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International Baccalaureate: Economics

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  • Peer Reviewed essays 1
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  1. Why do political questions so often boil down to economic issues? Is it healthy?

    Corporations are big powerful companies which took over the government and are governed by their own rights. On the one hand these corporations fill the market with products, which are supposed to fulfill our human needs. In fact they produce more goods than a man needs. On the other hand the corporations are tyrants that do not care about human beings but only about their own interests. My question is : "Why do the large corporations mainly produce goods in the east, and why do they employ young children?

    • Word count: 1065
  2. Smoking in the UK - economic analysis of its costs.

    Raising tobacco prices through taxation can result in significant benefits to the economy. For instance, a 5% price increase would result in 190,000 fewer smokers and increase government revenue by �520 million per year in the first five years. As can be seen in figure 1, the numbers show that between 1991 and 2001 the retail price of cigarettes increased by about 80% in real terms. This is explained to a large extent by tax increases; over the same period the proportion of tax in the retail price rose from 73% to 80%.

    • Word count: 1574
  3. Economics IA Commentary - Protectionism. Title of Extract: China Expands Export Quotas with New Rare-Earths Policy

    Sources told Dow Jones Newswires earlier that China Nonferrous Metal Mining Group and China Min metals will be in the lead. China, which supplies around 95 per cent of the world's rare earth metals, has been tightening its control over the sector by raising the threshold for entry, imposing stricter environmental standards and slashing export quotas. First-half 2011 quotas total 14,508 tonnes, down about 35 per cent from the same period last year, according to the Ministry of Commerce. These measures have boosted rare earth prices and made export quotas much more valuable.

    • Word count: 1657
  4. Economics IA Commentary - Market Failure. Household energy bills will increase by 50 as the impact of green taxes triples over a decade, new research shows. By James Kirkup,

    Household energy bills are increased by a number of Government environmental policies, including the Renewables Obligation and other levies applied to energy usage to fund low-carbon power generation. Energy companies also face charges for schemes including the European Union's Emissions Trading Scheme, costs which are then passed on to customers. "Green" levies are meant to increase the price of carbon-emitting energy use, with the aim of funding alternative sources and encouraging consumers to change their behavior. Much of the money raised by such levies does not end up with the Treasury, but "green taxes" are regarded with suspicion by some consumers, who regard them as a disguised revenue-raising measure.

    • Word count: 1314
  5. An analysis of why economic sanctions are good

    But the aff shall prevail if, and only if he can prove otherwise...... C1: Smart economic sanctions are needed to compel foreign leaders. The resolution calls for a general ban on economic sanctions in dealing with foreign policy objectives. One of the foremost arguments against sanctions is the harm they may potentially bring. But these potential harms are mostly caused the imposition of broad, wide-ranging sanctions. But not all sanctions are harmful- there are good sanctions. The sanctions in the 21st century are targeted and narrow, not general. One of the common criticisms of economic sanctions is that they have injured civilian populations in the past.

    • Word count: 1500
  6. An analysis of Why Economic Sanctions are bad. Quotes and argument.

    (businessdictionary.com) Ought- used to express obligation. Foreign Policy- the policy of a sovereign state in its interaction with other sovereign states. Objectives- : an aim, goal, or end of action. (In case of argumentation relating to resolve not confined to U.S.A) Sovereign- one that exercises supreme authority within a limited sphere. All unspecified definitions are from Merriam Webster Core Value: Morality Value Criterion- Kant's Categorical Imperative, which is the moral principle that behavior should be determined by duty. Kant argued that morality is a standard that applies to the intentions behind an action.

    • Word count: 1554
  7. What is Economics? What do Economists do?

    Since your time is scarce you have to choose how to spend it. The money you own is scarce. You have to choose how to spend it. When you choose something it means that you have to give up, or forgo other things. � It is time to introduce a key economic concept, the concept of opportunity cost. � Any time you make choice, you give up other choices. � This act of giving up the other choices carries a cost with it - you have lost the value to you of the other choices.

    • Word count: 1563
  8. Is it possible to reduce unemployment without increasing inflation

    In the case of inflation and unemployment, the policies to reduce them are well summarized by the Keynesian versus monetarist respective approaches. The monetarist approach views unemployment, in the long term, as an anomaly in the functioning of the labour market. As for any other market, monetarists will argue that unemployment is just an excess of supply of labour over the demand for it, at the prevailing wages. This should be a temporary phenomenon, only expected in the short-term unless there is a malfunctioning of the labour market.

    • Word count: 1527
  9. Why might a given increase in real GDP not accurately reflect an increase in living standards?

    The reported growth in real GDP largely depends on the government and the accuracy of their statistics and calculations and even if a government is extremely careful in their data collection and calculations, there will be economic activity that will not be measured. Shadow economies, also known as underground economies or black markets, are extremely prominent especially in countries in which production taxes are high. Markets in these economies do not declare their economic output usually either to avoid being taxed or because its goods have been banned.

    • Word count: 1151
  10. Economics Notes. Elasticity of Demand and Supply.

    Change in price leads to equal and opposite change in demand. Change in price of product leads to proportionally smaller change in quantity demanded. Change in price of product leads to proportionally greater change in quantity demanded. - If a firm has inelastic demand for its product and wishes to increase total revenue, it should raise the price of its product. - If a firm has elastic demand for its product and wishes to increase total revenue, it should not raise the price of its product. - In unitary elastic demand: the revenue does not change since there is proportional increase and decrease.

    • Word count: 1149
  11. Economics Commentary - Russian Quota on US Pork and Indian Government Tax on cars.

    What could be potentially seen is an increased loss of world efficiency as the domestic producers would produce pork for higher minimum revenue than the American producers. Furthermore, QD3-QD2 tonnes of pork are not now consumed (150,000 tonnes) and this is a reduction in the consumer surplus, which is the extra utility gained by consumers from paying a price that is lower than that which they are prepared to pay. However, there are advantages to the quota for domestic producers.

    • Word count: 1452
  12. Assess the impact of a run on the dollar and a US recession on the EU Economy

    Y = C + S + T - Personal Income Y = C + I + G + (X-M) - Open Economy GDP/AD/Y = C + I + G + (X - M) = C + S + T I + G + (X - M) = S + T (G - T) (X - M) = S + T (G - T) Budget Balance = (S - I) + (M - X) Balance of Payments Balance If the government runs a budget deficit (which it has since 1970)

    • Word count: 1486
  13. Free essay

    Economic Article Commentary - The five biggest supermarkets in the UK are accused of conspiracy with five dairy processors to fix the prices of milk, butter and cheese.

    I think this article is good for just giving general information but if you want to know every b****y detail I wouldn't recommend this article. I think the connection between this article- the lectures Macro Economics & Law- and the literature I have read for the course is that the government is not only intervening through maximum prices and minimum prices, it is also intervening through forbidding any price conspiracy that will harm the consumers. So this is actually an example of government intervention in the UK.

    • Word count: 1673
  14. Strategic Business Management - Cadbury

    His original focus was on the trade of tea and coffee in United Kingdom, but soon he spotted a new opportunity in cocoa beverages and laid the foundations for Cadbury's move into chocolate and then confectionery. Today, it's brands include many global, regional and local favourites including Cadbury Dairy Milk, Flake, Cr�me Egg and Green & Black's in chocolate; Trident, Dentyne, Hollywood and Bubbaloo in gum; and Halls, Cadbury �clairs, Bassett's and The Natural Confectionery Co. in candy. Cadbury invest in its most advantaged brands which today generate approximately half our total revenues and have significantly higher profitability than the confectionary portfolio as a whole.

    • Word count: 1986
  15. Why might an increase in real GDP not accurately reflect a real increase in living standards?

    and net exports (X - M). Y = FCE + GCF (X-M) In this essay, I will examine the function of the GDP, of which its aims will be focused on, and then I will proceed to weigh the incompetence of the GDP in truly reflecting the socio-economic areas of society. It will be argued that the focus of today's debate, the relationship between the GDP and living standards in society is reflective upon the idea of growth vs. development. Where they are conceptually different, growth is GDP and is quantifiable, as a monetary output value; however, development is qualitative and cannot be equated with the GDP.

    • Word count: 1098
  16. China Inflation and GDP Growth

    Asia's Week Ahead: China inflation This week in Asia, China announces inflation and economic growth figures, and Australian mining giants release quarterly reports. MarketWatch's Chris Oliver reports. Such an inflation rate, Yao said, would be below the average annual CPI gain of 5.6% during the last 30 years. He added that inflation of 3% to 5% was normal for China, and largely insignificant so long as the overall economy continued to expand by around 10% a year. Still, Yao's comments seemed to indicate China's outlook was similar to those of other BRIC economies - which include Brazil, Russia and India - as they too face headwinds from higher inflation and easing growth rates in the years ahead.

    • Word count: 1237
  17. Unemployment IA

    It was the first drop in the unemployment rate since it dipped to 7.95 percent in second quarter of 2007, its lowest level since the country returned to democracy following the death of dictator Francisco Franco in 1975. The institute will publish fourth quarter unemployment figures on Jan. 28. Last month Zapatero's Socialist government announced it was scrapping a 426-euro ($568) per month subsidy for the long-term unemployed as part of austerity measures to slash the public deficit and ease fears that it will need an E.U.

    • Word count: 1067
  18. Korean War

    1.0 �C) * Amper�metro (? 0.001V) * Placa de Hierro * Caimanes * Hielos * Placa de Aluminio * Placa de Cobre * Placa de Plomo * Bata de Laboratorio * Guantes Aislantes * Bandeja Met�lica * Pinzas Medidas de Seguridad Guantes Aislantes: Para evitar alg�n tipo de quemaduras en la manipulaci�n de los metales calentados. Bata de Laboratorio: Indispensable en cualquier trabajo pr�ctico de tal forma que se eviten accidentes a la persona del investigador. Manejo Responsable de la Corriente: Utilizar voltajes bajos para evitar alg�n tipo de descarga el�ctrica y da�os f�sicos.

    • Word count: 1304
  19. Has the Time Come to Legalize Drugs?

    The left-of-center Party of the Democratic Revolution announced that it supports ``de facto legalization'' of drugs. Fox's statement, first published Saturday in his blog, went far beyond a 2009 joint declaration by former Presidents Fernando Henrique Cardoso of Brazil, Ernesto Zedillo of Mexico and Cesar Gaviria of Colombia. In that statement, the three former leaders questioned the effectiveness of the U.S. war on drugs and proposed de-criminalizing possession of marijuana for personal use. While the three centrist former presidents' proposal amounted to not prosecuting people for consuming marijuana, Fox's proposal calls for legalization of all major drugs -- the whole enchilada.

    • Word count: 1500
  20. Economics Homework- LRAS CURVE AND SRARS CURVE

    This can be shown using the circular flow of income model. If households spend 9/10 of their gross income, then the remaining 1/10 will either be saved or paid to the Government as tax. For instance in stage 1 we can consider �100m flowing into firms, which is distributed out as wages and profits to the households. The households spend the money back on firms and the cycle continues, but each time there are withdrawals of 0.1 lost through savings and taxes. So during the second stage only �90m goes back to the firms and on the third stage �81m, etc.

    • Word count: 1296
  21. Imperial Tobacco predicts 3% revenue rise

    But volumes of cigarettes are expected to fall more than 4 per cent, dragging down "white stick equivalent" volumes - which encompass cigarettes and loose-leaf tobacco - by 3 per cent, from 358.8bn last year. That compares with management expectations in July of a 3.1 per cent decline. The suggestion of a slight improvement in volumes in the fourth quarter provides some succour to shareholders. In March, Imperial's stock tumbled after UBS said earnings growth was set to slow and warned that consensus forecasts for next year looked too high.

    • Word count: 1201
  22. Economics Commentary

    2008: 49% of all Scottish prisoners said they were drunk at the time of their offence ? 2006-07: An estimated 111,200 consultations with GP practices for alcohol misuse ? 2007: 50 million litres of pure alcohol sold in Scotland Source: Scottish Government "This is a problem that cuts across gender, age and socio-economic group and is growing in every part of Scotland. "It's clear that the high alcohol consumption we're now seeing across society has very serious consequences for our health as a nation. We have to look at the evidence of what works in order to get to grips with it."

    • Word count: 1383
  23. Economics Commentary

    The EU's executive arm stressed that its aid was provided on a neutral basis to provide basic humanitarian needs such as shelter, food, clothes, and medical support. In some places, it will also provide clean drinking water and sanitation. All the funds will be channeled to projects by non-governmental relief organizations, specialized UN agencies and the Red Cross/Red Crescent movement. The European Union plans to hold its first ever summit with Pakistan in June to help strengthen the civilian government there.

    • Word count: 1181
  24. Economics Commentary - demand for lactose free milk.

    is principally necessary for the tooth enamel and bone formation. The importance of consuming milk every day is that this is the one of the most important foods in the diet that will develop and maintain healthy some of the important organs from the body which is the teeth, the bones and also for the digestion and immune system due to that milk and its products contain bacteria that help to strengthen it from diseases and other ill pathogens to protect the intestines and the rest of the body against the attack of these sickness providers.

    • Word count: 1014
  25. Accounting Information System

    'The reliability of information in the conceptual framework means that information is free from material error and bias and able to be depended on to represent faithfully the transactions or events that it claims to represent or is reasonably expected to represent.' (Hoggelt et al. 2006, p449) With economic development and the increasing information related to person, relevance and reliability in some level is uniform, while in other areas there may be some contradiction and confrontation. (w**g, 2010) Relevance and reliability are two main qualitative characteristics of accounting information, and they have much in common.

    • Word count: 1013

Economics is a social science which studies how resources are utilised and the production, consumption and transfer of wealth. It looks at how human decision-making affects the relative prosperity of nations and societies and the factors which inform these decisions. As a social science, it relies on scientific methodology, analysis and the fact that it underpins economies makes it relevant on a daily basis. Indeed you will be encouraged to keep a keen eye on the news as many of the theories and topics you will be studying will be exemplified on a regular basis.

The IB course will cover macro-economics: those theories which deal with the economies of countries and the economic decisions of governments. It also covers microeconomics which looks at the variables which affect companies, individuals and markets. Other topics you'll cover are development economics and international economics and a global perspective is a key element of the course.

There are three examinations requiring a variety of techniques including essay writing. Marked by Teachers can help you gain the key skill of writingextended answers with their impressive collection of IB Economics essay examples. There is also internal assessment, which requires a portfolio of commentaries based on topical economic news items.


Conclusion analysis

Good conclusions usually refer back to the question or title and address it directly - for example by using key words from the title.
How well do you think these conclusions address the title or question? Answering these questions should help you find out.

  1. Do they use key words from the title or question?
  2. Do they answer the question directly?
  3. Can you work out the question or title just by reading the conclusion?
  • Evaluate the policies available to a government that wishes to reduce unemployment rate

    "For this essay, I have only compared two policies of structural unemployment as it would not be equal to compare a policy for a type of unemployment (i.e. frictional) then another policy to help another type of unemployment (to seasonal) as the policies are dependent on their respective types. Therefore in conclusion, I think that although the first policy of skills training has its drawbacks, like being effective only in the long run, it does have great benefits in solving structural unemployment, and it does outweigh the second policy, as the negative effects the second policy might have on its people is higher, therefore I think the first policy is a more permanent solution to reducing unemployment."

  • Discuss the proposed introduction of a graduate tax in Scotland

    "In conclusion , we have to accept that graduation tax will be a very smart move if applied as it is going to help the government , the students and also the universities to pass this big economic crisis .During this essay we saw politicians , academics ans also people who represent the students who agreed about this measure and find it really positive and there were also groups such as the Institute of Directors which stated that the negative impact is bigger than the positives .It was also reported from the president of NUS that students will only accept this measure only , if some other changed will take place , such as public funding . 792 Words"

  • Discuss and evaluate the proposition that perfect competition is a more efficient market structure than monopoly.

    "In conclusion, the statement that claims that a perfect competition is more efficient than a monopoly is true. Perfect competition satisfies both methods of measuring efficiency, whereas a monopoly satisfies none, when profit maximizing. In a perfect competition, the consumer and producer surpluses are maximized, meaning Pareto optimality is achieved. Additionally, the lower prices of goods, means that the consumer has more disposable income to buy other goods, yielding a positive externality to third parties. This also aids economic growth. A monopoly often loses incentive to invest in their goods and products due to them being the sole seller of their good. This stalls advancements in technology, and means the PPC does not shift further outwards, stunting economic growth."

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