🌍 The Global Economy · IB Economics Topic 3
IB Economics: The Global Economy Resources
Access clear, syllabus‑aligned notes, diagrams, real‑world examples, and exam‑style questions for every Global Economy subtopic in the IB Economics course.
The Global Economy Subtopics
International Trade
Benefits, specialization, comparative advantage
Learn why countries trade, how specialization works, and the economic gains from trade using clear diagrams and examples.
SL & HL
Case studies
Diagrams
Trade Protection
Tariffs, quotas, subsidies
Explore the tools governments use to restrict trade, their impacts, and how to evaluate protectionist policies.
SL & HL
Evaluation
Real‑world examples
Exchange Rates
Floating, fixed, managed systems
Understand how exchange rates are determined, why they change, and how they affect economies and trade flows.
SL & HL
Diagrams
Data interpretation
Balance of Payments
Current & capital accounts
Learn how the balance of payments is structured, how to interpret deficits and surpluses, and why they matter.
SL & HL
Data analysis
Exam skills
Economic Integration
Free trade areas, customs unions
Explore different levels of economic integration and their effects on trade, growth, and member countries.
SL & HL
Case studies
Evaluation
Terms of Trade
HL only · Index changes & impacts
Understand how the terms of trade index is calculated, what causes changes, and how it affects economies.
HL only
Calculations
Evaluation