Loading subject…

1.1 What Is Economics?

1.2 How Do Economists Approach the World?

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)

3.1 Measuring Economic Activities

3.2 Variations in Economic Activity - Aggregate Demand and Aggregate Supply

3.3 Macroeconomic Objectives

3.4 Economics of Inequality and Poverty

3.5 Demand Management - Monetary Policy

3.6 Demand Management - Fiscal Policy

3.7 Supply Side Policies

4.1 Benefits of International Trade

4.2 Types of Trade Protection

4.3 Arguments For and Against Trade Protection

4.4 Economic Integration

4.5 Exchange Rates

4.6 Balance of Payments

4.7 Sustainable Development

4.8 Measuring Development

4.9 Barriers to Economic Growth and Economic Development

4.10 Economic Growth and Economic Development Strategies

IB Economics 4.5.4 Fixed Exchange Rates Key Definitions

Definition

Devaluation

A deliberate decrease in the value of a currency by the government or central bank within a fixed exchange rate system. It is the fixed-rate counterpart of a depreciation, which happens through the market under a float.

Definition

Fixed Exchange Rate

System where the central bank maintains the currency’s value at a predetermined level rather than letting market forces decide it.

Definition

Revaluation

A deliberate increase in the value of a currency by the government or central bank within a fixed exchange rate system. It is the fixed-rate counterpart of an appreciation, which happens through the market under a float.

IB Economics 4.5.4 Fixed Exchange Rates Key Definitions

Definition

Devaluation

A deliberate decrease in the value of a currency by the government or central bank within a fixed exchange rate system. It is the fixed-rate counterpart of a depreciation, which happens through the market under a float.

Definition

Fixed Exchange Rate

System where the central bank maintains the currency’s value at a predetermined level rather than letting market forces decide it.

Definition

Revaluation

A deliberate increase in the value of a currency by the government or central bank within a fixed exchange rate system. It is the fixed-rate counterpart of an appreciation, which happens through the market under a float.