Free Event

IB Econs Enrichment Class - All You Need To Know About Market Failure

The two-year International Baccalaureate (IB) Diploma Programme (DP) is a prestigious and globally recognized qualification for students aged 16 to 19, paving the way to top universities worldwide. Each year, around 150,000 students apply to over 3,300 higher education institutions across nearly 90 countries. The IB DP curriculum mandates core subjects and allows students to select six subjects from various groups. The IB DP Economics course enables students to grasp the dynamics of economic activities in a swiftly evolving world through the application of economic models and theories.

The IB DP Economics course helps students understand the complexities of economic activities in a rapidly changing world through economic models and theories. Our upcoming IB Economics (HL & SL) Enrichment Class will offer insights into the Market Failure topics.

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Date & Time

  • Date: Sunday, 26th October 2025
  • Time: 10:00 AM – 12:00PM SGT
  • Location: Orchard Campus – 15 Scotts Road, #07-05 Singapore 228218

Key Takaways

  • Understand and create diagrams representing externalities and social cost/benefit curves.
  • Explore government intervention, its pros and cons, and apply tools to real-world scenarios.
  • Discuss why public goods are often underprovided in free markets and how governments address this.

Agenda

This session will focus on HL/SL topics related to market failure, covering:

Market Failure: Externalities & Common Resources (This is the core of market failure theory)

  • Definition and logic of market failure
    • Why free markets sometimes fail to allocate resources efficiently
  • Externalities
    • Negative externalities
    • Positive externalities
    • Diagrams: showing marginal private cost / benefit vs. marginal social cost / benefit; illustrating welfare loss or under provision.
  • Common pool / common access resources
  • Government responses to externalities and common access problems

Market Failure: Public Goods

  • Definition and characteristics of public goods
  • Free-rider problem
  • Government provision / financing of public goods
  • Limitations / issues in public goods provision

Speaker Profile

ARCHANA

Expertise: AP, IGCSE, IB, A-Level — Economics & Mathematics

Archana is an Economics and Mathematics tutor with a strong background in IGCSE and IB curricula. Currently pursuing Economics at Singapore Management University, she excelled in both IGCSE and IB during her own studies. Her interests in development economics, finance, and research shape her teaching style, allowing her to bring real-world context into the classroom.

Archana has taught Mathematics, Economics, and Visual Arts to students in grades 7-12. She has guided students to significant academic improvements-for example, helping an AP Economics student progress from a score of 3 to 5, and an IB Math HL student from 3 to 6.

In addition to tutoring, Archana has worked as an Economics Research Assistant, an experience she draws upon to support students with internal assessments and extended essays. Her approach emphasizes critical thinking and connecting abstract concepts to practical applications, equipping students to excel both academically and beyond.

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