Economics Essay

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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 answer should comprise an introduction, body and conclusion.

It should be about four pages in length, excluding the diagrams which you are required to draw to substantiate your points.

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.

It should also give an overview of the approach in a clear and concise manner.

For structured questions, however, an overview of the approach may not be necessary.

Consider the following question: Discuss whether the growth of the Chinese economy would be detrimental to the Singapore economy.

The introduction should define the economic terms in the question.

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