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IB Economics

1 Introduction to economics

1.1 What is economics?

1.2 How do economists approach the world?

2 Microeconomics

2.3 Competitive market equilibrium

2.5 Elasticities of demand

2.7 Role of government in microeconomics

2.11 Market failure—market power

2.12 The market’s inability to achieve equity

3 Macroeconomics

3.1 GDP, GNI & Well‑Being Metrics

3.2 Aggregate Demand & Supply

3.3 Macroeconomic objectives

3.3.1 High economic growth and low inflation

3.3.2 Growth & Eco Sustainability

3.3.3 Growth & Income Equity

3.4 Relationship between equality and equity

3.4.1 The meaning of economic inequality

3.4.2 Measuring economic inequality

3.4.3 Meaning of poverty

3.4.4 Measuring poverty

3.4.5 Difficulties in measuring poverty

3.4.6 Causes of economic inequality and poverty

3.4.7 Inequality's Economic Impact

3.4.8 Taxation & Inequality

3.4.9 Policies to Reduce Inequality

3.4.10 Policies to Reduce Inequality

3.5 Monetary Demand Management

3.5.1 Monetary policy

3.5.2 Goals of monetary policy

3.5.3 Bank Money Creation (HL)

3.5.4 Tools of monetary policy (HL only)

3.5.5 Money Market & Interest Rate

3.5.7 Monetary Policy Gap Closure

3.6 Demand management—fiscal policy

3.6.2 Goals of fiscal policy

3.7 Supply‑side policies

3.7.1 Goals of supply‑side policies

3.7.2 Supply-side policies

3.7.3 Interventionist policies

3.7.4 Demand‑side effects of supply‑side policies

4 Trade, Rates & Sustainable Development

4.1 Benefits of international trade

4.1.1 Absolute and comparative advantage (HL only)

4.2 Types of trade protection

4.2.3 Subsidy/export subsidy

4.2.4 Administrative barriers

4.3 Trade Control: Pros & Cons

4.4 Economic integration

4.4.1 Preferential trade agreements

4.4.2 Trading blocs

4.4.3 Pros & Cons of Monetary Union

4.4.4 Monetary union

4.5 Exchange rates

4.5.1 Floating exchange rates

4.5.2 Currency Demand/Supply Factors

4.5.3 FX Rate Effects on Economy

4.6 Balance of payments

4.6.1 Balance of payments

4.6.2 Interdependence between the accounts

4.6.3 Current Account vs FX Rate

4.6.4 Fin Account & Exchange Rate

4.7 Sustainable development

4.7.1 The meaning of sustainable development

4.7.2 Sustainable Development Goals

4.8 Measuring development

4.8.1 Economic Development Facets

4.8.2 Single indicators

4.9 Growth & Development Barriers

4.9.1 Poverty traps/poverty cycles

4.9.2 Economic barriers

4.9.3 Economic barriers

4.10 Economic Growth Strategies

4.10.1 Import Substitution & Export

4.10.2 Health programs

4.10.3 Essential Infrastructure

4.10.4 Inward foreign direct investment

4.10.5 Foreign aid

International Baccalaureate IB Economics

IB Economics

1 Introduction to economics

1.1 What is economics?

1.2 How do economists approach the world?

2 Microeconomics

2.3 Competitive market equilibrium

2.5 Elasticities of demand

2.7 Role of government in microeconomics

2.11 Market failure—market power

2.12 The market’s inability to achieve equity

3 Macroeconomics

3.1 GDP, GNI & Well‑Being Metrics

3.2 Aggregate Demand & Supply

3.3 Macroeconomic objectives

3.3.1 High economic growth and low inflation

3.3.2 Growth & Eco Sustainability

3.3.3 Growth & Income Equity

3.4 Relationship between equality and equity

3.4.1 The meaning of economic inequality

3.4.2 Measuring economic inequality

3.4.3 Meaning of poverty

3.4.4 Measuring poverty

3.4.5 Difficulties in measuring poverty

3.4.6 Causes of economic inequality and poverty

3.4.7 Inequality's Economic Impact

3.4.8 Taxation & Inequality

3.4.9 Policies to Reduce Inequality

3.4.10 Policies to Reduce Inequality

3.5 Monetary Demand Management

3.5.1 Monetary policy

3.5.2 Goals of monetary policy

3.5.3 Bank Money Creation (HL)

3.5.4 Tools of monetary policy (HL only)

3.5.5 Money Market & Interest Rate

3.5.7 Monetary Policy Gap Closure

3.6 Demand management—fiscal policy

3.6.2 Goals of fiscal policy

3.7 Supply‑side policies

3.7.1 Goals of supply‑side policies

3.7.2 Supply-side policies

3.7.3 Interventionist policies

3.7.4 Demand‑side effects of supply‑side policies

4 Trade, Rates & Sustainable Development

4.1 Benefits of international trade

4.1.1 Absolute and comparative advantage (HL only)

4.2 Types of trade protection

4.2.3 Subsidy/export subsidy

4.2.4 Administrative barriers

4.3 Trade Control: Pros & Cons

4.4 Economic integration

4.4.1 Preferential trade agreements

4.4.2 Trading blocs

4.4.3 Pros & Cons of Monetary Union

4.4.4 Monetary union

4.5 Exchange rates

4.5.1 Floating exchange rates

4.5.2 Currency Demand/Supply Factors

4.5.3 FX Rate Effects on Economy

4.6 Balance of payments

4.6.1 Balance of payments

4.6.2 Interdependence between the accounts

4.6.3 Current Account vs FX Rate

4.6.4 Fin Account & Exchange Rate

4.7 Sustainable development

4.7.1 The meaning of sustainable development

4.7.2 Sustainable Development Goals

4.8 Measuring development

4.8.1 Economic Development Facets

4.8.2 Single indicators

4.9 Growth & Development Barriers

4.9.1 Poverty traps/poverty cycles

4.9.2 Economic barriers

4.9.3 Economic barriers

4.10 Economic Growth Strategies

4.10.1 Import Substitution & Export

4.10.2 Health programs

4.10.3 Essential Infrastructure

4.10.4 Inward foreign direct investment

4.10.5 Foreign aid

4.1.1 Absolute and comparative advantage (HL only)

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