Year 10 IB Diploma Preparation Course Guide 2023

STRUCTURE Semester 1

Semester 2

Unit 1: Introduction to economics • What is economics? •

Unit 3: The global economy – Exchange rates • Types of exchange rates • Advantages and disadvantages of fixed, floating and managed exchange rates

The economic problem: scarcity

Production Possibilities model

•

The currency exchange market

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• Microeconomic demand and supply model

• Impact of changing exchange rates on standard of living

Unit 2: Macroeconomic Management • Measuring economic activity o GDP o Inflation o Unemployment • The Business Cycle • The circular flow of income model • Macro-economic objectives •

Unit 4: The global economy – trade • Benefits of international trade • Types of trade protection • Arguments for and against trade control/protection

Government policies used to achieve macroeconomic objectives (fiscal policy) Central bank policies used to achieve macroeconomic objectives (monetary policy)

•

ASSESSMENT In Year 10 Econonomics students complete four summative assessments. These summative assessment items mirror the styles of assessment students complete in Year 11 and 12 IB Diploma Economics. Summative assessments Semester 1 Criteria Assessed Semester 2 Criteria Assessed

Assignment – 600 to 800 word economic report related to supply and demand in the housing market. Examination – short response questions based on stimulus

Assignment – 600 to 800 word analytical essay related to the impact of exchange rates on living standards Examination – 1 extended response question based on stimulus

A,B,C, D

A,B,C,D

A,C,D

A,C,D

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