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Economics SL P1/P2 TZ2

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This paper was OK for me, except that I found out that my analysis was partially wrong for one part D question and I think I forgot a label or two on two diagrams that I drew *sigh*

Which questions did you guys do? I did question 1 (the one about price controls), 2 (the one about Germany) and 4 (the one about cars in Australia).

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P2 was TZ0 - I did the exact same questions actually, haha. I feel like P2 went really well, some of my definitions were a bit weird and I also thought it was strange that you had to do subsidy graphs in both Q1 and Q4!

Edited by Cynthia

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Really? Why would they make P1 with 2 timezones and P2 with just one? Anyhow I'll change the title, thanks for telling me :P

Yeah the definitions were weird! Defining savings was a weird one, and defining both inflation and deflation haha. I also thought the subsidy diagrams in both questions were strange. I think my evaluation was kind of weird because I talked about things that most people didn't talk about, like for question 4d I talked more about subsidies than the tariffs/quotas that most people in my class talked about.

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@cynthia,

Although they asked for two subsidy graphs they were different! Q1 asked to show an INCREASE in subsidy so in fact you had to draw three supply curves. S, S+ subsidy, S+ increased subsidy. Also, the one in Q1 was just a simple demand-supply diagram whereas the one in Q4 was Ddom, Sdom, Sdom+subsidy, and Sworld which is the second horizontal supply curve. I thought the paper was pretty good as well, but had to rush the last d) part cause I was running out of time!

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Moderator - Merged from other topic:

well no one wrote about it yet, I was wanting to know what people thought of it. I did question 1, about price control on foods in developing countries, question 3, about the Brazilian economy, and question 4, about the Australian car industry. I thought that question 1 and 4 were almost the same thing, especially the subsidy diagram. Both were pretty straight forward and fair. However I did question 3 for last and almost running out of time I don't think i did a good job.

So what were your thoughts on general?


i found it fair and also that both 1 and 4 were pretty similar. especially the subsidies diagrams and explanations came out to be practically the same. However i did question 3 about Brazil, i found it complicated because I was running out of time and i sort of rushed my way through the last 2 questions

Edited by Keel
Topic Merged

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i found it fair and also that both 1 and 4 were pretty similar. especially the subsidies diagrams and explanations came out to be practically the same. However i did question 3 about Brazil, i found it complicated because I was running out of time and i sort of rushed my way through the last 2 questions

I answered questions 1,2 and 3. Questions 1 and 2 were pretty fair.. Question 3.. not so much. What graph did you show for the reason that Brazil's exchange rate was depreciating? I used AD/SRAS as cost-push inflation due to their import-push inflation, also I despised the question about National income and imports.. I ended up writing almost a page on it even though it was only worth about 4 marks.. Because I wasn't too sure what they'd want on the mark scheme so I'd figure I'd play it safe. I talked about what the circular flow model was and how Brazil's import expenditure was a leakage and allowed the level of national income to fall in the Economy due to money leaving the economy and not being spend on the goods and services produced by domestic firms. What did you mention for the evaluation? I was also quite short on time.

Edited by -Carl

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@cynthia,

Although they asked for two subsidy graphs they were different! Q1 asked to show an INCREASE in subsidy so in fact you had to draw three supply curves. S, S+ subsidy, S+ increased subsidy. Also, the one in Q1 was just a simple demand-supply diagram whereas the one in Q4 was Ddom, Sdom, Sdom+subsidy, and Sworld which is the second horizontal supply curve. I thought the paper was pretty good as well, but had to rush the last d) part cause I was running out of time!

Hmm, I failed to notice that the question asks for increased subsidy. However, I labeled the curves as S1 and S2 simply. I guess that means I still get full points?

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Am I the only one who did question 5 about development???

I did 2,4 and 5. I thought the exam was ok but really I would've been fine with about anything cause this was my last exam! I could hardly focus especially during the last 30 minutes all I kept thinking was "I will be IB FREE!!"

I am a little worried about evaluation in general though :S I always had a problem that I totally forget about the text and this time I think I panicked and did the exact opposite; I hardly included information not provided in the text!

A hypothetical question: If one in evaluation were to use ONLY information from the text, what is the max grade they could get??

Edited by Summer Glau
no text speak

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How did you all find it? Paper 1 was pretty straightforward, as usual -- but I wished I had picked the first question, about public and merit goods, instead of the second one, which I believe was about government expenditure. Paper 2, for once in my personal tenure, actually went well... I'd always struggle with them and time management but I nailed it this time. The biggest setback was probably that I forgot to include a diagram in one of my 8-mark questions. Other than that, I feel I did fairly well. I picked 1, 4, and 5 for the case studies.

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