IB Economics Syllabus

Section 1: Microeconomics

1.1 Competitive markets: demand and supply (some topics HL only)

1.2 Elasticity

1.3 Government intervention (some topics HL extension, plus one topic HL only)

1.4 Market failure (some topics HL only)

1.5 Theory of the firm and market structures (HL only)

Section 2: Macroeconomics

2.1 The level of overall economic activity (one topic HL extension)

2.2 Aggregate demand and aggregate supply (one topic HL only)

2.3 Macroeconomic objectives (some topics HL extension, plus one topic HL only)

2.4 Fiscal policy

2.5 Monetary policy

2.6 Supply-side policies

Section 3: International economics

3.1 International trade (one topic HL extension, plus one topic HL only)

3.2 Exchange rates (some topics HL extension)

3.3 The balance of payments (one topic HL extension, plus some topics HL only)

3.4 Economic integration (one topic HL extension)

3.5 Terms of trade (HL only)

Section 4: Development economics

4.1 Economic development

4.2 Measuring development

4.3 The role of domestic factors

4.4 The role of international trade (one topic HL extension)

4.5 The role of foreign direct investment (FDI)

4.6 The roles of foreign aid and multilateral development assistance

4.7 The role of international debt

4.8 The balance between markets and intervention