IB Economics 1.5 Microeconomics: Theory of the Firm (HL Only)
This course will recap the IB Economics Microeconomic Syllabus focusing on section 1.5 Theory of the Firm. Students will develop their knowledge of key economic concepts, including cost curves, monopoly, oligopoly and market structures.
This course is designed for students in their first year or second year of IB studying HL Economics. It is a recap of the IB Economics Microeconomic Syllabus focusing on section 1.5 Theory of the Firm. This is a good course for students to take while they are studying this content in the classroom to ensure they have learnt the key points or as a revision tool. In each lesson, we will revise the key syllabus points, diagrams and consider past paper questions. By the end of this course, students will develop their knowledge of key economic concepts, including cost curves, monopoly, oligopoly and market structures.
Course Content
9 LESSONS
9 HOURS Total Length
Lesson 1
Production and Costs
60 minutes
Lesson 2
Cost Curves
60 minutes
Lesson 3
Revenues and Profit and Goals of Firms
60 minutes
Lesson 4
Market Structures: Perfect Competition
60 minutes
Lesson 5
Market Structures: Monopoly
60 minutes
Lesson 6
Market Structures: Monopolistic Competition
60 minutes
Lesson 7
Market Structures: Oligopoly
60 minutes
Lesson 8
Summary of Market Structures
60 minutes
Lesson 9
Price Discrimination
60 minutes
Key Skills
Economic Costs
Market Structure
Market Competition
Discrimination
Educator
Kimberley C
Science, Maths and Economics Educator
Alongside working towards her corporate finance exams, Kimberley teaches students in biology, physics, maths and economics to help them work toward their GCSEs and IB exams.