IB Economics HL
IB Economics HL covers microeconomics, macroeconomics, the global economy, and — at HL — deeper theory, policy analysis, and quantitative methods, taught through 9 key concepts.
Difficulty
Very Hard
Popularity
69%
Past questions
3
Study tips
5
Key Topics
Exam Format & Dates
May & November, annually
Papers 1–3 + Internal Assessment
1–7 scale (IB)
4 = passing | 6–7 = excellent
| Section | Duration | Content | Weight |
|---|---|---|---|
| Paper 1 — Extended Response | 1 hour 15 minutes | 1 of 3 questions | 20% |
| Paper 2 — Data Response | 1 hour 45 minutes | 1 of 2 questions | 30% |
| Paper 3 — HL Policy & Quantitative | 1 hour 45 minutes | 2 compulsory questions | 30% |
| Internal Assessment | Coursework (3 commentaries) | 3 portfolio commentaries | 20% |
Exam Breakdown & Insights
Difficulty · Elite
Popularity score
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Study Tips
- 1
Use active recall: close your notes and write down everything you remember, then check the gaps.
- 2
Define every key term precisely — many exam marks come from accurate use of subject terminology.
- 3
Apply concepts to real-world scenarios; application questions dominate modern exams.
- 4
Past papers with mark schemes are the single best IB revision resource — learn exactly how marks are allocated.
- 5
Do not neglect your Internal Assessment: it is a significant chunk of your grade that you control before exam day.
Past Exam Questions
Define the key terms associated with Microeconomics and explain why they matter in this subject.
Apply the concept of Macroeconomics to a realistic scenario, explaining your reasoning step by step.
Evaluate the strengths and limitations of The Global Economy, using evidence to support a clear, balanced conclusion.
Common Mistakes to Avoid
- ✕
Confusing similar key terms that examiners deliberately test against each other.
- ✕
Memorizing definitions without practicing application to scenarios.
- ✕
Ignoring the marks allocated per question — a 2-mark answer doesn't need a paragraph.
Official Resources
Free, official study material for IB Economics HL — always start with the source your exam board publishes.
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