Course overview
Economics examines how individuals, firms, and governments make choices under scarcity. Students learn to think like economists - building models, weighing trade-offs, and evaluating policy using real-world evidence.
What you will study
- Introduction to economics: scarcity, choice, and economic systems.
- Microeconomics: markets, elasticity, market failure, and government intervention.
- Macroeconomics: growth, unemployment, inflation, and fiscal/monetary policy.
- The global economy: trade, exchange rates, development, and sustainability.
Assessment
| Component | SL | HL | Description |
|---|---|---|---|
| Paper 1 (extended response) | 30% | 20% | Essay-style questions |
| Paper 2 (data response) | 40% | 30% | Analysis of real-world data |
| Paper 3 (policy paper, HL) | - | 30% | Quantitative and policy questions |
| Internal Assessment | 30% | 20% | Portfolio of three commentaries on news articles |