At a glance
- Units
- Introduction, microeconomics, macroeconomics, the global economy
- Paper 1
- Extended response, 1 h 15 min, 25 marks
- Paper 2
- Data response, 1 h 45 min, 40 marks
- HL Paper 3
- Policy paper, 1 h 45 min, 60 marks
- IA
- Three commentaries, max 800 words each
IB Economics assessment
| Component | Format | SL weighting | HL weighting |
|---|---|---|---|
| Paper 1 | Extended response, 1 h 15 min, 25 marks | 30% | 20% |
| Paper 2 | Data response, 1 h 45 min, 40 marks | 40% | 30% |
| Paper 3 (HL only) | Policy paper, 1 h 45 min, 60 marks, two compulsory questions | Not taken | 30% |
| Internal assessment | Portfolio of three commentaries on news extracts | 30% | 20% |
Each commentary is up to 800 words, based on a different unit of the syllabus (not the introductory unit), and uses a different key concept.
What IB Economics expects
The course is framed by nine key concepts: scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence and intervention. Students are expected to apply theory to real-world examples they have chosen themselves, so a student who reads the news regularly has a clear advantage in Paper 1.
HL adds extra content in each unit (for example market structures, elasticity calculations and further macro theory) and Paper 3, which is closer to policy work: calculations, diagrams and a written recommendation to a government or organisation. Students taking HL should be comfortable with percentages, ratios and reading data.
Where marks are lost
- Diagrams that are not fully labelled or not explained in the text. Examiners expect accurate axes, curves, equilibria and a sentence that uses the diagram.
- Generic examples. Paper 1 part (b) rewards specific, real-world examples; "a country" or "a firm" caps the mark.
- Evaluation as an afterthought. A single line of "however" at the end is not evaluation. Strong answers weigh stakeholders, time frames and assumptions throughout.
- Paper 2 calculations. Percentage changes, elasticities and multipliers are easy marks lost through rushing.
- IA articles that are too old or too broad. Each commentary needs a recent, focused article and one clear concept that runs through the analysis.
How one-to-one Economics lessons work
Tutors who teach IB Economics build each lesson around a diagram and a real example: the student draws it on the shared whiteboard, explains it aloud, then writes a timed paragraph that the tutor marks. Over the course, the student builds an example bank tied to each unit, which makes Paper 1 much less stressful.
For Paper 2 and HL Paper 3, lessons rehearse the calculation and data-reading questions until they are automatic, and practise the final policy recommendation. For the IA, the tutor helps the student choose suitable articles and understand how the criteria reward analysis and evaluation. The commentaries themselves are written by the student.
Start the example bank early
Gulf economies offer strong, current examples: oil price movements, fuel subsidy reform, VAT introduction in GCC countries, and diversification plans. Students who collect and date examples from DP1 write far better Paper 1 answers.
Common questions
Is IB Economics HL much harder than SL?
HL adds content and Paper 3, which is quantitative. Students comfortable with numbers usually find HL manageable; students who dislike calculation often prefer SL.
What is the IB Economics IA?
A portfolio of three commentaries, each up to 800 words, analysing a published news article using economic theory and one of the nine key concepts. Each covers a different unit. It is worth 30% at SL and 20% at HL.
Do universities want IB Economics?
Economics degrees rarely require IB Economics, but they usually require strong maths, often Maths AA HL or a stated score. Check each course's requirements.
How do I help my child with Paper 1 examples?
Encourage regular reading of reputable news, and a simple notebook of examples sorted by unit and concept, each with a date and a source. Tutors can turn these into practice answers.
How much do IB Economics lessons cost?
$15 a lesson, the same flat rate for every subject, on a weekly plan of 1 to 5 lessons billed monthly. Lessons are 60 minutes, one to one and online, and the first lesson is a free trial.
Sources
Dates and figures on this page come from these official and published sources. Always confirm deadlines on the official page before acting on them.