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Economics
Econ teacher troubles.

Hey all,

 

I am just about to start my second year of IB and to be blunt. I didn't learn anything in my Econ class last year.

The Micro and Macro IAs were due months ago but I never really understood what you have to do...The amount of work I have for this summer is insane, and I haven't done anything! it would make life so much easier if someone could help me under the Econ IA's better.

 

Thx :D

 

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Can you at least tell us your topic or area of interest and how far you have got??

 

Do you have any textbook to work with? You can probably study from that.

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It's really not that bad. Unless the syllabus has changed, you find a news article related to the economics theory you learn in class and you explain the connection. Then you show a relevant diagram of a graph (say, a shift in demand or supply) to explain what's going on. It's really simple when you find the right article. Having your textbook closeby is helpful as you can just look at the article and then at your textbook, to see immediately if the theory can be applied, but I suggest you try to ask your teacher again to explain to you what he wants if you aren't sure. That's his job, anyway.

 

I'll even explain it to you in Cantonese if you need :D

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What you need to do is find a relevant article - for microeconomics, market failures tends to be the easiest topic. Steps:

 

*The first few sentences of your IA should briefly explain what the article is talking about, make it VERY brief (no more than two-three sentences)

 

*Start defining key terms, so for example if you're article is about the government imposing a tax to reduce the negative externality of consuming a de-merit good, you'd define market failure/negative externality of consumption/de-merit good (WARNING: don't go overboard with defining economic terms, interweave them into your first couple of sentences, never write the definition in brackets, e.g. write it as ''excessive consumption of cigarretes results in negative externalities of consumption as consumption of this good has an unfavourable effect on third parties''.)

 

*Then you need to explain the economic theory behind negative externalities of consumption - you'll need to use a fully labelled graph or two to illustrate your knowledge on the topic - make sure to fully explain the graph as well. Also when you're explaining the theory behind the economic issue the article is about make sure to make the theory you're writing specific to the article. 

 

*Last bit (and the most important as it separates the 4s and 5s from the 6s and 7s): Evaluation - You have to discuss the issue the article is talking about so the advantages and disadvantages of the solution the article is suggesting, stakeholders etc. 

 

Good luck! 

 

 

Unless the syllabus has changed

 

The syllabus changed from May 2013 onwards. The biggest change is that now higher level students need to take a calculation based paper (paper 3). 

Edited by Pink97

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Thanks all,

 

My class uses the Person Econ book, but my tutor says its too wordy.

any sugestions on a better book?

 

as for IA suggestions. fo far I have 

 

Micro:

inelasticity

price fall/max

 

Macro:

market failiure

tax

 

Just no idea what articles to use or how to start.

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hey,

        Market failure and tax.. these both are micro not macro.. check properly dude..! For articles go to websites like Economic times, BBC news, WALL STREET journal,GUARDIAN,TELEGRAPH,REUTERS etc. These are the websites where you'll find many articles mostly related to externalities and tax.

Choose a article in which you think you can write more. And keep in mind to use more of economic terms in your IA. A graph is a must. AND EXPLAIN ALL THE TERMS.! (i can't stress that more) And do meet your teacher when ever u have doubt and take help from her. And before you start with your  IA draw a mind map so that you won't get stuck in the middle.

ALL THE BEST/ :P 

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