Rodrigo Telles's List: IB Curriculum first 2013 - SECTION 1 - MICROECONOMICS

• Resources for a new syllabus in IB Economics

  • Review of new resources/books for IB Economics

• IB Economics – new curriculum – The changes to assessment

  • Explanation of new curriculum with IA and Command Terms

• Assessment objectives in practice

• There are four assessment objectives (AOs) for the SL and HL economics course.

  • Description of assessment and command terms

• • New topics for new Economics syllabus
    

• • Calculate the equilibrium price and equilibrium quantity from linear demand and supply functions.

     
   
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    Plot demand and supply curves from linear functions, and identify the equilibrium price and equilibrium quantity.

     
   
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    State the quantity of excess demand or excess supply in the above diagrams.

  • New topics for the new curriculum

• Theory of knowledge: potential connections 

   

  To what extent is it true to say that a demand curve is a fictional entity?

   

  What assumptions underlie the law of demand? Are these assumptions likely to be true? Does it matter if these asssumptions are actually false?
• Plot demand and supply curves for a product from linear functions and then illustrate and/or calculate the effects of the imposition of a specific tax on the market (on price, quantity, consumer expenditure, producer revenue, government revenue, consumer surplus and producer surplus).

  • New topics for the new curriculum

• In what sense are we morally obliged to pay taxes? Is this the result of a promise that we have made ourselves? When was this promise made? (Make a distinction here between moral and legal obligations.)

   

  To what extent is government morally obliged to provide healthcare and welfare benefits to the unemployed?
• Calculate total, average and marginal product from a set of data and/or diagrams.
• Distinguish between explicit costs and implicit costs as the two components of economic costs.

  • New topics for the new curriculum
• Calculate total revenue, average revenue and marginal revenue from a set of data and/or diagrams.

  • New topics for the new curriculum
• Explain why a monopolist will never choose to operate on the inelastic portion of its average revenue curve.

  • New topics for the new curriculum
• Draw a diagram illustrating a natural monopoly.

  • New topics for the new curriculum
• Explain why interdependence is responsible for the dilemma faced by oligopolistic firms—whether to compete or to collude.
• Explain how a concentration ratio may be used to identify an oligopoly.
• Explain how a concentration ratio may be used to identify an oligopoly.
• Explain how game theory (the simple prisoner’s dilemma) can illustrate strategic interdependence and the options available to oligopolies.

  • New topics for the new curriculum

  • New topics for the new curriculum

• Theory of knowledge: potential connections 

   

  Is it rational to take into account costs already incurred in deciding whether a business venture should be terminated or whether it should receive more funds?

   

  How can we know how to determine the balance of government policy between promoting competition in the interest of the consumer and allowing profitability in the interest of firms?

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