IB Economics IA is an easy task to complete if you get the right source articles. The assessment evaluates how conversant you’re with current economic affairs, how well you can analyze these affairs critically, and the depth of your economic perception.
This guide covers everything you need to know to write the Economics internal assessment. We give you an overview of the subject, economic IA topic selection, key concepts, articles, and diagrams. You’ll use this information to build on the structure of the internal assessment based on the rubric for an overall score of a 7.
Furthermore, we’ll link to some examples of well-written IB Economics Internal Assessments for inspiration. Not to mention you can hire a writer on Help for Assessment to write the first draft of the assessment for you.
What is IB Economics IA?
IB economics internal assessment is an independent research task focused on the current economic affairs that have national or global significance.
Economics IA consists of 3 commentaries of news articles based on microeconomics, macroeconomics, and the global economy, and the maximum length for each commentary is 800 words.
For grading, Economics IA accounts for 30% of the final grades at Standard Level (SL) and 20% at Higher Level (HL).
Unlike Economics Extended Essay, this internal assessment is largely independent and self-paced, except in the case of the direction and support from an IB-approved supervisor.
Economics Internal Assessment Articles
The biggest challenge associated with the economics IA is choosing the right articles. To make things easier, you first should know what makes a good article and then find the best articles to use.
What Makes a Good Article for IB Economics IA?
The most suitable articles for the economics internal assessment tasks are the ones that:
- Have clear links to two or more sections of the IB economics syllabus, which consists of microeconomics, macroeconomics, and global economy.
- Include enough data for you to base your report on rather than too much analysis with already existing insights and conclusions.
- Focus on current events with an economic impact, meaning the articles must be no more than 12 months old.
- Lend themes to the drawing of one or two diagrams used to analyze, evaluate, or offer a solution to a certain problem addressed.
- Come from different but reputable sources, cover a different section of the syllabus, and be a primary source (meaning it’s free from opinions of popular publications or other writers).
Think about your personal interests when choosing the articles. The economic issue under investigation should be controversial, thrilling, and debatable enough to give you the drive and motivation to write.
How Do I Choose My Articles?
To select the best articles for the internal assessment in economics:
- Write down a list of keywords that will help you find suitable articles. Phrases such as price cap, demand, supply, debt, sanctions, national debt, and dumping are good enough to get you started.
- Open Google on your preferred browser.
- Type your keyword or phrase in the search box and go to the News section.
- Check search results present, weigh them against what makes good articles for economics internal assessment, and bookmark the links you find helpful.
- Try it with Google Advanced search, which allows you to refine your search criteria even more.
- Use an alternative keyword if a particular search term doesn't return the results you are looking for. And if a keyword seems too general or too focused, tweak it accordingly.
Rinse and repeat this process until you are satisfied with the results. And given that IB requires you to think globally, ensure the articles you choose come from different parts of the world.
IB Economics IA Diagrams
A comprehensive internal assessment in economics needs to have at least one diagram, sometimes two.
The diagrams must relate directly to the problem at hand and offer a more technical analysis with clear labeling and detailed explanation.
Below is an example of a diagram with correct labelling:
As you can see, the diagram includes:
- A title that clearly states what’s in the diagram
- Properly labeled curves
- Clearly labeled X and Y axes
- Intersections of the most important curves
Arrows are not necessary in the Economics IA diagrams. However, you can include them to demonstrate the extension of demand and marginal cost.
How Do I Structure IB Economics IA?
There’s no official or strict structure for the assessment. However, your report should have the following components:
Introduction
The introduction should be 150 words maximum.
- Write only the most important details because IB teachers award more marks to those who go straight to the point.
- Include at least four course words to explain your case.
- Use key terms without defining them, as long as they’re economic words and you know what the terms mean.
Draw Your Diagram
The diagram is an important element that shows you understand what the topic wants you to look into.
You have to draw two diagrams: one for the problem and the other one for the solution. You can merge the two diagrams into one, but it’s important to consult your teacher first.
Include as much relevant information in the diagram as possible. Write the title in full, label lines, use letters to mark intersections, shade and label areas of excess demands, and include prices.
Explain the Diagram
Identify the key concepts that explain your case and explain how those concepts work to make it easy for your readers to understand what you’re saying.
To get this right, don’t think of your readers as experts in the topic for which you’re making a case. Instead, explain your concepts gradually.
Your explanation for the diagram should be no more than 200 words long.
Develop Your Explanation
Here’s where you show how the theory and key economic concepts, which are choice, economic well-being, change, intervention, interdependence, sustainability, efficiency, equity, and scarcity, relate to your case.
While your diagram has good information so far, you have to take this a step further by providing a more detailed explanation.
Your readers should see clearly the extent to which theories explain what’s going on and links to the different aspects of the theory.
Evaluate the Solution
If you already have a solution in your case, it’s best to evaluate it. Or you can suggest a better solution and evaluate it, provided you haven’t mentioned it anywhere in your writing.
Ensure you suggest the best solution. And if you are not sure a solution will be appropriate for your case, don’t include it in the article.