Repaying Student Debt and Staying Alive

student loanWhen it comes to repaying student debt, you’ll, most likely, find tons of various informative material available on the web. But the best way to somehow limit what you already owe is to start practicing the so-called smart borrowing. Make sure to get a picture of how much you need to borrow as well as how much you are actually borrowing. Consider some useful recommendations that will help you to estimate all costs properly and track the student loan debt.

  • Great Lake’s budget calculator is a great tool to manage any sort of budget while staying at school, as well as after graduation. Once you properly plan your budget, you will be able to keep up with the income and expenses. This will help you to ensure you are not borrowing more than you need or more than you can actually afford.
  • NSLDS or the National Student Loan Data System provides the user with a complete picture of all federal student dept items of yours. In case you have private loans, make sure to refer to the credit report. The latter includes information about your servicer or lender.

If you’re aware of what you owe and what kind of loans are waiting for you in the future – you will be borrowing only what you’re in need of.

Understanding capitalization and interest and how it all works won’t make the sum you borrow any bigger. When the question is about interest, the term is related to the cost of borrowing money. It starts building up the very moment you receive your loan money. Remember, the more you decide to borrow, the more interest you will be required to pay. At the same time, the lower your interest rate is, the less interest you will have to pay.

As for the capitalization, it appears when the unpaid interest is being added to the loan principal. Before the date when your first payment is due, unpaid interest is added to the amount you have capitalized or borrowed. When dealing with the federal student loan, expect the capitalization to occur only when it is required by the regulations of the Education Department.
The other way to easily hold down your costs is through making student loan payments while studying at a high school. If you have such an opportunity, ensure to make regular payments. In the nearest future, these payments will reduce both your principal and the amount of interest that will eventually capitalize.

Enjoy all the benefits of AutoPay. The latter is used to automatically withdraw any of the student loan payments from student’s savings or checking account on a particular date. This will help you to save your funds. Feel free to sign up for the AutoPay when being a high school student in order to save bucks in the long run. Besides, using the AutoPay tool means you will never miss the date of payment.

When you are repaying your student debt, everything can help. In case you have such an opportunity, make sure to pay more than you’re supposed to when you are in repayment. Remember, the more funds you’re able to give, the faster you will pay off the student loan.

Read More

Writing an Economic History Paper: How to Approach

writingWhen approaching the economic history, one should apply high-powered statistical methods in order to analyze quantitative economic data. The experts of the field recommend treating all economic elements and processes as both complex and unique historical events. Further our economic history essay guide will give you better idea of the process.

Meet the North’s Approach

Douglas C. North, one of the pioneers of the new economic history, offers his own method to approach economic history. He points out the relationship economic history posts between the history and the theory. For North, the Nobel Prize winner, history is the very source of the so-called ‘empirical evidence’ that is a perfect statistical data. The latter is the issue against which the economic history is being usually tested. In other words, once you make a claim to validity of a certain theorem, keep in mind that it will always remain defensible and tentative.

North also claims it’s impossible to both analyze and explain the issues related to the economic history without giving initial hypotheses, as well as testing them on the basis of the available evidence. As for the initial hypotheses, they usually come from the economic theory body that has developed in the course of the past two hundred years and is being endlessly tested and refined through empirical inquiry. The empirical evidence and precise measurement used to test the theory are provided by the statistics.

Revise Regularly

At the same time, it also means that one should continually revise economic history since the theory that is applied to identify the relations between historical events can be simply falsified at some point by a sudden evidence appearing in the ongoing historical process. To cut it, what the modern economic historians take as the close ‘relationship between the theory and measurement’ actually is the fierce circle that simply traps up every attempt to somehow invoke positivist precepts in the history interpretation. For in case the theory is being used in order to interpret any of the events that took place in the past can be canceled any time by the future events, then it’s not really clear whether the theory is the explained or the explainable when it comes to the historical research.

Evaluate the Existing Viewpoints

Evaluation is known as an integral part of the economic history paper writing. There’s a well-known joke that once you put ten economists in one room, you will 100% receive eleven different answers. You may wonder why. The point is that the nature of economics is that usually there’s no answer that can be considered as ‘correct.’ It’s highly important that we always take into consideration the other viewpoints, as well as debate over different most probable outcomes. That’s what is called the evaluation.

When the economic history project is almost done, make sure to ask yourself – how does my paper answer the question? If necessary, think about a one-sentence summarization that will bring a direct answer to your question. There is no need to wait till the last paragraph of the paper is done to realize you have chosen the wrong question to investigate if you did. Hopefully our economic history essay guide will help you prevent this.

Read More

Most Informative Economic Review: The How-to

macbookWhen you’re required to accomplish an economic review for class, make sure to carefully consider the reason why an economic review should be conducted. First of all, its number one goal is to find out what interventions properly work in order to reduce a certain burden.

In order to complete an informative economic review, one should take certain steps. Our economic review guide is going to outline them for you below:

Set Inclusion Criteria
It is important to make use of intervention and population characteristic criteria from the review of a broader nature. Plus, make sure to take into consideration the information source such as the language of publication, its type and high income economies.

Perform a Thorough Literature Search
Make use of the economic key words such as cost-utility, benefit, cost-effectiveness, etc. Surf the databases that are specialized in economics. For instance, you will get some great help from sources like Campbell Cochrane Economic Evaluation and EconLit. Besides, it is recommended to take a look at the repositories of institutions like National Institutes of Health, Centers for Disease Control, National Institute for Health and Clinical Excellence.

Review More Complex Studies
Conducting a detailed research before the actual process of writing, make sure to approach the studies performed by the experts. This will provide you with an opportunity to see differences in opinions of experts within a particular area, as well as to properly weigh them up.

Rate Every Study
Before doing so, ensure to take into account only the studies that have satisfactory or better rates. It is important to base your quality rating on the following performance categories: benefit measurements, design, analysis, cost and effects. Make sure to assign every study with special marks, such as: unsatisfactory, satisfactory, good and very good.

Tabulate Your Results
In order to perform the conversion of the estimates from foreign studies to the United States dollars, make sure to use the PPP or the purchasing power parities. Also, incorporate the inflation effect with help of the CPIs or the Consumer Price Indexes for services and general goods, as well as for medical care. Consider the notion that benefits appear to be more desirable at the moment rather than in the future through the process of discounting.

Provide Summary Conclusions
If possible, make sure to produce summary economic estimates all over the studies. Provide your own conclusions on the economic attractiveness of interventions on the basis of the economic evidence weight.

Include Discussions
Provide the description of differences in methods and materials across the studies that are being investigated. Ensure to detect variables to which the summary results are especially sensitive and that are most likely to transform in case the intervention is being applied in predictable and specialized situations.

This concludes our economic review guide, finally, when dealing with the economic review, the crucial part is to identify gaps in the middle of economic literature, as well as not forgetting to suggest potential options for the future research.

Read More

How to Write Briefly and Accurately on Economics

macbook pro keyboardA lot of students may be asking themselves, “In what way is writing related to economics?” Well, in many different ways actually. You will be surprised, but economists tend to write more than any other analysts. Although these experts seem to be involved deeply in math or solving problem sets, the fact is that any sort of economic research should be written down sooner or later. In addition to requiring a lot of time, working on economics requires the author to write both accurately and briefly.

The Simpler the Better

The majority of college and university students is absolutely sure they have to make the economics papers impressive. But the truth is exactly the opposite. The less math you provide, the better for your project. The simpler the estimation technique applied, the better. Avoid using passive tense; replace it with the active one. That’s how good writers do.

Use Comments Unrelated to Economics Correctly

Any non-economics comments should be inserted into the first paragraph and the conclusive section of the project. For example, if your results include some remarkable political implications, make sure to include them into the opening paragraph or get back to them in the conclusive segment. Unless they’re actually an essential part of the model, make sure to leave these comments out of the papers body. Students tend to include too many details rather than little and that’s wrong.

Cut, Cut, Cut

In order to write accurately on economics, remember that repetition is a taboo. Moreover, it is absolutely boring. Got that? It is boring! Cut it once, cut it twice. Then make sure to cut it again.

Keep Your Sentences As Short As Possible

When writing on economics, mind that your readers are not going to read every single word you produce. What is more, they tend to quickly pass from the subject directly to the verb. It means that you have to structure your economics paper sentences so that they include simple sentences.

Start Paper Sentences with “Old” Info

Accurate writing on economics is the writing that flows. And the most useful recommendation on how to create flow is the following: make use of the technique called “conduplicatio”. In other words, you have to start sentences with already known information. When the question is about the old information, it includes phrases, names, words and related elements that your readers have already been faced with. It is information that links them back to something you’ve already mentioned.

No Need to Generalize

It doesn’t matter if you’re assigned with the economics or French literature essay. In both cases you will have to handle the temptation to broaden the scope of the project. But the reality is that one should only address a narrow economics research question.

Learning to write accurately takes practice and commitment. Make sure to read economics projects of the other authors in order to see how they are arranged and what kind of information they include.

Read More

How to Write Economic Forecasts in Academic Papers

 market insightA vital challenge that students are faced with when working on economics paper is how to forecast since general livelihoods depend on this kind of forecasts. This article provides a general overview of what forecast is in light of an academic paper, as well as simple guidance on how to generate one.

In general, the term “forecast” is applied to any statement regarding the future. In academic projects such statements must be accurate, precise and provided with solid basis. Economic forecasting includes the detailed or approximate prediction of the possible elements in economic activity. Thus, economic forecasts can be done either very broadly or in many great details. One way or another, these items describe possible future behavior of certain parts of economy and help the experts to conduct thorough planning.

There are many different ways for the forecasts to be done. These include statistical analyses performed on the basis of parametric models, calculations, statistical analyses, simple extrapolations, etc. It’s hard to say how frequent the methods described above are applied, but in economics academic papers the following methods of forecasting are widely used:


This technique is fully based on luck. In contrast to the other methods, guessing cannot be called a useful one. The thing is that “interesting” guesses are usually made known, while the “bad” ones are simply forgotten. Moreover, uncertainty that this method is attached with makes it impossible to do any forecasts in advance.

Expert Judgment

This is an integral part of the forecasting in economics papers. But truth is that expert judgment lacks validation in case it is the one and only component of the forecasting approach. Unfortunately, some of the professionals get lucky more often than not, so, it’s hard to predict who will turn to be successful next time.


As long as the tendencies go on, the method can be used by the author. However, it’s rather unlikely, first of all, because of the fact that different extrapolations should be applied in different time points. Furthermore, economic forecasts in academic papers are most useful only when they predict possible changes in tendencies that the extrapolation does not include.


If you conduct a survey of a particular business or consumer bases to get required information for your economic paper, you will most likely get the precise details that will help you to predict some future events. Since it’s not costly to conduct a survey, you will get an excellent opportunity to forecast possible changes in the business and probably work out radical solutions.

How confident can you be about the economic forecasts? It is obvious that our confidence will be based on how strong the supportive facts of the forecasts are. Using well-tested approaches, the author of the project will have an opportunity to view his predictions more effectively. But make sure to remember that the future will always remain uncertain, which means you will find out whether your forecasts are successful only when tomorrow comes.

Read More

How to Use Economic Analysis in Your Economic Essay

economic analysis essayJust like any other essay, the economic essay writing process starts with understanding the question. Make sure you are fully aware of the essential point that stands behind essay question. If necessary, feel free to break the question down into smaller and simpler version.

Then, in the process of pre-research and essay writing, make sure to keep reminding the question in order to come up with the most suitable answer. It’s not a rare thing that a lot of students start the project confidently and always stick to the point, but as they approach the end, they seem to forget what it all is about. Remember, once you lose your essential question, you will most likely get a low mark.

Use Economic Analysis

When the matter concerns economic essay, your tutor will most likely require you to use economic analysis to complete the project. What is it about? First of all, economic analysis is the application of various data to the theory of how individuals provide trade as well as make use of services and products.

In the economic essay, it is recommended to use both quantitative and qualitative tools. For instance, once you are provided with a theoretical material on the basic causes of unemployment, you can take the data in order to reveal its true causes, as well as compare them to original theory. Bear in mind that economic analysis used in the essay can be colored greatly by the preconceived notions of the author, to the point in what some of the data is under- or overemphasized in order to prove and support one’s viewpoint. On the other hand, economic analysis within the economic essay is highly crucial if the author wants to find the very truth regarding what makes economy properly work.

Even if you think that economic essay is considered a highly complicated and serious project, make sure to write it in simple sentences. Don’t combine too many ideas and terms within one sentence. The other thing is to always answer the essay question. A lot of students seem to have efficient knowledge of economics, but when it’s all about the essay writing, they fail to answer the main question. As a result, they get no points for the question. It’s not fair, you may say, but once there is no answer – there is no mark.

When reaching the end of the paragraph, ask yourself – how does the paragraph add to the answer? If required, provide just one-sentence summary that gives a direct answer to the question. There’s no need to wait till the last word of the paper to realize you dealt with the wrong question. Whether you make use of economic analysis to deal with the use of scarce recourses, some monetary terms or any other aspects, ensure to use a variety of information sources to support your statements and make sure your essay reflects the reality.

Read More

Capital Theory Essay

capitalIt is hard to imagine any concept that would be more important for understanding economics than the concept of capital. It is only natural that the economic system comprising free enterprise and private property is often referred to as capitalism.

And it is surprising that such an important concept would be the subject of much controversy. Ever since the emergence of economics as a science in its own right different economists gave their own definitions of capital, included it into their theories, often giving almost diametrically opposite definitions of its role in the workings of economy.

The definition of capital, when reduced to bare minimum, would be ‘produced means of production’, that is, any form of wealth that can be employed to produce still more wealth. However, there is a distinction that is often overlooked by laymen – that of between financial capital and capital goods. Financial capital, e.g., of a business, is a sum of money that its owner will have if he or she sells all its assets and pays off all the liabilities. Capital goods, however, denote physical objects used in running the business, which cannot be expressed in numerical form. The confusion is further increased by the fact that economists often use the terms interchangeably.

Traditionally, economics differentiates between three different ways income is produced. These are rent, wages and interest. Rent is earned by landowner renting out land; wages are earned by workers selling their labor; interest is often defined as marginal product of capital.

However, it wouldn’t be an exaggeration to say that these definitions are somewhat out of date, for they don’t fit very well into the modern economic theories, most importantly, the price theory, according to which the boundaries of these categories are much more vague than it was previously considered.

For example, rent generated by property can easily be reduced to interest generated by investment – for property owner implicitly invests the property’s value by keeping the property instead of selling it, and gets a return on investment in the form of rent.

The very definition of interest as marginal product of capital doesn’t seem too accurate as well, for it mixes up financial capital with physical capital goods. And doing so it omits several important factors. For example, we may calculate the changes in incomes of a firm that rents additional physical goods; but in order to find out the interest rate of this acquisition we have to know the market price of these capital goods. Depending on the price, the interest rate may vary; moreover, it may fluctuate over time, which brings additional difficulties. Thus, the correlation between the productivity of capital and interest rate is not completely identical to that between productivity of labor and wage rate.

All in all, despite its importance for the understanding of economic theory, the concept of capital so far received woefully inadequate amount of attention from scholars. Current economic theories tend to apply simplifications that, while making analysis easier, do not take into account inhomogeneous character of capital.

Read More

How Do I Make My Microeconomics Task Easier?

Taking microeconomics subject is such a very interesting subject to begin with. Honestly, taking up a economics course in college is not a walk in the park. By the time I decided to take up this course I already set my mind to the many challenges it may entail along the way. I browsed the syllabus and discovered an interesting array of subjects and I was excited right away. Truth to tell, I didn’t really expect an easy way to take microeconomics subject. As the year progressed, I started to feel at ease with the life of an economics student. Although most of the microeconomics classes are conducted in small-class formats, I thought it would take a great deal of time to make my microeconomics task a bit more fun and enjoyable.

After a few days, I started to realize that I need to study really seriously. It may not be one of the toughest subjects I ever had but honestly it really changed my perception on the economics subjects. Some of my friends even suggested a ridiculous idea that it’s possible to pay someone to do my microeconomics assignment if I need to. That’s quite absurd. It’s easy for some students to entertain such an egregious idea but they should think twice about it.

I make my my microeconomics lessons easier by browsing the web for free available resources. It’s relatively easy for me to solve my microeconomics problems online because I can compare notes with many other students around the world. In addition, there are thousands of related resources such as thesis works done by previous and present students of business and economics students from prestigious business schools that I don’t need to pay someone to do my microeconomics assignment.

Read More