Grade 11, first year DP students, are just finishing their first section of the Economics course, Microeconomics. They have studied the basis of supply and demand in markets, elasticity of goods and services, government intervention and market failure. In addition, the HL student learned the Theory of Firm theories. All are gearing up for mid-term exams and for their first IA. For the Internal Assessment or IA in economics enables students to demonstrate the application of their knowledge and understanding of economic theories in the real world. Students are required to select three economic articles throughout their two year course time and write commentaries on these articles. Each commentary needs to include diagrams, economic terminology, application of theories and analysis of the economic theories. Finally, they should conclude with their own evaluation and synthesis of the theory. Articles are chosen from various newspapers and magazines.
Grade 12, second year DP students, are now finished with all four sections of the Economic course work, Micro, Macro, International and Development. They are gearing up for their mock exam in March and are finishing their last IA. They will soon be researching a development country project comparing and contrasting a developed country with a developing country. This project will require them to apply economic development measurements, calculating dependency ratio using HDI figures and illustrate the countries’ income distribution by using the Gini-coefficient and drawing the Lorenz curve.