The aims of the economics course at higher level and standard level are to:

• provide students with a core knowledge of economics
• encourage students to think critically about economics
• promote an awareness and understanding of internationalism in economics
• encourage students' development as independent learners
• enable students to distinguish between positive and normative economics
• enable students to recognize their own tendencies for bias.

Assessment Outline - SL

EXTERNAL ASSESSMENT (3 hours) 80%

Paper 1 (1 hour and 30 minutes) 40%

An extended response paper (50 marks)

Assessment objectives 1, 2, 3, 4

Section A

Syllabus content: section 1—microeconomics

Students answer one question from a choice of two. (25 marks)

Section B

Syllabus content: section 2—macroeconomics

Students answer one question from a choice of two. (25 marks)

Paper 2 (1 hour and 30 minutes) 40%

A data response paper (40 marks)

Assessment objectives 1, 2, 3, 4

Section A

Syllabus content: section 3—international economics

Students answer one question from a choice of two. (20 marks)

Section B

Syllabus content: section 4—development economics

Students answer one question from a choice of two. (20 marks)

INTERNAL ASSESSMENT (20 teaching hours) 20%

This component is internally assessed by the teacher and externally moderated by the IB at the end of the course.

Students produce a portfolio of three commentaries, based on different sections of the syllabus and on published extracts from the news media.

Maximum 750 words x 3 (45 marks)

Assessment Outline - HL

EXTERNAL ASSESSMENT (4 hours) 80%

Paper 1 (1 hour and 30 minutes) 30%

An extended response paper (50 marks)

Assessment objectives 1, 2, 3, 4

Section A

Syllabus content: section 1—microeconomics

Students answer one question from a choice of two. (25 marks)

Section B

Syllabus content: section 2—macroeconomics

Students answer one question from a choice of two. (25 marks)

Paper 2 (1 hour and 30 minutes) 30%

A data response paper (40 marks)

Assessment objectives 1, 2, 3, 4

Section A

Syllabus content: section 3—international economics

Students answer one question from a choice of two. (20 marks)

Section B

Syllabus content: section 4—development economics

Students answer one question from a choice of two. (20 marks)

Paper 3 (1 hour) 20%

HL extension paper (50 marks)

Assessment objectives 1, 2 and 4

Syllabus content, including HL extension material: sections 1 to 4—microeconomics, macroeconomics, international economics, development economics

Students answer two questions from a choice of three. (25 marks per question)

INTERNAL ASSESSMENT (20 teaching hours) 20%

This component is internally assessed by the teacher and externally moderated by the IB at the end of the course.

Students produce a portfolio of three commentaries, based on different sections of the syllabus and on published extracts from the news media.

Maximum 750 words x 3 (45 marks)