HomeIB EconomicsTopic 1.2

How do economists approach the world?

Economic models, assumptions, ceteris paribus, data interpretation, and limits of models.

Study Topic 1.2: How do economists approach the world?Read the complete notes with diagrams, key terms, and exam tips
IB Economics Question BankPractise exam-style questions for Topic 1.2IB Command TermsLearn what examiners expect for Explain, Evaluate, Discuss…

IB Economics · Topic 1.2

Sub-topics in Topic 1.2

1.2.1Economic models and assumptions1.2.2Positive and normative economics1.2.3Limitations of economic models1.2.4Where economics began: Smith, the classical school and Marx1.2.5Keynes, the monetarists and the argument that never ended1.2.6Economics now: real behaviour and the circular economy