New content in the new Economics Syllabus not found in the Old One. Most likely to be examined so IB can ‘test the waters’ with their new content.
| Topic | What’s new? | Potential Exam Question types |
| 2.4 Critique of Maximising Behaviours | Entire new topic: behavioural economics and consumer and firm rationality | P1 (a), P1 (b), P2 Long response |
| 2.7 Role of government | Nudge theory as a method of intervention is new (link 2.4) | P1 (a), P2 Long response, P3 Policy recommendation |
| 2.8 Government Intervention in Externalities | Collective self-governance as a form of intervention | P1 (a), P3 Policy recommendation |
| 2.12 Equity in the free market | Entire new topic: Income and wealth inequality as a consequence/cause of market failure | P1 (a), P2 Long response |
| 3.1 Measuring economic activity | Consideration of new alternative indicators and evaluation of the effectiveness of traditional ones (GNI/GDP) | P1 (a), P1 (b), P2 Long response |
| 3.3 Macroeconomic objectives | Consideration of all countries having high level of debt and the relationship between growth and sustainability | P1 (a), P1 (b), P2 Long response |
| 3.4 Inequality and poverty | Entire new topic: link with Topic 4 | P1 (a), P1 (b), P2 Long response |
| 3.5 Monetary policy | Additional focus on tools of central bank including quantitative easing and effects on external balance | P1 (a), P2 Long response |
| 3.6 Fiscal policy | Evaluation that government spending based on political priorities in addition to economic ones. | P1 (a), P1 (b), P2 Long response, P3 Policy recommendation |
| 4.6 Balance of payments | Relationship between Current Account balance and exchange rate. Effects of persistent current account deficit (and surplus) | P1 (a), P1 (b), P2 Long response, P3 Policy recommendation |
| 4.7 Sustainable Development | Entire new topic: sustainable development goals and relationship between poverty and sustainability | P1 (a), P1 (b), P2 Long response |
| 4.8 Measuring development | Alternative indicators (composite and single), link with 3.1, 3.4 | P1 (a), P1 (b) |
| 4.9 Barriers to economic development | Poverty as a barrier, wealth tax (link with 4.10) | P1 (a), P1 (b), P2 Long response, P3 Policy recommendation |
Note: HL Topics are no longer examined in Paper 2 beginning 2024. For 2023 IB candidates, the table above is accurate.
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