IB Economics SL
The Standard Level of IB Economics, taught through nine key concepts. Covers microeconomics, macroeconomics, and the global economy, developing the ability to apply economic theory, diagrams, and real-world examples to contemporary issues.
Difficulty
Challenging
Popularity
62%
Past questions
3
Study tips
5
Key Topics
Exam Format & Dates
May & November, annually
2 hours 45 minutes
1–7 scale (IB)
4 = passing | 6–7 = excellent
| Section | Duration | Content | Weight |
|---|---|---|---|
| Paper 1 | 1 – 1¼ hours | Source / stimulus analysis | 30% |
| Paper 2 | 1½ – 2¼ hours | Structured essays | 45% |
| Internal Assessment | Coursework | Individual investigation / project | 25% |
Exam Breakdown & Insights
Difficulty · Demanding
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 The Foundations of Economics and explain why they matter in this subject.
Apply the concept of Demand & Supply to a realistic scenario, explaining your reasoning step by step.
Evaluate the strengths and limitations of Elasticities, 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 SL — always start with the source your exam board publishes.
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