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IB Economics

Unit 4: The global economy

The Ceteris modules for IB economics, The global economy, listed under each specification section. Each module teaches one idea, with questions through the page.

4.1 Benefits of international trade

Absolute and comparative advantageWork out which country has the comparative advantageCalculation · 7 min · FreeWhy countries tradeExplain how both countries gain from specialising and tradingHow it works · 7 min

4.2 Types of trade protection

TariffsShow what a tariff does to price, quantity and welfareDiagram · 7 minQuotas and non-tariff barriersTell a tariff from a quota and the other non-tariff barriersTell them apart · 6 min

4.4 Economic integration

Trade blocs and the WTOTell the stages of economic integration apartConcept · 7 min

4.5 Exchange rates

Floating and fixed exchange ratesTell a floating exchange rate from a fixed oneTell them apart · 6 minHow a weaker currency reaches a shop priceFollow a fall in the exchange rate through to what a shopper paysHow it works · 6 min

4.6 Balance of payments

The balance of paymentsSay what the current account records and what a deficit meansConcept · 8 min

4.8 Measuring development

Measuring developmentWork out an HDI-style measure and say what it adds to GDPCalculation · 7 min

4.10 Economic growth and/or economic development strategies

Is globalisation good for developing economies?Weigh the case each way on globalisation and developmentDebate · 8 min