The 2018 Issues: 20 Topics for Effective Economics Papers

peopleEconomics is a really interesting subject. It is usually described as the study of the allocation of scarce resources. It is the study of production, distribution, and wealth-consumption. Practically, everything that exists has a form of connection with economics.

As an economics student, writing research papers is a very important aspect of your study curriculum. There is a myriad of intriguing categories and areas of economics for students to select a topic for their research paper. Unfortunately, a lot of students find it quite hard to choose a topic for their research paper. The following are some research topic ideas of effective economics papers.

  1. Income, Poverty, and Distribution of Wealth: Are the Available Resources Scarce When Compared with Our Needs?
  2. Failures of Major Industries and Businesses: Causes and Impacts on the Economy
  3. Stimulating the Economy, Which Is More Effective: Increased Government Spending or Tax Cuts
  4. A Quantitative Analysis of Potential Effects of Deflation
  5. A Detailed Insight into the Role of Government in Company Bailouts
  6. Scarcity: How Real Is the Phenomenon? What Does It Indicate: Wealth Redistribution or Trade-Offs?
  7. Government Budgets, Debt, and Deficits: What Are the Impacts on the Economy
  8. Economics and Environmental Pollution: Is Environmental Pollution an Indication of a Failed Market Economy?
  9. Private Property Ownership: Should There Be a Limit to This?
  10. A Detailed Insight into the Causes of Poverty: Is It Inevitable?
  11. Minimum Wage: How Is This Concept Decided? How Best Should It Be Decided?
  12. A Detailed Insight into the Economics of Disease and Death
  13. A Quantitative Analysis of the Economy of the Pharmaceutical Industry
  14. World Economy on the Decrease: Why Is the World Economy Slipping in Spite of Quantitative Easing?
  15. A Detailed Insight into Trickle Down Effect
  16. Hegemony: What Does This Mean? What Are the Causes?
  17. A Detailed Insight into Economics of Poverty
  18. Government Spending and Economic Growth: What Are the Impacts?
  19. A Detailed Look at the Cause of Food Crisis: Food Shortage or Market Shortage?
  20. How Necessary Are Banks And Financial Institutions: A Quantitative Analysis
  21. Health Care and the Price of Commodity: What Are the Impacts?
  22. A Detailed Insight into the Causes of Economic Scarcity: Can This Be Avoided?
  23. A Quantitative Analysis of Measurement and Evaluation of Macroeconomic Performance
  24. A Detailed Insight into the Economic Aspects of Cultural Heritage

Today, there is an all-time high interest in economics. Economics helps us to study patterns and trends in demand. This can be used in predicting the flow of business cycles. Whether you will like to write a research paper on the history of the economic system, about current issues affecting the economy, or you will like to delve into the future of the economy of the world, there is definitely something to write about. Above are research topic ideas to give you ideas of possible issues you can write about in your effective economics research paper.

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5 Tips to Craft an Effective Economics Admission Essay

chairThe academic essay is one of the academic documents that you will possess. Various schools require that applicants should craft an admission essay where they would highlight their academic goals and objectives.

It is said that the first impression matters a whole lot. An academic essay is what a school administration would evaluate you for to determine who you really are. The entire school panel will assess you and build an image of you with the help of what you have written in the paper.

The admission essay could be a huge challenge and arduous for high school students that look forward to studying economics in the college or university. An academic essay ought to be eye-catching and unique as there will be tons of applications and limited time to review each and every one of them.

The academic essay needs to be properly written as one need to present themselves in the best light. To craft an academic essay that will enhance your chances of securing an admission, you should consider the following tips.

1. Show Your Abilities

You have to let them know that you are hard-working. You can achieve this by telling them a story of how you have achieved numerous goals irrespective of the challenges placed on the way. Showing them your good grades is not enough to corroborate your claim.

2. It Should Be Well-Structured

You should try as much as possible to organize your writings. Many students hold this strategy with a pinch of salt when crafting an academic essay. Writing a well-structured academic essay will, first of all, create an appeal on the school panel and secondly, it will give them a well-detailed and clear picture of you.

3. Let Them Know Your Language Proficiency

The school that you are enrolling for would want to know the proficiency of your English. This is what they would determine through your academic essay. Before you use any vocabulary that you are unsure of its meaning, you should look up what it means and how it will fit into a sentence in a dictionary. It’s advisable to use simple and plain English as overloading an academic essay with gobbledygook may stifle your chances of securing an admission in your dream varsity or college.

4. Write about Them

Tell them that you know about their ethos. There are certain qualities to have so your targeted school can see you as an economics student. They expect you to have good communication skills, ethics, team skills, leadership skills, critical thinking ability, and more. You have to corroborate every claim that you make with a story. They have to be well-structured and compelling.

5. Write Smartly

The college/university is an educational center, hence, you need to appear smart by displaying your intellectual ability in writing. Write why the subject matters to you, and how you intend to graduate in flying colors.

An academic essay is a tool you can use to show what you are all about. Ensure that you take your time to craft a persuasive piece. Make enough proofreading before submission.

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Companies That Economically Assist Their Countries

financeEconomic growth is a necessity for the development of a country. Companies and entrepreneurs stimulate the growth of an economy. Companies help in the building of a nation. According to a study, small and medium enterprises account for more than half of all the formal jobs worldwide. They achieve this by providing goods and services. Without them, a nation’s economy will be smaller and weaker.

There are companies that have implemented strategies to impact on the growth of the economy of a country and enhance the lives of those living in it. World biggest corporations such as Apple, Shell, Walmart, Samsung have succeeded in impacting on each of the countries they are situated in.


Samsung has also affiliated with most South Korean companies which account for around 15% of the whole South Korean economy. It has assisted in mitigating the high rate of unemployment in South Korea by providing lots of jobs for the unemployed. It has contributed to making the Asian nation one of the richest in the world. With the yearly production of their mobile devices and other technological equipment, they have been able to generate massive revenues for the nation.


In the USA, Apple has its business established around an objective to help build the American economy and provide employment for the masses. Apple has already provided and supported over 2 million jobs and has plans to create more jobs with their new initiatives. They focus on investments to help create jobs for Americans.

Current Apple’s investments contribute to the American economy and were estimated to be over $350 billion dollars over the next five years. Apple is the largest taxpayer in the United States of America which repatriates over $38 billion to the coffers of the federation. This has been used in the development and provision of structural infrastructure in the nation.


The US economic growth can be attributed to one of the companies in the country known as Walmart. Walmart could take credit for the economic development in the 1950s and 1960s. It has contributed immensely in helping the United States of America become a global power to reckon with. Walmart has over 3,900 stores in the USA.

The US-based company is a vital conduit of importation of Chinese products into the market and the exportation of the USA-made goods into the Chinese economy. Walmart importation and exportation of goods accounted for over $49.1 billion generated in 2013. It has provided over 400,000 jobs between 2001 and 2013.


The Chinese economy has witnessed rapid growth over the years amidst the presence of world-leading Smartphone manufacturers like Huwaei. With the aim of the company in becoming the number two world Smartphone manufacturer, it has created a significant number of jobs and contributed massively to the revenue generation of the country. It produces Smartphones and exports them to over 170 countries. In 2016, Huwaei contributed about 42% income of the revenue generation in the economy.

From this, one can see the enormous importance companies are for a nation. They are not the fulcrum of a country but also the oxygen for the economic growth.

There you have it! Above are a couple of companies that assist their countries economically. Even after making a large sum from their investments, they still take it as a responsibility to partake in economic development and nation building.

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Sample Essay on 2018 Job Trends: Where to Address the Efforts?

new year's day 2018Nowadays, it is rather easy to change the profession and gain qualifications as often as one wants. That’s why it’s important to be on the know concerning the trends on the job market, especially for students who are still looking for a sphere to settle in. This sample essay will be equally useful for both – those who want to know more about the issue and those who write an academic paper on the topic and need some info about it.

The Bureau of Labor Statistics has published a report stating that the US economy provided people with 2.06 million jobs during 2017. Although it’s less than in 2016 (2.24 million), it’s still a promising number taking into account the global situation with unemployment. And from analyzing the last year’s situation, some specialized resources are able to predict the trends for the job market for 2018 that might help a great deal of people to focus on the right activities and improve the unemployment rates. That’s why it’s necessary to examine each of the tendencies in detail.

Glassdoor claims that it is essential to pay particular attention to artificial intelligence in the spheres of human resources and finance in 2018. In HR the AI solutions are coming to tackle easy, routine tasks as well as provide assistance in the process of CV sorting or matching the candidates with job offers. In the finance sphere, more and more tasks connected with data analysis and risk management are transferred to AI software and bots because this is a cheaper and more effective solution. What does it mean for the actual employers and those who want to enter these industries? It is significant to learn how to use these AI tools to gain maximum benefits and develop the skills that are still out of the AI’s reach like communication, decision-making, and problem-solution.

Another big trend that awaits applicants in 2018 is the transparent hiring process. More and more employers start using different software that allows the candidates to see every minor change that happens with their application. People will be able to see when the CV is opened, processed, discussed, etc. And this is a great and solid step to a high-quality talent acquisition process.

There is also a tendency of employees being promoted not vertically, but horizontally, and in 2018 employers will be more prepared for such a phenomenon. It is commonly accepted to climb the career ladder upward, but nowadays specialists more often want to move from one position to another, not just change the status and manage teams within the same domain. And companies start developing formal procedures for such cases to satisfy employees with timely solutions and comfortable “migrations” within the organization.

All in all, it is significant to keep up the pace with the changes that take place in different professional spheres. Otherwise, the moment people stop progressing, they will get replaced by more advanced specialists or AI-based software. They are possible to embrace and adapt to – time and efforts are the only things required to be abreast of them.


  1. U.S. Bureau of Labor Statistics. (n.d.). Retrieved January 15, 2018, from
  2. Ivanova, I. (2018, January 05). Economy adds modest 148,000 jobs in December. Retrieved January 15, 2018, from
  3. News, G. (2018, January 08). 5 Big Trends in Jobs for 2018. Retrieved January 15, 2018, from
  4. Schawbel, D. (2017, November 04). 10 Workplace Trends You’ll See In 2018. Retrieved January 15, 2018, from
  5. These 9 strategies can help you retain or find a job in 2018. (2017, December 18). Retrieved January 15, 2018, from
  6. G. (2017, December 20). Job Market Trends To Watch In 2018, According To Glassdoor Chief Economist. Retrieved January 15, 2018, from
  7. Top Jobs and Career Trends. (n.d.). Retrieved January 15, 2018, from
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Sample Essay on Working Abroad: Why Students Move to Other Countries for Earnings?

studentAccording to the survey among the Swedish students from Linköping University, 75% of fresh graduates are considering moving to another country. In the meanwhile, 10 000 of British young people are in the process of relocating to New Zealand. What are the reasons for such a massive youth emigration? Read our sample essay and find out!

A great number of newly-minted grads start researching opportunities abroad even before they scan the job markets in their own countries. There are loads of reasons for this kind of life decisions, and financial ones are the most significant stimulators of emigration and settling down in foreign societies.

The unemployment rate for young people who have just graduated from college, university or vocational school varies depending on the country – in Greece, it is the highest (43.4%), and in Germany, it is the lowest (6.4%). This economic problem might be a solid reason of why students move to other countries – they are seeking better work opportunities because within their homeland, they either can’t land a job or have to agree on positions for which they are overqualified.

Another reason for changing the country is improving a foreign language. The Economist claims that the most high-demand international communication means at marketing, sales, and support (apart from English) are German, French and Spanish. What is more, on average, the command of one of these languages can add a 10-15% bonus to the basic salary. That’s why it’s a solid motivation to acquire the skill, especially in the native environment where the process will be much faster and more effective.

There are also many volunteering programs that give an opportunity to see the world and gain valuable experience that might be very helpful in the future career. Why? Because when a student comes to a foreign country, they need to earn good reputation, respect, and acknowledgment from scratch without any assistance. This background polishes communication skills, problem-solving habits and the decision-making process.

Apart from the positive motives for emigration, there is also a theory that many young people move out not to pay back the student loan. While graduates stay within the state they’ve obtained a degree in, the repayments are automatically withdrawn from the payslip. However, when they leave the country, the installments are paid voluntarily. The UK government estimates a £75 million debt accumulated during the past 20 years, and the plans to make students pay back the loans are quickly revving into gear.

Globalization has made it possible for the majority of people to learn foreign languages, acquire new skills, and find jobs abroad in a faster and much easier way. So, when considering the reasons of why the emigration of students is growing with every year, these reasons aren’t always connected with a bad economic or political situation in the homeland. They are more about looking for new opportunities, meeting people from all over the world, and gaining experience. And young students happily embrace them.


  1. Why moving abroad can be great for your career. (n.d.). Retrieved January 15, 2018, from
  2. EU: youth unemployment rate by country 2017. Retrieved January 15, 2018, from
  3. Eleanor Harding, Education Correspondent For The Daily Mail. (2016, February 11). Graduates who move abroad to avoid paying back student loans will be tracked down by debt collectors to recoup £76m. Retrieved January 15, 2018, from
  4. Black, R., Engbersen, G., Okólski, M., & Pantîru, C. (2010). A Continent Moving West?: EU Enlargement and Labour Migration from Central and Eastern Europe. Amsterdam: Amsterdam University Press.
  5. Yang, X. (2015, June 1). Chinese College Students Risk Attitude to Moving Abroad to Study. Social Behavior and Personality: an international journal.
  6. Bjerke, L., & Mellander, C. (2016). Moving home again? Never! The locational choices of graduates in Sweden. The Annals of Regional Science, 59(3), 707-729. doi:10.1007/s00168-016-0777-2
  7. Jain, P., & Krieger, J. L. (2011). Moving beyond the language barrier: The communication strategies used by international medical graduates in intercultural medical encounters. Patient Education and Counseling, 84(1), 98-104. doi:10.1016/j.pec.2010.06.022
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Sample Essay on Economic Growth and Its Impact on Terrorism

Violent extremismTerrorism is one of the most serious global problems that threaten people’s lives and welfare. It’s important to raise the awareness of the issue and bring up the most significant connections. And that’s exactly what we’re doing in our sample essay. Read it and use the information for a greater cause.

According to the Institute for Economics & Peace and its 2015 research, the number of victims from terrorist attacks grew by almost 10 times during the period of 2000-2014. This is a shocking statistics leading to an assumption that much more serious and effective measures have to be initiated. However, before taking any action, it is necessary to dig into the nature of terrorism in order to find the most appropriate and efficient solution to the problem. In particular, it is significant to determine the connection between the terrorism and economic growth.

There is a 2015 study created by Seung-Whan Choi, the professor of the University of Illinois in Chicago. He used the information about the economic growth and terrorism to find the link between these two notions and discover new insights. And, he achieved both of the tasks.

Firstly, the professor divided the nature of the economic growth into industrial and agricultural because this detail impacts the terrorism activity as well as its type. Secondly, he linked the economic influence with 3 separate forms of terrorism – suicide attacks, international, and domestic. After taking into account these fairly fresh insights, Mr. Choi conducted a research and came up with very interesting and intriguing findings.

When the country is associated with the high industrial economic growth, the rate of the international and domestic terrorism decreases. However, in such a case scenario, the number of suicide attacks rises. In percentage correlation it looks like this – 1% industrial growth equals 1% digression of the international and domestic terrorism and 2% escalation of suicide terrorism.

Along with these discoveries, professor Choi found out that a proportionate economic growth and stability is not a solution to the terrorism issue. The assumption that providing people with better conditions and giving them the opportunity to participate in the economy of the state will reduce violence and attacks proved to be wrong in practice. In fact, it appeared that the more resources there are to defend the country, the higher the number of terrorism incidents the state experiences. It also emerged that the broadly assumed cause of the terrorist attacks such as the gap between the rich and poor doesn’t actually increase the rate of these violent episodes.

All in all, these study findings prove that there is a connection between the terrorism and economic growth, and it is not the one that the majority of scientists imagine it to be. The issue clearly requires further thorough research and more publicity.


  1. The relationship between terrorism and economic growth: Research. (2016, September 14). Retrieved January 14, 2018, from
  2. Tan, A. T. (2009). The United States and Global Terrorism. U.S. Strategy Against Global Terrorism, 1-17. doi:10.1057/9780230103474_1
  3. Berkebile, R. E. (2015). What Is Domestic Terrorism? A Method for Classifying Events From the Global Terrorism Database. Terrorism and Political Violence, 29(1), 1-26. doi:10.1080/09546553.2014.985378
  4. Linkages between inflation, economic growth and terrorism in Pakistan. (2013, March 27). Retrieved January 14, 2018, from
  5. Choi, S. (2014). Economic growth and terrorism: domestic, international, and suicide. Oxford Economic Papers, 67(1), 157-181. doi:10.1093/oep/gpu036
  6. Information on more than 170,000 Terrorist Attacks. (n.d.). Retrieved January 14, 2018, from
  7. Schneider, F. G., Brück, T., & Meierrieks, D. (2010). The Economics of Terrorism and Counter-Terrorism: A Survey (Part I). SSRN Electronic Journal. doi:10.2139/ssrn.1679750
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The World in 2018 Gala Dinner: 6 Main Questions to Be Raised

weddingThe World in Gala Dinner is a yearly event organized by The Economist – the renowned and famous all over the world newspaper of a magazine format. People who usually get invited to such an occasion are business leaders, high governmental officials and world’s most notorious academics. During the evening they share their bold insights and predictions that might define the global economy for the next year, and they do this in a casual atmosphere of cocktails, quizzes, lectures, and small talks.

Dinner Program

This year, the Gala Dinners will take place in Sofia on January 19, and in Athens on February 8. They usually begin with brief networking conversations over the cocktails. After that, the chosen speakers give their talks that contain thought-provoking contemplations over the economic future and inspiring predictions. The following activity is made up of a quiz that gives a chance to all Gala Dinner visitors to participate in an interesting, prediction-based questionnaire.

Among this year’s speakers, you will see the former Italian prime minister, the CEO & President of Xerox Hellas, the Chairman of the BoD, the Minister for the Bulgarian Presidency of the EU Council, and many other prominent people who will provide the listeners with valuable information.

6 Questions to Be Raised

The detailed program hasn’t been published yet, but judging from the previous years we can approximately state which matters the global leaders might discuss during the World in 2018 Gala Dinner. They may touch upon:

  1. The potential of economic growth in 2018. In 2017 a lot of states experienced the economic and political turmoil that led to stagnation, inflation, and decline. However, other countries managed to maintain the stable growth. Will the situation be similar in 2018?
  2. The struggles of Europe. Brexit, the weakened position of Angela Merkel and the reforms of the EU make the future of Europe indefinite and vague. But maybe the world’s best influencers will be able to shed light on this issue and share their thoughts.
  3. The economic rise of China and India. How will the economic growth of 2 most-populated countries impact the situations in the neighboring states?
  4. 2 technological leaders – the USA and China. The speed of innovations and their commercializing in these 2 countries affect the status of EU that right now holds a disadvantageous position in this field.
  5. The state of developing and developed countries. Due to the political fragmentation, many governments don’t have the opportunities to provide people with proper social conditions and education. Will this fact give a rise to non-profit organizations and unions driven to assist in the progress of developing countries?
  6. Donald Trump and international retreat. It is still unclear whether the new President plans to breach the terms of the international cooperation or just to renegotiate them. Anyway, in both cases, it is hard to predict the consequences.

The Economist’s Gala Dinner is exactly the event that can provide businessmen, investors, and researchers with valuable data that can be used to take important decisions. It is worth following it and taking into account the insights broadcasted during such an event.

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5 World-Famous Economics Universities that Train Well-Paid Professionals

teacherIf you think about opting for an economics degree after high school or just as a second higher education, this is always a good decision. Why? Because this field can offer you a wide range of positions – from market research analyst to a stockbroker or government official. In the USA, the average salary of an economist constitutes about $73K with the top compensation totaling in $141K. This should be a quite stimulating reason for you to consider a career in the economics domain. And while you’re weighing up all the pros and cons, we’ll present you a list of universities that can provide you with the most high-quality education in the field.

  1. Massachusetts Institute of Technology
  2. The department of economics at MIT has been functioning for over a century now. In the 1950s it was recognized as the world’s leading research center in this sphere, and since then, it has successfully maintained the title. The faculty earned the Nobel Prize, and many members are participants of the Econometric Society, the National Academy of Sciences, and other respectable scientific associations.

    The department offers undergraduate, postgraduate as well as PhD and doctoral programs, and guarantees many opportunities to display one’s skills and knowledge.

  3. Berkeley (UCB)
  4. Berkeley founded the economics department in 1903, and since then, it has been famous for its innovative approaches and highly qualified graduates. It holds the 3rd place in the US economics departments rankings according to the World Report and the US News. There are numerous interesting courses at your disposal and a wide range of additional lectures/seminars to satisfy your inner economist soul.

  5. The London School of Economics and Political Science
  6. This is one of the top-class schools that is the 2nd best educational institution in the social sciences in the world (rated by QS World University Rankings 2016-2017). 50% of its researches were classified as world leading in 2014. These numbers are impressive, but they are not the only thing that this university can propose.

    There are students from more than 130 countries, so the international diversity is guaranteed. In addition to this, LSE is partners with 5 other first-class colleges in the USA, China, Singapore, etc. This is a school with truly numerous resources and opportunities.

  7. University of Toronto
  8. The University of Toronto has a wide range of economics programs. What is more, they provide students with employment assistance and experiential learning. The university also organizes conferences that help keep the undergraduates abreast of all the news and discoveries in the economics world.

  9. University of Warwick
  10. The university claims to have reached a 90% satisfaction rate among students in 2017 within the economics department. It also takes the places among the first three educational institutions in various rankings for its proficient education and employment level of students. If you have a look at different numbers they state on their website, you’ll agree that it’s really worth taking into account.

    Contemplate over these 5 higher educational establishments to make the most out of the economics degree!

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The Currency: 6 Main Points that Influence the Cost of the Currency

moneyThere are many things that you don’t know about money. For instance, the US dollar is made of cloth, not paper, and printed with the help of high-tech ink with trackable properties. The interesting thing is that only 8% of all the money in the world is physical actual cash. The rest is stored in a digital form. But that doesn’t change the fact that it is the main tool of influence and living in our modern times.

There are more than 180 currencies out there, and they come under the impact of different factors that manipulate the currencies’ strength, value, and stability. We’re going to examine the main attributes serving as game changers to better understand the financial world.

  1. Inflation
  2. This process presupposes that the value of money drops down, and the goods and services start rising in price. It implies that the currency’s purchasing power declines.

    At present, among the countries with the lowest inflation, you can see Brunei, Israel, and Ireland. At the same time, the states with the highest inflation rate include Venezuela, Congo, and Angola.

  3. Interest Rates
  4. The higher the interest rates are, the more value the currency acquires. Why? Because they attract foreign investors and capital input. This way, the exchange rates rise and cause the currency to drive up the price.

  5. The Deficit of the Current Account
  6. The trade balance between a certain state and its partners is called the current account. When it is tilted, it can negatively impact the currency. For example, when the country is spending more funds on the foreign trade than it’s actually earning, it means that the state requires more capital from other countries – so, it borrows some money and its currency value goes down.

  7. Political Situations
  8. Foreign investors are more eager to pump money into the countries that are stable and offer at least a steady growth. However, when it is under a political turmoil, the economy can be unpredictable which inevitably influences the cost of the currency.

  9. Trade Terms
  10. The correlation between the export and import is very important for the currency fluctuations. If the export increases, consequently the demand for the country’s currency rises, and its value grows. At the same time, when the import is bigger than export, the situation affects the value conversely.

  11. Debt
  12. Once again, everything is connected with international relationships – when the country gains public debts because of funding the government or paying for public projects, it becomes less attractive for external investors. The reason for this is that debts cause inflation. There is also a case scenario that goes like this – the state prints money to compensate the debt, and such a sequence of events leads to the inflation as well.

    As you can see, there are, at least, six factors that manipulate the value of the currency. Of course, there are others, but the above-mentioned ones are enough to get a better understanding of the financial processes of your country.

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Sample Essay on Bill Payments: How Do People Survive?

moneyThis is a sample essay on the measures individuals have adopted to lower their bills. If you are required to write an essay on the same problem, you can use the points mentioned here to draft your paper.

With the cost of living raising with each passing day, individuals are forced to find ways to lower their bills so as to survive. By reducing their bills, people are able to spare some funds for their savings and use this amount when they retire or when emergencies arise. The termination of their employment contracts is another factor that forces people to reduce their spending. Without a regular paycheck, individuals may not be able to afford certain services in their homes, and only by reducing their bills, they are able to survive. This paper highlights some of the measures individuals adopt to pay less for goods and services.

Lowering the energy consumption in their homes is one of the ways individuals resort to reduce their household bills. Energy bills are usually the highest in most homes, and those looking to make savings and reduce their household expenditure find ways to consume less energy. They do this by replacing the light sources in their homes with energy saving bulbs and tubes. Heating and cooling of their homes is another area that brings about high energy bills, and to reduce this, individuals have invested in programmable thermostats that are energy efficient. These thermostats start up the air conditioner or the heater just before you arrive home, and this helps keep the power bills low.

Transportation costs also constitute a huge portion of the household bills and individuals have adopted measures such as buying energy-efficient car models and learning proper driving skills. Newer car models feature energy-efficient engines, and people are selling off their old models for the new ones. Speeding is one of the habits that reduces a vehicle’s fuel efficiency, and individuals are adopting moderate speeds when driving so as to reduce the fuel consumption in their vehicles. Families with kids are also opting for carpooling so as to save on fuel costs.

Entertainment and communication are other areas that individuals turn to when they need to reduce their household expenditures. People are increasingly using Skype and other online communication channels to talk to their friends and family rather than relying on paid mobile networks. They are also going for mobile networks that charge the lowest rates to keep their communications costs as low as possible. For their entertainment needs, people use one provider for their entertainment services so as take advantages of the discounts that come with bundled services. They are also very careful with their cable subscriptions with most only paying for the TV channels that they watch.

The tough financial times have forced individuals into reviewing their spending habits. People are doing away with luxuries as well as reducing their expenditure on basic services so as to survive.


  1. Adika, C. O., & Wang, L. (2014). Autonomous appliance scheduling for household energy management. IEEE transactions on smart grid, 5(2), 673-682.
  2. Barbu, A. D., Griffiths, N., & Morton, G. (2013). Achieving energy efficiency through behaviour change: what does it take. European Environment Agency (EEA), Copenhagen.
  3. Carroll, J., Lyons, S., & Denny, E. (2014). Reducing household electricity demand through smart metering: The role of improved information about energy saving. Energy Economics, 45, 234-243.
  4. Gans, W., Alberini, A., & Longo, A. (2013). Smart meter devices and the effect of feedback on residential electricity consumption: Evidence from a natural experiment in Northern Ireland. Energy Economics, 36, 729-743.
  5. Levinson, A. (2014). How much energy do building energy codes really save? Evidence from California (No. w20797). National Bureau of Economic Research.
  6. Nielsen, A., Lund, T. B., & Holm, L. (2015). The taste of ‘the end of the month’, and how to avoid it: Coping with restrained food budgets in a Scandinavian welfare state context. Social Policy and Society, 14(3), 429-442.
  7. Simcock, N., Walker, G., & Day, R. (2016). Fuel poverty in the UK: beyond heating?. People, Place, 10(1).
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