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International Baccalaureate: Economics

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  • Peer Reviewed essays 1
  1. The structure of the EU budget and its allocation

    X - European External Action Service The vast majority - 95% of the EU budget - goes to fund concrete activities on the ground in the many areas of EU policy. This expenditure ("operational appropriations") is paid out by the Commission (Section III). However, section III also includes a small amount of administrative expenditure necessary for the Commission to function. All the other sections of the budget deal solely with the administrative expenditure of the institutions. ESTABLISHING THE INITIAL BUDGET Budgetary procedure 2010 The Commission adopted the Preliminary Draft Budget for 2010 on 29 April 2009.

    • Word count: 3479
  2. Strategic and Operational Performance Assessment at Petrom

    Petrom is an important player in the Romanian gas market, covering all gas market segments. In order to leverage the value of natural gas, management decided to further expand the value chain by developing our power generation business. The company is also a significant player in the Romanian chemical industry, with Doljchim chemical plant being an important contributor to the production of chemical fertilizers and methanol for both the domestic and export market. Industry and competitor analysis Petrom, the largest oil and gas producer in South Eastern Europe, has contracted a three-year credit lie of 375 million euros, the company reports.

    • Word count: 3591
  3. Growth and Development Problem Set - IB Economics exam questions and answers.

    Good governance also insists on transparency, control of corruption and consultative process between government and private interests. Let us provide an example to show the distinctive influence of different governances to economic growth. North and South Korea were both extremely poor in 1950. Between the end of the Korean War and 1980, both countries were dictatorships. Yet South Korean dictators chose capitalism and secured property rights and the economy grew rapidly, reaching per capita income level of US$ 1589 in 1980. In contrast, the North Korean dictator chose socialism and the country only reached the level of income of US$ 768 in 1980.

    • Word count: 5550
  4. Economics Extended Essay - To what extent has the market for paintings in South Bombay been affected by the economic slowdown?

    Theories.........................................15 Conclusion and Limitations...............................16 Appendix........................................................17 Bibliography..................................................20 Introduction: In 2008-2009 India registered a growth of 6.7%, as compared to the 9.0% growth achieved in 2007-2008.1 Thus we can see that the economy of the country was in fact in a slowdown. The lower growth meant that people's income was less than what they had expected. People will not want to spend money on a good that has no use other than as an object of appreciation as they do not have as much income as they expected to have.

    • Word count: 4864
  5. Owen & minor Inc

    aggressive come l'ABP, potrebbero scoraggiare(togliere) i clienti e nutrire i concorrenti. Ci sono ostacoli interni inerenti all'applicazione dell'ABP. Gli ospedali devono rivedere(riordinare) le strutture organizzative per adattarsi al nuovo sistema dell'ABP, inoltre devono ridisporre i dipendenti e riallocare le strutture aumentando la fiducia nel sistema dell'ABP. Inoltre � necessaria una notevole quantit� di investimenti per creare il sistema di EDI. Per superare questi ostacoli bisogna rendere l'ABP regolare(liscio) ma questa � una grande sfida. Per illustrare il metodo di ABP in modo pi� chiaro, dobbiamo usare una matrice dei prezzi basata sul questo metodo.

    • Word count: 3902
  6. Macro Economics Notes

    Expenditure Method This is calculated by adding up all the goods and services sold in a country and is divided into consumer expenditure ( C ), public expenditure (G), Fixed Capital formulation / Investment (I). You then add this figure to exports (X) and take away imports (M). You then take off sales taxes and add on subsidies so that you are measuring the real value of goods and services in the country. To get Gross Domestic Expenditure. Income method This is calculated by adding up all the rewards from each of the factors of production i.e Income from employment (labour), profit (entrepeneurship), interest received (capital)

    • Word count: 3633
  7. Mutual Funds vs ETFs

    It is the combination of index fund and close ended fund. Exchange trade system is more efficient than mutual fund system because it is easy to trade on fewer expanses and trade does not have time limits, buying and selling can be performed in same day. "ETFs have very low expense ratios, are traded intraday and are purchased from the secondary market through a broker who receives a commission". (Rogers 108) History The idea of joint or combined investment is centuries old even when there was no concept of currency. This fashion of mutual investment was started by the merchants particularly in Europe.

    • Word count: 3824
  8. Old IB Questions

    The perfectly competitive industry is economically efficient because the sum of consumer and producer surplus is maximum. In monopoly, this condition no longer holds, and the industry is therefore inefficient. This can be seen in the graph above. In panel (a), triangle A represents consumer surplus, while triangle B is producer surplus. Panel (b) shows the inefficiencies that result in monopoly. Note the following: * Triangle C, representing surplus in monopoly, is smaller than triangle A in perfect competition. There are two reasons for this. One is that the higher price of the monopolist (Pm rather than Ppc)

    • Word count: 4081
  9. Fair Trade

    History As mentioned before the Malaysian people were subject to foreign colonization during the late 18th and 19th centuries. It was dominantly Great Britain that established colonies and protectorates in the area of present day Malaysia in their constant strive to cement their reputable status as a world power. These colonies were subsequently occupied by Japan from 1942 to 1945 during the Second World War, only to be retained by Britain after Allied liberation in the closing stages of WWII. Following this the British-ruled territories on the Malay Peninsula formed the Federation of Malaya, and became independent in 1957.

    • Word count: 3411
  10. Extended Essay

    Liberalisation is not the answer for it, because domestic firms cannot to build new pipelines without state or international support. The Hungarian natural gas market reforms provided by the government would be likely to solve at least some of the existing problems and provide some short-term solutions. In political terms the reforms would be a failure because they do not lead to a decrease in price which is deserved by the nation. It doesn't, however, answer for the problem which is that of the one sided energy dependence.

    • Word count: 8487
  11. Economics Assignment

    The governments have become a lot more leneant alowing following investers in, in order to stabilize the economies, by diversifying into new areas. This constancy is also significantly thanks to better allocation of resources, and leaving less for chance on oil prices and more on growth and investment that is being seen. The state control can also prove a problem because the regions currencies remain weak, thanks to bad and inefficient economies. This is because the governments often converts dollars to local money as they receive it, this bad balance of payment means leaving currencies not capable to reform.

    • Word count: 5798
  12. Equal rights for women in labour market in Lithuania

    Work Count: 279 Introduction Human rights are international norms that protect people from being politically, socially or legally abused and refer to such basic principles to which all people are entitled as liberty, freedom of expression, equality before the law and other social, cultural and economic rights. Gender equality is one of the most important parts of human rights. It is also one of the most significant and valued principles of democratic society. Gender equality is associated with equal presentation, positioning in the social hierarchy, possibilities and responsibilities for both, men and women, alike.1 It is also amplified that equal

    • Word count: 5426
  13. Extended Essay Economics

    The exchange rate on the black market is primarily determined by the bond market. A government bond is considered to be the most secure investment in Venezuela. The government owes the holder a debt and is obliged to repay the principal and interest at a later date. When the Venezuelan government sells bonds, the money used to buy the bonds is being removed from the economy. This decrease in the money supply will increase the value of the Bolivar on the parallel market. Conversely, the money supply would increase if the government were to buy bonds on the open market.

    • Word count: 3837
  14. Markets and Price Determination

    Utility = the amount of satisfaction obtained from consuming a product. Marginal utility = the amount of extra satisfaction obtained from consuming an extra unit of a product. As the consumer consumes more of a product, the marginal utility obtained from it falls (diminishing marginal utility). This makes good sense: you will always enjoy your first bar of chocolate. But as you eat a second and third bar your enjoyment falls (i.e. diminishes), until you reach a sixth or seventh bar - by which time you will probably hate chocolate! Rational consumers aim to maximise the utility they get from spending their money, so the price they pay for a unit of a product is no more than the marginal utility they obtain from that unit.

    • Word count: 3295
  15. What is the impact of the Notional Interest Tax Deduction system on investments in Belgium?

    Even though Belgium has other factors that it can offer in order to increase investments, the introduction of the NITDS has seen a positive outcome on the economy and the country as a whole. Largely, the research carried out in my Extended Essay suggests that other countries should adopt this tax system in order to lure investors into their country so that they can ensure that they remain competitive internationally. Word Count: 294 Words 2. Acknowledgements I would like to thank my Extended Essay supervisor and teacher, Mr Ian Hibbert for his assistance and guidance.

    • Word count: 5252
  16. Economics HL - IA

    According to the law of demand, which states that the price and demand are inversely proportional, the quantity demanded by the Japanese falls when the price of chopsticks rises. Broken down into simpler terms, the Japanese consumers and importers are now less willing and able to afford the given product, and thereby respond by demanding a smaller quantity. Indeed China has a monopoly in the Japanese chopstick market, accounting for almost 98% of the market share. However, a few close substitutes do exist. These include Vietnamese and Japanese produced chopsticks. It is in human nature always to pursue one's self-interest.

    • Word count: 4049
  17. feasibily studies

    Special thanks to: > Our TLE teacher, Ms. Joan Samonte, who gave us advice and moral support. > The panel for grading our feasibility defense. > The people who gave us some ideas in conceptualizing this study. > The people who took the survey, for giving us some their time. > Our parents, for helping and guiding us throughout the study. > The Bookstore assistant for the reproduction of the copy of our survey. > The little but useful means of information like Yahoo!, and Wikipedia. > And lastly, to the stressed community, for who in the first place we decided to be of assistance to them.

    • Word count: 6096
  18. Role of ICT for "Make in India" government initiative.

    Narendra Modi * Number of sectors : 25 * Investment Proposals received : INR 2000 crore (till Oct 9th,2014) * ?MAKE IN INDIA? campaign is dedicated to patriot, a great philosopher and political leader Pandit Deen Dayal Upadhyaya who was born on the same date in 1916 Information and Communication Technology: ICT can be broadly viewed under two sectors, Information Technology ( IT ) and Communication. It refers to technology that gains access to information via telecommunications. ICT includes various communication mediums like Internet, wireless networks, Mobile phones etc. Modern Information and Communication technology has constructed a ?Global Village? where people all around the world can communicate with each other as if they were living next door.

    • Word count: 5668
  19. Explain how interdependence and uncertainty affect the behavior of firms in the oligopolistic market

    This means that the firms have to predict each other?s decisions and reactions to any circumstances in the market in order to be more competitive. The oligopoly concept is best defined as the complex behaviour of the firms inside the market. There is no single theory of price and output under conditions of oligopoly. Hereby are meant price wars, where oligopolists may choose to produce and price much with the consequence of a highly competitive industry or they will act together in cartels to become sort of monopoly.

    • Word count: 3699
  20. Is there possibilities of war for resources?

    That population is around the population combined of Africa, North America and Europe. Naturally all these people will want phones, fridges, cars, washing machines, food and place for living. 2.000 new cars already join Beijing?s streets every day. In 2010 China had 40 cities of populations of more than a million, by 2020 it plans to have additional 225 cities. The implications for world?s commodity resources are stark and sobering: global demand for food and water is expected to increase by 50% and 30% respectively by 2030, the pressure on lead, zinc, cooper and corn is already becoming unsustainable and no one has a clue where the where the energy we?ll need is going to come from.

    • Word count: 3016
  21. 15 Historical Economic Questions on Mercatilism and the Development of European Countries.

    Prior to the seizure of Antwerp was the existence of Antwerp?s stock exchange otherwise known as a bourse. Five years after the influx of Antwerp?s merchants was the birth of The Bank of Amsterdam. Established in 1609, The Bank of Amsterdam was between the first if not the first true central bank. The newfound financial institution allowed Amsterdam to become the financial powerhouse of the globe. The flow of capital was an incentive for the people of Amsterdam to invest in the lucrative business ventures that made their country so wealthy in the first place. As a result of war, weather, and other uncertainties, the maritime ventures that the Dutch Republic were reaping profits through was seen as relatively risky.

    • Word count: 11065

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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