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EconDaddy

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    May 2007

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  1. Hi, While there is absolutely no way to tell what would come up, there are some topics which are always good to have a good knowledge about as they can possibly come up in all 3 exams. A solid knowledge of elasticity is essential for example, as it can come up in micro as an essay question (paper 1) or in calculations (in paper 3), but also in international (paper 2) just think of the Marshall-Lerner condition. Also, I always suggest that my students study the evaluation of the use of national income statistics, as it can come up as essay questions in paper 1 and 2 (even at development) but also as a 4 point question in paper 3. So, if I were you, I'd go through topics that come up multiple times in the syllabus. DanielEconDaddy - IB Economics teacher and tutorwww.econdaddy.com
  2. The previous answer is perfect, I'm just breaking it down a bit more to make sure you know what to draw: vertical axis: wages horizontal axis: quantity of labour (in that specific industry) curves: demand for labour (Dl1) + another one to the left (Dl2) and supply of labour (Sl) in that industry (and not ADL and ASL as those represent the total labour market of the whole economy). Structural unemployment will be represented at the original equilibrium wage level, where now there is a higher supply of labour (Sl) than demand for it (Dl2). DanielEconDaddy - IB Economics teacher and tutorwww.econdaddy.com
  3. You're welcome! Daniel EconDaddy - IB Economics teacher and tutorwww.econdaddy.com
  4. Hi Danilo, I'd still suggest to follow the syllabus and open up your book(s) at the parts that you're uncertain with. The IB will not ask anything which is not closely related to the syllabus. Also, feel free to have a look at my exam tips: http://www.econdaddy.com/2017-exam-tips/ All the best, Daniel EconDaddy - IB Economics teacher and tutorwww.econdaddy.com
  5. Hi Isabella, No, there is no such rule . If you have functions (btw for MR the IB does not want you to know the function), then mathematically they should start from the same point on the y axis. In the exercises, however, if you think about it, at the first unit produced the MR should be equal to AR so it should start at the same point, but not on the y axis. However, you're not required to draw them all the way to the point where they would meet, so it is acceptable that they don't start from the same point. What is important is to make sure that the MR is steeper (in reality it should be twice as steep as AR=D, but this is not a requirement by the IB either). Let me know if you have any questions and feel free to have a look at my exam tips: http://www.econdaddy.com/2017-exam-tips/ All the best, Daniel EconDaddy - IB Economics teacher and tutorwww.econdaddy.com
  6. You're welcome, Let me know if I can help with the revision. All the best, Daniel EconDaddy - IB Economics teacher and tutorwww.econdaddy.com
  7. Hi, Just to clarify things, here is a summary of past paper 3 questions - to the best of my knowledge - since the new (2013) exam structure was introduced: May 2013 Micro Macro Micro Nov 2013 Micro Micro Macro May 2014 Macro International Micro Nov 2014 International Micro Macro May 2015 Micro Macro International Nov 2015 Micro Micro Macro May 2016 Micro International AND Micro Macro AND Micro Nov 2016 Micro International Macro Based on the above, you can see that there is no rule that a question will necessarily contain exercises from only one given syllabus section. It is also clear that there is a very strong Micro presence (sometimes 2 questions out of the 3), which is not a surprise as the IB suggests 60 hours more teaching time of Micro HL than of SL (for Macro, this is only 10 hours, for International it's 20, and there is no difference for Development between SL and HL with respect to suggested teaching time). That said, I suggest that you definitely revise Micro in depth if you'd like to score well in paper 3. Hope this helps. All the best, Daniel EconDaddy - IB Economics teacher and tutor www.econdaddy.com
  8. Hi, You can check out these articles (click on the image in the blog post for the articles). http://www.econdaddy.com/macro/spanish-unemployment-on-the-decrease-ib-economics-commentary-article/ http://www.econdaddy.com/macro/interest-rate-increase-in-the-u-s-ib-economics-tutor-commentary-article/ All the best, Daniel -- EconDaddy - IB Economics tutor www.econdaddy.com
  9. Hi Chenji, The 2013 version is the one to use. Cheers, EconDaddy IB teacher and tutor www.econdaddy.com
  10. Hi Kunal, First of all, you have to understand that the Phillips curve (PC) is a model. Therefore, as represented by this model, in the short-run, there is indeed a negative relationship between inflation and unemployment in many cases (but by no means in all cases). Second, it also matters what exactly that inflation rate is. For example, at high inflation rates, if that inflation rate stays constant but unemployment increases, then yes, there is an outward shift of the short-run PC. This actually shows that there is not necessarily a relationship between inflation and unemployment. Or, if the inflation rate is very low (especially if it's deflation), the PC is rather horizontal, meaning that the inflation rate does not change too much, yet unemployment can grow substantially. The situation that you described is simply called: increasing unemployment. I hope I was clear and this helps, but let me know if you have any questions. Cheers, EconDaddy IB Economics teacher and tutor www.econdaddy.com
  11. Hey, There is absolutely no reason to worry. As long as your diagram is clearly represented and legible it will be good. At the same time, you can draw nice diagrams with Google Drawings or RealtimeBoard. All the best for your IA. EconDaddy IB Economics teacher and tutor www.econadddy.com
  12. Hi, You might want to have a look at the articles on my blog: the top four on this page are less than a year old. I will try to post more in the future. About The Economist, the IB states that "Articles that include substantial economic analysis, such as in The Economist, while allowable as a source, may leave little opportunity for further analysis." So just be careful with it. Also, make sure that you use different sources for the commentaries. All the best, EconDaddy IB Economics teacher and tutor http://www.econdaddy.com/
  13. Hello Ebu, While what King112 says is true for upward sloping supply curves, if you're using a perfectly elastic (horizontal) Sworld supply curve in your international trade (open economy) diagram, then the ad valorem (percentage) tax/tariff will be represented by an Stariff curve which is parallel the original Sworld curve. This is because a given percentage tax will always increase the S curve by that % (of the price) at each quantity sold, so when the P is the same at each quantity, then the S curve including the % tariff will also be horizontal. Please let me know if you have any further questions. Good luck with your commentary, EconDaddy IB Economics examiner, teacher and tutor www.econdaddy.com
  14. I also suggest that you take HL if you're not afraid of some extra topics and a little math. Basically, if you are familiar with adding up, subtracting, multiplying and dividing numbers using a calculator (!) - this is grade 3-4, I believe - and with linear functions (grade 7), then this should not be a problem. In addition, you get to know some very interesting parts, which SL students don't get to learn. Good luck with it. EconDaddy IB Economics examiner, teacher & tutor www.econdaddy.com
  15. Hi, Bguloglu is right, check the syllabus in the Economics guide - First examinations 2013. It's on pp. 16-78 and they have a separate column for the SL syllabus. If you're in trouble, feel free to ask me any IB Econ related questions. On a different note, bguloglu, well-done!!! Usually about 0.3% of students score 45 Have a good time in Oxford and make the most of it. Cheers, EconDaddy IB Economics tutor and examiner www.econdaddy.com
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