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Economics Paper 1 Tips

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I'm actually working on tips for paper 2 SL (same as paper 3 HL) so I will get those up as soon as I finish! I didn't take econ HL though so I know very little about paper 2 HL :/ If anyone has tips for that you're more than welcome to share (same for the other papers). :)

Hmm if you guys want I could put all the papers in one thread...

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I have mocks going on right now so I'm a bit pressed for time, but once they're done I'll put up tips for Paper 2. It'll be good to have all the tips in one place. Or maybe we can have a thread for HL and one for SL ( I don't know if the assessment criteria is different for both - Is it? Sorry, no one in my school takes SL econs so..).

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I'm actually working on tips for paper 2 SL (same as paper 3 HL) so I will get those up as soon as I finish! I didn't take econ HL though so I know very little about paper 2 HL :/ If anyone has tips for that you're more than welcome to share (same for the other papers). :)

Hmm if you guys want I could put all the papers in one thread...

You dont have any latest eco HL papers(2011)? my exams are in may so i really need to solve some latest papers.

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Mnemonic for determinants of demand/supply.

P-Price T-Taste

I-Industry I-Income

T-Technology P-Population

T-Taxes (Subsidies) P-Price of other products (Substitutes/Compliments)

S-ExpectationSSS S-ExpectationSSS

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Hi, quick question but I always get confused over whether to use the LRAS or SRAS diagram when they ask for the macro part in paper 1. Would you only use SRAS hen showing increases in the costs of production?

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does the mark scheme for the part a questions in paper 1 always mention to include 1 diagram or could there be instances when the mark scheme in the top band marks says to include 2 or more than 1 diagrams? Because my teacher said that once you put a diagram you're good but my friend told me that his teacher marked him down for putting only 1 diagram, and we both had the same question for practise.

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Hello, can you give any advice on using real world examples for answering paper 1 questions? It seems pretty difficult to me to use real world examples for macroeconomics.

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On 3/26/2017 at 2:16 AM, tw85246 said:

Hello, can you give any advice on using real world examples for answering paper 1 questions? It seems pretty difficult to me to use real world examples for macroeconomics.

Don't sweat about real life examples, especially for macro. There's really not many examples apart from common ones e.g. inflation in japan/venezuela, unemployment in spain etc. etc.

Students generally aren't expected to excel in Paper 1, as can be discerned by the boundaries: 36-38/50 is enough for a 7. That means you only need to score 18-19/25 per question, which isn't easy, but not overtly difficult either – and can definitely be achieved even without examples. Such an element imo is too stressed upon – the amount of effort needed to know all specific examples for each micro and macro subtopic and then being able to apply them is time better spent elsewhere as the usual difference between a good response without an example and a good response with an example is about ~4/25 marks. That means with perfect understanding of the theory, you can achieve 42/50, more than you need for a 7, without even knowing examples. 

It's better simply to master the theory and your diagrams rather than wasting precious time learning specific real life examples and applying them – it's needed for the highest of mark bands, but even to get a 7 you don't need to do so. 

Also worth noting that a lot of the Paper 1 questions nowadays have a built-in premise that you can simply extrapolate upon to whatever country you live in e.g. question about monopoly power regarding supermarkets you can simply use a real life supermarket name/brand from your country. 

Edited by IB`NOT`ez

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Hi, my final exam is in 4 weeks time, but  I still don't know how to answer paper 1 properly to get good mark in Economics. 

Did anyone have sample answer for paper 1 and maybe 2? Also because I am not native speaker, sometimes my English makes my writing less concise.

So if there is any tips for non-native to write good answer, please answer me!!!

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On 10/9/2018 at 4:47 AM, bibi said:

Hi, my final exam is in 4 weeks time, but  I still don't know how to answer paper 1 properly to get good mark in Economics. 

Did anyone have sample answer for paper 1 and maybe 2? Also because I am not native speaker, sometimes my English makes my writing less concise.

So if there is any tips for non-native to write good answer, please answer me!!!

I think a good thing to do would be to resort to memorization- there's an excellent Economics guide out there called IB Economics In A Nutshell by Ellie Tragakes. All the notes in there are concise and perfect. I always use that book for my paper 1 and paper 2 and it works out brilliantly.

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What I think is very useful for revision was reading 50 Excellent Economics Essays for Paper 1.

It was great for reading through content and also it provided me a reference of what a level 7 looks after I have practiced some questions as the mark scheme is often very brief on details. It's also got a great guide for writing 10 and 15 mark questions.  You can get it here. 

http://www.ds-education.net/store/p5/54_Excellent_Economics_Essays_(PDF).html

Don't recite the essays though since the one that comes out will prob be different from the question you are gonna get in the exam. 

 

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