The effects upon economic activity of international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.
In IB Economics Section 3 International economics includes:
3.1 International trade (one topic HL extension, plus one topic HL only)
3.2 Exchange rates (some topics HL extension)
3.3 The balance of payments (one topic HL extension, plus some topics HL only)
3.4 Economic integration (one topic HL extension)
3.5 Terms of trade (HL only)
Garibaldi Secondary School, Maple Ridge, British Columbia, Canada