IB Economics HL · Unit 3 of 6

IB Economics HL Unit 3: Macroeconomics

Unit 3 of IB Economics covers Macroeconomics. This unit contains 7 topics and 23 sub-topics. Below you'll find free study notes, flashcards, and exam preparation resources for every topic in this unit.

Higher Level students should treat this unit page as a route map: revise the shared core, then use the HL notes and topic links to reach the extra depth and evaluation expected at HL.

7 topics23 sub-topics

Exam technique guide

What Unit 3 covers

Unit 3 examines the whole economy: output, inflation, unemployment, and how policy tools can influence aggregate demand and supply (with additional HL depth in analysis).

Topics in Unit 3

3.1

Measuring economic activity and illustrating its variations

3 sub-topics

3.2

Variations in economic activity: aggregate demand and aggregate supply

3 sub-topics

3.3

Macroeconomic objectives

4 sub-topics

3.4

Economics of inequality and poverty

3 sub-topics

3.5

Demand management: monetary policy

3 sub-topics

3.6

Demand management: fiscal policy

4 sub-topics

3.7

Supply-side policies

3 sub-topics

Study tip: Work through the topics in order — each builds on concepts from the one before. Start with notes, then reinforce with flashcards and practice questions.

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Unit 2 Unit 4