“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
― Winston S. Churchill

The study of economics is essentially about dealing with scarcity, resource allocation and the methods and processes by which choices are made in the satisfaction of human wants.

As a social science, economics uses scientific methodologies that include quantitative and qualitative elements.

Standard Level and Higher Level students of economics are presented with a common syllabus, with an HL extension in some topics.

The aims of the economics syllabus are to enable students to:

  • Develop an understanding of microeconomic and macroeconomic theories and concepts and their real-world application.
  • Develop an appreciation of the impact on individuals and societies of economic interactions between nations.
  • Develop an awareness of development issues facing nations as they undergo the process of change.

Standard Level Economics

External assessment: (3 hours) 80%

Paper 1: 1.5 hours, 40% – extended response paper. Students answer one microeconomic and one macroeconomic question from a choice of two for each section.

Paper 2: 1.5 hours, 40% – data response paper . Students answer one each question from a choice of two development economics and international economics questions

Internal assessment: 20%

Internally assessed by the teacher and externally moderated. Students produce a portfolio of three commentaries, based  on published extracts from the news media. Maximum 750 words x 3

Higher Level Economics

External assessment: (3 hours) 80%

Paper 1: 1.5 hours, 30% – extended response paper. Answer one microeconomic and one macroeconomic question from a choice of two for each section.

Paper 2: 1.5 hours, 30% – data response paper . Answer one each question from a choice of two development economics and international economics questions

Paper 3: 1 hour, 20% – Quantitative paper . Answer two questions from a choice of three

Internal assessment: 20%

Internally assessed by the teacher and externally moderated. Students produce a portfolio of three commentaries, based on published extracts from the news media. Maximum 750 words x 3

How I can help?

  • UK Qualified chartered accountant with extensive business and economics experience.
  • UK university lecturer teaching finance , accounting and economics modules.
  • Constantly sourcing engaging material to support to curriculum.
  • Assistance with sourcing and structuring material for internal assessment.
  • Interactive discussions for students to appreciate rather than memorise theory.

 

Scheduled Group Classes

SUBJECT SUITABLE FORDAY TIME REGISTER
IB EconomicsGrade 11/12 Thursday6.30-8.00 pm