IB Economics SL 4.6.1 Balance of payments
IB Economics SL 4.6.1 Balance of payments
Students practise defining and calculating the balance of payments and its current account using real national data tables—applying arithmetic to real-world deficits and surpluses.
How this is tested
- calculate the current account by adding net trade, primary income, and transfers
- distinguish balance of payments from current account using official accounting identities
- state whether the calculated current account shows a surplus or a deficit