I took SL economics as well and just finished my final exams for both paper 1 and 2. Like you, I struggled pretty badly in my first year. Even after studying, the concepts remained foreign to me, resulting in an awful first year mock exam as well as a meeting between my parents and the teacher, but it's okay! I overcame all the frustration by simply analyzing past papers as well as looking at the mark schemes. When you are able to look at a question as well as identify what the IB wants from the question (based on the markscheme) it should come to you automatically.
I also did terrible on my mock exams because of my lack of structure in the essays, especially in paper 1! Again, I overcome this by watching, he's a great internet tutor!
All the best for your upcoming exam, remain confident. Hi, I took Economics SL this year and I have just finished paper 1 and paper 2 last week. I have the Pearson Baccalaureate Economics book written by Sean Maley and Jason Welker.
However, I thought that the book contains too much bullshit. That's why I struggled in my year 11. I found a PDF that literally summarises the whole book I used.
The language is also simpler than the Pearson book. Here's a link to the PDF: I also have a revision guide for microeconomics, macroeconomics and international economics and they really did help me during my 'cramming' times. Just tell me if you want them.