Finding the value of one currency in terms of another.
GNI=GDP+Net Income from AbroadGNI equals GDP plus Net Income from Abroad
If you are an IB Diploma student walking into the paper, you know the drill. You have exactly 75 minutes for Paper 1, 90 minutes for Paper 2, and a grueling 1 hour and 45 minutes for Paper 3—the quantitative paper. In Paper 3, you are allowed one critical tool: the IB Economics HL formula booklet .
Measures how much quantity supplied changes when price changes. ib economics hl formula booklet repack
If you need help with specific practice problems, let me know: Which are you practicing? (Micro, Macro, or Global?)
IB Economics HL Paper 3 is explicitly dedicated to quantitative policy assessment. Use the following tactical advice to convert this formula repack into a high score:
This is where HL candidates lose marks because they confuse terms of trade with comparative advantage . Finding the value of one currency in terms of another
GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren
YED=%ΔQd%ΔYYED equals the fraction with numerator % cap delta cap Q sub d and denominator % cap delta cap Y end-fraction
Real GDP=Nominal GDPGDP Deflator×100Real GDP equals the fraction with numerator Nominal GDP and denominator GDP Deflator end-fraction cross 100 Gross National Income (GNI) In Paper 3, you are allowed one critical
For a comprehensive list, you can explore resources on Scribd or specialized study blogs like Tutopiya which offer updated 2026 formula sheets. If you'd like, I can:
Growth Rate=Real GDPYear 2−Real GDPYear 1Real GDPYear 1×100Growth Rate equals the fraction with numerator Real GDP sub Year 2 end-sub minus Real GDP sub Year 1 end-sub and denominator Real GDP sub Year 1 end-sub end-fraction cross 100 Inflation and Unemployment Metrics
TOT=Index of Average Export PricesIndex of Average Import Prices×100TOT equals the fraction with numerator Index of Average Export Prices and denominator Index of Average Import Prices end-fraction cross 100
| Concept | Official Formula | Repack Strategy (The "Cheat Code") | | :--- | :--- | :--- | | | (%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. |