The following topics will be covered in IB Economics HL Class.

Introduction to Economics

• Key Concepts

The Fundamental Economic Problem

Market Equilibrium and Resource Allocation

• Demand
• Supply
• How demand and supply interact to establish market equilibrium

Elasticity of Demand and Supply

• Price elasticity of demand (PED)
• Income elasticity of demand (YED)
• Price elasticity of supply (PES)
• Applications of elasticity

Government Intervention in the market

• Price controls
• Indirect Taxes
• Subsidies
• Evaluation of Government Intervention in the Market

Market Failure

• Externalities
• Government policies to reduce market failure resulting from externalities
• Public goods
• Asymmetric Information
• Common access or pool resources
• Monopoly power

Profit Maximisation under different market structures

• Profit
• Costs of production
• Revenue from production
• Profit maximisation
• Profit maximisation under different market structures
• Behavioural theories

Equity and Equality

Macroeconomics

• The measurement of economic activity
• The concept of the circular flow
• How to analyse macroeconomic equilibrium
• How to apply the AD/AS model
• Objectives of government policy (Causes of problem)
• Government policy to achieve the objectives (Cures)
• Applying the cures to the causes
• Consequences of failing to achieve the objectives

The Global Economy

• The gains from trade
• Restrictions on the freedom of trade: Protection
• Types of protection
• Trading Blocs
• Exchange Rates (ER)
• The effects of exchange rate changes
• Alternative ER systems
• Balance of Payments
• Current Account disequilibria
• How to correct a current account deficit
• Some additional points
• Development Economics
• Barriers to development
• Strategies to promote economic growth and development

Key Features:

Training Type: Online Live Interactive Session.

Experienced Faculty.

1 ON 1 Sessions

Access to Class Recordings.

Weekday / Weekend Classes.

Evening Schedule:

2 to 3 Days / Week

8:30 PM – 9:30 PM EST

9:00 PM – 10:00 PM EST

9:30 PM – 10:30 PM EST

10:00 PM – 11:00 PM EST

Morning Schedule:

2 -3 Days / Week

10:00 AM – 11:00 AM EST

10:30 AM – 11:30 AM EST

11:00 AM – 12:00 PM EST

11:30 AM – 12:30 PM EST

Please contact us, If you are looking for different schedule or need more information.

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