Sample Expository Essay: COVID-19 Impacts on Global Economy

Below is a sample outline and a well-developed expository essay in APA 7^th ed. on the topic: “Impact of COVID-19 on the Global Economy.” This sample is intended to help students write better essays.

Expository Essay: Impact of COVID-19 on the Global Economy

Essay Outline

1. Introduction
   • Hook: Begin with a striking statistic or quote highlighting the global spread and impact of COVID-19.
   • Background Information: Provide an overview of the emergence and rapid spread of the pandemic.
   • Thesis Statement: State the main purpose of the essay, which is to examine and explain the multifaceted impact of the COVID-19 pandemic on the global economy.
2. Body Paragraphs:
   1. Economic Contraction and Recession
      1. Subpoint 1: Global Economic Slowdown
         • Explanation: Discuss how the pandemic led to a global economic contraction, impacting industries worldwide.
         • Examples: Highlight the decline in GDP, disruptions in supply chains, and the significant drop in international trade.
      2. Subpoint 2: Recessions in Major Economies
         • Explanation: Explore how major economies, such as the United States and European Union, experienced recessions due to the pandemic.
         • Examples: Present economic indicators and government responses to mitigate the recession’s effects.
   2. Unemployment and Labor Market Impact
      1. Subpoint 1: Job Losses and Unemployment Rates
         • Explanation: Analyze the rise in job losses and increased unemployment rates worldwide as a result of lockdowns and business closures.
         • Examples: Provide statistics on unemployment rates and sectors hit hardest by job losses.
      2. Subpoint 2: Shifts in Remote Work
         • Explanation: Discuss how the pandemic accelerated the shift towards remote work and the adoption of digital technologies.
         • Examples: Highlight changes in work patterns and the digitalization of workplaces.
   3. Government Stimulus and Monetary Policy
      1. Subpoint 1: Fiscal Stimulus Packages
         • Explanation: Explore the measures taken by governments to stimulate their economies, including stimulus checks and financial assistance.
         • Examples: Discuss how different countries implemented fiscal policies to combat economic challenges.
      2. Subpoint 2: Central Bank Actions
         • Explanation: Examine the role of central banks in implementing monetary policies, such as interest rate cuts and quantitative easing.
         • Examples: Highlight the actions of central banks like the Federal Reserve and the European Central Bank.
   4. Impact on Global Trade and Supply Chains
      1. Subpoint 1: Disruptions in Supply Chains
         • Explanation: Discuss how the pandemic disrupted global supply chains, affecting manufacturing and logistics.
         • Examples: Provide instances of supply chain interruptions and their consequences.
      2. Subpoint 2: Changes in Trade Patterns
         • Explanation: Explore how the pandemic led to shifts in trade patterns, including increased localization and reshoring.
         • Examples: Present examples of countries reevaluating their trade strategies.
3. Conclusion
   • Recap: Summarize the key points discussed in the essay regarding the impact of COVID-19 on the global economy.
   • Emphasize the widespread and lasting effects of the pandemic on economic systems worldwide.
   • Concluding Thoughts: Discuss the lessons learned from the pandemic and the potential for future resilience in the global economy, highlighting the importance of international cooperation and adaptability.