How to Score a 7 in Econs IA
Disclaimer:
I’m not a holder of an Economics degree, neither am I a professor in the world of Adam Smith, Keynes or the greatest economists that have ever walked on Earth. However, I would consider myself a zealous student in Economics, evident by my performance in the IB examinations, and especially my IAs which managed to score 40/45 (Grade 7). Reading this article definitely won’t miraculously guarantee you a 7 without putting in any effort, but following the framework might!
Ahh…. It’s that time of the year again: IA season! Right now, students in Year 6/Grade 12 will be scrambling to plough through countless drafts, in an attempt to meet deadlines. As you correct sentence after sentence, revise word after word, and dig through citation after citation, stop and ask yourself: Am I going down the right path?
For those who are unaware, students are required to write a total of three article commentaries for their IA in Economics, be it SL or HL. In these commentaries, you are supposed to incorporate whatever you’ve learnt from your textbook into a real-life situation. You are required to use relevant economic diagrams, evaluate, and analyse according to the context of the article you’ve chosen.
Somewhat, your article commentaries should be like your 15m part b) essay questions in Paper 1, albeit shorter of course, as you are capped to a word limit of 750. However, the article sets your essay question, and the IB requires you to demonstrate how you can pull theories learnt from the classroom and apply them to the real world. Additionally, you are also assessed on how you can extract real life information and link them to economic theories learnt. Therefore, the commentaries somewhat interconnect the aspects of “Real Life” and “Theory” as illustrated below.
Step 1: Choosing the Right Article
When it comes to Economics IAs, the recipe to scoring a Grade 7 starts from the beginning — your choice of articles. Some teachers overlook this, but the article you choose matters.
- Length of article. Choose an article that’s not too long, but not too short (1–1.5 pages is sufficient). You don’t want a lengthy article as it would bore the marker, neither do you want a short article as you would have inadequate content to discuss about in your commentary.
- Source of articles. I’m not sure if teachers have reiterated this to students, but you should be avoiding articles that are commentaries (especially those published from The Economists) AT ALL COSTS. Reason being is that you are required to do the commentary, and if you choose an article that has already done it, what’s the point of you doing the IA in the first place? Choose an article that simply reports the issue and is journalistic-based, not one which provides its opinions and evaluative conclusions.
Finding articles. To find articles, key in keywords into Google News instead of normal Google. You can’t use articles older than a year, so use tools on Google to narrow your search results to the “past year” will help you to save time. Be sure to save your article in a PDF format as you would be required to submit your article together with your commentary.
Once you’ve found the article that is sufficient in length, and is from a different news source from your previous article commentaries, be sure to send it to your teacher to seek his or her approval and feedback.
Step 2: Highlight Key Points
With your article selected, read through the article in detail. Highlight vital points of the article which you are going to use for your commentary.
For instance, if pertinent keywords are mentioned such as “inflation rate”, “fiscal policy” or “interest rates to be increased from 1% to 2%”, highlight them. This shows your marker that you are aware of economic theories you’ve learnt in class and are unable to spot them while applying it to the real world.
An example is shown below:
Step 3: Framework
- Introduction:
Every commentary begins off with an introduction. Here, you should provide a short summary or overview of the article, and DEFINE KEYWORDS. I cannot stress this enough, but please just copy and paste definitions from the textbook so that you would not lose the 2 marks from the definition criteria in your IA rubric.
Your keywords should be economic terms, such as “indirect taxes”, “market failure”, or “unemployment”. Essentially, as long as any economic jargon is brought up, be sure to define it succinctly in order to demonstrate to your marker: I know my shit.
- Problem:
Describe the problem being mentioned in the article. What exactly is going on that deserves the media’s attention? Is it stagflation, or an overconsumption of demerit goods such as sugary drinks or alcohol? While you describe the problem, use an economic diagram to explain it.
However, that’s not enough. At the same time, incorporate evidence whenever possible. This can come in the form of statistics, quotes, or statements made by renown public figures mentioned in the article. An example would be “the rate of lung cancer has shown to be caused by a 12.9% increase in consumption of tobacco cigarettes”.
- Solution:
Next up, it is to provide the solution the government or public organization is suggesting in the article. Is it an indirect tax, quota, or monetary/fiscal policy? Then, proceed to use an economics diagram to explain how the initial problem mentioned earlier will be resolved.
Always use the technique of beginning with the initial economic situation towards the final situation. (eg. Initial market price at P1 for a quantity consumed of Q2 à An indirect tax causes the market price to fall from P1 to P2, while quantity consumed decreases from Q1 to Q2.)
- Pros & Cons:
This is where the hard part begins. The first three parts should warrant you a borderline pass in your article commentary assuming your explanations and definitions were in depth and sufficient. However, the next part is to provide limitations and benefits of the solution mentioned. Effects on stakeholders? Alternative policies? Short term or long term effects?
Your body paragraphs should explain the graph in the context of the article’s problem or the policy and its effects. This basically very typically includes discussing the impacts on stakeholders (consumers, businesses, workers, etc.) and / or the market outcomes. Tragakes is your best friend here especially. Refer to her thoroughly. Understand and paraphrase.
- Evaluative Conclusion:
In your conclusion, take a stand or at least establish a relatively clear position. For instance, say your article is on something as tricky as stagflation; you can conclude with the stance that a contractionary monetary policy should be implemented, and back this up with the main benefits of this policy [in the short run], while also acknowledging its limitations, then continue by mentioning how supply-side policies should also be implemented for its benefits [in the long run].
Your body should’ve already mentioned and elaborated on the benefits and limitations you’re stating in your conclusion, so keep your reiteration of these key points very brief.
(PS. A word I like to BS is “integral approach” when my stand is a mixture of policies should be implemented because it looks sophisticated and legit. LMAO. I have a list of keywords you should bring up in your commentaries/essays if you guys are interested.)
To expound on this framework, I have decided to attach an Econs IA outline I did which can be found here.
By following this framework during your planning stage of your article commentary, you are sure to not lose any parts of your commentary and it will be whole! Always follow the structure of: Overview, Problem, Solution, Analysis, Evaluative Conclusion.
Step 4: Incorporating Diagrams
Ensure that you have two, well-labelled, clear and correct diagrams for EACH article commentary. (NOT two diagrams in total for all three commentaries.) Make sure you caption them too, in less than 10 words of course.
To draw graphs, most use either Microsoft Word or Google Drawings (found on Google Drive). Remember to save an editable version of your graph as you might be asked to edit them.
An example of a diagram, that is IN THE CONTEXT OF THE ARTICLE, can be found here:
Step 5: Check, check, check again
You’ve made it so far, and come to the end!
Kudos to you for reading till here! Not many can make it!
Now, last but not least, it is to check and double check again to ensure that your commentary is up to par.
Ensure that:
- Definitions are provided
- Diagrams are labelled + captioned
- Citations are done (especially for definitions taken from textbooks/study guides)
- Portions of articles used are highlighted
- Commentary between 700–750 word (Below 700 is too little content!)
- A peer of yours has proof-read it and is comprehensible
- Explanation is in depth
- There is analysis and a stand taken
Final Words
Writing an economics commentary isn’t as straightforward as ABC. There will be redrafting, rewording and many revisions based on your feedback from peers and teachers. However, the key is to make sure A NARRATIVE FLOWS.
When I mean a ‘narrative’, it is not about flowery language or drawing your commentary from fiction. However, the entire commentary should link from paragraph to paragraph together with analysis and evaluation. It has to make sense, and the paragraphs should piece together to morph into your final stand. It sounds simple, but putting it into 750 words makes it seem like an insurmountable feat.
On the bright side, don’t be dumbfounded as I’m pretty sure this guide has simplified the process for you! If additional help is required, there’s always tons of resources and helplines to assist you during the EETOKIA journey.
In summary, a framework is drawn below: