Paper 1: Extended Response Paper
Higher Level & Standard Level
Higher Level & Standard Level
Paper 1 is the same for SL and HL students. However, the questions that require extended responses may be the same as, or different from, the SL paper. Questions in this paper are drawn from the four units of the syllabus including the HL extension material and topics studied at HL only.
Duration: 1 hour 15 minutes
Weighting SL: 30%
Weighting SL: 20%
The structure of this paper is the same as the HL paper 1 but the questions that require extended responses may be the same as, or different from, the HL paper 1 questions.
Examination advice
Spend a shorter time on part (a) (about 25 minutes) than on part (b) (about 50 minutes). This is partly to reflect the marks awarded (10 marks for part (a) and 15 marks for part (b)). In addition, part (b) needs more thought and planning to incorporate real-world example(s) and to provide a balanced evaluation.
Overall advice for writing answers for both part (a) and part (b)
Specific advice for writing the answers to part (a)
Specific advice for writing the answers to part (b)
To meet the highest mark band for (b):
Duration: 1 hour 15 minutes
Weighting SL: 30%
Weighting SL: 20%
The structure of this paper is the same as the HL paper 1 but the questions that require extended responses may be the same as, or different from, the HL paper 1 questions.
- Students answer one question from a choice of three.
- The questions are each subdivided into two parts, (a) and (b).
- Questions in this paper are drawn from the four units of the syllabus excluding the HL extension material and topics studied at HL only.
- The command terms used in each question indicate the depth required.
- Marks are allocated using a combination of an analytic markscheme and markbands.
Examination advice
Spend a shorter time on part (a) (about 25 minutes) than on part (b) (about 50 minutes). This is partly to reflect the marks awarded (10 marks for part (a) and 15 marks for part (b)). In addition, part (b) needs more thought and planning to incorporate real-world example(s) and to provide a balanced evaluation.
Overall advice for writing answers for both part (a) and part (b)
- Plan the answer for about five minutes by writing down the terms, concepts and theories that need to be used, and roughly sketch the appropriate diagrams.
- Answer the question asked (focus on it) and not the question that you would like to have been asked.
- Avoid irrelevance. Students should not repeat old essays or sets of notes—no matter how well they have been memorized.
- As an introduction, define, briefly, the key economic terms that appear in the question. Point out any ambiguities in the question (eg “best” means “best for whom or on what criteria?”). Repeating the question is unnecessary.
- Draw large diagrams with a dark pencil and use a ruler for axes. Label fully, but titles are not necessary. Explain and use the diagram in the analysis.
- Start a new paragraph for each new point. Each separate argument or explanation deserves its own paragraph. Keep sentences short.
- A logical argument or explanation should be constructed, and nothing should be taken for granted. In other words, every point should be justified or explained.
- Most statements should also be qualified (eg with usually, probably, perhaps). For example, “Nothing is certain in life except death and taxes” (attributed to Benjamin Franklin).
- Although the intelligent layperson should understand the writing, colloquial or emotive language should be avoided as far as possible. Students should be encouraged to write as though they are economists, not journalists or politicians. For example, instead of “the economy surges”, write “there is a rapid growth in real gross domestic product (GDP)”; instead of “the government is crazy to spend so much”, write “the government will face the problem of a budget deficit”; instead of “the economy will crash”, write “the economy may enter a recession”.
- Use acronyms carefully. Do not use abbreviations excessively in the writing. For example, “GDP” and “AD”, etc, are acceptable, but using “P” for price could lead to it being confused with product.
- It is not advisable to use numbered lists or bullet points unless there is not enough time to finish writing an answer with proper sentences and paragraphs.
- Read the question again once the answer is written. Sometimes one line needs to be added to present a clear answer to the question asked.
Specific advice for writing the answers to part (a)
- Almost all answers will require at least one diagram, and possibly two or even three diagrams. The analysis required can be built around the diagram.
- Answers should avoid being repetitive. Sometimes students write a conclusion that simply repeats what has been written before. A conclusion is often unnecessary, especially if it only summarizes what has already been stated.
- the specific demands of the question are understood and addressed
- relevant economic theory is fully explained
- relevant economic terms are used appropriately throughout the response
- where appropriate, relevant diagram(s) are included and fully explained.
Specific advice for writing the answers to part (b)
- Start the answer to part (b) on a new page.
- Definitions, theory and examples that have already been given in part (a) can be referred to (without repeating) in part (b).
- In the introduction, new terms in the question that were not in the part (a) question can be defined. In addition, and if possible, state any limitations to the answer (eg only the domestic economy or only short-run effects will be considered).
- Real-world example(s) must be included. The example(s) should not only be mentioned at the end. The analysis and the evaluation should be woven around the example(s) and the example(s) can be used to substantiate the assertions. (See teaching point 1.)
- Students need to study several real economies during the course. It is advisable to know a great deal about both an economically least developed country (ELDC) and an economically more developed country (EMDC). It is essential to relate all theories to what is happening in the real world.(See teaching point 1).
- Part (b) must also include an evaluation or synthesis. Both sides of controversial issues should be addressed. Every argument has a counterargument. Every loss is counterbalanced by a gain. Every policy has benefits and problems. (See teaching point 2.)
- Although a question might seem to require a final opinion (eg “Evaluate the effectiveness of monetary policy …”), it is acceptable to conclude that, in this example, it is effective in some cases and ineffective in others. For most questions, there is no single “right” answer. Any opinion is valid provided that it is substantiated by analysis and/or a real-world example.
- A summative conclusion is important for part (b). The most important points made may be provided here. (See teaching point 3.)
To meet the highest mark band for (b):
- the specific demands of the question are understood and addressed
- relevant economic theory is fully explained
- relevant economic terms are used appropriately throughout the response
- where appropriate, relevant diagram(s) are included and fully explained
- the response contains evidence of effective and balanced synthesis or evaluation
- a relevant real-world example(s) is identified and fully developed to support the argument.
Paper 1 Assessment SL
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Markscheme for Paper 1 Assessment SL
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Paper 1 Assessment HL
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Markscheme for Paper 1 Assessment HL
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Teaching point 1
Students need to study several real economies and current real-world issues during the course as part of the inquiry-based approach to teaching and learning. It is advisable to know a great deal about both an ELDC and an EMDC. It is essential to relate all theories to what is happening in the real world so that models are not only studied in the abstract. Useful sources for information and data about specific economies and issues are https://data.worldbank.org/ and https://stats.oecd.org/#
Teaching point 2
Although students should be taught how to carry out a full evaluation, they should try not adopt a generic approach. Too many evaluations follow a predictable pattern of “These are the stakeholders—consumers, firms and government—and this is how they are affected” or give pre-learned lists of “Arguments for are …” and “Arguments against …”. Ideally, the evaluation and the analysis will be related specifically to the real-world example(s) used and to the question asked.
Teaching point 3
In the summative conclusion, the student can display original thinking about the evaluation. For example, “The least effective argument for using expansionary fiscal policy in this case is … whereas the strongest reason in favour is …”. Or the student might assess how different stakeholders benefit or lose from a policy to different degrees in the real-world example studied. Or the student might consider that, given the fragility of an economy that is referenced, the most effective policy in the short run might not be as effective in the long run.
Students need to study several real economies and current real-world issues during the course as part of the inquiry-based approach to teaching and learning. It is advisable to know a great deal about both an ELDC and an EMDC. It is essential to relate all theories to what is happening in the real world so that models are not only studied in the abstract. Useful sources for information and data about specific economies and issues are https://data.worldbank.org/ and https://stats.oecd.org/#
Teaching point 2
Although students should be taught how to carry out a full evaluation, they should try not adopt a generic approach. Too many evaluations follow a predictable pattern of “These are the stakeholders—consumers, firms and government—and this is how they are affected” or give pre-learned lists of “Arguments for are …” and “Arguments against …”. Ideally, the evaluation and the analysis will be related specifically to the real-world example(s) used and to the question asked.
Teaching point 3
In the summative conclusion, the student can display original thinking about the evaluation. For example, “The least effective argument for using expansionary fiscal policy in this case is … whereas the strongest reason in favour is …”. Or the student might assess how different stakeholders benefit or lose from a policy to different degrees in the real-world example studied. Or the student might consider that, given the fragility of an economy that is referenced, the most effective policy in the short run might not be as effective in the long run.