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Economics

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Course Overview

The aims of all subjects in individuals and societies are to: Encourage the systematic and critical study of human experience and behaviour; physical, economic and social environments; the history and development of social and cultural institutions. Develop in the student the capacity to identify, analyse critically and evaluate theories, concepts and arguments about the nature and activities of the individual and society. Enable the student to collect, describe and analyse data used in studies of society, and to test hypotheses and interpret complex data and source material. Promote the appreciation of the way in which learning is relevant to both the culture in which the student lives and the culture of other societies. Develop an awareness in the student that human attitudes and opinions are widely diverse and that a study of society requires an appreciation of such diversity. Enable the student to recognize that the content and methodologies of the individuals and societies group are contestable and that their study requires the tolerance of uncertainty.

Economics aims

    The aims of the economics course at SL and HL are to enable students to:

  • Develop a critical understanding of a range of economic theories, models, ideas and tools in the areas of microeconomics, macroeconomics and the global economy.
  • Apply economic theories, models, ideas and tools and analyse economic data to understand and engage with real-world economic issues and problems facing individuals and societies.
  • Develop a conceptual understanding of individuals’ and societies’ economic choices, interactions, challenges and consequences of economic decision-making.

SYLLABUS COMPONENT

Topic 1: Introduction to economics
What is economics?
How do economists approach the world?
Topic 2: Microeconomics
Demand (includes HL only sub-topics)
Supply (inclused HL only sub-topics)
Competitive market equilibrium
Critique of the maximizing behaviour of consumers and producers
Elasticity of demand (includes HL only sub-topics)
Elasticity of supply (includes HL only sub-topics)
Role of government in microeconomics (includes HL only calculation)
Market failure – externalities and common pool or common access resources (includes HL only calculation)
Market failure – public goods
Market failure -asymmetric information (HL only)
Market failure -market power (HL only)
The market’s inability to achieve equity (HL only)
Topic 3: Macroeconomics
Measuring economic activity and illustrating its variations
Variations in economic activity -aggregate demand and aggregate supply
Macroeconomic objectives (includes HL only calculation)
Economics of inequality and poverty (includes HL only calculation
Demand management (demand sice policies)- monetary policy (includes HL only sub-topics)
Demand management -fiscal policy (includes HL only sub-topics)
Supply-side policies
Topic 4: The global economy
Benefits of international trade (includes HL only subtopics and calculation)
Types of trade protection (includes HL only calculations)
Arguments for and against trade control/protection
Economic integration
Exchange rates (includes HL only sub-topic)
Balance of payments (includes HL only sub-topics)
Sustainable development (includes HL only sub-topic)
Measuring development
Barriers to economic growth and/or economic development
Economic growth and/or economic development strategies

PRICING
$40 – 1 Hour Session
$200 – 5 Hours Session
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1 review for Economics

  1. 4 out of 5

    :

    Whenever I had questions or needed clarification, the tutor was always available and responsive. Their expertise and passion for the subject matter were evident throughout the cours

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Start On July 25, 2023
Duration 1H
Level Beginner
Tutoring Mode Online
Payment mode Pre paid
Seat avaiable 35

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