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U2FsdGVkX1/LIbT2BeVKShfjuMCWcH+NxKHV4csu4eKZxEXS97Hql3WYJmTMFWEE6W7jVH5n0XpL8/UVuzs5I09ckaAjIf+9DtPvNDJh8TDSN6L5MXqm1m+2pp7l8dIMpzr1IsxPD0E7eoMeZZmS6Gnfv2GGko3xJgkX3rK3XpvjhjZC9RjysYEzFV+bBjTRzhqoCNWG85tH8Tf+UwIhEeFhHXilBkTt7zGQ8r42Cs/ac4zg+TlKDaAyKVW1c+KOiAvr8EXpeISvbCeH+2BJ5mYRXBLyHqh9gCc30FNv6ynrE7nrWas1WzLmne8GRa6GgGfgyyNJJX3yIj8CpUfjxdHLwlcO1C77ZmcWSPAEy/IRerRGgc8d0lG0sxO3kBEcWXReCwI2/++yGKoaYYSZ4Q==

U2FsdGVkX1/IDTsrLPNWkzF5RsPy15er0XZA6igTgbzkIpB6JzH+xWcYYqZQjvAOzV8slpT3QHrShIRQX2mTCa7hH4CVUj026VMw0nVKGvC8yROiC9tB9WDS73SmzJBzq/Aa9sBaBcHEPqyFD0b0XclVGM9RXHgPzBQI249n4r0vsjctf6svNPPvr+sHUPMXFsHH1rRJaoRVmUXeLq0fDYLvFeqZzAqVDVL1lYyje3z1ku0TPy19kO3/v1bo6PtesYXoaBlaq3EyvSrUqII5OSfKNUfR4uNtIgmiLRU6lH8=

EC0400

EC0421

EC0397

Paper 1

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Paper 2

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Paper 3

Everything you need to know about the IB Economics Internal Assessment!

 Assessment-style questions to practice for exams and to develop knowledge of real-world examples (RWEs).

Develop your understanding in IB Economics HL using custom-built flashcards, perfect for quick study sessions on desktop or mobile app.

Foundations

Foundations (all)

Scarcity, Choice, Opportunity Cost, Production Possibilities Curve, Circular Flow Model

Scarcity, Choice, and the PPC

Economic Methodology, History of Economic Thought

How Economists Approach the World

Microeconomics Part I

Demand, Supply, and Equilibrium

Elasticities

Law of Demand, Law of Supply, Determinants of Demand & Supply, Equilibrium, the Price Mechanism, Allocative Efficiency

Demand & Supply, Equilibrium

Price Elasticity of Demand (PED), Income Elasticity of Demand, Price Elasticity of Supply (PES)


Behavioural Economics, Alternative Business Objectives

Behavioural Economics

Microeconomics Part II

Government Intervention

Market Failure

Market Power

Taxes, Subsidies, Price Controls, Impact of Government Intervention

Negative Externalities, Positive Externalities, Common Pool Resources, Public Goods, Asymmetric Information, Equity

Perfect Competition, Imperfect Competition, Monopoly, Costs, Revenue, Profit Maximisation

Macroeconomics

Economic Output, AD & AS

Macroeconomic Objectives, Inequality and Poverty

Monetary, Fiscal, and Supply-Side Policies

Economic Activity, Business Cycle, Aggregate Demand, Aggregate Supply, Keynesian & New Classical/Monetarist Views of AS


Economic Growth, Unemployment, Inflation, Sustainability

Macroeconomic Objectives

Equality and Equity, Poverty, Addressing Poverty and Inequality

Inequality & Poverty

Monetary Policy, Money Creation, Fiscal Policy, Keynesian Multiplier, Evaluating Monetary Policy & Fiscal Policy


Monetary Policy & Fiscal Policy

Market-Based Supply-Side Policies, Interventionist Supply-Side Policies, Effectiveness of Supply-Side Policy

Supply-Side Policies

The Global Economy

Free Trade, Trade Protection, and Economic Integration

Exchange Rates and the Balance of Payments

Economic Development

Benefits of Trade, Comparative & Absolute Advantage, Trade Protection, Arguments For & Against Trade Protection

Free Trade & Trade Protection

Trade Agreements, Trading Blocs, Monetary Unions, World Trade Organization

Economic Integration

Types of Exchange Rates, Currency Markets, The Balance of Payments (BOP), Impact of Current Account Deficits

Exchange Rates & the Balance of Payments

Single Indicators of Economic Development, Composite Indicators of Economic Development, Economic Growth

Poverty Traps, Economic Barriers, Political and Social Barriers, Economic Growth Strategies

Promoting Economic Growth & Development

In this section, you will find sequenced, intensive workshops designed specifically to provide you everything you need to produce an IB Economic Internal Assessment Portfolio.

These case studies follow the format of Paper 1, Paper 2, and Paper 3. Each set includes exam-style questions supported by real-world examples (RWEs). The included mark schemes and sample answers offer strong practice for each paper, and the RWEs will help you develop your own knowledge of economics. 

In the IB Economics HL (Higher Level) Key Understandings section, you will find summary videos that will help you review the most important concepts and skills necessary for success. They are ideal for a quick refresher before tackling questions in the Revision Village Questionbank or Practice Exams sections of the website.

IB Economics HL - Mock Exams
Mock Exam Set 1 - Paper 1

Question 1

Question 2

Question 3

#1 IB Math Resource

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More IB Economics HL Resources

Questionbank

Assessment Practice

Practice Exams

Key Understandings

Past Papers

Internal Assessment (IA)

Flashcards

IB Economics HL - Mock ExamsMock Exam Set 1 - Paper 1