HL/SL Economics
Think with clarity. Write with purpose.
Our IB Economics programme brings theory to life through real-world issues – from domestic markets to global trade. We build the core IB skills of analysis, evaluation, and evidence-based discussion, helping students become globally aware thinkers who express complex ideas with clarity and purpose. Whether it’s for Paper 1, Paper 2, or Paper 3 (HL), we guide students to think deeper, write better, and exemplify the IB learner profile.
Class Structure
At Axiom Education, our classes are structured to ensure every student gains a deep understanding of the material while building the skills to tackle exam questions with confidence.
Breaking Down Theory
We start each lesson by covering the key theories for the topic, breaking them into smaller, easily digestible sections. This approach helps students grasp even the most complex concepts effectively.
Applying the Theory
Next, we demonstrate how to apply these theories to real-world problems, guiding students step-by-step through practical examples.
Exam-Style Practice
In the final half-hour, students attempt progressively challenging exam-style questions. This reinforces their understanding, builds confidence, and prepares them to excel in any test situation.
Our structured yet engaging approach ensures that students leave every class not only equipped with knowledge but also the skills to use it effectively when it matters most.
Topics Covered
Year 5: Higher Level (HL)
Term 1
- Demand
- Supply
- Price Mechanism
- Elasticities: Price Elasticity of Demand (PED)
- Elasticities: Income Elasticity of Demand (YED)
- Elasticities: Price Elasticity of Supply (PES)
- Government Intervention: Taxation
- Government Intervention: Subsidies
- Government Intervention: Price Ceiling
- Government Intervention: Price Floor
Term 2
- Market Failure
- Behavioural Economics
- Theory of Firm: Perfect Competition
- Theory of Firm: Monopoly
- Theory of Firm: Oligopoly
- Theory of Firm: Monopolistic Competition
- [Revision] Price Mechanism
- [Revision] Elasticities
- [Revision] Government Intervention in Microeconomics
- Exam Practices: Paper 1, Paper 2 and Paper 3
Year 5: Standard Level (SL)
Term 1
- Demand
- Supply
- Price Mechanism
- Elasticities: Price Elasticity of Demand (PED)
- Elasticities: Income Elasticity of Demand (YED)
- Elasticities: Price Elasticity of Supply (PES)
- Government Intervention: Taxation
- Government Intervention: Subsidies
- Government Intervention: Price Ceiling
- Government Intervention: Price Floor
Term 2
- Market Failure
- [Revision] Price Mechanism
- [Revision] Elasticities
- [Revision] Government Intervention in Microeconomics
- Exam Practices: Paper 1 and Paper 2
Year 6: Higher Level (HL)
Term 1
- Absolute Advantage and Comparative Advantage
- Trade Protectionism
- Exchange Rates
- Balance of Payments
- Economic Integration
- Economic Development
- [Revision] Demand-side and Supply-side Policies
- [Revision] Inflation
- [Revision] Unemployment
Term 2
- [Revision] Price Mechanism
- [Revision] Elasticities
- [Revision] Government Intervention in Microeconomics
- [Revision] Market Failure
- [Revision] Behavioural Economics
- [Revision] Theory of Firm
- [Revision] Economic Growth
- [Revision] Income Inequality
- [Revision] Macroeconomic Objectives
- [Revision] Sustainable Debt
- Exam Practices: Paper 1, Paper 2 and Paper 3
Term 3
- The Allocation of Resources
- [Revision] Market Failure
Year 6: Standard Level (SL)
Term 1
- Trade Protectionism
- Exchange Rates
- Balance of Payments
- Economic Integration
- Economic Development
- [Revision] Demand-side and Supply-side Policies
- [Revision] Inflation
- [Revision] Unemployment
Term 2
- [Revision] Price Mechanism
- [Revision] Elasticities
- [Revision] Government Intervention in Microeconomics
- [Revision] Market Failure
- [Revision] Economic Growth
- [Revision] Income Inequality
- [Revision] Macroeconomic Objectives
- Exam Practices: Paper 1, Paper 2 and Paper 3
Term 3
- The Allocation of Resources
- [Revision] Market Failure
- [Revision] Inflation
Student Benefits
Weekly Lessons
Specially Compiled Comprehensive Notes
Summary Sheet
24/7 Academic Support
Free Consultation
Free Snacks
Your Tutors
Toran Seth
10 Years of Teaching Experience
Master of Public Affairs, Brown University
Bachelor in Economics, Brown University
Bachelor in Anthropology, Brown University
Kong Man Sheng
15 Years of Teaching Experience
Bachelor in Economics, University of Nottingham
Jadyn Quek
2 Years of Teaching Experience
[Undergraduate] BSc, Economics, Singapore Management University
Megan Tan
2 Years of Teaching Experience
[Undergraduate] Bachelors in Human Resources Management, Singapore University of Social Sciences
Class Pricing
Lower Secondary
4 x 1.5-hour lessons per month
$360per monthUpper Secondary (Express/IP) / IB
4 x 1.5-hour lessons per month
$420per month