This is hands down the most comprehensive guide on IB Economics Internal Assessment. You’ll learn everything you need to know about IB economic. And we will give you tips that you can use to do well in the subject and earn full marks.
What is IB Economics Internal Assessment?
An IB Economics Internal Assessment should be 750 words assignment marked internally and sent to IB for moderation, and it’s worth 20% of your economics grade. Your teacher expects to see one unit of the four economics commentaries in your assignment, which you can get from different parts of the syllabus.
This subject requires you to use sources that are not older than 12 months at the time of writing and they must be from different sources. During your research, you’ll more than likely come across longer articles. Should that be the case, it’s best to highlight and reference only the most significant section of the article in your assignment.
The word count of your IB Economics IA does not include calculations, content page, labels, diagram headings, acknowledgements, definitions, and citations.
Also, the IB program allows your teacher to look at and comment on your Economics IA. However, since they can do so only once, it’s best to put your effort into working on a good first draft.
IB Economics IA Diagrams
Economics Internal Assessment diagrams are worth 3 marks. To get the full marks for this criterion, you should include well-labeled diagrams with detailed explanation.
Below is an example of an accurate and relevant diagram with correct labelling.
Your teacher expects to see a closer relationship between the diagram you present and the economic concept you’re working on.
A good diagram for your IB Economics IA assignment should:
- Include a title that clearly states what’s in the diagram
- Have all curves labeled properly
- Have the X and Y axes labeled properly
- Show intersections of the most important curves
While arrows are not necessary in the Economics IA diagrams, you can include them to demonstrate the extension of demand and marginal cost.
IB Economics IA Structure
There’s no official, strict format for structuring your IB Economics IA assignment. As long as your work fulfills your instructor’s requirements, you should get a high score.
With that said, below is a simple outline that you can use to structure the assignment:
Step 1: Work on the Introduction
The introduction of your IB Economics Internal Assessment should be 150 words maximum. Since there’s only so much you can write within that limit, it’s important to include only the most important details in this section.
A standard rule to get this right is to avoid lengthy introductions. Go straight to the point instead. Use at least four course words to explain your case.
While it’s okay to define words, it isn’t necessary in the new syllabus. In fact, the rubric for Economics IA states that you should use the terms appropriately. So as long as you know what your key terms mean, you can use them without having to define them.
IB teachers suggest that if you choose to define words, it’s best to do so only if you have use the term in a sentence. Again, the terms you choose should be economic words, not common terms of things.
For example, instead of mentioning the term money, it would be more appropriate to use economics terms such as expenditure and spending. Doing so shows your audience that you know what you’re writing.
Step 2: Draw Your Diagram
The IB Economic IA diagram won’t be part of your word count, but’s an important element that shows you understand your Economics teacher wants you to look into.
You have to draw two diagrams: one for the problem and the other one for the solution. You may want to merge the two diagrams into one, but it’s important to consult your teacher first.
The most important thing to consider when working on your diagrams is to include as much relevant information in the diagram as possible.
Write title in full, label lines, use letters to mark intersections, shade and label areas of excess demands, and include prices.
The bottom line is that your diagrams should show as much relevant information as you can to explain your case.
Step 3: Explain Your Diagram
Don’t just identify the key concepts that explain your case. You should also explain how those concepts work to make it easy for your readers to understand what you’re saying.
To get this right, stop thinking of your readers as experts in the topic you’re making a case about. Instead, explain your concepts gradually. While this might be a lot of work that calls for a lot of editing, doing so can make a difference.
This section should be 200 words.
Step 4: Develop Your IB Economics IA Explanation
IB Economics Internal Assessment requires you to show how the theory and key economic concepts relate to your case. The economic concepts include choice, economic well-being, change, intervention, interdependence, sustainability, efficiency, equity, and scarcity.
Your diagram has good information so far, but you have to take this a step further by providing a more detailed explanation.
Your goal here is to show your readers the extent to which theories explain what’s going on and links to the different aspects of the theory.
Step 5: Evaluate
The last step in structuring your Economics Internal Assessment is to evaluate a possible 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.
It’s important to make sure you suggest the best solution. If you are not sure a solution will be appropriate for your case, don’t include it in the article.
Do You Need Help with Your Economics IA?
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