What is the impact of the 2017 demonetization of Indian currency on India’s economy today?
Demonetization:
Immediate Results of Demonetization:
Current State of India’s Economy and Slow Recovery:
To be an economics paper you need to really involve the Economics theories found in the IB curriculum and go further with your investigation. IB wants to see their curriculum involved in the paper and a student pursue it further.
For Economics theory you definitely want to consider and examine:
Interest rates
Inflation rates
Money supply
Unemployment rates (jobs that paid cash as well as businesses…you touched on this go further)
Stability rate of inflation
Equity in the Distribution of income (or lack of it)
I would definitely look at GDP:
You may also want to compare this strategy to other fiscal policies
You may also want to look at exchange rates and trading power after this manoeuvre:
An economics paper needs stats, facts, theory and analysis. There should be data, tables, graphs and visual presentation to support your statements and views.
It’s obvious that the strategy didn’t work but where did it breakdown in terms of economics.
The stuff about eradicating counterfeit money, eliminating the black supply of money, and fighting tax evasion are all great and should be kept but you need to find stats to help support your statements.
I would touch on Behavioral Economics but only where you talk about Social Dimensions and Peak-End Rule. Here are a couple of sites you might want to look at:
Again limit this to only part of the paper, otherwise, it will be deemed multi-disciplinary and score poorly with IB.
Also, try to limit the historical discussion of past attempts of demonetization to a quick background into India’s economy. Nothing more otherwise it will detract from the theme of the paper.
