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Unit 3.3(2) Macroeconomic objectives: unemployment free28 October 2021
Unemployment is normally thought of as an economic problem that faces all countries to a greater or lesser extent. It is also a challenge to countries that are constantly changing over time. During recessions,... more
Paper 3 question on calculating national income (HL only)free28 October 2021
Answer one question. Each question is worth [30 marks]. Write your answers in the boxes provided. This paper is based on the new syllabus and contains a policy response question.The following table represents... more
Unit 3.3(1) Macroeconomic objectives: economic growth28 October 2021
Economic growth is a key statistic used by economists to measure the performance of a country's economy. Economic growth is the increase in a country’s real GDP over a given time period. This is normally... more
Aggregate supply is the total quantity of all goods and services the economy can produce at a given price level and in a given time period. At a microeconomic level, we consider the supply of a particular... more
The level of economic activity measured by the real GDP of a country is determined by the interaction of aggregate demand and aggregate supply of the whole economy. Changes in aggregate demand and aggregate... more
Unit 3.1(2): Measuring Economic Development28 October 2021
Economic development can be defined as the improvement of the well-being of a country’s citizens over time. Welfare or well-being are subjective terms, which makes defining economic development as 'an... more
Unit 3.1(1): Measuring the level of economic activity28 October 2021
Economic activity is where scarce resources are allocated to produce goods and services to satisfy human wants. Macroeconomics is the study of economic activity from a whole economy perspective. This... more
Unit 3.5 and 3.6 review sheetfree27 October 2021
I have included this page, which contains a PDF handout as a simple revision exercise. I find that many IB students get a degree of comfort from these short summary handouts.The review sheet is available... more
Unit 3.7: Review sheet27 October 2021
I have included this page, which contains a PDF handout as a simple revision exercise. I find that many IB students get a degree of comfort from these short summary handouts.Available as a PDF file at:... more