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Economics A (9EC0)
29 sections available · 87 chapters available
Free Economics A (9EC0) study notes for Pearson Edexcel A Level students. Each chapter below covers a key topic with worked examples and practice prompts you can take into the thinka app.
Nature of economics
Positive and normative economic statements
Theme 1: Nature of economics and how markets work
1.1.1-1.1.2 Economics as a social science; positive and normative statements
1.1.3 The economic problem
1.1.4 Production possibility frontiers
1.1.5 Specialisation and the division of labour
1.1.6 Free market, mixed and command economies
1.2.1-1.2.2 Rational decision making and demand
1.2.3 Price, income and cross elasticities of demand
1.2.4-1.2.5 Supply and elasticity of supply
How markets work
Demand
Elasticity of supply
Price mechanism
Theme 1: Price mechanism, market failure and government intervention
1.2.6-1.2.7 Price determination and the price mechanism
1.2.8 Consumer and producer surplus
1.2.9 Indirect taxes and subsidies
1.2.10 Alternative views of consumer behaviour
1.3.1 Types of market failure
1.3.2 Externalities
1.3.3-1.3.4 Public goods and information gaps
1.4.1-1.4.2 Government intervention and government failure
Market failure
Information gaps
Theme 2: Measures of economic performance and aggregate demand
2.1.1 Economic growth
2.1.2 Inflation
2.1.3 Employment and unemployment
2.1.4 Balance of payments
2.2.1 The characteristics of AD
2.2.2 Consumption (C)
2.2.3 Investment (I)
2.2.4-2.2.5 Government expenditure (G) and net trade (X-M)
Government intervention
Government failure
Measures of economic performance
Theme 2: Aggregate supply, national income and the multiplier
2.3.1 The characteristics of AS
2.3.2 Short-run AS
2.3.3 Long-run AS
2.4.1 National income
2.4.2 Injections and withdrawals
2.4.3 Equilibrium levels of real national output
2.4.4 The multiplier
Theme 2: Economic growth, macroeconomic objectives and policies
2.5.1 Causes of growth
2.5.2 Output gaps
2.5.3 Trade (business) cycle
2.5.4 The impact of economic growth
2.6.1 Possible macroeconomic objectives
2.6.2 Demand-side policies
2.6.3 Supply-side policies
2.6.4 Conflicts and trade-offs between objectives and policies
Aggregate demand (AD) Subject
Net trade (X-M)
Aggregate supply (AS)
Theme 3: Business growth, objectives, revenues and costs
3.1.1 Sizes and types of firms
3.1.2 Business growth
3.1.3 Demergers
3.2.1 Business objectives
3.3.1 Revenue
3.3.2 Costs
3.3.3 Economies and diseconomies of scale
3.3.4 Normal profits, supernormal profits and losses
National income
Theme 3: Market structures, labour market and government intervention
3.4.1 Efficiency
3.4.2-3.4.3 Perfect competition and monopolistic competition
3.4.4 Oligopoly
3.4.5-3.4.6 Monopoly and monopsony
3.4.7 Contestability
3.5.1-3.5.2 Demand for and supply of labour
3.5.3 Wage determination in competitive and non-competitive markets
3.6.1-3.6.2 Government intervention and its impact
Theme 4: International economics
4.1.1 Globalisation
4.1.2-4.1.3 Specialisation, trade and the pattern of trade
4.1.4 Terms of trade
4.1.5 Trading blocs and the World Trade Organisation (WTO)
4.1.6 Restrictions on free trade
4.1.7 Balance of payments
4.1.8 Exchange rates
4.1.9 International competitiveness
Macroeconomic objectives and policies
Theme 4: Poverty, development, the financial sector and the state
4.2.1-4.2.2 Poverty and inequality
4.3.1 Measures of development
4.3.2 Factors influencing growth and development
4.3.3 Strategies influencing growth and development
4.4.1-4.4.2 Financial markets and market failure in the financial sector
4.4.3 Role of central banks
4.5.1-4.5.2 Public expenditure and taxation
4.5.3-4.5.4 Public sector finances and macroeconomic policies in a global context
Business growth
Business objectives
Revenues, costs and profits
Market structures
Monopolistic competition
Monopsony
Labour market
Supply of labour
Government intervention
The impact of government intervention
International economics
Pattern of trade
Poverty and inequality
Inequality
Emerging and developing economies
The financial sector
Market failure in the financial sector
Role of the state in the macroeconomy
Taxation
Macroeconomic policies in a global context
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