Ib Economics Hl Formula Booklet !free! Jun 2026

Terms of Trade=Index of Average Export PricesIndex of Average Import Prices×100Terms of Trade equals the fraction with numerator Index of Average Export Prices and denominator Index of Average Import Prices end-fraction cross 100

$$PED = \frac% \Delta Q_d% \Delta P$$ Or using the Midpoint Method: $$PED = \frac(Q_2 - Q_1) / [(Q_1 + Q_2)/2](P_2 - P_1) / [(P_1 + P_2)/2]$$

When calculating percentage changes, students often subtract price levels ($P_2 - P_1$) without dividing by the correct base (the average in the Midpoint Method). This leads to incorrect elasticity coefficients.

(Gross National Income): GDP + Net Property Income from Abroad Real GDP : (Nominal GDP / GDP Deflator) × 100 Inflation and Unemployment ib economics hl formula booklet

PES=%ΔQs%ΔPPES equals the fraction with numerator % cap delta cap Q sub s and denominator % cap delta cap P end-fraction Costs, Revenues, and Profits

Real GDP=Nominal GDPGDP Deflator×100Real GDP equals the fraction with numerator Nominal GDP and denominator GDP Deflator end-fraction cross 100

This is where HL separates from SL. You need these for perfect competition, monopoly, and monopolistic competition. Terms of Trade=Index of Average Export PricesIndex of

(Where MPC = Marginal Propensity to Consume, MPS = Marginal Propensity to Save, MPT = Marginal Propensity to Tax, MPM = Marginal Propensity to Import)

Quantitative assessment plays a critical role in the International Baccalaureate (IB) Diploma Programme Economics Higher Level (HL) course. Unlike Standard Level (SL) students, HL students are heavily tested on their mathematical competencies, particularly in Paper 3, which is dedicated entirely to policy-focused quantitative data analysis, calculation, and evaluation.

The additional revenue gained from selling one more unit. You need these for perfect competition, monopoly, and

the IB does not provide a formal formula booklet during the Economics exams

Y=C+I+G+(X−M)cap Y equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren Where: = Consumption, = Investment, = Government Spending, = Exports, = Imports.

Marginal Propensity to Withdraw (MPW)=MPS+MPT+MPMMarginal Propensity to Withdraw (MPW) equals MPS plus MPT plus MPM

(Where C = Consumption, I = Investment, G = Government Spending, X = Exports, M = Imports)