Micro & macroeconomics revision IB/A-level

This resource contains questions and answers on the core knowledge (diagrams, definitions, explanations) required for both micro and macroeconomics at IBDP HL/SL. The focus is on content required for Paper 1. This resource can also be used for A level.

This resource contains all the key diagrams and key terms required for the exam.

The question booklet is 43 pages. The answer booklet is 45 pages. Both booklets are in Word and therefore are fully editable.

Topics included:

• Demand and supply (shifts, determinants, consumer and producer surplus)
• Elasticities (PED, YED, XED, PES)
• Market failure (externalities, public goods, common access resources, asymmetric information)
• Government intervention (price controls, indirect taxes, subsidies, pollution permits, regulation, advertising, direct provision)
• Theory of the firm (costs, revenue, profit)
• Market structures (perfect competition, monopoly, oligopoly, monopolistic competition)
• National income & the circular flow
• AD/AS (shifts, determinants, new-classical and Keynesian models, multiplier effect)
• Macroeconomic objectives (Economic growth, unemployment, inflation, equity in the distribution of income, Phillips curve)
• Policies (Fiscal policy, monetary policy, supply side policies)

This resource will allow students to work independently to revise each of these topics and achieve exam success!