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Economics real world examples and extension material

The objective

The aim of this section of the textbook is to develop student knowledge and understanding of real-world examples which are a crucial part of Higher Level and Standard Level Paper 1. The case examples in this section draw on economic current real-world examples that are topical and interesting - all relate to macroeconomics.

This section also allows students to take different aspects of the IB Economics course, and develop them further and fully explore economic theories, ideas and issues. Whilst the aim of the extension material is to broaden and enrich students their improved understanding of the material in the course will also help their examination performance. The extension material can also be used to support students who are looking to do Economics and related subjects at University.

Direct links to the pages in this section can be accessed at: 

Measuring economic well-being

In his book, An Economist’s Lessons on Happiness: Farewell Dismal Science! (2021) Professor Richard Easterlin explains how personal happiness can be measured along with ways of improving people’s...

Inflation

The US rate of inflation reached 7 per cent on Thursday 13 January – the highest it has been for 40 years. From a low of 1.4 per cent in January 2021 the US inflation rate has increased each month this...

Inequality

Could Elon Musk become the world’s first trillionaire?It is very difficult to keep track of the wealth of the world’s richest people, but the planet’s wealthiest entrepreneurs seem to be getting...

Inequity

textZambian born economist, Dambias Moyo started out with an undergraduate degree in Chemistry, and went on to do an MBA at the American University in Washington DC, an MPA at Harvard University and a...