Business and Economics

Business and Management

The Business and Management course is a rigorous and critical study of the ways in which individuals and groups interact in a business environment. It is an academic discipline that examines how business decisions are made and how these decisions impact on both internal and external environments. Students need to be able to analyse the forces and circumstances that create change in an independent and multicultural world.

The Higher Level course is based on 6 modules: Introduction to Business Organisations; Marketing; Human Resource Management; Accounting and Finance; Operations Management and Business Strategy. Students are required to be able to integrate concepts and ideas from each module to give a holistic overview and to produce a written report on the study of an actual company or group of companies.

The Standard Level course requires the study of 4 modules instead of 6: Introduction to Organisations; Marketing; Human Resource Management; Accounting and Finance. Students are also required to produce a written report on an actual business organisation.

Economics

Economics is a fascinating subject to study! It equips you to look more deeply into the world around you – to understand how and why it functions as it does. It gives you new perspectives on the news stories that you read or hear about every day. It helps you understand terms like inflation, unemployment, GDP, growth or recession.

On this course you will learn to answer questions such as:

Why are footballers or pop stars paid so much money?

Should governments ntervene to prevent drug consumption?

What can be done about poverty?

Should we be concerned about China's growing economic power?

Is Russia ready for a market economy?

In what way, if any, do countries benefit from globalisation?

Economics is a social science, which is a study of people in society and how they interact with one other. The IB Economics curriculum through its overarching emphasis on International Economics focuses on global issues. Economics plays a vital role in promoting international cooperation and mutual understanding that is learned through the consideration of economic theories, ideas and events from the perspective of different stakeholders in the world economy. Current affairs provide material for much of the discussion that takes place on this course.

Economics also recognizes that the earth´s resources are limited and as a consequence the quantity of goods and services available are also limited. Resources are scarce and wants are infinite which leads to choices to be made. The basic economic problem is concerned with 3 questions; what to produce, how to produce and for whom. Economics is a study of rationing systems to address the basic economic problem.

The IB curriculum is subdivided in to five parts, Foundation Economics, Microeconomics, Macroeconomics, International Economics and Development Economics.

The SL curriculum is based on core material. The HL curriculum extends this core material into more advanced concepts and includes 'The Theory of the Firm.'