Group 3 · Individuals & Societies · 2025 syllabus
IB Economics
4
Units
30
Topics
150h
SL hours
240h
HL hours
Introduction to economics
10h SL · 10h HL- 1.1
What is economics?
- 1.2
How do economists approach the world?
Microeconomics
35h SL · 70h HL- 2.1
Demand
- 2.2
Supply
- 2.3
Competitive market equilibrium
- 2.4
Critique of the maximizing behaviour of consumers and producers
- 2.5
Elasticity of demand
- 2.6
Elasticity of supply
- 2.7
Role of government in microeconomics
- 2.8
Market failure: externalities and common pool or common access resources
- 2.9
Market failure: public goods
- 2.10
Market failure: asymmetric information
- 2.11
Market failure: market powerHL
- 2.12
The market's inability to achieve equity
Macroeconomics
40h SL · 75h HL- 3.1
Measuring economic activity and illustrating its variations
- 3.2
Variations in economic activity: aggregate demand and aggregate supply
- 3.3
Macroeconomic objectives
- 3.4
Economics of inequality and poverty
- 3.5
Demand management: monetary policy
- 3.6
Demand management: fiscal policy
- 3.7
Supply-side policies
The global economy
45h SL · 65h HL- 4.1
Benefits of international trade
- 4.2
Types of trade protection
- 4.3
Arguments for and against trade control/protection
- 4.4
Economic integration
- 4.5
Exchange rates
- 4.6
Balance of payments
- 4.8
Measuring development
- 4.9
Barriers to economic growth and/or economic development
- 4.10
Economic growth and/or economic development strategies
Track your progress through this syllabus
Baccly's interactive checklist lets you tick off all 556 statements as you cover them, then drill each one with matching practice questions. All free.