# IB Economics tutoring online

> Our IB Economics tutors teach the Diploma Programme Economics course at SL and HL in live 1:1 or small-group online classes. Lessons cover microeconomics, macroeconomics and the global economy, with practice on extended-response essays, data-response questions and, for HL students, the policy paper, alongside guidance on the three-commentary internal assessment portfolio.

Source: https://www.gradeupinternational.com/ib/economics
Last updated: 2026-10-01
Publisher: GradeUp International (https://www.gradeupinternational.com/)

Taught by: our most qualified teachers for the subject.

IB Economics suits students interested in how markets, governments and countries make decisions, and it supports degrees in economics, business, finance, politics, law, international relations and public policy. Many economics degrees value strong mathematics as much as prior economics, so the subject is often paired with Maths AA. The guide, first assessed in 2022, is built around four units: an introduction to economics, microeconomics, macroeconomics and the global economy, with HL adding further theoretical and quantitative material.

SL candidates sit Paper 1, an extended-response paper of 1 hour 15 minutes worth 30%, and Paper 2, a 1 hour 45 minute data-response paper worth 40%. HL candidates take the same two papers, weighted at 20% and 30%, plus Paper 3, a 1 hour 45 minute policy paper worth 30%. The internal assessment is a portfolio of three commentaries on news articles, contributing 30% at SL and 20% at HL, with each commentary linked to a key concept such as scarcity or sustainability.

Students who took IGCSE, GCSE or MYP economics or business arrive with useful vocabulary but rarely with practice in accurate diagrams and sustained evaluation. IB Economics expects essays to combine definitions, labelled diagrams, real-world examples and balanced judgement. Calculations in Paper 2, and policy recommendations in HL Paper 3, catch out students who only revise theory. We build a bank of current examples with each student and drill diagram drawing until it becomes quick and precise.

## How is IB Economics examined?

### IB Diploma Programme Economics, International Baccalaureate Organization

| Paper | Duration | Marks | Weighting |
| --- | --- | --- | --- |
| Paper 1: extended response | 1 hour 15 minutes | 25 | 30% SL / 20% HL |
| Paper 2: data response | 1 hour 45 minutes | 40 | 40% SL / 30% HL |
| Paper 3: policy paper (HL only) | 1 hour 45 minutes | 60 | 30% HL |
| Internal assessment: portfolio of three commentaries |  | 45 | 30% SL / 20% HL |

First assessment 2022. Teaching hours: 150 (SL) / 240 (HL). Key concepts: scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence and intervention.

Official syllabus: https://www.ibo.org/programmes/diploma-programme/curriculum/individuals-and-societies/economics/

## What topics are in IB Economics?

- Unit 1: Introduction to economics: Defining scarcity and opportunity cost loosely, without reference to limited resources and choice.
- Unit 2: Demand, supply and elasticities: Shifting a curve when a movement along it is required, or the reverse.
- Unit 2: Government intervention in markets: Drawing price ceilings or floors on the wrong side of the equilibrium price.
- Unit 2: Market failure: Placing the welfare loss triangle incorrectly on externality diagrams.
- Unit 2: Market power and the theory of the firm (HL): Mislabelling marginal revenue and average revenue curves in monopoly diagrams.
- Unit 3: Measuring economic activity and aggregate demand and supply: Confusing real and nominal GDP, or short-run and long-run aggregate supply.
- Unit 3: Macroeconomic objectives: Defining unemployment or inflation correctly but not evaluating their costs in context.
- Unit 3: Demand-side and supply-side policies: Recommending a policy without considering time lags or unintended side effects.
- Unit 4: International trade and exchange rates: Labelling exchange-rate diagrams with the wrong currency on each axis.
- Unit 4: Balance of payments: Placing transactions in the wrong account of the balance of payments.
- Unit 4: Sustainable development: Discussing development using only GDP figures instead of broader indicators.
- Internal assessment: commentary portfolio: Choosing articles that do not link clearly to the selected key concept.

## How do you get top marks?

- Define key terms at the start of each Paper 1 answer and keep definitions precise.
- Draw large, fully labelled diagrams and explain every shift in your writing rather than leaving the diagram to speak for itself.
- In Paper 2, show working for each calculation, including the formula used, so partial credit is possible.
- Evaluate with specific considerations such as short run versus long run, the stakeholders affected and underlying assumptions.
- Support essays with real, recent examples that name the country and the policy.
- In HL Paper 3, state your policy recommendation clearly and justify it using the data provided.

## Fees

1:1: PKR 3,500 / AED 140 / GBP 28 per 60-minute class. Small group: PKR 12,500 per month. [All currencies](https://www.gradeupinternational.com/pricing).

## Frequently asked questions

### What is the IB Economics IA?

The IB Economics IA is a portfolio of three commentaries, each analysing a recent news article using economic theory and diagrams. It contributes 30% of the final grade at SL and 20% at HL. Each commentary links to a key concept, such as scarcity, efficiency, equity or sustainability. Choosing articles that allow clear analysis and evaluation is the first step towards a strong portfolio.

### Should I take IB Economics HL or SL?

Take IB Economics HL if you plan to study economics or a closely related degree and enjoy quantitative analysis, but requirements vary, so check each university's published entry requirements. HL adds market power and theory of the firm content plus the policy-focused Paper 3. SL still covers all four units and suits students who want a sound grounding with a lighter workload.

### Is IB Economics hard?

IB Economics is manageable for most students who keep up with diagrams, definitions and real-world examples, but it becomes hard when revision is left late. The main challenges are writing balanced evaluation under time pressure and handling calculations in the data-response paper. Reading economic news regularly makes essays easier, because you will already have examples ready to use.

### What is IB Economics Paper 3?

IB Economics Paper 3 is a Higher Level policy paper lasting 1 hour 45 minutes and worth 30% of the HL grade. It asks you to use data and economic analysis to reach a policy recommendation. Success depends on careful calculations, clear diagrams and a recommendation that is justified rather than simply asserted. SL students do not sit this paper.

### Do I need maths for IB Economics?

You need basic numerical confidence for IB Economics, including percentages, elasticities and simple graph work, but advanced mathematics is not required for the course itself. HL involves more quantitative content, so steady algebra helps. Many university economics degrees do set mathematics requirements, which vary, so check each university's published entry requirements if you plan to continue the subject.

### How do I get a 7 in IB Economics?

There is no guaranteed way to reach a 7, yet precise definitions, accurate diagrams, current examples and genuine evaluation in every answer put you in a strong position. Practise timed essays and data-response questions regularly, and seek feedback on your commentaries early. Reviewing mark schemes helps you understand what separates analysis from description.