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  1. Subjects
  2. Economics

IB Economics

How individuals, firms and governments make choices about scarce resources, from single markets to the global economy.

  • Group 3, individuals and societies
  • SL and HL
  • First assessment 2022

What Augment has for Economics

Counted from what is published today. Each part of the syllabus below links to its own page once something is on it.
Exam-style questions
1,668
Notes pages
43
Quick-fire questions
1,667
Flashcards in 32 decks
7,889
Glossary terms
668
Counted on 20 October 2026

The Economics syllabus

4 topics and 31 subtopics, first assessment 2022. HL is everything here; 4 parts marked HL only are left out at SL.

Counts beside each line are what is published for it today.

  1. 1Introduction to economics206 questions · notes · 121 quick fire

    1. 1.1What is economics?137 questions · notes · 56 quick fire
    2. 1.2How do economists approach the world?77 questions · notes · 50 quick fire
  2. 2Microeconomics829 questions · notes · 638 quick fire

    1. 2.1Demand103 questions · notes · 57 quick fire
    2. 2.2Supply84 questions · notes · 56 quick fire
    3. 2.3Competitive market equilibrium194 questions · notes · 56 quick fire
    4. 2.4Critique of the maximising behaviour of consumers and producersHL only76 questions · notes · 40 quick fire
    5. 2.5Elasticity of demand137 questions · notes · 56 quick fire
    6. 2.6Elasticity of supply63 questions · notes · 40 quick fire
    7. 2.7Role of government in microeconomics375 questions · notes · 60 quick fire
    8. 2.8Market failure: externalities and common pool resources255 questions · notes · 66 quick fire
    9. 2.9Market failure: public goods44 questions · notes · 41 quick fire
    10. 2.10Market failure: asymmetric informationHL only41 questions · notes · 40 quick fire
    11. 2.11Market failure: market powerHL only104 questions · notes · 71 quick fire
    12. 2.12The market’s inability to achieve equityHL only40 questions · notes · 40 quick fire
  3. 3Macroeconomics820 questions · notes · 405 quick fire

    1. 3.1Measuring economic activity139 questions · notes · 51 quick fire
    2. 3.2Aggregate demand and aggregate supply324 questions · notes · 56 quick fire
    3. 3.3Macroeconomic objectives363 questions · notes · 66 quick fire
    4. 3.4Economics of inequality and poverty218 questions · notes · 70 quick fire
    5. 3.5Monetary policy147 questions · notes · 56 quick fire
    6. 3.6Fiscal policy207 questions · notes · 51 quick fire
    7. 3.7Supply-side policies144 questions · notes · 40 quick fire
  4. 4The global economy681 questions · notes · 503 quick fire

    1. 4.1Benefits of international trade99 questions · notes · 50 quick fire
    2. 4.2Types of trade protection142 questions · notes · 41 quick fire
    3. 4.3Arguments for and against trade protection115 questions · notes · 40 quick fire
    4. 4.4Economic integration54 questions · notes · 41 quick fire
    5. 4.5Exchange rates197 questions · notes · 61 quick fire
    6. 4.6Balance of payments110 questions · notes · 65 quick fire
    7. 4.7Sustainable development101 questions · notes · 40 quick fire
    8. 4.8Measuring development100 questions · notes · 40 quick fire
    9. 4.9Barriers to economic growth and development147 questions · notes · 50 quick fire
    10. 4.10Growth and development strategies178 questions · notes · 60 quick fire

How Economics is assessed

From the subject guide, with a table for each level.

Standard Level

2 exams, 3 h in total, internal assessment 30% of the grade.

ComponentTimeMarksWeight
Paper 1No calculator

1 h 15 min · 25 marks

An extended-response essay: one question from a choice of three.

1 h 15 min2530%
Paper 2Calculator

1 h 45 min · 40 marks

A data-response paper: one question from a choice of two, on a text and data.

1 h 45 min4040%
PortfolioInternal

Coursework · 45 marks

Three commentaries of up to 800 words, each on a news article, using different units of the syllabus.

Coursework4530%

Higher Level

3 exams, 4 h 45 min in total, internal assessment 20% of the grade.

ComponentTimeMarksWeight
Paper 1No calculator

1 h 15 min · 25 marks

An extended-response essay: one question from a choice of three.

1 h 15 min2520%
Paper 2Calculator

1 h 45 min · 40 marks

A data-response paper: one question from a choice of two, on a text and data.

1 h 45 min4030%
Paper 3Calculator

1 h 45 min · 60 marks

A policy paper: two compulsory questions, ending with a policy recommendation.

1 h 45 min6030%
PortfolioInternal

Coursework · 45 marks

Three commentaries of up to 800 words, each on a news article, using different units of the syllabus.

Coursework4520%
Every paper, the IA and grade boundaries

Questions about Economics

Useful for Economics

  • GlossaryEvery Economics term with a short definition, A to Z.
  • Assessment and boundariesEach Economics paper in full, the internal assessment and grade boundaries by session.
  • Grade calculatorTurn marks into a grade, or six grades and the core into Diploma points.
  • Exam skills notesHow to tackle each Economics paper. Opens in Augment.

Revise Economics one subtopic at a time

A free account keeps your place in the notes and a record of what you practice, topic by topic.

Start freeOpen Economics in Augment