IB Economics is designed for motivated students with strong skills in analysis, quantification, evaluation, and social science. This course focuses on the sociological, governmental, and behavioral aspects of what it means to make decisions. It is not a business course. The goal of the course is to provide students with an understanding of how individuals, organizations, societies and nations address the problem of infinite wants and finite resources. Students will develop an ability to evaluate economic theories, concepts, situations and data objectively. Students will be trained to think like an economist. The 4 units cover Microeconomics, Macroeconomics, International Economics, and Development. The IA is based on economic analysis of current events. HL students will be expected to complete an additional 90 hours covering the Theory of the Firm and other advanced topics such as the Phillips Curve, Marshall-Lerner Condition, as well as applying algebraic equations and calculations to economic information.