Even if you are 100% sure of the answer, always write out the formula you are using and show each step of your substitution. Marks are often awarded for the correct method, even if you make a minor arithmetic mistake at the end.
Inflation Rate=CPIYear 2−CPIYear 1CPIYear 1×100Inflation Rate equals the fraction with numerator CPI sub Year 2 end-sub minus CPI sub Year 1 end-sub and denominator CPI sub Year 1 end-sub end-fraction cross 100
Right triangle next to domestic demand. Exchange Rates and Balance of Payments Currency Conversion:
The IB Economics HL Formula Booklet is a compact toolkit meant to translate economic ideas into clear calculations. Repacking the booklet means reorganizing those core formulas and concepts so students can quickly apply them during revision and exams. Below is a concise, exam-focused write-up that groups the most useful HL formulas with short notes on use, common pitfalls, and an efficient study layout. ib economics hl formula booklet repack
Opp cost of 1 car in USA = 0.5 wheat; in UK = 0.5 wheat. No advantage.
YED=%ΔQd%ΔYYED equals the fraction with numerator % cap delta cap Q sub d and denominator % cap delta cap Y end-fraction : Normal good ( is luxury, is necessity). : Inferior good.
Read the text prompt or table carefully. Extract values and list them with their symbols (e.g., Even if you are 100% sure of the
k=11−MPC=1MPS+MPT+MPM=1MPLk equals the fraction with numerator 1 and denominator 1 minus MPC end-fraction equals the fraction with numerator 1 and denominator MPS plus MPT plus MPM end-fraction equals the fraction with numerator 1 and denominator MPL end-fraction
The area of the triangle representing lost welfare due to market distortion. Theory of the Firm (HL Only)
ΔTCΔQthe fraction with numerator cap delta TC and denominator cap delta cap Q end-fraction Profit Maximization Rule: Revenue Maximization Rule: Allocative Efficiency: Productive Efficiency: Unit 3: Macroeconomics Exchange Rates and Balance of Payments Currency Conversion:
The is the only one allowed in exams. A “repack” is a revision aid , not a substitute. You cannot bring a repack into the exam — only the standard IB booklet. Always verify formulas against the latest IB Economics HL guide.
Global trade economics requires you to analyze currency values, trading benefits, and international financial flows. Exchange Rates and Trade
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