Other resources: Here are the relevant pages of the IB syllabus: https://drive.google.com/open?id=1OTJZv-hXii_TaYYYdpWE7Je8unj5M0pg Here is a previous document I used to introduce IA (it's quite wordy!) but ends with some exemplars: https://drive.google.com/open?id=1gOOfsLrCHjDYZPM1w3Fdu36Uh6y6AdMD And here is a good, easy to follow video on how to draw diagrams in Google Draw:
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The business cycle - short-term fluctuations and long-term trend
Measures of economic activity: gross domestic product (GDP), and gross national product (GNP) or gross national income (GNI)
How do imports affect GDP? There is another good explanation of GDP in this Slate Magazine video "What is GDP?". See also below a video from Mr Clifford and a famous speech by Robert Kennedy. GDPvs GDP at PPP.... countries (worldometer) https://www.worldometers.info/gdp/gdp-per-capita/ https://ourworldindata.org/grapher/maddison-data-gdp-per-capita-in-2011us?tab=chart&time=1620..2016&country=TUR~CHN~USA~GBR~NZL~HUN
The circular flow of income model
Today we pause on Theory of the Firm (thanks, coronavirus!) and start Macroeconomics. This is what you need to do:
Remember.... you really are going to have to be disciplined and agents of your own learning while we are distance learning.... it is so important that we stay on track. NOTE: if you forgot to take the textbook home I have uploaded an electronic version on Google Classroom.
Today we will finish off the packet.… you should read the article “Why is Perfect Competition Economically Efficient?” and p108-111 of textbook. Then use graphs to explain that in the short run firms in perfect competition are allocatively efficient but may not be productively efficient, whereas in the long run they are both allocatively and productively efficient. Shut-down and break-even points
Plus me explaining how to draw the three profit diagrams: Assumptions of the model
You will be given a pack of resources which will cover the objectives above. |
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