Loading subject…
IB Economics Topic 3. Macroeconomics (SL/HL) covers syllabus content. Use these Notes, Questionbank, Videos, Flashcards, and Lessons to review the topic, practise exam questions, and move between notes, videos, flashcards, and lessons where available.
Practice
Learn
3.1.1 National Income Accounting as a Measure of Economic Activity
3.1.2 Income, Output and Expenditure Approaches to National Income Accounting
3.1.3 Nominal GDP as a Measure of National Output
3.1.4 Nominal GNI as a Measure of National Output
3.1.5 Real GDP and GNI
3.1.6 Real GDP/GNI per Person (per Capita)
3.1.7 Business Cycle
3.1.8 Appropriateness of Using GDP or GNI Statistics
3.1.9 Alternative Measures of Well-Being
3.2.1 Aggregate Demand (AD)
3.2.2 Components of AD
3.2.3 Determinants of AD Components
3.2.4 Shifts of the AD Curve Caused by Changes in Determinants
3.2.5 Short-Run Aggregate Supply (SRAS) Curve
3.2.6 Shifts of the SRAS Curve
3.2.7 Alternative Views of Aggregate Supply (AS)
3.2.8 Shifts of the AS Curve Over the Long-Run
3.2.9 Macroeconomic Equilibrium
3.2.10 Assumptions and Implications of the Monetarist/New Classical and Keynesian Models
3.3.1 Economic Growth
3.3.2 Consequences of Economic Growth
3.3.3 Low Unemployment
3.3.4 Low and Stable Rate of Inflation
3.3.5 Relative Costs of Unemployment Versus Inflation (HL)
3.3.6 Sustainable Level of Government (National) Debt (HL Only)
3.3.7 Potential Conflict Between Macroeconomic Objectives (HL)
3.3.8 High Economic Growth
3.4.1 Relationship Between Equality and Equity
3.4.2 The Meaning of Economic Inequality
3.4.3 Measuring Economic Inequality
3.4.4 Meaning of Poverty
3.4.5 Measuring Poverty
3.4.6 Difficulties in Measuring Poverty
3.4.7 Causes of Economic Inequality and Poverty
3.4.8 Impact of Income and Wealth Inequality
3.4.9 Role of Taxation in Reducing Poverty, Income and Wealth Inequality (HL)
3.4.10 Further Policies to Reduce Poverty, Income and Wealth Inequality
3.5.1 Monetary Policy
3.5.2 Goals of Monetary Policy
3.5.3 The Process of Money Creation by Commercial Banks (HL Only)
3.5.4 Tools of Monetary Policy (HL Only)
3.5.5 Demand and Supply of Money (HL Only)
3.5.6 Real Versus Nominal Interest Rates
3.5.7 Expansionary and Contractionary Monetary Policies to Close Deflationary/Recessionary and Inflationary Gaps
3.5.8 Effectiveness of Monetary Policy