Economics

Course summary

IB Economics can be followed at both Higher and Standard levels and includes the study of: • Microeconomics (considering concepts such as the basic economic problem, decision making and how individual markets work, the theory of the firm and market failure); • Macroeconomics (considering economic concepts at the level of the economy as a whole, looking at issues such as economic growth, inflation, unemployment and income distribution); • International Development Economics have now combined to be The Global Economy