目錄
1 Demand, supply, and the market equilibrium
Key concepts
The market
Ceteris paribus
The law of demand
Determinants of demand
The law of supply
Determinants of supply
Movement ( quantity demanded/supplied ) vs. shift
Why does price tend to form around the equilibrium price
How can the market equilibrium be changed
Resource allocation and the signaling and incentive functions of price
Scarcity
Market efficiency
Example questions and answers
Question group 1: Determinants of demand and supply
Question group 2: The signaling and incentive functions of price
Exercises
2 Elasticities
Key concepts
Price elasticity of demand ( PED )
PED, revenue, and marginal revenue
Cross price elasticity of demand (XED)
Income elasticity of demand (YED)
Price elasticity of supply ( PES )
Example questions and answers
Question group 1: Determinants of elasticities
Question group 2: Usefulness of the knowledge of elasticities
Exercises
3 Taxes, subsidies, and price controls
(government intervention in the free market )
Key concepts
Indirect tax
Market outcomes of an indirect tax
Impact on stakeholders from an indirect tax
How to find the tax burden (tax incidence ) for consumers and
producers ( HL only )
Subsidy
Price ceilings (maximum prices)
Price floors (minimum prices)
Impacts on stakeholders
Example questions and answers
Question group 1: Comparing the effects of government interventions
Question group 2: Government intervention vs. the free market
Exercises
4 Market failure
Key concepts
Market failure
Social welfare and allocative efficiency
Public goods
Excludability and rivalry
Common access resources
Externalities
Positive externality of production
Positive externality of consumption ( merit goods )
Negative externality of production
……
5 Cost, revenue, and profit (HL only)
6 Market structures (HL only)
7 Price discrimination (HL only)
8 The macroeconomic eauilibrium
9 Unemployment
10 Inflation
11 Economic growth
12 Equity in the distribution of income
13 Macroeconomic objectives and policies
14 Measurement problems
15 Free trade vs. protectionism
16 Exchange rate
17 Balance of payments
18 Economic inteqration and terms of trade
IB-style exercises for Section 3
19 Economic growth and economic development
20 Development factors
21 Market vs. intervention
IB-style exercises for Section 4
Appendix