IB Economics Internal Assessment guide

What this criterion assesses

Relevant, accurate and correctly labelled diagram(s) included, with a full explanation. The best commentaries use dynamic diagrams — showing the shifts and movements the article describes — and explain every element that appears in them.

Mark band descriptors

Criterion A: Diagrams (0–3) — the extent to which the student is able to construct and explain diagrams relevant to the article:
- 0: The work does not reach a standard described by the descriptors below.
- 1: Relevant diagram(s) are included but not explained, or the explanations are incorrect.
- 2: Relevant, accurate and correctly labelled diagram(s) are included, with a limited explanation.
- 3: Relevant, accurate and correctly labelled diagram(s) are included, with a full explanation.
Note: Diagrams should be dynamic where the article describes a change (showing shifts/movements of the relevant curves), drawn by the student, and fully explained in the context of the article — as a rule of thumb, everything included in a diagram needs to be explained.

What this criterion assesses

Terminology relevant to the article used appropriately throughout the commentary. The goal is fluent, correct use of the language of economics in context — not defining every term.

Mark band descriptors

Criterion B: Terminology (0–2) — the extent to which the student uses appropriate economic terminology relevant to the article:
- 0: The work does not reach a standard described by the descriptors below.
- 1: Terminology relevant to the article is used appropriately in places.
- 2: Terminology relevant to the article is used appropriately throughout the commentary.
Note: Definitions are not a formal requirement; the correct, sustained use of relevant terminology is what is assessed.

What this criterion assesses

Relevant economic theory applied to the article throughout the commentary, with effective economic analysis — the theory explains the events in the article rather than being recited in the abstract.

Mark band descriptors

Criterion C: Application and analysis (0–3) — the extent to which the student recognizes, understands and applies economic theory in the context of the article:
- 0: The work does not reach a standard described by the descriptors below.
- 1: Relevant economic theory is applied to the article in a limited way.
- 2: Relevant economic theory is applied to the article. Some analysis is included.
- 3: Relevant economic theory is applied to the article throughout the commentary. Effective economic analysis relating to the article is included.

What this criterion assesses

One of the nine key concepts (scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, intervention) identified and its link to the article fully explained — used as a lens framing the analysis, not mentioned in passing.

Mark band descriptors

Criterion D: Key concept (0–3) — the extent to which the student recognizes, understands and links one of the nine key concepts to the article:
- 0: The work does not reach a standard described by the descriptors below.
- 1: A key concept is identified.
- 2: A key concept is identified and its link to the article is explained.
- 3: A key concept is identified and its link to the article is fully explained.
Note: Each commentary must use one of the nine prescribed key concepts (economic well-being, interdependence, scarcity, efficiency, choice, intervention, change, equity, sustainability), and each commentary in the portfolio must use a different one.

What this criterion assesses

Judgments supported by effective and balanced reasoning — for example short-run vs long-run implications, impacts on different stakeholder groups, assumptions behind the theory, and a prioritized, substantiated conclusion. Evaluate what is in the article; do not invent alternative policies the article never mentions.

Mark band descriptors

Criterion E: Evaluation (0–3) — the extent to which the student's judgments are supported by effective, balanced and reasoned arguments:
- 0: The work does not reach a standard described by the descriptors below.
- 1: Judgments are made that are unsupported, or supported by incorrect reasoning.
- 2: Judgments are made that are supported by limited reasoning.
- 3: Judgments are made that are supported by effective and balanced reasoning.
Note: Balanced reasoning can include short-run versus long-run implications, effects on different stakeholder groups, assumptions made, and prioritization of arguments. Students should evaluate the policy or events in the article rather than suggest alternative policies the article does not mention.