Economics

Course summary

WHAT YOU WILL BE TAUGHT: Microeconomics - The Basic Economic Problem - Opportunity Cost - Specialization and Trade - Supply and Demand and the Interaction of Markets - Elasticity - Market Failure and Externalities - Government Intervention - The Concept of the Margin (A level only) - Costs and Economics of Scale (A level only) - Market Structures and the Implications for the Way Resources are Allocated (A level only) - Objectives of Firms (A level only) - Labor Markets and Wage Determination (A level only) - Labor Market Failure (A level only) Macroeconomics - Economic Growth - Unemployment - Inflation - The Circular Flow of Income - Aggregate Demand and Supply - Fiscal Policy - Monetary Policy - Supply Side Policy - Policy Conflicts - International Trade - Balance of Payments - Exchange Rates - Development Economics (A level only) - Globalization (A level only) - Income Distribution and Welfare (A level only) - The Economic Cycle (A level only) - The Phillips Curve (A level only) - Trade Policies and Negotiations (A level only) - The Role of the Financial Sector (A level only)