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Economics

4個單元

Introduction to economics

What is economics?
How do economists approach the world?

Microeconomics

Demand
Supply
Competitive market equilibrium
Critique of the maximizing behaviour of consumers and producers
Elasticity of demand
Elasticity of supply
Role of government in microeconomics
Market failure—externalities and common pool or common access resources
Market failure—public goods
Market failure—asymmetric information (HL only)
Market failure—market power (HL only)
The market’s inability to achieve equity (HL only)

Macroeconomics

Measuring economic activity and illustrating its variations
Variations in economic activity— aggregate demand and aggregate supply
Macroeconomic objectives
Economics of inequality and poverty
Demand management (demand-side policies)—monetary policy
Demand management—fiscal policy
Supply-side policies

The global economy

Benefits of international trade
Types of trade protection
Arguments for and against trade control/ protection
Economic integration
Exchange rates
Balance of payments
Sustainable development
Measuring development
Barriers to economic growth and/or economic development
Economic growth and/or economic development strategies

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