St Edward's IB Guide 2026

ECONOMICS

Economics offers pupils a brand-new perspective on the world around them. The questions asked throughout the course help pupils explore their day-to-day lives and the wider world in a new light. Why are prices rising so quickly? What factors determine people’s future income? Why are some people and countries rich, and others poor? The IB course is a superb introduction to the subject, overviewing many of the topics that an undergraduate degree covers in more detail. The course enables pupils to develop a wide range of skills, with analytical and mathematical skills featuring strongly alongside extended essay writing. We emphasise real-world, up-to-date context, leading to a genuinely dynamic learning experience. Course structure Unit 1 is an introductory unit, helping pupils think through what economics is, and how economists view the world. Unit 2 covers microeconomics. Pupils examine the basic decision-making framework of individuals and businesses, and learn how the interactions of these decisions lead to the allocation of resources and the setting of prices around the economy. The course explores the extent to which this free market system works, why it can go disastrously wrong, and the ways in which governments can attempt to fix it. The higher-level course explores how monopoly power influences market outcomes. Unit 3 covers macroeconomics. Pupils learn how the very same market systems covered in microeconomics lead to big-picture changes that affect everyone: economic growth, inflation rates, unemployment. The course explores the government’s role in promoting key macroeconomic objectives in the national economy. Unit 4 explores the global economy, considering the significance and patterns of international trade, the impacts of policies to restrict trade, such as tariffs, and the drivers of development in the world’s poorest countries. Beyond the course The economics department at Teddies also affords lots of opportunities for pupils to engage in economics outside the classroom, with a rich set of learning opportunities available to pupils, including clinics to secure learning, a vibrant Economics Society, opportunities to present Economics to other pupils, and academic reading groups. A high percentage of pupils go on to study economics at university. One-to-one support for further research, reading, and university applications is offered by our Economics Oxford Fellow.

COMPONENT

ASSESSMENT CONTENT

Paper 1 (SL/HL)

1 hour 15 minutes Pupils write a pair of extended essays from a choice of three.

Paper 2 (SL/HL)

1 hour 45 minutes

A mix of short-answer questions and one 15-mark essay based on extracts. Short, technical questions involving brief explanations and calculations. Two 10-mark essays.

Paper 3 (HL)

1 hour 45 minutes

ST EDWARD’S OXFORD

16