IB Economics HL vs SL: Complete Guide to Papers, IA, and Assessment (2022-2029)

Choosing between IB Economics Higher Level (HL) and Standard Level (SL) is a significant decision that affects your IB Diploma journey and university applications. ETG Economics is a specialized A-Level and IB Economics tuition centre in Singapore, founded by Eugene Toh in 2007. With 18 years of teaching experience across both A-Level and IB curricula, Eugene Toh (NUS B.A. Economics, SMU M.Sc. Applied Economics, author of the H1/H2 TYS answer keys published by SAP) helps IB students master both the content and exam techniques required for top grades. ETG operates across Bukit Timah, Kovan, Pasir Ris, Bedok, Upper Thomson, with Zoom live lessons and 116+ online replay recordings available for flexible learning.

Whether you're deciding between HL and SL, or need to understand exactly what IB Economics exams require, this complete guide breaks down the official IB assessment structure for the 2022-2029 syllabus.

IB Economics at a glance: HL vs SL comparison

Aspect

Standard Level (SL)

Higher Level (HL)

Teaching Hours

150 hours

240 hours

Total Exam Time

3 hours

4 hours 45 minutes

Number of Papers

2 papers

3 papers

External Assessment

70% of grade

80% of grade

Internal Assessment (IA)

30% of grade

20% of grade

Microeconomics Content

35 hours (up to topic 2.9)

70 hours (up to topic 2.12)

Macroeconomics Content

40 hours

75 hours

Global Economy Content

45 hours

65 hours

HL Extension Topics

None

Asymmetric information, Market power, Equity

The fundamental difference between HL and SL isn't just time—it's depth and breadth of analysis. HL students study additional market failure topics, tackle a third examination paper focused on policy recommendations, and are expected to demonstrate more sophisticated economic evaluation.

Paper structure breakdown: What you'll actually face

Paper 1: Extended Response (Essay)

Format for both HL and SL:

  • Duration: 1 hour 15 minutes

  • Based on all syllabus units (except the introductory unit)

  • Students answer essay questions requiring extended written responses

Weighting:

  • SL: 30% of final grade

  • HL: 20% of final grade (because HL has Paper 3)

What this paper tests: Paper 1 assesses your ability to construct coherent, well-structured economic arguments using appropriate theories, models, and real-world examples. You'll need to explain economic concepts clearly and evaluate their applications critically.

Sample Paper 1 questions (from official IB materials):

  • "Explain two tools open to a central bank to conduct expansionary monetary policy" (10 marks)

  • "Using real-world examples, evaluate the effectiveness of monetary policy to achieve low unemployment" (15 marks)

At ETG Economics, students practice Paper 1 responses using structured frameworks that ensure comprehensive coverage of theory, diagrams, real-world application, and balanced evaluation—the four pillars of high-scoring IB Economics essays.

Paper 2: Data Response

Format for both HL and SL:

  • Duration: 1 hour 45 minutes

  • Based on all syllabus units

  • Students analyze real-world economic data presented in text, tables, and graphs

  • Questions require interpretation of data, application of economic theory, and evaluation

Weighting:

  • SL: 40% of final grade (highest-weighted component)

  • HL: 30% of final grade

What this paper tests: Paper 2 assesses your ability to interpret economic data, identify relevant economic concepts, apply appropriate analytical tools, and evaluate economic information in real-world contexts. The data-response format requires you to extract insights from articles, statistics, diagrams, and tables.

Sample Paper 2 question (from official IB materials):

  • "Using an exchange rate diagram, explain how the increase in the interest rate by the Nigerian central bank might prevent the continued fall in the value of the naira"

This paper heavily rewards students who can move fluidly between data interpretation and economic theory application. ETG's approach emphasizes extracting the "economic story" from data before applying relevant frameworks—a skill that dramatically improves Paper 2 performance.

Paper 3: Policy Paper (HL ONLY)

Format:

  • Duration: 1 hour 45 minutes

  • Based on all syllabus units

  • Students receive economic data about a specific country or scenario

  • Questions require policy recommendations using economic theory

Weighting:

  • HL: 30% of final grade

What this paper tests: Paper 3 is unique to HL and represents the pinnacle of IB Economics assessment. It requires you to synthesize knowledge across microeconomics, macroeconomics, and the global economy, then recommend specific policies while evaluating trade-offs, unintended consequences, and stakeholder impacts.

Sample Paper 3 question (from official IB materials):

  • "Using the data provided, and your knowledge of economics, recommend a policy that could be introduced by the government of Country X in response to the expected fall in the world price of coffee"

This question type demands:

  1. Analysis of provided data (economic indicators, trends, context)

  2. Application of multiple economic theories

  3. Consideration of policy options from different economic "toolboxes" (fiscal, monetary, supply-side, trade)

  4. Evaluation of each policy's effectiveness given the specific country context

  5. A clear, justified recommendation with acknowledgment of limitations

Paper 3 is where HL students demonstrate the sophisticated economic reasoning that universities value. ETG's HL students practice systematic policy evaluation frameworks that ensure comprehensive, well-structured responses under time pressure.

Content differences: What HL students study that SL students don't

Both HL and SL students study four units:

  1. Introduction to Economics

  2. Microeconomics

  3. Macroeconomics

  4. The Global Economy

However, HL extends significantly beyond SL in depth and breadth.

Microeconomics (Unit 2):

SL covers topics 2.1 through 2.9:

  • Demand and supply

  • Market equilibrium

  • Elasticity

  • Government intervention

  • Market failure: externalities, public goods

HL adds topics 2.10 through 2.12:

  • Market failure: Asymmetric information (adverse selection, moral hazard)

  • Market failure: Market power (monopoly, oligopoly implications)

  • The market's inability to achieve equity (income/wealth distribution, fairness considerations)

These HL extension topics require more sophisticated analysis of why markets fail and the complexities governments face when intervening.

Macroeconomics (Unit 3): While both levels cover the same topics, HL requires deeper analytical treatment, more complex diagram manipulation, and greater attention to nuances (e.g., shapes of aggregate supply curves under different assumptions, time lags in policy effectiveness).

The Global Economy (Unit 4): Similar pattern—same topics covered, but HL demands more sophisticated analysis of trade-offs, evaluation of international economic policies, and understanding of complex global interdependencies.

Teaching time allocation:

  • SL Microeconomics: 35 hours

  • HL Microeconomics: 70 hours (double the time for deeper coverage plus extension topics)

This isn't about HL being "twice as hard"—it's about developing more nuanced economic reasoning and tackling more complex real-world scenarios.

Internal Assessment (IA): The portfolio of three commentaries

The IA portfolio is identical in structure for both HL and SL, though the weighting differs. This section is critically important because it's internally assessed, giving you more control over your grade.

IA Portfolio Structure

Format:

  • Portfolio of three commentaries

  • Each commentary: 800 words maximum (not including diagrams, titles, bibliography)

  • Each based on a different unit of the syllabus (Unit 2 Microeconomics, Unit 3 Macroeconomics, or Unit 4 The Global Economy—not the introductory unit)

  • Each analyzed using a different key concept

  • Each based on a published news article

  • Time allocation: 20 hours

Weighting:

  • SL: 30% of final grade

  • HL: 20% of final grade

IA Assessment: Total 45 Marks

The portfolio is marked as follows:

Per Commentary: 14 marks

  • Criterion A: Diagrams (3 marks)

  • Criterion B: Terminology (2 marks)

  • Criterion C: Application and Analysis (3 marks)

  • Criterion D: Key Concepts (3 marks)

  • Criterion E: Evaluation (3 marks)

Portfolio Rubric Requirements: 3 marks

  • 1 mark: Each article covers a different unit of the syllabus

  • 1 mark: Each article comes from a different source

  • 1 mark: Each article was published no earlier than one year before writing the commentary

Total: (14 × 3) + 3 = 45 marks

The Nine Key Concepts (WISE ChoICES)

Each of your three commentaries must use a different key concept as the analytical lens:

  1. Scarcity

  2. Choice

  3. Efficiency

  4. Equity

  5. Economic well-being

  6. Sustainability

  7. Change

  8. Interdependence

  9. Intervention

These key concepts help you connect economic theory to large-scale economic issues. For example, analyzing a carbon tax policy through the lens of "sustainability" or examining Singapore's housing policy through "equity."

Breaking Down Each Assessment Criterion

Criterion A: Diagrams (3 marks)

What examiners want:

  • Relevant, accurate, and correctly labeled diagram(s)

  • Full explanation of the diagram in your commentary text

  • Quantitative information from the article integrated into diagrams where possible

Common mistakes:

  • Unlabeled axes or curves

  • Missing equilibrium points or letters (E1, E2)

  • Diagrams with no explanation in the text

  • Too many diagrams without sufficient depth

ETG guidance: Use 1-2 highly relevant diagrams rather than 4-5 superficial ones. Each diagram should be fully titled (e.g., "The Market for Electric Vehicles in Singapore"), with all curves labeled (D1, D2, S1, S2), equilibrium points marked (E1, E2), and relevant areas shaded (deadweight loss, consumer surplus, etc.). Most importantly, refer to your diagram explicitly in your written analysis.

Criterion B: Terminology (2 marks)

What examiners want:

  • Appropriate use of economic vocabulary throughout the commentary

  • Terms used correctly, showing understanding of their meaning

Examples of strong terminology use:

  • "price inelastic demand" (not just "demand")

  • "allocative efficiency" (not just "efficiency")

  • "contractionary fiscal policy"

  • "negative externalities of consumption"

Common mistakes:

  • Using vague language ("the price goes up" instead of "the equilibrium price increases")

  • Misusing technical terms

  • Failing to define key concepts when first introduced

Criterion C: Application and Analysis (3 marks)

What examiners want:

  • Relevant economic theory applied to the article throughout

  • Effective economic analysis showing cause-and-effect relationships

  • Facts and data from the article integrated with economic theory

Strong application:

  • "According to the article, Singapore's carbon tax increased from $5 to $25 per tonne of emissions. Using a negative externalities diagram, this tax internalized the external cost of pollution, shifting the supply curve leftward from S (MPC) to S+tax (MSC), reducing equilibrium quantity from Q1 to Q2..."

Weak application:

  • "The article talks about carbon tax. This is a government intervention that can reduce pollution."

Criterion D: Key Concepts (3 marks)

What examiners want:

  • One of the nine key concepts clearly identified

  • The link between the key concept and the article fully explained

  • The key concept woven throughout the analysis (not just mentioned once)

Example of strong key concept integration (Sustainability): "This article examines sustainability, particularly intergenerational equity in resource use. Singapore's carbon tax addresses the sustainability challenge by pricing environmental costs today, preventing future generations from bearing the burden of current pollution. The policy balances present economic activity with long-term environmental preservation..."

Criterion E: Evaluation (3 marks)

What examiners want:

  • Judgment, reasoning, and arguments about the economic situation

  • Consideration of multiple perspectives (consumers, producers, government, environment)

  • Discussion of short-run vs long-run effects

  • Recognition of limitations, trade-offs, or unintended consequences

Strong evaluation includes:

  • Stakeholder analysis: "While consumers benefit from lower prices, domestic producers face reduced competitiveness..."

  • Time considerations: "In the short run, unemployment may rise, but long-run productivity gains could offset this..."

  • Limitations: "The effectiveness of this policy depends on price elasticity of demand. If demand is inelastic, the policy may fail to achieve the intended reduction in consumption..."

  • Trade-offs: "The government faces a trade-off between equity and efficiency..."

Common evaluation mistakes:

  • Simply listing "advantages and disadvantages" without depth

  • Stating evaluative points without explaining why they matter

  • Ignoring the specific context of the article

  • No concluding judgment

Finding Appropriate Articles

What makes a good IA article?

Good article characteristics:

  • Published within the past year (from when you write the commentary)

  • From reputable news sources (The Straits Times, CNA, Bloomberg, The Economist, Financial Times, BBC)

  • Focused on a specific economic issue (not covering too many topics)

  • Contains quantitative data you can analyze

  • Rich in economic content but written for general audience (not academic papers)

  • 400-800 words in length (shorter, focused articles work better than long, sprawling pieces)

Avoid:

  • Opinion pieces or editorials (you want news reporting, not someone else's analysis)

  • Academic journal articles or research papers

  • Articles older than one year

  • Blog posts or unreliable sources

  • Articles that already provide extensive economic analysis (leaving nothing for you to add)

Singapore context examples that work well:

ETG students often select articles about:

Microeconomics (Unit 2):

  • HDB resale price trends and government cooling measures

  • COE prices and demand for vehicles

  • Minimum wage debates for platform workers

  • Carbon tax implementation and environmental policy

  • Hawker centre food price increases

Macroeconomics (Unit 3):

  • MAS monetary policy adjustments (Singapore's exchange rate policy)

  • Government Budget announcements and fiscal policy

  • Unemployment rates and skills mismatch

  • Income inequality and redistributive policies

  • GST increases and inflationary impacts

The Global Economy (Unit 4):

  • RCEP or CPTPP trade agreement impacts

  • Singapore's trade relationship with specific countries

  • Exchange rate fluctuations (SGD vs USD, EUR, etc.)

  • Foreign direct investment trends

  • Sustainable development initiatives

IA Commentary Structure: ETG's Recommended Approach

Word count strategy: All 800 words must be used effectively

Typical allocation:

  • Introduction (50-80 words): Define key terms, identify the key concept, establish context

  • Diagram explanation (150-200 words): Explain your diagram(s) thoroughly with reference to the article

  • Application and analysis (300-400 words): Apply economic theory systematically, showing cause-and-effect

  • Evaluation (250-300 words): Discuss stakeholders, limitations, trade-offs, short/long-run effects

  • Brief conclusion (20-50 words): Synthesize your judgment

What NOT to include in word count:

  • Acknowledgments

  • Table of contents

  • Diagrams themselves

  • Diagram titles (up to 10 words)

  • Labels with no more than 5 words

  • Statistical data tables

  • Equations, formulas, calculations

  • In-text citations (though these must appear in the commentary)

  • Bibliography/references (these should be footnotes or endnotes)

Common IA Pitfalls ETG Helps Students Avoid

1. Weak article selection Problem: Choosing articles with insufficient economic content, or articles that are too broad Solution: Spend time searching for the right article. A strong article makes writing the commentary significantly easier.

2. Diagram overload Problem: Including 4-5 diagrams superficially rather than 1-2 diagrams with deep explanation Solution: ETG teaches "diagram depth over breadth"—one excellent diagram with 150 words of explanation beats three diagrams with 50 words each.

3. Descriptive rather than analytical Problem: Summarizing the article instead of applying economic theory Solution: After stating what the article says, always follow with "This can be analyzed using [economic theory]..." then explain the theory and connect it back to the article.

4. Shallow evaluation Problem: Listing "advantages and disadvantages" without development Solution: For each evaluative point, explain why it's significant, who is affected, and under what conditions it applies.

5. Word count management Problem: Either submitting a thin 500-word commentary or writing 1,200 words and cutting crucial analysis Solution: Practice writing to exactly 800 words. Use every word purposefully. ETG provides IB IA workshops.

6. Weak key concept integration Problem: Mentioning the key concept once in the introduction, then never referring to it again Solution: Weave the key concept throughout your analysis. In a "sustainability" commentary, repeatedly connect your analysis to intergenerational equity, long-term environmental impacts, etc.

7. Poor bibliography and citations Problem: Missing sources, incorrect citation format, or failure to cite data from the article Solution: Use proper footnotes/endnotes for in-text citations. Include full source details for the article in your bibliography.

ETG's IA Support Process

ETG provides structured IA guidance that maximizes your portfolio score:

  1. Article selection workshops (Term 1-2 of DP1): Students learn to evaluate article quality and suitability

  2. Commentary structure templates: ETG's proven frameworks for each unit and key concept combination

  3. Draft review sessions: Individual feedback on structure, analysis depth, and evaluation quality

  4. Diagram workshops: Practice creating clear, accurate, fully labeled diagrams efficiently

  5. Word count optimization: Techniques for writing concisely while maintaining analytical depth

Remember: Your teacher can only provide formal feedback once per commentary, so ETG's additional support helps you refine your work before submitting to your teacher.

Assessment objectives: What examiners are actually looking for

IB Economics has four assessment objectives (AOs) that define what you're expected to demonstrate across all assessment components.

AO1: Knowledge and Understanding

  • Demonstrate understanding of economic content

  • Show knowledge of current economic issues and data

  • (HL only) Demonstrate knowledge of HL extension topics

AO2: Application and Analysis

  • Apply economic concepts to real-world situations

  • Identify and interpret economic data

  • Analyze how economic information is used in specific contexts

  • Explain links between concepts and real-world issues

AO3: Synthesis and Evaluation

  • Examine and evaluate economic concepts and theories

  • Construct coherent arguments using economic concepts and examples

  • Discuss and evaluate economic information critically

  • (HL only) Synthesize and evaluate HL extension topics

  • (HL only) Make policy recommendations using economic theory

AO4: Use and Application of Appropriate Skills

  • Produce well-structured written responses

  • Create accurate, relevant diagrams

  • Interpret news media extracts appropriately

  • Interpret data sets correctly

  • Use quantitative techniques to analyze economic relationships

How these AOs map to grade boundaries:

Students aiming for grade 7 (highest) must demonstrate:

  • Comprehensive knowledge with sophisticated understanding

  • Perceptive application of theory to complex scenarios

  • Balanced, nuanced evaluation considering multiple perspectives

  • Clear, precise communication with exemplary diagram use

Students achieving grade 5-6 demonstrate solid understanding and consistent application but may lack the depth of evaluation or sophistication of analysis required for top grades.

At ETG Economics, students develop these skills progressively through structured practice, moving from basic application (AO1-AO2 level) to sophisticated evaluation and synthesis (AO3-AO4 level) that characterizes grade 7 performance.

HL vs SL: Which should you choose?

Choose IB Economics HL if:

  1. You're targeting Economics-related university degrees

    • Many top universities (especially in UK/Europe) prefer or require HL Economics

    • HL provides significantly stronger preparation for university-level Economics

  2. You enjoy analytical thinking and policy evaluation

    • Paper 3 is intellectually rewarding for students who enjoy synthesizing information and making recommendations

    • The HL extension topics (asymmetric information, market power, equity) are fascinating and highly relevant to real-world policy debates

  3. You're comfortable with sustained written analysis

    • HL has more written examination time (4h 45min vs 3h)

    • Paper 3 requires sophisticated, multi-layered policy analysis

  4. You want to develop advanced economic reasoning

    • HL's depth prepares you for Economics at top universities

    • The analytical skills transfer to other subjects and careers

Choose IB Economics SL if:

  1. You're taking other demanding HL subjects

    • If you're already taking HL Math, HL Sciences, or other intensive HLs, SL Economics allows you to maintain strong performance across your diploma

    • Remember: IB Diploma requires 3-4 HLs total, not six HLs

  2. Economics isn't your primary university pathway

    • If you're pursuing Medicine, Engineering, Pure Sciences, or Arts/Humanities, SL Economics provides excellent economic literacy without the time investment of HL

  3. You want solid Economics understanding without maximum depth

    • SL covers core economic concepts thoroughly

    • You'll still develop strong analytical skills, just with narrower scope than HL

ETG's perspective: HL is achievable with proper support

Many students fear HL Economics unnecessarily. With structured teaching and proper frameworks, HL Economics is very manageable—it's not about being a "genius," it's about learning systematically with expert guidance.

ETG has helped numerous students excel at IB Economics HL (achieving 7s) by:

  • Breaking down Paper 3 policy analysis into systematic frameworks

  • Providing extensive practice with real IB past papers

  • Offering detailed IA feedback to maximize internal assessment scores

  • Teaching efficient diagram techniques that save time in exams

If Economics interests you and might be part of your university plans, we strongly encourage you to take HL. The additional content isn't "harder"—it's more comprehensive, and with ETG's support, it's highly achievable.

How ETG Economics helps IB students excel

ETG Economics provides comprehensive IB Economics tuition for both HL and SL students, with curriculum-aligned teaching and exam-focused strategies.

Specialized IB Economics support:

  • Complete syllabus coverage for both HL and SL, aligned with IB Assessment Objectives

  • IA guidance including article selection workshops, commentary structure templates, and individual draft feedback

  • Past paper practice using actual IB examination questions with detailed examiner report analysis

  • Command term mastery through systematic practice of different question types

  • Paper 3 frameworks (HL) for policy recommendation questions, teaching systematic evaluation of multiple policy options

  • Diagram technique workshops ensuring accurate, efficient diagramming under time pressure

Flexible learning options:

  • Onsite classes at Bukit Timah, Kovan, Pasir Ris, Bedok, Upper Thomson

  • Zoom live lessons for students who prefer learning from home

  • 116+ online replay recordings allowing students to revisit concepts anytime

  • 24/7 WhatsApp access to Mr Eugene Toh for questions between lessons

Results:

While ETG specializes primarily in A-Level Economics, IB students benefit from Eugene Toh's 18 years of economics teaching experience and mastery of economic pedagogy. The analytical frameworks, evaluation structures, and exam techniques transfer seamlessly from A-Level to IB contexts.

Financial assistance:

ETG offers 25-100% subsidies for students with demonstrated financial need, ensuring that excellence in Economics education is accessible regardless of family circumstances.

Exam preparation strategies: Working smarter, not just harder

For Paper 1 (Extended Response):

  1. Master the essay structure:

    • Introduction: Define key terms, establish context

    • Body paragraphs: Theory → Diagram → Real-world application → Evaluation

    • Conclusion: Synthesize arguments, provide reasoned judgment

  2. Time management:

    • 1 hour 15 minutes total

    • Allocate ~35-40 minutes per major section of your response

    • Leave 5 minutes for planning and 5 minutes for review

  3. Diagram technique:

    • Draw diagrams large enough to be clearly labeled

    • Include all necessary labels (axes, curves, equilibrium points, shifts)

    • Refer explicitly to your diagram in written analysis

For Paper 2 (Data Response):

  1. Extract the economic story first:

    • Read all data carefully (text, tables, graphs)

    • Identify key trends, relationships, and economic issues

    • Then match to relevant economic theories

  2. Use data effectively:

    • Quote specific figures from extracts

    • Calculate percentage changes when relevant

    • Reference graphs and tables explicitly

  3. Balance breadth and depth:

    • Cover all required points in your response

    • But develop each point with sufficient explanation and evaluation

    • Avoid superficial lists

For Paper 3 (HL only):

  1. Systematic policy evaluation framework:

    • Identify the economic problem clearly (from data provided)

    • Consider policies from different categories (demand-side, supply-side, interventionist, market-based)

    • Evaluate each policy: effectiveness, trade-offs, time lags, stakeholder impacts

    • Justify recommendation based on country-specific context

  2. Use the data provided:

    • Paper 3 gives you extensive economic data

    • Reference this data throughout your response

    • Show how data informs your policy recommendation

  3. Acknowledge complexity:

    • Strong Paper 3 responses recognize that there's no "perfect" policy

    • Every policy involves trade-offs

    • Your recommendation should acknowledge limitations while justifying why it's the best option given constraints

For the IA:

  1. Start early:

    • Don't leave all three commentaries to the last minute

    • Spread them across DP1 and early DP2

    • Aim for: Commentary 1 (Unit 2) in DP1 Term 2, Commentary 2 (Unit 3 or 4) in DP1 Term 3, Commentary 3 (remaining unit) in DP2 Term 1

  2. Article selection is crucial:

    • Spend significant time finding articles with rich economic content

    • Ensure the article allows for multiple economic concepts and evaluation angles

    • Verify the article is from a reputable, verifiable source

  3. Diagram quality matters:

    • One or two highly relevant, accurate diagrams is better than multiple weak diagrams

    • Label everything clearly

    • Explain your diagrams thoroughly in the text (150+ words per diagram)

  4. Focus on evaluation:

    • This is one of the highest-weighted criteria (3 marks out of 14)

    • Consider: multiple stakeholders, short-run vs long-run, limitations of policies, unintended consequences

Frequently asked questions

Q: Is IB Economics HL significantly harder than SL?

No. HL covers more content and requires deeper analysis, but it's not "significantly harder" in terms of difficulty. With proper teaching frameworks and systematic practice, HL Economics is very achievable. The key difference is breadth and depth, not inherent difficulty. ETG students find that structured frameworks make HL manageable and rewarding.

Q: Can I use the same news article for multiple IA commentaries?

No. IB requires each of your three commentaries to be based on a different news article. Additionally, each commentary must be based on a different unit of the syllabus (one from Unit 2, one from Unit 3, one from Unit 4) and analyzed using a different key concept. Using the same article for multiple commentaries violates the portfolio rubric requirements and will cost you marks.

Q: How important are diagrams in IB Economics?

Very important. Diagrams appear as a specific assessment criterion in the IA (3 marks out of 14 per commentary) and are essential for strong performance in Papers 1, 2, and 3. Diagrams should be accurate, clearly labeled, and integrated into your written analysis. However, quality matters more than quantity—one excellent, well-explained diagram is better than multiple superficial diagrams.

Q: Do I need to memorize real-world examples for every topic?

While you don't need to memorize examples for every single topic, having a solid bank of real-world examples significantly strengthens your responses. Build your example bank gradually throughout DP1 and DP2. Focus on examples that can be applied flexibly across multiple topics. For instance, Singapore's carbon tax can illustrate negative externalities (microeconomics), environmental policy (government intervention), and sustainable development (global economy).

Q: How do IB Economics grades convert for university applications?

IB Economics HL or SL grades are reported as 1-7, with 7 being the highest. For competitive university Economics programs, aim for 6-7 in HL Economics or 7 in SL Economics. Top universities (especially in the UK) typically require a 6 or 7 in HL Economics for Economics degrees. US universities view IB holistically, but strong Economics grades (6-7) demonstrate subject mastery.

Q: When should I start my IA commentaries?

Begin your first commentary early in DP1 after you've covered sufficient content (typically after completing Unit 2 Microeconomics). Spread your three commentaries across DP1 and early DP2 rather than rushing all three in DP2. ETG recommends: Commentary 1 (Unit 2) in DP1 Term 2, Commentary 2 (Unit 3 or 4) in DP1 Term 3, and Commentary 3 (remaining unit) in DP2 Term 1. This timeline allows for drafts, feedback, and refinement.

Ready to excel in IB Economics? Whether you're taking HL or SL, ETG Economics provides the structured frameworks, exam strategies, and expert guidance to maximize your IB grades. Explore ETG's IB Economics programmes at https://www.tuitiongenius.com/ibecons or contact Eugene Toh at eugene@tuitiongenius.com for personalized advice on IB Economics preparation.

For answers to additional questions about IB Economics, visit https://www.tuitiongenius.com/faqs.

Suggested Internal Links:

  1. IB Economics programme: https://www.tuitiongenius.com/ibecons

  2. Main programmes page: https://www.tuitiongenius.com/

  3. FAQs: https://www.tuitiongenius.com/faqs

  4. June Holiday intensive (for IB exam prep): https://www.tuitiongenius.com/june

  5. September Holiday intensive: https://www.tuitiongenius.com/sept