Flashcards for 3. Macroeconomics - IB
These interactive flashcards help IB Economics students Standard Level (SL) and Higher Level (HL) quickly review and memorize the essential definitions, formulas, and terms needed for success in IB Exams. Each card focuses on 3. Macroeconomics and is aligned with the IB Economics syllabus, ensuring focused revision on microeconomics, macroeconomics, and international trade. Students can test themselves anytime, anywhere, perfect for reinforcing tricky concepts, learning IB terminology, and committing formulas to memory. By using RevisionDojo's flashcards consistently, learners turn repetition into mastery and enter the exam with confidence.
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3.2 Variations in economic activity - aggregate demand and aggregate supply
10 subtopics
3.2.2 Components of AD (consumption)
16 flashcards
3.2.3 Determinants of AD components
19 flashcards
3.2.4 Shifts of the AD curve caused by changes in determinants
18 flashcards
3.2.5 Short-run aggregate supply (SRAS) curve
17 flashcards
3.2.6 Shifts of the SRAS curve
19 flashcards
3.2.7 Alternative views of aggregate supply (AS)
18 flashcards
3.2.8 Shifts of the AS curve over the long-run
18 flashcards
3.2.9 Macroeconomic equilibrium
21 flashcards
3.2.10 Assumptions and implications of the monetarist/new classical and Keynesian models
26 flashcards
3.3 Macroeconomic objectives
8 subtopics
3.3.1 Economic growth
19 flashcards
3.3.2 Consequences of economic growth
17 flashcards
3.3.3 Low unemployment
18 flashcards
3.3.4 Low and stable rate of inflation
20 flashcards
3.3.5 Relative costs of unemployment versus inflation
17 flashcards
3.3.6 Sustainable level of government (national) debt (HL only)
17 flashcards
3.3.8 Potential conflict between macroeconomic objectives
19 flashcards
3.3.9 High economic growth
20 flashcards
3.4 Economics of inequality and poverty
10 subtopics
3.4.2 The meaning of economic inequality
17 flashcards
3.4.3 Measuring economic inequality
17 flashcards
3.4.4 Meaning of poverty
16 flashcards
3.4.5 Measuring poverty
18 flashcards
3.4.6 Difficulties in measuring poverty
10 flashcards
3.4.7 Causes of economic inequality and poverty
20 flashcards
3.4.8 Impact of income and wealth inequality
18 flashcards
3.4.9 Role of taxation in reducing poverty, income and wealth inequalities
21 flashcards
3.4.10 Further policies to reduce poverty, income and wealth inequality
23 flashcards
3.5 Demand management - Monetary policy
8 subtopics
3.5.1 Monetary policy
18 flashcards
3.5.2 Goals of monetary policy
17 flashcards
3.5.3 The process of money creation by commercial banks (HL only)
21 flashcards
3.5.4 Tools of monetary policy (HL only)
17 flashcards
3.5.5 Demand and supply of money (HL only)
17 flashcards
3.5.6 Real versus nominal interest rates
18 flashcards
3.5.7 Expansionary and contractionary monetary policies to close deflationary/recessionary and inflationary gaps
20 flashcards
3.5.8 Effectiveness of monetary policy
20 flashcards
3.6 Demand management - fiscal policy
6 subtopics
3.6.2 Goals of fiscal policy
18 flashcards
3.6.3 Expansionary and contractionary fiscal policies in order to close deflationary/recessionary and inflationary gaps
16 flashcards
3.6.4 Keynesian multiplier (HL only)
18 flashcards
3.6.5 Effectiveness of fiscal policy
16 flashcards
3.6.6 Strengths of fiscal policy
21 flashcards
3.7 Supply side policies
6 subtopics
3.7.1 Goals of supply-side policies
16 flashcards
3.7.2 Market-based policies
17 flashcards
3.7.3 Interventionist policies
17 flashcards
3.7.4 Demand-side effects of supply-side policies
19 flashcards
3.7.5 Supply-side effects of fiscal policies
19 flashcards
3.7.6 Effectiveness of supply-side policies
16 flashcards