Published January 17, 2024
Everything You Need to Get a 7 on IB Economics
High School Sophomore from West Virginia, Avid Classics Enthusiast, Marketing Intern and Blog Writer at Knowt :)
Hey there! This article is all about our tips for how to study for the IB Economics exam to get a solid 7. I'll break down the tricks, and IB Economics test prep so with the right strategies and IB Economics resources, nailing the exam is totally doable!
Hey, no worries if you're in a last-minute cramming session for IB Economics! We totally get it, and trust me, we've all been there too! So, if you're wondering how to ace the IB Economics exam when you're running out of time, here are some awesome resources and IB Economics exam tips created by fellow students that will help you cram like a boss.
This ULTIMATE IB Economics Study Guide - pretty much everything you need to know for the exam, written by a former IB Economics student!
Our Favorite Additional Site for IB Economics
The exam is broken down into FOUR assessments (THREE for SL) - here is a breakdown of what you’ll need to know and what to expect from each section:
Paper 1 of the Economics HL exam is like a thrilling race against time! You've got 1 hour and 15 minutes to showcase your economic wizardry. Get ready to dive into a world of extended responses, where your mission is to dissect all the units from the syllabus. This paper is all about demonstrating your deep understanding of economics by applying theories, models, and concepts to real-world scenarios. Think of it as your chance to shine by connecting classroom learning to the complex, buzzing world of economics out there! Remember, it's a test of your knowledge, skills, and your ability to think like a true economist. So, gear up, get your economic thinking cap on, and get ready to ace Paper 1!
Ready to tackle Paper 1 of Economics HL? Here are some handy tips! First, practice makes perfect: do lots of past papers to get familiar with the question style and time pressure. Time management is key – allocate your time wisely between questions. Understand the syllabus inside out, focusing on key concepts and theories. When answering, clarity is your best friend; make your points clear and concise. Use real-world examples to illustrate your points, and don't forget to explain economic terms. Lastly, review your answers if time permits, ensuring they're well-structured and address the question directly.
Paper 2 in Economics HL is your chance to dive deep into economic issues with your data response skills! You'll have 1 hour and 45 minutes to show off your analytical prowess. This paper is all about interpreting and evaluating economic data based on the entire syllabus. It's like being an economic detective, where you get to unravel the mysteries behind numbers and graphs. Your task is to connect theoretical economic models to real-world data, making sense of complex economic scenarios. So, sharpen your analytical tools, and get ready to explore the exciting world of economic data in Paper 2!
Ready for Paper 2 in Economics HL? Here's how to ace it! First, get comfy with graphs and data - they're your best buds here. Practice interpreting different types of economic data. Be clear and direct in your answers, connecting data to economic theories. Time management is super important, so plan your responses wisely. Use real-world examples to strengthen your arguments, and explain how they link to economic concepts. Finally, keep your answers focused and relevant to the questions asked.
The portfolio part of the Economics HL course is all about showcasing your economic insight through a series of commentaries. You'll create a portfolio of three commentaries, each focusing on different units of the syllabus (except the introductory unit). These commentaries should be based on published news media extracts and analyzed using various key economic concepts. It's your time to shine by blending theory with real-world events, demonstrating your understanding of economics in action. Think of it as your personal economic journal, where you get to be the analyst and commentator!
For the portfolio section in Economics HL, start by choosing intriguing, recent news articles related to economics. Then, analyze them using economic theories and concepts from your course. Make sure each commentary focuses on a different area of the syllabus. Balance theory with practical application, and don't forget to cite your sources. Write clearly, concisely, and critically. This is your chance to demonstrate not just what you know, but how you apply it to real-world scenarios. And remember, quality over quantity!
Paper 3 for Economics HL is all about policy paper questions, covering the entire syllabus. In this 1 hour and 45 minutes exam, you'll need to demonstrate your understanding of economic policies and their implications. This is your opportunity to shine by applying economic theories and concepts to policy issues. Think of it as your moment to play the role of an economic advisor, using your knowledge to suggest practical solutions to economic problems. Get ready to put your economic thinking cap on and delve into the world of policymaking!
For Paper 3 in Economics HL, first, familiarize yourself thoroughly with economic policies and their impacts. Practice applying theories to real-world policy issues. In the exam, carefully read each question and plan your answers, focusing on clarity and relevance. Use specific examples and economic terminology accurately. Also, manage your time well to answer all questions thoroughly. Lastly, review your answers for precision and directness in addressing the policy issues. Good luck!
For Paper 1, focus on understanding and applying economic theories to real-world scenarios. Read past Paper 1 questions and try working them out. Additionally, work on your writing skills and make sure that you can consistently write clear concise essays with a clear beginning, middle and end, along with transitions between each paragraph.
For Paper 2, get comfortable with interpreting economic data and graphs, linking them to economic concepts. Look up past economic graphs and see how well you can pick apart the data and interpret the graphs. That is a huge part of Paper 2!
Paper 3 is all about policies, so study various economic policies and their impacts thoroughly. Make sure to use legitimate sources!
For your portfolio, regularly read news articles and practice applying economic theories to current events. Make sure to go over the IB Economics exam review and your IB Economics online IB notes to ensure success. Remember, practice past papers, stay organized, and keep your study sessions interactive and engaging!