how to write the ib economics exam evaluation
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Writing the IB Economics Exam
Time Management HL
Time Management SL
Define TermsS
howoff you precise definition of any relevant term and add a sentence that starts with “In other words. . .
“Economic growth refers to an increase in a country's total output of goods and services. It is measured by changes in real GDP (i.e. the increase in GDP after inflation has been removed). In other words it describes an improvement the level of the goods and services produced over a period of time.”
Give ExamplesI
nclude explanatory or relevant real-world examples.
Explanatory Example: We can see that a country is experiencing economic growth if its GDP rose from 3% to 4% as this means that the total amount of goods and services has increased by 1% in one year.
Real World Example: The Chinese economy grew by 8.2% in 2009 according to Asian Development Bank.
Clear Writing
The Introduction
Rehash the question and provide a context
Define the key terms in the question
Outline your main ideas
Explain what your essay will do
Foreshadow how you plan to evaluate
Do not write in the first 1st. person (I will .. ) or essay is a formal in nature.
Diagrams
Always an opportunity to include a well labeled and appropriate diagram
A diagram is useless unless you explain it in your answer
Figure 1
Shift in Demand
Data Response Questions
Use information that is included in the text
Com
mand Term
s
How to evaluateRemember CRAMPSS
Causes and/or Consequences
Reliability and Validity of Data
Alternative Explanations
Macroeconomic goals
Pros and Cons/Advantages and Disadvantages
Short and Long Term
Stakeholders
How to evaluateRemember CRAMPSS
C
auses and/or Consequences
Identify and explaining which is the most important and why.
R
eliability and Validity of Data
Identify any possible issues with the reliability and validity of the data.
A
lternative Explanations
Would all economist agree with a particular theory? How have they challenged this
theory and how valid are their arguments? Identify what happens in reality as opposed to
the model.
How to evaluateRemember CRAMPSS
M
acroeconomic goals
To what extent will a particular policy achieve the macroeconomic
goals of high employment, low inflation, high economic growth and
balance of payments equilibrium.
P
ros and Cons/Advantages and Disadvantages
Identify both sides and reach a judgment about which which side
outweighs the other
How to evaluateRemember CRAMPSS
Short and Long Term
Identified the short and long term causes or consequencesS
takeholders
Identify how individual stakeholders in an economy will be effected e.g. domestic consumers, the labor force, exporting producers, social welfare recipients etc.