IB Economics HL Internal Assessment Example

Two relevant diagrams are included and both are accurately labelled and directly support the argument.

The tariff diagram correctly shows the price, import, and welfare effects, including deadweight loss and government revenue.

The AD/AS diagram is also precise and clearly connects higher import costs to cost-push inflation and lower real output.

Both diagrams are explained in full rather than simply described.

The diagrams are strong overall, but the analysis would be even sharper with a brief explicit comparison of how the micro and macro effects interact.

A small amount of added nuance about firms’ ability to substitute away from tariffed inputs would make the SRAS explanation even more convincing.

Economic terminology is used accurately and consistently throughout the commentary.

Relevant terms are integrated into explanation rather than being listed mechanically.

The language is precise and appropriate to the topic, including concepts such as deadweight loss, cost-push inflation, tariff pass-through, and purchasing power.

The commentary could occasionally deepen precision by distinguishing between related terms more carefully, such as consumer incidence, pass-through, and tariff burden.

A few evaluative claims would be stronger if terminology were linked more explicitly to the scale or conditions of the effect.