Writing degree-level history essays is not about regurgitation. It is generally agreed that the difference between a passable essay and a first class piece of work is the amount of original thought and input which the student includes. Writing an essay is not supposed to be a form of worship in which various historical text books are venerated. Although you must always back up your arguments with evidence, you should assume, until proven otherwise, that your mind is as good as anybody else's.
To write an effective essay you will need to marry the use of evidence and analysis. It is no good having page after page of fact with no interpretation or comment, or vice versa. Of all the areas of essay writing this is probably the one in which there is most variation in approach. Try to ensure, however, that you make use of both fact and theory in your answer. One approach is to illustrate every theme or idea you express with one or two pieces of detailed evidence. Basically, try to avoid just giving a long list of dates, or simply writing a vague and generalised answer.
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Your conclusion should sum up how your essay has answered the title. It should reinforce your introduction and include a reference to the wording of the title.
When you are writing the answer to an essay question, you are encouraged to use diagrams that are correctly labelled to illustrate understanding of the relevant economic concepts. However, you need to take note that diagrams that are incorrectly explained or incorrectly labelled may do more harm than good. In contrast, diagrams which are correctly explained and correctly labelled illustrate understanding of the relevant economic concepts and substantiate your explanations and therefore will be awarded accordingly.
In the final analysis, the benefits of the growth of the Chinese economy to the Singapore economy are likely to outweigh the costs. Singapore’s exports consist of more high value-added goods due to the large amount of high-skilled labour and hence comparative advantage in producing these goods, with low value-added goods accounting for a smaller proportion of total exports. Therefore, economic growth in China is likely to lead to a larger increase in exports of high value-added goods than the decrease in exports of low value-added goods in Singapore which will lead to an increase in aggregate demand resulting in an increase in national income. Furthermore, Singapore is a small economy that is highly dependent on external demand with the domestic exports accounting for a large proportion of the national income. Therefore, the increase in exports is likely to lead to a substantial increase in aggregate demand resulting in a substantial increase in national income. In addition, as Singapore imports a large amount of intermediate goods due to lack of factor endowments, the increase in imports of cheaper intermediate goods from China is also likely to be very beneficial to the Singapore economy as the cost of production in the economy is likely to fall substantially.
Example (A Paragraph of the Body)
The growth of the Chinese economy may lead to a deterioration in the balance of payments of Singapore. The balance of payments is a record of all the transactions between the residents of the economy and the rest of the world over a period of time and is made up of the current account and the capital and financial account. The production of low value-added goods such as disk drives requires low-skilled labour. Due to its larger amount of low-skilled labour, China has a comparative advantage over Singapore in producing low value-added goods. When the Chinese economy grows, it will produce a larger amount of low value-added goods which will meet a larger proportion of the world demand and this will decrease the demand for low value-added goods produced in Singapore. Therefore, the growth of the Chinese economy will lead to a fall in Singapore’s exports of low value-added goods. For example, Singapore’s exports of hard disks have decreased partly due the growth of the Chinese economy. Furthermore, due to the same reason, Singapore’s imports of low value-added goods from China will increase. When these happen, the current account and hence the balance of payments of Singapore will deteriorate. When the Chinese economy grows, households will become affluent which will lead to a larger consumer market. Therefore, the growth of the Chinese economy will attract foreign direct investments away from Singapore. For example, the growth of foreign direct investment in Singapore has generally decreased over the last two decades partly due the growth of the Chinese economy. Furthermore, due to the same reason, firms in Singapore will increase investments in China. When these happen, the capital and financial account and hence the balance of payments of Singapore will deteriorate.
The body should contain the thrust of the answer, usually comprising a few paragraphs, with each paragraph containing only one main idea. The main idea in each paragraph should be succinctly conveyed in the topic sentence, with the rest of the paragraph elaborating the topic sentence by giving details, examples, facts and statistics. The topic sentence is usually, but not always, the first sentence in the paragraph. Sometimes, the topic sentence can be the only sentence in the paragraph if it is self-explanatory.
Economic growth is an increase in real national income or real national output. The effects of the growth of the Chinese economy on the Singapore economy can be discussed in terms of the effects on the balance of payments, the national income, the unemployment, the general price level and the income equity.