Group 3: Individuals & SocietiesSL AvailableHL Available

IB Economics

Study of microeconomics, macroeconomics, and global economic issues.

IB Economics develops understanding of economic theory and its real-world applications. Students analyze how individuals, firms, and governments make decisions about resource allocation and study the interconnected global economy. The current course was first assessed in 2022 and is last assessed in 2029.

SL & HL
Levels offered
90 min
One-to-one lessons
$95
Lowest rate per lesson
Max 6
IB group programs
Prices and optionsRequest a tutor
Whiteboard in an IB Economics HL lesson: a supply and demand diagram marked at the equilibrium point, the price elasticity of demand formula with its elastic-to-perfectly-inelastic ranges, and market failure examples from externalities to monopoly power.
From a live online one-to-one IB Economics HL lesson at the TestPrep Group
Course Introduction

Why Economics Matters

Your grade in IB Economics counts toward the 45-point Diploma, and many university courses ask for a particular grade in the subject, often at Higher Level.

Foundation for business and economics degrees
Develops analytical and evaluative thinking
Understanding of current economic events
Valuable for policy and finance careers
Whiteboard in an IB Economics SL lesson: supply and demand, market equilibrium at price P-star and quantity Q-star, elasticity and market failure, with two hand-drawn price-quantity diagrams and a teaching summary.
Standard Level
SL Overview

SL covers core micro and macroeconomics with real-world applications in 150 hours.

Higher Level
HL Overview

HL extends into advanced theory, quantitative techniques, and deeper policy analysis in 240 hours.

Career Pathways

FinanceBankingConsultingPublic PolicyInternational DevelopmentBusiness ManagementEconomic Research

Economics syllabus topics

The topics of the subject guide. Lessons follow your school's order and level.

Unit 1
Introduction to Economics
  • What is economics?
  • How do economists approach the world?
Unit 2
Microeconomics
  • Demand and supply
  • Elasticity
  • Market failure
  • Role of government in microeconomics
Unit 3
Macroeconomics
  • Measuring economic activity
  • Macroeconomic objectives
  • Inequality and poverty
  • Fiscal, monetary and supply-side policies
Unit 4
The Global Economy
  • International trade
  • Exchange rates
  • Balance of payments
  • Economic development

How lessons approach Economics

Understanding the concepts, and answering the papers the way the markscheme rewards.

Conceptual Understanding
Deep mastery of core concepts
  • Master graphical analysis thoroughly
  • Connect theory to real-world examples
  • Understand both sides of economic debates
  • Practice evaluating policies critically
Exam-Specific Techniques
Targeted preparation for IB assessments
  • Learn to draw diagrams quickly and accurately
  • Practice data interpretation skills
  • Master the evaluation framework
  • Know HL calculations thoroughly

Past papers and markschemes

IB Economics past papers, used in lessons alongside the questions from your own school.

How marks are won in Economics

1
Draw clear, correctly labeled diagrams
2
Always evaluate with both pros and cons
3
Use real-world examples in essays
4
Practice IA article selection criteria
5
Review assessment criteria for each paper

IB Economics: lessons, prices and how to start

One-to-one lessons are 90 minutes, live online. Prices are set per program, so they are the same for every IB Diploma subject.

IB Economics one-to-one tutoring packages
Single lesson$100Per lesson: $100Buy a lesson
10 lessons$970Per lesson: $97Buy package
20 lessonsLowest rate$1,900Per lesson: $95Buy package

Group options

IB group teaching runs as three programs, priced by the number of subjects you take, in groups of at most 6:

IA, EE and TOK supervision is one-to-one, from $100 for a single lesson.

How do you start?

Request a free consultation: it is a conversation about your goals and timeline, not a lesson or a test. There is no separate diagnostic test for IB Diploma, because no single test stands in for a school syllabus. The first lesson does the assessment: your tutor works through your recent marked work and past-paper questions from your own specification, and reads where you stand. It is a normal paid lesson, not a free trial, and it teaches as it assesses.

Request a free consultation

Refunds

Not satisfied after your first private lesson? Full (100%) refund. No score is guaranteed. Full terms.

Every IB Diploma priceAll IB Diploma subjects

IB Economics — Frequently Asked Questions

What is the difference between IB Economics SL and HL?
Standard Level: SL covers core micro and macroeconomics with real-world applications in 150 hours. Higher Level: HL extends into advanced theory, quantitative techniques, and deeper policy analysis in 240 hours. The choice matters for university admission as much as for workload — many courses require the subject at HL specifically.
How is IB Economics assessed?
Externally assessed: Paper 1 (SL: 30% / HL: 20%), Paper 2 (SL: 40% / HL: 30%), Paper 3 (HL) (HL: 30%). Internally assessed: Portfolio (SL: 30% / HL: 20%). The internal assessment is marked by your teacher and moderated by the IB, and because it is completed over months rather than in an exam hall it is the component students most often leave too late.
What topics does IB Economics cover?
The syllabus covers 4 topics: Introduction to Economics, Microeconomics, Macroeconomics and The Global Economy. Lessons follow your school's order, so tutoring supports your class rather than running alongside it.
Does IB Economics count for university credit?
May grant credit for introductory economics. Recognition varies by university and usually applies to Higher Level only, so check the policy of each institution you are applying to.
Where does IB Economics lead?
It is commonly taken by students heading towards Finance, Banking, Consulting, Public Policy and 3 more. If your intended degree lists the subject as a requirement, taking it at Higher Level is usually what admissions expects.