Examination tips and guidance
Time management
Breakdown your time Paper 1:
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For 10pt questions allow yourself 18 minutes
For 15pt questions allow yourself 27 minutes.
Breakdown your time Paper 3:
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allow yourself 30 minutes per question
Approach to exam using DEED and DEEDE
This approach is used for all IB Economics exam questions. You need to use each DEED(E) bullet
point in every response that you give in all exams!
10 mark/point question using DEED
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Definition – To learn the correct definitions, it is important to have a good source. Please
refer to the text book or online glossaries provided. Briefly explain a real-life example. Two
sentences maximum; you’ll keep link back to this later in the essay.
Explanation – For the explanation, you’d have to get analytical and explain the theory of a
government implementing an indirect tax on cigarettes. So how does the theory work? How
does implementing an indirect tax help a government raise revenue and reduce the overall
consumption of cigarettes?
Example(s) that relate to the question – May be taken from the book or found in a current
news article. DO NOT just mention the example… apply it specifically to the economic issue.
Diagrams
o Brief written description of the movements, shifts, increase, decrease, demand,
price, consumer, producer
15 mark/point question using DEEDE
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Definition – To learn the correct definitions, it is important to have a good source. Please
refer to the text book or online glossaries provided. Briefly explain a real life example. Two
sentences maximum; you’ll keep link back to this later in the essay.
Explanation – Explain the diagram. What does it show in general? Explain a specific insight of
the diagram (i.e. “As the diagram shows, the increase in the price of vaccines has little effect
on the quantity demanded.”)
Example(s) that relate to the question – May be taken from the book or found in a current
news article. DO NOT just mention the example… apply it specifically to the economic issue.
Diagrams
o Brief written description of the movements, shifts, increase, decrease, demand,
price, consumer, producer
Evaluation (see attached document for guidance)
Assessment Objectives demonstrated in exam responses
Part (a) and (b) of each question requires knowledge and understanding, application and analysis
and the selection, use and application of a variety of appropriate skills and techniques.
There are four assessment objectives for the DP economics course (seen below).
Having followed the course at higher level (HL), students will be expected to meet the following
objectives.
Assessment objective 1: Knowledge and understanding
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Demonstrate knowledge and understanding of the common SL/HL syllabus.
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Demonstrate knowledge and understanding of current economic issues and data.
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Demonstrate knowledge and understanding of the HL extension topics.
Assessment objective 2: Application and analysis
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Apply economic concepts and theories to real-world situations.
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Identify and interpret economic data.
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Demonstrate the extent to which economic information is used effectively in particular
contexts.
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Demonstrate application and analysis of the extension topics.
Assessment objective 3: Synthesis and evaluation
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Examine economic concepts and theories.
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Use economic concepts and examples to construct and present an argument.
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Discuss and evaluate economic information and theories.
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Demonstrate economic synthesis and evaluation of the extension topics.
Assessment objective 4: Selection, use and application of appropriate skills and techniques
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Produce well-structured written material, using appropriate economic terminology, within
specified time limits.
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Use correctly labelled diagrams to help explain economic concepts and theories.
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Select, interpret and analyse appropriate extracts from the newsbmedia.
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Interpret appropriate data sets.
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Use quantitative techniques to identify, explain and analyse economic relationships
Use of diagrams
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Paper 1 (essay paper), it is recommended that you draw at least one diagram in a part a)
question (10 marks) and two to three diagrams in a part b) question (15 marks).
Paper 2 (data response paper), you can be asked to draw diagrams for a part b) and a part c)
question (both worth 4 marks) as well as the part d) question (8 marks).
All diagrams must be correctly labelled or marks will be lost. Check the markscheme for
evidence of this. Further, many examiners will insist on the little arrows showing curve
shifts, as well as axes marked with P1, P2, Q1, Q2, etc. when showing curve shifts.
Diagrams should be suitably sized (about a quarter of the page) and drawn with a ruler,
using a dark pencil or ink if necessary to distinguish shifts in curves
Explain the diagram. What does it show in general? Explain a specific insight of the diagram
(i.e. “As the diagram shows, the increase in the price of vaccines has little effect on the
quantity demanded.”)
Analysis with the aid of diagrams is a core skill in economics and is at the heart of paper 2 and your
essay responses.
1. First, you need to explain, in words, precisely what is going on in the situation that is being
analyzed.
2. Be sure to explain fully – for instance, if the situation is one where demand rose, it is always
a good idea to go on to explain why that was the case in a way that shows that you
understand why the event would lead to an increase in demand.
3. Next, having explained the situation, show the situation using a diagram. Be sure to fully
label the diagrams and show the different equilibrium price and quantity points with dotted
lines to the axes.
4. Lastly, explain the diagram, making sure to make specific reference to the points and lines
that you have drawn. To sum up, you need to explain, then show, and then explain what you
have shown.
Warning - simply presenting and describing microeconomic theories/concepts will mean only the
lower mark bands can be accessed.
To show evaluation, examiners will be looking for supported conclusions. These can occur
throughout the answer, but it is good practice to finish with an overall evaluation. For example:
“In conclusion, the government may choose to apply both indirect taxes to ……etc.”
Also, it doesn’t hurt for students to use, and even underline, phrases like “other stakeholders”, “in
the long-run”, “the disadvantage of this is”, and other wording that specifically identifies valid
evaluation.
NOTE: Examiners read countless papers and, being human, it is possible that they miss key points.
Students make sure that their evaluation really stands out to examiners.