Reach your target grade in IB Economics SL/HL with 1:1 tutoring
One-on-one IB Economics (SL / HL) tutoring programme. In a free initial consultation we assess your level and agree the plan and the exact price together. Parents and students are both welcome to reach out.
What is the IB Economics (SL / HL) exam?
IB Economics is a subject in the individuals and societies group of the International Baccalaureate Diploma Programme, offered at Standard Level (SL) and Higher Level (HL). The course covers microeconomics, macroeconomics and the global economy, treating economic concepts with real-world examples. SL and HL share the same core concepts; HL adds more theoretical depth, extra topics and quantitative analysis.
Diploma candidates choose at least one subject from the individuals and societies group, and economics is a common choice for students aiming at economics, business or social sciences. HL often offers an advantage for these programs. A strong economics grade is concrete evidence of analytical thinking and the ability to interpret real-world data on an application file.
Why prepare for IB Economics (SL / HL) with Studrise?
Exam-focused expert tutors
Every lesson is taught by expert tutors who know the IB Economics (SL / HL) format inside out and focus on exam strategy.
A plan built around you
After your level assessment, we build a personal roadmap around your strengths and weak spots.
Flexible 1:1 schedule
Lessons run online and one-on-one on days and times that suit you — no clashes with school.
A clear start
It starts with a free initial consultation: level, plan and price are settled before the programme begins.
How it works
Free initial consultation
A short call and assessment to clarify your current level, your goal and your exam date.
Personal roadmap
We build a topic-by-topic weekly study plan and match you with the right tutor.
Reach your goal with 1:1 lessons
Start one-on-one lessons with your tutor and track progress with regular practice tests.
IB Economics (SL / HL) exam format
IB Economics assessment is made up of external exam papers and an Internal Assessment:
Paper 1
Extended-response questions · explaining and evaluating concepts
Paper 2
Data-response questions based on a given source text
Paper 3
HL only · quantitative and policy-based questions
Internal Assessment
Portfolio of commentaries based on current news · about 30% of the total grade
IB Economics (SL / HL) topics
The topic areas on the exam and their weight. Lessons don't follow this order — we start from the area that will move your score the most.
Unit 1 — Introduction to economics
The nine key concepts
- Scarcity, choice, opportunity cost, production possibilities
- Economic systems and the evolution of economic thought
- The concepts of scarcity, efficiency, equity, well-being, sustainability, change, intervention, interdependence, choice
- Positive and normative economics
- Models and assumptions
Unit 2 — Microeconomics
Markets, elasticity, intervention, failure
- Demand and supply; HL: behavioural economics, theory of the firm
- Elasticity: PED, YED, PES, XED and calculations
- Government intervention: taxes, subsidies, price controls; HL: calculations
- Market failure: externalities, public goods, common-pool resources, asymmetric information
- HL: market power (monopoly, oligopoly, monopolistic competition)
Unit 3 — Macroeconomics
Indicators, AD–AS, policies, inequality
- Measuring national income, the business cycle, GDP–GNI; HL: calculations
- Aggregate demand and aggregate supply (Keynesian and neoclassical)
- Macro objectives: growth, low unemployment, price stability, sustainable debt
- Monetary, fiscal and supply-side policies; HL: the multiplier, the Phillips curve
- Income distribution, Lorenz–Gini, poverty and policy tools
Unit 4 — The global economy
Trade, exchange rates, balance of payments, development
- Gains from free trade and protectionism; HL: tariff/quota calculations
- Economic integration and trading blocs
- Exchange rates: floating, fixed, managed; HL: exchange-rate calculations
- Balance of payments; HL: Marshall–Lerner, the J-curve
- Sustainable development, its measurement and development strategies
IB Economics (SL / HL) question types and strategy
Each question type has its own approach. In lessons we work on these strategies alongside the content.
Paper 1 — extended response (essay)
75 min, 25 marks; one question chosen from three. (a) 10 marks: explain with a diagram; (b) 15 marks: evaluate using a real-world example. 30% of the grade at SL, 20% at HL.
For (a): definition + correctly labelled diagram + explanation of the diagram. For (b) a real country or firm example is essential; lessons build an example bank for every topic. "Evaluate" means stakeholders, short versus long run, assumptions, priorities.
Paper 2 — data response
105 min, 40 marks; one of two texts chosen. Definition, calculation, diagram, explanation and a 15-mark evaluation question all based on one text. 40% at SL, 30% at HL.
Read the text together with the questions first; for question (g) quote at least two pieces of evidence from the text and link them to theory. In calculations write the formula and add the unit.
Paper 3 (HL) and the IA portfolio
Paper 3 is HL only: 105 min, 60 marks, two compulsory questions; quantitative calculations and a 10-mark policy recommendation. The IA: three commentaries of 800 words, each on a real news article from a different unit; 30% at SL, 20% at HL.
In the Paper 3 policy question choose one policy, justify it, and write stakeholder effects and limitations. In the IA the article must be published within a year of the exam date; a diagram, a key concept and evaluation are required in every commentary. Finishing the first two commentaries in year 1 eases year 2.
Scoring and target scores
IB Economics is graded on a 1–7 scale, where 7 is the highest. The subject grade combines the external exam papers with the Internal Assessment portfolio of commentaries based on current news. Grades from six subjects, plus extra points from Theory of Knowledge and the Extended Essay, make up the total diploma score out of 45. A 6 or 7 is considered strong, and economics and business programs often look for a 6 or above in HL economics.
IB Economics is taught across the two-year Diploma Programme, and exams are held twice a year, in the May and November sessions. Because the course combines theoretical concepts with real-world examples, following current economic news regularly is a natural part of preparation. One-on-one lessons are especially useful for using diagrams correctly, structuring evaluative writing and planning the Internal Assessment commentaries. Working through past papers before the exam strengthens writing skills.
What we cover in IB Economics (SL / HL) lessons
Foundations of economics and markets
Microeconomics: supply, demand and market failure
Macroeconomics: growth, inflation and policy
The global economy and trade
Internal Assessment (IA) commentary writing
Paper 1, 2 and 3 exam strategies
What sets the price of IB Economics (SL / HL) tutoring?
There is no single list price; the fee depends on the programme. You get a clear quote in the consultation — nothing is added later.
Lessons per week
One, two or three lessons a week — set by the time until the exam and the score gap.
Total duration and package
Lessons are priced as a package; longer programmes lower the per-lesson cost.
Scope
One section (say, Math only) or the whole exam? A narrower scope means a shorter programme.
Tutor and level
The tutor you're matched with and your starting level shape the plan, and therefore the fee.
Adding coaching?
Coaching and application counselling is an optional, separately priced programme.
Every lesson you pay for is 1:1
No crowded classroom, no idle hours. Keep that in mind when comparing with group-course prices.
In the free initial consultation we assess your level, draw up the plan and give you the exact price. No surprises.
IB Economics: assessment structure and the SL/HL difference
Four units, nine concepts; HL adds quantitative calculations and Paper 3.
The current IB Economics syllabus (first examined 2022) has four units: introduction, microeconomics, macroeconomics and the global economy. The course is woven around nine key concepts (scarcity, choice, efficiency, equity, economic well-being, sustainability, change, intervention, interdependence), which are used explicitly in the IA. SL and HL share the units; HL adds the theory of the firm, market power, behavioural economics and quantitative calculations (elasticity, multiplier, tariffs, exchange rates).
| Component | SL | HL |
|---|---|---|
| Paper 1 — essay (75 min, 25 marks) | 30% | 20% |
| Paper 2 — data response (105 min, 40 marks) | 40% | 30% |
| Paper 3 — policy (105 min, 60 marks) | — | 30% |
| IA — 3 commentaries (3 × 800 words) | 30% | 20% |
In recent years 12–15% of HL and 9–12% of SL candidates scored a 7; economics has a relatively high share of 7s in the IB. What decides it is diagram discipline and evaluation written with real-world examples.
- Who should take HL: economics, business, finance, political science and international-relations applicants; schools such as LSE, UCL and Warwick require HL for economics and expect it alongside Maths AA HL.
- SL suits: law, social sciences, architecture and science applicants completing the individuals-and-societies group.
- For Turkish students: there is no economics in the school curriculum, but intuition for inflation and exchange rates is strong. What is missing is explaining with diagrams and English evaluation templates; the programme weights those two skills.
For a comparison with the AP economics exams see the AP Economics page.
A two-year IB Economics support plan
Units in step with school; a diagram every week, an essay part every two weeks; IA commentaries from year 1.
- Year 1, September–January: Units 1–2. The nine concepts, supply–demand, elasticity calculations, intervention and market-failure diagrams; the theory of the firm at HL. One Paper 1 part (a) per lesson (definition + diagram + explanation).
- Year 1, February–June: Unit 3 + IA 1–2. AD–AS, policies, inequality. The first two IA commentaries (micro and macro articles) are finished between April and June.
- Year 2, September–December: Unit 4 + IA 3 + HL quantitative. Trade, exchange rates, balance of payments, development; the third commentary in November. Tariff/exchange-rate/multiplier calculations and Paper 3 rehearsals at HL. One full set before the school mocks.
- Year 2, January–April: one timed paper a week (P1, P2, and P3 at HL in rotation), self-assessment with the markscheme, updating the real-world example bank (last 12 months), error log.
- May: exam-week routine.
One or two lessons a week plus 1–2 hours of economics news reading is enough; for exam-only support, a four-month programme from January focuses on essay and data-response practice.
Round out your IB Economics (SL / HL) prep with coaching
Tutoring teaches the material; coaching manages the process. Your Studrise coach brings your study routine, goals and application timeline into one plan alongside your IB Economics (SL / HL) lessons — so what you learn in class turns into results.
Weekly plan & check-ins
A study plan with regular progress check-ins.
Data-driven strategy
Targets and plans updated from practice-test results.
Motivation & test anxiety
Support with time management, motivation and exam nerves.
Aligned with applications
Planning built around your university and program goals.
ADD-ON PROGRAMME
How do I get started?
Coaching is a separately priced programme alongside your lessons. In the initial consultation we agree its scope and price and build a coaching plan that fits around your lesson schedule.
Initial consultation is free
Our tutors
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Frequently asked questions
Start working toward your IB Economics (SL / HL) goal today
Fill in the form; in a free initial consultation we settle your level, programme and exact price together. No crowded classroom, no idle hours: every lesson you pay for is one-on-one.