Economics and business are two of our most popular offerings. Which one is right for you? Listen in and learn about the differences and overlaps between both, not to mention AP, IB and our own locally developed options:

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Economics

First Semester: The focus is on Microeconomics – that is the study of economic theory and concepts concerning the individual and firms. The course of study includes costs, supply/demand, pricing, market types and organization, theory of the consumer and theory of the firm. Second Semester: The focus is on Macroeconomics – that is the study of economics on a national and international scale. The course of study includes government regulations, banking, monetary and fiscal policy, and international trade, and personal finance.

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AP Economics:

The purpose of an AP course in microeconomics and macroeconomics is to give students a thorough understanding of the principles of economics that apply to an economic system as a whole. Such a course places particular emphasis on the study of national income and price-level determination, and also develops studentsÕ familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics. There is no single approach that an AP Microeconomics/Macroeconomics course is expected to follow. Whatever the approach, however, AP teachers are advised to take into account certain topics generally covered in college courses. The following is a brief discussion of these topics and some aspects of them that a teacher may choose to explore.

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More from the Collegeboard:

• Macroeconomics


• Microeconomics

IB Economics:

Economics is one of the pillars of modern society, the understanding of which is crucial for leaders in fields from politics to law to business. This course is designed to introduce economic concepts and theories and develop the skills of economic reasoning and analysis. The course spans two years and will cover units including basic economic concepts, microeconomics (theories of consumer behavior, market failures, etc.), macroeconomics (economic growth, inflation, unemployment, monetary and fiscal policy, etc.), international trade and economic development. StudentsÕ grades will be based on a combination of internal assessments such as article analyses, quizzes, unit tests, and research projects .

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Business

The Business & Management course will be offered as two semester classes. The first semester will cover the structure of business organizations, organizational objectives and the different environments in which organizations operate. Marketing will also be studied in the first semester examining strategies to achieve organizational objectives in response to the changing environment. The second semester will encompass human resource management and accounting and finance. At the end of each semester the students will be required to complete a written assignment: A case study that must demonstrate the application of tools, techniques and theory to a real business situation or problem.

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IB Business

As stated from the IB, “the aims of the Business & Management program are to: Promote the importance of exploring business issues from different cultural perspectives, encourage a holistic view of the world of business, enable the student to develop the capacity to think critically, enhance a studentÕs ability to make decisions, and enable a student to appreciate the pace, nature and significance of change. Upon completion of the program the student will be expected to: Demonstrate knowledge and understanding of business terminology, concepts, and principles, identify social and cultural factors, and ethical considerations assess the impact of the actions of organizations on the internal and external environment, demonstrate competence in problem solving by identifying the problem, selecting and interpreting data, applying appropriate analytical tools, and recommending solutions by evaluating their quantitative and qualitative implications, assess data from a variety of sources, evaluate information in order to distinguish between fact and opinion, collect, organize, interpret and present information in different forms justifying and evaluating the chosen method, and demonstrate their ability to apply theory to real-life situations. For Higher Level students the modules that the aforementioned will consist: Introduction to Organizations, the External Environment, Marketing, Human Resource Management, Operations Management, and Accounting and Finance. For Standard Level, the modules are: Introduction to Organizations, Marketing, Human Resource Management, and Accounting and Finance. Each level will complete a Research Proposal and Written report, and will sit for external exams.

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