IBDP Economics Change

IBDP Economics Notes

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IBDP Economics · Change course

IB Diploma Programme Economics, Standard Level and Higher Level: Units 1–4. Notes follow the syllabus topic by topic, with diagrams, worked examples, exam practice and exemplar answers; Higher Level content is marked HL only. Independent resource by Sanjay Rajawat; not endorsed by the International Baccalaureate Organization.

IBDP TOOLKIT

Definition bank · 369 terms

Formula bank · 52 calculations

Diagram bank · 73 diagrams

Real-world examples bank · 2 examples for every topic, with exam tips

Internal assessment guide · 7 pages

Command terms guide · 33 terms with examples

Unit 1: Introduction to economics ✓ Free

1.1 What is economics?

1.2 How do economists approach the world?

📝 Unit 1 Paper 2 practice – one 40-mark data-response set

Unit 2: Microeconomics 🔒 Subscription Required

2.3 Competitive market equilibrium

2.4 Critique of the maximizing behaviour of consumers and producersHL only

2.5 Elasticities of demand

2.6 Elasticity of supply

2.7 Role of government in microeconomics

2.8 Market failure: externalities and common pool or common access resources

2.9 Market failure: public goods

2.10 Market failure: asymmetric informationHL only

2.11 Market failure: market powerHL only

2.12 The market's inability to achieve equityHL only

📝 Unit 2 Paper 2 practice – one 40-mark data-response set

Unit 3: Macroeconomics 🔒 Subscription Required

3.1 Measuring economic activity and illustrating its variations

3.2 Variations in economic activity: aggregate demand and aggregate supply

3.3 Macroeconomic objectives

3.4 Economics of inequality and poverty

3.5 Demand management (demand-side policies): monetary policy

3.6 Demand management: fiscal policy

3.7 Supply-side policies

📝 Unit 3 Paper 2 practice – one 40-mark data-response set

Unit 4: The global economy 🔒 Subscription Required

4.1 Benefits of international trade

4.2 Types of trade protection

4.3 Arguments for and against trade protection

4.4 Economic integration

4.5 Exchange rates

4.6 Balance of payments

4.7 Sustainable development

4.8 Measuring development

4.9 Barriers to economic growth and/or economic development

4.10 Policies to promote economic growth and/or economic development

📝 Unit 4 Paper 2 practice – one 40-mark data-response set

Paper 1 bank Short-answer and extended-response questions, by unit

Unit 2: Microeconomics · 24 questions (a)+(b)

Unit 3: Macroeconomics · 16 questions (a)+(b)

Unit 4: The global economy · 21 questions (a)+(b)

Paper 2 bank Data-response case studies, 40 marks each

Units 1–2: Introduction and microeconomics · 4 case studies (40 marks each)

Unit 3: Macroeconomics · 5 case studies (40 marks each)

Unit 4: The global economy · 5 case studies (40 marks each)

Paper 3 practice (HL) Policy paper practice sets, 60 marks each

Set 1: Microeconomics A (2.1–2.7) · 2 questions, 60 marks

Set 2: Microeconomics B (2.8–2.12) · 2 questions, 60 marks

Set 3: Macroeconomics (3.1–3.7) · 2 questions, 60 marks

Set 4: The global economy (4.1–4.10) · 2 questions, 60 marks

Quantitative skills workbook Every calculation in the syllabus, with HL questions tagged

Part 1: Introduction · Ch 1–2

Part 2: Microeconomics · Ch 3–19

Part 3: Macroeconomics · Ch 20–28

Part 4: Global economy · Ch 29–38

Full workbook (all 38 chapters) · 38 chapters