Syllabus

Overview of the IB Economics Course

IB Economics is a dynamic subject that helps students understand how economic decisions are made and how they affect individuals, societies, and the world. At its core, economics deals with scarcity, the idea that while people have unlimited wants, resources are limited, so choices must be made. 

The course has three main areas (not including the introduction unit):

• Microeconomics, which looks at how consumers and producers interact in individual markets
• Macroeconomics, which focuses on the national economy and government policies
• The global economy, which examines international trade, development, and global interdependence

Students learn to apply economic models and theories to real-world situations and explore key global challenges like sustainability, inequality, and government intervention. The course encourages critical thinking about the balance between free markets and public regulation, as well as the impacts of economic activity on the environment and access to resources.Throughout the course, students use nine key concepts (including scarcity, efficiency, equity, and sustainability) to analyze six major real-world issues. By doing so, they develop a deeper understanding of how economies function and the role of economics in creating a more just and sustainable world.

Download the official IB syllabus for economics: