COURSE STRUCTURE<\/strong><\/p>\n\n\n\n SL and HL<\/p>\n\n\n\n Prerequisites:<\/strong><\/p>\n\n\n\n Nil<\/p>\n\n\n\n Exclusions:<\/strong><\/p>\n\n\n\n Nil<\/p>\n\n\n\n Economics is an exciting, dynamic subject that allows students to develop an understanding of the complexities and interdependence of economic activities in a rapidly changing world.<\/p>\n\n\n\n At the heart of economic theory is the problem of scarcity. While the world\u2019s population has unlimited needs and wants, there are limited resources to satisfy these needs and wants. As a result of this scarcity, choices have to be made. The economics course, at both SL and HL, uses economic theories to examine the ways in which these choices are made:<\/p>\n\n\n\n The economics course is focused on inquiry-based teaching and learning, in which students are given the opportunity to explore economic theories or global issues using real-world examples. The course is also underpinned by nine key concepts. These are scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence and intervention.\u00a0<\/p>\n\n\n\n <\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Course Description COURSE STRUCTURE SL and HL Prerequisites: Nil Exclusions: Nil Economics is an exciting, dynamic subject that allows students to develop an understanding of the complexities and interdependence of economic activities in a rapidly changing world. At the heart of economic theory is the problem of scarcity. While the world\u2019s population has unlimited needs […]<\/p>\n","protected":false},"author":15,"featured_media":0,"parent":3403,"menu_order":5,"comment_status":"closed","ping_status":"open","template":"","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-3451","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/pages\/3451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/comments?post=3451"}],"version-history":[{"count":5,"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/pages\/3451\/revisions"}],"predecessor-version":[{"id":4041,"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/pages\/3451\/revisions\/4041"}],"up":[{"embeddable":true,"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/pages\/3403"}],"wp:attachment":[{"href":"https:\/\/www.newington.nsw.edu.au\/academic-guides\/wp-json\/wp\/v2\/media?parent=3451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\n\n\n\n
Assessment<\/h2>\n\n\n\n
Group 3:<\/strong><\/td> Economics Standard Level<\/strong><\/td> <\/td> <\/td> Economics Higher Level<\/strong><\/td> <\/td> <\/td><\/tr> Type of Assessment<\/em><\/strong><\/td> Format of assessment<\/em><\/strong><\/td> Time (mins)<\/em><\/strong><\/td> Weighting of final grade (%)<\/em><\/strong><\/td> Format of assessment<\/em><\/strong><\/td> Time (mins)<\/em><\/strong><\/td> Weighting of final grade (%)<\/em><\/strong><\/td><\/tr> External<\/em><\/strong><\/td> <\/td> <\/td> 70<\/td> <\/td> <\/td> <\/td><\/tr> Paper 1<\/em><\/strong><\/td> An extended responses paper. (All syllabus content excluding HL)<\/td> 75mins<\/td> 30<\/td> An extended responses paper. (All syllabus content including HL material)<\/td> 75mins<\/td> 20<\/td><\/tr> Paper 2<\/em><\/strong><\/td> A data response paper. (All syllabus content excluding HL. Includes some quantitative questions)<\/td> 105mins<\/td> 40<\/td> A data response paper. (All syllabus content including HL. Includes some quantitative questions)<\/td> 105mins<\/td> 30<\/td><\/tr> Paper 3<\/em><\/strong><\/td> <\/td> <\/td> Nil<\/td> A policy paper. (All syllabus content including HL material)<\/td> 105mins<\/td> 30<\/td><\/tr> Internal<\/em><\/strong><\/td> <\/td> <\/td> 30<\/td> <\/td> <\/td> 20<\/td><\/tr> Portfolio<\/em><\/strong><\/td> This component is internally assessed by the teacher and externally moderated by the IB at the end of the course. Students produce a portfolio of three commentaries, based on different sections of the syllabus and on published extracts from the news media. Maximum 800 words x 3 (45 marks)<\/td> <\/td> <\/td> This component is internally assessed by the teacher and externally moderated by the IB at the end of the course. Students produce a portfolio of three commentaries, based on different sections of the syllabus and on published extracts from the news media. Maximum 800 words x 3 (45 marks)<\/td> <\/td> 15<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n