How to

write a
brilliant
IA.

What is an IA?
An internal Assessment in Economics is a written
commentary based on an economics article that you
have chosen.

The article you choose should allow you to explain and

analyze economic events.
For Economics SL, your IA represents 25% of your total IB
score.
For Economics HL, your IA represents 20% of your total IB
score.

What to do?
Pick an article that will allow you to use what we
have learned in class.
For your first IA, you mostly need to find an article
that will allow you to use the concepts of
supply/demand, elasticity, and market failure.
In your internet search, it would be useful to
search for the price of a commodity.
price of coffee, price of oil, price of cocoa, etc.

Where can I find an article?

You might browse the New York Times
International Edition in the schools library.
You can use any article you find anywhere, as
long as you have a hard copy to hand in.
You can show me your article so that can let
you know if it is appropriate.

Example article

As your IAs are a part of your formal

assessment, teachers are not allowed to
provide as much assistance with IAs as
we might like to.

Teacher Feedback
Written feedback should generally be limited to
reflecting on and explaining the instructions in
the syllabus --define, label, explain, etc.
Tell students what doesn't make sense, etc. Do
not give detailed instructions to students about
how to improve their IA. But you may ask them,
for example, to explain what this paragraph was
intended to mean, if a paragraph does not make
sense.
You may also mention, for example, background
theory notes needed here!

Then What?
Once you have picked an article, you need to
analyze it. If your article is about a change in the
price of a commodity, ask yourself:
Why did the price change?
Can I use a supply and demand diagram to
explain what happened?
By how much did quantity change?
Who was affected by price change?

Your IA
Write an economics commentary of 650-750 words, where you explain and
analyze what happened in the article you have picked.
In your commentary, you should:

Define economic terms

Explain economic theory
Use and explain graphs
Evaluate (more to come on this)

Format and Submission

Commentary First Draft Checklist
The ISB Economics Coversheet
Commentary
Number your pages and write your name as a
header on the top right hand side of each page
Use footnotes for definitions of key terms
(optional)
The Article
If the article is long, you need to highlight the
sections you use
Submission
Also submit an electronic copy of the
commentary and the article, for ISB records.

Your articles have to be

recent.
It should be no older
than 6 months from the
start of the course.

How else I can Help

I cannot choose an article for you, but for your first
IA, you could show me the article and I will tell you
whether it is appropriate or not.
You will get feedback on the first version and will be
allowed to make changes once.
The second version you submit will be your final
version.
Your IB Score will be based on this version.

The assessors appreciate

variety. With each article you
choose:
Cover a different part of the
world (i.e. Not only the US
and the UK),
And Use a different source

Assessment
There are 5 IB Criteria on which your
commentary will be assessed:
A: word limit+ IAs cover more than 3 sections of syllabus.
[2 marks]
B: 4 different sources + appropriate use of diagrams.
[4 marks]
C: Economic terms are used and are defined correctly.
[5 marks]
D: Theory explained and applied
[5 marks]
E: Evaluation
[4 marks]

The first three criteria of

your portfolio should be
no problem for you.
Mistakes are possible
here, but if you are
careful A, B and C
should be fine.

What separates the top

students is the analysis
and evaluation they
show in D and E.
Application of theory
Analysis of the article
Evaluation of concepts
involved

Expert
Analysis

Homer Simpson on Evaluation

Copy and paste this:
http://fliiby.com/file/132144/ay0fjcdh9o.html

Shopkeeper: [Homer has agreed to purchase a

Krusty doll for Bart's birthday] Take this object, but
beware it carries a terrible curse!
Homer: Ooh, that's bad.
Shopkeeper: But it comes with a free frogurt!
Homer: That's good.
Shopkeeper: The frogurt is also cursed.
Homer: That's bad.
Shopkeeper: But you get your choice of toppings.
Homer: That's good!
Shopkeeper: The toppings contain potassium
benzoate.
[Homer looks puzzled]
Shopkeeper: ...That's bad.
We start with Homer's simplistic evaluation and
then use it as a base for a more detailed evaluation
that includes specific details as to

why it's

good or bad. Dont be a being passive

receptacle of information; rather, passing judgment

on what they are learning simply doesn't occur to
them.

IAs are your chance to show that you have a

clear grasp on economic theory.

Economists structure their

thinking, so you should as well. Apply the
theories in a structured, considerate narrative.

Hierarchy of Skills

What is Evaluation?

EVALUATION

1. Short term versus long term

implications
2. Effects on different stakeholders
3. Prioritise the arguments
4. Question validity of a
theory/data presented

5.Can you detect contradictions/limitations

between economic theory and the real world
problem at hand.
6. Are there winners and losers
7. Is there any bias in the way the article was
written
8. Can you predict what will happen in the
future based on what happened in this
article?

Short Term Versus Long Term

Examples:
in the short run, abnormal profits can be
earned.
however, in the long run this is not possible.
or
in the short run, it is possible to justify the
infant industry argument. however, in the long
run, the industry could be inefficient.

The Validity of Assumptions

Most economic theory is based on assumptions. Identify
the assumptions in the article and question their
validity. For example:
The assumption of perfect competition that there is
perfect knowledge. This is unrealistic in globalised
markets dominated by advertising.

The theory of comparative advantage fails to take

transport costs into account (from the producing country
to the country buying the good). this is clearly a
weakness of the theory.

Stakeholders
Consider the issue from the points of view of different
stakeholders:
Examples

Domestic producers
Consumers
Government
Foreign producers
High income people
Low income people

Prioritise the Arguments

For example, you might structure your reasoning
like this:

The most important argument against

protectionism is.
The least effective argument for protectionism
is.
On balance, the strongest argument in favour
is

 Good answers make connections between

topics
Be aware that economic events never occur in
isolation
Question the reliability of any subjective
(normative) statement.
Consider short and long-term consequences

 Drop the ceteris-paribus assumption and

see where it takes you.
Challenge views and statements.
Consider the Fallacy of Composition that
what is good for one person is good for the
whole
Consider the Single Causation Fallacy that
only a single factor is the cause of an
economic situation.

the same
skills here that youre
showing in your exam
answers.

Remember youre showing