What topics are covered in IB Economics HL?

IB Economics HL is organised into four units: introduction to economics, microeconomics, macroeconomics, and the global economy. HL studies additional microeconomic content and develops more advanced quantitative and policy-analysis skills.

What are the nine key concepts in IB Economics?

The nine key concepts are scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, and intervention. They should be used to analyse and evaluate real-world issues rather than added as isolated definitions.

How is IB Economics HL assessed?

HL Paper 1 lasts one hour 15 minutes and contributes 20%; Paper 2 lasts one hour 45 minutes and contributes 30%; Paper 3 lasts one hour 45 minutes and contributes 30%; the internal-assessment portfolio contributes 20%.

What is the IB Economics internal assessment?

Both SL and HL students submit a portfolio of three commentaries based on published news-media extracts. The commentaries must come from different syllabus units other than the introductory unit and use different key concepts as analytical lenses. Confirm article dates, word limits, citations, and school deadlines with the current guide and your teacher.

What is the difference between IB Economics HL and SL exams?

HL takes the shared extended-response Paper 1 and data-response Paper 2 plus Paper 3, a policy paper using supplied data and economic knowledge to make and justify recommendations. HL also includes additional syllabus depth and quantitative techniques.

Economics HL

Unit 01

3.1 Measuring economic activities

0/9

Unit 02

3.2 Variations in economic activity - aggregate demand and aggregate supply

0/10

Unit 03

3.3 Macroeconomic objectives

0/8

3.3.1 Economic growthLesson
3.3.2. Consequences of economic growthLesson
3.3.3. Low unemploymentLesson
Measuring Inflation with the Consumer Price Index (CPI)Lesson
3.3.5. Relative costs of unemployment versus inflationLesson
Government Debt and Budget DeficitsLesson
Consequences of InflationLesson
3.3.9. High economic growthLesson

Unit 04

3.4 Economics of inequality and poverty

0/10

Unit 05

3.5 Demand management - Monetary policy

0/8

Unit 06

3.6 Demand management - fiscal policy

0/6

Unit 07

3.7 Supply side policies

0/6

Economics HL.

1.1 What is economics?

1. Introduction to Economics

1.1 What is economics?

1.2 How do economists approach the world?

2. Microeconomics

2.1 Demand

2.2 Supply

2.3 Competitive Market Equilibrium

2.4 Critique of the maximizing behaviour of consumers and producers (HL only)

2.5 Elasticities of demand

2.6 Elasticity of supply

2.7 Role of government in microeconomics

2.8 Market failure - externalities, common pool resources, public goods, asymmetric information

2.9 Market failure - public goods

2.10 Market Failure - asymmetric information (HL only)

2.11 Market failure - market power (HL only)

2.12 The market's inability to achieve equity (HL only)

3. Macroeconomics

3.1 Measuring economic activities

3.2 Variations in economic activity - aggregate demand and aggregate supply

3.3 Macroeconomic objectives

3.4 Economics of inequality and poverty

3.5 Demand management - Monetary policy

3.6 Demand management - fiscal policy

3.7 Supply side policies

4. The Global Economy

4.1 Benefits of International Trade

4.2 Types of Trade Protection

4.3 Arguments For and Against Trade Protection

4.4 Economic Integration

4.5 Exchange Rates

4.6 Balance of Payments

4.7 Sustainable Development

4.8 Measuring Development

4.9 Barriers to Economic Growth and Economic Development

4.10 Economic Growth and Economic Development Strategies

158 lessons.Start with one.

Economics HL.

1.1 What is economics?

1. Introduction to Economics

1.1 What is economics?

1.2 How do economists approach the world?

2. Microeconomics

2.1 Demand

2.2 Supply

2.3 Competitive Market Equilibrium

2.4 Critique of the maximizing behaviour of consumers and producers (HL only)

2.5 Elasticities of demand

2.6 Elasticity of supply

2.7 Role of government in microeconomics

2.8 Market failure - externalities, common pool resources, public goods, asymmetric information

2.9 Market failure - public goods

2.10 Market Failure - asymmetric information (HL only)

2.11 Market failure - market power (HL only)

2.12 The market's inability to achieve equity (HL only)

3. Macroeconomics

3.1 Measuring economic activities

3.2 Variations in economic activity - aggregate demand and aggregate supply

3.3 Macroeconomic objectives

3.4 Economics of inequality and poverty

3.5 Demand management - Monetary policy

3.6 Demand management - fiscal policy

3.7 Supply side policies

4. The Global Economy

4.1 Benefits of International Trade

4.2 Types of Trade Protection

4.3 Arguments For and Against Trade Protection

4.4 Economic Integration

4.5 Exchange Rates

4.6 Balance of Payments

4.7 Sustainable Development

4.8 Measuring Development

4.9 Barriers to Economic Growth and Economic Development

4.10 Economic Growth and Economic Development Strategies

158 lessons.Start with one.

158 lessons.
Start with one.

158 lessons.
Start with one.