INTERNAL ASSESSMENT

PORTFOLIO GUIDE
IB ECONOMICS

2024
MICRO EDITION Created by:
Todd Reichlmayr
American School of Milan
PURPOSE OF PORTFOLIO
The IB Economics Internal Assessment (IA) comprises three
commentaries, developed over two years, critical for both HL
and SL students, contributing 20% to the final grade. Unlike
the time-pressured exams, the IA allows for a deeper
exploration of economic concepts through topics of personal
interest. This unique component empowers students to
demonstrate their understanding and analytical skills
without the constraints of exam questions, offering a
significant opportunity to influence their overall score by
leveraging their control over topic selection and analysis.

ROLE OF THE TEACHER

The IB Economics IA requires students to independently
produce their portfolio, yet guidance from teachers is integral
during its development. Initially, teachers may recommend
suitable articles for commentary. They also play a critical role in
ensuring students grasp the assignment's requirements and
assessment criteria. Before drafting the commentary, engaging
in a discussion with your teacher can clarify expectations and
requirements. Teachers will review the first draft once, offering
constructive feedback for improvement. However, the onus of
making the final revisions lies with the student. Ultimately, the
quality of the IA portfolio hinges on the student's initiative and
application of feedback.
RESPECT
THE PROCESS
The infographic to your left
outlines the step-by-step
process required to
successfully complete a
commentary for your IA
portfolio. Adhering to these
steps is vital for achieving
high marks in each
commentary. Keep in mind,
you are required to submit a
total of three commentaries
to fulfill your portfolio
requirements.

It is imperative that your

selected article demonstrates
a comprehensive
understanding of at least one
key concept from our course.

Click the image below to see

an overview of possible
Key Concepts to use.
CHOOSING AN
ARTICLE
Before writing your commentary,
it's imperative to select an article
that addresses a topic we've
explored in class. This initial step
is crucial, as the article you
choose serves as the cornerstone
of your commentary. Opt for a
topic that genuinely piques your
interest.

Outlined to the right are some

strategies you should adhere to in
selecting an article. This guidance
is key to ensuring your
commentary is built on a solid
foundation and reflects a subject
matter that engages you.

Below is a brief list of sources that have

worked for students in the past. This
list is not exhaustive by any means:
1. BBC News
2. Guardian
3. Reuters
4. New York Times
5. Al Jazeera
6. Shanghai Daily
7. Times of India
8. Daily Nation Kenya
9. Latin American Post
10.CBC News
PORTFOLIO BREAKDOWN
Below are all the possible marks you can earn from your Internal
Assessment Portfolio in IB Economics.

Commentary #1 Commentary #2 Commentary #3

14 marks 14 marks 14 marks

With three commentaries worth 14 marks each, that equals a total of 42 marks.
On top of that you can earn up to 3 marks for your entire portfolio grade which
gives your Internal Assessment Portfolio a total score of 45 marks.

COMMENTARY CRITERIA
Each of your commentaries will be assessed by five rubric criterion
out of a total of 14 marks. These criterion are listed below and the
weight of each criterion is represented by the pie chart.

A: Diagrams [3 marks]

B: Terminology [2 marks]

C: Application & Analysis

[3 marks]

D: Concept [3 marks]

E: Evaluation [3 marks]
 WRITING YOUR
COMMENTARY
Writing your commentary begins with crafting a detailed outline.
This stage involves advancing beyond merely responding to the
initial article selection questions, transitioning into refining and
organizing your thoughts. In preparing your outline, it's essential to
confirm that the selected diagrams and evaluation points align
with your commentary's objectives. The importance of a well-
structured outline cannot be overstated—it lays the groundwork for
a compelling and coherent commentary.

Crafting your commentary doesn't follow a one-size-fits-all

approach, as the structure largely hinges on the article you select.
Students often choose articles highlighting a problem, enabling
them to propose and discuss potential solutions. Alternatively,
some articles may present a solution, inviting you to assess its
implications.

While there are no explicit criteria focusing on grammar, sentence

structure, or organizational coherence, these elements are vital for
effectively conveying your economic insights related to the article.

Examining past exemplars can reveal common features among

high-scoring commentaries. On the next page, I've outlined a
frequently used structure. However, this is not the sole approach to
writing a commentary.

It's crucial to keep your final submission within the 800-word limit.
Aim for your first draft to closely match this limit; being 50-100
words over can be manageable, but a draft exceeding 1000 words
may hinder the ability to receive constructive feedback.
Sentence Starters
Creating effective sentence starters can help students structure their analysis and
evaluation in IB Economics Internal Assessments, specifically for Criteria A (Use of
Diagrams) Criteria C (Application and Analysis), D (Key Concepts), and E (Evaluation).
Here are some sentence starters tailored for each criterion:

Criterion a: Use of Diagrams

"The diagram (Figure 1) represents..."
"As illustrated in the diagram, we can observe that..."
"The shift from D1 to D2 in the diagram indicates..."
"This diagram helps to visualize the impact of..."

Criterion C: Application & Analysis

"This economic theory illustrates how..."
"When applying [economic concept] to the situation described in the article, it
becomes evident that..."
"The relationship between [variable A] and [variable B] can be analyzed by
considering..."
"Given the economic context, [economic theory] suggests that..."

Criterion D: Key Concepts

"The key concept of [concept] is pivotal in understanding..."
"This situation underscores the importance of [concept] in explaining..."
"Exploring the concept of [concept], one can see how..."
"At the heart of this issue is the concept of [concept], which clarifies..."

Criterion E: Evaluation
"Considering the potential impacts, [policy/solution] may lead to..."
"While [solution] addresses [issue], it also raises questions about..."
"Evaluating the strengths and weaknesses of [approach], it's apparent that..."
"From an alternative viewpoint, [solution] might result in..."
 Commentary Outline
Begin your commentary with a concise summary of the article's key issues,
using your own words to capture the essence of the economic situation or
problem. Early on, introduce the Key Concept that will serve as the focal point
of your analysis. Then, articulate a clear thesis statement that outlines your
main argument, guiding the reader through your subsequent analysis and
evaluation.

DIAGRAM #1

Detail the relevance of your diagram in relation to the article's theme, aiming
to illuminate the economic issue at hand. Incorporate specific details or
quotations from the article to tie your analysis directly to the source material,
emphasizing how these elements reflect changes depicted in your diagram.
Given the word limit constraints, prioritize the aspects of your explanation
that directly contribute to understanding the core economic principles and
the situation described.

DIAGRAM #2

When discussing your second diagram, align it with the article's context,
focusing on key aspects to leave space for your evaluation. It’s crucial to
judiciously select and prioritize the elements of your explanation to conserve
space for thorough evaluation later. It is recommended that your first or
second diagram make reference to your chosen Key Concept

Delve deeply into your evaluation, focusing on stakeholders or another

analytical framework, to maintain a balanced approach as IB advises.
Incorporate brief quotes from the article and reference specific entities to
enhance your argument. Ensure that at least one point directly ties to your
chosen Key Concept, showcasing the relevance and application of
theoretical knowledge to real-world analysis. Most likely this will take two
separate paragraphs.

A concise conclusion is effective. Summarize your key evaluation points and

solidify the link to your chosen Key Concept, reinforcing the coherence and
depth of your analysis.
 USING A.I. FOR YOUR IA
These prompts encourage students to engage critically with their work, seek ways to enhance
their understanding and presentation, and maintain academic integrity by not requesting
direct answers. This approach helps develop their analytical and writing skills in economics.

While AI tools can be beneficial, the originality and integrity of your IA portfolio are crucial.
Adhere strictly to the IB AI Policy, using AI responsibly to augment your work while
safeguarding academic integrity. Finally, you should be ensuring any new understanding
aligns with our course materials, such as notes and/or textbook.

Brainstorming:
“You are an IB Economics teacher. List possible ideas to focus on for [Insert Unit Title]
Internal Assessment commentary. Ideas should be consistent with the IB Economics
Subject guide. Put them in bullet point format.”

Understanding:
“You are an IB Economics teacher. Use two metaphors and two analogies to explain
[insert concept/theory] Put them in bullet point format.”
“You are an IB Economics teacher. Use the Feynman Technique to explain
[insert concept/theory].”

Diagrams:
“I've included a [insert type of diagram] to illustrate [why you included diagram].
What are the best practices for labeling and explaining diagrams in IB economics?”
“You are an IB Economics teacher. Provide tips on how to effectively use a diagram
to support an analysis of [type of diagram] on stakeholders.”

Analysis & Application:

“I've written an analysis on [insert economic theory/concept]. Can you suggest ways
to deepen my argument or additional angles to consider?”
"How can I more effectively apply [insert theory/concept] to [insert real world
example]? Are there any common pitfalls to avoid?"

Evaluation:
"I've evaluated a [government policy] in the [type of market]. Can you suggest
criteria or perspectives I should consider to provide a balanced evaluation?"
"In discussing the effects of [government policy] in [real world example], I've
presented arguments for and against. How can I strengthen my critical analysis of
these viewpoints?"
 CRITERIA BREAKDOWN
To elevate your performance in each aspect of your commentaries, this guide
outlines strategies for achieving full marks. The focus is on a detailed
examination of criteria, aimed at enhancing your understanding and
application of economic concepts, analytical depth, and evaluative skills in
your commentary. This approach is designed to optimize your scoring
potential by aligning your work closely with what examiners are looking for.

CRITERION A: DIAGRAMS [3 MARKS]

Make sure your labels are specific to the article. (i.e. 'Price in USD' or
'Quantity of Bananas'.
Diagrams should always be dynamic and showing change.
Diagrams should be drawn using Google drawing tools in Docs.
There should be 1-2 diagrams with detailed explanations.

CRITERION B: TERMINOLOGY [2 MARKS]

You do not need to define all terms. Simply using economic terms
appropriately throughout the commentary will earn you full marks.
If you do want to define relevant terms, chose one or two specific terms.

CRITERION C: APPLICATION & ANALYSIS [3 MARKS]

Your commentary should weave a seamless connection between

economic theories and the specifics of your chosen article. This
integration demonstrates your ability to apply abstract concepts to real-
world situations, enriching your analysis.
Enrich your commentary by integrating quotes, references, and
pertinent details, especially when explaining diagrams and theories.
Aiming to reference the article in every paragraph ensures your analysis
is grounded in concrete examples, enhancing credibility and depth.
 CRITERIA BREAKDOWN
CRITERION D: CONCEPT [3 MARKS]

You must clearly identify ONE concept from our course syllabus
Your concept must be applied and fully explained in light of your
chosen article.
Ideally the concept should appear in your introduction, in at least two-
three body paragraphs and conclusion.

CRITERION E: EVALUATION [3 MARKS]

Achieving depth in your evaluation is essential. For example, when

discussing stakeholders, dedicate an entire paragraph to explore their
perspective comprehensively. This focused approach ensures a thorough
analysis of their interests and impacts.
Allocate the concluding sections of your commentary, ideally the last two
to three paragraphs, to robust evaluation and analysis. Given these
sections account for half of the overall marks, this strategic placement
underscores their importance and ensures a strong finish.
A well-rounded evaluation is key. It involves a nuanced exploration of all
viewpoints within the argument. However, distinguishing your
commentary requires articulating a definitive judgment in the conclusion,
demonstrating your ability to weigh evidence and make informed
decisions.

CRITERION F: PORTFOLIO [3 MARKS]

This criterion is an evaluation of your entire portfolio, not each

commentary individually. It is added to final score.
Avoid using the same news source for multiple commentaries
Select articles published within the last year when writing commentary.
Each commentaries must be under 800 words,
Adhering to these guidelines guarantees you three marks, emphasizing
the importance of following instructions for a successful portfolio.
MICRO COMMENTARY EXEMPLARS
Clicking on the images below will take you to a past students’
commentary on that topic.

All the commentaries that are shared scored a 7 on their final IA

portfolio. Below are some key aspects to look for:

Structure and Clarity: How well the commentary is

organized and if the arguments are presented in a clear,
logical manner.
Application of Economic Theories: The accuracy and depth
of economic concepts and theories applied to real-world
situations.
Integration of Diagrams: The relevance, accuracy, and
explanation of diagrams used to support the analysis.
Use of Evidence: The effectiveness in using data, quotes, and
examples from the article to support arguments.
Critical Analysis: The ability to analyze economic outcomes,
considering various stakeholders and potential impacts.
Evaluation: How well different perspectives are considered,
leading to a balanced evaluation and a reasoned conclusion.