As an IB economics student, Paper 1 is a critical part of your overall assessment. This 75-minute paper consists of three questions, of which you must choose one to answer. The questions can cover microeconomics, macroeconomics, or global economics, and you need to be well-prepared for any of them. Here's a guide to help you prepare for IB Economics Paper 1 and get the best possible results.
Structure of the Paper Paper 1 is structured similarly for both higher level (HL) and standard level (SL) students. The paper is 75 minutes long, and you'll have three questions to choose from. Each question has two parts - a 10-marker and a 15-marker. Part A will require you to "explain," while Part B will ask you to "discuss using real-world examples" or "evaluate." You'll have 5 minutes of reading time before the exam starts.
Time Management Effective time management is key to success on Paper 1. You should spend 20 minutes on the 10-marker and 55 minutes on the 15-marker. This gives you a good chunk of time to write a comprehensive and well-structured essay. Make sure you use your time wisely, and don't spend too much time on the 10-marker at the expense of the 15-marker.
Using Real-World Examples In Paper 1, you'll need to use real-world examples to illustrate your answers. This is a critical aspect of the exam and a key expectation of examiners. During revision, make sure you have detailed case studies of developing and developed countries, as well as industries. You can also use an examples book to get detailed examples of everything you need to know. Remember, the 15-marker will require you to "discuss using real-world examples," so make sure you have a good understanding of real-world examples to use in your answers.
Diagrams Diagrams are another favorite of IB examiners, and they can be especially useful in Paper 1. Make sure you include diagrams in both the 10-marker and the 15-marker to illustrate the theory you're writing about. During revision, practice drawing diagrams to help you get comfortable with them and make sure you draw them well in the exam.
Conclusion IB Economics Paper 1 is an essential part of your assessment and requires a good understanding of microeconomics, macroeconomics, and global economics. Make sure you prepare well, use real-world examples, and include diagrams in your answers. Good luck with your exams!
Tips for writing a high-scoring 10-mark question in IB Economics Paper 1:
Define key terms in the question.
Draw diagrams that are accurate and labeled properly, and refer to them in your writing.
Apply the diagrams to a specific good or service, or to specific countries.
Ensure that your answer focuses on depth of analysis and explanation, without evaluation or conclusion.
Allocate 20 minutes for writing the 10-mark question and 55 minutes for the 15-mark question that follows.
