Here is an article based on which you need to write an essay. Analyse the article
You need to know the International Relationship topic(tariffs, subsidies and etc) Structure: 1st page is a screenshot of the title of an article 2nd page begining is background information about the artcle than you need to draw a digram that best represents the article than you need to analyse and describe the DIAGRAM Than you need to describe the problem that was opened at article Than you need to give a good solution for those problem Than you need to write evaluation by 3 factors that is (Adventages and disadventages of solution)(stakeholders: consumer, producer and gov. are worse of or better of …)(Other solution)\ The last one is conclusion.
What you need to know before you write:
● Avoid writing anything that isn’t going to earn you marks. You’re going to need all the words you can get for your analysis and
evaluation. Avoid quotes from the article and introductions longer than 2 sentences.
● Stick with 1 section of the course (micro, macro, international, or development). Don’t start off in micro (apple prices rise, supply
and demand, elasticity) and then evaluate the potential macro effects (this could hurt economic growth). Even if this is true, the IA
is about going deep into one part of the course, rather than showing the linkages between different parts.
● Less is (often) more. Because of the very constraining word count (750 words) you’ll want to focus on really developing just one or
two (two at the most) diagrams in your IA. And only evaluate one potential solution (the one in the article or one of your choice if
(and only if) there isn’t one in your article. Some of you, I know, are wondering, “What if the article mentions two solutions? Like
price ceilings AND subsidies?” Answer: the IBO says you can highlight the section of the article you’re going to focus on, so just
highlight one solution (and not the other) and you’re good to go. Bibliographies are not obligatory, but they’re nice. And if you
include them, they won’t count against you for the word count.
1. Key words (150 Words)
Don’t waste words with a lengthy introduction (or quotations). Instead right away start explaining the case using at least 4 course words
(and then use more later). You may want to define some of these words, but we’re definitely not looking for a list of definitions.
Actually definitions are not specifically required in this new syllabus.
The rubric only asks for terms to be “used appropriately.” So you can get away without definitions if you are using terms in ways that
show you definitely know what they mean. If you do define some words, do so only after you’ve used them in a sentence. Also, make
sure to always use the economic terms rather than the common terms for things throughout your IA. For example: instead of writing
“money” write “consumption” or “expenditure” or “spending.” This will help to convince the reader you are familiar with the subject.
2. Draw the Diagram (0 Words)
The diagram (and it’s titles, etc) do not count in your word count. You need to diagram the problem from the article. And also graph
your solution. Sometimes both the problem and the solution can be shown on one diagram. Sometimes not. Don’t include a diagram (or
any theory) that doesn’t help you to explain the case. Include in your diagram as much information as you can. It will need to:
● use a full title such as, “the market for apples in singapore”
● label all of your lines
● mark all of your intersections with a letter, so you can refer to them later in your article
● shade in and fully label the areas of the shapes on your diagram (i.e. excess demand),
● indicate exact prices/quantities ( % changes in price or quantity if they are included in the article. If not, label them Q1, P1, etc.).
Show as much as you can in your diagrams. A clear picture can help you
tell a lot. Obviously you will want to fully label your X and Y axis. Let’s
look at a simple supply and demand curve for apples:
3. Fully explain your diagram (200 words)
A big mistake students make is that they will identify the key concepts that explain the case, but they don’t explain how those concepts
work. They skip steps in their explanation. It’s human nature to do that. We all do that all the time. We assume the reader understands
what we’re saying. In this case you can’t do that. Explain all step by step. For example:
● “Supply shifts inward because there was a draught. This leads to a higher price and a lower quantity demanded”.
Maybe you’re thinking this isn’t too bad. However, this student has skipped a few steps. He doesn’t make it understandable to a reader
who doesn’t know the theory. If you have to be an expert to understand what you’re talking about you aren’t doing it right. You can’t
think of your reader as an expert. How about this?
● “Leftward shift of the supply curve means that, for any given price, less is supplied. This creates shortage at the original
equilibrium price, which puts upward pressure on price. Producers receive the signal to increase their prices and they do.”
Writing like this (step-by-step) isn’t easy, but you get to edit your own writing as many times as you want before you hand it in.
4. Develop Your Explanation (100 words)
Analysis is about explaining how the theory relates to the case. You have already done a lot of that by FULLY explaining your diagram.
But now I want you to take it a step further. Go deeper in your explanation. For example, explain how what is happening in the article
is not exactly what the theory said would happen (i.e because of the external factors that exist).
Explain to us to what extent the theory you have used explain what’s actually going on in the article? And show the linkages between
different aspects of theory. Basically you’re trying to take it to the next level. But you aren’t evaluating. You’re just making sure that you
have fully explained the theory and how the theory relates to the case.
5. Evaluate a solution (300 words)
Every article is about a problem. For example, apples are too expensive after the drought. In your commentary you’re expected to
evaluate ONE possible solution. If one is mentioned in the case it must be that one that you evaluate. You can suggest one and evaluate
that only if a solution isn’t already mentioned in the article. You want to choose the most appropriate (most likely) solution.
Evaluation in Economics
Evaluation is a very important concept in economics. It is what you to when you have finished analysing. By analysing we mean giving
your Definitions, Explanations, Examples and Diagrams (DEED). Show how the theories relate to the question and explain the theories.
Basically analysing is drawing out the theory and then evaluation is drawing your conclusions – also challenging the analysis.
The hard part about all of this is making sure that you say enough in your analysis and in your evaluation. So you don’t forget,
remember to “Do the DEED” when you analyze and then “CLASPP it all together” when you’re evaluating.
What are the consequences of one’action/decision/policy?
Use at least 3 of these in your evaluation. It’s about the deep development of the concept rather than quantity of perspectives.
● what effects would this policy (i.e. an indirect tax) have on the government (votes, reputation, cost/revenue), consumers (low/high
income earners), producers (big/small/infant industry, monopoly, industry type)
and the rest (who? – workers/banks/business customers/competition/suppliers/buyers of raw materials, importers, etc.)
● is the policy beneficial for some groups, but harming others/ to what extent?/ is everybody equally better of worse off?
Pros & Cons (of the action/decision/policy)
● what are the costs and the benefits of this policy?
● what are the arguments for and the arguments against this policy?
Short & long-term effects
● is the change good in the short-term, but over in a few years it will have undesirable consequences?
● will the policy be really hard on people in the short-run, but it fixes the long-term problem?
● will this policy fix one problem, but create another?
● after you criticize a solution, why don’t you suggest a better one
● you can also say “however the new solution might not be…..” and also show its weakness
TOK (assumptions, validity of data, bias,
● are there some assumptions being made, that the theory depends on that may not hold true? this is the same as “ceteris paribus”
the assumption that all other things being held equal, when in fact they might not stay constant.
● explain what might change and how that would affect your analysis.
Value judgement (synthesis/conclusion)
● discussing the priorities of a society, or the government is also a good way to keep things in perspective. A policy like subsidising
schools is good for families, good for the long-term macro economy, but bad for taxpayers who don’t have children, what are the
priorities as a society? Here you state your value judgement, and to what extent a policy/decision X is effective.
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