IB Ecomomics HL – Revision Notes & Question Bank

<--- Economics HL

Revision Notes

1. Introduction to Economics : Notes

1.1 What is Economics

1.2 How do Economics Approach

2. Microeconomics : Notes

2.1 Demand

2.3 Competitive Market Equilibrium

2.5 Elasticities of Demand

2.7 The Role of Government in Microeconomics

2.9 Market Failure: Public Goods

2.11 Market Failure: Market Power

2.2 Supply

2.4 Critique of the Maximizing Assumptions of Consumer Behavior

2.6 Price Elasticity of Supply (PES)

2.8 Market Failure: Externalities & Common Access Resources

2.10 Market Failure: Asymmetric Information

2.12 The Market’s Inability to Achieve Equity

3. Macroeconomics : Notes

3.1 Measuring Economic Activity

3.3 Macroeconomic Objectives

3.5 Demand Management: Monetary Policy

3.7 Supply–Side Policies

3.2 Variations in Economic Activity

3.4 Inequality & Poverty

3.6 Demand Management: Fiscal Policy

4. The Global Economy : Notes

4.1 Benefits of International Trade

4.3 Arguments for & Against Trade Protection

4.5 Exchange Rates

4.7 Sustainable Development

4.9 Barriers to Economic Growth & Development

4.2 Types of Trade Protection

4.4 Economic Integration

4.6 Balance of Payments

4.8 Measuring Economic Development

4.10 Economic Growth & Development

Question & Answers

1. Introduction to Economics : Ques & Ans

1.1 What is Economics

1.2 How do Economics Approach

2. Microeconomics : Ques & Ans

2.1 Demand

2.3 Competitive Market Equilibrium

2.5 Elasticities of Demand

2.7 The Role of Government in Microeconomics

2.9 Market Failure: Public Goods

2.11 Market Failure: Market Power

2.2 Supply

2.4 Critique of the Maximizing Assumptions of Consumer Behavior

2.6 Price Elasticity of Supply (PES)

2.8 Market Failure: Externalities & Common Access Resources

2.10 Market Failure: Asymmetric Information

2.12 The Market’s Inability to Achieve Equity

3. Macroeconomics : Ques & Ans

3.1 Measuring Economic Activity

3.3 Macroeconomic Objectives

3.5 Demand Management: Monetary Policy

3.7 Supply–Side Policies

3.2 Variations in Economic Activity

3.4 Inequality & Poverty

3.6 Demand Management: Fiscal Policy

4. The Global Economy : Ques & Ans

4.1 Benefits of International Trade

4.3 Arguments for & Against Trade Protection

4.5 Exchange Rates

4.7 Sustainable Development

4.9 Barriers to Economic Growth & Development

4.2 Types of Trade Protection

4.4 Economic Integration

4.6 Balance of Payments

4.8 Measuring Economic Development

4.10 Economic Growth & Development