Master the IB Economics Standard Level exam. Learn paper structures, command terms, marking criteria, and how to score top marks with diagrams and real-world examples.
150 teaching hours • 2 external papers • 1 internal assessment (portfolio)
Know exactly what to expect in each paper and how to maximize your marks.
Three sections, each based on a different part of the syllabus. Each section contains one question split into two parts: part (a) worth 10 marks and part (b) worth 15 marks. You answer ONE complete question.
What to expect:
Key Tips
Easy Marks
Watch Out
Two questions based on different real-world economic data and articles. Each question contains structured sub-parts building from low-order to high-order thinking. You answer ONE question.
What to expect:
Key Tips
Easy Marks
Watch Out
Command terms tell you exactly what the examiner expects. Filter by Assessment Objective (AO).
Match your answer depth to the marks available.
Example questions:
One clear point per mark. No diagrams or analysis needed.
Example questions:
Include a labelled diagram and refer to it in your explanation. Apply to a specific context.
Example questions:
Show cause-and-effect chains using diagrams. Apply to the specific context and consider multiple effects.
Example questions:
Present both sides using theory + diagrams. Consider stakeholders, short-term vs long-term, and real-world limits. End with a clear, justified conclusion.
These concepts appear throughout Economics exams. Master them to score higher.
Economics exams reward accurate, fully labelled diagrams. Supply/demand, AD/AS, cost curves, tariff diagrams — each one can earn 2–4 marks. Always draw them even if not explicitly asked.
Apply theory to real economies — name countries, policies, events. "Venezuela's hyperinflation" is stronger than "a country experiencing inflation".
Link answers to scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, and intervention. Examiners specifically look for this.
Master calculations: PED, YED, XED, multiplier, Gini coefficient, terms of trade. Always show your working AND interpret the result.
Learn from others' mistakes. These cost students marks every exam session.
Drawing diagrams without labels
Label EVERY axis, curve, equilibrium point, and shift. Write a title. Refer to the diagram in your text.
One-sided arguments in Evaluate/Discuss questions
Present arguments FOR and AGAINST, then give a reasoned conclusion with a judgment.
Theoretical answers with no real-world application
Name specific countries, companies, or policies. "The EU carbon tax" is better than "a tax on pollution".
Calculating without interpreting
After every calculation, write what it means: "A PED of 0.3 means demand is price inelastic, so a tax will not significantly reduce quantity demanded."
Ignoring the data in Paper 2/3
Quote specific figures from the text and data: "GDP growth fell from 4.2% to 1.1% (Figure 1), indicating..."
Not linking diagrams to written analysis
Refer to your diagram explicitly: "As shown in Figure 1, the shift from AD₁ to AD₂ leads to..."
Running out of time on the 15-mark question
Use the 1-minute-per-mark rule. Start the 15-mark question with at least 15–18 minutes left.
30% of final grade • 2,250 words maximum (3 × 750 words)
A portfolio of three commentaries based on different published media articles. Each commentary must use a different section of the syllabus (Microeconomics, Macroeconomics, The Global Economy) and apply economic theory with diagrams.
Marking Criteria
Tips for Top Marks
Apply these exam skills with our Economics practice questions. Get instant AI feedback that shows exactly what scored marks and how to improve.