IB Economics Calculations SL And HL

IB Economics Calculations: Your Complete Guide

One of the key skills in IB Economics is the ability to perform accurate calculations across different topics. The IB syllabus specifies exactly which calculations you need to master, and they appear regularly in both Paper 2 and Paper 3 exams.

This comprehensive table maps out every calculation required by the syllabus, organised by section. You'll notice that calculations span all three modules of the course:

1. Microeconomics (Module 2) - From elasticities and market equilibrium to welfare loss and profit maximisation

2. Macroeconomics (Module 3) - Including GDP measures, inflation rates, and the Keynesian multiplier

3. Global / International Economics (Module 4) - Covering trade calculations, exchange rates, and balance of payments

How to Use This Guide

Use this table as a checklist for your exam preparation. Each calculation listed here could appear in your exams, so make sure you can confidently work through examples of each type. The syllabus often asks you to calculate values "from data provided" or "from a diagram" - this means you need to be comfortable with both numerical data interpretation and graphical analysis.

Pay particular attention to calculations that appear across multiple contexts, such as percentage changes, which underpin PED, PES, YED, inflation rates, and economic growth calculations.

Mastering these foundational skills will make more complex calculations much more manageable.

Exam Tip:

Always show your working clearly in the exam. Even if you know that your final answer is incorrect, you can still earn method marks for demonstrating the correct approach and suitable numerical skills.

IB Economics Diagrams - What's included:

• 200+ exam-ready diagrams covering the entire IB Economics syllabus and some more

• Video work showing you exactly each model with explanations

• Image-ready versions perfect for answering essays, presentations, and your IA

• Detailed written explanations of IB Economics theory next to each diagram

• Both SL and HL diagrams clearly labelled and organised by module and unit

• Real exam application showing how to use diagrams effectively in Paper 1 and Paper 2