How to Write Economic Review
The review article forms part of the internal evaluation of the IB Economics course. The value of this component is 20% of your final score, but given the flexibility and time you provide, you should have no reason not to score high in this section.
The best part of the review text is what concept you can decide to write. Which articles do you decide to choose? In addition, you reliably have no time pressure, which gives you plenty of opportunities to modify and refine your comments.
This article aims to provide you with guidance:
· How to choose an economic article
· Method for writing reviews of the system
· Commentary on the definition
· Point [19659002] Select one Good article
This is the best advice I have heard about economics comment:
"Praise to convert non-economy to economy"
What does this mean?
This means that the article you choose should be mainly "non-economic", that is, use everyday language. However, you should have the opportunity to apply your economic knowledge to the article.
In light of this, please follow the following guidelines when searching for articles:
1. Don't choose articles with too many existing analyses
Articles written by economists or articles that have been heavily analyzed on the subject are not usually good reviews. This is because too many assessments will be done for you. You simply need to re-evaluate the articles. It is best to find articles with little financial input and analysis from daily journalists.
2. The article must have something that you can evaluate
The best articles are those that are controversial, for example:
Should this kind of goods be taxed?
· Should the monopoly be regulated?
· Should the government impose tariffs?
Is raising interest rates a good idea?
Is the economic growth in this country unstable?
No matter what the article is discussing, you must be able to discuss and measure the advantages and disadvantages of certain things. Therefore, articles describing policy choices are usually good for writing reviews.
Therefore, it is not recommended to select articles that list only some statistical data on economic occurrences.
3. Only one focus is used to evaluate
750 words are not sufficient to effectively evaluate multiple situations and policy options. Ideally, choose an article that reflects this - that is, describe only one situation/policy. If this is not possible, then highlight the relevant section of the article that you will be discussing.
4. Choose your concept before looking for an article
Consider the concept of the syllabus area where you are most confident in assessing. This means that you can confidently list and explain at least 3 advantages and disadvantages of policies/conditions, and use charts to illustrate these advantages and disadvantages.
A good subject for assessment can be:
Microeconomics:
Price floor and ceiling implementation
Taxes (Australia carbon tax is a good one)
Externalities
]・Buffer inventory plan
·Monopoly and oligopoly regulation
·Subsidy
Macroeconomics:
·Monetary policy decision
·Financial policy decision
·Economic growth influence
International Economics [19659002] Decisions to implement protectionism (usually tariffs)
Decisions affecting exchange rates
Developmental Economics:
Access to assistance
Growth and development
Find article :
Once you have decided on your topic, finding this article should be fairly straightforward. All you need to do is search Google for related articles on this topic. You may need some trials and errors. If you encounter difficulties, please try the following method:
Country + Topic
Such as Russian tariffs, Chinese ceiling prices, Australian carbon taxes
Google now has search capabilities for news articles.
If possible, have different views on the country you are discussing, that is, don't talk about China in all your articles.
Systematic way to write articles
This approach works for most articles you find. Please note that this is similar to the method described in "How to Get a Full Score in IB Economics".
1. Summarizing the important aspects of the article with 1-2 sentences (preferably 1)
Assume that the moderator has read your article, so you do not need to spend too much time explaining the content of the article. Only 750 words are available and each word counts. So keep this part as simple as possible.
The main purpose of this sentence is to let the examiner know what you think is the most important part of the article.
2. Show what your assessment intention is and what you are about to evaluate
. Undoubtedly staying in the examiner's mind, you plan to evaluate from the outset. Comments should avoid purely descriptive assessments and help prevent you from falling into a trap.
This should only have 1 to 2 sentences.
3. List and explain the advantages
The more detailed the explanation of the advantages, the fewer advantages you need to discuss, and vice versa. The goal is at least 2 and at most 3, although in rare cases you may have only one advantage that you can discuss in detail.
Through exercises, you will intuitively calculate the length and details that each advantage needs to discuss. Ideally, each advantage includes a chart.
As you become more advanced in essay writing, identifying these advantages is also very useful. "A key advantage is not to simply write down." Policies will reduce unemployment," writes. "Given that the economy may be experiencing deflation, a key advantage of this policy is that it will help bring the economy closer to completion. Employment.
4. List and explain the shortcomings
The principle and advantages behind this are the same.
5. Balancing advantages and disadvantages
In general, advantages and disadvantages do not have equal importance. Depending on the content being assessed and economic factors, it is usually more inclined to favor one side or the other rather than simply write "dependence."
This is basically your conclusion. For the vast majority of assessments, this should be a tentative conclusion that "overall may be beneficial" rather than "generally positive."
For policy evaluation, it may be useful to consider some alternative policy options here. Remember that doing nothing is a possible policy option.
Description of definitions
Trademarks are issued for proper definition, so it is important to define key economic words in the commentary. However, if the word limit is small, the definition will have an opportunity cost, which is the next best choice to give up when making an economic decision.
Therefore, you need to decide which terms you will define. When deciding how and how to define, keep the following points in mind.
1. Definitions should be integrated as smoothly as possible
For example, if you want to define a ceiling price:
Don't write:
The Chinese government has imposed a ceiling price on pork. The ceiling price is defined as the highest price that can be charged for goods or services.
to write:
The Chinese government has imposed a ceiling price on pork, the highest price that can be levied on goods or services.
The second method can better preserve words and flow.
2. Do not absolutely define every economic word in your paper.
You don't have enough words to define everything. Not all economic concepts are important to your assessment. Usually, if you find yourself defining terms such as supply, demand, price, or quantity, you will clean up too much.
In most cases, you are not using the definition of a reference text book, but rather to demonstrate understanding of economic concepts by using it correctly in analysis.
To understand what needs to be defined, do some data response questions, and see what is defined in part a).
Don't let your comments die by definition.
3. Avoid using footnotes
Footnotes are included in your word limit, and it usually takes more text to write the definition completely instead of smoothly integrating it into your comments.
Points to Remember
1. The purpose of your comment should be assessment. The assessment should not be the "extra" part that you add to your reward tag.
2. Your analysis must target your article
Basically, imagine if I replace your comment with your article for another article on the same topic. If your article is still "effective" then your article is not targeted.
Be careful when using general arguments, such as "Recession will mean a drop in demand for products." If the product is alcohol or cigarettes, this is an illegal situation.
In addition, if you say that "monopoly is managed by the government," ensure that the monopoly is not yet regulated. Similarly, if you suggest that the government lower interest rates and interest rates are close to zero (for example, Japan), then your argument is flawed.
Charting to reflect economic conditions. For example, if the economy in your article is currently in a recession, draw your AD/AS chart to illustrate this, and there is a deflationary gap. At the level of full employment output, there is no intersection between AD and SAS. If your goods industry is a net exporter, please raise the world price above the equilibrium domestic price.
The idea of the closing ceremony
The internal evaluation component should be the simplest component with the highest score. You have the flexibility of time. You can basically choose your own question.
Hope this guide will provide you with the necessary guidance and help you achieve IB economics goals.
Good Luck,
Ouyang Yang
Executive Tutor - Founder of Australian IB Tuition
- IB Blueprint
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Orignal From: How to get 7 points in IB economic practice
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