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IB

Economics

Economics

NotesNotes QuizQuiz FlashcardsFlashcards

1.1 - Economics as a Social Science

1.2 - The Problem of Choice

1.3 - The Production Possibilities Curve

1.4 - Modelling the Economy

1.5 - Economic Methodology

1.6 - Economic Thought

2.3 - Assumptions of Demand & Supply

2.4 - Demand, Supply & Market Equilibrium

2.5 - Functions of the Price Mechanism

2.7 - Calculating Cosumer & Producer Surplus

2.8 - Allocative Efficiency

2.9 - Behaviour of Consumers & Producers

2.10 - Price Elasticity of Demand (PED)

2.11 - Changing PED Along a Demand Curve

2.12 - Determinants of PED

2.13 - Importance of PED

2.14 - Primary Commodities & PED

2.15 - Income Elasticity of Demand (YED)

2.16 - Importance of YED

2.17 - Price Elasticity of Supply (PES)

2.18 - Indirect Taxes & Subsidies

2.19 - Maximum & Minimum Prices

2.20 - Externalities

2.21 - Government Response to Externalities

2.22 - Common Pool Resources

2.23 - Public Goods

2.24 - Asymmetric Information

2.25 - Profit Maximisation

2.26 - Market Structures

2.27 - Perfect Competition

2.28 - Monopoly

2.29 - Entry Barriers

2.30 - Oligopoly

2.31 - Monopolistic Competition

3.1 - Measuring Economic Activity

3.2 - Aggregate Demand

3.3 - Aggregate Supply

3.4 - Equilibrium

3.5 - Economic Growth

3.6 - Consequences of Economic Growth

3.7 - Unemployment

3.8 - Costs of Unemployment

3.9 - Inflation

3.10 - Deflation

3.11 - Government Debt

3.12 - Phillips Curve

3.13 - Economic Inequality

3.15 - Causes of Economic Inequality & Poverty

3.16 - Impacts of Income & Wealth Inequality

3.17 - Taxation, Poverty & Inequalities

3.18 - Goals of Monetary Policy

3.19 - Money & Commercial Banks

3.20 - Tools of Monetary Policy

3.21 - Monetary Policy & Interest Rates

3.22 - Effectiveness of Monetary Policy

3.23 - Fiscal Policy

3.24 - Keynesian Multiplier

3.25 - Effectiveness of Fiscal Policy

3.26 - Supply-side Policies

3.27 - Market-based Policies

3.28 - Interventionist Policies

3.29 - Effectiveness of Supply-side Policies

3.30 - Macroeconomic Objectives - Growth

3.31 - Macroeconomic Objectives - Price Stability

3.32 - Macroeconomic Objectives - Low Unemployment

3.33 - Macroeconomic Objectives - Conflict

4.1 - Benefits of Trade

4.2 - Absolute & Comparative Advantage

4.5 - Subsidies

4.6 - Administrative Barriers

4.7 - Trade Protection Arguments

4.8 - Trade Agreements & Trade Blocs

4.9 - Monetary Union

4.10 - The World Trade Organization

4.11 - Exchange Rates

4.12 - Changes in Demand & Supply for Currency

4.13 - Consequences of Changes in Exchange Rate

4.14 - Fixed Exchange Rates

4.15 - Managed Exchange Rates

4.16 - Fixed & Floating Exchange Rates

4.17 - Balance of Payments

4.18 - Interdependence Between Accounts

4.19 - Current Account & Exchange Rate

4.20 - Financial Account & Exchange Rate

4.21 - Implications of Current Account Deficit

4.22 - Correcting a Current Account Deficit

4.23 - Marhsall-Lerner Condition & J-curve Effect

4.24 - Implications of Current Account Surplus

4.25 - Sustainable Development

4.26 - Measuring Development

4.27 - Poverty Cycle

4.28 - Economic Barriers to Growth

4.29 - Political & Social Barriers to Growth

4.30 - Trade Strategies to Promote Growth

4.31 - Policies to Promote Growth

4.32 - Merit Goods to Promote Growth

4.33 - Inward FDI to Promote Growth

4.34 - Foreign Aid to Promote Growth

4.35 - Institutional Change to Promote Growth