IB Economics SL Internal Assessment Example

The student includes a relevant tariff diagram that is well chosen for the issue under discussion and shows the main market effects visually.

The student's diagram explanation identifies the intended welfare changes, including tariff revenue and deadweight loss.

The diagram contains an important import-calculation error: imports should be shown as $Q3-Q1$, not $Q1-Q3$.

Some labels and welfare areas are not fully clear or consistent, so the diagram is not yet fully accurate and correctly labelled.

The written explanation does not fully distinguish between transfers, revenue, and deadweight loss.

The student uses relevant economic terminology consistently and in ways that support the commentary.

Terms such as tariffs, protectionism, consumer surplus, producer surplus, tariff revenue, welfare loss, allocative inefficiency, and retaliation are generally applied appropriately.

The student's terminology helps the discussion move beyond description into economic analysis.

The import expression is reversed, which weakens the precision of the terminology.

Some quantity labels are not kept fully consistent throughout the commentary.

At a few points the wording is too strong, especially when describing the full value of imports as if it must all be lost sales.