IBDP SYLLABUS ...SUMMARY(ECONOMICS)

Section 1: Microeconomics

1.1 Competitive markets: demand and supply

1.2 Elasticity

1.3 Government intervention

1.4 Market failure

1.5 Theory of the firm and market structures

Section 2: Macroeconomics

2.1 The level of overall economic activity

2.2 Aggregate demand and aggregate supply

2.3 Macroeconomic objectives

2.4 Fiscal policy

2.5 Monetary policy

2.6 Supply-side policies

Section 3: International economics

3.1 International trade

3.2 Exchange rates

3.3 The balance of payments

3.4 Economic integration

3.5 Terms of trade

Section 4: Development economics

4.1. Economic development

4.2. Measuring development

4.3. The role of domestic factors

4.4. The role of international trade

4.5. The role of foreign direct investment (FDI)

4.6. The roles of foreign aid and multilateral development assistance

4.7. The role of international debt

4.8. The balance between markets and intervention

Internal assessment Portfolio of three commentaries

III. Assessment model

There are four assessment objectives for the DP economics course.

Having followed the course at higher level (HL), students will be expected to meet the following objectives. Assessment objective 1:

Knowledge and understanding

• Demonstrate knowledge and understanding of the common SL/ HL syllabus.

• Demonstrate knowledge and understanding of current economic issues and data.

• Demonstrate knowledge and understanding of the HL extension topics.

Assessment objective 2:

Application and analysis

• Apply economic concepts and theories to real-world situations.

• Identify and interpret economic data.

• Demonstrate the extent to which economic information is used effectively in particular contexts.

• Demonstrate application and analysis of the extension topics.

Assessment objective 3:

 Synthesis and evaluation

• Examine economic concepts and theories.

• Use economic concepts and examples to construct and present an argument.

• Discuss and evaluate economic information and theories.

• Demonstrate economic synthesis and evaluation of the extension topics.

Assessment objective 4:

Selection, use and application of appropriate skills and techniques

• Produce well-structured written material, using appropriate economic terminology, within specified time limits.

• Use correctly labelled diagrams to help explain economic concepts and theories.

• Select, interpret and analyse appropriate extracts from the news media.

• Interpret appropriate data sets.

• Use quantitative techniques to identify, explain and analyse economic relationships

IV. Sample questions

Paper 1

• Explain why firms in monopolistic competition can make economic profit in the short run only.

• Compare and contrast the market structures of monopoly and monopolistic competition.

Paper 2

• State two reasons why a multinational corporation (MNC) may wish to invest in an economically less developed country (LDC).

Assessment at a glance

Type of assessment	Format of assessment
External
Paper 1	Extended response paper on microeconomics and macroeconomics
Paper 2	Data response paper on international and development economics
Paper 3	HL extension paper on all syllabus content
Internal
Portfolio	Three commentaries based on different sections of the syllabus and on published extracts from the news media.