Ruble crisis in Russia

by | Apr 16, 2022 | Other

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In this Essay a global economics topic has to be found within the past year for example the ruble crisis in Russia is what I have been looking at.
Must have link to article used for the Essay.
This article will allow you to write the essay as you will use the information from-the website to explain the economic changes and concepts being used in the current event.
Example for Russian Ruble crisis due to the war in Ukraine and sanctions from western countries
– https://www.cnn.com/2022/02/28/business/russia-ruble-banks-sanctions/index.html
First paragraph Introduction
– Start with a sentence explaining part of what the question is about, using a keyword from the course, if possible.
– Define a key word in the question. Preferably the keyword used in your first sentence.
– Define either another key word in the question (if there is another one) or an important related key word.
– Define either another key word in the question (if there is another one) or another relevant key word. (Or skip this definition of nothing relevant comes to mind).
– Explain your real life example: Briefly explain a relevant real-life example. Keep this to around 2 sentences. You’ll link back to this example later in your essay.
– Use one of the nine key concepts that occurs in the topic the concepts are given below in downloads.
Step 2 Draw The diagram
The diagram (and it’s titles, etc) do not count in your word count. You need to diagram the problem explained in the article. And also diagram your solution. Sometimes both the problem and the solution can be shown on one diagram. Sometimes not. Of course don’t include a diagram (or any theory at all) that doesn’t help you to explain the case. Include in your diagram as much information as you can. It will need to:
-Use a full title such as, “The Market for Apples in Ontario”
-Label all of your lines
-Mark all of your intersections with a letter, so you can refer to them later in your article
-Shade in and fully label the areas of the shapes on your diagram (i.e. excess demand),
-Indicate the exact prices and quantities (or percentage changes in price or quantity if they are included in the article. If not, label them Q1, Q2, P1, P2, etc.
Show as much as you can in your diagrams. A clear picture can help you tell a lot.
Step 3 Fully Explain your Diagram
A big mistake students make is that they will identify the key concepts that explain the case, but they don’t explain how those concepts work. They skip steps in their explanation. It’s human nature to do that. We all do that all the time. We assume the reader is understanding what we’re saying. In this case you can’t do that. You need to force yourself to explain things step by step. Let’s look at an example. I have a students’ (practice) commentary in front of me that reads:
“Supply shifts inward because there was a drought. This leads to a higher price and a lower quantity demanded”
Maybe you’re thinking this isn’t too bad. However, this student has skipped a few steps. He doesn’t make it understandable to a reader who doesn’t know the theory. If you have to be an expert to understand what you’re talking about you aren’t doing it right. You can’t think of your reader as an expert. My student here could have written something like:
“The leftward shift of the supply curve means that, for any given price, less is supplied. This creates excess demand at the original equilibrium price, which puts upward pressure on price. Producers receive the signal to increase their prices and they do.”
Writing like this (step-by-step) isn’t easy. Luckily in this case you get to edit your own writing as many times as you want before you hand it in.
Step 4 Develop your own Explanation
Analysis is about explaining how the theory (and your key concept) relates to the case. You have already done a lot of that by FULLY explaining your diagram. But now I want you to take it a step further. Go deeper in your explanation. For example, explain how what is happening in the article is not exactly what the theory said would happen (i.e because of the external factors that exist).
Explain to us to what extent the theory you have used explain what’s actually going on in the article? And show the linkages between different aspects of theory. Basically you’re trying to take it to the next level. But you aren’t evaluating. You’re just making sure that you have fully explained the theory and how the theory relates to the case.
Step 5 Do another Diagram related to the topic using economic graphs showing a change in market such as shift in supply or demand.
Step 7 Fully explain the diagram again.
Step 6 Conclusion
Every article is about a problem. For example, apples are too expensive after the drought. In your commentary you’re expected to evaluate ONE possible solution. If one is mentioned in the case it must be that one that you evaluate. You can suggest one and evaluate that only if a solution isn’t already mentioned in the article. You want to choose the most appropriate (most likely) solution here, rather than one that is obviously not going to work at all.
To evaluate you’ll need to use at least 3 different (CLASPP) approaches. (The CLASPP approach to Economics evaluation is explained here). Try to include “assumptions” of the theory if you can, to show the limits of the theory and that it doesn’t always work out in real life. Make sure that you have made an evaluative link to your key concept in your evaluation as well.
A big thanks to Thanks to John Gangi (at United Nations International School in Hanoi) and Kaisar Dopaishi (DP Economics workshop leader and Principal of Singapore International School, India) for their helpful feedback to make this article better.
Here is an Examples of an Economic Global Commentary

Internal Assessment Sample – International


https://clastify.com/ia/economics/622f47ee9a37d700138c3746

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