IB Economics Paper 1 Tips

Economics, tedious and boring to study for few. Due to the subject’s high level of technicality, economics may appear more challenging. There are numerous ideas, and you must memorize each one’s definition, associated graph, etc. You might not find it as difficult if you understand the principle, though.

We’re concentrating on IB Economics Paper 1 advice in this article. This will focus more on techniques to do IB Economics Paper 1.

Layout

The first consideration for IB Economics Paper 1 is how you organize your responses. If the structure is correct, the rest is easy and improves the flow of your answers. Consequently, this is the first item you should focus on.

Every question on the paper is broken up into two parts.

• Part (a) carries 10 points
• Part (b) 15 points.
• You have five minutes to read before you can begin writing, so keep that in mind. These five minutes provides you the chance to decide which questions you are absolutely not going to try, as well as which question you are taking

Decide fast on the question you’ll be writing. Utilize a few minutes to mentally create the essay’s structure opted for. There are obviously more available marks for part (b). Be certain you will have plenty of time to write.

Format

For a 10 mark question (part Anna)

• Start off with a definition. If you have revised, then this section is simple since you must first define the economic theories and words in the question using a straightforward textbook definition.
• The paragraphs describe how the theories function and have an impact, either with or without examples. Here, the flow of your thesis description is crucial, and it must connect to your definitions. Explanation of theories is your second section.
• After that, you provide an example to illustrate your justification. That’s how easy it is. You can create a mock example or use a model taken from real life. In any event, it must be understandable and simple to connect to the explanation.
• A diagram has three components: labelling, titling, and drawing. If you answer these correctly, you’ll likely receive two or three marks right away. Work on improving the diagram first since it is simpler than the other pieces.

For a 15 mark question (part B)

Even though we have an evaluation as an additional portion for the 15-mark question, definitions and explanations section have also changed.

• You are not required to provide definitions for the theories you briefly described in a 10-mark question. All you need to do is add the new phrases here, and you’re ready to go.
• You must also list the theories’ shortcomings since the question carries 15 marks. Like before, the definition must be the focus of this explanation.
• Explanation and diagrammatic section remains the same.
• The evaluation section is the most difficult section, and the one that will have the biggest impact on your final grade. To make sure your answer contains a critical analysis, read the question twice, pay attention to the keywords, and try to use them. Then, more study is required, such as analyzing the advantages and disadvantages, followed by a brief discussion.

Time Management

Time management is essential for any exam, whether you are a high level or standard level student. Therefore, it’s important to manage your time well. You are given a total of one hour and thirty minutes for the IB Economics Paper 1 which gives you 45 minutes for each question. Giving the 15-mark question more time makes sense, though, because it is more important.

The ideal time management strategy would be to set aside thirty minutes for 10 markers and forty five minutes for fifteen, or whatever works best for you. Therefore, the plan is to give 15 markers extra time.

Setting aside time to review your responses once before submitting them to the invigilator is also essential.

Also Read- 6 Reasons to Pursue Your Further Studies in the USA

References

Make an effort to cite the data that was provided to you. Since you are effectively referencing the information provided to you on the paper, it is not necessary, but it is good practice to occasionally explicitly mention or quote the material. This is true for both the 10- and 15-point questions.

Quick Hacks

• Write the response as though you were describing it to a layman. As a result, you must be as concise, explicit, and thorough as you can in your response.
• Solve practice problems and be severe with yourself, as an examiner would be. Working on as many past papers as you can afford to be one of the finest methods to significantly raise your grades.
• You can Subscribe to tribe topper online resource and get a good practice for these papers
• The emphasis is on comprehending the precise requirements of the question, successfully describing pertinent economic theory, and drawing and completely describing a relevant diagram.