IB Economics – where to begin

IBDP Economics, like all courses in the International Baccalaureate, is notably challenging. As a social science, like Psychology or Sociology, Economics is the study of society and its institutions, as well as how and why people behave as they do, both as individuals and in groups. More specifically, Economics studies the ways in which individuals and groups use scarce resources in an attempt to satiate their needs and wants. IBDP Economics students must, therefore, examine theory and case studies to understand the central concepts of the subject.

However, before delving into such minutia, all students must begin with the IB Economics subject guide. To reach the highest mark band in any subject, be it IB Economics or IB History, it is essential that IB candidates are familiar with the relevant subject guide. The IB Economics subject guide outlines clearly the requirements for both Higher Level and Standard Level, offering learners an overview of the two-year Economics course and, inevitably, what is expected of them. If one wishes to excel in the IBDP, it is imperative that the subject guide never leave one’s side.

Essential knowledge

To be assured of the highest marks possible in the IB Economics examination, a complete understanding of the exam papers must be achieved. Paper 1 in both Higher Level and Standard Level IB Economics is an essay-based exam that assesses the candidate’s understanding of Microeconomics and Macroeconomics. Paper 2 is concerned with data-response and is centres on International Economics and Development Economics. Finally, Paper 3, which is reserved for Higher Level IBDP candidates, is a Maths exam, covering all areas of the HL course — Microeconomics, Macroeconomics, International Economics and Development Economics.

A lack of understanding of the structure of the IB Economics exam means that students may be caught unaware come test-day. Although this is unlikely, considering schools hold mock exams in advance of the real thing, stranger things have happened and IB Economics students, like those in other IB subjects, have been caught without a clear understanding of the exam. Therefore, it is essential that IBDP candidates familiarise themselves with the exam paper and dedicate a considerable amount of their revision time to studying past IB Economics exam papers.

Common pitfalls

To summarise the pitfalls of the IB Economics course and exam would be a somewhat exhaustive task. The syllabus is a challenging one and requires young learners to develop an understanding of complex theoretical concepts, as well as completing challenging responses to data analysis questions, and to have developed a concise, well-structured style of essay writing. What’s more, for those in HL Economics and, therefore, sitting Paper 3, further conceptual understanding is needed, as well as refined mathematical skills. Put simply, the IBDP Economics course and exam is littered with areas in which points may be lost and students can get caught.

Effective support for IB Economics

Due to the overwhelming nature of the IBDP Economics course, the guidance and support of an expert tutor can prove indispensable. A knowledgeable, motivated, and organised tutor can benefit every type of student, even one who is quite academically adept, and assist in achieving great heights in the IBDP.

At BartyED, we offer our students the mentoring and assistance needed to approach the IB Economics examination, both at Higher Level and Standard Level, with a sense of calm and confidence. Our expert team of tutors have aided innumerable students reach the highest point of the IBDP examination mark band, as well as having guided young learners through the IB Economics Internal Assessment (IA), and the Extended Essay for those who choose to complete their EE in Economics. If you are interested in learning more about our bespoke, student-focused support for IB Economics and all other IBDP subjects, contact us by phone at +852 2882 1017 or email us at enquiries@bartyed.com.