The Internal Assessment (IA) is a critical part of IB Economics, accounting for 20% of the overall grade in HL and 30% in SL. Crafting a top-scoring IA requires a balance of real-world application, clear analysis, and effective evaluation. This guide will take you step-by-step through the process of planning, writing, and refining your IA to help you achieve a Level 7.
1. What Is the IB Economics IA?
The Internal Assessment consists of three commentaries based on news articles that relate to different sections of the IB syllabus: microeconomics, macroeconomics, and international economics.
Each commentary is:
750 words maximum (excluding diagrams, citations, and headings).
Based on a single news article no more than 12 months old.
Marked using specific IB criteria: Diagrams, Terminology, Application, Analysis, and Evaluation.
2. How to Choose the Right Articles
The choice of articles can make or break your IA. Follow these tips to select the best ones:
Key Characteristics of a Strong Article:
Economics Focus: Look for articles that clearly relate to economic concepts. For example:
Microeconomics: Topics like taxes, subsidies, price controls, or market failure.
Macroeconomics: News on GDP, inflation, unemployment, or fiscal/monetary policy.
International Economics: Articles about trade barriers, exchange rates, or balance of payments.
Specific Examples: The article should provide enough real-world details (e.g., specific policies, data, or case studies) to analyze.
Recent: Ensure the article is published within the past year.
Where to Find Articles:
News Websites:
BBC News (Economy section)
The Economist
Reuters
Google Alerts: Set up alerts for keywords like “subsidies,” “GDP,” or “exchange rates.”
Pro Tip: Avoid overly technical articles or those focused on broad economic trends without specifics.
3. Structure of a Level 7 Commentary
A top-scoring IA commentary follows a clear structure:
Section | What to Include |
Introduction | - Briefly summarize the article (2–3 sentences). - Define the key economic concepts or terms. - State the focus of your analysis. |
Diagrams | - Include at least one diagram, neatly drawn and fully labeled. - Integrate it into your analysis. |
Analysis | - Explain the economic theory or model relevant to the article. - Apply the theory to the real-world example in the article. |
Evaluation | - Discuss limitations, alternative perspectives, or long-term implications of the economic issue. |
Conclusion | - Summarize your findings and connect them back to the question or issue raised in the article. |
Pro Tip: Use subheadings (e.g., “Introduction,” “Analysis”) to organize your work and make it easier for examiners to follow.
4. How to Excel in Each Criterion
The IB uses five specific criteria to grade your IA. Here's how to maximize your marks for each:
Criterion A: Diagrams (3 Marks)
Include well-drawn, clearly labeled diagrams.
Ensure the diagram directly relates to the article (e.g., a negative externality graph for a pollution-related article).
Refer to the diagram explicitly in your analysis.
Example:"As shown in Figure 1, the government subsidy shifts the supply curve from S1 to S2, reducing the price to P2 and increasing quantity to Q2."
Criterion B: Terminology (2 Marks)
Use accurate economic terminology throughout your commentary.
Examples:
Instead of “money the government gives,” use “subsidy.”
Instead of “how prices are decided,” use “price mechanism.”
Pro Tip: Create a checklist of key terms for each commentary and ensure they are included naturally.
Criterion C: Application (3 Marks)
Apply the theory to the real-world context of the article.
Integrate data and specific examples from the article into your explanation.
Example:"In 2023, the government introduced a $500 million subsidy for renewable energy projects, aiming to decrease reliance on fossil fuels."
Criterion D: Analysis (3 Marks)
Show depth in your analysis by:
Explaining cause-and-effect relationships (e.g., how a tax reduces negative externalities).
Using diagrams to illustrate your points.
Breaking down complex concepts into logical steps
Example:"The imposition of a $5 per unit tax shifts the supply curve from S1 to S2, increasing equilibrium price and reducing quantity demanded from Q1 to Q2, thereby addressing the overconsumption problem."
Criterion E: Evaluation (3 Marks)
Discuss the pros and cons of the policy or issue.
Consider:
Short-term vs. long-term impacts.
Alternative policies.
Limitations of the theory.
Example:"While the subsidy increases renewable energy production, it imposes a significant opportunity cost, potentially reducing government spending on healthcare or education."
5. Common Mistakes to Avoid
Choosing Weak Articles: Avoid articles that are too broad or lack specific examples.
Ignoring Diagrams: Every commentary must include at least one relevant diagram.
Over-Describing the Article: Summarize briefly—spend more time analyzing and evaluating.
Exceeding Word Count: Keep your commentary under 750 words.
Using Informal Language: Write formally and use proper economic terminology.
6. Tips for Efficient Writing
Start with the Diagrams: Build your analysis around them.
Plan Before Writing: Spend 10–15 minutes outlining your commentary.
Use Bullet Points for Evaluation: This keeps your arguments concise and clear.
Get Feedback: Share your draft with teachers or peers for input.
7. Example Topics for Each Section
Here are some topic ideas to inspire your commentaries:
Microeconomics:
Government-imposed taxes on sugary drinks to combat obesity.
The impact of subsidies on electric vehicles.
Macroeconomics:
Fiscal stimulus packages to address recession.
Central bank decisions to raise interest rates.
International Economics:
Trade restrictions due to political conflicts.
Currency depreciation and its effects on exports.
Conclusion
Writing a Level 7 IB Economics IA is about balancing theory with real-world application. By choosing strong articles, mastering diagrams, and focusing on analysis and evaluation, you can craft commentaries that impress examiners. Remember, consistency across all three commentaries is key—start early, seek feedback, and refine your work to perfection.