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If you wish to find past papers in formats modified for candidates with varying needs please follow the link below.IB Economics – new curriculum – The changes to assessment January 29, 2011 April 11, 2011 This weekend I am at an IB Economics workshop discussing and dissecting the changes to the new curriculum, which will be implmented from the May 2013 exam session and onwards.
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By directing that industry, so that the industry in control of that individual actor in such a manner, as its produce may be of the greatest value, he intends only his own gain. And he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Led by an invisible hand to promote an end which was no part of his intention.
He is saying, look, when individual actors just act in their own self-interest, that often in aggregate leads to things that each of those individual actors did not intend. And that's why I point out that it was published in the same year as the American Declaration of Independence, because obviously America, the Founding Fathers, they wrote the Declaration of Independence, the Constitution, that really talks about what it means to be a democratic country, what are the rights of its citizens. And in both macro- and micro-economics, there is especially in the modern sense of it, there is an attempt to make them rigorous, to make them mathematical. You say "oh, all people are rational", "all people are gonna act in their own self-interest, or all people are going to maximize their gain", which isn't true -- human beings are motivated by a whole bunch of things.
Then he says: nor is it always the worst for society that it was no part of it. By pursuing his own interest, he frequently promotes that of the society more effectually than when he really intends to promote it. But the United States, with its overall experience of an American, is at least as influenced by the work of Adam Smith, by this kind of foundational ideas of capitalism. Or, what's going to happen when you raise or lower taxes. How does that affect the overall productivity when you do this. So, in either case you could start with some of the ideas, some of the philosophical ideas, so of the logical ideas, to say someone like Adam Smith might have. We simplify things, so we can start to deal with it kind of a mathematical way.
And they just both happened to happen around the same time. Individual actors, by essentially pursuing their own self-interested ends might be doing more for society than than if any of them actually tried to promote the overall well-being of society. Could lead to more wealth, more, a larger pie for everyone. and when he makes a statement, he is actually making a mix of micro-economic and macro-economic statements. And you hear the words scarce resources a lot when people talk about economics. But a resource that would be scarce is something like food, or water, or money, or time, or labor. And so microeconomics is how do people decide where to put those scarce resource, how do they decide where to deploy them. does that affect prices and markets, and whatever else. So, you have these basic ideas about how people think, how people make decisions. SO you simplify it, so you can start dealing with it in a mathematical sense. It can allow you to prove things based on your assumptions.
Thanks to a grade 12 student, we have been able to add study materials for Economics (HL)this year!
Special thanks to all who have contributed to make this possible :) Please click on the link to view the notes (: (By Charmaine Neo) -- Development economics Link to folder of model answer Paper 1 essays N.
If (within that time period) the govt brings in less tax revenue that it spends in expenses, then, for that year, the government has a budget deficit.
#ib Since the bulk of IB exams starts next week, good luck to everyone!! IB Economics, material includes subject-specific content, syllabus, pacing guide, lesson plans, activity book, class notes, assessments We are fetching your files, Depending on size this may take some time.