IB Economics Tutors
IB Economics Tutors say that Economics HL is one of the easiest HL subjects in IB, but it is only with high motivation, a hard work ethic, and the help of the smartest IB Online Tutors that one gets a level 7. Below are the subsections by which you can study, prepare, and nail your final exams.
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IB Economics Tutors’ Tips to get a 7
Our IB Economics Tutors can help you in, understanding HL Economics, planning how to study and how to write your IB Economics HL paper 1, 2, and 3. Here is a step-by-step guide for each paper to get a 7 in IB Economics HL.
How to take help from IB Economics Tutors in the paper one
Understanding Paper one
Here is the configuration of paper one
►2 questions on microeconomics
►2 questions on macroeconomics
You should choose one question in each section to answer. 90 min TOTAL. Spend 45 min on microeconomics, 45 min on macroeconomics.
(17 min on part A, 26 on part B) // Last 4 minutes on part B. Time is scarce in P1. Time is really very limited in Paper one
Studying For Paper one with IB Economics Tutors
This is what separates the level 7s from the rest. Level 7s participate while studying with IB Economics Tutors, ASK all the questions, and not merely copy down, what do Economics HL Tutors tell, into their notebooks.
Our IB Economics Tutors are neither the fan of writing notes nor they recommended their students to do so. As a student, you should listen to what is going on in the class, and ask whenever you are stuck. When you fully understand a concept, write it over in bullet points ON THE OXFORD STUDY GUIDE with a pencil, just to add additional details in an already condensed book. Don’t write down something if you don’t know what it means
How to solve Paper-One to get a 7 in IB Economics HL
In your 5 min of reading time in the exam, pick a question from both MACRO and MICRO that you feel most comfortable doing.
i.e you pick Q4 instead of Q3.
Define: Define the key terminologies in the question:
Diagram: Draw any relevant diagrams.
1) Diagrams should be around one-third of a page in size.
2) Always use a (sharpened) pencil (so errors can be easily fixed)
3) Always use a ruler for straight lines
4) Always label the axes appropriately – eg “Price of Cars” (Not just “Price”)
5) Indicate the equilibrium points with dotted lines to the axes, with the notation on the axes such as Q1 to Q2 or AD1 to AD2
6) You must use ARROWS to indicate the direction of any change
7) You CAN-NOT use colored pens to highlight/annotate your diagram (you may only use a blue or black pen and a pencil for diagrams)
8) Do NOT confuse Macro and Microeconomics in your labeling! eg it is the ‘Price of Cars” not “Price Level” in Microeconomics.
9) Most of your diagrams should be DYNAMIC, not STATIC (i.e. they are illustrating some process of economic change)
10) Always EXPLAIN your diagrams, with explanations coming AFTER the diagram. You must refer to specific lines and points!
There are 2 types of explanation that are required: THE EASY, and THE HARD BIT.
The easy bit involved dynamic movements in the diagram and just say WHAT IS GOING ON…, for example, A shifts to B, P moves up from P1 to P2. STATE THE OBVIOUS.
Examples should be embedded within your arguments EMBED THEM WITHIN YOUR DIAGRAMS!!!!
Now, let us go for the hard explanation bit. STATE the economics of what causes the shift…. Or what are the ramifications of such a shift…..
(Include more than 1 diagram if needed)
Definitions, Diagrams, Examples embedded within the diagram, and Explanations (2) – easy (show dynamic shifts) and hard (justification of economics)
DO NOT REDEFINE WHAT YOU ALREADY HAVE DEFINED IN PART A.
Just say…. “xxx is defined in part A”
Make sure you show the examiner you KNOW what you are explaining. Clarify any ambiguous points.
Examples to get a 7 in IB Economics HL-
Hive real-life, believable examples. Make them up on the spot but AVOID GENERIC ONES!!! Make them unique!!! And make a bank of them so you can re-use them test after test!
How do IB Economics Tutors suggest to Study for Paper 2
Understanding Paper 2
- 2Qs on INTERNATIONAL TRADE. Choose 1. 40 min.
- 2Qs on DEVELOPMENT ECONOMICS. Choose 1. 40 min.
Choice of question
The 5 minutes reading time are incredibly important here. You’ll get a chance to skim all the questions to see which questions ask things you know about.
Do NOT decide to do a question based just on the definitions. It is more important that you can answer the last questions worth 8 marks each.
When you can write, be sure to annotate the text – underline, highlight, make notes in the margin – anything to make you familiar with the data.
IB Economics Tutors suggestions for timings
Possible time allocation:
Definitions – 30 seconds each. Remember the definitions verbatim from the TRAGAKES glossary. = 1 min
►Questions b & c – 10 minutes each = 20 minutes
►Diagram: 3 minutes. Draw CLEARLY. Label as required. Dynamic arrows (1 mark)
►Explanation Easy: 2 min Say this moves this, Price increases, Quantity Increases…. This shifts to the left/right STATE THE OBVIOUS. (1 mark)
►Explanation Hard: 5 min: What is the explanation for why this moved to the right? The economics behind it? Quote from the text. Look at the mark scheme. Keep it precise.
Tackling Paper 3
It is getting harder and harder year after year
Understanding Paper 3
Questions are based on Knowledge, understanding, definitions, explanations, and mathematics. They range from 1-4 marks. Either you know it or you don’t.
Less math year after year, more explanation and lengthy questions.
Remember all the definitions from P2 above. And the glossary from the Economics HL textbook.
How to prepare for and write Paper 3 exam-
- Do ALL the past papers from M13 – the latest possible (specimen sucks so don’t bother). They ask similar Qs like “why doesn’t a monopoly produce on the inelastic portion of the demand curve…..”
- “Implications of Persistent Current Account deficit”
- They repeat lots so DO ALL OF THEM until you ace them.
- Understand most concepts inside out. – like the love to ask to give 2 reasons why ……….. (most are in the textbook, so if you like flashcards… this could be helpful to MEMORIZE stuff).
- Know all of the diagrams inside out. And WHAT THEY MEAN!!!!!
- Know all of the formulas.
- Contact IB Mathematics Tutors for any help in the Mathematical part.