Here are the follow up inputs:

WHAT?

A PORTFOLIO =Three commentaries of less than 800 words each

One 3/CSE form (Coversheet)

Each commentary is a piece of writing that interprets, analyzes, and evaluates based on a
different key concept. (One of the 9 key concepts)

(Scarcity, choice, efficiency, equity, economic well-being, sustainability, change,

interdependence, intervention)

 The commentary is based on a real-life economic article no more than a year old.
 Articles must be selected pertaining to 3 of the 4 sections of the syllabus
(microeconomics, macroeconomics, The global economy).
 Each commentary uses diagrams (which you construct) and analyzes and evaluates
the article using economic theory students learned.
 The portfolio is 30 % for SL and 20% for HL of the overall IB Economics grade.
 The portfolio is graded by the teacher, then it will be moderated by the IB. The final
results will come out during the summer break

HOW?

Criterion related......each criterion is decoded with an example.

There are five internal assessment criteria for each commentary.

Criterion A: Diagrams

This criterion assesses the extent to which the student is able to construct and explain diagrams.

Relevant, accurate and correctly labelled diagram(s) are included, with a full explanation.

Criterion B: Terminology

This criterion assesses the extent to which the student uses appropriate economic terminology.

Economic terminology relevant to the article is used appropriately throughout the commentary.

Criterion C: Application and analysis

This criterion assesses the extent to which the student recognizes, understands, applies and analyses
economic theory in the context of the article.

Relevant economic theory is applied to the article throughout the commentary with effective economic
analysis.

Criterion D: Key concept

This criterion assesses the extent to which the student recognizes, understands, and links a key concept
to the article.

A key concept is identified and the link to the article is fully explained.
Criterion E: Evaluation

This criterion assesses the extent to which the student’s judgments are supported by reasoned
argument.

Judgments are made that are supported by effective and balanced reasoning.

Criterion F: Rubric requirements

This criterion assesses the extent to which the student meets the three rubric requirements for the
complete portfolio.

• 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 the writing of the commentary

Example of template:

1.Commentary no: 1/2/3. HL/SL

2.Title of the article

3 URL including the date the article was accessed online or name of the course of the article
if the article was from a hard copy of a newspaper.

(Include the original article and its translation if the article is in a language other than the
medium of instruction/examination)

4 Date the article was published.

5 Date on which the commentary was written:

6.Section to which the article relates: Micro. or macro. or The Global economy.

7. Key concept: intervention

8 Word count: 800

__________________________________________________________________________________________________
___________

Start the commentary after drawing a line below these 8:.......

Introduction

Identifying /mentioning / explaining the key concept selected

Explanation of economic theories based on issues

Application of diagram with full and complete explanation

Providing analysis and examples

Evaluation of issues / points / discussions

Conclusions

What is meant by “application”?

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.
 How should I analyze?

The Analysis criterion is usually the one most student 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:

1. 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.
2. 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.

The commentary should explain things logically and not in the order of the criteria
(terminology, diagram, analysis, evaluation). It is a common to first define the words, then
analyze, and then conclude with an evaluation. But such order may not always be (it usually
is not) logical.

DO: DON’T

The demand for contact lens
increased because the price of
glasses increased in July.
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.
 How should I evaluate?

Evaluation IS:

 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.
 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

The commentary is a formal piece of writing and must use simple economic language
consistently

Evaluation is NOT:

 your opinion (“I think this will happen….” “I don’t think this is a good idea…”)
 a concluding paragraph of the commentary.
 presented without reasoning and evidence.
 one sided