Paper 1 might be considered a very traditional style exam. As you will see when you take a look at the example papers, you'll get some questions and blank paper. In essence you are writing essays.
One thing to be very aware of for this paper is the need for you to integrate your own real life examples. It's a must if you are aiming for the top grades. In this way there's a link between Paper 2 and the IA - in all cases economics is explored by examples and case studies.
SL = 30% of the final grade
HL = 20% of the final grade
SL & HL
answer 1 essay / choice of 3
SL & HL
1hr 15mins / 25 marks
All units could be examined
As the first exams in 2022 we do not know appropriate grade boundaries yet . However, the boundaries you see below might give us a good estimate of what to expect. There are some differences to be aware note. The old equivalent of Paper 1 was out of 50 marks, but your paper is 25 marks. Also, notice that the boundaries are different for SL and HL - this can be taken further. There are normally slight differences from year to year as the boundaries reflect the relative difficulties of the exam paper