IB Economics SL

Two external papers plus internal assessment. Paper 1 asks extended-response questions based on stimulus material; Paper 2 is data response, including quantitative work and policy evaluation. The internal assessment is a portfolio of commentaries, each linking a news media extract to economic theory. Check the current IB Economics guide for the precise structure and weightings, which the IB publishes.

The SL syllabus covers the same core areas but with less breadth and depth, and the quantitative demand is lighter. Difficulty usually comes from evaluation and application rather than mathematics. Students who memorise definitions but cannot apply models to unfamiliar data tend to find it harder than expected, regardless of level.

The IB publishes the current paper durations, question counts and weightings in its official Economics guide and subject pages. Those details are revised periodically, so confirm them there or with your teacher rather than relying on second-hand summaries. Plan your practice under the official timing once you have it.

Retake arrangements, including whether you may retake individual components or must resit whole sessions, are set by the IB and your school. The official body publishes current rules and any associated fees. Ask your DP coordinator early, because registration deadlines for retake sessions fall well before the exam period.

Follow the logical build: introduction to economics, then microeconomics, then macroeconomics, then the global economy. Microeconomic models underpin later policy analysis, and macroeconomic policy makes little sense without demand and supply. Interleave diagram practice and past-paper questions as you go rather than leaving all revision to the end.

Common causes are one-sided answers, no reference to the diagram just drawn, vague assertions without mechanism, and ignoring time frames or stakeholder differences. Evaluation needs explicit reasoning: state the condition under which your judgement holds, and weigh magnitudes rather than listing points. Use the model, then critique it.

Pick recent news extracts with clear economic content and enough substance to support a diagram and evaluation. Avoid pieces that are purely political or too short to analyse. Each commentary should identify the concept, apply the model, and evaluate. Confirm the current rules on article dates, number of commentaries and word limits with your teacher.

You need confident arithmetic and the ability to calculate and interpret percentages, index numbers, elasticities and simple changes. The emphasis is on explaining what a calculation means economically, not on advanced mathematics. Practise showing working clearly, since method marks are often available even when the final answer is wrong.

Top answers use precise terminology, accurate and labelled diagrams, and applied examples, then evaluate with genuine judgement. They address the specific question rather than dumping everything known about the topic. Structure matters: define, analyse with a model, evaluate, conclude. Practise under time pressure so this structure becomes automatic.