The Year - IB Economics

First Day Handout

Course Objectives

1.        To analyze, deduce, reason and, in short, to think will be requirements of the course. I will encourage 'smart/efficient' work practices to achieve high quality results.

2.        To develop knowledge and practices that will make you successful college students.

3.        To achieve IB results that reflect your ability and effort

Assessment Model

Assessment

1.        All assessment will be as objective as possible and grades will directly reflect the results you achieve.

2.        DO NOT associate IB based assessments directly with school grades!

3.        I will provide a profile page summarizing all results and will try to do this at least twice a quarter. Feel free to tell me if there are any clerical errors.

4.        There will be no 'extra credit' work.

5.        Assigned work will either be Formative (non-graded) or Summative (graded).  You may choose not to do Formative work (perhaps because of pressure of other work) but be warned that failure to do this work will jeopardise your progress.

6.        10% of your grade will be for organisation and meeting deadlines.  Late work will be accepted when possible but 1% will be deducted from this grade component for each late item (maintaining equity among students may mean that sometimes it will not be possible to accept late work).

7.        The responsibility for catching up on missed work is yours.

8.        20% of your final semester grade will come from your exam result.

Attendance

Arriving in class after the taking of the roll has been completed will be regarded as 'Tardy'. The responsibility for presenting 'Green' slips from the school office is yours.

Tutorial

My tutorial time is Period 4, on Monday, Tuesday and Friday on Week One

and Monday, Thursday and Friday on Week Two

Conclusion

My over‑riding objective is to prepare you to be successful university/college students. However,

I also aim for you to find the course interesting and challenging but not daunting

You will maximize your progress if you come to class prepared to ask questions. In your mind, at the very least, be asking why and how. I will be particularly pleased if you ask a question that 'stops me in my tracks' or, even better, one that illicits the response ¡®you will have to give me time to think about that'.

Syllabus Outline

HL and SL

Year One

Section 1: Resources and markets

1.1        Foundation of economics

1.2        Resource allocation in the market

1.3        Market failure and government response

1.4        Alternatives to the market system

Section 2: Business economics

2.1        Elasticity of demand and supply

2.2        Aims and objectives of firms

2.3        Economic efficiency

Year Two

Section 3: Macroeconomic arguments

3.1        Concepts, uses and limitations of National Income Accounts

3.2        Macroeconomic policy objectives

3.3        Macroeconomic models

3.4        Unemployment and inflation

Section 4: International issues

4.1        Gains from trade

4.2        Protectionism

4.3        Balance and payments, main definitions

4.4        Exchange rates

4.5        Balance of payments and exchange rates

Section 5: Development economics

5.1        Distinction between economic growth and development

5.2        Characteristics of economic growth

5.3        Indicators of economic development

5.4        Sources of economic development

5.5        Development strategies

5.6        Barriers to economic development

5.7        Negative aspects of development

5.8        Sustainable development