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Introductory material
Approaches to teaching and learning
1 Scarcity, choice and opportunity cost
2 Economic methodology
3 Factors of production
4 Resource allocation in different economic systems
5 Production possibility curves
End-of-unit 1 exam-style questions – Answers
6 Classification of goods and services
7 Demand and supply curves
8 Price elasticity, income elasticity and cross-elasticities of demand
9 Price elasticity of supply
10 The interaction of demand and supply
11 Consumer and producer surplus
End-of-unit 2 exam-style questions – Answers
12 Reasons for government interventions in markets
13 Methods and effects of government interventions in markets
14 Addressing income and wealth inequality
End-of-unit 3 exam-style questions – Answers
15 National income statistics
16 Introduction to the circular flow of income
17 Aggregate demand (AD) and aggregate supply (AS) analysis
18 Economic growth
19 Unemployment
20 Price stability
End-of-unit 4 exam-style questions – Answers
21 Government macroeconomic policy objectives
22 Fiscal policy
23 Monetary policy
24 Supply-side policy
End-of-unit 5 exam-style questions – Answers
25 The reasons for international trade
26 Protectionism
27 Current account of the balance of payments
28 Exchange rates
29 Policies to correct imbalances in the current account of the balance of payments
End-of-unit 6 exam-style questions – Answers
30 Utility
31 Indifference curves and budget lines
32 Efficiency and market failure
33 Private costs and benefits, externalities and social costs and benefits
34 Types of cost, revenue and profit, short-run and long-run production
35 Different market structures
36 Growth and survival of firms
37 Differing objectives and policies of firms
End-of-unit 7 exam-style questions – Answers
38 Government policies to achieve efficient resource allocation and correct market failure
39 Equity and redistribution of income and wealth
40 Labour market forces and government intervention
End-of-unit 8 exam-style questions – Answers
41 The circular flow of income
42 Economic growth and sustainability
43 Employment and unemployment
44 Money and banking
End-of-unit 9 exam-style questions – Answers
45 Government macroeconomic policy objectives
46 Links between macroeconomic problems and their interrelatedness
47 Effectiveness of policy options to meet all macroeconomic objectives
End-of-unit 10 exam-style questions – Answers
48 Policies to correct disequilibrium in the balance of payments
49 Exchange rates
50 Economic development
51 Characteristics of countries at different levels of development
52 Relationship between countries at different levels of development
53 Globalisation
End-of-unit 11 exam-style questions – Answers
54 Preparing for assessment
Acknowledgements
Copyright information.