IB Economics material cover two years with daily support for all aspects of instruction (see details posted below). The study will have students begin their study of Economics by researching some basic definitions and the distinctions between Business and Economics, between Microeconomics and Macroeconomics, and between Positive and Normative observations. This should help the student to begin to understand the nature of Economics itself. There are also distinctions made between Market Economics and Authoritarian or Traditional Economies, and students are introduced to simple resource decisions with a production possibilities diagram. The four units cover Microeconomics, Macroeconomics (including schools of thought: Keynesian Economics, Classical Economics, Monetarist Economics, Supply-side economics and the related Laffer Curve theory), International Development and Development Economics.
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