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For 2015 IB Economics Exams
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IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
1
TOPIC
UNIT 1 INTRODUCTION TO ECONOMICS
Definitions of social science and economics
Ceteris paribus
what to produce? how to produce? for whom to produce?
UNIT 2 MICROECONOMICS
2.1 Markets
using the characteristics of the number of buyers and
Demand
diagrammatic analysis
- goods
Supply
Interaction of demand and supply
to a new
Price controls
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
2
TOPIC
2.2 Elasticities
-
Cross-elasticity of demand
Income elasticity of demand
Price elasticity of supply
Applications of concepts of elasticity
-
secondary economic growth occurs
ad valorem
2.3 Theory of the firm
Cost theory -run and long-
Short-run
-
-run
-
Profit
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
3
TOPIC
and marginal cost
Perfect competition
Profit- -run and long-run
-run and normal profits in the long-run - -
Monopoly
-
Monopolistic competition
-run and long- differentiation
Oligopoly
-
of non-price competition
Price discrimination
producer or the consumer 2.4 Market failure Reasons for market failure
-term and long- of public goods
Tradable permits
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
4
TOPIC
UNIT 3 MACROECONOMICS
3.1 Measuring national income income
per capita
between countries
3.3 Macroeconomic models components
-run - -
3.4 Demand-side and supply-side policies
-side policies
-side policies
3.5 Unemployment and inflation Unemployment
-deficient
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
5
TOPIC Inflation
measuring inflation
-run -run
-
3.6 Distribution of income
UNIT 4 4.1 Reasons for trade
Definition of free trade Types of protectionism
Arguments for protectionism
Protection of employment
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
6
TOPIC -dumping
Arguments against protectionism
-run reliance on protectionist methods
4.3 Economic integration
Trading blocs
4.5 Balance of payments
account
trade flow
4.7 Balance of payment problems
rates -reducing policies
- -switching policies
- -
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
7
TOPIC 4.8 Terms of trade
domestic economy
-run and long-run
resources
political stability
* * * low incomes Institutional and political factors
International trade barriers
indebtedness
-
-Domar growth model
IIBB EECCOONNOOMMIICCSS RREEVVIISSIIOONN CCHHEECCKKLLIISSTT
Adopted from IB Economics Guide 2005 .... brought to you by www.dineshbakshi.com
8
TOPIC
- -oriented strategies
-
-credit schemes
-
World Bank
-
Happy Revision
PLEASE NOTE: This revision checklist as per the ib economics syllabus 2005 [last exam 2012]