
Note :
| Topic | Sub-topics |
|---|---|
|
Topic 1- The Basic Economic Problem
|
1.1 The nature of the basic economic problem 1.4 Production possibility curve (PPC) diagrams
|
| Topic 2 The Allocation of Resources |
2.1 The role of markets in allocating resources 2.5 Price changes 2.6 Price elasticity of demand (PED) 2.7 Price elasticity of supply (PES) 2.8 Market economic system 2.9 Market failure 2.10 Mixed economic system |
| 3 Microeconomic decision makers |
3.1 Money and banking 3.2 Households 3.3 Workers 3.4 Trade unions 3.5 Firms 3.6 Firms and production 3.7 Firms’ costs, revenue and objectives 3.8 Market structure |
| 4 Government and the macroeconomy |
4.1 The role of government 4.2 The macroeconomic aims of government 4.3 Fiscal policy 4.4 Monetary policy 4.5 Supply-side policy 4.6 Economic growth 4.7 Employment and unemployment 4.8 Inflation and deflation
|
| 5 Economic development |
5.4 Differences in economic development between countries
|
|
6 International trade and globalisation
|
6.1 Specialisation and free trade 6.2 Globalisation and trade restrictions 6.4 Current account of balance of payments
|
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