How to Get a 7 within IB Economics IA

How to Compose an Economics IA Commentary

Commentaries comprise the interior assessment component of the IB Economics program. This component will probably be worth 20percent of last mark, but because of the freedom and time you may be supplied, there ought to be no reason at all why you cannot get increased mark within part.

The good thing of commentary writing is you can determine which concepts to create in. You select which articles to choose. Furthermore, you may be under relatively no time force, gives you ample chance to change and improve your commentary.

This article is made to guide you through:

· How to choose an economics article

· a systematic method of composing a commentary

· A note on definitions

· tips to remember

Choosing a article

In one phrase, this is the best advice I’ve heard of economics commentaries:

“a great commentary turns non-economics into economics”

What does this suggest?

It means the article you choose should always be predominantly “non-economics”, for example. uses daily language. But there ought to be an opportunity for you to apply your economics knowledge to the article.

With all this, follow these directions whenever finding your article:

1. Never pick articles which have way too much current evaluation

Articles written by economists, or articles which have a significant quantity of evaluation of the topic already, are often negative commentary pieces. This is because too much of the assessment would have been done obtainable and you may merely be rewording this article with little input. It is better discover articles from daily development reporters who’ve small economic input and evaluation.

2. Articles must have something that you can examine

The most effective articles are people where there is certainly some conflict, including:

· Should a tax be positioned on that great?

· Should that monopoly be managed?

· Should the government enforce a tariff?

· Is increasing interest levels recommended?

· Is it country’s economic development volatile?

No matter what article is discussing, you should be able to talk about and weigh up the benefits and drawbacks of some thing. Therefore, frequently articles explaining policy choices are good for composing commentaries on.

It really is thus not advised to choose articles that just list a lot of statistics with regards to something which has occurred to the economic climate.

3. Only have one focus for your assessment

750 words is not adequate to examine multiple circumstances and policy choices successfully. If at all possible, pick a write-up that reflects this – for example. just describes one situation/policy. Should this be extremely hard, after that highlight the relevant the main article that you’ll talk about.

4. Pick your idea before seeking this article

Take into account the concepts in your community of the syllabus that you will be many confident about assessing. What this means is that one may with confidence list and clarify about 3 benefits and drawbacks of the policy/situation and show these with diagrams.

Great subjects that are assessment rich could possibly be:

Microeconomics:

· utilization of cost floors and ceilings

· Taxes (Australian carbon taxation is a good one)

· Externalities

· Buffer stock systems

· Regulation of monopolies and oligopolies

· Subsidies

Macroeconomics:

· financial policy choices

· Fiscal policy choices

· Economic development ramifications

International Economics:

· choice to implement protectionism (frequently tariffs)

· choices to influence the change price

Developing economics:

· getting aid

· Growth versus development

Locating the article:

Once you’ve chosen your topic, locating the article should always be relatively easy. You just search Bing for associated articles on the topic. You may need a little bit of learning from your errors. If you get trapped, test this method:

Country + topic

E.g. Russia tariff, Asia roof cost, Australia carbon taxation

Bing now has a search function for development articles.

If possible, possess some variety when it comes to which nations you discuss, for example. cannot speak about Asia for many of articles.

a systematic means of composing this article

This approach is useful for most articles you find. Note that this is similar to the method described in “ways to get complete marks in an IB economics essay”.

1. Summarise the important facet of the article in 1-2 phrases (preferably 1)

Assume the moderator has already look over your article, which means you don’t need to spend a long time outlining just what this article is about. With just 750 words available, every word needs to count. Therefore keep this part as succinct as you are able to.

The primary function this phrase is always to allow examiner know very well what the main article you consider becoming key.

2. Amuse purpose to evaluate and just what it is that you will be assessing

Keep undoubtedly in the examiner’s head, straight away you intend on evaluating. Commentaries that are purely descriptive with little assessment should always be prevented helping to prevent you from dropping into that pitfall.

This should simply be 1 to 2 phrases.

3. List and clarify advantages

The greater detailed the reason of the advantage, the a lot fewer advantages you will need to talk about and the other way around. Strive for about 2 as well as many 3, although in uncommon instances you might only have one advantage you discuss in length.

With repetition, could intuitively work-out the way the length and detail that each advantage needs to be talked about in. If at all possible, consist of one diagram per advantage talked about.

While you become more higher level within essay writing, it is beneficial to qualify these advantages besides. Rather than merely composing “One key advantage is the fact that policy wil dramatically reduce jobless,” compose “because the economic climate will be experiencing a deflationary space, an key advantageous asset of the policy is that it will help to create the economic climate nearer to complete employment.”

4. List and clarify drawbacks

The axioms behind this are the same as for advantages.

5. Consider benefits and drawbacks

It is often the scenario the benefits and drawbacks usually do not carry equal fat. Based on what is being assessed while the economic climate in consideration, it is more appropriate to lean one part or another in place of merely composing “it depends.”

This will be really your conclusion. For the majority of evaluations, this would be a tentative conclusion, for example. “the likelihood is becoming advantageous overall” in place of “its undoubtedly advantageous overall.”

For evaluations of guidelines, it may possibly be effective right here to think about some alternative policy choices. Keep in mind also that doing nothing is a potential policy choice.

An email on definitions

Marks are granted for correct definitions and therefore it’s important you determine key economic words within commentary. But with a tiny word limit, definitions incur an opportunity price, the second best option forgone whenever an economic decision is created.

Therefore, a determination needs to be made as to which terms could determine. Maintain the after in mind whenever determining exactly how and what to determine.

1. Meanings should always be integrated because efficiently as you are able to

For-instance, if you were to determine roof cost:

Never compose:

The Chinese government has imposed a roof cost on pork. a roof price is understood to be the most cost that may be recharged on a or service.

As an alternative compose:

The Chinese government has imposed a roof cost, the most cost that may be recharged on a or service, on pork.

The 2nd method saves words and flows better.

2. Never determine absolutely each economic word within article.

You just don’t have sufficient words to determine every thing. Not all the economics concepts are crucial towards assessment. Usually, when you’re defining words like offer, need, cost or quantity, you’re defining in excess.

In most cases, you amuse comprehension of the economic idea, perhaps not by quoting a text-book definition, but from it precisely within evaluation.

To obtain a sense of just what needs to be defined, do some information Response concerns and appearance at what is defined to some extent a).

Don’t let your commentary endure death by definition.

3. Avoid footnotes

Footnotes come within word limit and it surely will frequently cost more words to create a meaning in full in place of efficiently integrating it into the commentary.

Tips to remember

1. Your commentary’s function ought to be to examine. Assessment shouldn’t be the “extra” part you add-on for bonus marks.

2. Your evaluation must be aiimed at your article

Essentially, imagine easily took your commentary and switched your article for the next article on the same topic. In the event the article nevertheless “works”, in that case your article is not targeted.

Be careful when making use of common arguments such as for instance, “A recession means a decrease sought after for the product”. In the event that product is liquor or cigarettes, this is unlikely becoming the scenario.

Furthermore, if you’re saying, “The monopoly is should be managed by the government”, be sure that the monopoly is not already being managed. Likewise, if you’re suggesting the government reduced interest levels, while the interest levels seem to be near zero (e.g. Japan), in that case your debate is flawed.

Draw diagrams to reflect the problem of the economic climate. For-instance, if the economic climate within article is currently in a recession, draw your AD/AS diagram illustrating this with a deflationary space. Do not have advertising intersecting SAS within complete employment standard of production. In the event the article’s industry is a net exporter, draw the planet cost above the balance domestic cost.

Closing thoughts

The interior assessment component must be the easiest component to get large marks on. You have the freedom of time while basically reach pick your own exam question.

Hopefully this guide will provide you with the required course and to allow you to reach finally your IB Economics objectives.

Good-luck,

Owen Yang

Executive Tutor – Australian IB Tuition

Creator – IB Blueprint