Economics
Economics has an important role to play in promoting international cooperation and mutual understanding because of its focus on global issues. In order to achieve this understanding, students must be taught to consider economic theories, ideas and happenings from the points of view of different markets, stakeholders and nations in the world economy. Overall, it can be said that Economics Is the study of how to be prudent with the world’s resources and we will study issues such as sustainability, unemployment, international trade, developing economies and government policies.
The IBDP Economics course covers the following units:
Higher Level (HL) is different than Standard Level (SL) in the way that it extends the sections with topics that broadens your understanding – especially regarding policies dealing with economic challenges.
Students are externally assessed through exams. The internal assessment in Economics involves writing a portfolio of three commentaries on articles related to the last three units that we cover in our course. Each commentary must focus on a different unit of the syllabus.
The IBDP Economics course covers the following units:
- Introduction to economics - General introduction to the subject and how economists approach the world (scarcity, choice, opportunity cost, social science, methodology).
- Microeconomics - How markets work (competitive markets, elasticity, market power (HL only), market failure, government intervention in markets).
- Macroeconomics - How countries’ economy work (GDP, economic growth, economic policy, unemployment, inflation, distribution of income, poverty, government debt (HL only)).
- The global economy - Issues concerning international trade and developing countries (free trade, trade protection, trading blocs and organizations, balance of payments, currency exchange rates, sustainable development, economic development (problems and strategies)).
Higher Level (HL) is different than Standard Level (SL) in the way that it extends the sections with topics that broadens your understanding – especially regarding policies dealing with economic challenges.
Students are externally assessed through exams. The internal assessment in Economics involves writing a portfolio of three commentaries on articles related to the last three units that we cover in our course. Each commentary must focus on a different unit of the syllabus.
Updated Sep'22
