Transcript File - IB Econ Gr. 11-12

19 August Agenda
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Review
Important Dates
Optional: Syllabus items on Anki
Continue with 2.3 (Unemployment and Inflation)
Portfolios for Gr. 11 class?
Standard Poverty Cycle (Trap)
This Autumn
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27 August (Paper 1 Micro)
31 August (Section 2.3) – Art Trip
1 September (Section 2.3) – Art Trip
3 September (Paper 2 International) – Art Trip
9 September (IAs/Open Revision) – German Trip
11 September (Teacher Revision) – German Trip
14 September (Teacher Revision) – Bio Trip
16 September (IAs/Open Revision) – Bio Trip
29 September (Paper 1 Macro)
23 October (Paper 2 Development)
What are economic consequences of
unemployment (i.e. economy as a whole)?
Syllabus Item – 94 (Consequences of
Unemployment)
• Discuss possible economic consequences of
unemployment, including a loss of GDP, loss of
tax revenue, increased cost of unemployment
benefits, loss of income for individuals, and
greater disparities in the distribution of income.
• Discuss possible personal and social
consequences of unemployment, including
increased crime rates, increased stress levels,
increased indebtedness, homelessness and family
breakdown.
Syllabus Item – 95 (Types & Causes of
Unemployment)
• Describe, using examples, the meaning of frictional,
structural, seasonal and cyclical (demand-deficient)
unemployment.
• Distinguish between the causes of frictional, structural,
seasonal and cyclical (demand-deficient) unemployment.
• Explain, using a diagram, that cyclical unemployment is
caused by a fall in aggregate demand.
• Explain, using a diagram, that structural unemployment is
caused by changes in the demand for particular labour
skills, changes in the geographical location of industries,
and labour market rigidities.
• Evaluate government policies to deal with the different
types of unemployment.
Which of the following types of
unemployment is generally of the shortest
duration?
A.
B.
C.
D.
Demand deficient unemployment
Frictional unemployment
Seasonal unemployment
Structural unemployment
Bonus: What is another name for A?
Which of the following is not a potential
cause of classical unemployment?
A.
B.
C.
D.
Strong labor unions
Inadequate aggregate demand
Minimum wage laws
Agreements between workers and employers
Identify the type of unemployment for
each situation:
• 2008 financial crisis
• Self-driving trucks make truck drivers
obsolete.
• The gelateria in Kaiserswerth has closed.
• Maria just graduated in chemical engineering
and is looking for her first job. (The job market
looks very good.)
Workpoint 17.7 (p. 216)
• Complete the questions for your chosen
developed and developing countries.
• Add to the information you already have on
these nations.
Syllabus
http://ibeconomics-isd.weebly.com/