The following topics will be covered in IB Economics Class.
Economics SL
Introduction to Economics
- Key Concepts
The Fundamental Economic Problem
Market Equilibrium and Resource Allocation
- Demand
- Supply
- How demand and supply interact to establish market equilibrium
Elasticity of Demand and Supply
- Price elasticity of demand (PED)
- Income elasticity of demand (YED)
- Price elasticity of supply (PES)
- Applications of elasticity
Government Intervention in the market
- Price controls
- Indirect Taxes
- Subsidies
- Evaluation of Government Intervention in the Market
Market Failure
- Externalities
- Government policies to reduce market failure resulting from externalities
- Public goods
- Common access or pool resources
Equity and Equality
Macroeconomics
- The measurement of economic activity
- The concept of the circular flow
- How to analyse macroeconomic equilibrium
- How to apply the AD/AS model
- Objectives of government policy (Causes of problem)
- Government policy to achieve the objectives (Cures)
- Applying the cures to the causes
- Consequences of failing to achieve the objectives
The Global Economy
- The gains from trade
- Restrictions on the freedom of trade: Protection
- Types of protection
- Trading Blocs
- Exchange Rates (ER)
- The effects of exchange rate changes
- Alternative ER systems
- Balance of Payments
- Current Account disequilibria
- How to correct a current account deficit
- Some additional points
- Development Economics
- Barriers to development
- Strategies to promote economic growth and development
Additional topics
- Numerical questions
- Inflation revisited
- Fiscal policy revisited
Economics HL
Introduction to Economics
- Key Concepts
The Fundamental Economic Problem
Market Equilibrium and Resource Allocation
- Demand
- Supply
- How demand and supply interact to establish market equilibrium
Elasticity of Demand and Supply
- Price elasticity of demand (PED)
- Income elasticity of demand (YED)
- Price elasticity of supply (PES)
- Applications of elasticity
Government Intervention in the market
- Price controls
- Indirect Taxes
- Subsidies
- Evaluation of Government Intervention in the Market
Market Failure
- Externalities
- Government policies to reduce market failure resulting from externalities
- Public goods
- Asymmetric Information
- Common access or pool resources
- Monopoly power
Profit maximisation under different market structures
- Profit
- Costs of production
- Revenue from production
- Profit maximisation
- Profit maximisation under different market structures
- Behavioural theories
Equity and Equality
Macroeconomics
- The measurement of economic activity
- The concept of the circular flow
- How to analyse macroeconomic equilibrium
- How to apply the AD/AS model
- Objectives of government policy (Causes of problem)
- Government policy to achieve the objectives (Cures)
- Applying the cures to the causes
- Consequences of failing to achieve the objectives
The Global Economy
- The gains from trade
- Restrictions on the freedom of trade: Protection
- Types of protection
- Trading Blocs
- Exchange Rates (ER)
- The effects of exchange rate changes
- Alternative ER systems
- Balance of Payments
- Current Account disequilibria
- How to correct a current account deficit
- Some additional points
- Development Economics
- Barriers to development
- Strategies to promote economic growth and development
Additional topics
- Numerical questions
- Inflation revisited
- Fiscal policy revisited
Key Features:
1 ON 1 Sessions
We follow your Syllabus
Online Live Interactive Sessions with ZOOM
Experienced Faculty.
Access to Class Recordings.
Weekday / Weekend Classes.
2 Days / Week
Available Days:
MON – SUN (7 Days/ Week)
Morning Timings:
10:00 AM – 11:00 AM EST
OR
11:00 AM – 12:00 NOON EST
Evening Timings:
7:30 PM – 8:30 PM EST
OR
8:30 PM – 9:30 PM EST
OR
9:30 PM – 10:30 PM EST
If you are looking for different schedule or need more information. Please contact us.
Phone: 1+ 734 548 9204
info@gurujee.org
