IB Economics Paper 2: assessment objectives and markschemes
IB Economics Paper 2 is a 105-minute data-response paper at SL and HL. It carries 40% at SL and 30% at HL; preparation should connect economic theory to the supplied evidence.
IB Economics Paper 2 is a 105-minute data-response paper at SL and HL. It carries 40% at SL and 30% at HL; preparation should connect economic theory to the supplied evidence.
Assessment structure for the current course
| Component | SL | HL |
|---|---|---|
| Paper 1 | 30% | 20% |
| Paper 2 | 40% | 30% |
| Paper 3 | Not taken | 30% |
| Internal assessment | 30% | 20% |
| Total | 100% | 100% |
Paper 1 is an extended-response paper. Paper 2 asks candidates to answer one of two data-response questions, for 40 marks. HL Paper 3 is a policy paper. The IA is a portfolio of three commentaries, each limited to 800 words, marked out of 45 overall.
Four assessment objectives
The course assesses knowledge and understanding, application and analysis, synthesis and evaluation, and the use of appropriate skills. There is no universal allocation of three marks to every definition or to an entire assessment objective: use the actual question and its markscheme.
Working with the stimulus
Before writing, identify the country, market, time period and units in the supplied material. Separate observations in the data from explanations you infer. For a numerical question, write the calculation and units. For a diagram, label axes and curves and then explain the change in the context of the extract.
For example, if a passage describes a tax on a polluting product, explain the cost or incentive that changes. A supply-and-demand diagram should support that explanation. Discuss who pays, how consumers and producers may respond, and which assumptions limit the result. Do not import a memorized policy conclusion without checking the evidence.
Building an evaluative answer
Use a claim, an economic mechanism, relevant evidence and a qualification. Distinguish short-run and long-run effects when relevant. A reasoned conclusion weighs the strongest effects and states what further information would alter your judgment. These are writing suggestions, not a substitute for the question-specific markbands.
A practical revision cycle
- Attempt a current-syllabus Paper 2 question under its stated timing.
- Mark it using the matching official markscheme.
- Record whether each lost mark came from terminology, calculation, application or reasoning.
- Redo the weakest sub-question with fresh wording and explicit evidence.
Use the 105-minute paper budget for reading, answering and checking. An invented universal 20-minute-per-question rule is not an IB requirement. Grade boundaries vary by examination session; a practice response cannot guarantee a final grade.