Writing Your IB Economics IA? Read This

• Posted on November 8, 2024
• Sakina Chitalwala

Are you an IB Economics student dreading the daunting task of writing your Internal Assessment (IA)? Fear not! This blog post can help guide you through the process of crafting a high-scoring IA. We’ll delve into essential tips and tricks to help you navigate the complexities of economic analysis and present your findings in a clear and compelling manner. Whether you’re a novice economics student or a seasoned pro, these insights will empower you to excel in your IB Economics IA.

1. Keep it simple

Select a topic that does not require much fluff and is simple to understand – if you can’t explain a complex topic within the 800-word limit, thereby confusing the examiner, you could lose significant marks across your criteria. While selecting the article and your key concepts, keep it as simple as you can. Explaining and evaluating a concept that’s easy for you to understand makes it much easier for you and the examiner to follow through. This sets the tone for great cross-questioning as well.

The best topics include those having a clear economic theory, meanwhile also having the scope for relevant and nuanced evaluation. For example, taxes and subsidies are both great topics as they have clear diagrams in the syllabus and can be connected to other topics like externalities and elasticities.

Another thing which you need to keep in mind is: don’t jumble up between all the units – don’t make a royal mess of macro, micro, and global economics. This would dilute the focus unnecessarily. Make sure you stick to each of the 3 commentaries and give your full focus to each topic.

Here are some examples of topics:

Microeconomics Topics:

• Taxes, Subsidies
• Price Controls
• Externalities
• Monopoly Power

International:

• Tariffs, Subsidies. Quotas
• Exchange Rates

Macroeconomic Topics:

• Interest Rates
• Fiscal Policy
• Unemployment

Development:

• Trade Strategies
• Market-Based Strategies
• Interventionist Strategies

2. Choose the right article

The choice of the article is crucial to your entire Internal Assessment! It is this very choice which decides your IA grade. You may look up to ‘The Economist’ or ‘The Financial Times’- which are great by the way for studying the subject as they’re filled with analytical data and reliable information. But for that very reason choosing an article with already-established evaluations will do no good for your own evaluation. With all the information out there from the get-go, you don’t get a chance to dig in and extract your own topics.

Instead, look at reliable websites which have relevant IA titles but give you a chance to tailor possible solutions and evaluations on your own. At the same time, make sure you steer clear of any sites that are not reliable for accurate information and statistics, like lifestyle blogs, social media, podcasts, etc. Head towards well-known news agencies like BBC, CNN, and The Guardian.

Also, make sure you choose an article that is not too long – stick to one that’s not more than 2 pages long. Working on lengthy bulky write-ups means cramming up information that you cannot sum up within the word limit. And the most important thing – the article SHOULD NOT be more than a year old from your submission of your IA. To be safe, choose an article that’s around 6 months old.

3. Plan your IA before you start writing

This is something that we stress enough not just for IB Economics but for every single essay out there – be it an IGCSE answer or a University Application Essay. Plan your answer before you begin writing the first draft of your IA. Brainstorm all the global issues and concepts that you want to explore in the article. Then move onto the outline – set up your bullet points for the introductory paragraph, body paragraphs, and conclusion, till you’re confident that you have covered all bases in your outline.

One issue that examiners have seen in students’ IAs is that they don’t follow a specific structure. This leads to a disorganisation of ideas, a directionless argument and ultimately a loss of marks. Even if the ideas are brilliant, if they aren’t executed and organised in a cohesive manner then the students end up losing marks. Your teacher will help you with your first draft, but once you have made the edits you don’t have another chance and your second submission is the final submission.

This can be avoided in the beginning itself when you draw a clear and complete outline.

Here’s an IA Example for you to understand the outline.

At Young Scholarz this is exactly the kind of help we provide. With detailed and nuanced feedback, we have helped multiple students with their IOs and IAs.

Note: we provide guidance and feedback for students to work on their own IAs, we don’t write their IAs for them.

4. Include clear and concise diagrams

First – know your diagrams through and through. You don’t need to be an artist to impress the examiner. You need to get all facts right and relevant to your IA. Diagrams are the heart and soul of IB Economics – so you need to sell it to the best of your abilities.

You should not include more than 2 diagrams in your essay. Make sure that you have given sufficient explanation for the ones you include, and provide all the necessary information needed on the graphs. Also, use arrows, bars, and numbers on the graph. Arrows are essential and integral to any diagram.

Remember that your job is to make the examiner’s job an easy one – so put all the necessary information out there in a clear and concise manner, without having them go through anything twice, leaving them high and dry.

Use the diagrams relevant to your IA – or create a connection between that and your topic. Don’t include a demand diagram when you’re talking about an increase in supply. These little things are in fact very important when the examiner gives you marks.

5. Avoid technical mistakes

This is where most of the students lose their marks.

Let’s say you forgot to attach the article to your IA commentary. Or, the cover sheet of your commentary is not attached in order. You may have forgotten to highlight the important parts of your commentary, leaving the examiner in a scramble to go through the entire commentary – something which they may not do at all and miss out on the crucial points. These kinds of errors get in the way of a good flow and a great IA which could otherwise be flawless.

Remember that your commentary is only 800 words long. The examiner is not required to read that post. So, if you exceed your word limit then there’s a good chance that they will miss your conclusion – the part where all the important information is resting with a bow on top.

Include the bibliography – don’t forget to include your bibliography especially when there are sources other than the article.

6. Evaluate the article in a wholesome manner

This is where your IA gets most of the attention – your ability to assess and evaluate a factually sound article. 

Make sure your evaluation has all your attention. This acronym is your guide to a proper evaluation: CLASPP:

C – Conclusion

L – Long-Term vs. Short-Term – Will the policy be effective in the long run?

A – Assumptions – What economic principles are contradicted or overlooked in the article? How does this impact the proposed solution?

S – Stakeholders – How does the article’s proposal impact different groups (consumers, producers, government)? Who gains and who loses?

P – Priorities – What should policymakers focus on? Does the article’s proposal fit this focus?

P – Pros & Cons – What are the pros and cons of the policy proposed in the article?

Even if your topic focuses on 2 problems, focus only on one possible solution. You can always add the other solution as well but make sure to highlight the main solution.

Some of the common mistakes that students make:

1. Judgements are not made
2. They’re made but their reasoning is incorrect
3. The reasoning made is not satisfactory or complete

A good way to understand how you can improve is by going through the older IB Mark Schemes for Paper 1 evaluative Questions (part b). Prioritise your arguments and don’t forget your main focus midway. Keep circling back to the main idea at the end of every body paragraph.

To conclude,

Remember, the key to a successful IB Economics IA lies in simplicity, clarity, and thorough analysis. By following these guidelines, you can significantly enhance the quality of your work and boost your overall grade. Don’t underestimate the power of a well-structured argument, clear diagrams, and a critical evaluation of your chosen article. With dedication and a strategic approach, you can confidently tackle this challenging task and achieve the results you desire.

For detailed and personal guidance on not just your IB Economics IA, but also other parts of the subject, and other IB subjects, check out our courses.