📊 IBDP Economics (SL and HL) – Comprehensive Course Summary

📌 Subject Overview

IBDP Economics examines how societies allocate limited resources to satisfy their unlimited wants and needs. It covers microeconomics, macroeconomics, international trade, and the implications of government economic policies.

🌟 Key Features

• 📈 Theory and Real-World Application: Integration of economic theory with practical case studies.

• 📉 Quantitative and Qualitative Analysis: Usage of economic data to build and support arguments.

• 🌐 Global Focus: In-depth exploration of international trade and global economic development.

🎯 Aims and Objectives

• Understanding Economic Principles: Master core economic theories and concepts.

• Analyzing Economic Issues: Utilize quantitative and qualitative data to critically analyze economic matters.

• Evaluating Economic Decisions: Assess the broader societal and environmental impacts of economic policies.

📖 Course Structure

Standard Level (SL)

Core areas include:

• Microeconomics

• Macroeconomics

• International Economics

• Development Economics

Higher Level (HL)

Includes SL core topics plus:

• Advanced quantitative methods

• In-depth policy analysis

• HL-specific extensions in all core topics

📌 Key Topics Explored

• 💹 Supply and Demand: Core concepts of market dynamics and pricing.

• 🏦 Fiscal and Monetary Policies: Government and central bank interventions in managing economic stability.

• 📦 International Trade Agreements: Effects of trade policies on global and national economies.

• 🌱 Sustainable Economic Development: Strategies for achieving balanced long-term economic growth.

📝 Assessment Structure

• 🖊️ Paper 1 (SL 30%, HL 20%): Essay questions covering broad economic themes.

• 📊 Paper 2 (SL 40%, HL 30%): Data response questions interpreting economic data.

• ➗ Paper 3 (HL Only, 30%): Quantitative methods and mathematical economic analysis.

• 🗂️ Internal Assessment (IA, SL 30%, HL 20%): Portfolio of commentaries based on real-world economics articles.

🛠️ Key Skills Developed

• 📊 Data Analysis: Competence in interpreting economic charts, graphs, and reports.

• 🏛️ Policy Evaluation: Critical assessment of government economic interventions.

• 🧐 Critical Thinking: Analyzing trade-offs, opportunity costs, and economic decisions.

📚 Example Topics

• 📈 Inflation and Unemployment: Exploration of their interrelation and impact on economic stability.

• 🌍 International Sanctions: Economic consequences of sanctions on international trade.

🔄 SL vs HL Differences

• 📐 Quantitative Focus: HL includes Paper 3 dedicated to advanced quantitative analysis.

• 🔍 Analytical Depth: HL demands more comprehensive analysis and complex data interpretation.

🌍 Global Issues Explored

• 💲 Poverty and Inequality: Examination of global income disparities.

• 🌎 Climate Change: Economic implications of environmental and regulatory challenges.

🎓 Career and Academic Relevance

Career Opportunities

• Economic Analyst

• Public Policy Expert

• Finance and Banking

• International Trade Specialist

Academic Pathways

• Economics

• Finance

• Political Science

• Global Development Studies

✅ Summary

IBDP Economics equips students with essential skills to critically analyze economic principles and real-world issues, preparing them effectively for impactful roles in global economics, public policy, and beyond.