Enrichment
Famous Economists, Big Ideas | Boost Essays with Real-World Examples
28th March 2025
Want to stand out in your A-Level or IB Economics exams? One of the best ways to secure those top grades is to apply the big ideas of famous economists directly to real-world issues. In this video, we introduce a lineup of iconic thinkers and their game-changing concepts — from Keynes to Mazzucato, Schumpeter to Ostrom — and show you how to use their theories to add depth and evaluation to your exam essays.
💡 Get exam-ready with insights from:
John Maynard Keynes and the multiplier effect
Joseph Schumpeter and creative destruction
Joan Robinson on monopsony power and imperfect competition
Elinor Ostrom and the governance of common resources
Esther Duflo on RCTs in development economics
David Ricardo’s theory of comparative advantage
Arthur Lewis and the dual-sector model
David Card on the minimum wage
William Baumol’s contestable markets theory
Mariana Mazzucato and the entrepreneurial state
Whether it’s analysing labour markets, tackling climate change, or evaluating globalisation, these economists provide powerful examples that can transform a good essay into a great one.
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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