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Economics

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Practice

10 marks

Using an AD/AS diagram, explain how an increase in the central bank's policy interest rate could reduce demand-pull inflation.

 

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Monetary policy

Lesson

3.5Monetary policy

How a central bank uses interest rates and other tools to manage aggregate demand, how the effect travels through the economy, and when it works well or poorly.

19 sections

Reasoning Lab

How a rise in interest rates reduces inflationary pressure

The transmission mechanism of contractionary monetary policy, from the central bank's decision to its effect on demand-pull inflation, with the considerations that weaken or delay each link.

Diagram Lab

Aggregate demand and aggregate supply

See how a change in monetary policy shifts aggregate demand, and how the new short-run equilibrium depends on the slope of SRAS and on where the economy starts.

Contents

31 of 31 topics have a lesson so far.

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1Introduction to economics

  1. 1.1What is economics?(lesson available)
  2. 1.2How do economists approach the world?(lesson available)

2Microeconomics

  1. 2.1Demand(lesson available)
  2. 2.2Supply(lesson available)
  3. 2.3Competitive market equilibrium(lesson available)
  4. 2.4Critique of the maximizing behaviour of consumers and producersHL only(lesson available)
  5. 2.5Elasticity of demand(lesson available)
  6. 2.6Elasticity of supply(lesson available)
  7. 2.7Role of government in microeconomics(lesson available)
  8. 2.8Market failure: externalities and common pool or common access resources(lesson available)
  9. 2.9Market failure: public goods(lesson available)
  10. 2.10Market failure: asymmetric informationHL only(lesson available)
  11. 2.11Market failure: market powerHL only(lesson available)
  12. 2.12The market's inability to achieve equityHL only(lesson available)

3Macroeconomics

  1. 3.1Measuring economic activity and illustrating its variations(lesson available)
  2. 3.2Variations in economic activity: aggregate demand and aggregate supply(lesson available)
  3. 3.3Macroeconomic objectives(lesson available)
  4. 3.4Economics of inequality and poverty(lesson available)
  5. 3.5Demand management: monetary policy(lesson available)
  6. 3.6Demand management: fiscal policy(lesson available)
  7. 3.7Supply-side policies(lesson available)

4The global economy

  1. 4.1Benefits of international trade(lesson available)
  2. 4.2Types of trade protection(lesson available)
  3. 4.3Arguments for and against trade control/protection(lesson available)
  4. 4.4Economic integration(lesson available)
  5. 4.5Exchange rates(lesson available)
  6. 4.6Balance of payments(lesson available)
  7. 4.7Sustainable development(lesson available)
  8. 4.8Measuring development(lesson available)
  9. 4.9Barriers to economic growth and/or economic development(lesson available)
  10. 4.10Economic growth and/or economic development strategies(lesson available)

Topic titles and HL-only markers were checked against the IB Economics guide (course first assessed 2022; October 2022 update) in an AI-assisted comparison that has not been reviewed by a teacher. The cover of that update reads “First assessment 2024”; it is a revision of the same course, not a different syllabus. The syllabus explorer shows the pages checked for each topic. This is the guide for the Economics course first assessed in 2022, in its October 2022 update. Neither the guide nor the IB's subject brief prints a last assessment year, and the IB's website could not be opened by automated access, so IB Vault cannot confirm which examination sessions the guide applies to. Check with your school's DP coordinator before relying on it for 2027.