Economics is the study of production, distribution and allocation of resources. Economic lessons can be applied in a diverse range of fields in real life. It explains phenomena as diverse as progress of nations to choice of one brand of chocolate over another in a grocery shop.
IB Economics is an introductory Economics course for the high school level. It serves as an introduction to Economics and builds foundations for higher level courses. The focus is on applying Micro and Macro Economic theories to real life issues such as dynamic nature of commodity and other markets around the world, economic development, and environmental sustainability among others. Modern Economic theory stems out of a desire to ground Economic models in rigorous mathematics, not much different from the sciences. The new IB Syllabus recognizes that and some mathematical models are now introduced in the course (for first examination in 2013). This makes the new syllabus is significantly more challenging than the previous year’s syllabi.
IB Economics can be taken at both higher (HL) and standard (SL) level. Higher level Economics is more suited for students who have had some previous exposure in Economics in the MYP or in IGCSE. It prepares students well for further economic studies at college level. Standard level, on the other hand, is more suited for students just looking for an introduction to this fascinating subject and do not want to continue studying Economics as a subject at undergraduate level.
In line with requirements of the new syllabus, we at Student’s Inn have prepared a structured program for all students. The tutors will first go over the topics in class and then discuss some sample questions. Techniques to answer questions that appear more frequently than the others are discussed and students practice identifying graphs in several possible situations. Care is taken to ensure that interesting examples are discussed in class that create and sustain interest in the topic. After the class, they are given practice questions from past papers as well as from our centre’s own material to prepare them for the new syllabus. Every answer is critiqued by the teacher. Focus is placed on use of appropriate terminology as well as graphs and Economic models.
So, in a nutshell, Student’s Inn aims to:
- Enhance understanding of key economic terms and concepts
- Increase ability to formulate and articulate answers to economic questions
- Impart techniques to successfully analyse economic data and discuss it eloquently
- Improve score by focusing on frequently tested questions and concepts and by enhancing the ability to use graphs and models in structured and free response questions
- Create and sustain interest in the subject by showing application of concepts taught in class to real life situations
We also help our students with Internal assessment (Economics Commentaries) and Extended essays. Contact us now to schedule a class.