Guide to Internal Assessment in Economics

The IA is 30% of SL final grade and 20% of HL final grade.

Total Points for Portfolio: 45
A portfolio consists of three commentaries based on news articles.

Each commentary is worth 14 points. 3 additional points are awarded for following additional
requirements:

a) The three articles must each relate to a different part of the syllabus- microeconomics,
macroeconomics, and the global economy.
b) Each article must be from a different source and published no longer than 12 months before the
commentary is written. (The article should not be more than two pages when copied and pasted
into Word in standard format. If an article exceeds two pages, sections of the article to be
commented on must be highlighted and the highlighted area must not exceed two pages.)
c) Each of the three commentaries must be 800 words or less and use a different key concept to
analyze and evaluate the news articles.

The Role of The Teacher:

1. Approving the article for commentary
2. Making Comments on Rough Draft
3. Assessing Final Draft (See Subject Guide for Assessment Criteria)

Class time allocated for searching article and writing rough draft:

7 periods per commentary allocated between article search and writing rough draft.
The final draft will be completed outside of class.

Step One: Finding an Article

1. Use targeted search terms- “cigarette tax Australia” “interest rates India” “tariffs China”
2. Use the Google ‘news’ filter. Make sure the article is a news article, not an editorial opinion, blog
or research report. News sources must be in English (The Guardian, BBC, CNN, etc.)
***Avoid the Economist, Financial Times, Bloomberg, Forbes and other business/economic-
focused sources as they generally provide economic analysis, which takes away your ability to
score points by doing so.
3. Read the article and answers the questions in the article selection checklist.
4. Submit article proposal

Article Selection Checklist:

Microeconomics:
1) Is there evidence of market failure or changes in non-price determinants of demand/supply?
2) Is there evidence of government intervention?
3) Can I explain the article using diagrams?
If you can answer yes to at least two of the three of questions then you likely have a usable
article.

Macroeconomics:
1) Is there a macroeconomic problem (recession, unemployment, inflation, inequality)?
2) Is there a government fiscal, monetary, or supply-side policy to fix a problem or achieve a
macroeconomic goal?
3) Can I explain the article using diagrams?
If you can answer yes to at least two of the three of questions then you likely have a usable
article.

The Global Economy:

1) Is there evidence of an increase or decrease in trade barriers?
2) Is there evidence of a change in the value of a currency?
3) Is there a factor that might affect development positively or negatively?
4) Can I explain the article using diagrams?
If you can answer yes to at least two of the four of questions then you likely have a usable
article.

Step two: Selecting the Key Concept

Most articles will have a connection to several key concepts. Use the one you are most comfortable
using. You need to be able to explain the link between the key concept and your article.
See Subject Guide for list of concepts and applications.

Step 3: Submit for your article proposal

1. Submit a single Word or PDF file with the following information.

a) Title of article
b) source of article (according to MLA bibliography form)
c) date published
d) brief summary
e) description of diagrams to be used in commentary
f) key concept to be used and explanation of the link to your article

Sample Proposal:
a) Title of article: Cigarette tax hike takes effect in California, costs surge by $2 per pack
b) https://www.washingtontimes.com, The Washington Times. “Cigarette Tax Hike Takes Effect in
California, Costs Surge by $2 per Pack.” The Washington Times,
www.washingtontimes.com/news/2017/apr/1/cigarette-tax-hike-takes-effect-california-costs-s/.
Accessed 4 Jan. 2022.
‌c) date published: April 1, 2017
d) brief summary: The state of California has increased taxes on cigarettes in order to reduce
smoking rates. The tax will generate an estimated 1.4 billion dollars in revenue, which may be used
to fund efforts to reduce smoking rates and correct market failure.
e) diagrams to be used in commentary: negative externalities of consumption of cigarettes, indirect
tax on negative externalities of consumption with government revenue highlighted, diagram
showing the effects of anti-smoking campaigns
f) key concept: The article relates to the concept of intervention because it highlights the ability of
the government to influence economic decision-making of consumers and producers to achieve its
goals, and has consequences for market stakeholders.
Writing the Rough Draft:

***See the Sample Commentaries***

1. Start with your introduction, stating briefly what the article is about, introducing your key
concept and the focus of your discussion.

2. Draw the diagram(s)

After your introduction you should draw your diagrams. These should be given a title and be fully
labeled. None of this is included in your word count.

Labeling Tips:
A full title such as, 'The effects of alcohol consumption in the UK'

Label each axis and each line or curve. Do not simply write price and quantity, write specific prices
and quantities if included in the article.

In complex diagrams you might also find it useful to allocate a letter to key intersection points. This
will make it easier to refer back to them later in your explanation.

3. Insert diagrams and explain

This is where you apply and analyze the article using economic concepts (use your key concept
often) and theories. Start from the basis that you are trying to explain theory and your diagram to
somebody who is not an expert in the subject. Describe the changes in the diagram step by step,
making connection to the article when possible.

4. Evaluation
This may be integrated into your analysis or separated into new paragraphs. The textbook can be
used a general guide to evaluation but try to make points that are most relevant to information given
in the article and your key concept. (Quotes from the article can be useful here).
Submitting Rough Draft:
This rough draft has 3 main parts, which are all submitted in one single PDF file.
a) cover page (see the sample commentaries)
b) text of the article
c) your commentary
* All formatting, text font and size must be uniform.
*Submit a single PDF file named: last name_ first name_ section of syllabus_ draft
(Burnett_Sam_1_draft)

All text, with the exception of headings, should be same font and size (12 pt and Times New
Roman) , and double or 1.5 spaced.

Submitting Final Draft:

Same as above except for file name: last name_ first name_ section of syllabus_final
(Burnett_Sam_1_final)