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  • IB Business Management
    • 01 Business Organization and the Environment >
      • 1.1 Introduction to Business Management
      • 1.2 Types of business organizations
      • 1.3 Organizational objectives
      • 1.4 Stakeholders
      • 1.5 External Environment
      • 1.6 Growth and Evolution
      • 1.7 Organizational planning tools
    • 02 Human Resources >
      • 2.1 Human Resource Planning
      • 2.2 Organizational Structure
      • 2.3 Leadership and Management
      • 2.4 Motivation
      • 2.5 Organizational and corporate cultures
      • 2.6 Employer and employee relations
    • 03 Finance and Accounting >
      • 3.1 Sources of finance
      • 3.2 Costs and revenues
      • 3.3 Break-even analysis
      • 3.4 Financial Accounts
      • 3.5 & 3.6 Ratio Analysis
      • 3.7 Cash flow
      • 3.8 Investment appraisal
      • 3.9 Budgets
    • 04 Marketing >
      • 4.1 The Role Marketing
      • 4.2 Marketing Planning
      • 4.3 Sales Forcasting
      • 4.4 Market Research
      • 4.5 Product >
        • 4.5 Price
        • 4.5 Promotion
        • 4.5 Place
      • 4.7 International Marketing and Globalization
    • The Exam
  • IB Economics
    • 01 Microeconomics >
      • 1. The Foundations of Economics
      • 1.1 Demand and Supply
      • 1.2 Elasticities
      • 1.3 Government Intervention
      • 1.4 Market Failure
    • 02 Macroeconomics >
      • 01 Level of Economic Activity
      • 2.2 Aggregate Demand
      • 2.3 Aggregate Supply
      • 2.4 Macroeconomic Equlibruim
      • 2.5 Unemployment
      • 2.6 Inflation
      • 2.7 Economic Growth
      • 2.8 Equity in the distribution of income
    • 03 International Economics >
      • 3.1 Free Trade
      • 3.2 Protectionism
      • 3.3 Exchange Rates
      • 3.4 Balance of Payments
      • 3.5 Economic Integration
    • 04 Development Economics >
      • 4.1 Economic Development
      • 4.2 Measuring Development
    • 05 Exam Preparation
  • Individuals & Societies 8
    • 01 Belief systems and their influence on culture
    • 02 How are societies governed?
    • 03 Japan 1603 - 1945: Isolation and then expansion
    • 04 What are natural hazards and how do societies respond to them? Case Study: Japan
  • Individuals & Societies 7
    • 01 Economic Growth and Development
    • 02 Where are all the people?
    • 03 What can we learn from Classical Civilizations (Greece) >
      • 03 What can we learn from Classical Civilizations?
    • 04 How has globalization shaped the world?
  • AP World History
    • Free Response Questions
    • 10,000 BCE - 600CE
    • 600 - 1450
    • 1450 - 1750
  • AP Human Geo
    • 01 Geography its nature and perspectives
    • 02 Population and Migration
    • 03 Cultural Geography
    • 04 Political Geography
    • 05 Urban Geography
    • 06 Economic Geography
    • 07 Agricultural Geography
    • Exam Review
  • Previously Taught Courses
    • G12 Economics >
      • Basic Economic Ideas
      • Producing and Consuming
      • Financial Capability
      • Managing the Economy
    • G10 World History >
      • 01 Exploration, Scientific Revolution and the Enlightenment
      • 02 The American Revolution
      • 03 France: Absolute Monarchy & Revolution
      • 04 The Industrial Revolution
      • 05 Imperialism and Nationalism
      • 06 WW1
      • 07 Inter-War Period
      • 08 WW2
    • G9 World History >
      • 01 Human beginnings and early civilizations
      • 03 Classical China
      • 04 The Muslim World
      • 05 Interregional Networks and Contacts 500 - 1450
      • 01 The Individuals and Societies Toolbox
      • 06 The Renaissance and Reformation >
        • Oral Presentations
    • G9 Social Studies >
      • History >
        • Analyzing Sources
      • Geography
    • G7 Social Studies >
      • Introduction to Empowerment
      • Economic Empowerment
      • Political Empowerment
      • Cultural Empowerment
      • National Empowerment
      • 04 Resources and the environment
      • Finance and Accounting >
        • 3.1 Sources of finance
        • 3.2 Investment appraisal
        • 3.3 Working capital
        • 3.4 Budgeting
        • 3.5 Financial Accounts
        • 3.6 Ratio Analysis
  • Extended Essay
    • 01 Getting Started
    • 02 Structuring the EE
  • Writing Skills
  • Critical Reading

Unit III - Financial Capability

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This unit considers why we need money and how it contributes to economic activity. We will examine the role of financial institutions such as banks and stock exchanges in the world economy.  Can you imagine a world without money? 

How would firms pay their workers? How would we satisfy our needs and wants? How would the government be able to finance the building of new schools and hospitals? 

We will begin by examining the functions of money and the need for exchange.

Unit 3 Plan

Economics Unit 3 Plan Printable Version
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What is Money?
Sample Class Activities

Money Who Needs it?
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Money Financial Assets
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What is a bank?

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How the Stock Market Works

The functions of money, banks and the stock market - Review

Occupations and Earnings

In this part of the unit you will study the following:
  • factors that affect an individuals choice of occupation
  • how wage rates are determined by the demand for labour and supply of labour to different occupations
  • the differences in earnings between different occupational groups
  • how and why governments may intervene in labour markets
  • the benefits and disadvantages of specialization for the individual
Advantages and Disadvantages of Job Specialization
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The Labour Market
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Minimum Wage
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The Financial Services Industry

This is the final part of Unit 3 and during this section we will study:
  • analyse the different motives for spending, saving and borrowing.
  • learn how age, tastes and consumer confidence affect our spending patterns.
  • analyse the impact of changes in interest rates and the availability of credit can have on decisions to borrow money.
  • look at how different income groups have different expenditure patterns.
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