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Found 262 results

  1. NOTE: This thread was written based on the syllabus for exams in 2012. A lot of this stuff is still useful for the 2013 syllabus though Ready to own economics? Alright, here we go! We’ll tackle this paper part by part. For paper 1, you will always have a choice of 4 questions. Each question has 2 parts, part A and part B. Each question usually relates to a specific section of the syllabus. For example, there could a question about price ceilings from microeconomics, a question about unemployment from macroeconomics, and so on. And you just have to choose ONE out of the four! So, it makes sense to pick the easiest question! Pick the question that you are most knowledgeable about and could write a lot about. So during your 5 minute reading time, this is what you should be doing. Read all the questions and think about which question you want to do. Usually people will really like one question and instantly know that they found their soul mate question. (OK, a bit of an exaggeration, but you get what I mean, right? Think through the different things you could say, the diagrams you could draw, etc. ) In the case that you are stuck between two (or more) questions, then think about part B. Remember that part B is more important since it is worth more marks (15 for part B vs 10 for part A). Which question do you think you would be able to best evaluate? Go for that question. Now that we got the basic structure down, let’s move on to the different parts of the question. Part A Part A of paper 1 always asks you to explain something. It is worth 10 marks. It may ask something like “Explain different factors that cause a change in the nation’s exchange rate.” So what do you do first? OMG HELP ME I’M GONNA FAIL I’M BLANKING OUT!!!! Right, remember to chill out before you start. You’ve prepared for this (or at least I hope you did), so don’t panic! Even if ideas don’t come to your head right away they will once you start writing! So take a deep breath before you start and relax your body. DEFINE any economic terms you see in the question! Show the examiners that you’re not confused by fancy-shmancy economics terms! Show them that you know what they are asking you. Plus you really should define them because you get marks for doing so So define any economic term you see in the question. Always include an example to back up your definition! Even if your definition is not totally correct but your example is good, you can still get full marks for your definition. For example, an exchange rate is one currency expressed in terms of another currency. An example would be that 1 US dollar is equal to 30 yen. Sure, this exchange rate may not be the actual exchange rate, but it shows understanding of what an exchange rate is. It shows that you understand the concept, which is what your examiner is looking for. Next, answer the question! Attack the question! If it asks you to explain a concept, do that! For example, we know that a change in supply or a change in demand could affect the value of an exchange rate compared to another. Some things that could cause a change in supply are…and then you ramble on about the different factors. Then state the effects of an increase in supply of a certain currency... A picture is worth a thousand words. And the best picture you could draw on your exam paper is a diagram to SHOW what you are talking about! If you say that there will be a decrease in the demand for a good/service, show it on a diagram! Make sure that you include all your labels, like axis labels, equilibrium points, etc. Also MAKE YOUR DIAGRAMS BIG. I would say to make them at least half a page big. Then, your examiner will be able to see nice and clearly what you're talking about, and they don't have to strain their eyes to peer into some tiny corner of your page to get the idea of what's going on. Remember, happy examiner = better chance of scoring high. Any label that you were taught to include on a specific diagram, include it! Then you can mention the effects of an increase/decrease in supply/demand, etc as shown on your diagram. Time management is key! Don’t spend too long on this question! Remember part B? Part B is worth 15 marks and part A is only worth 10 marks. Spending too much time on part A means that you’ll have to rush through part B. You should have a better answer for part B because it is worth more marks. Since you have 1 hour to write paper 1, I would spend roughly 25 minutes on this section. Once you’ve passed 25 minutes, stop writing for part A and move on to part B! Part B Ok, so we’ve reached the dreaded part B. It will always start with the word Evaluate. Some of you may be wondering what evaluation is. Evaluation is basically the effects of whatever is happening on different people. It is very important that you know how to evaluate here! Example: Evaluate the effect of a lower exchange rate on a nation’s economy. You might be thinking “What on earth am I supposed to say? That question is sooooo broad!” Yes, it is a broad question! It’s broad so that it can accommodate many different points of view and many possible answers. It’s impossible to talk about ALL the possible effects of a lower exchange rate on a nation’s economy, especially in a time of 35 minutes (given you spend 25 minutes on section 1). So what do you do then? Focus on one effect at a time. For example, you could say that a lower exchange rate will result in inflation due to an increase in demand from foreigners for domestic goods, then write about that and show it on a diagram. Now that you’ve explained to your examiner why inflation would occur, then you can mention all good and bad things that come with inflation as part of your evaluation. Inflation is usually a sign that an economy is growing and that people are buying more. Real estate owners would win because the value of their assets would increase. People who borrow money from a bank would also be positively affected because the value of the money they borrow is worth more than its value when they repay it. However, customers would lose because their purchasing power decreases. Lenders would also lose because they are repaid with money that is worth less now than when it was borrowed from them. In evaluation, you can also talk about businesses, the government, etc. Basically just talk about anyone/anything that could be affected. See how both sides of the effects of inflation are incorporated? That’s what you have to do when you evaluate. Talk about the good, the bad, and the ugly. After you talk about one point in depth (inflation) then you can move onto another if you have time. But make sure you’ve covered the important points first. Prioritize, prioritize, prioritize. IB likes to see people prioritize their points. There really isn’t a right answer as to which point should be the most important in your discussion. As long as you can justify your prioritizing, then it should be fine. Start with phrases like “The most significant effect of this policy is…” to show prioritization. Don’t forget about structure! The IB doesn’t have a set rule on whether you should write in point form or in sentences. However I would say that writing in full sentences looks a lot more professional. You want your examiner to have a good impression of you right? Not the impression that you’re cutting corners… It’s also good, wherever possible, to organize your thoughts into paragraphs so that you can clearly distinguish between different ideas. This being said, this is not an essay. Do not waste time writing an introduction and concluding paragraph. At most you could write a sentence or two, but it’s better to spend your time writing about things that can actually gain you marks. Well that's it for now...if anyone has any more tips to add, feel free to add on =D
  2. Hey! I am currently working on my world studies extended essay concerning economics and geography. My RQ is “To what extent are retirement homes accessible to seniors in British Columbia, but more specifically, Langley, BC?” I'm currently trying to find economic and geographical theories and concepts that I can use. Currently, I have economies of scale and fiscal policy (is this even an "Economic theory"?) Any help or suggestions would be much appreciated Also, I am looking for an online service that edits papers like this? anyone have any prior experience or suggestions on a service to use? Thanks in advance!
  3. I'm doing my EE in economics, and I need some help to develop survey questions. My EE is based on the market failure caused by a pharmaceutical firm in my locality. My supervisor isn't very helpful in guiding me, and i dont know what sort of a survey I should take. I was thinking of interviewing the firm, and then the local residents. How should i base by survey question?
  4. My Extended Essay title from Economics is What market structure best characterizes medicine supply industries in my area Baku? Is it too narrow or too broad? I could've chosen another city but this where I live so I can do some primary research.
  5. Hi everyone, For graphs, there are cases when they label quantity (in millions) on the X-Axis. For example, there is a tariff graph and a question asks me to calculate consumer expenditure. Would I still gain marks if I wrote the answer as "(Price value) per kg" even if the X-Axis label states quantity (in millions) kg?
  6. Hey guys something has been really bothering me lately. My school just sent my commentaries to the IB a while back. I found out that some definitions in one of my commentary weren't cited but were taken from 'Investopedia', however all my ideas and concepts were original. Will I get penalised for the uncited definitions?
  7. What are your predictions for paper 3 questions that could come up? Market structures (costs) maybe?
  8. Hey everyone, I really don't understand how to draw a structural unemployment graph, and my teacher is in the hospital. I am not able to find any info about it either. Please help
  9. I am unsure in the economics exam whether I need to draw the diagrams for all the questions on the graph apper provided by the examiners, or if I draw it ont he answer booklet alongside my response to the question. Any help would be appreciated, I'm stressing out over this
  10. economics

    Hello, my teacher introduced EE today and I am wondering what topic I should research on. I chose econ for my EE. I will be in Japan during this summer and am planning to collect data from there. I am thinking microeconomics since its easier to get data. Do you guys have any ideas what I could do? My teacher told me that he is sick of reading the topic of market structure, so I have to choose something else. Please help me...
  11. Hello, I have been following every single point of the syllabus for Macroeconomics and Development. However, I feel that I won't have enough time to cover Macroeconomics and International looking at the syllabus and in very efficient way. Therefore, I would like to ask if you guys know any source to study for these following the syllabus, any tips or study guide that may help me. Also, is there a way that I can learn the 1.5 Theory firm in faster way? Thank you so much, Danilo.
  12. Heyy!! I really need help finding an Econ IA article for Macroeconomics on unemployment or interest rates!! Please help. Thanks
  13. My research question would be "How would the legalization of recreational marijuana in Georgia affect the gross domestic product of the state?". Would there be too much speculation involved in order for this to be an effective research question?
  14. Hi guys so i have to write my IA in economics in micro about market failure, and im lost idk what to write and how to start i found an article about sugar tax but idk how to start writing my ia HELPPP!!! i have to hand it in a few weeks, so if someone can help me i would be happy
  15. Hi. I'm having some serious doubts about my course selection for the IB. I'm currently in Grade 10 and in my last year of MYP and will be starting the IB program this fall. I've chosen: English Lit HL Biology HL Chemistry HL Psychology HL German ab Initio SL Math SL This course combination suggests that I am leaning towards the medicine track. Although, the thing is, I'm not sure if I want to be a doctor. My parents really want me to go down this path because of the stability it provides (financial) They are also in the medical field so they know the field and they know this path very well. I've talked with them a couple times about my doubts and it usually ends in a fight. In their mind, I can only become 1 of 3 things: a doctor, a lawyer, or an engineer. *Engineering is pretty much out of the question because I suck at mathematics and I've taken two 'engineering style' courses (Intro to Computer Science and Design Technology) and I had to drop DT because I was failing the class. I am not doing too well in Computer Science either. *I'm not sure about being a lawyer too. I think I have the right skills for this career. And no, not the cliche 'I like to argue' one. I have a real passion and natural aptitude for the humanities. I have always gotten good grades in subjects such as English and History and I enjoy learning about these subjects. Unfortunately, careers in the humanities (except for being a lawyer - and even some lawyers share their experiences about how they are struggling to find work) don't pay well and I am afraid of taking a risk and changing all my IB courses to fit this pathway and I am unemployed, full of regret, and hate my life. *I'm also afraid that if I stick with my courses, I won't do well in them and I'll ruin my university chances and can kiss all my dream schools goodbye. Honestly, what top university would accept a student who had 5's for their HL sciences? Or less than that? Right now, I'm not doing badly in science. My grades range from an 88-92 but I have to try really hard to get this grade or even higher than this. In chemistry, my grades weren't bad I actually enjoyed it. Biology is okay up until you move past cell structure and you start learning about plants and anatomy and I find that really boring because of all the details & memorization. So, I would really appreciate some input on what course of action I should take. Should I listen to my parents, keep my course combo, and become a doctor despite the fact that I'm not sure if I want to be one? Or should I change my course combination?
  16. Hi! I urgently need help in finding an article that links any government policy (fiscal or monetary) to unemployment for my macroeconomics IA! Any article from 2016 would work!
  17. I'm just wondering what subject to do for my EE. I have a nice Physics investigation topic that I can do several experiments and write about them, which my Physics teacher kind of support and agree with the topic. But I plan to study Economics at the university... so I am just wondering if I write my EE on Economics will that boost my application? But I feel that it will be rather difficult to do so since Economics theory exists in the world and it is rather difficult to write about Economics research because economists have done a bunch of them. Another alternative is writing about Math. Well, this will take much more time, but I think it is worth trying if writing about Math can boost my Economics uni application. Thanks!!
  18. Hi guys, What do you think is a better EE subject choice for law? Unfortunately, I didn't take history in IB. That's why the options are either English B or Economics... I am interested in both of the subjects for sure. Economics might be a harder one for me to do tho. If I choose economics, I will talk about the effect of Brexit on the Spanish economy; and if I choose English, I will talk about the perception of law/justice in one play... What do you think might be more useful to do? Do EE subjects matter at all?
  19. Hello all, I'm in the process of selecting my IB courses for the next 2 years. I'll be completing the full IB at an established IB school so I have quite a few options. I'm interested in studying law or a social science at a UK university such as Oxford, or King's College. I think I have narrowed down my IB choices to the following: English A Literature HL History HL Economics/Business Management HL ESS SL (I know this is a 'soft' subject but I'm not a great science student!) Math SL Spanish A Literature/French A Lang&Lit SL What do you think about this subject combo? Do you think it's too hard, too easy? Also, do you think it's good for UK entrance and for the courses I'm interested in? Any advice would be greatly appreciated! Thank you
  20. Hi, I am an IGCSE student doing; Chinese, Economics, Geography, DT(Resistant materials), Triple award Science, Add Maths and IGCSE Math and I have to hand in my options for my IB option very soon. My dream job is to go in be a teacher (secondary school) So far for my IB options I have decided to do : English literature and language(SL),Math(SL), Geography(HL) and Chemistry (HL), however I have to make the choice between HL Psychology or HL Economics and between German (SL) and Spanish (SL). Thank you for your time
  21. Hi, I was thinking about topics for an extended essay in economics. The thing i'm most interested is in game theory and the Nash equilibrium. Could somebody help me form a topic on these theories?
  22. Right now I still have 4 high level’s, as I only need 3, I need/want to drop one HL subject. My two options are economics HL, or English language and literature HL. ECONOMICS ENGLISH It is not subjective. I can work really hard and memorize the definitions and concepts and it will be a right or wrong answer It is subjective, teacher A might like my essay but teacher B might say that it is a bad essay. Have to do paper three. Calculations Have two read two more books than SL student It takes up a lot of time to understand the concepts. We can’t really study for English. Just need to understand the text in depth. The grade boundaries is really different The grade boundaries are not too different. I’m planning to take fashion business as a university major. So economics will really benefit my knowledge for this major. Language will defiantly help me write thesis in university. However, it has nothing to do with my major. I’m really confused on which one I should drop. Anyone have any suggestions?
  23. Can anyone please help me with this For my Extended Essay, I plan to do research on the business/economic aspect of football. As football is becoming more of a business in the modern day, and many decisions are business motivated it is what i plan to research. However, the issue is that along with checking in with my supervisor we realized that the Business Management EE is more an analysis of an organization making a decision or activities of the firm and that business tools would need to be used. Also, we could not find how we would apply this topic to the Economics IB syllabus. Examples of what I would wish to study are analyzing China’s recent activity in the football market and their 50 point development plan for football in China or the expansion of the world cup to 48 teams. There is nothing specific under this topic I wish to do my EE in and any thing that I can find suitable to do my EE related to this topic will be great.
  24. Can anyone please help me with this For my Extended Essay, I plan to do research on the business/economic aspect of football. As football is becoming more of a business in the modern day, and many decisions are business motivated it is what i plan to research. However, the issue is that along with checking in with my supervisor we realized that the Business Management EE is more an analysis of an organization making a decision or activities of the firm and that business tools would need to be used. Also, we could not find how we would apply this topic to the Economics IB syllabus. Examples of what I would wish to study are analyzing China’s recent activity in the football market and their 50 point development plan for football in China or the expansion of the world cup to 48 teams. There is nothing specific under this topic I wish to do my EE in and any thing that I can find suitable to do my EE related to this topic will be great.
  25. Hello! I'm a tenth-grade student planning on doing the IBDP for my junior and senior year. As we are beginning our second semester soon, we are required to pick out our subjects for IB. I had a couple of concerns as when I told people about the subjects I'm intending to take, they said I would face a hard time. I'm hoping to study engineering at university, hopefully, either chemical and biomolecular engineering. I'm also hoping to get into a top university as it would help me so much! The subjects I'm planning on doing are; -Physics HL -Math HL -Chemistry HL -Economics HL -English A Lit SL -Arabic B SL As you can see I really don't want to spend time on languages and I clearly want to focus on sciences and maths. If you have any concerns or advice I could use, it'd be greatly appreciated! Thank you