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Unit 2.5(2): Income elasticity of demand (YED)
Income elasticity of demand (YED) measures the relationship between changes in household incomes and changes in demand for different goods and services. YED is useful to different stakeholders in the...
Assessment
Paper 3 question on trade agreements, tariffs, balance of payments current accounts and supply policies
IB Economics Paper 3 includes two compulsory questions. This is a sample Paper 3 question. The time allowed for Paper 3 is 105 minutes, so students should spend 52.5 minutes on each question. This Paper...
Review/Revision
Unit 3.7(2) Interventionist supply side policies
This page covers interventionist supply-side policies and how they might be used to increase economic growth, reduce unemployment and reduce inflation. An interventionist supply-side policy is when the...
Activities
Inflation
The US rate of inflation reached 7 per cent on Thursday 13 January – the highest it has been for 40 years. From a low of 1.4 per cent in January 2021 the US inflation rate has increased each month this...
Assessment
Paper 2 question on the causes and consequences of unemployment, measuring unemployment, subsidies
IB Economics Paper 2 includes two questions, and students need to choose one. This is a sample Paper 2 question. The time allowed for Paper 2 is 105 minutes, so students should spend 105 minutes on this...
Assessment
Mark scheme Q4 Microeconomics (unit 2.5-2.6)
This exam style question was written for the new syllabus and can be completed as a homework or in-class written exercise. Section B questions now require candidates to explicitly apply their response...
Activities
Unit 3 Macroeconomics
This section of the extension material covers measuring national economic income and economic development, aggregate demand and supply, and macroeconomic objectives and policies. ...
Assessment
Paper 3 question on behavioural economics, PED and negative externalities
IB Economics Paper 3 includes two compulsory questions. This is a sample Paper 3 question. The time allowed for Paper 3 is 105 minutes, so students should spend 52.5 minutes on each question. This Paper...
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Assessment
Mark scheme Q5 unit 4 (unit 4.10)
This exam style question was written by me and while part (a) is relatively straightforward, requiring simple supply and demand diagrams, section B must be related specifically to LEDCs and not developed...
Activities
Paper 1 real world example: Social costs in the mobile phone market
A report by the United Nations Educational, Scientific and Cultural Organization(UNESCO) recommended that governments ban mobile phones in schools. Many countries have followed the recommendation including...
Activities
Economics games Free
This section contains a number of games and fun activities which I hope your students will enjoy as well as find educational. I will add more games to this section so keep an eye for new additions. Games...
Assessment
Paper 2 question on markets, demand and supply, PED, YED and PES
IB Economics Paper 2 includes two questions, and students need to choose one. This is a sample Paper 2 question. The time allowed for Paper 2 is 105 minutes, so students should spend 105 minutes on this...