Paper 1, Paper 2 & Paper 3 (HL) — topic frequency, essay frameworks, prediction ratings & policy skills for May 2026. Switch between HL and SL instantly.
| IB ECONOMICS — PAPER 1 ESSAY THEME FREQUENCY MATRIX | May 2022–2025 | All Units | ||||||||||
| Choose 1 of 3 questions. Part (a) explain [10 marks] + part (b) evaluate [15 marks] | SL: excludes HL extensions | HL: all topics including extensions | ||||||||||
| # | Unit | Essay Theme / Topic | M22 | M23 | M24 | M25 | Freq | Part (a) focus | Part (b) evaluate | May 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| UNIT 2: MICROECONOMICS (most tested in Paper 1) | ||||||||||
| 1 | Micro | Market failure — externalities + evaluate government policy (SL & HL) | ✔ | ✔ | ✔ | ✔ | 4 | Draw externality diagram + explain welfare loss | Evaluate: carbon tax vs cap-and-trade vs regulation | ⭐⭐⭐⭐⭐ CERTAIN |
| 2 | Micro | PED — explain concept + evaluate for indirect tax policy (SL & HL) | ✔ | ✔ | — | ✔ | 3 | Explain PED formula + diagram showing elastic/inelastic | Evaluate: should government tax inelastic goods? | ⭐⭐⭐⭐⭐ |
| 3 | Micro | Market structures — monopoly vs perfect competition + evaluate welfare HL only | ✔ | — | ✔ | ✔ | 3 | Draw monopoly diagram: profit, DWL, compare to PC | Evaluate: is monopoly always harmful to society? | ⭐⭐⭐⭐⭐ HL |
| 4 | Micro | Government intervention — subsidies or price controls + evaluate (SL & HL) | — | ✔ | ✔ | — | 2 | Draw subsidy / price ceiling diagram | Evaluate: do subsidies achieve their objectives? | ⭐⭐⭐⭐ |
| 5 | Micro | Behavioural economics — bounded rationality + evaluate nudge theory HL only | — | ✔ | — | — | 1 | Explain cognitive biases, anchoring, bounded rationality | Evaluate: nudge theory vs taxes/regulation | ⭐⭐⭐ SURPRISE HL |
| 🔒 Units 3–5 + Paper 2 & 3 + May 2026 Predictions locked locked Macroeconomics · International Economics · Development Economics · Paper 2 & 3 matrices · Full prediction ratings Unlock Free → 🔒 Units 3–5 + Paper 2 & 3 + May 2026 Predictions locked Macroeconomics · International Economics · Development Economics · Paper 2 Data Response · Paper 3 Policy (HL) · Full prediction ratings Unlock Free → >UNIT 3: MACROECONOMICS | ||||||||||
| 6 | Macro | Fiscal policy — explain expansionary policy + evaluate effectiveness (SL & HL) | ✔ | ✔ | ✔ | ✔ | 4 | Draw AD/AS shift from fiscal expansion | Evaluate: crowding out, time lags, national debt, RWE | ⭐⭐⭐⭐⭐ CERTAIN |
| 7 | Macro | Monetary policy — explain central bank tools + evaluate limitations (SL & HL) | ✔ | — | ✔ | ✔ | 3 | Explain interest rate mechanism + AD shift diagram | Evaluate: time lags, liquidity trap, inflation targeting | ⭐⭐⭐⭐ |
| 8 | Macro | Unemployment — explain types + evaluate supply-side policies (SL & HL) | — | ✔ | ✔ | — | 2 | Explain cyclical vs structural unemployment diagrams | Evaluate: education/training, labour market reform, RWE | ⭐⭐⭐⭐ |
| 9 | Macro | Income inequality — Lorenz curve/Gini + evaluate policies (SL & HL) | ✔ | — | ✔ | ✔ | 3 | Draw Lorenz curve, explain Gini coefficient | Evaluate: progressive tax, transfers, minimum wage | ⭐⭐⭐⭐ |
| 10 | Macro | Phillips curve — inflation-unemployment trade-off + evaluate HL only | ✔ | — | ✔ | — | 2 | Draw SRPC + LRPC at NAIRU, explain trade-off | Evaluate: monetarist vs Keynesian view of NAIRU | ⭐⭐⭐⭐ HL |
| UNIT 4: THE GLOBAL ECONOMY | ||||||||||
| 11 | Global | Free trade vs protectionism — comparative advantage + evaluate (SL & HL) | ✔ | ✔ | ✔ | ✔ | 4 | Explain comparative advantage with numerical example | Evaluate: infant industry, retaliation, employment vs efficiency | ⭐⭐⭐⭐⭐ CERTAIN |
| 12 | Global | Exchange rates — explain depreciation + evaluate effect on trade (SL & HL) | ✔ | — | ✔ | ✔ | 3 | Draw Forex diagram + explain depreciation mechanism | Evaluate: M-L condition, J-curve, inflation risk (HL) | ⭐⭐⭐⭐ |
| 13 | Global | Development — barriers + evaluate effectiveness of aid (SL & HL) | — | ✔ | ✔ | — | 2 | Explain poverty trap / institutional barriers diagram | Evaluate: tied vs untied aid, dependency, RWE | ⭐⭐⭐ |
| 14 | Global | Sustainable development — trade-off with growth + evaluate policy (SL & HL) | — | ✔ | — | ✔ | 2 | Explain SDGs and conflict with growth objectives | Evaluate: carbon pricing, international agreements, RWE | ⭐⭐⭐⭐ |
| IB ECONOMICS — PAPER 2 TOPIC FREQUENCY MATRIX | May 2022–2025 | TZ1 & TZ2 ★India | ||||||||||
| Same structure SL & HL — HL rows show HL-extension content. ★India = TZ2. Green cells = appeared in TZ2. SL: HL-only rows greyed. | ||||||||||
| # | Unit | Topic / Sub-topic | M22 TZ1 | M22 ★TZ2 | M23 TZ1 | M23 ★TZ2 | M24 TZ1 | M24 ★TZ2 | HL? | May 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| UNIT 2: MICROECONOMICS — appears in BOTH SL and HL Paper 2 | ||||||||||
| 2.1 | Demand & Supply | Market equilibrium, shifts, price mechanism — diagram | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐⭐ |
| 2.5 | Elasticity | PED — calculate, interpret, link to tax incidence | ✔ | ✔ | ✔ | — | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐⭐ |
| 2.7 | Govt — Indirect Tax | Tax diagram, consumer/producer burden, DWL — draw & calculate | ✔ | ✔ | ✔ | ✔ | — | ✔ | SL&HL | ⭐⭐⭐⭐⭐ |
| 2.8 | Externalities | Negative/positive externalities — diagram + evaluate policy | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐⭐ CERTAIN |
| 2.11 | Market Structures (HL) | Monopoly diagram — profit, DWL, allocative inefficiency HL only | ✔ | — | ✔ | ✔ | — | ✔ | HL | ⭐⭐⭐⭐⭐ HL |
| 2.11b | Costs & Revenues (HL) | MC, ATC, AVC — draw, calculate, profit maximisation at MC=MR HL only | ✔ | ✔ | — | ✔ | ✔ | — | HL | ⭐⭐⭐⭐⭐ HL |
| UNIT 3: MACROECONOMICS — appears in BOTH SL and HL Paper 2 | ||||||||||
| 3.2 | AD/AS Model | AD/AS equilibrium, policy shifts — draw & explain | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐⭐ CERTAIN |
| 3.3 | Inflation | CPI calculation, demand-pull vs cost-push — calculate & diagram | ✔ | — | ✔ | ✔ | — | ✔ | SL&HL | ⭐⭐⭐⭐⭐ |
| 3.4 | Inequality & Poverty | Lorenz curve — draw, calculate Gini, interpret change | ✔ | ✔ | — | ✔ | ✔ | — | SL&HL | ⭐⭐⭐⭐⭐ |
| 3.5 | Fiscal Policy | Expansionary/contractionary policy — AD/AS diagram + evaluate | ✔ | ✔ | ✔ | — | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐⭐ |
| 3.5b | Fiscal Policy (HL) | Keynesian multiplier — calculate, crowding out diagram HL only | ✔ | ✔ | — | ✔ | ✔ | — | HL | ⭐⭐⭐⭐ HL |
| 3.3b | Phillips Curve (HL) | SRPC + LRPC at NAIRU — draw, explain trade-off HL only | ✔ | — | ✔ | — | ✔ | ✔ | HL | ⭐⭐⭐⭐ HL |
| UNIT 4: GLOBAL ECONOMY — appears in BOTH SL and HL Paper 2 | ||||||||||
| 4.2 | Protectionism | Tariff diagram — consumer surplus loss, DWL, govt revenue — draw & evaluate | ✔ | ✔ | — | ✔ | ✔ | — | SL&HL | ⭐⭐⭐⭐⭐ |
| 4.5 | Exchange Rates | Floating exchange rate diagram — appreciation/depreciation + effects on economy | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐⭐ CERTAIN |
| 4.6 | Balance of Payments | Current account — define components, calculate balance, identify causes | ✔ | — | ✔ | ✔ | — | ✔ | SL&HL | ⭐⭐⭐⭐ |
| 4.1b | Comparative Advantage (HL) | Calculate opportunity cost, identify CA, gains from trade — PPC diagram HL only | ✔ | ✔ | — | ✔ | ✔ | — | HL | ⭐⭐⭐⭐⭐ HL |
| 4.6b | Marshall-Lerner & J-curve (HL) | Conditions for depreciation to improve CA + draw J-curve HL only | ✔ | — | ✔ | ✔ | — | ✔ | HL | ⭐⭐⭐⭐ HL |
| 4.7 | Sustainable Dev. | SDGs — define, trade-off with growth, evaluate policy | — | ✔ | ✔ | — | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐ |
| 4.10 | Development Strategies | Aid, FDI, microfinance, trade — evaluate effectiveness | — | ✔ | ✔ | — | ✔ | ✔ | SL&HL | ⭐⭐⭐⭐ |
| IB ECONOMICS HL — PAPER 3 POLICY SCENARIO FREQUENCY | May 2022–2025 | |||||||
| Part (a) = quantitative + definitions + diagrams [20 marks each Q] | Part (b) = policy recommendation [10 marks each Q] | Both questions compulsory | Calculator allowed | |||||||
| # | Area | Policy Scenario / Context | M22 | M23 | M24 | M25 | May 2026 |
|---|---|---|---|---|---|---|---|
| MACROECONOMIC POLICY SCENARIOS | |||||||
| M1 | Macro | Country facing rising inflation — recommend monetary or fiscal policy to reduce inflation | ✔ | ✔ | ✔ | ✔ | ⭐⭐⭐⭐⭐ CERTAIN |
| M2 | Macro | High unemployment — recommend policy mix (demand-side + supply-side) with multiplier calculation | ✔ | — | ✔ | ✔ | ⭐⭐⭐⭐⭐ |
| M3 | Macro | Recession — evaluate expansionary fiscal policy, calculate multiplier effect on GDP | ✔ | ✔ | — | ✔ | ⭐⭐⭐⭐ |
| M4 | Macro | High income inequality — calculate Gini from Lorenz table + recommend redistribution policy | — | ✔ | ✔ | — | ⭐⭐⭐⭐ |
| INTERNATIONAL / GLOBAL ECONOMY POLICY SCENARIOS | |||||||
| G1 | Global | Current account deficit — calculate balance, identify causes, recommend exchange rate or expenditure policy | ✔ | ✔ | ✔ | ✔ | ⭐⭐⭐⭐⭐ CERTAIN |
| G2 | Global | Exchange rate depreciation — calculate trade price effects, apply Marshall-Lerner, J-curve diagram | ✔ | ✔ | — | ✔ | ⭐⭐⭐⭐ HL |
| G3 | Global | Developing country — recommend sustainable development strategy, evaluate aid vs trade vs FDI | — | ✔ | ✔ | — | ⭐⭐⭐ |
| MICROECONOMIC POLICY SCENARIOS | |||||||
| Mi1 | Micro | Negative externality — calculate welfare loss, recommend optimal Pigouvian tax rate from diagram | ✔ | ✔ | ✔ | ✔ | ⭐⭐⭐⭐⭐ CERTAIN |
| Mi2 | Micro | Monopoly — calculate profit and deadweight loss, recommend regulation policy | ✔ | — | ✔ | ✔ | ⭐⭐⭐⭐ HL |
This IB Economics HL & SL complete exam guide covers all examination papers based on the IB Economics Subject Guide (First Assessment 2022). It covers Paper 1 (essay), Paper 2 (data response) and Paper 3 (HL policy paper), with a level toggle so students at both HL and SL can use the same resource.
All topic frequency analysis is based on the official syllabus. This resource does not reproduce or reference past paper content.
Sev7n has 17 years of IB Economics teaching experience at both HL and SL.