Well, I did it. Below is my sample commentary for year one IB students. I do owe some credit to a past student of mine, Maren, whose article I stole and whose own commentary I adapted to write this one. Introduction of theory: Demand, supply and elasticity are basic economic concepts that when applied to different markets can help governments and individuals make informed decisions about things as basic as where to live and how to collect taxes.
Analysis: Demand is a curve showing the various amounts of a product consumers want and can purchase at different prices during a specific period of time. Supply is a curve showing the different amounts of a product suppliers are willing to provide at different prices. Equilibrium price and quantity are determined by the intersection of demand and supply. Price elasticity of demand PED indicates the responsiveness of consumers to a change in price, and is reflected in the relative slope of demand.
Demand for housing in Geneva Dg , is high because of the many employment opportunities there. Demand for housing in Geneva is inelastic, since renters in Geneva are less responsive to changes in rent compared to AIR, perhaps due to the perceived necessity of living close to their work.
Demand for housing in AIR Da is low, but supply is high due to the abundance of land. AIR is a rural canton with few jobs, therefore fewer people are willing and able to live there than in Geneva.
Since living in the countryside is not a necessity, demand is relatively elastic, or responsive to changes in rent. The effect of a tax on property is a shift of the supply curve to the left and in increase in rents as landowners, forced to pay the canton a share of their rental incomes, raise the rent they charge residents. However, the decrease in quantity demanded is proportionally smaller than the increase in the price caused by the tax, since demand for housing in Geneva is highly inelastic, or unresponsive to the higher price caused by the tax.
Renters in AIR are far more responsive to higher rents caused by property taxes, perhaps because living in AIR is not considered a necessity and there are more substitutes for rural cantons to live in.
Evaluation: A tax decrease in AIR could lead to a significant increase in the number of people willing to live there, since renters are highly responsive to lower taxes. To some extent, housing in AIR and Geneva are substitutes for one another. Lower taxes in AIR would make living there more attractive, and subsequently the demand for housing in Geneva would fall putting downward pressure on rents there. People would move to AIR, attracted by lower rents, and commute to work in the cities.
According to the article, this is already happening:. There are many determinants of demand for housing in Switzerland, the primary one being location. High rents in Geneva are explained by the high demand for and the limited supply of housing. On the other hand, residents in AIR enjoy much lower rents, due to the weak demand and abundant land. Suggesting alternative solutions;. Remember you are not trying to just rephrase and write another article. Do not rephrase the sentences from your article.
An analysis is only about developing the ideas that relate to your topic. Now it's time to go deeper into your topic and explain with clearer constructs. For deeper construction, you can make assumptions from your theory. Basically, you are going to be fully explaining the theory and how the theory is related to your article or also the linkages between the theory and its aspects.
Drawing the conclusion:. Coming to a conclusion is based on the assumptions you made throughout your essay. It is all about evaluating and theorizing the outcomes that could happen.
You should be making judgements in your conclusion based on some reasoning and the assumptions you make. To make judgments and draw conclusions, you should fulfil the following aspects to fetch yourself some good grades:.
Effects in the long term and short term;. Advantages and Disadvantages;. Alternative solutions;. Check out this link so that you can go through the example of commentary with a good evaluation of their scenario. Note: When you follow these steps, I have explained so far, you are almost done! You just have to make sure if you met all the requirements by looking into the criteria. Though we just went through every possible thing required, for a better idea, you can go through the criteria below to evaluate your own work:.
Make sure to come back to this IB Economics Internal Assessment Guide as often as you can to make sure you don't miss out on these easy points. Put yourself in the shoes of renowned economists. You want to make terms like externalities, quota, trade barriers, foreign investment, etc, a part of your daily vocabulary. Don't shy away from joining various social groups where people chat about these topics. Not only will it help you more than reading various IB Economics Internal Assessments online but it will better prepare your finals.
Login here. I like the way Mitch talks about Physics' concepts and jokes to make this "dry subject" easier to learn. Already Registered? IB trolling as usual Ok weirdly placed memes aside, here are a few things to remember when picking your article. According to the Bureau of Statistics, the number has increased by 18 percent to reach , Japan had started the negotiation expecting to offer the EU a version of the…But they found the Europeans were much more interested in lowering tariffs on cheese, chocolate and wine than on basic agricultural crops… Offering concessions on some cheeses was relatively straightforward…Offering tariff concessions to the EU could scupper its efforts to revive TPP…So JEEPA ended up with a compromise: a duty-free quota.
Either way, your teacher has the last say in approving your Economics IA article. Share on Facebook? Cancel Comment Wait a second Check your emails to complete your sign up! Third Culture Kids and the IB. Don't miss out on new resources - join the newsletter! Make sure you never miss out on the most important resources you need right now with our monthly free resource newsletter! Revision Courses. Online Tuition. Get your support started today. In-person and online IB courses at key stages of the academic year.
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