Latest IB Economics Syllabus

The IB Economics curriculum in Singapore is built upon nine fundamental concepts: scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, and intervention. This structure aims to encourage students to establish connections between these central ideas, thereby deepening their grasp of the subject.

Students can opt to pursue IB Economics at either the Higher Level (HL) or Standard Level (SL). HL students are required to complete papers 1, 2, and 3, as well as their Internal Assessment, while SL students must undertake their Internal Assessment and complete papers 1 and 2.

Excelling in this course demands a commitment to staying well-informed about the latest global economic developments, a prerequisite applicable to all IB economics students.

Common Challenges Students Faced in IB Economics

Complexity of Concepts

IB Economics covers intricate economic theories and models that can be challenging to grasp. Students may struggle to understand concepts such as elasticity, market structures, and macroeconomic policies, leading to difficulties in applying them to real-world scenarios.

Analytical Skills

The IB Economics curriculum emphasises critical thinking and analytical skills. Students are expected to evaluate economic data, make informed judgments, and construct coherent arguments. Developing these skills can be demanding, particularly for those who are new to economic analysis.

Time Management

IB programmes are rigorous, and students often need to balance multiple subjects and assignments simultaneously. Managing time effectively to keep up with coursework, internal assessments, and exam preparation can be a significant challenge.

Interdisciplinary Nature

Economics is an interdisciplinary subject, and students are required to draw from various fields like mathematics, politics, and sociology. Integrating these diverse elements into their understanding of economics can be complex and may require additional effort and research.