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Writer's pictureEllen Jo

Top 2 Essentials for Acing IB Economics Paper 1 essays!





Let me introduce two essentials that will certainly guarantee your level 7 Economics Paper 1 essays. Both may look seemingly very simple but require lods of time and effort, let’s have a look!


1. Equip your pre-planned essay prompts compilations. ​


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Pre planned?? What does it mean to prepare your essay in advance?

As you all know, Paper 1 is an essay test where you write long essays of 10 and 15 marks, right?

​But we can't write all economics essays for hundreds of past papers for revision. And there's no need for that.

Instead, you can have compilations of past paper essay prompts as many as possible and compose your idea planning to check if you can write an essay about the concepts asked in each prompt. This is called Essay pre-planning.

The students in my tutoring classes each have Google docs named Econ revision and each doc has 30-40 past paper prompts per unit. This will guarantee concepts, analysis, diagram, evaluation and real life examples, all of them be updated and well updated. 

Check the images below that show Google doc of one of my students. For each session, the student composed 2-4 simple outlinings, including what content to write in the essay, what to draw for the diagram, and what to use for the real life example etc. The compilation will be a great revision source by the time you start your final exam revision! 








2. Catch up with real life examples regularly!


There is no doubt that the new Econ syllabus puts great importance of Real life examples in paper 1 essay. You all know that it is nearly impossible to get a 7 in Paper 1 without properly demonstrating your knowledge with real life examples, right? But still you may say that you don't have time to read or interest in the news whatsoever.. 

However, students who strive to get a 7 in Economics must persistently update real life examples for each econ concept learned. 


You are not required to 100% have accuracy in your real life example writing! Nonetheless, you should still include contents that are up-to-date, convincing and in detail to get a 7 in 15 marks essay. 

Do check the two different RLE writing paragraphs! ​

Example 1: To illustrate, the BOE conducted a contractionary monetary policy by increasing its interest rates. It resulted in higher costs of borrowing that discouraged spending that ultimately lowered the price level.

Example 2: To illustrate, during the years of 2021-2022, the Bank of England conducted a series of contractionary monetary policies by increasing its interest rates from 2.0-2.5%. The actions were historically unprecedented, since the domestic economic situation was the worst ever due to the cost push inflation that was mainly oriented from the Russian-Ukrainian war. The authority diagnosed the condition as stagflation and expected the contractionary action would alleviate the cost-living crisis.


As it obviously contracted to example 1, there is no doubt that example 2 is much more specific and is an example that well summarises the actual economic situation related to the Econ concept. Do remember that long RLE does not necessarily mean that it is well written, it rather is up to the quality of the  content that is convincing and specific. 


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