IBDP Economics Teacher/Tutor & Examiner, Holds a Master of Business Administration with 17+ Years of Teaching Experience.
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Jon P.
Country: Costa Rica, San José
Tutor Bio
I’m 18 years of experience in economics and business studies, with 7 years of teaching IB DP economics & business management. I’ve taught curriculums to students around the world. My view on education is to build on what students know and apply constructivism. Through exploration and inquiry, a pupil can understand that is partial to their understanding of their role in the economy through relating to what students know and building an understanding based on observation and experience; knowledge is applied to a global society.
Lastly, I believe that encouragement with positive reinforcement and a relaxed learning atmosphere creates the best results. Tutor Introduction
Teaching Experience
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2013-Present @ The British School of Costa Rica, San Jose, Costa Rica
Teacher and Economics Coordinator
• Teacher of IGCSE and IBDP Economics SL/HL. • Teacher of IBD Business Management SL/HL. • Coordination of curriculum, moderation of assessment, and teacher schedules. • Development of scheme of work and online learning resources for IGCSE and IB syllabi. • Internal exam preparation and quality assurance. • Examinations invigilator and officer (in some cases).
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2010-2013 @ Beijing National Day School, Beijing, China
Teacher and Head of Department
• Teacher of IGCSE and A Level Business and Economics. • Introductory business studies taught to ‘experimental’ class (Jr. 3 – Advanced English). • Developed curriculum and assessment for ‘experimental’ students. • Internal exam preparation, moderation, and evaluation.
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2009 @ Columbia International College, Hamilton ON, Canada
English as a Second Language Teacher
Taught vocabulary and grammar skills with low-level ESL students.
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2008 @ Australian Language Schools, Brisbane, QLD, Australia
English as a Second Language Teacher
• Implemented school-based curriculum to various levels of student ability. • Developed ad hoc lesson plans for Business English, General English, and IELTS Preparation.
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2003-2006 @ Columbia International College, Hamilton, ON, Canada
Teacher and Business Tutor
• Leveraged classroom management skills in self-monitoring position, teaching high school courses in the multicultural environment of international students. • Prepared and delivered lessons for Economics (CIA4U), Organizational Behaviour (BBI10), International Business(BBB4M) and Introduction to Business (BOH4M). • Counseled and coached students to develop learning techniques, study skills, and apply business concepts and motivated students through positive feedback to create a positive learning environment. • Prepared and evaluated tests, exams, and individual student projects.
Education
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Queensland University of Technology- Australia
Graduate Diploma in Education
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McMaster University- Canada
Master of Business Administration
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McMaster University- Canada
Honors Bachelor of Commerce
Teaching Skills
Business Management HL
Business Management SL
Economics HL
Economics SL
Extended Essay (EE)
Internal Assessment (IA)
Diploma Programme
Tutor Blogs
Tutor Teaching Style
I believe that understanding comes from relating to what students already know or can explain. In economics, the normative and positive discussion of economic theory allows students to take what they know (positive) to make assumptions and apply knowledge and theory to what they can evaluate (normative). In short, what a student can understand is just a continuation of what they already know. Skills-based learning will allow pupils to learn and apply knowledge to any scenario or question.
Introduce myself and offer the opportunity for the student to do the same. Create a comfort level to assist in communication and, lastly, determine exactly what the student requires of me as a tutor. Setting goals and sticking to a strategic and transparent approach to work together to reach success.
Students gain independence through confidence and experience. Revise work with students, identify what is done correctly and what needs to be improved, and build skills in the student. Once the assessment objectives are understood, the student will start to apply their knowledge and refine their approach until the assessment objectives are mastered.
Encouragement, empathy, and having the student know and believe that both of us share success. We are working together for the same goal, which is ultimately their success.
Differentiation, variation, and quite simply finding alternative approaches to understanding. This is why it’s important to try and build on what students know already. Finding a relative base of understanding is how we define and direct our understanding of complex or difficult concepts. For skill, the approach is more explanation based on how the student is putting forth their efforts. A diagnostic approach identifies misunderstanding or confusion, causing the barriers before developing techniques to better our practiced skills.
Help students to define terms and discussion-based explanations of the meaning of the prose.
Humour, develop a shared space where pupils can be honest and feel comfortable asking questions at any time. I also find taking a bit of time to build rapport and create a positive dynamic of communication between pupil and teacher helps to explore more difficult topics so that the student is not afraid to attempt new ways of thinking and test their knowledge and skills themselves.
Find out what the student hopes to achieve and ensure them that we will reach these goals together with effort and dedication.
Open answer discussion and ad hoc application through examples. This is very easy in economics with the cause and effect nature of the subject. There are many ways to conduct a formative assessment in many formats, such as Games, quizzes, homework, projects, and presentations.
Being supportive and calm as well as confident in my ability to help them.
Revision, discussion, and if they have work, they can share, taking a look with them in conjunction with assessment criteria (for standardized syllabi) to identify strengths and weaknesses.
By being a dynamic professional and communicating with the student/parents. It’s important to solicit and receive feedback regularly.
PowerPoints, quizzes, digital whiteboard, and models
Tutor Reviews
Tarek from Egypt
Lakshh from Philippines
I worked on my Econ IA with Jon. He was very helpful. He gave me several productive comments on my draft and guided me in the right direction.
Mario from Italy
Philipp from Germany
Mr. Paradis, is an amazing and Helpful Tutor!
Estrella from Spain
Toral from Egypt
Mr. Paradis was extremely helpful with my IA and can explain concepts incredibly well.
Vishnu from India
Jon was amazing and provided insightful feedback during our session. In addition, he also took the time to go through and annotate my IA beforehand to make the most use of our time. I would highly recommend him!
Tairat from Nigeria
He was a great tutor and encouraged me to ask questions. He encouraged us to ask questions and was very thorough in his explanations. He also made the class quite interactive and fun to keep us engaged- 4 hour lessons can be really hard to keep up with.
Yoonseo from Germany
Arpan from Canada
Revision of course content were of high quality, and made me better understand some concepts that I previously struggled with in school or on my textbook. For example, Jon made the concept of credit creation and how commercial banks make a profit, when I previously couldn't get my head around the concept of interest beforehand.
Mario from Italy
The best teacher I’ve ever had in my life, he is so good and cares a lot for his students. I only have good words for this man!
Mikayil from Azerbaijan
Mr. Jon is an amazing tutor, his explanations are extremely clear and understandable. Furthermore, he connects the studying and entertainment at the same time, which makes his lessons very interesting. He helped me to prepare for my Econ exam for 3 hours.
Shinebayar from Japan
Jane from Canada
Jon is an excellent tutor. He covered Macroeconomics calculations and graphs in 5 sessions.
Asra from Germany
The method he uses to teach involves application of concepts into the real world, for that reason everything makes so much more sense!
Ling from Spain
Jon is really wonderful, Enthusiastic and clear, every minute of his class is not wasted。
Tutor Quote
Give a man a fish; you feed them for a day. Teach a man to fish; you feed them for life.
How to complete an effective IB Economics IA Portfolio
By IB ++tutors Jon P.
For the New Syllabus Examinations 2022
Introduction
The IB Diploma Economics course requires a compulsory Internal Assessment that is both an integral part of the course and enables students to demonstrate the application of their skills and knowledge and to pursue their personal interests without the time limitations and constraints associated with the external examinations.
The Portfolio is a requirement of both SL and HL schemes and represents 20% of the overall assessment for SL and 30% for HL. Both SL and HL econ students will produce a portfolio of three commentaries based on articles from published news media.
The 3 chosen articles and corresponding commentaries must focus on a different unit of the syllabus (excluding section 1: Introduction to economics) 2: Microeconomics 3: Macroeconomics 4: The global economy. Each commentary must also focus on one of the 9 Key Concepts of the DP economics course:
scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, intervention
Word Limit
Students must produce a portfolio of three commentaries. Each commentary must not exceed 800 words. Moderators will not read beyond 800 words for each commentary.
The following are not included in the word count.
- Acknowledgments
- Contents page
- Diagrams
- Labels (5 words or fewer)
- Titles on diagrams (10 words or fewer)
- Tables of statistical data
- Equations, formulae and calculations
- Citations (which if used must be in the body of the commentary*)
- References (which if used must be footnotes/endnotes and referenced fully)
*Citations and definitions must be included in the body of the work and are included in the word count.
Rubric Requirements
Each article must be based on a different unit of the syllabus.
Students must use a different source for each commentary.
Students need to look for articles relating to current events and these must be published no earlier than one year before writing the commentary.
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5 Tips for finding a good article
#1. Generally speaking, a big article is not a ‘better’ article, it may provide too much analysis for the candidate and cover multiple topics which reduces the ability to keep focus to key concepts and may require application to too much economic theory to be covered in 800 words. A short concise article focusing on one specific section of the syllabus and a clear connection with one key concept is ideal.
#2. Try to find an article that includes quantitative data that can be included and analyzed in the commentary. This helps with the application and can also be used to convey more meaning and application to the diagrams.
#3. Be sure to use reputable news sources and refrain from choosing opinion pieces and published economic papers. General news should have more layman descriptions and allows the candidate to more easily apply and analyze with economic theory as a criteria of the commentary.
#4. Use news aggregators to search for topics, if one article about a specific topic is too big or lacks focus, there are likely many other articles which depict the ‘real world’ current event you are hoping to cover.
#5. Don’t be afraid to search news outside of your home country (especially for the macro section). There are always plenty of current events pertaining to economics and lastly it is my belief that the longer you search for an ideal article, the easier the writing of the IA itself.
Criteria
See the syllabus for a breakdown of the descriptors for each criterion
| Criterion | Commentary Section | Marks |
| A | Diagrams | 3 |
| B | Terminology | 2 |
| C | Application and analysis | 3 |
| D | Key Concept | 3 |
| E | Evaluation | 3 |
| Total for each commentary | 14 Marks | |
| F (3 marks) | Total for the portfolio (3 IAs) | 45 |
How to score full marks for each Criterion:
Criterion A: Diagrams
A minimum of 2 diagrams should be included in each IA. These need to be constructed by the candidate and should be titled to match the IA specifically and include as much quantitative information as possible. Along with a fully correctly labelled diagram there must be an explanation in the body of the commentary which explains the diagrams fully. Be sure to label and reference intercepts in your explanation.
Criterion B: Terminology
Throughout the IA consistently should have use of economic terminology. Whenever possible economic key terms from the syllabus must be included in your discussion. Also avoid use of vague terms to describe relative change or comparisons, be as specific as possible.
Criterion C: Application and Analysis
The Application criterion is usually not difficult to receive full marks. If the article is about inflation, using a macroeconomics aggregate supply/aggregate demand diagram is correct application; using a macroeconomic diagram for a single market would be inappropriate application. In other words, the correct and appropriate economic theory must be chosen.
It is also important that facts and ideas in the article are referred to with the economic theory. This means that the commentary you write will only apply to that article you chose. Many times students write “generic” commentaries; ones where if you replaced the article with a different article, the commentary would still make sense. These types of commentaries potentially would lose marks on “application” because the student did not apply the economic theory specifically to the article.
Be sure before you write your IA that you plan and identify the economic concepts that you will address. This should be done as part of your selection process for your article.
The Analysis criterion is usually the one most students understand the best on what to do (as they usually have practiced it many times in class), but often a challenging one for two reasons:
Students “over” analyze. They analyze everything in the article, which is not necessary. Part of the reason is the poor choice of article: the article is too long and has too much information. Students can also go off in tangents when analyzing. Make sure that the analysis is on the most important aspects of the economic event and one that will lead to your evaluation.
Students don’t write concisely. Most students have the idea that “longer” is better when it comes to writing and this is completely wrong. You should use the exact words that is necessary to convey what you want the reader to understand. Use professional writing (not like a literature piece or a diary) and avoid unnecessary words. The rule of thumb for unnecessary words is: “if I took out this word, would it make any difference?” If the answer is “no”, take it out.
DO: The demand for contact lens increased because the price of glasses increased in July.
DON’T: As one can clearly and obviously see, the demand for contact lens in the contact lens market increased significantly due to the fact that there was an exponentially high increase in price for glasses in the glasses market one month ago in July.
Analysis is a discussion of the effects of the change or problem identified in the introductory paragraph of your IA. The economic explanation of the advantages and disadvantages of your topic. No evaluation should be presented rather analysis should be used as the evidence to support your evaluation.
Criterion D: Key Concept
Explicitly identify the one of the 9 key concepts in your opening paragraph. This should act as an underlying theme of your discussion. Review your prose and ask yourself it this applies and supports the key concepts with your statements.
Criterion E: Evaluation
Here are some considerations to help you evaluate your article:
- How accurately does the economic theory apply to the article? How does the theory not apply?
- What are the advantages and disadvantages to the economic situation, government’s decisions, firm’s decisions, and other economic solutions/options?
- What are the merit and demerit to the stakeholders? Cost benefit analysis
- To what extent (are there any conditionals?) would the government’s solution work or not work?
- Balanced (both good and bad are presented/ both sides of the story are weighed)
- Weighing alternative solutions.
- Future forecast – what can we expect to see in the future?
- Assumptions on which the theory under considered is based and not based
- Long term and short term consequences/effects
- Prioritize solutions and arguments
- Include any ethical stand that merits consideration with respect to the article
Evaluation is not simply a concluding summary of your previous analysis. You have identified a problem and the evaluation is the effects, solutions and not solely your opinion. Your evaluation must be balanced and presented with reasoning and evidence.
Criterion F: Rubric Requirements
This last criterion is for the portfolio as a whole. 3 points awarded when ensuring:
- Each article is based on a different unit of the syllabus
- Each article is taken from a different and appropriate source
- Each article was published no earlier than one year before writing the commentary
20 Topic Ideas for Economics IA
This Blog Post is Written By our IB ++ Tutor Jon P.
In choosing an IA topic you may be limited to the availability of articles with what is described in a ‘real world situation’. In searching for topics this list may be of assistance. It is important to remember that each IA must be done on a different section of the course (Microeconomics, Macroeconomics and The Global Economy) as well as each IA must connect to a different key concept: scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence and intervention.
Microeconomics:
Change of price in a market: A price change originates from a shift in demand or supply.
1. Change in demand: A change in demand will either raise market price from an increase in demand or lower market price from a decrease. An easy diagram showing the initial change is possible, but you may want to include a discussion on how firms will respond with an extension/contraction in supply raising/lowering Qm. Identify what causes the price change by effectively explaining in context of a non price factor affecting demand. Address new market outcomes for analysis and effects on stakeholders for evaluation. - a good example would be the world’s sudden increase in demand for PPE in the wake of the Covid19 Pandemic.
2. Change in supply: A change in supply is more likely to be newsworthy and will show the effect on market price. Oil is a market that often sees price change due to changes in supply. Similarly to changes in demand you should identify and show the shift attributing it to non-price factors affecting supply and how consumers respond to the price change as well as effects on stakeholders.
Government Intervention: Often the government intervenes to adjust market outcomes for Pm and Qm.
3. Indirect Tax: Often a specific product will have tax levied on it. Identify the type of tax (excise or ad valorem) and market outcomes for analysis. A discussion of elasticity is warranted with the burden of taxation. Diagrams should show the effect of the regressive indirect tax on Pm and Qm which allows for analysis on the effects on stakeholders. Be sure to include the firm’s change in revenue and potential effects on employment (as Qm is reduced) as well as identifying the government revenue in your diagram. For HL students a discussion of changes in consumer and producer surplus should be connected to the effects on stakeholders. Also, you should identify in a graph the presence of welfare loss.
4. Subsidy: Often governments use subsidies to intervene and lower prices for essential goods or services. In these cases, the government will attempt to better redistribute income through making products more affordable to low income consumers. Graphs will show the effect on Pm and Qm. The second graph should focus on the change in consumer and producer surplus as well as potential welfare loss. Be sure to note the change in revenue and output for the producer and gain in employment for the industry. You can also note the effect on government spending in connection with the welfare loss.
Market Failure:
5. Correction of negative externality: The presence of market failure is almost always tied to the application of tax. Explain the tax is trying to “solve” by seeing a reduction in Qm. The difference between this analysis and a lone tax IA is that allocative efficiency has been gained (theoretically) where Marginal Social Benefit equals Marginal Social Cost. Your diagrams should show initially the market failure where Qm > Qopt (optimal output with allocative efficiency) and in the second how the tax should lower Qm until (possibly) Qopt is reached. Be sure to identify whether the negative externality is consumption or production. Effects on individual stakeholders should be the same as analysis of an indirect tax however society should be better off as a whole. A common news article includes taxes placed on demerit goods. This should be outlined in the intro how the specific product produces the negative externality.
6. Correction of positive externality: In the case of subsidy or direct provision, this would be a correction for a positive externality, (shown often these days with eco-friendly products supported by governments) underprovided through the efficiency of the price mechanism and should see an increase in Qm. Diagrams (similar to above) should show the market failure where the product is underprovided by the market where Qopt>Qm and how the subsidy (or direct provision) will increase Qm gaining allocative efficiency where the new Qm is greater and providing society with more products at a lower price.
7. Monopoly: A potential topic may be a news story regarding the existence of a monopoly. Although theory of a firm topics are rare to find and further to this, rare to keep enough focus for an IA, a monopoly is easily analyzed under the context of market failure and the need for regulation. Be sure to identify that the firm is not creating allocative efficiency (in the private sector) and what regulatory measures (intervention) could and should be done to improve the situation for consumers and society at large.
8. Competitive Markets: Though not as commonly found, there are plenty of diagrams and opportunities for application to the entrance or exit of firms in a competitive market. For example, if a firm is in the news from closing down a candidate could show the cause of this using a theory of a firm diagram where normal profits are not being achieved, in fact loss is occurring and it could then be proposed that the losses in the short run has caused the firm to exit the industry. As this happens, demand for the remaining firms should increase (as market share is gained) and market price should also rise with the reduction of firms, shown in the market diagram. Be sure to include a full explanation of diagrams and mention the inefficiency of the market through individual firms not producing where P=MC. Though the topic could be used, it may prove difficult to analyze the article within the 800 word limit.
Macroeconomics Topics: One can often find articles suggesting recessionary or inflationary gaps. With these as themes there is plenty of application with the topics below.
9. Economic Growth: A rise in GDP will be newsworthy. Be sure its quantified and for an entire macroeconomy (country). Be aware that this could come from a quarterly measurement and possibly applied to an annual trend, this could still be analyzed however needs specification. As real GDP rises, so should GDP per capita creating an increase in economic well-being. Analysis and evaluation could discuss potential demand pull inflation and the economy overheating. Be sure to mention also effects on the government budget (potential surplus).
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10. Negative Economic Growth (recession): A fall in GDP could potentially cause a recession, but be careful as a recession is negative growth for 2 consecutive quarters (6 months). Negative economic growth would create a recessionary gap where unemployment rises and output (Y) falls below Yp. A discussion of falling incomes, tax revenue and output would suffice for analysis and there are many options to suggest how to correct this recessionary gap and regain full employment equilibrium at Yp.
11. Changes in Unemployment: You can search worldwide and find any country that’s experiencing a significant change in the unemployment rate. Your discussion should be relative to the full employment level of output at Yp and evaluation could include methods the government may undertake to improve unemployment. Large rises in unemployment should correlate with negative economic growth and a decrease in economic well-being as well as deflation from the monetarist model (in theory).
12. Demand Pull Inflation: A sign of an overheating economy where too much money is demanding too few products. Be sure to show the actual output beyond Yp and show the effects of scarcity causing prices to rise. Its better to use a Keynesian model in this case. Though there is increases in output, inflation reduces purchasing power and makes most people worse off as incomes rarely rise universally with increases in GDP
13. Cost Push Inflation (Stagflation): A very bad type of inflation pushing the economy (potentially) into a recessionary gap. It would be crucial to explain the cause (often from a supply shock) and show, using the Monetarist model, a leftwards shift of the SRAS curve. You will need to discuss how the economy will “correct” itself under this model and regain Yp, with long run price level Increasing. The solution to this is likely in the context of supply side policies aswell as contractionary monetary policy in an attempt to cool off spending, but remember that this is historically caused by increases in commodity prices, for example oil.
14. Topics dealing with Income Equity: Be careful with this topic as it would involve changes in income tax rates. Effectively you must discuss outcomes and effects on equity and economic well-being. But be careful that your article doesn’t do the analysis for you.
15. Discretionary Demand Side Policy: Any change in tax or significant increases in government spending (such as capital projects) would qualify as fiscal policy and presumably used to close an output gap and resume full employment equilibrium. It is important to identify the output gap that the policy is addressing and evidence of said gap. You can speculate on the outcome for stakeholders and provide alternative options for the government to assist in regaining Yp.
16. Monetary Policy: Any change of a country’s base or prime lending rate is considered monetary policy. Be sure to identify an increase in rates as contractionary and a decrease in rates expansionary. The purpose of the change is usually connected to inflation targeting and keeping slow and steady economic growth. However, increases in interest rates are also commonly used to fight inflation by ‘cooling off’ consumer spending and private investment as components of AD. In any case the effects (before and after) are easily shown in diagrams and alternatives may be suggested in the evaluation.
The Global Economy: There are always articles easily found under international trade. Also it is usually required to finish the IAs within a timeframe for submission and moderation so the topics on development may come too late.
17. Protectionism: Trade protection is always in the news (more so in recent years) in the form of Tariffs and import quotas. There are easy diagram marks to be had with the static tariff diagram and plenty of effects on the interdependence of various stakeholders to analyze and evaluate. Be sure to note effects on balance of trade and potential effects on foreign exchange rates in your analysis.
A note of advice is to avoid speculative articles regarding potential exits from trade groups such as Brexit for the last few years. These are very hard to predict outcomes and I would recommend they are avoided.
18. Foreign Exchange: In some cases a change in foreign exchange rates may be worthy of discussion. If a large change is seen, graphs are easy to use and outcomes on balance of trade and stakeholders are easily identified. Be sure to recommend what the central bank could do to mitigate any negative outcomes through intervention.
19. Export Develoment: Its possible to find local news in a country where a country is supporting a specific industry through lowered taxes or subsidies. This may be to protect what is known as an infant industry and support export growth for the purpose of helping the balance of payments, GDP and employment. Easy analysis through a market diagram in the context of export markets and it is important to compare to other countries in terms of competitiveness. Be sure to include outcomes for AD (economic growth)
20. Economic Development: Any article that can identify overall increases in standards of living may be examined under the topic of economic development. This connects directly to economic well being. Typical topics include: investment in capital (human and physical) foreign aid, foreign assistance, micro finance. These topics, though found in the syllabus, are difficult to expand evaluation on the economic well being of a nation beyond speculation as to how funds could be used.
How to complete an effective IB Economics IA Portfolio
By IB ++tutors Jon P.
For the New Syllabus Examinations 2022
Introduction
The IB Diploma Economics course requires a compulsory Internal Assessment that is both an integral part of the course and enables students to demonstrate the application of their skills and knowledge and to pursue their personal interests without the time limitations and constraints associated with the external examinations.
The Portfolio is a requirement of both SL and HL schemes and represents 20% of the overall assessment for SL and 30% for HL. Both SL and HL econ students will produce a portfolio of three commentaries based on articles from published news media.
The 3 chosen articles and corresponding commentaries must focus on a different unit of the syllabus (excluding section 1: Introduction to economics) 2: Microeconomics 3: Macroeconomics 4: The global economy. Each commentary must also focus on one of the 9 Key Concepts of the DP economics course:
scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, intervention
Word Limit
Students must produce a portfolio of three commentaries. Each commentary must not exceed 800 words. Moderators will not read beyond 800 words for each commentary.
The following are not included in the word count.
- Acknowledgments
- Contents page
- Diagrams
- Labels (5 words or fewer)
- Titles on diagrams (10 words or fewer)
- Tables of statistical data
- Equations, formulae and calculations
- Citations (which if used must be in the body of the commentary*)
- References (which if used must be footnotes/endnotes and referenced fully)
*Citations and definitions must be included in the body of the work and are included in the word count.
Rubric Requirements
Each article must be based on a different unit of the syllabus.
Students must use a different source for each commentary.
Students need to look for articles relating to current events and these must be published no earlier than one year before writing the commentary.
Complete this form and we’ll match you with a Tutor to help you master your EE!
Serving Worldwide
5 Tips for finding a good article
#1. Generally speaking, a big article is not a ‘better’ article, it may provide too much analysis for the candidate and cover multiple topics which reduces the ability to keep focus to key concepts and may require application to too much economic theory to be covered in 800 words. A short concise article focusing on one specific section of the syllabus and a clear connection with one key concept is ideal.
#2. Try to find an article that includes quantitative data that can be included and analyzed in the commentary. This helps with the application and can also be used to convey more meaning and application to the diagrams.
#3. Be sure to use reputable news sources and refrain from choosing opinion pieces and published economic papers. General news should have more layman descriptions and allows the candidate to more easily apply and analyze with economic theory as a criteria of the commentary.
#4. Use news aggregators to search for topics, if one article about a specific topic is too big or lacks focus, there are likely many other articles which depict the ‘real world’ current event you are hoping to cover.
#5. Don’t be afraid to search news outside of your home country (especially for the macro section). There are always plenty of current events pertaining to economics and lastly it is my belief that the longer you search for an ideal article, the easier the writing of the IA itself.
Criteria
See the syllabus for a breakdown of the descriptors for each criterion
| Criterion | Commentary Section | Marks |
| A | Diagrams | 3 |
| B | Terminology | 2 |
| C | Application and analysis | 3 |
| D | Key Concept | 3 |
| E | Evaluation | 3 |
| Total for each commentary | 14 Marks | |
| F (3 marks) | Total for the portfolio (3 IAs) | 45 |
How to score full marks for each Criterion:
Criterion A: Diagrams
A minimum of 2 diagrams should be included in each IA. These need to be constructed by the candidate and should be titled to match the IA specifically and include as much quantitative information as possible. Along with a fully correctly labelled diagram there must be an explanation in the body of the commentary which explains the diagrams fully. Be sure to label and reference intercepts in your explanation.
Criterion B: Terminology
Throughout the IA consistently should have use of economic terminology. Whenever possible economic key terms from the syllabus must be included in your discussion. Also avoid use of vague terms to describe relative change or comparisons, be as specific as possible.
Criterion C: Application and Analysis
The Application criterion is usually not difficult to receive full marks. If the article is about inflation, using a macroeconomics aggregate supply/aggregate demand diagram is correct application; using a macroeconomic diagram for a single market would be inappropriate application. In other words, the correct and appropriate economic theory must be chosen.
It is also important that facts and ideas in the article are referred to with the economic theory. This means that the commentary you write will only apply to that article you chose. Many times students write “generic” commentaries; ones where if you replaced the article with a different article, the commentary would still make sense. These types of commentaries potentially would lose marks on “application” because the student did not apply the economic theory specifically to the article.
Be sure before you write your IA that you plan and identify the economic concepts that you will address. This should be done as part of your selection process for your article.
The Analysis criterion is usually the one most students understand the best on what to do (as they usually have practiced it many times in class), but often a challenging one for two reasons:
Students “over” analyze. They analyze everything in the article, which is not necessary. Part of the reason is the poor choice of article: the article is too long and has too much information. Students can also go off in tangents when analyzing. Make sure that the analysis is on the most important aspects of the economic event and one that will lead to your evaluation.
Students don’t write concisely. Most students have the idea that “longer” is better when it comes to writing and this is completely wrong. You should use the exact words that is necessary to convey what you want the reader to understand. Use professional writing (not like a literature piece or a diary) and avoid unnecessary words. The rule of thumb for unnecessary words is: “if I took out this word, would it make any difference?” If the answer is “no”, take it out.
DO: The demand for contact lens increased because the price of glasses increased in July.
DON’T: As one can clearly and obviously see, the demand for contact lens in the contact lens market increased significantly due to the fact that there was an exponentially high increase in price for glasses in the glasses market one month ago in July.
Analysis is a discussion of the effects of the change or problem identified in the introductory paragraph of your IA. The economic explanation of the advantages and disadvantages of your topic. No evaluation should be presented rather analysis should be used as the evidence to support your evaluation.
Criterion D: Key Concept
Explicitly identify the one of the 9 key concepts in your opening paragraph. This should act as an underlying theme of your discussion. Review your prose and ask yourself it this applies and supports the key concepts with your statements.
Criterion E: Evaluation
Here are some considerations to help you evaluate your article:
- How accurately does the economic theory apply to the article? How does the theory not apply?
- What are the advantages and disadvantages to the economic situation, government’s decisions, firm’s decisions, and other economic solutions/options?
- What are the merit and demerit to the stakeholders? Cost benefit analysis
- To what extent (are there any conditionals?) would the government’s solution work or not work?
- Balanced (both good and bad are presented/ both sides of the story are weighed)
- Weighing alternative solutions.
- Future forecast – what can we expect to see in the future?
- Assumptions on which the theory under considered is based and not based
- Long term and short term consequences/effects
- Prioritize solutions and arguments
- Include any ethical stand that merits consideration with respect to the article
Evaluation is not simply a concluding summary of your previous analysis. You have identified a problem and the evaluation is the effects, solutions and not solely your opinion. Your evaluation must be balanced and presented with reasoning and evidence.
Criterion F: Rubric Requirements
This last criterion is for the portfolio as a whole. 3 points awarded when ensuring:
- Each article is based on a different unit of the syllabus
- Each article is taken from a different and appropriate source
- Each article was published no earlier than one year before writing the commentary
