Ib Economics Hl Formula Booklet Repack
A "Repack" is not a new official document. It is a study strategy where the raw formulas are reorganized, contextualized, and annotated for practical use. Think of it as translating the language of mathematics into the language of exam technique. Instead of a list of symbols, a repack organizes formulas by concept, provides memory aids, and highlights common pitfalls.
Below is the definitive "Repack" of the IB Economics HL quantitative syllabus.
Export price index rises from 100 to 120. Import price index rises from 100 to 110. Calculate Terms of Trade. ib economics hl formula booklet repack
Repack solution:
TOT = (120 / 110) × 100 = 109.1. Favorable.
Download the latest version from your teacher or the IBO website. Use a highlighter and micro pens. A "Repack" is not a new official document
These rarely appear in isolation, but frequently show up in Paper 3 as a 2-point calculation at the start of a question.
The official booklet gives you these formulas raw. Your repack needs to group them by problem type. Export price index rises from 100 to 120
| Concept | Official Formula | Repack Strategy (The "Cheat Code") | | :--- | :--- | :--- | | PED | (%ΔQd)/(%ΔP) | Remember: Always report absolute value (drop -). | | YED | (%ΔQd)/(%ΔY) | Sign matters: + = Normal good; - = Inferior. | | XED | (%ΔQd Good A)/(%ΔP Good B) | + = Substitutes; - = Complements. | | PES | (%ΔQs)/(%ΔP) | Flows from zero to infinity. | | Tax Revenue | Tax per unit × Quantity after tax | Draw the wedge. Area of rectangle under DWL. | | Consumer Surplus (CS) | ½ × Base × Height (demand curve to price) | After tax, CS shrinks to the triangle left of Qty new. | | Producer Surplus (PS) | ½ × Base × Height (price to supply curve) | After tax, PS shrinks. | | DWL (Tax) | ½ × (Tax per unit) × (ΔQuantity) | The deadweight loss triangle. | | Price Ceiling Shortage | Qty demanded – Qty supplied (at ceiling price) | Calculate using the linear functions. |
Pro Repack Tip: Next to the CS formula, draw a tiny right-angled triangle. Visual learners recall shapes faster than text.