How to write an Econs IA
850 words, 3 IAs, 9 key concepts and an endless range of articles to choose from.
How does one go about writing an Economics IA? Today’s guide will show you a step by step process on how to:
Tell the difference between a good and a bad article
Structure a good IA from introduction to conclusion
Write your IA in a critical and evaluative manner
All courtesy of the tutors at WellPrepped 😁 (want us to personally vet your IA? contact us today 😎)
Let’s do this with an example IA. We will focus on IA 1, which is usually a Microeconomics IA on the key concept of Government Intervention.
1. Telling the difference between a good and bad article
The key to a good IA is a good article. A good article is composed of 4 important things: 1. numerical statistics on the economic costs of the issue, 2. statements by officials on the gravity of the issue, 3. a clear outline of the economic policies used to solve the issue and 4. mentions of possible limitations and strengths of the policy.
We have selected 2 example articles on our issue of choice: A sugar tax imposed by the Malaysian government in 2019 to combat obesity.
Comprehensive numerical statistics on the economic costs of issue
“ More than one third (36 per cent) of students have sugary drinks at least once a day, and the average daily sugar intake for adolescents has increased from seven teaspoons in 2012 to 10 teaspoons in 2017.”
“In 2017 overweight and obesity accounted for 13.3 per cent of total health costs, 0.54 per cent of GDP or US$1.7 billion (RM7.04 billion)”
Clear statements by officials on the gravity of the issue
“ This has resulted in Malaysia becoming the fattest Asian country in the world, and with the second highest child obesity rate among children in the region aged five to 19 years. “Consuming sugary drinks contributes to weight gain and obesity, and then a range of non-communicable diseases such as diabetes, heart disease, stroke and cancer.”
“This does not include the indirect costs of lost labour productivity due to absenteeism or medical leave, a cost that Malaysia can ill afford,” said Clark-Hattingh and Dr Lo.
A clear outline of the economic policies used to solve the issue
“Malaysia’s move to impose a tax on sugary drinks”
“Clark-Hattingh and Dr Lo said the introduction of an excise tax of RM0.40 per litre on sugary drinks is vital”
“among the measures that could benefit Malaysia include high-quality, healthy school meals, compulsory nutrition labelling on food and drink products, health communication campaigns, and more stringent regulation of food and drinks marketed to children.:
Various mentions of possible limitations and strengths of the policy
“Noting the RM0.40 per litre proposal will also raise significant revenue that can be re- invested in programmes to improve nutrition and health, they argued that short-term additional measures are also necessary.”
“Milk-based drinks and fruit juices that contain high amounts of sugar also contribute to overweight and obesity and consumption of these also needs to be limited,” Clark- Hattingh and Dr Lo said.
“Over the long term, the tax’s adequacy ought to be reviewed up to RM1 per litre, which would be more in line with international benchmarks and the available evidence on the effectiveness of SSB taxes.” “A robust SSB tax coupled with complementary measures such as those outlined above will deliver tangible improvements to the health, productivity and well-being of Malaysia’s children.”
ARTICLE B: https://themalaysianreserve.com/2019/07/01/sugar-tax-starts-today/
Limited numerical statistics on the economic costs of issue
“nearly one in two Malaysians are overweight or obese.”
“According to the World Health Organisation, 13.3% of Malaysians are obese and 38.5% overweight, in addition to the highest proportion of diabetics (14.9%).”
“With more than half of the population deemed as unhealthy, the cost of healthcare is enormous for the country, with estimates ranging between US$1 billion (RM4.15 billion) and US$2.1 billion based on a 2017 study by the Asia Roundtable on Food Innovation for Improved Nutrition.”
Vague statements by officials on the gravity of the issue
“The government has pushed the idea to impose a sugar tax as part of its efforts to promote a healthy lifestyle as Malaysia is reported to be the fattest country in South-East Asia with obesity and diabetes levels on the rise.”
An outline of the economic policies used to solve the issue (this is acceptable)
“An excise tax of 40 sen per litre is levied on sweetened beverages with more than 5g of sugar or sugar-based sweetener per 100ml. This includes carbonated, flavoured and other non-alcoholic beverages. Juice or vegetable-based drinks with over 12g of sugar per 100ml will also be taxed.”
Limited and vague mentions of possible limitations and strengths of the policy
“Detractors and critics of the tax, however, opined that it would not be enough to make an impact, with reactions ranging from approval and concern to effectiveness and scepticism.”
“He also said beginning next year, the government will use the revenue collected from this tax to provide free and healthy breakfast for all primary school children.”
As seen above, the differences between a good and limited article are stark, and having a good economics IA article is extremely important because of what an economics IA requires: a detailed and applied economic analysis of real world issues. Without clear evidenced statements and statistics to quote from, you’ll lack evidence to analyse when trying to write your Economics IA. Choosing a limited article is akin to trying to make a pizza, but only buying pepperoni slices. No pizza bread, no tomato sauce, just pepperoni slices. That certainly makes things difficult doesn’t it? 😩
2. Structuring an Economics IA from introduction to conclusion
Structure is everything. Just like how no one likes a star shaped pizza, no one would like a poorly structured Economics IA either. Here’s a good structure to follow:
PARAGRAPH 1: Introduction
Introduce problem and talk about its significance
Define key terms
Define key concept (Government Intervention – whether or not the government should intervene in the market)
Talk about the policy introduced by the government
INSERT RELEVANT ECONOMIC DIAGRAM ILLUSTRATING ECONOMIC ISSUE
PARAGRAPH 2: Issue
Textbook economic analysis on the issue with references to the article using quotes
PARAGRAPH 2B: talk about the third party negative externalities of cigarette consumption (only for market failure)
Identify the third party that is being harmed
Talk about the specific negative third party effects that are present as a result of the consumption
INSERT DIAGRAM ILLUSTRATING POLICY EFFECT
PARAGRAPH 3: Solution
Introduce government policy with references to the article and the diagram.
PARAGRAPH 4: Benefits
Analyse one benefit of the policy, with reference to article’s quotes
PARAGRAPH 5: Disadvantages
Analyse one limitation of the tax, with reference to article’s quotes
PARAGRAPH 5a: Benefits/Disadvantages OR Key Concept Paragraph
A key concept paragraph is good for showing your IA’s relevance to the key concept. Use this paragraph to evaluate your economic issue in the context of your key concept. You can start off this paragraph with “In the context of (key concept), the government should/should not…”
If you happen to have an extra 100 words, consider adding an extra benefit or disadvantage paragraph depending on whether or not you believe the policy is effective/ineffective.
PARAGRAPH 6: Conclusion
Weigh the pros and cons and find a hinge for the whole essay
A hinge the key to a good evaluation. A hinge is the factor that determines whether or not your policy will be effective or ineffective. Ask yourself what that factor is. Crafting a good hinge sentence looks something like “The success of the policy is entirely dependent on (hinge factor), and the policy would be effective if combined with other policies and if the government is able to ensure (hinge factor)”
3. Writing your IA in a critical and evaluative manner
This is often the tricky part of your Economics IA.
An evaluation often focuses on the what-ifs, the clauses required for a policy to be effective, and identifying the circumstances which make certain economic issues particularly severe. Having critical evaluation means being able to integrate your textbook content with the real-life quotes taken from the article. With the addition of the key concept, this also means being able to discuss the relevance/effectiveness of certain policies within the requirements of your chosen key concept. Do your best to evaluate not just in your conclusion, but in every paragraph you write. A good tip would be to end each paragraph with a sentence of evaluation.
The Economics IA is probably something you’re embarking upon for the first time. But it doesn’t have to be arduous, difficult or daunting.
Our tutors at WellPrepped are available and equipped to help you whether you’re struggling to find an article, or simply want a second opinion on your IA.
You only do as well as you’re prepared.
Contact us for a trial lesson via our website, drop us a dm @wellprepped.sg or simply call us at 8801 1644.
