G2/G11 x.wang@intsch.

se

Plan For Today:

1. How to do paper 1

Assessment overview

Component SL HL
Paper 1 30% 1hr 15mins 20% 1hr 15mins
Paper 2 40% 1hr 45mins 30% 1hr 45mins
Paper 3 - - 30% 1hr 45mins
External assessment 3 hours 4 hours 45 mins
Internal assessment 30% 20 hrs 20% 20 hrs

Paper 1 – Extended response (essay)

• HL = 1 hour 15 mins https://www.thinkib.net/businessmanagement

• Students answer one question from three

• Diagrams (strongly) encouraged
• 25 marks
• All areas of syllabus examined
• Calculators not allowed
• Weighting = 30% SL & 20% HL

Paper 1 – Extended response (essay)

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• Section A – content (theory) based

o AO1, AO2 and AO4 command terms
• Section B – evaluative, AO1 – AO4 examined
Paper 1 – Extended response (Assessment Objectives)
o Requires use of real-world examples (RWE)

• AO1 – Knowledge and understanding (of relevant economics

theories and concepts)
• AO2 – Application and analysis (of theories and concepts
relevant to the question)
• AO3 – Synthesis and analysis (of the theories, concepts and
arguments put forward when answering the question)
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• AO4 – Use and application of appropriate skills

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Suggested time allocations

• 5 minutes reading time – Look at all three essays, both parts
• Approximate timings for 1hr 15 mins (75 mins) exam:
o Part (a): 25 minutes (10 marks)
o Part (b): 50 minutes (15 marks)

• Part (b) needs more thought and planning to incorporate

RWEs and to provide a balanced evaluation.

Essay structure for P1, P2 part (g), and P3 part (b)

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• Introduction
o Precise definitions
• Body
o Explanations
o Diagram(s)
o Theoretical analysis
o Examples / RWE
• Conclusion
o Synthesis
o Evaluation
o ATQ
Recommendations from examiners for part (a)
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Recommendations from from
• Define relevant key terms examiners for part (a)
the question.
• Include at least key
Define relevant oneterms
dynamic
fromdiagram relevant to the
the question.
question.
• Include at least one dynamic diagram relevant to the
• Use the PEEL framework for all essays.
question.
• Do
Usenot
theassume reader’s for
PEEL framework knowledge
all essays.or understanding.
• Write
Do notasassume
an economist.
reader’s knowledge or understanding.
• Answer
Write asthe specific question asked!
an economist.
• Answer the specific question asked!
https://www.thinkib.net/businessmanagement

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Paper 1 – Analysis & Evaluation

• For part (a) For part (b)

• Define • Stakeholders
• Explain • Long run V Short run
• Examples • Advantages / disadvantages
• Diagrams • Prioritise arguments

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Paper 1, part (b) - Writing effective conclusions

• Provide a summative conclusion to part (b) by synthesising the most
important points
• Avoid simply repeating what has already been analyzed in the body of the
essay – this is not evaluation
• Remember that nothing is always, and nothing is never
• Avoid statements such as “It is obvious that ...”
• There usually isn’t a single “right” answer (think TOK!)
• Do not include personal opinions (keep it objective)
• Validate (substantiate) conclusions, backed by the analysis and RWEs in
the essay
• Link discussions to the chosen WISE ChoICES concept
• Show original thought.

Paper 1, part (b) - Writing effective https://www.thinkib.net/businessmanagement

conclusions

Useful phrases
• “The least effective argument for using expansionary fiscal policy in
this case is … whereas the strongest reason in favour is …”.
• “The main stakeholders who benefit (or lose) from this policy are ...
Because ...”
• “Given the (RWE), the use of ... Policies might not be so effective in
the short run, but might be more effective in the long run if ... .”
• “The policy measures should benefit the economy if the assumptions
of ... and ... hold true.”
• Answer the question explicitly – “Therefore, in conclusion ...”

Recommendations for parts (a) andhttps://www.thinkib.net/businessmanagement

(b)
• Write in full sentence (do not use bullet points)
• Use 1/3 page for diagrams
• Ensure diagrams are dynamic and not generic
• Use DATE framework for part (a) = 10 marks
• Use DATE and SLAP (or PALS) for part (b) = 15 marks

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Sample questions:

b.
The importance of RWE in Paper 1 – sample questions
1. Using real-world examples, discuss the consequences of a price
ceiling on stakeholders. [15 marks]
2. Using real-world examples, evaluate the effectiveness of fiscal policy
to achieve low inflation. [15 marks]
3. Using real-world examples, discuss the consequences of a fall in a
country’s exchange rate. [15 marks]
4. Using real-world examples, evaluate different approaches to
managing common access resources. [15 marks]
5. Using real-world examples, evaluate the effectiveness of monetary
policy to achieve low unemployment. [15 marks]
6. Using real-world examples, discuss the possible implications of a
persistent current account deficit. [15 marks]

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Exercise:
- Read the instructions carefully and become familiar with the grading criteria,
- Answer question b1 by following the suggested model/framework,
- Prepare for an 8-minute presentation.