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International Baccalaureate: Economics

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  • Peer Reviewed essays 1
  1. Human Research Management - Southwest Airlines

    In return, their culture (influenced by their managerial philosophy, vision and type of organization) motivates people to ensure the Company's success. SWA has a soft HR management strategy approach - employees are the most valuable Company's asset and its competitive edge (metaphorically, the "heartbeat" of business functioning). The fundamental business strategy of SWA and the spirit of their people have never been changed throughout the years. SWA' business strategy is defined by low cost leadership (low fares, low labour costs, fuel efficiency, controlled maintenance costs, low commissions, competitive supplies, economies of scale, ...), but by service excellence and customer loyalty too, as well as by employees' flexibility, supported and implemented through corresponding HR policy and practice.

    • Word count: 2452
  2. The future of Eli Lilly

    Problem statement The future of Eli Lilly Ranbaxy and its partners are uncertain as the Indian market has changed. Therefore it is important for Eli Lilly to consider its current position. This report will try to help creating the best possibilities for Eli Lilly and its overseas activities. So that Eli Lilly will have a bright future. But first it is important to look at the past, in order to make the right strategic decision in the current situation. This is done by answering the following questions: - Was the Joint Venture decision the right decision? - How has time changed the basis of the Joint Venture? - Is a Joint Venture the right solution now, considering these changes?

    • Word count: 2121
  3. The role of MNC headquarter

    Multinational corporations have offices, branches or manufacturing plants in different countries, but all of these are referring to headquarters. The reason for this is that Multinational Corporations produce where it is cheapest, sell where it is most profitable and are getting capital from where it is cheapest. Several states that the multinational corporation is not a new thing, using the far-reaching trade routes documents that the multinational corporation easily could be over 2000 years old. The two most important factors for the increased globalization and thereby multinational corporations are transportation and communication.

    • Word count: 2541
  4. The luxembourg Economy (Complete Review)

    The Luxembourg government has maintained a high level of regulation and intervention attempting to uphold strong economic growth. Its administration and financial regulators have employed an array of effective long term and short term strategies comparable to the Monetary and Fiscal policies. Luxembourg- Quality of life and Social indicators Economic growth is defined as an increase in the productive capacity, and there for output of a nation. Despite having a moderately a small economy with a relatively undersized labour force Luxembourg has been able to achieve and sustain rapid growth over the past ten to fifteen years.

    • Word count: 2194
  5. The Economics of Housing. Factors affecting prices and demand.

    It means when the price of a good increases, the quantity demanded will fall. So demand is the function of price. When someone demand something that means that person want to buy it and he/she can afford it." The quantity demanded of a good or service is the amount that consumers plan to buy during a given time period at a particular price."(Michael Perkin, 8th edition, page 61) The following graph shows the demand curve: Q Where D = f (P) P falls, D increases, vice versa, other things remaining the same. The main factors that change in demand are: 1.

    • Word count: 2813
  6. LDC Essay Economics Aid

    Growth is obviously a good thing. This is the set view of economic growth, as it tends to be treated as the main "stepping stone" of economic policy for both developed and developing countries. However, it may not always be supreme. Possible costs and consequences of growth can include the following key aspects. The major problems have been required to be defeated by following the model of sustainable development; "economic growth that can continue over the long-term without non-renewable resources being used up"1, which many economies now aims for.

    • Word count: 2104
  7. LDC Essay Economics Barriers to Growth

    At the outset, The Harrod-Domar model is unavoidably named after two 19th century economists, Sir Roy F. Harrod and Evsey Domar, who were working in the l930s. The model identifies the rate of growth for an economy through time that allows savings-investment equilibrium to be maintained. This is known as the "warranted" rate of growth.1 The two innovative economists consequently solidified their model majorly on the foundation of investment, savings and technology as the main agents of economic growth. Purely summarized, the more an economy can save and invest, the higher will be its own fiscal growth.

    • Word count: 2123
  8. case study economics

    Examples for such goods are roads, streetlights, education, public libraries etc. NHS (National Health Service) is a public good and government organization. It is a service that is 'free at the point of delivery' because society pays for it indirectly through taxes. The NHS provides free healthcare to society, this is especially beneficial for the low income group sector of society thus making it a public good. The demand for this service is high, as healthcare is very expensive in the private sector. As the law of demand states that when the prices increase demand decreases.

    • Word count: 2167
  9. The Economic Problem andEconomic Systems

    Example of opportunity cost On a hot afternoon, a student spends �1.00 on an ice cream. The opportunity cost of this choice is having to walk home as the bus fare is the next best alternative use for the money. Economic Decision Making There are three main resource allocation decisions/choices arising from the economic problem of scarcity. * What to produce? - The consumption decision * How to produce? - The production decision * For whom to produce? - The distribution decision In economics, decisions/choices are made with two criteria in mind. Rational behaviour = people will behave in a logical or reasoned way.

    • Word count: 2734
  10. competency mapping

    Every well-managed firm should: have well-defined roles and list of competencies required to perform each role effectively. Such list should be used for recruitment, performance management, promotions, placement and training needs identification. The competency framework serves as the bedrock for all HR applications. As a result of competency mapping, all the HR processes like talent induction, management development, appraisals and training yield much better results. History of Competencies A team of Educationists lead by Benjamin Bloom in the USA in mid fifties laid the foundation for identifying educational objectives and there by defining the knowledge attitudes and skills needed to be developed in education.

    • Word count: 2608
  11. Allocation of Resources

    So firms have to establish the price fairly, and make no more than a normal profit. Firms aim to gain profit, so instead of maximizing their profits to gain supernormal profits, they try to cut costs by utilizing as minimum resources at the same time producing the maximum possible output with those resources. Demand curves can shift according to the price of complimentary or substitute good, the income of the population, and taste changes. Supply curves can shift according to price of producer substitutes, price of factor of production, government interference of indirect taxes or subsidies, technological improvements, and natural disasters.

    • Word count: 2731
  12. Economics Essay on Supply and Demand and the operation of markets.

    Movement along a demand curve: Considering the fact that two changes can occur, there are two possible ways of demonstrating this. Differences of the movement along a demand curve and the shift of the demand curve consists of two different changes, thus judging from the diagram below this example indicates the movement along a demand curve. A movement along a demand curve is the change in demand due to change in price, however the separation between the movement along the demand curve and the shift in the demand curve is how the shift in the demand curve changes due to income and other products.

    • Word count: 2537
  13. What has happened to Canada's demographic over the past 50 years? What are the effects on employment?

    I: Changes in the age structure of the Canadian population Proportionally More Seniors than Children Toward 2015 ________________ As seen in the graph (see Fig. II), the percentage of people aged 15-64 is quite high, as it represents the youth and adults of the population. However, the percentage of people aged 0-14 years is slowly decreasing, due to the aforementioned decrease in fertility of Canadians. The dotted lines represent projections, and through the projections it can be predicted that the percentage of the elderly will exceed that of the young, and will eventually be almost double the value. Fig.

    • Word count: 2574
  14. The Benefits of Microcredit to Bangladesh

    A few of these banks do lend extensively to rural areas most don?t even look at the rural areas of the country for lending money. But the poor people do not get access to formal financial institutions due to the lack of physical collateral. Unlike other countries, Bangladesh does not a have a proper substructure of small banks operating at a local level, and thus a strong structure NGO microfinance sector had been developed in Bangladesh. These MFIs have been able to reach the poor with collateral-free loans at affordable costs and can thus help the poor become self-employed.

    • Word count: 2083

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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