Internal Assessment Resources

Microeconomics Sample: https://docs.google.com/document/pub?id=1MrNo_LDVC0qcpQ8f9V89q-K8Fazdva2evRPCNgc3218

Macroeconomics Sample: http://welkerswikinomics.com/blog/2011/09/13/sample-ib-economics-internal-assessment-commentary-understanding-the-ecbs-bond-purchasing-program/

Slide Share with useful tips:  http://www.slideshare.net/timwoods/the-ib-economics-internal-assessment-mr-woods

Price Controls: Minimums and Maximums

Read in your books about price controls - when and how they are used by governments. Then research which products have minimum and maximum prices and why these price controls have been set.  When you come to class on Monday, you should be able to explain these concepts and provide examples of markets in which they are being applied.

Subsidies = Good, Taxes = Bad. Right?

The general idea most people have toward taxes is that they are a necessary evil that, like the saying goes, we can't avoid.  But should we view taxes as bad?  And on the other side of the coin, should we view subsidies as good?  We will analyze the benefits and problems caused by each of these economic factors and determine where the truth lies.

Subsidies:

http://edition.cnn.com/2012/01/12/world/africa/nigeria-strike/index.html?hpt=hp_t2#

http://www.youtube.com/watch?v=cR5KN1O5hVk&feature=related

http://www.youtube.com/watch?v=P8G1HIlRppo

Oil Boom = Multiple Economic Affects

Analyze the article linked below - identify the concept and explain what is happening and why.

http://billingsgazette.com/news/state-and-regional/oil-boom-hits-glendive-college/article_aacc0b6c-2be4-57c4-a8b2-fa94c82a3443.html

Weekly Article

It's Monday...and you know what that means.  Find yourself an article relating to economics, read it, understand it and evaluate it in writing as your next blog post  Be sure to include the link to the article along with one relevant picture.

Weekly Reading Assignment

It's Monday...and you know what that means.  Find yourself an article relating to economics, read it, understand it and evaluate it in writing as your next blog post  Be sure to include the link to the article along with one relevant picture.

Elasticity - Should We Raise the Price?

This assignment has two components:

First, write a brief explanation of what elasticity is and how it works.

Secondly, create your own example of price elasticity of demand (the same as we have worked with in class this week.)  Create a brief scenario, draw a graph to illustrate the question, calculate (show your work) the % changes in price and quantity demanded.  Then calculate the price elasticity for your product, calculate the change in total revenue that would occr from the change in price and explain wheter the price should be changed as indicated in your scenario.  Be sure to include the graph and all formulae and your calculations.  Also include one picture which relates to the topic or your scenario.