MacroeconomicsThe article is: http://www.reuters.com/article/2014/05/08/colombia-cenbank-idUSL2N0NU1YR20140508
and a brief explanation of it can be found here: http://ibeconomist.blogspot.sg/2014/05/expansionist-monetary-policy-in-colombia.htmlThis article commentary is for Higher Level economics in the IB Programme, please refer to the following links before writing:
1. https://ib-econ.wikispaces.com/Internal+Assessment
2. http://www.timwoods.org/2013/02/03/how-to-structure-an-economics-ia/
3. http://www.scribd.com/doc/236100170/IB-Economics-Macroeconomics-Commentary#scribd

Topic: Macroeconomics

Order Description
Watch the Khan Academy Video “Changes in Market Equilibrium” at www.khanacademy.org.

• Identify two microeconomics and two macroeconomics principles or concepts from the simulation/video.
• Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics.
• Identify at least one shift of the supply curve and one shift of the demand curve in the simulation/video.
• Explain what causes the shifts, and how each shift affects the price, quantity, and decision making.

Include responses to the following:
• How might you apply what you learned about supply and demand from the simulation/video to your understanding of a real-world product with which you are familiar?
• How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity?
• How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?
• How does the price elasticity of demand affect a consumer’s purchasing and the firm’s pricing strategy as it relates to the simulation/video?