Microeconomics Coursework Economics revision notes made for the IB(International Baccalaureate) exam boards. This covers all the topics and modules for all specifications.
Topics that are covered includes 1.1 Competitive markets; 1.2 Elasticities; 1.3 Government intervention; 1.4 Market Failure; 1.5 Theory of the Firm (HL).
1.1 Competitive markets:
- 1.1: Competitive markets: Demand & Supply
- Calculating and illustrating equilibrium using linear equations (HL)
- Linear demand functions (equations), demand schedules and graphs (HL)
- Linear supply functions, equations and graphs (HL)
- Market equilibrium and changes in equilibrium
- The role of the price mechanism
1.3 Government intervention:
- 1.3: Government Intervention
- Indirect taxes
- Subsidies and linear functions (HL)
- Tax Incidence and Price Elasticity of Demand and Supply (HL)
1.4 Market Failure:
1.5 Theory of the Firm (HL):