the stock (or supply) of money in the economy. The liquidity preference function and the stock of money in the economy are Macro Economic concepts. No doubt the Keynesian theory has also been shown to be inde­terminate, but in the modern theory of interest Keynesian aggregative concepts of liquidity preference and stock of money play an important role in the determination of the rate of interest.

Moreover, in the modern interest theory (that is, LM and IS curves model) along with liquidity preference and the supply of money, the other two forces which are used to explain the determination of interest are saving and investment functions which are also conceived in aggregative or macro terms.

It is thus clear from above that the determination of the profits and rate of interest cannot be explained without the tools and concepts of Macro Economics. It follows that though Micro Economics and Macro Economics deal with different subjects, there is great interdependence between them.

In the explanation of many economic phenomena, both Micro and Macro Economic tools and concepts have to be applied. About interdependence between Micro Economics and Macro Economics, Professor Ackley’s remarks are worth quoting.

He says, “The relationship between Macro Economics and theory of individual behaviour is a two-way street. On the one hand, microeconomic theory should provide the building blocks for our aggregate theories. But Macro Economics may also contribute to Micro Economic understanding. If we discover, for example, empirically stable Macro Economic generalisations which appear inconsistent with Micro Economic theories, or which relate to aspects of behaviour which Micro Economics has neglected, Macro Economics may permit us to improve our understanding of individual behaviour.”

Term Paper Topic # 7. The Concept of Demand:

We study the theory of demand at two different levels — at the level of an individual consumer and at the market level. The market demand for a commodity is more important for determining the price of a commodity rather than individual demand.

The amount of a commodity that consumers wish to purchase is called the quantity demanded. The quantity demanded of a commodity is a desired flow. Various factors effect the quantity of a commodity demanded by a consumer. We study three types of demand in microeconomics: autonomous demand, joint demand and derived demand.

Most commodi­ties are demanded for their own sake to satisfy a need or a desire. This is known as autonomous demand. Some commodities are jointly demanded such as motor car and petrol. One has no value without the other.

However, factors of production are not demanded for their own sake. The demand for a factor of production or input (such as land) is derived from the demand for a commodity (such as wheat). Thus, the demand for a factor is a derived (or, indirect) demand.

The Demand Function :

The demand function is a mathematical expression of the relationship between the quantity of a commodity demanded and its various determinants, such as the price of the commodity, the income of the buyer, the prices of relative goods (substitutes and comple­ments), and the taste and preference of the buyer.

The market demand for a commodity also depends on the pattern of income distribution and the age composition of people.

The consumer’s demand functions show the optimal amounts of each of the goods that he desires to buy as a function of prices and income faced by the consumer.

The demand functions are expressed as:

x 1 = f 1 (p 1 , p 2 , m) and

x 2 = f 2 (p 1 , p 2 , m).

The left hand side of each equation shows the quantity of a commodity demanded. The right hand side of each equation is the function that relates the prices of two goods (p 1 and p 2 ) to income (m) to that quantity (x 1 or x 2 ). Since taste and preference cannot be measured, we have not included them in the above to demand functions.

If all variables shown on the right hand side of the above to equations change at the same time, it is not possible to know which factor exerts how much influence on x 1 or x 2 . This is why we vary one variable at a time. This is known as the ceteris paribus assumption.

Thus if we hold p 2 and m constant, then the quantity of x 1 demanded becomes a function of its own price and we can express the first demand function as: 

x 1 = f 1 (p 1 ).

Similarly we can express the second demand function as:

x 2 = f 2 (p 2 )

If we hold p 1 and m constant. This is indeed the ceteris paribus assumption, which means other things being constant. Thus x 1 is a function of only p 1 p 2 and m remaining constant.

Term Paper Topic # 8. Supply of Goods :

The price of a commodity is determined both by demand and supply. Demand is half the story. The willingness and ability of suppliers to provide the good are equally important factors that must be weighed by decision makers in all societies. So we will now turn to the other side of the market, which is supply.

As in the case of demand, several factors are important to suppliers. One important factor is the own price of the good. Other things being equal, the quantity supplied will vary directly with the price of the good. This relationship is called the law of supply.

The relationship between price and quantity supplied is direct or positive. We may mention at the outset that by supply we mean the quantity of a commodity that suppliers will wish to offer for sale at a particular price.

The Supply Function :

The quantity supplied of a commodity is a function of various factors including its own price. The supply function shows the relationship between the quantity supplied of a commodity and its various determinants.

It may be expressed as:

Q s x = f (P x , P y , O, W, T, t, etc.), where

Q s x = quantity supplied of the commodity,

P x = price of the commodity,

P y = prices of other commodities which compete for the same resource,

O = objective (motivation) of the producers,

W = weather (acts of God),

T = technology and

T = time period.

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Writing a College Paper – The List of Economics Topics to Consider

27 October, 2021

12 minutes read

Author:  Kate Smith

If you are studying Economics, at some point in your student life you will get an essay or a research paper to complete. Most likely, you will have to write many of such papers in different subjects during four years of undergraduate studies and then during your Master’s. Besides this, you will have to write a degree paper to get your qualification. If such a perspective already makes you nervous, don’t worry: we will help you to get through these tasks. In this guide, we will make the definition of an Economics research paper clear to you, and also explain how to choose the best topic for writing. We will also share the latest Economics topics so that you can use them to complete your assignments.

What Is an Economics Research Paper?

First of all, let’s find out what an Economics research paper is. An Economics research paper is an academic work written by students, graduates, or researchers of either of the Economics subfields. It aims to contribute to the current state of economics and help resolve potential economic issues.

There are a few types of Economics research papers you need to know. Below, you can find them and understand what kind of assignment you were given and how to approach it:

• Theoretical paper. The first type of Economics research paper is a theoretical one. While writing it, one needs to construct mathematical models to understand economic behavior. Graphical models are also possible to use in theoretical papers. But you don’t need to worry about writing them: due to their complexity, they are rarely required from undergraduate students;
• A literature survey. This is a paper that aims to review many sources on certain Economics topics that are interesting to an essay writer , compare them, and find links between them. Writing an Economics literature survey requires selecting the relevant sources on your own and reading a lot to produce a thoughtful paper.
• An empirical paper. When writing an empirical paper, a researcher needs to provide statistical data to prove or disprove their hypothesis. Also, such a paper often makes up a literature survey as its first part. Empirical papers are a popular type of assignment in colleges and universities;
• An issue paper. This paper deals with a certain position stated on a policy question. To resolve the issue, a student needs to use economic analysis and provide data to prove their point of view. You can base your analysis on the information received in classes, in additional reading, etc. Feel free to use graphs and tables in your paper as well. The more scholarly sources you find, the better;
• A case note. The last type of economic paper is a case note. This assignment deals with a certain legal case that needs to be assessed from an economic and legal point of view. In this paper, a student needs to describe the peculiarities of the case, the incident that led to a certain legal action, the procedure of investigation, and the court decision on the matter. The economic analysis is used to evaluate the relevant aspects of a court decision from an economics perspective.

A Quick Guide in Choosing the Right Topic

Now that you know the types of economic research papers, you need to understand how to choose the right economics papers topics. This is one of the most important stages of writing preparation, so pay close attention to the tips below:

• Find out what interests you the most in Economics subjects. For some reason, you have chosen Economics among dozens of other majors, so try to remember why you did it. Then, remember those economic problems you were about to resolve once you become an economist. These issues can be used as your potential Economics research paper topics;
• Create a list of the Economic topics to write about. Write down all the issues you’d like to explore while pursuing your degree in Economics. At the moment, don’t try to develop them in detail. You will do it a bit later;
• Pick a few topics that fall into the scope of a particular subject. Once you have the list of potentially interesting Economic topics, think about their relevance for the particular course you are studying. Do any of them sound reasonable for your current assignment? Mark them on your list if they do;
• Read background information on each of the topics. This step is required to understand how well these topics were researched before and how many sources you can find to base your reasoning on. Don’t omit this stage since it’s essential for writing a good paper on engaging and interesting topics in Economics;
• Discuss the chosen Economic research topics with your instructor. Now it’s time to ask your instructor to take a look at the topics of your interest and evaluate which ones fit your academic requirements best. Then, narrow down your topic to a certain issue to make your paper concrete. At this point, consider asking any questions you have regarding your research, scholarly sources, and formatting guidelines.
• Approve your topic and start working on it. Now, pick any of the economic research paper topics from our lists for instructor’s approval and start gathering references for them.

20 Undergraduates Economics Topics for Research

• The history of economic thought: from Ancient Times to the Medieval period.
• The breakthroughs in economic thought in the 20th century.
• The history of American economic thought.
• How can governments benefit from the law of self-interest?
• The law of competition: is it a major driver of the state economy?
• Role of agriculture in building a stable economy.
• The cultural heritage from an economic perspective: how can states benefit from it?
• Factors of unemployment in South America.
• Overcoming poverty in Venezuela: what can its government do in 2023?
• How does literacy influence a country’s economic success?
• Corporate social responsibility and economics: how do they correlate?
• The role of economic forecasting in building a steadfast economy?
• The structure of the USA market.
• The analysis of the workforce economics in Canada.
• Predicting the GDP of Mexico in the next five years.
• How does a stable economy help to reduce hunger?
• The importance of health insurance for wageworkers.
• The effect of chronic diseases on the middle-aged workforce in the USA.
• Is free health care beneficial for governments?
• The international trade in the 21st century: challenges and priorities.

20 Economic Debate Topics

• Pros and cons of taxes: is it still reasonable to pay them in the 21st century?
• The process of production: demand vs. supply.
• Should the government take control over the state economy?
• How can the government influence the labor market within the state?
• Capitalism vs socialism: a comparative analysis.
• Being an employer or an employee: the challenges and advantages.
• Remote work vs office work from the state economics perspective: pros and cons.
• The pros and cons of privatization of property.
• Why do governments implement neoliberal economic reforms in developing countries?
• Should Americans buy only made in USA products or imported ones?
• Should governments implement taxes for the rich?
• Should the USA compete with China?
• Credit cards should not be issued to those with low income.
• How are democracy and capitalism interconnected?
• How does war impact economic growth?
• Governments should cancel income tax: pros and cons.
• A perfect market cannot be reached anywhere in the world.
• Advantages of equal taxes for all American citizens.
• Greece’s exit from the EU did not impact other EU members.
• Homeschooling is more beneficial economically than studying in the classroom.

20 Interesting Behavioral Economics Research Topics

• Macy’s case study: the behavioral economics of discounting.
• The decoy effect and pricing: how corporations make people buy more.
• The benefits for American society from behavioral economics theory.
• The buying motivation of consumers from a behavioral economics point of view.
• The concept of the economy of trust.
• Uber case study as an example of the economy of trust.
• How consumption makes people happy and why.
• The phenomenon of shopaholism and its impact on modern world economics.
• How behavioral economists assess marketing: a detailed review.
• How to apply the theory of behavioral economics to real-life problem-solving?
• Behavioral economics as a discipline: the methods and peculiarities of teaching. 
• Applying behavioral economics to environment protection: approaches and challenges.
• How can entrepreneurs benefit from behavioral economics theory in the UK?
• Why is conscious consumption good for the environment?
• Can behavioral economics principles be used to manage substance abuse in the USA?
• The impact of inflation on the consumer’s buying motivation.
• Cooperative behavior on criminals and police: a comparative analysis.
• Strategic reasoning.
• Studying morality and social preferences: how do they correlate?
• The concept of prospect theory and reference dependence.

20 Microeconomics Topics

• The methodology of Microeconomics.
• How marital status impacts the workforce composition in France.
• Analyzing consumer behavior trends: how the consumption attitude changed over the last 20 years.
• The market and competition concepts: how do they correlate?
• The sources and outcomes of inflation.
• How does competition impact pricing?
• Finding the demand and supply balance through a microeconomics perspective.
• Product expenses and profit explanation: how to spend less and get more out of goods production?
• The concept of perfect competition in microeconomics (with examples).
• Peculiarities of stock market work.
• Finding links between income changes and consumer choice.
• The correlation between salary level and economic convergence in Germany.
• The impact of demonetization on small and medium businesses.
• Salary inequalities in Virginia, USA: why do they exist and what forces are behind them?
• The concept of economics of uncertainty.
• What is the imperfect competition?
• Explaining the theory of production and its application to real-life cases.
• Studying microeconomics: the methodology of research.
• The economic nature of a firm: what purpose do we try to achieve by starting a small business?
• What is a natural monopoly and how is it regulated in the USA and Latin America?

20 Current Economic Topics

• Starting a business in pandemic times: challenges and outcomes.
• How hiring remote workers can save the state economy during COVID times?
• How to measure the state’s economic growth during a pandemic?
• How does gender influence buying capacity?
• The ways to lower consumption in the 21st century.
• Social media marketing in the USA: the potentials and challenges for new businesses.
• The role of digital marketing in consumer demand in 2023.
• The consumer buying capacity during COVID: did people start buying fewer goods?
• The future of the world economy after the pandemic ends.
• The ways to recover the state economies from the COVID recession.
• Do governments need to rethink their current economic policies in Africa?
• How to maintain the economic growth in Third World countries?
• Does overtime work contribute to the production: the case study of Nairobi leather factory.
• Green economics: the benefits for developing countries.
• The problem of unemployment in the EU and the methods of resolving it.
• The new ways to overcome poverty in North Africa.
• How to provide equal access to education in rural Asia?
• The effects of gambling on the modern US economy.
• Immigration trends and changes during COVID restrictions.
• The effects of fiscal policy on the modern EU economy.

Now that you have all the knowledge to write a proper Economics research paper, you can pick the best topic from dozens of themes in various economics subfields. The topics presented and analyzed above fit undergraduate as well as graduate students. So don’t hesitate to make your choice now, approve it with your professor, and start outlining your draft. Doing your best at every stage of writing will guarantee a high grade for your paper.

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