Deadlines (For the First Draft of Each Piece)

1/11

Internal Assessment for IB 2013 - 2015

Deadlines (for the first draft of each piece):

Nr 1: Nov/Dec 2013

Nr 2: Mar/Apr 2014

Nr 3: Nov/Dec 2014

IA sent to examiner in March 2015

• Every candidate has to complete an economics portfolio that contains three economic ‘commentaries’ each of which is under 750 words.

• The portfolio is worth 20% of the final grade for all students.

• The commentaries should cover at least three distinct areas of the syllabus.

• The articles must be from within the last 12 months of the time of writing.

• The three articles must come from threeseparate sources.

• Your commentary should apply your economic knowledge learnt during the course to the real-world example discussed in the article.

• Don’t take the first article that you find, read it and read it again. Jot down the theory and diagrams you think would be appropriate, if these ideas jump straight out at you will be along the right lines.

• Short articles are often the best. Long in-depth articles can prove problematic in terms of picking the most appropriate theory.

• Complex journal articles or specialist magazine articles are to be avoided; sometimes the analysis required for an effective commentary is beyond the scope of the syllabus. For example the Economist basically does most of the evaluation already – you get zero marks for regurgitating the work of others.

• Don’t simply summarize the article; use it as a trigger to explore economic theory, that you think is more appropriate, in more depth.

• Use diagrams wherever possible and make your diagrams applicable to the media article in question i.e. use the price of tea, quantity demanded of tea if looking at an article on tea prices!

• Standardize your pieces. Make sure the presentation of your three commentaries is formatted in the same way.

• Use the cover sheets provided on P-drive!

• Read the rules and IA marking criteria found in the econ syllabus on P-drive.

ECONOMICS INTERNAL ASSESSMENT

Guided coursework

Below you will find the complete “how/what/when” of internal assessment in IB economics. If you follow the instructions to a “T” then you stand a fair chance of doing well. If you digress from the rules and regulations in any way you may rest assured that you will pay a price.

RTFI!!!

The objective/purpose

During a 1½ year period, the student is to write three commentaries (= analyses) on newspaper/ magazine articles - “extracts” in IB-ese. These sources include any newspapers/magazines, Internet articles etc.

Examples are Newsweek, Financial Times, Times, International Herald Tribune, The Economist, The European and Time Magazine. Virtually any publication is acceptable – as long as it is in English or Spanish. You may also use the Internet – as long as the complete URL is included.

Rules:

1)Each of the three commentaries must be under 750 words. No more.

2)The extracts (= articles) must be from three different sources.

3)You are not allowed to use articles that are older than one year.

4)The article can be in any language – but I STRONGLY urge you to write in English!If you use a different language then you must translate the entire article.

5)The analysis must deal with economics – not business! Use the concepts, theories and models that we use in class.

6)You should not use any concepts or models that we have not completed via a written test.

7)You may not ask me anything along the lines of “How should I write this…?”. Instead, heed the advice I give you on your feedback copy and make sure version nr 2 is brilliant.

Tips:

1)Avoid articles where the analysis is already done for you. You get no points for simple re-iteration of someone else’s analysis.

2)Don’t pick overly complicated issues – there’s nothing wrong with applying your acumen and economic knowledge to day-to-day issues, such as why the municipality wishes to make public swimming pools available by lowering price of admission.

3)It is generally more fruitful to chose a relatively brief article (not too brief!) and build up a structure of economic arguments, rather than to choose a long article and comment generally on a few definitional points. Do NOT use the small “notices” that newspapers often put in the margins or the “Commodity Price updates”. Use proper articles.

4)Put some time and effort into finding and picking out articles – this is half the battle! Try to stay within a single section of the IB syllabus – don’t skip around in four different sections. (This can be impossible sometimes, but do try.)

Format requirements

1)Each candidate is required to select 3 articles (extracts) and prepare 3 commentaries.

2)Commentaries approximate 700 words each; minimum of 650 words and maximum of 750 words.

The following are NOT included in the word count:

• diagrams
• labels (of five words or fewer) and headings in diags
• tables of statistical data
• equations, formulae or calculations
• citations (which must be in the body of the commentary – not footnoted)
• references (which should be in the footnotes)

3)Each commentary heading on first page must include your name, class, date of article, date written, commentary number in “1/4, 2/4…” format, source, school name, article title, a word count and syllabus section. (Refer to the example at the end.)

4)Commentaries can be word-processed or hand-written. I recommend word-processing.

5)You must focus on concepts/theories/models from at least three of the IB syllabussections 1 to 4 – in other words, commentary no 1 can be from Section 2; commentary no 2 from Section 3, no 3 from Section 4. Any diversion from this will render you zero marks on criterion F – and severely disadvantage you in all other criteria.

6)All articles must be referenced, i.e. a source must be given. If the Internet is used to select the extract, then the above reference system must be used to identify the original source. Any reference to the Internet should also cite the Uniform Resource Locator (URL), e.g.

Rules:

1)You may not write more than 750 words. If you do then you score 0 (zero, nada, zip, nichts) on Criterion F.

2)Only commentaries are included in the word count – the article and an eventual abstract are excluded from the word count.

3)You are to hand in each script twice – the first one I scribble on in red ink (I us a roller, mostly) and give back to you for re-writing and final submission. You must save a clean copy of each final submission!!!

4)If you hand in any script after the deadline you get no feedback whatsoever. Trust me, you will need the feedback.

5)You mustsave all the returned scripts– complete with my notes – as I will need the material for the IB. Get another binder people.

Wordings

Extract = what has been cut/copied from the journal.

Commentary = your analysis, in English.

Script = extract + commentary

Abstract = translation of the extract if the article is in another language than English. Note; this is a word for word translation.

Portfolio = the sum of your scripts, i.e. 3 scripts.

Rules:

1)Write only on one side on first submission. On the copy for second submission, use both sides of the paper to write on. Keep the amount of pages down, as we have to send these off for external moderation and it costs us dearly.

2)Use the “1/2” or “1(2)” system of page numbering.

Tips:

1)If you have difficulties in drawing diagrams on the computer, simply leave them out and do them by hand afterwards.

2)However, learn to use MS Word’s diagram option (go to insert -> picture -> new drawing)

Grading criteria

The 3 commentaries making up your portfolio will be graded according to six criteria, the sum of which is 45 marks.

Important notes: Your 3 scripts make up your IA portfolio. Your grades are given for each script and then an additional 3 marks for the portfolio as a whole.

How to write your commentaries

Each commentary should

-explain the linkages between the extracts and economic principles (economic theory)

-use well-commented, well-labeled and well-incorporated diagrams to illustrate and support your iteration

-demonstrate economic insight into the implications of the extract, i.e. it should provide evidence of an ability to look at current events from the particular point of view of an economist

-basically show that you can explain and put into context the complexities of real life by way of using the language and symbols of an economist

Note that criterion E is the most difficult to attain. Here are a few start-up phrases (like a catalyst) to help you in the right direction:

1) “….on the other hand…”

2) “…however, in the SR/LR…”

3) “…the most relevant/important issue here is…”

4) “…in practice, the theory will not hold, since…”

5) “…this theory/idea/policy is often criticised on account of…”

6) “…the author is clearly writing from the vantage point of Keynesian/monetarist assumptions…”

7) “…it is unlikely that the scenario outlined in the article will take place, since…”

Timetable

We will go through the preliminary time schedule below together and find appropriate specific dates for hand in.

Date Script number

Feb‘12 IB1 No 1

May‘12 IB1No 2

Nov ’12 IB2 No 3

Finally:

On the last page I have included a standard format for your scripts. DO NOT DEVIATE FROM THIS FORMAT! Again, you must use the standard front page format that I have provided.

Do not leave your commentaries or article-gathering ‘till the last moment. Last minute rush jobs are invariably of poor quality and as these scripts account for 20% of your total grades, the question you have to ask yourself is whether you feel it’s worth screwing around with.

Use the feedback I give you in order to do better. You get 3 chances to prove your worth as economists – do not squander them. Use the introductory IA hours in class to get a grip on how grading and evaluation is done. I will copy some previous scripts for you to judge and I will also give you my own assessment.

Go for it!

Matt

Here is EXACTLY what your guided coursework commentary must look like:

Page 1(2)

COMMENTARY COVERSHEET

Economics commentary number 1/3

Candidate name & number: Jim Henson, nr 0369-003

School code: 0369

Title of extract: “Big Bird on the FBI’s most wanted list – interest rates soar”

Source of extract: Financial Times

Date of extract: 11.Aug.’13.

Word count: 710 words

Hand-in date: 12.Nov.’13

Syllabus sections relating to commentary: Sections 3.2 & 3.3

Guided coursework no 1/3 Economics Page 2(2)

Extract (entire article)

Abstract

(This is a translation of the article – applicable only if the extract is in another language but English. This is a word-for-word translation.)

Commentary

The main issue facing the American Federal Reserve (Fed) is whether or not the ensuing terror attacks against public figures are going to have a dampening effect on an already declining economy. The article brings up the issue of “pressure on prices” (see (*A*) above in highlight). According to the original Philips curve (fig. 1) blablablablablablabla….

Fig 1: Unempl.

As the interest rate rises, blablablabla blablablablablablablabla… on ‘till you hit 749words.

************************End example**********************************

Here are a few additional avuncular titbits I have slapped previous pupils in the face with over the years upon returning their scripts:

Take care in writing good/correct titles to your diagrams.

Use the method “1/2” or “1(2)” when numbering your pages. Remember, I send your scripts off to be externally moderated and we want to make things easy for them!

Make sure that your diagrams are neat, numbered and well referred to in the text and not simply left hanging. This makes it easier to refer to them in the text.

Have someone check all the formalia – it is very easy to become “blind”.

Underline, frame or in some way highlight the passages in the article which you are using in your commentary – number these passages so you can refer to them if necessary.

Do NOT use information or figures from any other source than the article being dealt with

NEVER INVENT NEW EXCITING DIAGRAMS! It has NEVER worked and all that happens is that I pour red ink all over your iteration. There is virtually 100% correlation between the weakness of a students capabilities in economics and the propensity to be really clever and inventive in diagrams. The halls of learning are littered with the bleached bone of such space cadets. Use only diagrams we go through in class and you will be safe.

You may NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, NEVER, use RED INK!!![*]

Save all the copies that I hand back to you drenched in blood red ink. Put them neatly in a binder and be prepared to re-submit them upon demand.

I have included the list of criteria (see above) that will be applied to your scripts. Use this as a check-list before running off to the copying machine and you will do fine.

[*] “Red” is defined as “red”, “pink”, “purple”, “mauve”, “orange”….basically anything resembling red.