For PED, remember that economists usually look at the absolute value. Don't let a negative sign trip you up unless the question specifically asks for the sign (like in XED or YED). 5. How to Practice Don't wait until the week before mocks to open the booklet.
, the first thing to know is that—unlike IB Math or Physics— does not provide an official formula booklet during the exam ib economics hl formula booklet
The next day, she told Mr. Singh: “I finally get it. The Formula Booklet isn’t a cheat sheet. It’s a safety net. It lets me focus on analysis and evaluation —the hard part—because I’m not scared of forgetting a formula.” For PED, remember that economists usually look at
The booklet provides the basic formulas, but it won't tell you the rules of interpretation How to Practice Don't wait until the week
Write a "cheat sheet" of what is not in the booklet. For example:
Unlike some subjects where a data booklet is provided as a thick packet, the IB Economics HL formula list is relatively lean. This means you are expected to not only know the formulas but also understand the behind them. The IB examiners use these formulas to test your: Precision: Can you calculate the exact impact of a tax?
You’ll often have to calculate opportunity costs from a table to determine which country should produce what. Linear Equations: