Markets and demand
One of the first topics that we look at in the Microeconomics section of the syllabus is markets and how they function. …
Price discrimination
The final topic of the HL Theory of the Firm section is Price discrimination. This is where the producer charges different consumers …
The simple prisoner’s dilemma
Game theory is an area of Economics that is increasingly used to explain many situations where strategic thinking and action is involved. …
Incidence of taxation
One of the forms of government intervention that we look at while studying the microeconomics unit, is the use of taxation. In …
Elasticity
One area of Microeconomics that we refer to throughout the course is the concept of elasticity. It is important to understand the …
Oligopoly and the Kinked-demand curve
During our studies of market structures we have come across oligopolies. We have found that in this form of structure there can …
Permits to pollute
The issue of tradable permits, or cap-and-trade schemes is a important one at the moment, and it is a relevant solution to …
Barriers to entry and anti-competitive behaviour
In the higher level course, it is important to understand that barriers to entry are an important source of monopoly power and …
Economic terms
In Economics there are many terms which you need to learn, understand and be able to define. In our classroom there are …
EU competition policy
As part of the higher level course you should have an understanding of competition policy. Most countries have their own competition …