Economics: Edexcel A A Level revision notes
1 Introduction to Markets
1.1 Nature of Economics
- 1.1.1 Economics as a Social Science
- 1.1.2 Positive & Normative Economic Statements
- 1.1.3 The Economic Problem
- 1.1.4 Resources
- 1.1.5 Production Possibility Frontiers
- 1.1.6 Specialisation & Division of Labour
- 1.1.7 Types of Economies
- 1.1.8 End of Topic Test - Nature of Economics
- 1.1.9 Application Questions - Nature of Economics
1.2 How Markets Work
- 1.2.1 Rational Decision Making
- 1.2.2 Demand
- 1.2.3 Elasticities of Demand
- 1.2.4 Elasticities of Demand 2
- 1.2.5 Elasticity & Revenue
- 1.2.6 Supply
- 1.2.7 Elasticity of Supply
- 1.2.8 Price Determination
- 1.2.9 Price Mechanism
- 1.2.10 Consumer & Producer Surplus
- 1.2.11 Indirect Taxes & Subsidies
- 1.2.12 A-A* (AO3/4) - Taxing Prices or Quantities?
- 1.2.13 Alternative View of Consumer Behaviour
- 1.2.14 End of Topic Test - Markets
- 1.2.15 A-A* (AO3/4) - Markets
2 Market Failure
2.2 Government Intervention
- 2.2.1 Government Intervention in Markets
- 2.2.2 Subsidies & Price Controls
- 2.2.3 Pollution Permits & Regulation
- 2.2.4 A-A* (AO3/4) - European Emissions Trading
- 2.2.5 State Provision & Information Provision
- 2.2.6 Government Failure
- 2.2.7 End of Topic Test - Government Intervention
- 2.2.8 A-A* (AO3/4) - Government Intervention
3 The UK Macroeconomy
3.1 Measures of Economic Performance
- 3.1.1 Measuring Economic Growth
- 3.1.2 National Income Data
- 3.1.3 Inflation
- 3.1.4 Causes of Inflation
- 3.1.5 Consequences of Inflation
- 3.1.6 Employment & Unemployment
- 3.1.7 Causes & Impact of Unemployment
- 3.1.8 A-A* (AO3/4) - Hysteresis
- 3.1.9 Balance of Payments
- 3.1.10 Current Account Deficit & Imbalances
- 3.1.11 End of Topic Test - Economic Performance
- 3.1.12 Application Questions Macroeconomy
4 The UK Economy - Policies
4.1 Macroeconomic Objectives & Policies
- 4.1.1 Possible Objectives
- 4.1.2 Demand-Side Policies - Monetary
- 4.1.3 Demand-Side Policies - Monetary 2
- 4.1.4 A-A* (AO3/4) - The Future of Interest Rates
- 4.1.5 Demand-Side Policies - Fiscal
- 4.1.6 Demand-Side Policies in 2007-08
- 4.1.7 Strengths & Weaknesses of Demand Side
- 4.1.8 Supply-Side Policies
- 4.1.9 Supply-Side Policies 2
- 4.1.10 Conflicts Between Objectives
- 4.1.11 A-A* (AO3/4) - Conflicting Incentives
- 4.1.12 Phillips Curve
- 4.1.13 End of Topic Topic - Policies & Objectives
- 4.1.14 Application Questions - UK Policies
5 Business Behaviour
6 Market Structures
6.1 Market Structures
- 6.1.1 Efficiency
- 6.1.2 Perfect Competition
- 6.1.3 Perfect Competition 2
- 6.1.4 Monopolistic Competition
- 6.1.5 Oligopolies
- 6.1.6 The Prisoner's Dilemma
- 6.1.7 Collusion in Oligopolistic Markets
- 6.1.8 A-A* (AO3/4) - Which Factors Affect Collusion?
- 6.1.9 Monopolies
- 6.1.10 Price Discrimination
- 6.1.11 Monopsony
- 6.1.12 A-A* (AO3/4) - Models in Economics
- 6.1.13 Contestability
- 6.1.14 Benefits of Contestability
- 6.1.15 End of Topic Test - Market Structures
- 6.1.16 Application Questions - Market Structures
- 6.1.17 A-A* (AO3/4) - Cereal Collusion
6.2 Labour Market
- 6.2.1 Demand for Labour
- 6.2.2 Supply of Labour
- 6.2.3 Labour Market Imperfections
- 6.2.4 A-A* (AO3/4) - Labour Productivity & Unemployment
- 6.2.5 A-A* (AO3/4) - What Level of Unionisation is Good?
- 6.2.6 Wage Determination
- 6.2.7 Elasticity of Labour Supply & Demand
- 6.2.8 Intervention in Setting Wages
- 6.2.9 End of Topic Test - Labour Market
- 6.2.10 A-A* (AO3/4) - Labour Markets
6.3 Government Intervention
- 6.3.1 Reasons for Government Intervention
- 6.3.2 Government Promotion of Competition
- 6.3.3 Usefulness of Competition Policy & Examples
- 6.3.4 A-A* (AO3/4) - Modern Competition Policy
- 6.3.5 Privatisation
- 6.3.6 Government Regulation
- 6.3.7 A-A* (AO3/4) - Nationalisation vs Privatisation
- 6.3.8 Government Protection of Suppliers and Employees
- 6.3.9 Impact of Government Intervention
- 6.3.10 End of Topic Test - Government Intervention
- 6.3.11 Application Questions - Government Intervention
7 A Global Perspective
7.1 International Economics - Globalisation & Trade
7.2 International Economics - Currency
- 7.2.1 Merged Currency
- 7.2.2 Restrictions on Free Trade
- 7.2.3 Arguments for Protectionism
- 7.2.4 Arguments Against Protectionism
- 7.2.5 Balance of Payments
- 7.2.6 Balance of Payments 2
- 7.2.7 Floating Exchange Rates
- 7.2.8 Fixed Exchange Rate
- 7.2.9 International Competitiveness
- 7.2.10 End of Topic Test - International Economy
- 7.2.11 Application Questions - International Economics
8 Finance & Inequality
8.2 Emerging & Developing Economies
- 8.2.1 Measures of Development
- 8.2.2 Factors Influencing Growth & Development
- 8.2.3 Barriers to Development
- 8.2.4 Barriers to Development 2
- 8.2.5 A-A* (AO3/4) - The Bottom Billion
- 8.2.6 Development Strategies
- 8.2.7 Interventionist Strategies
- 8.2.8 Aid
- 8.2.9 International Institutions
- 8.2.10 International Institutions 2
- 8.2.11 End of Topic Test - Emerging & Developing
- 8.2.12 Application Questions - Developing Countries
8.4 Role of the State in the Macroeconomy
9 Examples of Global Policy