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1. Introduction to Economics
1.1 What Is Economics?
1.2 How Do Economists Approach the World?
2. Microeconomics
2.1 Demand
2.2 Supply
2.3 Competitive Market Equilibrium
2.4 Critique of the Maximizing Behaviour of Consumers and Producers (HL Only)
2.5 Elasticities of Demand
2.6 Elasticity of Supply
2.7 Role of Government in Microeconomics
2.8 Market Failure - Externalities, Common Pool Resources, Public Goods, Asymmetric Information
2.9 Market Failure - Public Goods
2.10 Market Failure - Asymmetric Information (HL Only)
2.11 Market Failure - Market Power (HL Only)
2.12 The Market’s Inability to Achieve Equity (HL Only)
3. Macroeconomics
3.1 Measuring Economic Activities
3.2 Variations in Economic Activity - Aggregate Demand and Aggregate Supply
3.3 Macroeconomic Objectives
3.4 Economics of Inequality and Poverty
3.5 Demand Management - Monetary Policy
3.6 Demand Management - Fiscal Policy
3.7 Supply Side Policies
4. The Global Economy
4.1 Benefits of International Trade
4.2 Types of Trade Protection
4.3 Arguments For and Against Trade Protection
4.4 Economic Integration
4.5 Exchange Rates
4.6 Balance of Payments
4.7 Sustainable Development
4.8 Measuring Development
4.9 Barriers to Economic Growth and Economic Development
4.10 Economic Growth and Economic Development Strategies
Browse summary cheatsheets for
3.1.1 National Income Accounting as a Measure of Economic Activity
8 minute read
3.1.2 Income, Output and Expenditure Approaches to National Income Accounting
10 minute read
3.1.3 Nominal GDP as a Measure of National Output
7 minute read
3.1.4 Nominal GNI as a Measure of National Output
3.1.5 Real GDP and GNI
9 minute read
3.1.6 Real GDP/GNI per Person (per Capita)
3.1.7 Business Cycle
12 minute read
3.1.8 Appropriateness of Using GDP or GNI Statistics
15 minute read
3.1.9 Alternative Measures of Well-Being
16 minute read
