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IB Economics HL community
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Economics HL chapters
32 topics · free- 1.1Scarcity, choice and opportunity cost
- 1.2Economics as a social science and the role of models
- 1.3The central concepts: efficiency, equity, sustainability and change
- 2.1Demand and the law of demand
- 2.2Supply and the law of supply
- 2.3Market equilibrium and the price mechanism
- 2.4Price elasticity of demand and income elasticity
- 2.5Price elasticity of supply
- 2.6Indirect taxes and subsidies
- 2.7Market failure: externalities and the environment
- 2.8Market failure: public goods and common pool resources
- 2.9Theory of the firm: costs, revenues and profit
- 2.10Market structures: perfect competition and monopoly
- 2.11Market structures: monopolistic competition and oligopoly
- 2.12Price discrimination
- 3.1Measuring economic activity: GDP, GNI and the business cycle
- 3.2Aggregate demand and aggregate supply
- 3.3Low unemployment
- 3.4Low and stable inflation
- 3.5Economic growth
- 3.6Economic equality and the role of taxation
- 3.7Demand-side policies: fiscal and monetary policy
- 3.8Supply-side policies
- 3.9The Keynesian multiplier
- 4.1International trade and comparative advantage
- 4.2Free trade and protectionism
- 4.3Economic integration and the WTO
- 4.4Exchange rates
- 4.5The balance of payments
- 4.6Sustainable development
- 4.7Measuring economic development
- 4.8Barriers to development and economic development strategies
Papers in Economics HL
- HLPaper 1Practise under timed conditions, then mark against the band descriptors.
- HLPaper 2Drill the question style, then review the markbands to push into the top band.
- HLPaper 3Drill the question style, then review the markbands to push into the top band.
How IB marking differs
Unlike point-based A-Level mark schemes, IB uses markbands — examiners place your answer in a level band against descriptors. Knowing the band wording is how you turn a 5 into a 7.
Check your work
Upload a photo of your answer and get structured, criteria-based feedback on where the marks are.
Get feedback ->IB Economics HL — papers & markbands
Extended response (Paper 1), data response (Paper 2) and — at HL — a quantitative/policy paper (Paper 3). Above are the papers you'll sit and how examiners award marks. Practise past papers, learn the markbands, then check your own answers for feedback.
Frequently asked questions
- What papers are in IB Economics HL?
- IB Economics at HL is assessed by Paper 1, Paper 2, Paper 3, plus internal assessment. Extended response (Paper 1), data response (Paper 2) and — at HL — a quantitative/policy paper (Paper 3).
- How is IB Economics marked?
- IB uses markbands and assessment criteria rather than point-based A-Level marking codes — examiners place your response in a level band against descriptors. Our guides show what separates the top band from the middle on each paper.
- Where can I find IB Economics HL past papers?
- Browse every recent Economics HL exam series on our IB Economics past-papers page, organised by session and paper, with mark-scheme guidance for each.
- Is there a free IB Economics course?
- Yes — MarkScheme has a free topic-by-topic IB Economics course with worked examples, flashcards, and criterion practice marking on every syllabus point.
Best free IB Economics resources
Hand-picked, fully legal and free — official IB papers plus the best teacher-made notes and solutions.