Hl Formula Booklet Repack | Ib Economics
MC=ΔTCΔQMC equals the fraction with numerator cap delta TC and denominator cap delta cap Q end-fraction Includes both explicit and implicit costs.
The International Baccalaureate (IB) Diploma Programme for Economics Higher Level (HL) is mathematically demanding. Students must master complex equations, precise definitions, and intricate multi-step calculations.
Instantly match exam prompts to their corresponding mathematical frameworks.
PES=%ΔQs%ΔPPES equals the fraction with numerator % cap delta cap Q sub s and denominator % cap delta cap P end-fraction Percentage Change Rule To calculate the percentage change ( ) used in all elasticity formulas: ib economics hl formula booklet repack
When analyzing two countries and two goods, determine opportunity costs to establish comparative advantage lines.
Marginal Propensity to Tax (MPT)=ΔTΔYMarginal Propensity to Tax (MPT) equals the fraction with numerator cap delta cap T and denominator cap delta cap Y end-fraction
Total spending on a nation's goods and services. MC=ΔTCΔQMC equals the fraction with numerator cap delta
Crucial Note: The IB syllabus emphasizes the for elasticity because it provides a consistent value regardless of whether price rises or falls.
CPI=Cost of Basket in Current YearCost of Basket in Base Year×100CPI equals the fraction with numerator Cost of Basket in Current Year and denominator Cost of Basket in Base Year end-fraction cross 100
%Δ=New Value−Old ValueOld Value×100% cap delta equals the fraction with numerator New Value minus Old Value and denominator Old Value end-fraction cross 100 Market Equilibrium & Government Intervention is non-price determinants and is the slope). Linear Supply Function: is non-price determinants and is the slope). Equilibrium Condition: Set and solve for Crucial Note: The IB syllabus emphasizes the for
GNI=GDP+Net Income from AbroadGNI equals GDP plus Net Income from Abroad Adjusts nominal GDP for inflation.
The foundation of economic measurement begins with opportunity cost and the linear representations of scarcity. Linear Demand and Supply Functions
Real GDP=Nominal GDPGDP Deflator×100Real GDP equals the fraction with numerator Nominal GDP and denominator GDP Deflator end-fraction cross 100 2. Inflation and Unemployment
This is often the most calculation-heavy section for Paper 3. You need to be comfortable with various cost, revenue, and profit formulas, as well as the different elasticities. The booklet includes: