Just because economics is known as the "dismal science" does not mean an economics essay has to be dull. Economists, including Paul Krugman, a New York Times columnist who won a 2008 Nobel Prize for Economics, have written engagingly and well about the subject. Since economics is both art and science, it offers room for more than one point of view and is fertile ground for essays. Indeed, former President Harry S. Truman once asked for a one-handed economist, since economists were always telling him, "On the other [hand] ... "
Determine your thesis. A thesis statement will contain the main idea for your essay. It should be short, simple and direct. The success of your essay will be determined by the clarity and supporting arguments for your thesis statement.
Research your paper, using classic economics work and current events. A number of publications have people who write well and authoritatively about economics, including The New York Times, The Wall Street Journal, Bloomberg and The Economist. Find articles and papers that support your argument, as well as opposing points of view. Your middle three paragraphs will be devoted to defending your thesis statement, citing both supporting and opposing points of view.
Use short sentences and clear writing. Avoid jargon. Use illustrations or charts in your paper if they help emphasize a particular point. Be sure to footnote and attribute your sources; plagiarism will result in a failing grade in virtually all academic settings.
Use the final paragraph to restate your thesis, using different language. Summarize the arguments and explain why your thesis is correct. Re-read your essay several times for accuracy, style and clarity. Make a printout of your paper and read it; studies have shown paper copies improve comprehension.