Your IA in Economics is an important component of the course. You are required to write four commentaries on news reports about economic developments to demonstrate your understanding of economics concepts and theories. Our goal is to complete one commentary by the end of September, October and December with the final one focusing on Development Economics in early January.
Resources:
IA Guide
There is also an excellent article on the Moodle Site and an exemplar for you to view.
See Moodle: “Internal Assessment – how to get the best from it”
Practice Commentary Number 1
- Become familar with the rules and regluation governing the IA in Economics
- Read exemplars
- Foucs on the major concepts of Section 2 or 3 and research to find a suitable article
- Bookmark your article on Diigo and tag it “IA 2012″
- In the Description you need to identify the following so that I can then approve your article choice:
- The concepts or theories you will use to explain the article (2 concepts would be best)
- The exact diagram you will use e.g leftward shift of the demand curve
- Which CRAMPSS you will use to evaluate.
- If I think you article has potential if will give it the “Like ” icon.
- Here is an example of an article that is ideal for an IA in Macroeconomics: It is not too long, it only reports news, it focuses on a major topic, it explains the causes and consequences of the development and the what the government is trying to do to reach its macroeconomics goals. There is potential to evaluate how this impacts stakeholders.
Posted in Assessment.
By Dr Peter Anthony
– May 20, 2011
John Maynard Keynes is considered the father of macroeconomics and his theories have recently enjoyed a renewed level of interest in the context of the Global Economic Crisis (GEC). There has even been a rap song dedicated to the differing opinions between Keynes and the less famous Hayek by two clever artists who produce EconStories. This site gives you a very details explaining of the lyrics.
Not only will you be able to understand the lyrics of ”Fear the Boom and Bust”, Sections 3.3 to 3.5 will explain various macroeconomic models and outline the enduring debate between neoclassical economists and Keynes and their solutions to the threats posed by inflation and unemployment.
Activities:
1. PP Lecture on Section 3.3 to 3.5 Macroeconomic Models
2. Commanding Heights
3. Government Spending Mindmap Activity:
Use the mind mapping tool to build a diagram of . The more details the better.
Here is my example.
4. Reading the news:
- As you study Section 3 your understanding of global economic developments from a macroeconomic perspective should improve dramatically. Read this article on the challenges facing Chinese policy makers and on your blog identify at least 10 terms or concepts that you now understand. Bullet points are fine. Here is an example from the first few lines: “Cool inflation” means that China is concerned that average prices levels are rising too quickly as the economy is overheating. You might also check on terms you are not sure about e.g. “reserve ratios”.
5. Unemployment and Inflation: Using Wikispaces to collaborate.
Class 4
Class 8
6. Project Based Learning: The President’s Delmma
7. Triple A Reading
Hopefully a new video will be released on the Global Financial Crisis called Inside Job.
Posted in Section 3, Uncategorized.
Tagged with AD, AS, Commanding Heights, GDP, GDP per capita, IB Economics, Inflationary gap, Keynes, LRAS, macroeconomics, models, Neoclassical, Recessionary gap, Section 3, SRAS, teaching idea.
By Dr Peter Anthony
– March 5, 2011
A DIY Data response question.
1. Think of a topic of interest that relates to economics terminology and provides opportunities for diagrams and evaluation.
2. Find a news article and write questions following the outline below:
(a) Define the following terms indicated in bold in the text:
(i)
[2 marks]
(ii)
[2 marks]
(b) Using an appropriate diagram, explain . . . [4 marks]
(c) Using an appropriate diagram, explain . . . [4 marks]
(d) Using information from the text/data and your knowledge of economics,
evaluate. [8 marks]
3. Write a marking guide for your data response test.
This should be in the form of bullet points etc.
4. Find a partner and complete each other’s data response, then grade it and provide feedback.
Posted in Economics in the News.
By Dr Peter Anthony
– February 22, 2011
Macroeconomics studies the economy as a whole. While micro examined individual consumers and firms, macro investigates all consumers, all firms and owners of resources and markets. Instead of demand and supply we will study Aggregate Demand and Aggregate Supply. You will have the opportunity for a detailed examination of the major macroeconomic issues facing countries’ economic growth, economic development, unemployment, inflation and income distribution.
Government policy plays a vital role in the economy as it seeks to achieve the following macroeconomic goals:
- full employment
- stable prices
- economic growth
- fair distribution of income
- external balance between overseas trade and payments
The economic strategies available to governments—demand-side policies, supply-side policies, direct intervention— to achieve these goals are introduced and evaluated. These policies are applicable to almost all areas of macroeconomics, international economics and development economics.
3.1 Measuring national income
3.2 Introduction to Development
- Understand the Circular flow of income
- Apply Different Methods of Measurement—income, expenditure and output
- Distinction between: gross and net national and domestic nominal and real, total and per capita
- Distinguish between growth and development
Activities:
- View the PP Lecture on Section 3
- Read Triple A Macroeconomics Module 3
- Read this article or this one and write a blog post that identifies five major ideas of the analysis. (This is a difficult article but it provides a insightful analysis of the Japanese economy. You are not expected to understand it all at this stage of your study of economics.)
- Develop a list of criteria to determine the “best” economy in the world
- In your group decide on the three most important criteria and then decide on the three economies that your rate as among the best in the world.
- Present your data to the class in any way. You can use any of the following Web 2.0 tools.
- Two lessons for research and preparation of the presentation. Presentations following. Aim for 5-7 minutes.
- Write a brief blog entry that provides a link to your presentation. (Slideshare if you made a PP)
- Blog Entry: After viewing all the presentation, write a post identifying your selection for the world’s best economy. Explain your choice. Also identify the one economic indicator that you found most compelling. Include this data in your post.
Posted in Section 3.
Tagged with development economics, GDI, GDP, GDP per capita, HDI, HPI, IB Economics, macroeconomics, national income, Section 3.
By Dr Peter Anthony
– February 20, 2011
Posted in Uncategorized.
By Dr Peter Anthony
– February 14, 2011
Triple A are about to publish a new glossary pack to help students like yourself master economic terminology, an important learning outcome of the course. I have had a small role in the development of this resource and the Triple A and myself would greatly appreciate your feedback. You will find the link on CAmoodle.
Write your constructive comments and suggestions below.
Posted in Uncategorized.
By Dr Peter Anthony
– February 2, 2011
Guidelines for your discussion seminar:
Attitude
One of the most important elements in running a successful seminar is the personal approach of the leader or group leading the seminar. It is important to note that the leader’s attitude can affect the dynamics of the group.
There should be some level of excitement or at least enthusiasm, confidence, respect and efficiency.
Remember the goal of the seminar.
The nature of a good seminar discussion is interaction between the members of the group. Make sure everyone understands the goals of the class, what is expected of the student, and what the students can expect of you. If communication exists and the students understand the expectations and are confident they can meet those expectations, the sessions will be far more relaxed and will invite discussion of interesting ideas.
Trust
To make a seminar work you must create an atmosphere of trust between you and your classmates as well among the students themselves. You all know each other very well but that does not necessarily make it easier to establish an atmosphere where everyone is open to ideas, listens carefully and actively, is sensitive to students’ feelings and encourages input.
The leader or group should facilitate the discussion so that everyone has an equal chance to be heard and the topic stays on track but factual errors are not left uncorrected.
Preparation
A good seminar discussion needs planning – don’t try to ‘wing it.’
Your level of preparation is readily apparent.
Be knowledgeable about the material and expect to answer factual questions. During your preparation consider which points are useful to the class and what information is needed for the course. You need to consider everything in light of the goal you have for the seminar.
You can arrange the classroom furniture so that students can participate equally and so that small groups can easily move and form if needed.
Participation Problems
- The quiet student
One way is to break the class up into small groups which will provide a more comfortable situation for her or him to speak in front of fewer people.
- The domineering student
As the leader, you can ask for those students who have already contributed to hold back until others have had a chance.
Summary
- It is important to summarize the ideas that were raised throughout the discussion at the end of the class as this will help the students organize the issues raised and to create a perspective.
Posted in Uncategorized.
By Dr Peter Anthony
– January 26, 2011
A major component on the Section 5 is the student led seminar that takes a case study approach to understanding development economics.
Format:
Your group will lead a seminar on development economics, as it is relevant to a developing economy of your choice.
The seminar will occupy one class period (55 minutes)
Required:
- Data that provides an economic overview of the country
- Questions that will require the class to analyze this data
- Identification of the particular barriers faced by the economy. You can arrive at this in a number of ways:
- oral presentation to the seminar
- sources presented to the seminar that enable them to identify the barriers themselves
- A discussion of possible development strategies to overcome the barriers as identified lead by the group. You will provide the article on which this discussion will focus.
- A blog reflection that will be commented on by the seminar leaders.
Resources:
How to conduct a successful seminar discussion.
See resources on the Section 5 Blog post.
Posted in Section 5.
By Dr Peter Anthony
– January 26, 2011
IB Course Guide
“The purpose of this section is to identify and explain the importance of markets and the role played by demand and supply. The roles played by consumers, producers and the government in different market structures are highlighted. The failures of a market system are identified and possible solutions are examined.
The concepts learned here have links with other areas of the economics syllabus; for example, elasticity has many applications in different areas of international trade and development.”
Continued…
Posted in Section 2, Teaching Ideas.
Tagged with advertising, externalities, IB Economics, market failure, Section 2, subsidy, Taxation, taxes, teaching idea.
By Dr Peter Anthony
– January 25, 2011
Learning Outcomes:
- Explain concepts and theories of Developmental Economics
- Apply these concepts and theories to an economy as a case study of Development Economics
- Evaluate strategies to encourage growth and development
Components
1. Individual: Self-directed reading of Triple A or McGee
2. Group: Conduct an analysis of an economy of your selection that applies the concepts and theories of Development Economics. Your group will present a seminar to the class on your developing economy. More details here.
Topics
5.1 Sources of Economics Growth and/or development
5.2 Consequences of Growth
5.3 Barriers to Economics Growth and/or development
5.4 Growth and development strategies
5.5 Evaluation of growth and development strategies
Resources:
Characteristics of Developing Countries:
The Bottom Billion
Case Study of Zimbabwe
Video
UN Millennium Project
The Earth Institute
Jeffrey Sachs and “The End of Poverty”
At 5.40 Sachs introduces the concept of extreme poverty
At 19.07 He poses the question “What do we in the West know?”
Guardian Development
Posted in Section 5.
Tagged with development economics, FDI, Microcredit, MNCs, Sources of Growth.
By Dr Peter Anthony
– December 30, 2010
