IB Economics

IB Economics Review Guide

Syllabus section
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/Introduction to Economics/

 * 1.1 Basic Definitions
 * 1.2 PPF and PPC
 * 1.3 Free Market vs Planned Economy

/Microeconomics/

 * 2.1 Markets
 * 2.2 Elasticities
 * 2.3 Theory of the Firm (HL)
 * 2.4 Market Failure

/Macroeconomics/

 * 3.1 Measuring National Income
 * 3.2 Introduction to Development
 * 3.3 Macroeconomic Models
 * 3.4 Demand-side and Supply-side policies
 * 3.5 Unemployment and Inflation
 * 3.6 Distribution of Income

/International Economics/

 * 4.1 Reasons for trade
 * 4.2 Free trade and protectionism
 * 4.3 Economic integration
 * 4.4 World Trade Organization (WTO)
 * 4.5 Balance of payments
 * 4.6 Exchange rates
 * 4.7 Balance of Payment problems
 * 4.8 Terms of trade

/Development Economics/

 * 5.1 Sources of Economic Growth and/or Development
 * 5.2 Consequences of Growth
 * 5.3 Barriers to Economic Growth
 * 5.4 Growth and Development Strategies
 * 5.5 Evaluation of Growth and Development Strategies