How to Do Well in IB Economics in 2025?

 IB Economics can be demanding. There's theory, there’s application, and then there’s the constant reminder that you’re supposed to think like an economist. But once you understand what the course is really asking of you, things start to fall into place. Here are a few things that can make a real difference.

Get to grips with the core ideas early on

IB Economics revolves around a set of key concepts—like scarcity, equity, sustainability, and intervention. These aren't just buzzwords. They’re the lens through which you're expected to analyze every issue. If you can connect what you’re learning to these ideas, you’ll do more than just answer the question—you’ll answer it well.

Diagrams matter more than you think

You’ll use diagrams all the time: for markets, for policies, for failures and fixes. But it’s not just about drawing them correctly. What matters is how well you explain what’s going on in the diagram. Keep your labels clear, show shifts properly, and link the diagram back to the real situation you're analyzing.

Write like someone who understands, not someone who memorised

The best economics students don’t try to sound clever. They try to be clear. When you write essays—especially for Paper 1 and Paper 2—keep your explanations simple and direct. Define terms if the question calls for it. Explain the theory, then apply it to a real-world example. But don’t just stop there. Weigh things up. What works? What doesn’t? Is there a better alternative?

Examples breathe life into your answers

It’s one thing to talk about subsidies in theory. It’s another to mention how India subsidises fertilisers or how Sweden handled fuel taxes. Real examples show that you actually understand how the subject applies beyond the textbook. They make your answers more convincing—and more memorable.

Understand what the examiner wants

Every exam question starts with a command term. These matter. “Explain” isn’t the same as “evaluate.” When the question says “discuss,” you’re expected to show both sides of an issue. If it says “to what extent,” your answer needs to be balanced, with a reasoned conclusion. Learn what each term requires, and build your answers around that.

The IA isn’t just homework—it’s 20–30% of your grade

Your internal assessment is a series of three short commentaries based on news articles. Each one should focus on a specific section of the syllabus (micro, macro, global), and connect to one or more of the key concepts. This is your chance to show how well you can apply theory to real issues. Choose your articles wisely. Keep your writing tight. And use diagrams with purpose, not just decoration.

Keep an eye on what’s going on in the world

A student who follows the news regularly has a huge advantage in IB Economics. Whether it’s inflation in Argentina, interest rate changes in the US, or fuel subsidies in Nigeria—these are the kinds of real-world events that can take your examples and evaluations to the next level. They also make the subject feel less abstract.

Practice helps—but smart practice helps more

Past paper questions are your best friend. Don’t just read them—write answers. Time yourself. Compare what you wrote to the markscheme. Look at examiner reports to understand where students often go wrong. This kind of targeted practice builds exam confidence and sharpens your technique.

Feedback isn’t just for polishing

The sooner you start showing your writing to someone—a teacher, a tutor, even a classmate—the faster you’ll improve. Ask them if your explanation makes sense. Check if your diagram supports your point. See if your evaluation has depth. Every piece of good feedback brings you one step closer to writing like an economist.

Final word

IB Economics rewards students who think. You don’t need to be a genius with numbers or a perfect essay writer. You just need to build a habit of asking: What’s going on here? Why? And what are the consequences?

Do that often enough, and the grades usually follow. Learn more about IB tutoring options at IB Elite Tutor

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