Digging Deep into Paper 2 of 

IB Economics

February 13, 2026

Last week, we took a closer look at Paper 1 and worked to make sense of what the IB is really asking students to do on that exam. In response, I received a very kind email from Mazen Alaboud at UWC Dilijan in Armenia asking if I would follow that up with a similar breakdown of Paper 2 in IB Economics. 

So thank you, Mazen, for the suggestion. And as always, if any of you ever have ideas for a future newsletter, please feel free to reach out. I am always happy to take suggestions. 

So here we go.

As we know, Paper 2 is a core component of the IB Economics exams and is often referred to as the data response paper. Its purpose is to evaluate students’ ability to apply economic concepts to real-world scenarios, analyze data, and provide structured responses. 

Whether students are taking Economics at the Standard Level (SL) or Higher Level (HL), understanding the structure, strategies, and expectations of Paper 2 is critical. And it is important to know that Paper 2 is exactly the same for both SL and HL students.  They literally take the same test.


What Is Paper 2?

Paper 2 is designed around data response questions, meaning students will work with an article, set of data, or another provided context to construct their answers. For Higher Level students, Paper 2 constitutes 30 percent of the composite score. For Standard Level students, it is worth 40 percent.

Students will have two questions to choose from and must answer one. The questions can cover content from all four syllabus units: Introduction to Economics, Microeconomics, Macroeconomics, and the Global Economy. Students have 105 minutes, or 1 hour and 45 minutes, to complete their chosen question.


The Structure of Paper 2

Each question consists of seven parts:

  • Part A: Definitions
  • Part B: Calculations
  • Parts C, D, E, F: Analysis
  • Part G: Evaluation

The structure requires a mix of skills: definitions to demonstrate language mastery, calculations to show mathematical proficiency, diagrams and explanations for analysis, and real world applications for evaluation.


Key Overall Strategies for Paper 2

Plan Before Writing - Before starting the exam, students will have a five minute reading period to review the articles and datasets. They should use this time wisely:

  • Skim the articles and identify key terms and concepts.
  • Determine which question they feel most confident answering.
  • Base the decision on Part G, the evaluation, as it is worth the most marks and can significantly impact the overall score.

Tackle Definitions and Calculations Efficiently

  • Part A, Definitions: Students should be concise. Define terms accurately and move on quickly. This section is about precision, not elaboration.
  • Part B, Calculations: Students should use their calculator effectively. Provide the calculations as required, ensuring answers are clear. There is no need for explanation. Show the math and move forward.

Approach Analysis Thoughtfully

  • Parts C, D, E, and F focus on analysis. These sections require students to:
  • Draw and label diagrams correctly.
  • Apply economic theory to the question, using real life examples.
  • Use command terms such as explain, analyze, distinguish, or suggest to guide the response.

Students should think of themselves as analysts. The diagram is like a highlight reel in sports, and the analysis is the expert commentary explaining the significance of the play. Depth and clarity in explanations are essential, linking theory directly to the context of the question.

If you're looking for an effective analysis structure to share with students, here is the one I've used effectively for years: Paper 2 Analysis Structure.

A Power Evaluation in Part G is Critical

  • Evaluation is where students demonstrate their ability to think critically and apply their knowledge:
  • Discuss implications, limitations, and possible outcomes of the economic concepts at play.
  • Use real world examples to strengthen the argument.
  • Incorporate one or more of the nine central themes of economics, such as scarcity, interdependence, or economic well being, to elevate the response.

Evaluation often includes command terms such as discuss, to what extent, or compare and contrast. Responses should demonstrate balance, considering multiple perspectives before arriving at a reasoned conclusion.Here is the structure I have used with students:  Paper 2 Evaluation Structure.


Effective Tips for Writing Paper 2

  • Use the Question to Structure Answers - IB questions are typically statements rather than direct questions. Students should reframe the statement as the topic sentence for each section. For example, if the prompt states, “Analyze the impact of an indirect tax on alcohol in Chile,” a response might begin with, “This section will analyze the impact of an indirect tax on alcohol in Chile.”
  • Infuse Real Life Examples and Context - Paper 2 is rooted in real world economics. Students should use examples provided in the question or from their own knowledge to make answers richer and more relevant.
  • Study Definitions and Calculations Carefully - Students should not allow simple mistakes to cost valuable marks. Mastery of economic language and confidence with calculations can meaningfully improve performance.
  • Understand the Five Key Elements - Students should consistently return to the foundation: language, calculations, diagrams, analysis, and evaluation. These five elements form the basis of every successful Paper 2 response.


Final Thoughts

Paper 2 provides an opportunity for students to demonstrate their ability to think critically and apply economic concepts to real world situations. With careful planning, clear structure, and focused preparation, students can approach this paper with confidence.

Every component of the exam builds upon those foundational skills of definitions, calculations, diagrams, analysis, and evaluation. When those are strong, Paper 2 becomes far more manageable.

If you're interested in more, you may want to check out this page where I break down each of the IB Economics Papers and the Internal Assessment:  IB Assessment Resources.  You'll also see a Fact Sheet and the Mark Scheme for each of the assessments.  

I hope this breakdown and resource links help bring clarity and confidence to your work with students and thanks again Mazen for reaching out!

See you next week.




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