Economics is a dynamic social science that looks at how and why resources are distributed the way they are. It combines elements of history, geography, psychology, sociology, politics, math, and science into an interesting and relevant study of how individuals, organizations, and nations organize themselves in pursuit of economic objectives. The focus of the class will be on applying theories to practical, real-world problems. Major topic areas include microeconomics, macroeconomics, international trade, and economic development. A number of the issues to be considered are: Should taxes be raised or lowered? Does a trade deficit matter? Is it possible to reduce unemployment? Can a future government afford to pay social security, and should it put a price tag on the environment? What are the arguments for the cancellation of developing countries’ debt? Should the U. S. continue in NAFTA?
Prerequisites
Written recommendation of the previous social studies teacher or permission of the instructor. Open to all Grade 11 and 12 W-L students who meet the prerequisites.
This course prepares students for the required Standard Level IB examination in Economics at the end of the course of study. Successful completion of this course will meet the Economics and Personal Finance graduation requirement. Segments of this course will be taught online, thereby satisfying the graduation requirement for a virtual course. Students not completing the Internal Assessment and/or not taking the examination will not earn the additional quality point. (22802). This IB course is weighted by applying an additional 1.0 quality point value assigned to the final grade upon completion of the course.