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In most economics coursework the diagram carries marks in its own right, and a correct one is worth more than a paragraph describing it. Axes labelled with the actual variables rather than generic P and Q, curves labelled, the initial and new equilibria marked, and the direction of the shift shown — these are mechanical marks that students routinely drop by pasting an unlabelled textbook figure.
Every diagram needs to be referenced from the text and explained in sequence: what shifts, why it shifts, what happens to price and quantity, and what the welfare consequence is. A figure dropped into a page with no narrative around it is treated as unexplained, however accurate it is.
Be careful about movements along a curve versus shifts of it. A change in the good's own price moves you along demand; a change in income, tastes, or the price of a related good shifts the whole curve. Getting this backwards invalidates the analysis that follows, and it is the single most common conceptual error in first- and second-year submissions.
Microeconomics questions reward precision with the model: stating assumptions, deriving rather than asserting, and being explicit about whether you are in the short or long run. Elasticity questions want the sign and the interpretation, not just the number, and profit-maximisation answers need the MC = MR condition shown rather than implied.
Macroeconomics rewards mechanism. An answer that says a rate rise reduces inflation has described a correlation; one that traces the transmission — rates to borrowing costs to consumption and investment to aggregate demand to the output gap to price pressure, with a lag acknowledged at each step — has answered the question. Naming the school of thought you are reasoning from matters too, since Keynesian and monetarist accounts diverge sharply on the same event.
Econometrics is assessed on diagnostics as much as results. A regression table without tests for heteroskedasticity, autocorrelation and multicollinearity, or without a word about whether the specification is plausibly causal, is an incomplete answer. Report the standard errors you used and say why. Our econometrics page goes further into the specification and testing side.
Use the primary statistical sources — national statistics offices, central banks, the World Bank, IMF and OECD — and give each figure a date and a geography. Second-hand numbers quoted from a news article are a weaker citation and frequently turn out to be misquoted at the original source.
Real versus nominal is the trap. Comparing values across years without adjusting for inflation produces a conclusion that is simply wrong, and stating the base year you deflated to is part of showing the work. The same discipline applies to exchange-rate conversions and to per-capita adjustments across countries of different sizes.
Finally, be careful with causal language. Most undergraduate economics evidence is correlational, and a rubric that rewards critical thinking is usually watching for whether you know the difference. "Associated with" is honest; "caused" needs an identification strategy behind it, and if you have one, name it.
Yes — every diagram is drawn to convention and explained in the accompanying text.
We do, using Excel, R or EViews, with clear interpretation of the output.
Absolutely — give us the policy or scenario and we build the analysis around it.
Yes, written from scratch with a Turnitin report included.