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Ib economics11/10/2023 ![]() examining the concepts and values used in political analysis.explaining the processes that maintain or change those systems.the choices that political systems must regularly make.You will gain the necessary frameworks for thinking about political and philosophical issues, combined with the quantitative skills for answering political and economic questions. You will be able to pursue a variety of career paths after graduation. This programme will equip you with the key skills to engage with the political, philosophical and economic debates of the day. Politics, Philosophy and Economics (PPE) examines different interdisciplinary perspectives on many of the pressing issues of the modern world. You can also take a look at our IB Economics study guides which contain comprehensive review of the Economics syllabus, lots of practice questions, and numerous examples of economic principles to make sure you are exam ready.Introducing MA Politics, Philosophy and Economics Doing so will make your IB exam preparation process easier and will help you earn the marks you deserve in your IB Economics exams.įinally, don't forget to bookmark our IB Economics subject page where you'll find more articles to help you with your exam revision. Whatever method you choose, be sure to stay organised and revisit the examples you collect throughout your study process. If spreadsheets aren't your thing, consider keeping a notebook divided into different economic concepts and writing your ideas, examples, and sources there for reference during your revision process. Start a spreadsheet that categorises the examples allowing you to filter for the economic concept you are investigating and link to articles that delve further into the idea. Bear in mind, all of the above also show how different parts of the micro economy are interrelated with a change in one market having an impact on the markets for substitutes and complements.Īs you move forward with your IB Economics studies, consider keeping track of the real world economics examples that you find. Hopefully, the above will have sparked your curiosity and inspired your own ideas about how the Covid-19 pandemic impacts microeconomics. Impact of the coronavirus pandemic on the global economy - Statistics & Facts by Statista Research Department, November 20, 2020, Statista The Covid-19 changes that could lasst long-term by Lewis Dartnell, June 30, 2020, BBC To delve deeper into the topics identified above and to discover additional areas for thought read the following articles: Long run effects could include a reduced demand for cars and especially those that use fossil fuels, a reduced demand for fossil fuels as well as a greater sensitivity of governments to problems of environmental degradation and sustainability. There are other knock on effects of this such as increased popularity of online education and teaching which also reduce travelling requirements. This in turn is likely to lead to decreased demand for office space and transportation in the future as working from home will become more widespread. Other important micro examples are the increased incidence of people working from home and the corresponding increase in demand for online platforms such as Zoom. This also highlights the contribution of carbon and other emissions to the market failure of pollution. The imposition of lockdowns in many countries greatly reduced traffic and industrial production which had a negative effect on the economy but it also had a striking effect on the quality of the atmosphere in many cities such as New Delhi and Bangkok which were temporarily cleared of smog. If the pharmaceutical industry was perfectly competitive it is very unlikely that any vaccines would have been developed. The rush to find a suitable vaccine and the funding necessary for this is a good example of the importance of Research and Development (R&D) and the fact that only large scale pharmaceutical companies are able to engage in the necessary R&D.įor Moderna, the vaccine that it developed was the only success that it had and justifies its ability to patent the product in order to secure further profit. ![]()
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