IB Economics (PowerPoint) by wuxiangyu


									IB Economics
  Standard & Higher Level
      Starting September 2008
  What is Economics and why is it
   Can we prevent global warming?
   Can we feed an ever growing population?
   Is it possible to bring prosperity to all?
   Will there be wars fought over oil and food in the future?
   In a world of poverty, environmental degradation, conflict, inequality, and turmoil,
it is important that we use the proper tools for examining the issues that confront us.

 Economics is the study of choices – how to best make them and how we can best
meet our needs.

 In the long run, free trade benefits everyone; in the short run it is bound to
produce much pain.                         Hobhouse, Henry

 It is the interest of the commercial world that wealth should
be found everywhere                        Burke, Edmund
    What will you study in IB
   The nature of the economic problem: scarcity,
choice, and cost
  Markets, efficiency, and market failure
  Economies and economic organisation
  Business economics: firms and
market structure
  Macro-economics: unemployment,
inflation, and growth
  International Trade
  The economics of development
     Who is IB Economics suitable for?
It is designed to accommodate pupils who:
        Are interested in politics
        Want to understand the news
        Are interested in current affairs and issues
        Are concerned about the environment, equality and
        Who want to be educated voters
       Who are interested in how government
      affects business
  You do not need previous experience
or coursework in Economics!!!!

IB Economics assumes students have
no previous economic experience.
                 Economics Syllabus

      Core Themes                      HL Extension
Introduction to economics      Taxes and tax incidence
Microeconomics                 Theory of the Firm
     Markets                        Costs and profits
     Elasticities                   Perfect competition
     Market Failure                 Monopoly
Macroeconomics                      Oligopoly
     National income                Monopolistic competition
     Development                    Price discrimination
     Macroeconomic models      Measuring inflation and
     Demand and Supply-side   unemployment
   policies                    Multiplier, accelerator
     Unemployment              Crowding out
     Inflation                 Phillips Curve
     Distribution of Income    Measuring Distribution of Income
                 Economics Syllabus

       Core Themes                      HL Extension
International Economics                   Comparative Advantage
     Why Trade?                           Limitations of the theory
     Free Trade and                       Problems integrating
   Protectionism                          Trade creation and diversion
     Economic Integration                 Marshal-Lerner condition
     WTO                                  Measurement of terms of
     Balance of Payments                trade
     Exchange Rates
     Problems with trade
   surpluses and deficits
     Terms of Trade
Economics Syllabus

              Core Themes
Development Economics
    Sources of growth and development
    Consequences of development
    Barriers to growth and development
    Growth and development strategies
    Evaluating growth strategies
          Internal Assessment
All students will compile a portfolio of commentaries of four news
Each commentary is between 650-750 words.
The commentaries are based on contemporary news articles that
enable the student to analyse the situation
and apply the economic theories and
concepts which best explain the story
reported in the newspaper.
The commentaries are spaced throughout
the two year course.
         Teaching Methods
 Enquiry-based work
Individual Research
Role Plays
Group work
Online Internet lessons & Activities
  Possible Homework Tasks
Group Work
Individual / pair presentations
Structured Questions
Analysis of the news
Data Analysis tasks
                        Feel free to ask!
There are 10 to the eleventh power stars in the galaxy. That used to be a
huge number. But it’s only a hundred billion. It’s less than the national
deficit! We used to call them astronomical numbers. Now we should call
them economical numbers.       Richard Feynman

If all the economists were laid end to end, they'd
never reach a conclusion. Shaw, George Bernard

Ask five economists and you'll get five different
answers (six if one went to Harvard)
Fiedler, Edgar R

While the miser is merely a capitalist gone mad,
the capitalist is a rational miser.     Karl Marx

Money is like manure; it's not worth a thing
unless it's spread around encouraging young
things to grow         Wilder, Thornton Niven
                      "The Matchmaker"

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