AP & IBDP
Economics is a dynamic social science, forming part of group 3 _ individuals and societies. The subject deals with scarcity, resource allocation and the methods and processes by which choices are made in the satisfaction of human wants. The IB Diploma Programme economics course emphasizes the economic theories of microeconomics, macroeconomics, and the global economy. It helps students apply economic theories, models, ideas and tools and analyze economic data to understand and engage with real-world economic issues and problems facing individuals and societies. They will also develop a conceptual understanding of individuals’ and societies’ economic choices, interactions, challenges, and consequences of economic decision-making.
Economics is a dynamic social science that has a major and long-term effects on the lives of students. Therefore, a thorough understanding of the different economic theories and issues such as economic systems, economic crises and fluctuations, economic policies, as well as economic and financial analysis will provide students with the chance to explain, analyze and evaluate economic issues. Economics will enable students to define problems, evaluate various alternatives and suggest solutions. It provides them with a unique opportunity to link theoretical knowledge and principles with real life situations.