EE in Economics

[Hughie]

Can somebody please have a look at my essay title, general plan and outline and give me a little helping hand?

I've sent all this to my superviser via e-mail, but she hasn't replied yet and frankly, I don't have the time to sit around waiting for her answer

Extended Essay:

What was the impact of Korean foreign currency crisis and the subsequent IMF interference on lives of private consumers, households and small businesses?

or

Was the interference of IMF in Korean economy 1997-1998 beneficial for private consumers, households and small businesses?

Introduction

Define key issue: Korean financial crisis. Economy had gone from boom to trough because of foreign capital withdrawal. Rise in unemp., many companies going bankrupt, necessities' price rising etc. IMF had to interfere. State that this essay would be looking at the impact of the crisis and IMF interference on “normal people” – i.e. private consumers, small business.

Define key terms: Business cycle, boom & trough, fiscal (stimulatory) policy, Neo-liberalism.

Explain that survey was used to collect data as well as statistics from various sources. Explain that the survey was done on the internet as well as in real life.

Main body

Explanation of crisis itself isn’t necessary – it’s not about that. However briefly quote some statistics (e.g. falling GNP, rising unemp. etc) and link with survey as the answers would no doubt share some of their experiences. A diagram of stagflation as rising inflation and unemp. seems to be pointing that way. Briefly describe the response of Korean govt. and IMF to the crisis – their methods, etc – and define their school (IMF being neo-liberal).

Analyse the impact of IMF’s interference and consequences and using statistics determine if it was helpful in microeconomic level. See if there were any social costs. State that most people felt IMF’s interference necessary/unnecessary/beneficial/harmful or felt indifferent towards it, i.e. wouldn’t have mattered if it was Korean government or IMF doing the job. (based on survery)

Conclusion

Based on the content of main body, conclude that IMF’s interference was necessary/unnecessary/beneficial/harmful.

The survery would be done in:

1. My father's workplace - my father works in an economic-related area, so I think his colleagues would have deeper knowledge in Ecnomics than "normal" people would

2. My mother's workplace - my mother is a teacher, so hopefully her colleagues would be able to give me some opinions of the intellectuals.

3. Small businesses & Random civilians - I'm thinking of going around every shop that is in my suburb and asking them to fill it out; I've lived in this town for over 10 years now, hopefully some of them know me well enough (and are bored enough) to kindly fill out my survey. Also I'm thinking of going to a waiting room of a hospital, asking them to fill it out while waiting.

4. Online - yup, I think I'll post a survey on a forum like this and ask them to briefly fill it out; it'd take less time, it'd be more random and hopefully I can get people across all levels of income to answer.

What do you think?

Edited December 15, 2008 by Hughie

[imyrashid]

I think it's a really interesting topic - and the thing is with extended essays is if you like your topic it's alot easier to do.

You've also got to make sure you can answer the question effectively and the topic is not TOO broad.

I think your ideas are good, but in the end you just have to make sure you are answering the question - and not going on too much about other things.

First I was wondering how you were going to get your primary research - but you seem to have research covered completely. I would just suggest that you make sure you get proper data from your dad's business, with some kind of quantitative information. Your qualitative is covered with your questionairres etc.

So overall a great idea - hope you do well mate