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    Am i the only person on this planet that has regretted taking econmics?
    I know the exam is only next week but im starting to panic.

    Everything was fine for the first year until we got to the multiplier effect, which i do not understand....since then its been going down hill....can someone please explain to me the balance of payments...it has like balance of trade deficit and everything and i have no idea what most of it is about.

    I would appreciate any help given, because you could be helping others as well
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    lol..ahh..i got lost just after u..more specifically when the accelerator principle comes in!
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    (Original post by Cordy_star)
    Am i the only person on this planet that has regretted taking econmics?
    I know the exam is only next week but im starting to panic.

    Everything was fine for the first year until we got to the multiplier effect, which i do not understand....since then its been going down hill....can someone please explain to me the balance of payments...it has like balance of trade deficit and everything and i have no idea what most of it is about.

    I would appreciate any help given, because you could be helping others as well
    accelerator is to do with the relation between investment and savings i think, whereas multiplier is to do with how income is related to investment. i havent touched economics in a few months, ill have to read up on it, ill get backt o you in a few days. in th meantime, try www.bized.ac.uk they have some pretty solid economics notes for the IB/A levels.
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    (Original post by rajuredrum)
    accelerator is to do with the relation between investment and savings i think, whereas multiplier is to do with how income is related to investment. i havent touched economics in a few months, ill have to read up on it, ill get backt o you in a few days. in th meantime, try www.bized.ac.uk they have some pretty solid economics notes for the IB/A levels.
    Thanks, that really help full, lolol i didnt even know the accelerator existed....oppss have to start studying.
    Its not that its hard, i just find the course really boring...
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    Any good suggestions on Economics revision? I'm really worried about my exams...I thought I was really doing well with it too...then we started macro.... :confused: Anyway, I feel better knowing I'm not the only one. Best of luck!!
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    (Original post by Chelseanne)
    Any good suggestions on Economics revision? I'm really worried about my exams...I thought I was really doing well with it too...then we started macro.... :confused: Anyway, I feel better knowing I'm not the only one. Best of luck!!
    I know how you feel, wehn the course reached macroeconomies, i kinda switched off, the only thing i know really really well is theory of the firm, so i hope it comes up in both paper 2 and 3, its the only chance i have of getting a good grade....about revision i dont know, im having a problem with it myself
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    Economics is my favourite subject ...Sorry, not v. helpful
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    (Original post by Cordy_star)
    Am i the only person on this planet that has regretted taking econmics?
    I know the exam is only next week but im starting to panic.

    Everything was fine for the first year until we got to the multiplier effect, which i do not understand....since then its been going down hill....can someone please explain to me the balance of payments...it has like balance of trade deficit and everything and i have no idea what most of it is about.

    I would appreciate any help given, because you could be helping others as well
    I do not regret taking economics . To clear some of your concerns...

    The multiplier effect: A keynesian concept. Shows how an orginal investment grows larger as it circulates through the economy. This has to do with that if you spend money on e.g. construction work, this will not only give benefits to the construction itself but also to the people getting the job opportunities, the people supplying steel, the people making the steel etc. In this way, a 10 billion investment might give a total increase of 50 billion in the economy, e.g. a multiplier of 5. It can be calculated by 1/MPC or 1/leakages where leakages are MPS, MPT and MPM. I can explain this further but if you take standard level, this is more than enough.

    Balance of Payments: Split up into two halves, current account and capital account (+balancing item). Current account dels with trade (visible and unvisible, i.e. goods and services) and profits/rents/dividends etc. Capital account deals with the rest. BoP must always equal 0! This means that a current account deficit is not all bad as then you must have a capital account surplus! this just shows that your country is comparably weaker in trade etc. However, in the LR a persistent current account deficit can be bad (has to do with currency depreciation and inflation etc).

    Bring it on...this is good revision (havent yet started my revision, but feels okay)
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    BURJE...jag e imponerade...hahaha...
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    (Original post by Dodo_3)
    BURJE...jag e imponerade...hahaha...
    HI
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    (Original post by Dodo_3)
    BURJE...jag e imponerade...hahaha...
    Jaså, din lilla pissråtta. Du har gjort ditt första inlägg...Fel på svenskan hade du me, semiblatte.
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    haha...lilla banan pojke...det ska vara invisible inte unvisible..lär dig engelska...förresten kommer du på söndag till Matt's revision?
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    (Original post by burje-t)
    I do not regret taking economics . To clear some of your concerns...

    The multiplier effect: A keynesian concept. Shows how an orginal investment grows larger as it circulates through the economy. This has to do with that if you spend money on e.g. construction work, this will not only give benefits to the construction itself but also to the people getting the job opportunities, the people supplying steel, the people making the steel etc. In this way, a 10 billion investment might give a total increase of 50 billion in the economy, e.g. a multiplier of 5. It can be calculated by 1/MPC or 1/leakages where leakages are MPS, MPT and MPM. I can explain this further but if you take standard level, this is more than enough.

    Balance of Payments: Split up into two halves, current account and capital account (+balancing item). Current account dels with trade (visible and unvisible, i.e. goods and services) and profits/rents/dividends etc. Capital account deals with the rest. BoP must always equal 0! This means that a current account deficit is not all bad as then you must have a capital account surplus! this just shows that your country is comparably weaker in trade etc. However, in the LR a persistent current account deficit can be bad (has to do with currency depreciation and inflation etc).

    Bring it on...this is good revision (havent yet started my revision, but feels okay)
    Thanks, that has helped me a lot...i take higher level, but still as long as i get the gest of it i will be fine...thanks
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    Does anyone have economics SL past exams? My teacher's being a real nut and I can't find any... any help would be appreciated, thanks!

    Oh right, my e-mail's [email protected]
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    (Original post by burje-t)
    I do not regret taking economics . To clear some of your concerns...

    The multiplier effect: A keynesian concept. Shows how an orginal investment grows larger as it circulates through the economy. This has to do with that if you spend money on e.g. construction work, this will not only give benefits to the construction itself but also to the people getting the job opportunities, the people supplying steel, the people making the steel etc. In this way, a 10 billion investment might give a total increase of 50 billion in the economy, e.g. a multiplier of 5. It can be calculated by 1/MPC or 1/leakages where leakages are MPS, MPT and MPM. I can explain this further but if you take standard level, this is more than enough.

    Balance of Payments: Split up into two halves, current account and capital account (+balancing item). Current account dels with trade (visible and unvisible, i.e. goods and services) and profits/rents/dividends etc. Capital account deals with the rest. BoP must always equal 0! This means that a current account deficit is not all bad as then you must have a capital account surplus! this just shows that your country is comparably weaker in trade etc. However, in the LR a persistent current account deficit can be bad (has to do with currency depreciation and inflation etc).

    Bring it on...this is good revision (havent yet started my revision, but feels okay)
    Let's not get too excited here.
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    (Original post by rajuredrum)
    Let's not get too excited here.
    Hehe, don't worry. My enthusiasm was long gone by the time I pressed the "Submit Reply" button.
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    Yes! I think we're all a little nervous about certain sections in the exam, especially all those higher level extensions. Just remember, that the examiner isn't going to pick you and your weaknesses out. The papers are largely balanced - so relax (although not to an end of complacency!!!)
    May I suggest a brilliant textbook, although it's probably a little late now. "Economics from a Global Perspective" by Alan Glanville - a past IB economics examiner - worth every bent penny.

    Good Luck.

    J
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    (Original post by johnny_18)
    Yes! I think we're all a little nervous about certain sections in the exam, especially all those higher level extensions. Just remember, that the examiner isn't going to pick you and your weaknesses out. The papers are largely balanced - so relax (although not to an end of complacency!!!)
    May I suggest a brilliant textbook, although it's probably a little late now. "Economics from a Global Perspective" by Alan Glanville - a past IB economics examiner - worth every bent penny.

    Good Luck.

    J
    YEah i have that book, but through out the two year i have never picked it up...but i have kinda gotten despirate and i picked it up and its actauuly quite good, but its very big
    I just hope there is loads of microeconomics in there...its my favourite
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    hi, i just joined (little late hehe)
    im in ontario, canada, name = Richard Chou
    ib hl eco is in 3 days everyone ready?
    for review purposes anyone with any questions may ask me by email
    [email protected], would be glad to meet fellow ibers (altho again very late lol)
    i was predicted a 7, but of course i haf no confidence =p
    anyways just to provide a slight correction
    the multiplier is given as:
    1/ (1-MPC)
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    (Original post by squall0110)
    anyways just to provide a slight correction
    the multiplier is given as:
    1/ (1-MPC)
    Yeah thats true
    and since 1-MPC = MPS
    it also equates to 1/MPS
 
 
 

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