1. Writing the IB Economics Exam

2. Time Management HL Paper 1 Extended Response (1 hour) One Question from Four Paper 2 Extended Response (1 hour) Three Questions from Six Paper 3 2 hours Data Response Three Questions from Five

3. Time Management SL Paper 1 Extended Response (1 hour) One Question from Four Paper 2 2 hours Data Response Three Questions from Five

4. Understand the demands of the question Underline key words Identify command terms Refer to the question in your answer

5. Define Terms  Showoff you precise definition of any relevant term and add a sentence that starts with “In other words... “Economic growth refers to an increase in a country's total output of goods and services. It is measured by changes in real GDP (i.e. the increase in GDP after inflation has been removed). In other words it describes an improvement the level of the goods and services produced over a period of time.”

6. Give Examples  Include explanatory or relevant real-world examples.  Explanatory Example: We can see that a country is experiencing economic growth if its GDP rose from 3% to 4% as this means that the total amount of goods and services has increased by 1% in one year.  Real World Example: The Chinese economy grew by 8.2% in 2009 according to Asian Development Bank.

7. Clear Writing The Introduction  Rehash the question and provide a context  Define the key terms in the question  Outline your main ideas  Explain what your essay will do  Foreshadow how you plan to evaluate  Do not write in the first 1st. person (I will.. ) or essay is a formal in nature.

8. Diagrams  Always an opportunity to include a well labeled and appropriate diagram  A diagram is useless unless you explain it in your answer Figure 1 Shift in Demand

9. Data Response Questions  Use information that is included in the text

10. Command Terms Define one to two sentences in precise economic language. Clinch it with an example. Calculate simple calculations for elasticities or nation income etc that would not require an calculator. Interpret the significance of the value Explain clearly explain the concept Discuss consider different perspectives or opinions

11. How to evaluate Remember CRAMPSS Causes and/or Consequences Reliability and Validity of Data Alternative Explanations Macroeconomic goals Pros and Cons/Advantages and Disadvantages Short and Long Term Stakeholders

12. How to evaluate Remember CRAMPSS Causes and/or Consequences Identify and explaining which is the most important and why. Reliability and Validity of Data Identify any possible issues with the reliability and validity of the data. Alternative Explanations Would all economist agree with a particular theory? How have they challenged this theory and how valid are their arguments? Identify what happens in reality as opposed to the model.

13. How to evaluate Remember CRAMPSS Macroeconomic goals To what extent will a particular policy achieve the macroeconomic goals of high employment, low inflation, high economic growth and balance of payments equilibrium. Pros and Cons/Advantages and Disadvantages Identify both sides and reach a judgment about which which side outweighs the other

14. How to evaluate Remember CRAMPSS Short and Long Term Identified the short and long term causes or consequences Stakeholders Identify how individual stakeholders in an economy will be effected e.g. domestic consumers, the labor force, exporting producers, social welfare recipients etc.