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Hey guys. 

So I'm doing a mock IA on this article http://www.southwales-eveningpost.co.uk/Minimum-alcohol-price-law-Wales-say-Labour/story-28029919-detail/story.html and its my first time writing an economics IA. I have written around 400 words however i don't know if I'm going on the right track.

So initially I've talked about the article as a whole. Then about price ceiling (while defining it) and its effects (like excess supply) followed by a paragraph on how the government can combat the excess supply. Lastly i did a stakeholder analysis. (all adding up to around 400 words)
I just wanted to know whether I'm going on the right track or whether its slightly "rookie-ish/amateurish"

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It sounds like you are on the right track. However, something seems a bit off with the word count. Have you done a diagram? If not you can add a diagram and a paragraph clearly explaining it as you would do in paper 1. But overall, I don't think there is anything you can add if you have sufficiently and in detail explained what you mention. I would try to get it as close to 750 words as possible.

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You're on the right track. You just need to add diagrams to make your IA better. Check out my blog for tips on writing the IA.

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