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Economics IB Standard at Calday Grange Grammar School

Course description

Economics is a dynamic social science, forming part of the study of individuals and societies. The study of economics is essentially about the concept of scarcity and the problem of resource allocation.

Course content

Although economics involves the formulation of theory, it is not a purely theoretical subject: economic theories can be applied to real-world examples. Neither is economics a discrete subject, since economics incorporates elements of history, geography, psychology, sociology, political studies and many other related fields of study.

Economics does not exist in a vacuum, because it naturally must consider how economic theory is to be applied in an international context.

The scientific approach characterizes the standard methodology of economics. This methodology can be summarized as a progression from problem identification, through hypothesis formulation and testing, arriving finally at a conclusion.

Alongside the empirical observations of positive economics, students of the subject are asked to formulate normative questions. Encouraging students to explore such questions forms the central focus of the economics course.

Entry requirements

Grade B Mathematics at GCSE



External assessment 75%

Written papers 3 hours

Paper 1- 1 hour 25%

This paper consists of four extended-response questions based on all five sections of the syllabus. Each question is divided into two parts and may relate to more than one section of the syllabus.

Candidates must attempt one question.

Paper 2- 2 hours 50%

A data-response question paper based on all five sections of the syllabus.

The paper consists of five structured questions based on all five sections of

the syllabus.

Candidates must attempt three questions.

Internal assessment 25%

Candidates produce a portfolio of four commentaries.

Future opportunities

University place or career.

Further information

For further information please go to our website.

How to apply

If you want to apply for this course, you will need to contact Calday Grange Grammar School directly.

Last updated date: 20 May 2014
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