In this course we will study the economic problem in four themes:
- How can governments help solve the economic problem in different cases?
- How is sustainability threatened, while people or companies are making an effort to solve their economic problem?
- How does efficiency conflict with equity while people or companies are making an effort to solve their economic problem?
- How does economic growth conflict with economic development while companies or governments are making an effort to solve their economic problem?
We will study these questions in each of the following four economic domains:
- Microeconomics: the science of choosing on a small scale (individuals, companies).
- Macroeconomics: the science of choosing on a big scale (regions, countries).
- International economics: the science of choosing in interaction with other countries (continents, the entire world).
- Development economics: the science of choosing in order to develop more welfare (developing countries).
During this economics course we will go through all four domains and discuss the material you need to understand for your IB exam. This guide contains a summary of the contents of the course.