Quick Answer
Your Economics IA should be 800 words maximum, structured around a clear economic concept from your article. Use the DEED structure (Definitions, Explanation, Examples, Diagram) and always include an original, labelled diagram that you explain thoroughly.
What You'll Learn
- Stay strictly within the 800 word limit
- Use the DEED structure: Definitions, Explanation, Examples, Diagram
- Choose articles from reputable sources like The Economist or Financial Times
- Your diagram must be original, labelled, and fully explained in your text
Understanding the Economics IA
The Economics Internal Assessment consists of a portfolio of three commentaries, each based on a different news article and covering different sections of the syllabus (Microeconomics, Macroeconomics, and International Economics). Each commentary is worth up to 7 marks and should be no more than 800 words. The key to success is choosing the right article, demonstrating clear economic analysis, and using diagrams effectively to support your arguments.
Pro Tip
Start collecting articles early. The best articles clearly illustrate one or two economic concepts and contain enough data or context for meaningful analysis.
How to Choose the Right Article
Your article choice can make or break your commentary. Look for articles that clearly relate to specific economic concepts from your syllabus, contain real-world data or examples you can analyse, are recent (published within the last year), come from reputable sources (major newspapers, economics publications), and are substantial enough to analyse but not so complex that you can't cover it in 800 words.
- The Economist, Financial Times, and Bloomberg are excellent sources
- Look for articles about price changes, government policies, trade issues, or market interventions
- Avoid opinion pieces. Focus on news reporting with factual content
- Check that the article hasn't been used by other students at your school
- Save multiple potential articles for each section so you have options
Watch Out
Avoid articles that cover multiple unrelated economic concepts. A focused article about one clear issue allows for deeper analysis.
The DEED Structure for Economics Commentaries
While there's no single required structure, the DEED approach helps ensure you cover all the essential elements examiners look for:
- 1Definitions: Start by defining the key economic terms relevant to your article (2-3 definitions, briefly stated)
- 2Explanation: Explain the economic theory or concept that applies to your article's situation
- 3Examples: Connect the theory to specific details, data, or quotes from your article
- 4Diagram: Include a relevant, original diagram that you explain and link to both the theory and the article
Pro Tip
Your diagram should be your own work, not copied from textbooks. Hand-drawn diagrams scanned in are perfectly acceptable. What matters is accuracy and clear labelling.
Using Diagrams Effectively
Diagrams are essential in Economics IAs and are specifically assessed. Your diagram must be original, correctly drawn and labelled, directly relevant to your article's situation, and thoroughly explained in your text. Common diagrams include supply and demand shifts, market structures, cost curves, AD/AS model, Phillips curve, and trade diagrams.
- Label all axes, curves, and equilibrium points clearly
- Show the shift or change relevant to your article (e.g., 'supply shifts from S1 to S2')
- Explain in words what the diagram shows and how it relates to the article
- Reference specific data or quotes from the article when explaining the diagram
- Include the diagram near the relevant text, not as an appendix
Strong Analysis and Evaluation
To score highly, you must go beyond description. Analysis means explaining why and how economic concepts apply. Evaluation means considering limitations, alternative perspectives, and real-world complications.
- Explain the cause-and-effect relationships in economic terms
- Use specific data from the article to support your points
- Consider who wins and who loses from the economic change described
- Discuss short-term vs long-term effects
- Acknowledge limitations of the economic theory when applied to real-world situations
- Consider stakeholder perspectives (consumers, producers, government, environment)
Pro Tip
Evaluation doesn't mean being negative. It means showing you understand that economic theories are simplifications and real situations are more complex.
Common Mistakes to Avoid
These errors cost students marks every year:
- Exceeding 800 words (you will be penalised for anything over)
- Summarising the article instead of analysing it economically
- Including diagrams without explaining them in the text
- Using incorrect or poorly labelled diagrams
- Forgetting to define key terms at the beginning
- Weak links between your analysis and specific article content
- No evaluation or one-sided analysis
- Using the same syllabus section for multiple commentaries