Hvassing.com

This is a series of pages containing all the notes you will need to pass your IB Economics standard level course.

Please note that this is a work in progress

Syllabus Topics

• Resources and markets
  • Foundation of Economics
  • Resource allocation in the market
  • Market failure and government response
  • Alternatives to the market system
• Business Economics
  • Elasticity of Supply and Demand
  • Aims and objectives of firms
  • Economic efficiency
• Macroeconomic arguments
  • Concepts, uses and limitations of the National Income Accounts
  • Macroeconomic policy objectives
  • Macroeconomic models
  • Unemployment and inflation
• International issues
  • Gains from trade
  • Protectionism
  • Balance of payments, main definitions
  • Exchange Rates
  • Balance of Payments and exchange rates
• Development economics
  • Distinction between economic growth and development
  • Characteristics of economic growth
  • Indicators of economic development
  • Sources of economic development
  • Development strategies
  • Barriers to economic development
  • Negative aspects of development
  • Sustainable development