The aims of the Economics course at HL and SL are to:
develop a critical understanding of a range of economic theories, models, ideas and tools in the areas of microeconomics, macroeconomics and the global economy
apply economic theories, models, ideas and tools and analyse economic data to understand and engage with real-world economic issues and problems facing individuals and societies
develop a conceptual understanding of individuals’ and societies’ economic choices, interactions, challenges and consequences of economic decision-making.
Having followed the Diploma Programme course in Economics, candidates will be expected to:
have an understanding and knowledge of economic concepts and theories
apply economic theory to a range of circumstances and a variety of situations
analyse information through the use of economic concepts and theories
evaluate concepts and theories from different economic perspectives.
Nature of the Subject
Paper 1 HL/SL (1 hour and 15 minutes) - An extended response paper. (25 marks) Weight = 20% HL/30% SL
The structure of this paper is the same for both HL/SL although the content may differ
The questions are each subdivided into two parts, (a) 10 marks and (b) 15 marks
Questions in this paper are drawn from the four units of the syllabus including the HL extension material and topics studied at HL only
Students answer one question from a choice of three.
Paper 2 (1 hour and 45 minutes) A stimulus response paper. (40 marks) Weight = 30% HL/40% SL
The structure of this paper is the same for both HL/SL although the content may differ
Students answer one question from a choice of two.
The questions are each subdivided into seven parts based on the stimulus with (g) 15 marks
Paper 3 HL ONLY (1 hour and 45 minutes ) Weight = 30%
A policy paper (60 marks)
Syllabus content including HL extension material. Includes both quantitative and qualitative questions.
Students answer two compulsory questions. (30 marks per question)
N.B.: The course is divided into 4 sections :-Section 1: Introduction to Economics Section 2: Microeconomics, Section 3: Macroeconomics 4: The Global Economy
Students produce a portfolio of three commentaries, based on different units of the syllabus (excluding the introductory unit) and on published extracts from the news media.
Each of the three commentaries should use a different key concept as a lens through which to analyse the published extracts.
These will submitted in April of Year 12, September and December of Year 13