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Economics

Year 11 and 12 IB Diploma Pathway|Humanities and Social Sciences

Economics

Nathan Kime
Curriculum Leader - Commerce
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Economics

James AnthonyNovember 27, 2017February 12, 2020

Economics is a dynamic social science. The study of economics is essentially about the concept of relative scarcity and the choices that follow from relative scarcity. Although economics involves the formulation of theory, it is not a purely theoretical subject; economic theories can be applied to real-world examples. Neither is economics a discrete subject, since economics incorporates elements of history, geography, psychology, sociology, political studies and many other related fields of study.

Economics does not exist in a vacuum, because it naturally must consider how economic theory is to be applied in an international context.

The scientific approach characterises the standard methodology of economics. This methodology can be summarised as a progression from problem identification, through hypothesis formulation and testing, arriving finally at a conclusion.

Alongside the empirical observations of positive economics, students of the course are asked to formulate normative questions. Encouraging students to explore such questions forms the central focus of the Economics course.

Courses

Standard Level

Assessments
  • Portfolio
    20%
  • Examination
    80%

Higher Level

Assessments
  • Portfolio
    20%
  • Examination
    80%

Prerequisites

Minimum Level of Achievement in Year 10:

HL students –  course average of 70% or above

SL students –  course average of 60% or above

Past Exams

Individuals and Societies Past Exams

Contact

Nathan Kime
Curriculum Leader - Commerce
Nathan.Kime@scotch.wa.edu.au
  • Last Updated: November 27, 2017February 12, 2020
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