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Paper 2 Overview
Paper 2 Overview
Breakdown of marks for paper two responses
Breakdown of marks for paper two responses
Part (a) [ 2x2= 4 marks]
The two questions in part (a) require students to define two words from the text, with each definition worth two marks. Responses should include a one or two sentence definition and an example if appropriate.
Part (b) [5 marks] and parts (c - f) [4 marks each]
Part (b) involves calculation and probably the use of a calculator. Careful to always give the units in the answer and to make sure any number has the correct number of zeros. Give numerical answers to two decimal places, as stated on the front of the examination paper.
Parts (c-f) A typical question in this section asks students to draw a diagram and then explain their diagram. An example might be: 'Using an international trade diagram, explain the impact on the Kenyan government of implementing a tariff on steel imports'.
Examiners will normally award two points for a correctly drawn diagram (including correct labelling) and two points for a short, precise explanation.
Part (g) [15 marks]
Part (g) is the longest question in this section and is worth 15 marks. Students will be asked to use the text and their knowledge of economics to evaluate something from the text.
This is the most important discriminator and should be the first question a student looks at in their 5 minutes reading time
A typical question might be, 'Using information from the text/data and your knowledge of economics, evaluate the claim that protection measures will support economic growth and development in Kenya'.
This response would require all of the following to score highly:
1. A definition of the relevant key terms - economic growth, economic development and protectionist measures
2. At least two arguments in support of protectionist measures:
3. At least two limitations of protectionist measures, with specific reference to the text (combining the text as well as applying it to economic theory). Note that simply using the text (without the application of theory) would not be sufficient, neither would only the use of theory without reference to the text.
This is the question in which candidates should spend the longest period of time. Diagrams maybe useful to include in this section but not always.
for even more specific help on this- see below
for even more specific help on this- see below
Answering Paper 2 (1).pdfThailand P2.docxHints for P2.pptxHL P2 Nov 2021- Feedback on answering a 15 mark question.
HL P2 Nov 2021- Feedback on answering a 15 mark question.
Nov 22 HL P2 Link (made up paper) and Markscheme
The student focussed on S-side policies such as education reforms- drew good diagrams and answer was a solid8-9. Here is feedback I gave:
"Supply side policies such as education reform are really ineffective against inflation and will not increase economic growth in the SR (time lags tend to be to long). You said this but really have to emphasise it more- these S-side policies are not suitable!
However S-side policies such as reducing Trade Union power and reforming labour market (deregulation- to make it easier to fire workers etc) could have an immediate effect on suppressing wages and stopping the wage-price spiral from starting.
Equally given how much is talked about interest rates in the paper- I would mention ir. I would argue that even though the Gov is against ir increases- they should increase them- by small incremental amounts ( benefit of ir is they are flexible). A small ir increase should not increase cost of servicing national debt, and shouldnt reduce growth too much. The real benefit of raising ir even if it is a small amount is that it would signal the intent of Central Bank to curb inflation. Firms and workers seeing this would realise that central bank is v serious about controlling inflation, and would be less willing to raise prices and ask for higher wages. Given that inflation is likely to be transient/short term CB could reduce ir pretty quickly and so not harm econ growth.
This would allow me to make my conclusion about SR and LR trade offs in the Argentinian econ. With raisng ir, there is a trade off in SR. But lower inflation in the LR means higher econ growth in LR (no trade off) as econ is much more efficient with lower inflation.
Hope this helps"
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