This is where the math gets "crunchy." Your repack should have these in a clear table: Costs: Profit Maximization: Revenue Maximization: Allocative Efficiency: Productive Efficiency: 3. Macroeconomic Calculations (Unit 3) The Multiplier:
GDP=C+I+G+(X−M)cap G cap D cap P equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren
If you are an IB Diploma student walking into the Economics HL Paper 1, Paper 2, or Paper 3, you are allowed one powerful weapon: the . However, most students look at this official document and see a chaotic list of symbols, abbreviations, and Greek letters. They panic.
Change in GDP = Initial spending × Multiplier. Example: Government spends $10M, MPC = 0.8 → k = 5 → Total GDP change = $50M. ib economics hl formula booklet repack
Good luck, and may the elasticities be ever in your favor.
PES=%ΔQS%ΔPcap P cap E cap S equals the fraction with numerator % cap delta cap Q cap S and denominator % cap delta cap P end-fraction
[ \textXED = \frac%\ \textchange in quantity demanded of good A%\ \textchange in price of good B ] This is where the math gets "crunchy
Always show your full working to earn method marks even if the final answer is incorrect.
GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren
The primary value of a repacked formula booklet lies in its alignment with the Internal Assessment (IA) and Paper 3 requirements. The standard IB document lists formulas in a somewhat clinical, isolated manner. However, HL students must navigate complex calculations involving Elasticities, the Keynesian Multiplier, and Comparative Advantage within the context of broader policy discussions. By repacking these formulas into thematic clusters—grouping all elasticity measures together or pairing market failure equations with their corresponding subsidy/tax calculations—a student can visualize the interconnectedness of economic variables. This thematic approach reinforces the "big picture" thinking that IB examiners reward. They panic
: Synthesis reduces the bloat of standard textbook chapters into raw, actionable mathematical operations. Cross-Unit Application : Formulas like percentage change (
: Area below the price and above the supply curve: Social/Community Surplus : 2. Macroeconomics (Unit 3)
Calculations in this section often involve finding market equilibrium or measuring responsiveness to price and income changes. Linear Demand & Supply Functions is the intercept and is the slope). is the intercept and is the slope). Elasticities Price Elasticity of Demand (PED)
But in the repack, we add the context: "PED < 1 = inelastic (taxes work here)" or "YED > 1 = luxury (luxury cars)."