Economics

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.

Economics - Higher Level Weight 80%

Economics - Standard Level Weight 70%

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

Internal Assessment. Weight HL =20%, SL =30%

• 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