IB Revision Guide for Economics

Section 1: Microeconomics

Microeconomics

Section 1.0 The foundations of economics
1.1 Competitive markets: demand and supply
1.2 Elasticity
1.3 Government intervention
1.4 Market failure
1.5 Theory of the firm and market structures
Section 2: Macroeconomics

Macroeconomics

2.1 The level of overall economic activity
2.2 Aggregate demand and aggregate supply
2.3 Macroeconomic objectives
2.4 Fiscal policy
2.5 Monetary policy
2.6 Supply-side policies
Section 3: International economics

International economics

3.1 International trade
3.2 Exchange rates
3.3 The balance of payments
3.4 Economic integration
3.5 Terms of trade
Section 4: Development economics

Development economics

4.1 Economic development
4.2 Measuring development
4.3 The role of domestic factors
4.4 The role of international trade
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

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