IB Economics Paper 2 is the data-response paper. It tests your ability to analyse real-world economic data and apply economic theory to specific contexts.
Success in Paper 2 requires strong data interpretation skills and the ability to connect numbers to economic concepts.
Paper 2 format overview
Paper 2 provides economic data (articles, tables, charts) and asks questions of increasing difficulty:
- Part (a) — 2-4 marks: Define terms or describe data
- Part (b) — 4 marks: Calculate or analyse using the data
- Part (c) — 6 marks: Explain using data and theory
- Part (d) — 8 marks: Evaluate using data, theory, and your own knowledge
Data response technique
When analysing data:
- Always quote specific figures from the data
- Calculate percentage changes when relevant
- Identify trends and patterns — "GDP grew from $2.1 trillion in 2018 to $2.8 trillion in 2022"
- Link the data to economic theory — explain WHY the trend occurred
Practise your Paper 2 data-response skills and see how your answers score with our IB Past Paper Feedback tool.
Calculation questions
Paper 2 may include calculation questions. Be prepared to calculate:
- Percentage changes
- PED, PES, YED, XED
- Terms of trade
- GDP, GNI calculations
Always show your working and include units in your answer.
Common mistakes
- Not quoting data: Generic answers without data references lose application marks
- No diagrams for Part (c) and (d): Diagrams add analytical depth
- Rushing Part (d): The highest-value question deserves the most time
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