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v0.1.103
NotesEconomics HL
All Subjects

IB Economics HL HL Notes

Economics

Aimnova provides free IB Economics Higher Level revision notes for the 2024–2029 syllabus, covering all 4 units plus HL extensions: Theory of the Firm, quantitative demand/supply analysis, Phillips curve, Gini coefficient, multiplier calculations, and comparative advantage with tariff/quota welfare analysis. Each topic features detailed notes, worked examples, exam tips, flashcards, and practice questions with AI feedback.

IB Economics Higher Level extends the SL course with quantitative techniques, Theory of the Firm, and deeper analysis of macroeconomic and trade models. HL students face an additional Paper 3 that tests calculations involving elasticities, multiplier effects, linear demand/supply, and welfare analysis.

Use the structured unit list below to revise systematically and ensure all HL-only material is covered before Papers 1, 2, and 3.

What's included

  • 25+ topics across 4 units, aligned to the IB 2024–2029 syllabus
  • Notes with definitions, economic models, diagrams, and real-world examples
  • Spaced-repetition flashcards for key terms and diagram labels
  • IB-style exam questions with AI feedback on your answers
  • SL and HL coverage with level toggle
  • Free to access — no account required for notes

How to use Economics HL notes

  1. 1Start with a unit overview. Click any Unit heading to see all topics and key economic concepts covered.
  2. 2Read micro-topic notes. Each topic links to detailed notes with definitions, diagrams, and real-world examples.
  3. 3Test with flashcards. Use spaced-repetition flashcards to memorise key terms, definitions, and diagram labels.
  4. 4Practise exam questions. Apply economic theory with IB-style questions and get AI feedback on your answers.
Economics SL NotesEconomics Question BankEconomics Flashcards

Unit 1: What is Economics?

1.1What is economics?
1.2How do economists approach the world?

Unit 2: Microeconomics

2.1Demand
2.2Supply
2.3Competitive market equilibrium
2.4Critique of maximizing behaviour of consumers and producers
2.5Elasticity of demand
2.6Elasticity of supply
2.7Role of government in microeconomics
2.8Market failure: externalities and common pool resources
2.9Market failure: public goods
2.10Market failure: asymmetric information
2.11Market failure: market power
2.12The market’s inability to achieve equity

Unit 3: Macroeconomics

3.1Measuring economic activity and illustrating its variations
3.2Variations in economic activity: aggregate demand and aggregate supply
3.3Macroeconomic objectives
3.4Economics of inequality and poverty
3.5Demand management: monetary policy
3.6Demand management: fiscal policy
3.7Supply-side policies

Unit 4: The Global Economy

4.1Benefits of international trade
4.2Types of trade protection
4.3Arguments for and against trade control/protection
4.4Economic integration
4.5Exchange rates
4.6Balance of payments
4.7Sustainable development
4.8Measuring development
4.9Barriers to economic growth and/or economic development
4.10Economic growth and/or economic development strategies

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