Introduction

This section of 'getting started' is specifically for students using the Economics site but it can also be used by teachers.

The page is made up of the following areas:

• The way Economics is covered on the site and the approach we use for students.
• The different parts of the site that are available to students.
• How best to use the different parts of the site available to students.
• How the Economics site can be used to support student study skills.
• The revision materials we have on the site.
• The nature of assessment in economics and the practice paper questions we have set up.

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The approach to Economics for students

Most Economics textbooks will have the following phrase or similar in their first chapter - 'Economics is the study of how society allocates scarce resources to satisfy human wants'. That is certainly true and we cover it in the material on the site but what we want to do on the site for students is bring Economics to life as such an interesting, topical and exciting subject.

Consider these major world events from the last 20 years. What we try to do on the site is to get students to learn the theories, concepts, knowledge and skills needed to really understand events like these.

Lehman Brother's Bank filed for Chapter 11 bankruptcy protection on 15 September 2008. Was this the key moment of the World financial crisis?

The global financial crisis in 2008 was a huge economic shock that 14 years later is still affecting all countries in the world today.

The rise of Apple Inc to be the world's largest company with an annual revenue of $378.3 billion and a market capitalisation value of Market cap: $2.65 trillion.

The company has only founded in 1976 but it has grown to become one of the most influential global corporations. It is interesting to add up how wan Apple products in a person's house.

The owner of Tesla, Elon Musk becomes the world’s richest man. Musk is worth $191bn but this changes daily depend​​​​​​​ing on the values of the businesses he owns. 

There ​​​​​​​are currently 2668 billionaires in the world and this has grown significantly over the last 10 years. When the number of billionaires is contrasted with the 689 million people who live on $1.90 a day you get an idea of how unequal the world is.

At the age of 16, Greta Thunberg became one of the most influential people in environmental economics.

Many people argue that climate change is the most important economic challenge facing all countries in the world. As the climate warms and the weather becomes more unstable it brings consequences for areas such as agricultural output, the energy market and government expenditure. 

The ​​​​​​​emergence of Africa as a growing force in the global economy. Economic development in African countries is having major a effect on the global economy. 

As incomes rise in some of the world's poorest economies it leads to a significant reduction in global poverty and living standards. It also represents huge opportunities for global international trade.  

The online textbook

The online Economics textbook on the site is a really useful area for students to develop their learning in Economics. On the textbook area of the site, we cover the whole IB Economics course for Higher Level and Standard Level in a clear, well-structured way which makes learning accessible, easy to follow and really interesting for students.

Each chapter in the textbook goes through all the material in the course covering economic concepts, theory and ideas in the depth required to take students to the very highest level in the subject.  The chapters also cover the economics key concepts and how they are related to the course material.

There are a number of topical, up-to-date real-world examples in each chapter designed to support your learning of the course material. Each example comes with questions and answers based on IB examination questions in papers 1, 2 and 3.

Every chapter finishes with 10 multiple-choice questions with answers so students can test themselves on the material they have covered. Here are sample chapters from microeconomics, macroeconomics and the global economy:

Supporting your study skills

One of the best ways for students to use the site is to develop the way they learn in Economics through effective study skills. Here is a guide for students on how they might develop their study skills.

Students can:

• Start with their school’s class notes from Economics lessons as an anchor point for their learning.
• Build on their class notes by using the material from the online textbook to support and supplement their learning.
• Use the multiple-choice questions at the end of each chapter to test their knowledge and understanding.
• Go through the inquiry case examples in each chapter and answer the practice questions to develop their Economics writing skills. Use the sample answers to check their responses.
• Move onto the exam practice questions to test themselves across different parts of the syllabus. This will help them develop their exam practice skills.

Revision

On the textbook section of the site, we have revision notes for the whole course. These downloadable pdf files are set out at the start of each chapter and they cover everything in a clear, structured form that makes them ideal for revision.

Here are some examples of revision notes used to support your learning in each chapter: