IB Economics-Macro Commentary Planning Sheet - 2020-21

Commentary November 16th 2020

writing date
(​articles to be
searched within
one year prior
to this date​)
Unit: Micro-economics
Title of Article: Global luxury sales could collapse up to 60% in the second quarter, consulting firm says
Source:
Link:
https://www.cnbc.com/2020/05/08/coroanvirus-bain-report-on-global-luxury-sales-for-2020-and-beyond.html?
Country:
&qsearchterm=luxury%20goods
Date of article:
Date of access
to website or
source
Key concept

Article
(Copy paste your article here)
Macro Economics Name

The overall aim is to use your economics knowledge to explain an event or issue in the world around
us.

Which economic theory is relevant to the discussion of the article?

Important terms in the article or related to the 1.

article that would require definition:
2.
3.
4.
5.
1.
2.
3.

What issue is discussed in the article?

(Write introduction and explain connection of economic theory and article)

Page ​2​ of 4
​
Macro Economics Name

What diagram(s) could you draw to illustrate this issue? Sketch them.
(Avoid having extra diagrams unless you really feel that it will strengthen your paper.)
Diagram to illustrate a problem Diagram to show the suggested policy solution

Explain below the dynamic nature of diagrams drawn above. Use economic theory to explain the
dynamic nature.

Now, evaluate this issue. Consider the following -

● If there is a policy solution, is it likely to solve the problem?

Page ​3​ of 4
​
Macro Economics Name

● What are the likely effects, both positive and negative, in the short and the long run, on
various stakeholders?
● If you can, rank the impacts from biggest to least, with reasons.
● Can you consider another point of view?
● Can you weigh the costs and benefits of an action or policy.
● Lastly, for the best sort of evaluation, how does this instance reflect on economic theory
itself? Does what happened or what is suggested in your news article accord with what
economic theory suggests should happen? If not, why not?

Page ​4​ of 4
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