: Channels like EconplusDal have dedicated videos walking through every equation needed for Paper 3. IB Economics HL Formula Booklet | PDF - Scribd
): The difference between total revenue and total economic costs.
%ΔQd%ΔPthe fraction with numerator % cap delta cap Q sub d and denominator % cap delta cap P end-fraction : ib economics hl formula booklet
Measures the responsiveness of quantity supplied to a change in price.
The efficiency loss caused by market distortion from protectionist policies (calculated using triangle geometry). Exchange Rates and Terms of Trade : Channels like EconplusDal have dedicated videos walking
, the first thing to know is that—unlike IB Math or Physics— does not provide an official formula booklet during the exam
An indirect tax shifts the supply curve vertically upward by the amount of the tax. is the tax per unit). Total Tax Revenue: Consumer Burden: Producer Burden: The efficiency loss caused by market distortion from
: The slope of the demand curve (responsiveness to price changes). : Quantity supplied when price is zero. : The slope of the supply curve. Finding Market Equilibrium: Set and solve for . Substitute back into either equation to find 3. Consumer and Producer Surplus
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?
The mathematical sign indicates the relationship between goods. Positive (+) XEDPositive (+) XED : Substitutes (e.g., Pepsi and Coca-Cola) Negative (-) XEDNegative (-) XED : Complements (e.g., Printers and Ink cartridges) Zero (0) XEDZero (0) XED : Unrelated independent goods Income Elasticity of Demand (YED) Formula: is Income) Interpretation: Positive (+) YEDPositive (+) YED : Normal good ( is a luxury; is a necessity). Negative (-) YEDNegative (-) YED : Inferior good (demand drops as income increases). Price Elasticity of Supply (PES) Formula: Interpretation: Always positive due to the Law of Supply. : Elastic supply : Inelastic supply Government Interventions and Market Welfare
Which specific (e.g., the Keynesian Multiplier, linear market equilibrium) do you find most challenging? Share public link