Block 6
Course Overview
IB Economics can be studied at Standard and Higher Level.
Economics exists in the local, national and international context. The fundamental economic problem relates to all societies; it is a common issue which ties all communities together. All students will learn about the complex relationships established in a global economic environment, the theoretical underpinning of these links and appreciate the different perspectives of these relationships. As a social science, the subject adopts an empirical approach to the study of social phenomena. Based on a methodology dominated by ‘modelling’, an appreciation of this process should assist students understand the ‘theory of knowledge’ that underlies the subject.
The Standard Level course will provide the ‘core’ material of the subject, which is further developed in the Higher Level course. In microeconomics students will consider how markets work and the concept of market failure. With reference to macroeconomics, issues relating to modelling an economy, economic growth, inflation, unemployment and macroeconomic policy are the focus. In international economics attention is given to economic integration, trade, protectionism and exchange rates. The course concludes exploring broader development issues.
It is a student-centred course promoting the development of independent, critical and reflective learners. Based on case studies, students will develop their knowledge and understanding of economics through their research of relevant concepts and theories, learning how to use economic analysis in an applied manner.
Assessment
Higher Level students will give specific policy consideration to more advanced material that includes cost analysis, business decision making, models of market structure, market efficiency, and an introduction to Keynesian and Neo-Classical perspectives of macroeconomics.
Skills Gained on this Course
Beyond IB
Economics is widely accepted by universities and employers. This subject can open up opportunities in management, retailing, marketing, sales, accountancy, research, the civil service and consultancy. Economics can be useful as a complement to many other subjects and careers because of the range of transferable skills acquired.
Students answer one question from a choice of three.
SL 30%; HL 20%
1 hour 15 minutes
Students answer one question from a choice of two.
SL 40%; HL 30%
1 hour 45 minutes
Students answer two compulsory questions.
HL only, 30%
To find out more about this course please contact Head of Department: Peter Rowley
To apply for our Sixth Form please see our Admissions page.
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