Here come the practical tips for IB Economics paper 3 exams that will help you to secure 7!
A. Things you should know about perfecting Section (a) of paper 3 exam
Section a) of Paper 3 is a section where various types of calculation problems and short answers are given. Typically there are 8 questions per each a) section. Then, let’s check out tips for perfecting this section.
There are a few rules that will help you maximise your score:
Two decimal places! Make sure your answer is given to two decimal places unless the question requires otherwise. Even if your calculated answer shows 2.5, write it down as 2.50.
Use precise units of measurement! All calculations, equations, diagrams, etc. must have appropriate units of measurement ($, kg, years, %, etc.). If the question specifies units in thousands, the answer must also be in thousands.
Label diagrams! All axes, lines, curves, intersections, and critical points must be fully labelled. Don't use abbreviations unless it's standardised like GDP or the question says abbreviation!
Specify your calculation process. Even if the question does not explicitly ask you to do so, be sure to start by writing down the formula and the calculation process you used to minimise calculation errors.
Use proper examples. The problem is “Using an example, explain…” When saying, “Be sure to use an example.” Never use “If…”
Use references from the given texts. In the problem “Using information from text… ” ” or something similar, you should mention exactly what text you are referring to when writing your answer. '' For example: “As mentioned in the first paragraph, an increase in price by ..% has led to a …% cut in demand…” You need to get specific information like this and write it down, not from your own knowledge!
B. Things you should know about perfecting Section (b) of paper 3 exam
Section b) question is similar to the essay prompts in paper 1. The question in this section asks you to write an essay referring to the given texts and data and your knowledge. And based on this data, you are asked to recommend an appropriate policy to the government of a given country.
In order to obtain a score as close to 10 as possible in Section (b), it is recommended that you remember and write the following essay structure!
Definition of economic terms and keywords appropriate to the question; Precise definitions of the key terms presented in the problem.
Analysis of a given country’s economic situation: Analysis of the economic situation of the country given in the problem, especially the economic problem situation! Of course, draw a diagram or explain the theory! Above all, the most important thing is to take the given texts and data and analyse them accurately when analysing the country's situation!
Introduction of your policy recommendation and what it is supposed to achieve: After an accurate analysis of the economic problems of the country given in the problem is completed, it is time to explain the policy recommended by you.
This part should mention the pros and cons of the suggested policy, its limitations, short and long-run effects, how it affects different parties, etc: Explaining the pros and cons of the recommended policy in detail! When explaining advantages and disadvantages, actively refer to texts and data to explain why the policy recommended by the student fits the situation of this country and also explain what limitations it may have.
Conclusion – a short summary of your answer: Summarise what impact your policy recommendation will have on short-run and long-run!
C. The last tips!
Make sure not to spend too much time on section b). Ideally, you should finish your section (b) essay within 25-30 minutes, not longer than that. It is more important to write an essay that is accurate and concise.
Do not recommend more than one policy! Since it is said that anything less or more than this is actually a minus. And you end up wasting time on things that don't help you.
Comments