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**SUZHOU SINGAPORE INTERNATIONAL SCHOOL INTERNATIONAL BACCALAUREATE DIPLOMA STANDARD LEVEL** **ECONOMICS**

Economics is a dynamic social science, forming part of group 3—individuals and societies. The study of economics is essentially about dealing with scarcity, resource allocation and the methods and processes by which choices are made in the satisfaction of human wants. As a social science, economics uses scientific methodologies that include quantitative and qualitative elements. The IBO, 2011
 * The Nature of Economics**

The aims of the Standard Level Economics course are to enable you to: 1. Develop an understanding of microeconomic and macroeconomic theories and concepts and their real world application. 2. Develop an appreciation of the impact on individuals and societies of economic interaction between nations. 3. Develop an awareness of development issues facing nations as they undergo the process of change.
 * Aims of the course**

There are four assessment objectives in this course. Having followed the Standard Level course you will be expected to: 1. Demonstrate knowledge and understanding of specific content. 2. Demonstrate application and analysis of knowledge and understanding. 3. Demonstrate synthesis and evaluation. 4. Select, use and apply a variety of appropriate skills and techniques.
 * Assessment Objectives**