The “Prezi” that we used for the international trade section of the syllabus is included below. It only covers the standard level content, and not the additional higher level material such as comparative advantage and trade diversion and creation.
One of the topics that comes up regularly, especially in essays, is terms of trade. Although many people find this a confusing topic it is one that if you can master is great for evaluation. The most important thing to remember is that the terms of trade are all about changes in the prices of …
There have been a number of articles in the news recently about what is happening in the Chinese economy relating to the macroeconomic and international trade topics that are in the IB Economics syllabus. There are a number of articles that you should read linked at the bottom of this brief commentary about the situation. …
In Economics there are many terms which you need to learn, understand and be able to define. In our classroom there are many of these terms in posters on the wall. Below are the posters in pdf form at A4 size. Introductory Economics Microeconomics Macroeconomics International trade Theory of the firm (Higher level only) Clicking …
This video is a good explanation of the potential impacts of trade upon the developing world and the policies of organisations such as the IMF and World Bank. Remember that it is important to have case study examples for the exam. Please upgrade your browser
The Chinese have a fixed currency that the US feels is undervalued and is therefore resulting in the US running a large balance of payments deficit against China. The chinese have a fixed currency and so it would require an revaluation rather than appreciation to increase its value. BBC article – China hits back at …
In the International economics section of the syllabus, it is important to distinguish between the volume and value of trade, and also the impact of changes in the balance of payments and the exchange rate and vice versa. This article refers to China which operates a fixed exchange rate system. We need to think about …
This is a very good article about currency devaluation, where Venezuela operates a different system to most countries with 2 exchange rates (1 for essential goods, and 1 for luxuries). It is very good issue for thinking about the link between exchange rates and inflation (International economics part of the syllabus), and also evaluating the …
East African trade agreement Article about a move towards a common market in East Africa Deflation returns to Japan Article about a deflation returning to Japan for the first time since the 2006 Factors affecting demand for Second Life Article explaining why the demand for Second Life has fallen – good examples of non-price factors
Gold hits new high on India deal Article about India changing some of it’s foreign currency reserves in to gold. South Korea approves India deal Article about reducing protectionism.