TN Economics: IB Economics Syllabus

The following link is to the official PDF file for the IB economics syllabus:
http://www.ibo.org/diploma/assessment/subjectoutlines/documents/d_3_econo_gui_out_1011_1_e.pdf

First Examinations-2013

The Economics syllabus this year has changed. The class of 2012, who had their examinations just before summer did the old syllabus. The new syllabus applies to applicants for first examinations in 2013.

Syllabus Outline/Summary

As with many courses now, the final outcome of your grade will not only come from examinations alone. You will be required to do the following:

Internal Examinations - 3 IA(Internal Assessment) Commentaries (SL and HL)

For the internal assessments, you will be required to produce a portfolio of 3 commentaries, each of them based on different sections of the syllabus. It is recommended that you do the following in order:

Microeconomics - E.g. Demand & Supply, Taxation, Market Failure, Theory of the Firm etc.
Macroeconomics - E.g. Unemployment, Inflation, Income Distribution, Economic growth etc.
International Economics(Recommended) or Development Economics

Condition(s)

Each commentary must not exceed 750 words

Included : sub-headings, headings on graphs/tables that exceed 10 words, labels that exceed 5 words

Not included : article posted onto document, headings on graphs/tables that exceed 10 word, labels that exceed 5 words

News article date must not be before one year before you start your IB course.

E.g. I started my IB diploma programme on 1st September 2011 (For first examinations 2013), earliest article taken is 1 year before, hence 1st September 2010.

Any graphs you include in your commentary must not be taken from a secondary source

Naturally, this implies that you must draw your graphs using software such as photoshop, Paint etc.

Each article is taken from a different and appropriate source
Each article is based on a different section of the syllabus

Marking/Grade Weighting

Each commentary is worth 15 marks, a total of 45 marks
For both SL and HL, the 3 IA's will make up 20% of your final grade

External Examinations

Unlike the old syllabus, the new syllabus aims to assess each student to understand all 4 sections in the economics syllabus. Reason? Because many people would rather answer questions on microeconomics or macroeconomics rather than international economics or development economics. (I would have done the same :p)

Standard Level

Higher Level

Standard Level will consist of 2 papers:

Paper 1-Extended Response(50 Marks)

Section 1-Microeconomics

Part (a) Knowledge Question - 10 marks

Part (b) Evaluation Question - 15 marks

Section 2-Macroeconomics

Part (a) Knowledge Question - 10 marks

Part (b) Evaluation Question - 15 marks

Paper 2-Data Response (40 Marks)

Section 1-International Economics

2 Definitions (2 marks each)

2 Short Answer Questions (4 marks each)

1 Long Answer Evaluation Question (8 mark)

Section 2-Development Economics

2 Definitions (2 marks each)

2 Short Answer Questions (4 marks each)

1 Long Answer Evaluation Question (8 mark)

Paper 1 - 40% , Paper 2 - 40%

Standard Level will consist of 3 papers:

Paper 1-Extended Response (50 Marks)

Section 1-Microeconomics

Part (a) Knowledge Question - 10 marks

Part (b) Evaluation Question - 15 marks

Section 2-Macroeconomics

Part (a) Knowledge Question - 10 marks

Part (b) Evaluation Question - 15 marks

Paper 2-Data Response (40 Marks)

Section 1-International Economics

2 Definitions (2 marks each)

2 Short Answer Questions (4 marks each)

1 Long Answer Evaluation Question (8 mark)

Section 2-Development Economics

2 Definitions (2 marks each)

2 Short Answer Questions (4 marks each)

1 Long Answer Evaluation Question (8 mark)

Paper 3-Numerical (50 Marks)

3 Long 'part' Questions 25 marks each
Answer 2 Questions
Questions are based on:
Microeconomics and Macroeconomics

Micro
Demand & Supply
Costs/revenues/theory of the firm
Price elasticity of demand
Indirect Taxation and Subsidies affecting supply

Macro
CPI (Cost Price Index)
Inflation Rates
Direct and Indirect taxation calculations

Question Types
Plotting demand and supply curves
2/3 mark calculation questions
4 mark questions explaining economic theories
Filling in Tables (Cost and Revenues)

Paper 1 - 30% , Paper 2 - 30% ,

Paper 3 - 20%

The internal assessments are a good way to get boost your overall grade, and give you extra confidence when you enter the exam room. But make sure you also work hard and revise fully because ultimately, the examinations are the most important.

For the 2013 IB Economics Specimen Paper, please refer to the link below:
http://blogs.4j.lane.edu/yamada/files/2009/09/2013-specimens.pdf