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Famous Economists, Big Ideas | Boost Essays with Real-World Examples

Geoff Riley

28th March 2025

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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.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty 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 and Revision conferences in the UK and overseas.