IB Economics SL Notes – Microeconomics (Topic 2)

Hi guys! I've been trying to upload the full version of these notes for almost 2 months now but the upload is still stuck in moderation and customer service has been ghosting me. 🥲

So for now, I’ve decided to upload the complete version to my Etsy shop instead. If you’re interested, you can check it out here: https://mystudysketchstudio.etsy.com/au/listing/4427507080/ib-economics-sl-handwritten-notes

I’m also planning to release my notes for English A Language & Literature, Psychology, Maths AA HL, and Chinese B soon, so stay tuned if that’s something you’d find helpful!

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A complete, summarised, handwritten guide to Topic 2: Microeconomics for IB Economics SL. Perfect for visual learners, exam revision, or anyone wanting a clean and concise breakdown of demand, supply, elasticities, and government intervention.

What’s Included (Topic 2 – Microeconomics):

Demand, Supply & Equilibrium

• Law of demand & law of supply
• Demand and supply curves (clear diagrams included)
• Movements vs. shifts
• Determinants of demand & supply
• Types of goods (normal, inferior, substitute, complementary)

Elasticities

• Price Elasticity of Demand (PED):
• elastic vs. inelastic
• determinants
• types of PED
• Price Elasticity of Supply (PES):
• elastic vs. inelastic
• determinants
• types of PES
• Income Elasticity of Demand (YED):
• understanding normal vs. inferior goods
• Engel curve
• Cross Price Elasticity of Demand (XED)

Government Intervention

• Indirect taxes & their impact on markets (diagrams included)
• Subsidies
• Price floor & price ceiling
• Direct provision of services
• Regulation & legislation
• Role of government in microeconomics

Market Failure

• Positive and negative externalities (production & consumption)
• Diagram-based explanations
• Welfare loss, over/under-allocation of resources, corrective policies

Why you’ll love it

• Aesthetic, handwritten notes
• Clean diagrams + concise explanations
• Great for fast revision
• Covers all SL micro content in one place
• Perfect for midterms, mocks, and final exams