How to Write a Classification Essay in Finance: Step-by-step Instruction

Writing guide
Posted on September 10, 2019

Let’s start with a clarification of what the purpose of a classification is.
First of all, classification essay is assigned to college students to help them think creatively. In this type of paper, the author defines some categories within a broader meaning. For instance, in case with the classification essay in finance, you might classify different types of currencies. Taking into consideration the fact that the author is required to provide good examples and explain how she or he has classified these examples and give the criteria for classification, the paper is persuasive to some extent. This type of academic papers is a good choice for a composition class that is more focused on engineering and science majors because these areas usually work with precise classifications and definitions.

When referring to classification essays in finance, it is important to say that the paper in this subject is no longer simply about formula calculations. Now the author of such assignment must demonstrate great writing skills together with an ability to structure text properly, do good research, use grammar and punctuation, format essay accordingly, as well as evaluate the overall style of writing. Financial classification essays in finance are not the easiest to write because, even though they do include some narrow topics, they also require very extensive research.

As for the tone of the classification essay written in finance subject, you have to make sure it is professional. The thing is that this type of essay is relevant to workplace writing, which means the author should pay attention to the term, phrases and words that he or she uses in the text. Make sure to use precise language in order to make the explanations of each category as clear as possible. Thus, the authors should stay away from imprecise phrases and slang of any kind.
In our guide below, we will go over how to write a classification essay in finance, outline it, write it, edit it, choose the topics for it, and so on. Make sure to keep on reading.

Take Pre-writing Steps

Before you begin to actually write the classification essay in finance, you have to choose the subject that you’re going to classify and the categories. Professionals recommend starting with something broad, so make sure to select the categories first.

When you are at this stage, remember the three stages of proper classification. Here they are:

  • decide on the most useful classes;
  • provide categories that are related to a single organization principle;
  • give examples that stick to every class (be prepared for some things to fit several categories).

First of all, you have to decide on the categories. Here, your number one goal is to logically sort things in order to make categories make sense and be interrelated. For instance, make sure you don’t mix types of financial crises with music genres. A better example would be arranging your folders on your desktop. You have to decide on different categories of folders: study, part-time job, dates, friends, fun, others, and so on. The main idea is to save time by providing you with an opportunity to find what you need faster. In other words, the purpose of this essay is to make your target readers understand what makes things similar and what makes them different. This in turn will help them to make decisions or important choices. For instance, after they read your classification essay about the banking systems, your readers should be able to choose which is better than the rest.

When it is time to choose the most suitable topic for a classification essay in finance, the authors have to pay attention to the things that they have good knowledge in. Make sure to select the topic based on the categories. Create a short or long list of subjects that you’re going to classify and then write the corresponding categories. You may decide to work out the categories that are based on the types of e-commerce systems if you’re more interested in online finance area. If you’re fond of writing about money, you may sort different ways of saving money in different categories (bank accounts, record one’s expenses, quite bad habits, and so on).

To make things easier, we have created a list of potential topics that you may use as your source of inspiration:

  • Types of cause of financial crises. With a lot of economic collapses occurring all over the globe, you can find many different research topics, especially taking into account the fact that specialists are still struggling to find the answer to this question.
  • Types of regulations of finance market. This classification essay can be your opportunity to research the role of regulations in financial markets, as well as look for the answers to what should be the effect of legislation on financial markets.
  • Types of factors that impact the loan pricing. There are certain factors that have a direct impact on commercial loan pricing. If you choose to write an essay about it, you’ll work with something that is relevant to the current era, which means it will definitely hook the interest of your readers.
  • Types of factors that fuel up the exchange rates’ movement. In this classification essay, talk about macroeconomics and various exchange models in order to classify the factors that have a direct influence on the movements and fluctuations in the exchange market. In this paper, your focus is on emphasizing the most recent progress in the field and discovering alternative approaches that can be used in the nearest future.

Information Gathering Phase

  • Focus on finding different possible research materials that are relevant to your topic and can be useful for writing a classification essay in finance. For example, use CNN network as your source for the biggest finance updates. You can click any of the entries in order to get more information on the current financial events together with trending stocks, changes in commodities, and so on. If you’re trying to find some good financial topics, CNN Markets is the right stop. When it comes to Forbes, the website is one of the trusted sources for the information about world’s business leaders, as well as leadership, personal finance, investing, stock market, articles on finance, etc. Browse Wall Street Journal that is one of the most popular finance magazines in the world, providing its audience with the attest news in the area of business, money and stock. Finally, consider surfing information on The Economist with a great mix of international news on business, politics, science, finance and technology.
  • Use information that you save from the sources as supporting facts for the finance classification essay. But when you choose any information segment, make sure to write down where exactly you have found this or that piece.
  • When you choose the reference materials, it is important to select only the sources that you know were written or reviewed by finance experts.

Classification Essay Outlining

Once you select your items and categories, it is time to create an outline that you will stick to when you’ll be writing the essay. Without a doubt, outlining is not an obligatory thing that you have to do. Nonetheless, it is highly recommended to have it in front of your eyes regardless of the stage you are at the moment. This is your plan. Your personal roadmap when it comes to writing. As for the classification essay, this paper has a standard outline that consists of the introduction paper, the body paragraphs and the conclusion. As an option, you can use a good old five paragraph structure.

Take a look at the simple outline for a financial classification essay that you may use to work on your paper:

  • Introductory paragraph
    Background information
    Thesis statement
  • Body Paragraph #1/ Category #1
    Item #1
    Item #2
    Item #3
  • Body Paragraph #2/Category #2
    Item #1
    Item #2
    Item #3
  • Body Paragraph #3/Category #3
    Item 1
    Item 2
    Item 3
  • Conclusion

Classification Essay Introduction Writing

Just like in any other college essay that you write for class, introduction is the starting point of the process. This is the part of the essay, where you either get your readers interested in finance subject or prove the topic is boring and deserves zero attention. Clearly state your subject, which means you have to explain what items you’re going to categorize. The good idea is to give your readers some kind of an explanation of the essay’s purpose. Why have you decided to categorize these terms or items? Besides, you will want to provide a strong thesis statement at the end of the introduction part. This will specify your groups and even give a short explanation of the criteria attached to every item. By means of example, consider the foreign currencies. The potential thesis statement on the chosen topic might sound like ‘Even though the market of foreign exchange is usually portrayed as a banker’s game, the world currencies can sometimes be an excellent diversification for a portfolio. The market offers tremendous opportunities, when it comes to the currencies that every investor or trader should know, together with the banks of their respective nations: the almighty dollar, Japanese dollar, Canadian dollar and Swiss franc.’

The Body: Writing Peculiarities

The body is the central part of your classification essay. In other words, this is the part of the essay where all the developments of your “plot” are happening. The body of the classification essay in the subject of finance may consist of three or more paragraphs. The number of the paragraphs is absolutely the author’s decision because he or she chooses the number of the categories.

Make sure to provide one paragraph for a different category. Start with explaining the criteria for each category and, if possible, talk about the weaknesses and strengths. Besides, it is important to give relevant examples. Consider the length of your project because this is the key factor that determines the overall structure of it, i.e. – whether you’re going to break down the body section into smaller paragraphs. What is more, it is important to use good transitional phrases and sentences in order to make sure that you’re clearly moving from one category or the other. Some writers believe that transition phrases and words are somewhat artificial categories, but your essay will benefit if you use some of those. Use the transition words and phrases like ‘in the event that’, ‘at the present time’, ‘with this purpose in mind’, ‘as previously stated’, ‘all things considered’, and so on.

Finance Classification Essay Conclusion Writing

When working on the conclusion part of the classification essay, the first thing that may come to your mind is that how to provide a good conclusion for this type of college paper. The answer is – easily. All you have to do is to start observing each category that you talked about in the body section and then go over the inferences that come out from every category. Examples should be used to make your points concise, clear and get the desired grades. When it comes to the length of the conclusion part of the classifications essay, try to be precise but make sure you don’t cut the essence of it. Avoid providing any new information at this point. Instead, let your readers know about any potential for further research.

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