With the IBDP Economics course, students can gain knowledge of the complexity and interconnection of economic activity in a quickly changing world by studying economics, which is an engaging and dynamic topic.
The issue of scarcity lies at the core of the economic theory. Due to scarcity, decisions must be made. The economics course at both SL and HL looks at how these decisions are made using economic theories, models, and fundamental concepts.
- at the level of producers and consumers in individual markets (microeconomics)
- at the level of the government and the national economy (macroeconomics)
- at an international level, where countries are becoming increasingly interdependent (the global economy).
Students in the economics course will acquire the knowledge, skills, values, and attitudes that will motivate them to act responsibly as global citizens by focusing on the six real-world issues through the nine key concepts (scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, and intervention).
In this article, we will be giving you an overlook of the IBDP Business Management course aims and objectives, key features of the course and career benefits.
Aims and Objectives of the course
IBDP Economics offers following aims and objectives:
- Learn to analyze a variety of economic theories, models, concepts, and methods in the fields of microeconomics, macroeconomics, and the global economy.
- Apply economic theories, models, ideas, and techniques, as well as analyze economic data to comprehend and interact with the societal and individual economic concerns of today.
- Create a conceptual knowledge of the interactions, problems, and effects of economic decision-making for both individuals and societies.
Key features of the curriculum
- Course offered at both HL and SL levels.
- 150 hours for SL and 240 for HL.
- Both internal and external mode of assessment is used.
- At the HL level, advanced studies and approaches are applied.
Benefits of choosing this course
- Demonstrate knowledge and understanding of current economic issues and data
- Apply economic concepts and theories to real-world situations to identify and interpret economic data
- Use economic concepts and examples to construct and present an argument
- Use quantitative techniques to identify, explain and analyse economic relationships