Microeconomics Resources: Class of 2021
80+ Video Lessons | IB Lesson Specific Slides | IB Instructor’s Notes | IB Key Terms & Vocabulary | IB Exam Practice Questions | IB Internal Assessment Handbook | IB Student Discussions
Welcome to Microeconomics! Introduction and Overview of Course
Lesson 1: Introduction to the Foundations of Economics
Lesson 2: Scarcity, Choice, Opportunity Cost, and Utility
Lesson 3: The Basic Economic Problem
Lesson 4: The Factors of Production
Lesson 5: Production Possibility Curve
Lesson 6: Microeconomics and Macroeconomics
Lesson 7: Positive and Normative Economics
Lesson 8: Rational Economic Thinking
Lesson 9: Model Building
Study Break!
Lesson 10: The Circular Flow of Income Model
Lesson 11: Free Market vs Planned Economies
Lesson 12: Economic Growth vs Economic Development
Review Questions: Foundations of Economics
Key Terms and Concepts: Foundations of Economics
Lesson 1: Introduction to Demand, Supply, and Market Equilibrium
Lesson 2: The Law of Demand
Lesson 3: The Determinants of Demand
Lesson 4: The Law of Supply
Lesson 5: The Determinants of Supply
Lesson 6: The Rule of 11: The Basic Demand and Supply Diagram
Study Break!
Lesson 7: Market Equilibrium
Lesson 8: The Effects of Shifts of Demand and Supply
Lesson 9: The Role of Price Mechanism
Lesson 10: Market and Allocative Efficiency
Review Questions: Demand, Supply and Market Equilibrium
Key Terms and Concepts: Demand, Supply, and Market Equilibrium
IB Exam Practice Questions: Demand, Supply, and Market Equilibrium
Lesson 1: Elasticities: Introduction and Overview
Lesson 2: Price Elasticity of Demand (PED)
Lesson 3: Price Elasticity of Demand: Applications
Lesson 4: Price Elasticity of Demand: The Diagram
Lesson 5: Price Elasticity of Demand: Determinants
Lesson 6: Cross Elasticity of Demand (XED)
Lesson 7: Income Elasticity of Demand (YED)
Lesson 8: Price Elasticity of Supply (PES)
Study Break!
Lesson 9: Price Elasticity of Supply: Applications
Lesson 10: Price Elasticity of Supply: Determinants
Review Questoins: Elasticities
Key Terms and Concepts: Elasticities
IB Exam Practice Questions: Elasticities
Lesson 1: Introduction to Government Intervention
Lesson 2: Indirect Taxes
Lesson 3: Indirect Tax Diagram
Lesson 4: Per-Unit Subsidies
Lesson 5: Per-Unit Subsidy Diagram
Study Break!
Lesson 6: Price Controls: Introduction
Lesson 7: Price Ceiling Diagram
Lesson 8: Price Floor Diagram
Review Questions: Government Intervention
Key Terms and Concepts: Government Intervention
IB Exam Practice Questions: Government Intervention
Lesson 1: Introduction to Market Failure
Lesson 2: Market and Allocative Efficiency
Lesson 3: Market Failure Base Diagram
Lesson 4: Negative Externality of Consumption: The Diagram
Lesson 5: Negative Externality of Consumption: The Solutions
Lesson 6: Negative Externality of Production: The Diagram
Lesson 7: Negative Externalities of Production: The Solutions
Lesson 8: Positive Externality of Consumption: The Diagram
Lesson 9: Positive Externality of Consumption: The Solutions
Lesson 10: Positive Externality of Production: The Diagram
Lesson 11: Positive Externality of Production: The Solutions
Lesson 12: Common Access Resources
Review Questions: Market Failure
Key Terms and Concepts: Market Failure
IB Exam Practice Questions: Market Failure
The Basic Demand and Supply Diagram: The Rule of 11
Elasticity: Price Elasticity of Demand -- The Diagram
Government Intervention: The Indirect Tax Diagram
Government Intervention: The Per-Unit Subsidy Diagram
Government Intervention: The Price Ceiling Diagram
Government Intervention: The Price Floor Diagram
Market Failure: The Market Failure Base Diagram
Market Failure: The Negative Externality of Consumption Diagram
Market Failure: The Negative Externality of Production Diagram
Market Failure: The Positive Externality of Consumption Diagram
Market Failure: The Positive Externality of Production Diagram