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IB Economics flashcards

3 decks · 214 cards · built into Willys · free samples below

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Written against: IB Diploma Programme IB Economics current subject guide; SL and HL in one deck, HL-only cards under subtopic tags starting HL. Updated 2026-10-10.

What's in it

Every deck follows the course outline, with tags you can study or suspend topic by topic. Open a deck to study its free sample right here.

Learn · 2 decks · 154 cards

Concepts, mechanisms and the questions a course or exam asks about them.

Microeconomics and Macroeconomics The nine key concepts, demand and supply, HL behavioural economics, elasticities, intervention and market failure, HL market calculations, HL asymmetric information and market power, AD–AS in both schools, macro objectives, inequality and policy. 10 free · 79 cards in the app The Global Economy Gains from trade, protection and its arguments, economic integration, exchange rate systems, the balance of payments, sustainable development, HDI and other development measures, barriers to development and strategies. 10 free · 75 cards in the app

Practice · 1 deck · 60 questions

Multiple-choice practice questions, one best answer each, with the reasoning.

Practice Questions Multiple-choice practice on the syllabus, one best answer each, on markets, elasticities, market failure, HL theory of the firm, AD–AS, macro policy, trade, exchange rates and development. 6 free · 60 questions in the app

Study guide

Topics covered

The decks follow the order of the course outline. Numbers are cards per topic.

  • Introduction to Economics 6
  • Microeconomics 66
    • Demand and Supply 5
    • HL Behavioural Economics 9
    • Elasticities 6
    • Government Intervention 8
    • Market Failure 9
    • HL Calculations and Elasticity Applications 13
    • HL Asymmetric Information 5
    • HL Market Power and Theory of the Firm 11
  • Macroeconomics 47
    • Measuring Economic Activity 7
    • Aggregate Demand and Aggregate Supply 8
    • Macroeconomic Objectives 7
    • Inequality and Poverty 5
    • Macroeconomic Policies 9
    • HL Macro Extensions 11
  • The Global Economy 95
    • Benefits of Trade 4
    • Trade Protection 10
    • Economic Integration 5
    • Exchange Rates 8
    • Balance of Payments 3
    • Sustainable Development 5
    • Measuring Development 9
    • Barriers to Development 10
    • Development Strategies 16
    • HL Trade and Exchange Rate Extensions 24
    • HL Sustainability and Poverty 1

A study plan

  • 8 new cards a day covers everything in a month, leaving the last weeks for review.
  • 5 new cards a day covers everything in two months, leaving the last weeks for review.

Willys schedules reviews for you (FSRS spaced repetition), so the daily number above is only for new cards; reviews of what you have learned come back on their own. Study a topic's cards right after you meet it in class, suspend topics you have not reached yet, and use the app's quiz mode in the final two weeks.

How to get these decks

  1. Install Willys on your iPhone, iPad or Mac — App Store. 14-day free trial, then $14.99 a year.
  2. In Willys, tap Exam Library at the top of your Decks (or Browse Exam Library… under the + button), find the exam on its shelf or by search, tick it and tap Add.
  3. Study. The exam comes in as its own collapsible folder, every card scheduled by FSRS spaced repetition. Nothing you already have is changed.

Every deck is built into Willys

All 3 IB Economics decks (214 cards), with FSRS spaced repetition, quizzes and mock tests, on iPhone, iPad and Mac. 14-day free trial, then $14.99 a year.

Get the app

In Willys, tap Exam Library at the top of your Decks (or Browse Exam Library… under the + button), find the exam on its shelf or by search, tick it and tap Add.

About these cards

Review status: Second-reader reviewed, with corrections applied.

Checked against:

  • OpenStax Principles of Economics 3e, consulted as a reference; no text copied.
  • IB Diploma Programme subject guide (topic outline only; no text copied): Economics guide for first assessment 2024 (published February 2020, updated October 2022).
  • Checked against UNDP Human Development Report technical notes (reference only; no text copied).
  • IB Diploma Programme Economics subject guide for first assessment 2024 (published February 2020, updated October 2022) (topic outline only; no text copied).
  • Remittance and WTO questions also checked against the IMF's Balance of Payments and International Investment Position Manual, sixth edition (BPM6), the World Bank's and Eurostat's definitions of remittances, and the WTO's Understanding the WTO; reference only, no text copied.

These are independent study notes written for Willys. They are not official exam material, may contain mistakes, and are no substitute for your course, your teacher or the exam owner's own publications. Found an error? Tell us — corrections ship as a new version of the deck.

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