Hey guys, I'm planning my course schedule for next year, and I was wondering if anyone here has taken Economics in the International Baccalaureate (IB) program. How's the workload? What can I expect in terms of assessments and exams? Any advice or insights would help a lot!
Hey there! Economics is an interesting subject to study in the IB program. The workload is manageable if you stay on top of readings and assignments. Here's what you can expect in terms of assessments and exams:
1. Internal Assessments (IAs): IB Economics has three IAs, each worth 20% of your final IB grade. They consist of two commentaries on articles related to microeconomics and macroeconomics, and one commentary on an article related to international or development economics. You'll need to analyze the articles using economic concepts and theories you've learned in class. A key aspect is being able to apply theory to real-life scenarios.
2. Exams: The IB Economics exams make up the remaining 80% of your final IB grade. They're divided into two parts: Paper 1 and Paper 2 (with an additional Paper 3 if you're taking the subject at Higher Level).
- Paper 1 (SL/HL): You'll have 4 questions in this paper, each based on a different main topic (microeconomics, macroeconomics, international economics, and development economics). You need to choose two questions to answer in an essay format. This paper tests your knowledge of economic concepts and your ability to apply them to different situations.
- Paper 2 (SL/HL): This paper consists of two data response questions, one related to microeconomics and macroeconomics, and the other related to international and development economics. Each question includes a real-life scenario and requires you to analyze the given data and answer a series of questions based on it.
- Paper 3 (HL only): This paper tests your knowledge of quantitative techniques like index numbers, compound interest, and exchange rates. You'll be given four questions, and you need to answer two of them.
To succeed in IB Economics, stay organized and keep up with the course material. Make sure you understand concepts and formulas, and practice applying them in different contexts. Stay updated on current economic events, as it will help with your IAs and exam preparations. And don't hesitate to ask your teacher questions if you need clarification on any topic!
Best of luck with your IB journey!
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