IB economics Classes that actually work
1 on 1 individual online lessons with expert tutors that allow students to see the beauty and simplicity of Economics
IB Economics Classes That Actually Work
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80% of students struggle with maths because they don’t receive adequate support. We believe, and have repeatedly proven, that with the right support any student can excel in maths.
In between the 30 mins lessons our students are given questions which help to consolidate their understanding, making following sessions much more effective.
Often students lose their self confidence when they try to do questions and get stuck. Every time our students get stuck during their independent study, we are there to help them with their question, enabling them to move on with their study.
Frequently Asked Questions
The difficulty level of IB economics is not hard class content-wise. The concepts of economics are elaborate and require a deep understanding of secure good grades. IB Teach is the finest online tutoring platform. We have a team of specialized IB economics tutors. We employ an interactive and engaging approach to impart quality education to our students.
IB Economics is the standard level economics course that is a part of the Diploma program. The course provides core knowledge of economics. The IB economics course encourages students to think rationally and critically about economics.
Economics HL is the study of various economic theories and applications. The course introduces students to different economic models, concepts, theories and terminologies. Learning IB economics will broaden the knowledge of the students and enable them to understand the intricacies of international economics.
IB Teach assists you to prepare for IB Economics. Our team of skilled, proficient and qualified IB economics tutors makes it easy to comprehend the complexities of economics. We prepare students by introducing them to various terminologies and economic theories. At IB Teach, we aim at making the subject easier for students and increasing their scores.
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What is Economics?
Economics is a very fundamental part of the IB program. In IB Teach, it’s very important to us to let our students get a clear understanding of all the technical terms throughout the entire IB experience. To start with, our IB Economics tutors would like to ask their future students a question: What do you think Economics is all about?. When students are asked this question, they often come up with a lot of answers. For example, the study of money, the study of the flow of money, and so on. However, Economics is not the study of money. According to our IB Economics online tutors, Economics is the study of scarcity. To illustrate, the state of insufficiency in which people can’t satisfy their desires is the dictionary’s definition of scarcity. In other words, the planet earth has many natural resources but all these resources are fixed amounts of resources. For instance, oil, gold, silver, etc… are all-natural resources but are not finite. Undoubtedly, if we consume many of our resources, we will end running out of all of them. We need resources to get food, to eat, or to manufacture goods. In other words, human beings always have the needs and wants for resources. Nevertheless, the real issue at this stage is that even though resources are finite, human desire is infinite which means that don’t on the planet earth we don’t have many resources to satisfy this desire forever. Here, where Economics comes up to solve the problem. In a nutshell, economics is the study of how scarce resources are allocated to fulfill the infinite wants of consumers.
The new IB Economics Syllable
Firstly, The old syllabus is still in use for those students who are graduating but if you’re graduating in 2022 then it’s going to be the new syllabus. There will be a new exam structure in the new Economics syllabus. Students will have new IA requirements. In this article, we are going to show you exactly what is in the new exam, how you can prepare for it, how to get a level seven, and last but not least how you can ace the IAS. In IB Teach, our IB Economics tutors in Gurgaon and IB Economics tutors in Noida, IB Economics tutors in Delhi NCR will try their best to ensure that it is all very clear for our students at each start of our IB courses. First, let’s go through the syllabus together to give you a clear understanding of what’s going to come and how our students can prepare for it. Just like the old IB Economics Syllabus, the new IB Economics syllabus doesn’t include many differences. The content is around 95% the same. However, the exam is going to be different. The question that our students should ask at this stage is: What are you going to learn in this syllabus. In a nutshell, our IB students are going to face three main units. The first one is called Microeconomics which is the study of individual markets. To illustrate, let’s take the market of cigarettes as an example. In this case, students need to learn how this market functions and how do firms operate. In some markets, there may be negative consequences on society. If we take a look back at our previous example “the cigarette market”. It has many negative effects on society. In this unit, students will learn how governments can intervene in that market to counteract these negative effects. On the other hand, in Macroeconomics it’s all about entire countries or cities’ economies. For example, you might have heard about unemployment in the United States going up or economic growth in the United States. All these things are about the entire economy unemployment. Last but not least, there is a unit called Global Economy. In this Unit, our IB Economics online tutors will be teaching our students two parts. In the first part, students will be introduced to international trade in which they will learn about exchange rates and tariffs. These are the types of courses that our students should expect to learn in Global Economy. After that, we have development. At this stage, our IB Economics SL tutors and IB Economics HL tutors will shed light on how can poor countries like Ethiopia lift their population out of poverty.
The IB Economics exams
First of all, the exam papers are three. If a student is SL, he/she will be required to take only paper one and paper two but if the student is an HL student then he/she is required to take paper three as well. To demonstrate, the first paper is only twenty percent of the marks for HL students and 30 percent of the marks for SL students. Moreover, students have one hour and fifteen minutes for the exam in which they will have three questions and they have to pick one. The question our students are going to pick is going to have two parts. In part A, students will be asked to explain an economic concept and each question is worth 10 marks. In part B, there will be an evaluation question, and each question is worth 50 marks. In part B, students will also get a data response in which they will get an article, and then they have to answer comprehension questions that are related to the article. Similarly, it’s 30 of the grades for HL students and 40 for SL. Not to forget that there will be a part A to G as well. To summarise, part A is definition and part B is simple calculation questions. On the other hand, parts C to F are four mark questions in which students will be required to draw economic diagrams and answer questions that are relevant to explain an economic concept. Finally, part G is an evaluation question that is going to be worth 15 marks. Regrading paper three, it is an HL paper. It’s 145 minutes it’s worth 30 percent of grades for HL students.