In IB Economics, we cover the following four main sections of economic theory:

  • Micro: focuses on the actions of individuals, firms and industries like the dynamics between buyers and sellers (demand and supply)
  • Macro: takes a much broader view by analyzing the economic activity of an entire country or the international marketplace
  • International economics: a branch of economics that studies economic interactions among different countries, including foreign trade (exports and imports), foreign exchange (trading currency), balance of payments, and balance of trade.
  • Development economics: a branch of economics that deals with economic aspects of the development process in low-income countries (methods of promoting economic growth, economic development, structural change)

In Economics, you are getting a good introduction to economic theory and how the theories are applied as a governing tool for both firms and governments. The subject focuses on applying economic theory on real world examples.

Students choosing the subject should have a general interest for society and the ability to think logically, abstract and independently.

Economics is taught in one common group with two different levels: High Level (HL) and Standard Level (SL). In HL some subjects are covered more in-depth, and also some mathematics is included.


SL students have two written exams at the end of the last year, HL students have three written exams. These exams account for 80% of the grade, and are externally marked.


During the course, all students will hand in three individual papers in which they use economic theory to analyze a news article. These papers are internally marked and accounts for 20% of the grade




av Lauritsen, Vibeke, publisert 6. oktober 2013 | Skriv ut siden