IB Economics

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SECTION:1

MICROECONOMICS

1.1:  COMPETITIVE MARKETS (DEMAND & SUPPLY)

 

 

  • Markets

  • Demand

  • Supply

  • Market Equilibrium

  • The Role Of The Price Mechanism

  • Market Efficiency

 

 

 

1.2:  ELASTICITY

 

  • Price Elasticity of Demand (PED)

  • Cross Price Elasticity Of Demand

  • ​

  • Income Elasticity Of Demand (YED)

  • Price Elasticity Of Supply (PES)

 

 

1.3:  GOVERNMENT INTERVENTION

 

  • Indirect Taxes

  • Subsidies

  • Price Controls

 

 

 

1.4:  MARKET FAILURE

 

  • The Meaning Of Market Failure

  • Types of Market Failure

 

 

 

1.5:  THEORY OF THE FIRM AND MARKET STRUCTURES

 

  • Production And Costs

  • Revenues

  • Profit

  • Goals Of Firms

  • Perfect Competition

  • Monopoly

  • Monopolistic Competition

  • Oligopoly

  • Price Discrimination

 

 SECTION :2

MACROECONOMICS

2.1:  THE LEVEL OF OVERALL ECONOMIC ACTIVITY

 

  • Economic Activity

  • The Business Cycle

 

 

 

2.2:  AGGREGATE DEMAND AND AGGREGATE SUPPLY

  • Aggregate Demand (AD)

  • Aggregate Supply (AS)

  • Equilibrium

  • The Keynesian Multiplier

 

 

2.3:  MACROECONOMIC OBJECTIVES

  • Low Unemployment

  • Low And Stable Rate Of Inflation

  • Economic Growth

  • Equity In The Distribution Of Income

 

 

 

2.4:  FISCAL POLICY

  • The Government Budget

  • The Role Of Fiscal Policy

 

 

 

2.5:  MONETARY POLICY

  • Interest Rates

  • The Role Of Monetary Policy

 

 

2.6:  SUPPLY- SIDE POLICIES

  • The Role Of Supply-Side Policies

  • Interventionist Supply-Side Policies

  • Market Based Supply-Side Policies

  • Evaluation Of Supply-Side Policies

 

 

 SECTION: 3

INTERNATIONAL ECONOMICS

3.1:  INTERNATIONAL TRADE

  • Free Trade

  • Restrictions On Free Trade: Trade Protection

 

 

 

3.2:  EXCHANGE RATES

 

  • Freely Floating Exchange Rates

  • Government Intervention

 

 

 

3.3:  THE BALANCE OF PAYMENTS

  • The Structure Of The Balance Of Payments

  • Current Account Deficits

  • Current Account Surpluses

 

 

3.4:  ECONOMIC INTEGRATION

  • Forms Of Economic Integration

  • Preferential Trade Agreements

  • Trading Blocks

  • Monetary Union

 

 

3.5:  TERMS OF TRADE

  • The Meaning Of The Terms Of Trade

  • Measurement

  • Causes of Changes in The Terms Of Trade

  • Consequences Of Changes In The Terms Of Trade

 

 

SECTION: 4

DEVELOPMENT ECONOMICS

4.1:  ECONOMIC DEVELOPMENT

  • The Nature Of Economic Growth And Economic Development

  • Common Characteristics Of Economically less Developed Countries

  • Diversity Among Economically Less Developed Countries

  • International Development Goals

 

 

4.2:  MEASURING DEVELOPMENT

  • Measurement Methods

  • Single Indicators

  • Composite Indicators

 

 

 

4.3:  THE ROLE OF DOMESTIC FACTORS

  • Domestic Factors And Economic Development

 

 

 

4.4:  THE ROLE OF INTERNATIONAL TRADE

  • International Trade And Economic Development

 

 

 

4.5:  THE ROLE OF FOREIGN DIRECT INVESTMENT (FDI)

  • Foreign Direct Investment And Multinational Corporations (MNCs)

  • Advantages And Disadvantages Of FDI For Economically Less Developed Countries

 

 

 

4.6:  THE ROLE OF FOREIGN AID AND MULTILATERAL DEVELOPMENT ASSISTANCE

  • Foreign Aid

  • Classification And Types Of Aid

  • Evaluation Of Foreign Aid

  • Multilateral Development Assistance

 

 

4.7:  THE ROLE OF INTERNATIONAL DEBT

  • Foreign Debt

  • Consequences

 

 

 

4.8:  THE BALANCE BETWEEN MARKETS AND INTERVENTION

  • Strengths And Weaknesses Of  Market-Oriented Policies

  • Strengths And Weaknesses Of Interventionist Policies