![]() These calculations can be asked within Paper 2 for SL. Although in previous years SL students didn’t have to do any economic calculations within their examinations, calculations for a select number of topics in Economics have been included in the syllabus. There are also some HL only topics within microeconomics that are related to market failure. So what is the difference between SL and HL? While the main difference lies in the fact that HL students must do an extra paper (Paper 3), many topics will have HL extensions that HL students only need to know such as calculations and graphs. For example, the new curriculum includes the topic of sustainable development and its relation towards poverty in the global economy. However, other topics have been included into the syllabus as a result. A few topics have been removed from the syllabus, such as cross product elasticity in microeconomics. In addition, introduction to economics is a new unit to introduce the student towards economics as a subject. International economics and developmental economics were previously different units but are now combined together in the global economy unit. There have been a few syllabus changes done to IB Economics in the new curriculum, with certain content being added and removed. International economics looks into how economic governments interact with one another on a global scale, while developmental economics looks into the economies of developing countries, such as Haiti and Bangladesh, and tries to find ways of improving such economies. The global economy unit consists of both international economics and developmental economics. On the other hand, macroeconomics is about how economies as a whole work and how they’re structured. To give a brief overview, microeconomics delves into how businesses and individuals work within an economy. You can find the official subject brief with the curriculum for SL here and for HL here. Economics is an extremely broad subject as a result, IB economics aims to provide a good breadth of knowledge of economics as a whole. IB Economics consists of four units: introduction to economics, microeconomics, macroeconomics, and the global economy. If you answered yes to any of these questions, IB Economics might just be the subject for you! You may need this subject if you plan on studying economics, international relations, finance, business management and similar majors in university. This article goes through the IB Economics SL/HL course for the May 2022 cohort and beyond.Īre you interested in finding out how governments alleviate poverty? How about the differences between carbon taxes and trading schemes? Or maybe you want to know why countries trade with either other. Note: The Economics course changed recently. ![]()
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