Economics HL is the study of economic theory and its applications in the world today. Students interpret economic data and statistics, apply relevant theory, and demonstrate this knowledge using written prose, diagrams and economic terminology. Taking Economics HL online will enable students to develop a critical understanding of a range of economic theories, models, ideas and tools in the areas of microeconomics, macroeconomics and the global economy; learn real world applications of economic theory, and meet and study with students and teachers from around the world.
The Economics course is being revised for September 2020 to reflect the changes in the IB Subject Guide (first examinations May 2022). Course updates include:
- Enhanced content to better support students in making real world connections and obtain deeper understanding of the interrelationships between topics.
- Inclusion of the new integrated topics; Economics of the environment and Economics of inequality and poverty.
- Support for the new assessment model; changes to exam paper structures and scope, and change to the internal assessment portfolio
The course covers the following topics:
- Course Overview
- Introduction to Economics
- Competitive Markets
- How do markets fail?
- Internal Assessment
- Market Failure – market power
- The National Economy
- Employment and Inflation
- Unemployment and Economic Growth
- Year One Revisited
- Income Distribution and Macro Policies
- Free Trade Vs. Protectionism
- Exchange Rates
- Balance of Payments
- Measure of Economic Development
- Barriers to Economic Development
- Aid, Debt and Economic Development
- Exam Revision
What is different in taking Economics HL online?
Students will have the opportunity to:
- access source material in a variety of media
- access a structured learning environment that provides flexibility and support in equal measure
- study alongside students from around the world
- gain experience of using the latest online learning tools
- regularly communicate with teachers and fellow students
Some things won’t be different though. Standards and expectations will be just as high as in a face to face classroom.
Activities and assessment
The emphasis is on learning actively together and activities include live online discussions, creating presentations, learning from videos and interactive exercises. Throughout the Economics HL course, students engage in online discussions, debates, article analysis and group research projects.
Students are assessed through the use of quizzes and tests. We also provide traditional activities such as essay writing to prepare them for the exams.
Assessment will be both formative and summative and in accordance with IB criteria.
Advice from our teachers
In order to succeed in Economics HL, we recommend students set aside seven to ten hours a week.
Benefits to students
Taking Economics HL online will enable students to:
- learn real world applications of economic theory
- understand the areas of microeconomics, macroeconomics and the global economy
- meet and study with students and teachers from around the world.
- become experienced in a wide range of technical and social tools
- develop 21st century skills like time management, communication and digital literacy which are much in demand by employers
Pilot the Pamoja Online Course for up to four weeks from the day the course commences.
Hodder Education eTextbook
This course is dependent on student etextbooks provided by Hodder Education and hosted on the Dynamic Learning platform. Please ensure you check the Hodder Dynamic Learning guidance to ensure your systems are able to access this service. This service is provided as part of the Pamoja course fee - find out more.