1. Introduction to Economics
2. Microeconomics
2.1 Demand
2.2 Supply
2.3 Competitive Market Equilibrium
2.4 Critique of the maximizing behaviour of consumers and producers (HL only)
2.5 Elasticities of demand
2.6 Elasticity of supply
2.7 Role of government in microeconomics
2.8 Market failure - externalities, common pool resources, public goods, asymmetric information
2.9 Market failure - public goods
2.10 Market Failure - asymmetric information (HL only)
2.11 Market failure - market power (HL only)
2.12 The market’s inability to achieve equity (HL only)
3. Macroeconomics
4. The Global Economy
View a summary cheatsheet for 2.5 Elasticities of demand
2.5.1 Concept of elasticity
2.5.2 Price elasticity of demand (PED)
2.5.3 Importance of PED for firms and government decision making
2.5.4 Why PED for primary commodities is generally lower than manufactured products (HL only)
2.5.5 Income elasticity of demand (YED)
2.5.6 Importance of YED (HL only)
