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Subject and level
HL-only syllabus points are hidden at Standard Level.
Syllabus points
ECON-U1 Introduction to Economics
ECON-1.1 Introduction to economicsScarcity, choice, opportunity cost, factors of production, economic systems.
ECON-1.2 Economic methodology and economic thoughtEconomic models, positive vs normative economics, schools of economic thought.
ECON-U2 Microeconomics
ECON-2.1 DemandThe law of demand and its price/non-price determinants.
ECON-2.2 SupplyThe law of supply and its price/non-price determinants.
ECON-2.3 Competitive market equilibriumMarket equilibrium, consumer/producer surplus, the price mechanism.
ECON-2.4 Elasticity of demand and supplyPED, YED, XED and PES, their determinants and applications.
ECON-2.5 Government interventionPrice ceilings/floors, indirect taxes, subsidies, direct provision.
ECON-2.6 Market failure: externalitiesNegative and positive externalities of production and consumption.
ECON-2.7 Market failure: public goods and common resourcesThe free-rider problem and the tragedy of the commons.
ECON-U3 Macroeconomics
ECON-3.1 Measuring economic activityThe circular flow of income, GDP/GNI, and the business cycle.
ECON-3.2 Aggregate demand and aggregate supplyThe AD/AS model and the factors affecting each curve.
ECON-3.3 Macroeconomic objectives: growth and inflationCauses and consequences of economic growth, inflation and deflation.
ECON-3.4 Macroeconomic objectives: unemployment and equityTypes/causes of unemployment; income distribution and equity.
ECON-3.5 Fiscal policyGovernment spending, taxation and the budget balance.
ECON-3.6 Monetary policyCentral banks, interest rates and the money supply.
ECON-3.7 Supply-side policiesInterventionist and market-based approaches to raising productive capacity.
ECON-U4 The Global Economy
ECON-4.1 International tradeBenefits of trade and the theory of comparative advantage.
ECON-4.2 Trade protectionismTariffs, quotas and subsidies, and arguments for/against protection.
ECON-4.3 Economic integrationTrading blocs, common markets and monetary unions.
ECON-4.4 Exchange ratesFloating and fixed exchange rate systems and causes of fluctuation.
ECON-4.5 Balance of paymentsThe current account, trade balance and correcting imbalances.
ECON-4.6 Sustainable developmentMeasuring and promoting environmentally sustainable development.
ECON-4.7 Measuring developmentThe Human Development Index and other development indicators.
ECON-4.8 Barriers to economic growth and developmentDomestic and international barriers to growth and development.
Difficulty and exam format
Formats follow the current IB subject guide for Economics SL.
Duration and question count
Up to 20 questions for this format — pick an official IB paper format for longer papers.
Additional instructions
Timed exam mode
Sit the paper against a 105-minute countdown under exam conditions. You can change this when the paper opens.
Your blueprint
- Economics · SL
- Paper 2 · Medium
- 105 minutes · 6 questions
- No syllabus points selected yet
Generated papers are labelled IBBase AI Generated. This is an AI-generated practice paper and is not an official IB examination paper.