1/5
Checklist for IA in economics
If you follow this checklist during your writing of both the first and second draft, it is
basically impossible to fail. Below I have cut in the IB grade criteria (A to E) and added my
own comments in the form of:
a) What the criterion means in plain language
b) What you are expected to do
c) How to get full marks
What the criterion means: You are being assessed as to your ability to construct and use
diagrams to explain/analyse the article content.
What you are expected to do: Relevant, accurate and correctly labelled diagrams are
included, with a full explanation.
How to get full marks:
 Drawing the diagrams:
o Use at least two, fully-labelled diagrams
o The diagrams are chosen for their clear links to the article content
o The diagrams use correct metrics – i.e. if the art is about oil, the P-axis uses
“P/barrel (USD)” or “P/pack in €” for cigarettes in Finland.
o There is a full title, i.e. “North Sea Oil during 2009”
o All curves are labelled, (i.e. “S0…S1”) and all prices and quantities are given
on the P and Q axes – including “dotted lines” from curve intercepts to axes
o Any areas/shapes or distances (such as consumer surplus or excess demand) in
the diagrams are clearly shaded or pointed out
o Shifts of curves are accompanied by clear arrows
o Precise prices and/or quantities give in the article are used in the diagram to
the extent possible
 Using the diagrams:
o Shifts, areas, changes in prices…etc that are relevant to your explanation are
clearly pointed out in the text
o Your explanation makes sense to an educated non-economist
o You show/explain the scenario in a step-by-step manner and indicate changes
with ‘a to b’ or such in the diagram
2/5
What the criterion means: This assesses whether you are using correct terms, concepts,
models or theories.
What you are expected to do: Define and use correct terms that are related to the article and
particularly the excerpts highlighted.
How to get full marks:
 Check that you have defined core terms that are central to your article. This is usually
around 3 – 5 core definitions. Put these in parentheses and be brief.
 Use economic terms whenever possible, i.e. “sub-optimal” rather than “bad”
 Use terms correctly, i.e. “…increase in quantity supplied due to an increase in
demand…” and not “…increase in supply…”
 Make sure that your terms are clearly linked to the article content. Do not simply use
terms wantonly – they must deal with what is stated in the article.
What the criterion means: Here the marks are awarded when you are not only using the
correct terms…you are using the terms correctly. The assessment gauges whether you
recognize/understand which terms are to be used in the context of the article content and
whether you clearly understand the information in the article.
What you are expected to do: Apply relevant concepts/theories to the article. Clarity in
linking economic theory to the article is the key word here.
How to get full marks:
 Focus on the core theory that is related to the article – do not spin off into theory that
simply cannot be linked to article content.
 Develop a line of reasoning within the theory being used. Clearly link your
explanation to the article and clear diagrams.
3/5
What the criterion means: Marks are given for using clear, correct economic
terms/concepts/theories to “break-down and build-up” article content. In other words, you
build on definitions, diagrams and theory to develop a line of explanation and reasoning. The
quality of your reasoned argument is being assessed.
What you are expected to do: The intention is for you to use the language and method of
economic reasoning to point out (to the same educated reader mentioned above) what is
taking place according to the article.
How to get full marks:
 Your diagrams are fully in line with article content and are used to “break down”
relevant issues into understandable “chunks”
 All diagram areas/shifts etc are fully referred to and explained using clear economic
language.
 Data/figures etc from the article are used in your iteration and clearly link to
economic theory (i.e. you can estimate percentage changes and write about PED)
 You clearly and fully explain the effects of, for example, the decrease in demand and
the effects on price and quantity supplied
 Any related theory should be explained
 You have pointed out any “anomalies” or inconsistencies related to use of economic
theory – for example that an administered price has been set rather than one where the
forces of supply and demand set the market price
4/5
What the criterion means: The final criterion basically measures your skill in putting the
pieces of your analysis together in an analytical whole. You must make some form of
judgement that your previous line of reasoning supports.
What you are expected to do: The trick is to only use the data + concepts + analysis in your
iteration to arrive at some form of conclusion. Hence, weak use of data/theory and resulting
thin analysis will invariably lead to conclusions that are not well underpinned or supported
via economic reasoning.
How to get full marks:
 Your conclusions clearly refer ONLY to what you have written about – nothing else is
speculated about
 You have used at least two forms of evaluation from the list:
o Effects on stakeholders (winners and losers)
o SR and LR possibilities
o Different possible outcomes – or outcomes that confirm/belie economic theory
o The theory has unrealistic assumptions
o You clearly outline either the likelihood and/or the importance of different
scenarios
o Different schools of thought – or contradicting theories/models
 Top marks will be earned by students who do the above and are able to bring together
the above in a conclusion and:
o Convince the reader of the appropriateness/inappropriateness of a policy or
market objective
o Draw the same conclusions your educated reader would draw – having
benefited from your analysis
o Clearly outline the key issues in what might well be a very tricky scenario
5/5
What the criterion means: You should read the instructions and follow them.
What you are expected to do: Read the instructions and follow them.
How to get full marks:
 Read the instructions and follow them.