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ADVANCED LEVEL ECONOMICS: SCHEME OF WORK September 2015 This scheme is intended for use with students following the AQA Economics Specification 7136. AIMS

1. develop an interest in and enthusiasm for the subject

2. appreciate the contribution of economics to the understanding of the wider economic and social environment 3. develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts 4. use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist 5. understand that economic behaviour can be studied from a range of perspectives 6. develop analytical and quantitative skills, together with qualities and attitudes which will equip them for the challenges,

opportunities and responsibilities of adult and working life OBJECTIVES 1. Students should acquire knowledge of

i. the main theories and concepts of economics;

ii. the methods used by economists;

iii. the main sources of information on economic matters;

iv. the main methods of presenting information on economic matters;

v. the vocabulary of economics;

vi. the relevant facts on contemporary economic debates, issues and institutions.

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2. Students should acquire the ability to

i. understand and interpret economic information presented in verbal, numerical and graphical form and to translate such

information from one form to another;

ii. explain contemporary economic events and debates in terms of the relevant economic theories;

iii. organise and present economic ideas and statements in a clear, logical, concise and appropriate form;

iv. select and apply economic theories and concepts to economic problems presented in a novel manner;

v. understand the limitations of economic models;

vi. evaluate economic arguments and evidence, making informed judgements;

vii. appreciate the role of the main economic theories and concepts in the analysis of economic problems and issues;

viii. distinguish between statements of fact and statements of value;

ix. distinguish between the concepts of association and causation.

In general the course will be taught in the context of the UK economy and its institutions, although where appropriate, information on the European Union and other national economies will be used. Students will require a good knowledge of developments in the UK economy and government policies over the past fifteen years. In this way students will be given the opportunity to apply economic theories and concepts to current problems and issues. The course will be divided into two sections, each taught by a different member of the Department

a) microeconomic theory and applications

b) macroeconomic theory and applications.

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Textbooks to be issued to students Economics for AQA (6th edition): A. Anderton (And)

The UK Economy 2005-2015: N. Fyfe and A. Threadgould (Fyfe)

Additional resources

AS A – Z worksheets (A-Z)

A2 A – Z worksheets (A-Z)

Digital resources

In italics and listed in full at end of scheme of work

DVD and e-stream resources

* for DVDs and e for e-stream

Examination dates 2016

Paper 1: microeconomics 16th May 2016

Paper 2: macroeconomics: 23rd May 2016

Review date: July 2016

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MICROECONOMICS (AS LEVEL) LOWER SIXTH YEAR Autumn Term Resources 1. Economic methodology and the economic problem i Economic problem of scarcity - definition of scarcity And 3 - economic and free goods Tutor2u1presentation - environment as a scarce resource Tutor2u1quiz ii Economic resources - classification of factors of production And 3

RWV 3* Economic resources(Cove)*

iii Choice and opportunity cost - relationship of scarcity to choice & resource allocation And 3 iv The nature and purpose of economic activity - production of products to satisfy needs & wants And 3 - definition of production - definition of consumption - key decisions of what, how & for whom to produce v Economic decision making - the importance of the margin when making choices And 7 - rational economic decision making & economic incentives:

maximisation objectives of firms, individuals & government

- range of objectives of firms - economic & non-economic considerations - internal costs & benefits - external costs & benefits - social costs & benefits - effect of economic decisions on the environment vi Production possibility frontiers - derivation & shape And 4 - relationship with scarcity & resource allocation A-Z sheet 1-3 - relationship with unemployment - choice, trade-offs & opportunity cost

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- frontier shifts & economic growth - economic efficiency & PPF: allocative & productive vii Economic methodology - economics as a social science And 1 - similarities to & differences from natural & other sciences (models,

etc) Economics Online1

ESCR website

- positive & normative statements A-Z sheet 6-7 Youtube1positve/normative

- role of value judgements in decision making & policy - the influence of moral, political & other factors on economic decisions 2. Price determination in a competitive market i Introduction to economic systems as way of allocating scarce resources - free market economy And 6 - command economy A-Z sheet 5 - mixed economy Inside North Korea ii Specialisation - division of labour by product & by process And 5 - benefits of specialisation A-Z sheet 4 - specialisation & exchange: barter, money & markets Tutor2u2quiz

RWV 2* iii Definition of demand - idea of effective demand And 8 iv Factors influencing demand - price & Law of Demand (extension/contraction) And 8 - conditions of demand (increase/decrease) A-Z sheet 8-10 - demand schedules & curves Tutor2u2presentation

- individual & market demand curves - distinction between movement along curve and shift in curve v Consumer surplus - definition And 8 - relationship with demand curve A-Z sheet 28-30 - causes of changes Tutor2u9presentation Half term

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vi Elasticity of demand - price elasticity (formula, calculation, determinants & significance) And 9 Tutor2u3presentation Tutor2u3quiz

- relationship between price elasticity & total revenue A-Z sheet 11-15 - income elasticity (formula, calculation, determinants & significance):

normal & inferior goods And 10 A-Z sheet 16-17 Tutor2u4presentation

- cross elasticity (formula, calculation, determinants & significance): substitute & complementary goods

And 10 A-Z sheet 18-19 Tutor2u5presentation Tutor2u4quiz

vii Definition of supply And 11 viii Factors influencing supply - price & Law of Supply (extension/contraction): higher prices imply

higher profits & an incentive to expand supply And 11 A-Z sheets 20-21

- conditions of supply (increase/decrease) Tutor2u6presentation - supply schedules & curves - individual & market supply curves - distinction between movement along curve and shift in curve ix Producer surplus* - definition* And 11 - relationship with supply curve* A-Z sheet 29-30 - causes of changes* Tutor2u9presentation x Elasticity of supply - price elasticity (formula, calculation, determinants & significance) And 11

A-Z sheet 22-13 Tutor2u7presentation Tutor2u20revisionvideo

xi Market equilibrium - definition of market And 12 - equilibrium price & quantity A-Z sheet 25-27 - market disequilibrium (excess demand & supply) Tutor2u8presentation

- causes of price changes The housing market* - significance of elasticities Markets(Cove)*

Tutor2u9revisionvideo

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xii Interrelationship between markets - substitute goods And 13 - complement goods - composite demand - derived demand - joint supply 3. Production, costs and revenue i Production and productivity - definitions of production & productivity And 5 - determinants of productivity including division of labour ii Costs of production - reasons firms incur costs (explicit & implicit costs) And 16 - difference between fixed & variable costs A-Z sheet 4 - difference between & calculation of total & average costs - difference between short run & long run - cost curve diagrams for fixed, variable & total costs (no derivation

required)

- U-shaped average costs curve diagrams (no derivation required) Spring Term iii Economies of scale - definition of economies of scale And 16 - internal & external economies Tutor2u10presentation - causes of economies of scale A-Z sheet 7 - definition of diseconomies of scale - causes of diseconomies of scale - link economies & diseconomies to U-shaped long run average cost curve iv Revenue - difference between total & average revenue And 16 - link between average revenue & demand curve A-Z sheet 8 v Profit - definition of profit And 16 - calculation of profit

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4. Competitive and concentrated markets i Market structures - spectrum of market structures (perfect competition → monopoly) And 17, 49 - characteristics of market structures: number of firms nature of product state of knowledge freedom of entry & exit level of interdependence ii Objectives of firms - profit maximisation And 17 - other objectives (eg survival, growth & increasing market share) - how objectives affect behaviour of firms iii Competitive markets - main characteristics of perfect competition And 17 - interaction of demand & supply to determine price - reason profit is likely to be lower in competitive than concentrated market - non-price methods of competition iv Monopoly and monopoly power - difference between pure monopoly & monopoly power And 18 - assumptions &sources of monopoly power - definition & calculation of concentration ratios - costs of monopoly: higher price, lower output, exploitation reduced choice & product quality resource misallocation - potential benefits from monopoly: economies of scale invention & innovation Half term 5. The market mechanism, market failure & government intervention in markets i How markets and prices allocate resources - rationing, signalling, incentives functions of prices in

resource allocation And 19 Tutor2u11presentation

- price mechanism & resolution of the basic economic problem in a market economy

Understanding the market system*

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ii The meaning of market failure - definition of market failure in terms of resource misallocation And 20 - meaning of resource misallocation A-Z sheet 34, 41-42 - difference between total & partial market failure Tutor2u12presentation - identify areas of market failure: public goods Market Failure (Cove)* positive & negative externalities merit & demerit goods monopoly & market imperfections income & wealth inequalities iii Public, private & quasi-public goods - definition of public goods: non-rivalry & non-excludability And 23 - difference between public & private goods A-Z sheet 38 - definition of quasi-public good - free rider problem & missing markets - technological change altering the status of goods - tragedy of the commons* iv Externalities - definition of externality as divergence between private & social costs & benefits And 21 - difference between consumption & production externalities A-Z sheet 35-37 - consequences of externalities in terms of over & under production Tutor2u14presentation - marginal cost & benefit diagrams to illustrate externalities* Tutor2u15presentation - absence of property right as a cause of externalities* v Merit and demerit goods - definitions of merit & demerit goods And 23 - links with externalities & imperfect information Tutor2u16presentation - market under & over provision of merit & demerit goods Tutor2u17presentation - marginal cost & benefit diagrams to illustrate merit & demerit goods* Tutor2u4quiz vi Market imperfections - why imperfect & asymmetric information can lead to market failure And 22 - why monopoly & monopoly power can lead to market failure Tutor2u18presentation - why immobility of factors of production can lead to market failure A-Z sheet 39-40 vii Income and wealth inequality - reasons for inequality in market economies And 20 - inequality as a source of unsatisfactory resource allocation And 20

Youtube2 inequality Youtube3 inequality

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Summer Term viii Government intervention in markets - market failure as justification for intervention And 24 - resource re-allocation via taxation, government spending

& regulation

- government objectives & intervention in mixed economy ix Specific methods of intervention to correct market failure - indirect taxation And 14, 24

- subsidies Tutor2u3revisionvideo

- price controls A-Z sheet 25-48 - state provision Tutor2u19presentation - state regulation Tutor2u20presentation - tradable pollution permits* - extended property rights* Tutor2u5quiz x Government failure - definition And 25 - sources of failure: inadequate information A-Z sheet 50 conflicting objectives Tutor2u21presentation administrative cost Tutor2u19revisionvideo regulatory capture - consequences of failure: worsening welfare & unintended consequences market distortions Revision

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MACROECONOMICS (AS LEVEL) LOWER SIXTH YEAR Autumn Term 1. The circular flow of income i National income - definition And 26, 28 - measurement A-Z sheet 52 - difference between nominal & real income Tutor2u22presentation - real national income as an indicator of economic performance ii The circular flow model - households, firms & the notion of the income flow And 27, 32 - national income = national output = national expenditure A-Z sheet 55 - injections & leakages Tutor2u6quiz - aggregate demand & its components The operation of an

economy* - equilibrium & disequilibrium - the multiplier concept - multiplier formula based on marginal propensity to consume* Youtube10 mpc & multilier 2. The economist’s tool kit i Data skills - types of data: time series & cross-section And 2 discrete & continuous A-Z sheet 53-54 - identification of trends, cycles, etc. ONS website - fractions, percentages, proportions - rates of change - averages - index construction & interpretation - index numbers calculations of changes in economic variables - real & nominal values in context of GDP

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- methods of presentation: bar chart pie chart line graph - data sources & collection - data used to measure macroeconomic performance (GDP, GDP per capita,

CPI/RPI, unemployment, current A/C balance, productivity, etc)

ii Forecasting - reasons for forecasting - methods of forecasting 3. The objectives of government economic policy i Main objectives of policy - price stability And 44 - minimising unemployment A-Z sheet 51 - economic growth - satisfactory balance of payments on current account ii Other objectives - balancing the budget - boosting productivity - income redistribution iii Conflicts of policy - inflation v full employment A-Z sheet 81 - balance of payments v full employment - stop-go economics iv Prioritisation of objectives over time - changing priorities to reflect changing economic conditions v Constraints on policy - limited number of policy instruments - EU membership Half term

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4. How the macroeconomy works: aggregate demand and aggregate supply and related concepts i Aggregate demand - definition & composition And 32

A-Z sheet 57, 63 - determinants of consumption expenditure & propensity to consume And 29

A-Z sheet 58 Fyfe ch.2 Tutor2u24presentation

- determinants of savings And 29 Fyfe ch.2

- determinants of investment expenditure (including accelerator) And 30 A-Z sheet 59 Fyfe ch.3 Tutor2u25presentation Tutor2u22revisionvideo

- difference between savings & investment - determinants of government expenditure And 30

A-Z sheet 60 - determinants of export expenditure And 31

A-Z sheet 61 - determinants of import expenditure And 31

A-Z sheet 61 - derivation of aggregate demand curve And 32 - movement along aggregate demand curve & price level changes Tutor2u23presentation

Tutor2u7quiz - causes of shifts in aggregate demand curve A-Z sheet 62 ii. Aggregate supply - definition And 34 - determinants of short run aggregate supply (money wages, business

taxation, productivity, etc) Tutor2u26presentation

- derivation of short run aggregate supply curve A-Z sheet 64 - causes of shifts in the short run aggregate supply curve

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- determinants of long run aggregate supply (technology, productivity, attitudes, enterprise, factor mobility, economic incentives, etc).

- importance of institutional structure in determining aggregate supply (eg role of banks in providing business investment funds)*

- derivation of long run aggregate supply curve: classical/ monetarist A-Z sheet 66 Keynesian* A-Z sheet 65 - movement along aggregate supply curve & price level changes - causes of shifts in long run aggregate supply curve A-Z sheet 67

Tutor2u9quiz iii. Aggregate demand & supply - equilibrium in the model And 35 - effects of shifts in aggregate demand & supply on equilibrium

level of economic activity A-Z sheet 68-69 Tutor2u1revisionvideo

- difference between Keynesian & monetarist view of effects of shifts in aggregate demand & supply*

- shifts in aggregate demand & multiplier process And 33, 35 A-Z sheet 70 A-Z sheet 88 Tutor2u8quiz

- underlying economic growth as a shift right in LRAS - effects of demand & supply side shocks on main

macroeconomic objectives

Spring Term 5. Macroeconomic policy Candidates need a good knowledge of UK government policies over the past 15 years i Monetary policy - definition And 42 - instruments of monetary policy: interest rates Tutor2u27presentation supply of money & credit Tutor2u10quiz exchange rate Tutor2u21revisionvideo

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- current objectives of monetary policy - role of Monetary Policy Committee of Bank of England & use of interest rates to

achieve target rate of inflation A-Z sheet 71-74 Fyfe ch.9

- factors considered by Monetary Policy Committee when setting bank rate Bank of England website - effect of exchange rate changes on aggregate demand & macroeconomic policy

objectives

ii Fiscal policy - definition And 41 - main areas of government expenditure A-Z sheet 75-77 - reasons for government expenditure Fyfe ch.10 - main sources of government income Tutor2u28presentation - reasons for taxation HM Treasury website - difference between direct & indirect taxation - difference between progressive, regressive & proportional taxation - how government spending & taxation can affect the pattern of economic activity - the budget, budget balance & national debt Youtube4 UK debt - influence of the budget on aggregate demand - influence of the budget on aggregate supply - macroeconomic & microeconomic functions of fiscal policy Youtube5 Keynes v Hayek iii Supply side policy - definition And 43

Tutor2u29presentation Tutor2u18revisionvideo

- difference between supply side policy & supply side improvement in economy A-Z sheet 78-80 Tutor2u30presentation

- how supply side policies help achieve supply side improvements Fyfe ch.6 - public sector supply side policy measures (eg tax changes to alter incentives,

education & training spending, welfare reform & industrial policy) Tutor2u11quiz Tutor2u12quiz

- private sector supply side initiatives (eg productivity improvements, innovation & investment)

- effect of supply side policies on economic growth rate

- effect of supply side policies on unemployment, inflation & balance of payments

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Half term

6. Performance of the UK Economy Candidates need a good knowledge of developments in the UK economy over the past 15 years

Tutor2u14revisionvideo

i Economic growth - definition And 36, 37 - measurement BBC economy tracker - distinction between short run & long run economic growth Tutor2u31presentation - link to PPF and LRAS curve shifts Tutor2u13quiz - causes of economic growth: demand side determinants Tutor2u2revisionvideo supply side determinants - policy measures to promote economic growth - UK performance & comparison with other countries Fyfe ch.1 ii The Economic Cycle - definition & phases of the cycle And 36 - economic indicators (GDP, inflation, unemployment, investment, etc) that

identify phases of cycle Fyfe ch.1 The credit crunch*

- demand & supply side shocks to the economy BBC economy tracker - positive & negative output gaps & the economic cycle Tutor2u32presentation - output gaps, actual GDP & productive potential iii Inflation and deflation - definitions of inflation, deflation & disinflation And 38 - measurement (CPI & RPI) A-Z sheet 86-87 - significance of output gap for inflation & deflation BBC economy tracker - causes: demand-pull Tutor2u34presentation cost-push (world commodity prices & domestic inflation) Youtube6 Inflation monster - how changes in other economies can affect UK inflation Tutor2u15quiz - policy measures to tackle inflation & deflation - UK performance & comparison with other countries Fyfe ch.8 iv Employment and unemployment - definitions And 39 - measurement (LFS & claimant count) A-Z sheet 89-90 - significance of output gap for unemployment & employment BBC economy tracker - causes: demand side (cyclical) Tutor2u33presentation

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supply side (frictional, structural & seasonal) Tutor2u14quiz - unemployment & PPF & AD/AS diagrams - how changes in rest of world affect UK unemployment &

employment

- policy measures to tackle unemployment - UK performance & comparison with other countries Fyfe ch.7 Summer Term v Balance of payments - structure of current account And 40 - deficit & surplus on current account A-Z sheet 92-94 - impact on current account of domestic economic: strengths (eg improving

labour productivity) Fyfe ch.5

weaknesses (eg rising inflation rate)

Tutor2u35presentation Tutor2u16quiz

- importance of international trade for UK economy - UK performance & comparison with other countries - exchange rates: definition Tutor2u36presentation - effect of exchange rate changes on: balance of payments current account output & employment inflation vi Possible conflicts between macroeconomic policy objectives - how policies may be used to

reconcile possible conflicts in short & long run

Tutor2u37presentation

Revision

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MICROECONOMICS (A LEVEL) LOWER SIXTH Summer Term 1. Individual economic decision making i Consumer behaviour - rational economic decision making & economic incentives* And 7 - utility theory: total & marginal utility Neweconomicfoundation1 diminishing marginal utility Youtube7What is utility maximisation behavioural economics? the importance of the margin in decision making* ii Imperfect information - importance of information for decision making - significance of asymmetric information iii Aspects of behavioural economic theory - bounded rationality & bounded self-control And 15 - biases in decision making: rules of thumb Socialsciencespace1 anchoring availability social norms - importance of altruism & perceptions of fairness iv Behavioural economics & economic policy - choice architecture & framing And 15 - nudges Youtube8What is a nudge? - default choices, restricted choice & mandated choice Behavioural insights

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UPPER SIXTH Autumn Term 2. Production, costs and revenue i The production function - definition & calculation of total, average & marginal product/return And 45 - short run function : law of diminishing returns Youtube9diminishingreturns - long run function : returns to scale (increasing, decreasing & constant) ii Costs of production - revise definition & calculation of fixed cost & variable cost And 46 - revise definition & calculation of average & total cost - definition & calculation of marginal cost - revise difference between short run & long run costs iii Cost curves - link between factor inputs & costs via factor markets And 46 - derivation of short run cost curves (TFC, TVC, TC, AFC, AVC, ATC & MC) A-Z sheet 4-7 - derivation of long run costs curves (TC, ATC, MC) Tutor2u38presentation - how factor prices & productivity affect firms’ costs & their choice of factor inputs - revision of economies & diseconomies of scale Tutor2u39presentation - relationship between returns to scale & economies & diseconomies of scale - U-shaped and L-shaped long run average cost curves - productive efficiency & minimum efficient scale (MES) - implications of MES for industry structure - implications of MES for entry into industry iv Revenue - revise definition & calculation of total & average revenue And 47 - definition & calculation of marginal revenue A-Z sheet 8-9 - relationship between average & marginal revenue Tutor2u40presentation - relationship between total & marginal revenue Tutor2u16quiz v Revenue curves - derivation of revenue curves for perfect competition (TR, AR & MR) And 47 vi Profit - revise definition & calculation of profit And 48 - difference between normal & abnormal(supernormal) profit A-Z sheet 10-11 - role of profit in a market economy Tutor2u41presentation

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vii Technological change - difference between invention & innovation And 59 - impact of technological change on: methods of production productivity efficiency costs of production - technological change & development of new products & markets - technological change & destruction of existing markets - technological change & changing market structure 3. Perfect competition, imperfectly competitive markets and monopoly i The objectives of firms - traditional assumption of profit maximisation & its condition (MC=MR) And 55 - divorce of ownership from control A-Z sheet 13-15 - emergence of stakeholders Tutor2u16revisionvideo - profit satisficing & alternative theories on objectives of firms Half term ii Perfect competition - assumptions of model And 50 - firm as a price taker A-Z sheet 16-18 - short run equilibrium Tutor2u42presentation - long run equilibrium Tutor2u17quiz - derivation of the firm’s supply curve (S=MPC) Tutor2u10revisionvideo - allocative & productive efficiency And 56 iii Monopolistic competition - assumptions of model And 52 - short run equilibrium A-Z sheet 22 - long run equilibrium - non-price competition

- allocative & productive efficiency

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iv Oligopoly - assumptions of model And 53 - variation in oligopoly based on number of firms, level of product differentiation, etc A-Z sheet 23, 25-26 - definition in terms of market structure or market conduct/behaviour Tutor2u43presentation - significance of interdependence & uncertainty - revise concentration ratios - revenue curves under oligopoly (kinked demand curve) - short run equilibrium - long run equilibrium - allocative & productive efficiency - non-price competition - difference between collusive and non-collusive oligopoly - difference between co-operation & collusion - collusion (cartels, price leadership & other anti-competitive practices) - factors influencing price, output, investment, advertising & research spending in

oligopoly

- advantages & disadvantages of oligopoly v Monopoly - revise assumptions of model And 51 - revise sources of monopoly power A-Z sheet 19-20 - firm as a price maker Tutor2u44presentation - derivation of revenue curves under monopoly Tutor2u45presentation - short run equilibrium Tutor2u11revisionvideo - long run equilibrium

- allocative & productive efficiency (deadweight loss) And 56, 57 - factors influencing power of monopoly: barriers to entry, advertising, etc - advantages & disadvantages of monopoly vi Price discrimination - conditions for price discrimination And 51

Tutor2u46presentation

- advantages & disadvantages of price discrimination A-Z sheet 21 Tutor2u18quiz

vii Dynamics of competition - short run benefits from competition - long run benefits from competition

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- different aspects of competition (price, product quality, cost cutting, etc)

- process of creative destruction Spring Term viii Contestable markets - assumptions of contestable market theory And 54 - significance of contestable markets for performance of industry A-Z sheet 31 - contestability & sunk costs Tutor2u47presentation - contestability & ‘hit & run’ competition - contestability & efficiency ix Market structure and efficiency - conditions for productive & allocative efficiency And 56 - difference between static & dynamic efficiency Tutor2u48presentation - dynamic efficiency & its determinants (R&D, investment in

human capital, new technology, etc) Tutor2u19quiz

x Consumer and producer surplus - application of consumer & producer surplus to efficiency & welfare issues: deadweight losses of monopoly & other market failures

xii Competition policy - perfect competition v monopoly And 61 - UK competition policy A-Z sheet 34-35

- EU competition policy A-Z sheet 36 - costs & benefits of competition policy Tutor2u49presentation

Tutor2u14revisionvideo xiii Public ownership and privatisation - case for & against public ownership And 61 - case for & against privatisation A-Z sheet 37 - case for & against regulation of markets A-Z sheet 38-41

- case for & against de-regulation of markets - UK privatisation policy: denationalisation

competitive tendering internal markets

public private partnership

- problem of regulatory capture

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Half term 4. The Labour Market i The demand for labour - labour’s derived demand And 63 - marginal revenue product (MRP) & labour demand curve A-Z sheet 43 - causes of shifts in MRP curve Tutor2u50presentation - elasticity of demand for labour ii The supply of labour - individual worker’s supply curve And 64 - supply curve for an occupation A-Z sheet 44 - causes of shifts in supply curve (monetary & non-monetary factors) Tutor2u51presentation - elasticity of supply of labour iii Wage determination - perfectly competitive labour market equilibrium wage & employment And 65

Tutor2u52presentation - labour markets & wage differentials Tutor2u53presentation - sources of labour market imperfections: trade unions A-Z sheet 45 monopsony employers iv Trade unions - definition & functions of trade union And 65 - influence of trade union on perfectly competitive labour market A-Z sheet 46 - factors affecting trade union’s ability to influence wages & employment Tutor2u54presentation v Monopsony employers - definition of monopsony And 65 - influence of monopsony on perfectly competitive labour market A-Z sheet 46 - factors affecting monopsonist’s ability to influence wages (eg presence of

a trade union) Tutor2u55presentation

Summer Term vi Discrimination in labour markets - conditions for wage discrimination And 67 - impact of gender, ethnicity & age discrimination on wage &

employment levels

vii The national minimum wage - reasons for national minimum wage And 67 - effects of national minimum wage on labour markets A-Z sheet 47

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- advantages & disadvantages of national minimum wage Tutor2u56presentation viii The distribution of income and wealth - difference between income & wealth And 68 - Lorenz curve & Gini coefficient Fyfe ch.4 - UK income distribution Tutor2u57presentation - UK wealth distribution Tutor2u58presentation - factors influencing income & wealth distributions Tutor2u13revisionvideo ix Equity - difference between equity & equality in relation to income & wealth distribution And 68 - different views on ‘fairness’ - difference between horizontal & vertical equity - costs & benefits of more equal & more unequal income & wealth distributions

x Poverty - difference between relative & absolute poverty And 68 Poverty UK Oxfam

- causes & effects of poverty A-Z sheet 48, 50 - approaches to alleviate poverty Fyfe ch.4 xi Income and wealth redistribution - policies to redistribute income & wealth And 69

Tutor2u59presentation - consequences of redistribution policies A-Z sheet 49 Revision

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MACROECONOMICS (A LEVEL) LOWER SIXTH Summer Term 1. Economic Growth and Cyclical Instability i Use of National Income - revise national income And 28 - measuring living standards over time Fyfe ch.4 - international comparison of living standards Tutor2u61presentation - importance of using PPP exchange rate in international comparisons Youtube11Happyplanetindex - limitations of National Income as indicator of living standards - other measurements of living standards (include HDI) ii Economic Growth - revise definition & measurement And 36, 37 - revise causes A-Z sheet 81 - revise supply side determinants of long run trend growth rate (investment,

technology, education & training) Fyfe ch.1 Rethinking economic growth*

- costs & benefits of economic growth BBC economy tracker Tutor2u60presentation

- sustainability of growth Tutor2u31presentation - impact of growth on individuals, economy & environment Tutor2u2revisionvideo

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UPPER SIXTH Autumn Term ii The Economic Cycle - revise phases of the economic cycle And 70 - revise economic cycle & output gaps BBC economy tracker - causes of the economic cycle: Tutor2u32presentation endogenous models exogenous models (demand & supply shocks) 2. Inflation and Unemployment i Unemployment - revise definition & measurement And 39 - revise causes (demand & supply side) A-Z sheet 83 - voluntary & involuntary unemployment Fyfe ch.7 - concept of real wage unemployment & its determinants BBC economy tracker ii Consequences of unemployment - for individuals & whole economy Tutor2u62presentation iii The Natural Rate of Unemployment - definition And 73 - determinants - policy implications

iv Phillips Curve - definition And 73 - short run curve A-Z sheet 91-92 - long run, L-shaped, curve Tutor2u63presentation - expectations augmented Phillips Curve - implications of Phillips Curve for economic policy v Inflation and Deflation - revise definitions & measurement And 38

Tutor2u64presentation BBC inflation calculator Tutor2u67presentation

- revise causes (demand & supply side - apply AD/AS) A-Z sheet 82 Fyfe ch.8

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- Fisher’s equation of exchange & quantity theory of money/monetarist model of inflation

And 76 A-Z sheet 86

- effects of expectations on changes in the price level BBC economy tracker vi Consequences of inflation and deflation - for individuals & whole economy Tutor2u66presentation Half term 3. Financial markets and monetary policy i The structure of financial markets and financial

assets - functions & characteristics of money And 75

- definition & measurement of money supply - difference between narrow & broad money - difference between money market, capital

market & foreign exchange market

- role of financial markets in wider economy - difference between debt & equity - inverse relationship between bond prices &

interest rates

ii Commercial banks and investment banks

- difference between a commercial & investment banks And 77 Youtube18

- main functions of a commercial bank - structure of commercial bank balance sheet - objectives of commercial bank: liquidity profitability security - conflicts between commercial bank objectives - credit creation by commercial banks

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iii Central banks and monetary policy

- main functions of a central bank A-Z sheet 84-85 Youtube17

- outline of demand for money - rate of interest as the price of money And 75

BBC economy tracker - reasons for different interest rates - revise role of Monetary Policy Committee Tutor2u65presentation - revise factors considered when setting interest rate Bank of England website - monetary transmissions mechanism And 76 - how Bank of England influences growth of the money supply Tutor2u68presentation - objectives of monetary policy - instruments of monetary policy - limitations of monetary policy - recent UK monetary policy Fyfe ch.9 iv The regulation of the financial system - UK financial regulation: Bank of England And 78 Prudential Regulation Authority (PRA) Financial Policy Committee (FPC) Financial Conduct Authority (FCA) - reasons for bank failure: borrowing short V lending long - liquidity & capital ratios & their impact on financial

stability

- moral hazard - systemic risk & impact of problems in financial markets

on the real economy

iv Fiscal policy - revise definition of fiscal policy & its microeconomic & macroeconomic functions And 41 - revise impact of fiscal policy on aggregate demand & aggregate supply A-Z sheet 87 - revise types of & reasons for government spending And 72

Tutor2u69presentation - revise reasons for taxation HM Treasury website - revise types of taxation: direct & indirect And 71 progressive, regressive & proportional Tutor2u70presentation - canons/principles of taxation A-Z sheet 93

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- taxation, inefficiency & inequality A-Z sheet 98 - role & relative merits of different UK taxes - the budget: automatic stabilisers & discretionary policy And 74 microeconomic effects of budget A-Z sheet 94-95 macroeconomic effects of budget Tutor2u72presentation

effects of deficit, surplus & balanced budgets - cyclical & structural budget deficits & surpluses A-Z sheet 96 - significance of size of the national debt Tutor2u71presentation

Indebt we trust* - interrelationship between fiscal & monetary policies And 74 - limitations of fiscal policy - recent UK fiscal policy Fyfe ch.10 - role of Office for Budget Responsibility (OBR)

Spring Term

v Supply-side policy - revision of definition And 43 - free market supply-side policies such as tax cuts, privatisation, deregulation

& labour market reforms A-Z sheet 89 Fyfe ch.6

- interventionist supply-side policies, such as government spending on education, industrial policy & subsidising research & development

Tutor2u5revisionvideo

- role of supply-side policies in reducing natural rate of unemployment - microeconomic effects of supply-side policies

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4. The International Economy i Globalisation - definition & main characteristics of globalisation And 79

Impact of globalisation* Global business* Tutor2u73presentation Youtube12globalisation Tutor2u8revisionvideo

- causes of globalisation A-Z sheet 68-69 - role of multinational corporations in globalisation - consequences of globalisation for less-developed & more-developed countries Fyfe ch.12

Impact of globalisation II* Youtube13effects of globalisation

ii Trade - absolute advantage And 80 Tutor2u74presentation

- comparative advantage A-Z sheet 51-52 - importance & limitations of absolute & comparative advantage theory Youtube14benefits of trade - benefits of specialisation & trade including economies of scale & increased competition A-Z sheet 53 - costs of specialisation & trade including unemployment & negative externalities Tutor2u20quiz - UK trading patterns: by commodity Tutor2u12revisionvideo by area reasons for changing trade patterns iii Protectionism - methods of protection And 82, 85

Tutor2u75presentation Global exchange*

- reasons for protection A-Z sheet 54-58 - effects of protection Global exchange*

Tutor2u21quiz - World Trade Organisation & progress towards free trade The global economy* Half term

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iv The European Union - main features of customs unions And 83, 84 - main characteristics of Single European Market (SEM) A-Z sheet 59 - institutional structure: European Commission Fyfe ch.11 European Central Bank Tutor2u6revisionvideo - effects of EU membership on UK economy - effects of EU enlargement on UK economy v Balance of payments - revise current account structure And 86

Tutor2u35presentation Tutor2u16quiz

- capital & financial accounts A-Z sheet 65-67 - revise deficit & surplus on current account Fyfe ch.5 - nature & effect of investment flows between countries A-Z sheet 73-74

Fyfe ch.3 - policies to correct deficits & surpluses Tutor2u7revisionvideo - difference between expenditure-switching & expenditure-reducing policies - effect policies to correct balance of payments disequilibrium have on other

macroeconomic objectives

- significance of deficits & surpluses to an economy - effects on global economy of measures to correct imbalances taken by a

major economy

vi Exchange rates - determination of floating exchange rates And 87, 88 Tutor2u76presentation

- government intervention & fixed exchange rates A-Z sheet 60-62 - advantages & disadvantages of different exchange rate systems Tutor2u77presentation - implications of different exchange rate systems for domestic economic

management Tutor2u17revisionvideo

- advantages & disadvantages for a country of currency union (UK & Eurozone) A-Z sheet 63-64 Tutor2u78presentation

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Summer Term vii Economic growth and development - difference between growth & development And 90, 91, 92 - main characteristics of less-developed economies A-Z sheet 75-80 - main indicators of economic development including

Human Development Index (HDI) Tutor2u79presentation

- factors affecting economic growth & development: investment, education & training

Youtube15global economics Youtube16

- barriers to economic growth & development: corruption, institutional factors, poor infrastructure, poor human capital & lack of property rights

Economic development* Brazil*

- policies to promote economic growth & development - role of aid and trade in promoting economic growth &

development

Revision Tutor2u4revisionvideo

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Digital Resources Economics Online1 http://www.economicsonline.co.uk/Competitive_markets/What_is_economics.html ESRC website http://www.esrc.ac.uk/about-esrc/what-is-social-science/ Youtube1 https://www.youtube.com/watch?v=z64WIkaHP4w Tutor2u1presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/BasicEconomicProblem/default.

html Tutor2u1quiz http://www.tutor2u.net/economics/quizzes/as/basiceconomicproblem1/quiz.html Tutor2u2quiz http://www.tutor2u.net/economics/quizzes/as/ppfdivoflabour1/quiz.html Inside North Korea http://news.bbc.co.uk/1/hi/programmes/newsnight/8711895.stm Tutor2u2presentation http://beta.tutor2u.net/economics/reference/how-markets-work-demand-theory Tutor2u3presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/PriceElasticityofDemand/default.html Tutor2u3quiz http://www.tutor2u.net/economics/quizzes/as/ped1/quiz.html Tutor2u4presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/IncomeElasticityofDemand/default.ht

ml Tutor2u5presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/CrossPriceElasticity/default.html Tutor2u4quiz http://www.tutor2u.net/economics/quizzes/as/iedxed1/quiz.html Tutor2u6presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/DeterminantsofSupply/default.html Tutor2u7presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/PriceElasticityofSupply/default.html Tutor2u8presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/EquilibriumMarketPrices/default.html Tutor2u9presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/ConsumerProducerSurplus/default.ht

ml Tutor2u10presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/EconomiesofScale/default.html Tutor2u11presentation http://www.aqa.org.uk/resources/economics/as-and-a-level/economics/plan/scheme-of-work-as-a-level-year-

1 Tutor2u12presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/IntroductionMarketFailure/defaul

t.html Tutor2u13presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/PublicGoods/default.html Tutor2u14presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/NegativeExternalities/default.ht

ml Tutor2u15presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/PositiveExternalities/default.html Tutor2u16presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/MeritGoods/default.html

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Tutor2u17presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/DeMeritGoods/default.html Tutor2u4quiz http://www.tutor2u.net/economics/quizzes/as/publicmeritgoods1/quiz.html Youtube2 https://www.youtube.com/watch?v=aOJ93tAbPP0 Youtube3 https://www.youtube.com/watch?v=z8jp2YPwhRw Tutor2u18presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/InformationFailures/default.html Tutor2u19presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/IndirectTaxes/default.html Tutor2u20presentation http://www.tutor2u.net/economics/presentations/aseconomics/markets/ProducerSubsidies/default.html Tutor2u21presentation http://www.tutor2u.net/economics/presentations/aseconomics/marketfailure/GovernmentFailure/default.html Tutor2u5quiz http://www.tutor2u.net/economics/quizzes/as/govtintervention1/quiz.html Tutor2u22presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/IntroductiontoMacro/default.html BBC economy tracker http://www.bbc.co.uk/news/10613201 Tutor2u6quiz http://www.tutor2u.net/economics/quizzes/as/gdpcircularflow1/quiz.html ONS website http://www.ons.gov.uk/ons Tutor2u23presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/AggregateDemand/default.html Tutor2u7quiz http://www.tutor2u.net/economics/quizzes/as/aggregatedemand1/quiz.html Tutor2u24presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/ConsumerSpending/default.html Tutor2u25presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/Investment/default.html Tutor2u8quiz http://www.tutor2u.net/economics/quizzes/as/multiplieraccelerator1/quiz.html Tutor2u26presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/AggregateSupply/default.html Tutor2u9quiz http://www.tutor2u.net/economics/quizzes/as/aggregatesupply1/quiz.html Tutor2u27presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/MonetaryPolicy/default.html Tutor2u10quiz http://www.tutor2u.net/economics/quizzes/as/monetarypolicy1/quiz.html Bank of England http://www.bankofengland.co.uk/monetary policy/

http://www.bankofengland.co.uk/education Tutor2u28presentation http://beta.tutor2u.net/economics/reference/macro-revision-aspects-of-fiscal-policy Youtube4 https://www.youtube.com/watch?v=AYVZKpH3pnM Youtube5 https://www.youtube.com/watch?v=d0nERTFo-Sk HM Treasury https://www.gov.uk/government/organisations/hm-treasury Tutor2u29presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/SupplySideEconomics/default.html Tutor2u30presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/ProductivityGrowth/default.html Tutor2u11quiz http://www.tutor2u.net/economics/quizzes/as/supplysidepolicy1/quiz.html Tutor2u12quiz http://www.tutor2u.net/economics/quizzes/as/macropolicies1/quiz.html

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Tutor2u31presentation http://beta.tutor2u.net/economics/reference/economic-growth-revision-presentation Tutor2u32presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/EconomicCycle/default.html Tutor2u13quiz http://www.tutor2u.net/economics/quizzes/as/economicgrowth1/quiz.html Tutor2u33presentation http://beta.tutor2u.net/economics/reference/unemployment-in-the-labour-market-revision-presentation Tutor2u14quiz http://www.tutor2u.net/economics/quizzes/as/unemployment1/quiz.html Tutor2u34presentation http://beta.tutor2u.net/economics/reference/inflation-and-deflation-revision-presentation Youtube6 https://www.youtube.com/watch?v=pbgY0dYoBvA Tutor2u15quiz http://www.tutor2u.net/economics/quizzes/as/inflation1/quiz.html Tutor2u35presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/BalanceofPayments/default.html Tutor2u16quiz http://www.tutor2u.net/economics/quizzes/as/balanceofpayments1/quiz.html Tutor2u36presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/ExchangeRates/default.html Tutor2u37presentation http://www.tutor2u.net/economics/presentations/aseconomics/macro/EconomicPolicyTradeOffs/default.html Youtube7 https://www.youtube.com/watch?v=wpMLYh-UIsA Youtube8 https://www.youtube.com/watch?v=BWUtLSfb9zs Socialsciencespace1 http://www.socialsciencespace.com/2013/01/daniel-kahneman-on-bias/ Neweconomicfoundation1 http://www.neweconomics.org/publications/entry/behavioural-economics Youtube9 https://www.youtube.com/watch?v=MtuCPRlTl38 Tutor2u38presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/Costs/default.html Tutor2u39presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/EconomiesDiseconomiesScale/default.h

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ml Tutor2u18quiz http://www.tutor2u.net/economics/quizzes/a2/monopoly1/quiz.html Tutor2u47presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/ContestableMarkets/default.html

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Tutor2u48presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/EconomicEfficiency/default.html Tutor2u19quiz http://www.tutor2u.net/economics/quizzes/a2/economicefficiency1/quiz.html Tutor2u49presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/CompetitionPolicyRegulation/default.ht

ml Tutor2u50presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/DemandforLabour/default.html Tutor2u51presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/SupplyofLabour/default.html Tutor2u52presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/EquilibriumWages/default.html Tutor2u53presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/LabourMarketWageDifferentials/default.

html Tutor2u54presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/LabourMarketTradeUnions/default.html Tutor2u55presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/MonopsonyPower/default.html Tutor2u56presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/NationalMinimumWage/default.html Tutor2u57presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/PovertyInequality/default.html Tutor2u58presentation http://beta.tutor2u.net/economics/reference/revision-presentation-wealth-and-income-inequality Poverty UK http://poverty.org.uk/ Oxfam http://policy-practice.oxfam.org.uk/our-work/poverty-in-the-uk Tutor2u59presentation http://www.tutor2u.net/economics/presentations/a2economics/micro/InequalityGovernmentPolicies/default.ht

ml Youtube10 https://www.youtube.com/watch?v=O_Oozju3RRI Tutor2u60presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/EconomicGrowthCostsandBenefits/def

ault.html Tutor2u61presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/StandardofLiving/default.html Tutor2u62presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/UnemploymentUK/default.html Tutor2u63presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/PhillipsCurveNAIRU/default.html Youtube11 https://www.youtube.com/watch?v=M1o3FS0awtk Tutor2u64presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/Inflation/default.html Tutor2u65presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/InflationTargets/default.html Tutor2u66presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/CostsBenefitsInflation/default.html BBC inflation calculator http://www.bbc.co.uk/news/business-22523612 Tutor2u67presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/Deflation/default.html Tutor2u68presentation http://beta.tutor2u.net/economics/reference/monetary-policy-exchange-rates-revision-presentation

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Tutor2u69presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/Fiscal%20PolicyGovernmentSpending/default.html

Tutor2u70presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/FiscalPolicyTaxation/default.html Tutor2u71presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/FiscalPolicyGovernmentBorrowing/defa

ult.html Tutor2u72presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/FiscalPolicyAggregateDemand/default.

html Tutor2u73presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/Globalisation/default.html Youtube12 https://www.youtube.com/watch?v=12YDLZq8rT4 Youtube13 https://www.youtube.com/watch?v=QGLseQFTgeM Tutor2u74presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/InternationalTrade/default.html Tutor2u75presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/TradeandProtectionism/default.html Youtube14 https://www.youtube.com/watch?v=xRJZWfqWcs0 Tutor2u20quiz http://www.tutor2u.net/economics/quizzes/a2/trade1/quiz.html Tutor2u21quiz http://www.tutor2u.net/economics/quizzes/a2/protectionism1/quiz.html Tutor2u76presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/ExchangeRates/default.html Tutor2u77presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/FixedFloatingExchangeRates/default.ht

ml Tutor2u78presentation http://www.tutor2u.net/economics/presentations/a2economics/macro/EuropeanUnionEuroDebate/default.htm

l Tutor2u79presentation http://www.slideshare.net/tutor2u/aid-and-development-27575751?qid=6f227435-5321-4010-b046-

c402d63265d5&v=default&b=&from_search=14 Youtube15 https://www.youtube.com/watch?v=aiNYMeEKxVI Youtube16 https://www.youtube.com/watch?v=7N_hEV_gopI Tutor2u1revisionvideo http://beta.tutor2u.net/economics/reference/aggregate-demand-and-aggregate-supply Tutor2u2revisionvideo http://beta.tutor2u.net/economics/reference/economic-growth-in-the-uk Tutor2u3revisionvideo http://beta.tutor2u.net/economics/reference/indirect-taxes-and-subsidies-revision-video Tutor2u4revisionvideo http://beta.tutor2u.net/economics/reference/uk-economy-in-2015-exam-revision-webinar Tutor2u5revisionvideo http://beta.tutor2u.net/economics/reference/international-competitiveness Tutor2u6revisionvideo http://beta.tutor2u.net/economics/reference/uk-the-european-union-revision-video Tutor2u7revisionvideo http://beta.tutor2u.net/economics/reference/interpreting-the-balance-of-payments Tutor2u8revisionvideo http://beta.tutor2u.net/economics/reference/globalisation-and-the-uk-economy

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Tutor2u9revisionvideo http://beta.tutor2u.net/economics/reference/contestable-markets-video Tutor2u10revisionvideo http://beta.tutor2u.net/economics/reference/perfect-competition-revision-video Tutor2u11revisionvideo http://beta.tutor2u.net/economics/reference/monopoly-power-in-markets-revision-video Tutor2u12revisionvideo http://beta.tutor2u.net/economics/reference/international-trade-basics-video Tutor2u13revisionvideo http://beta.tutor2u.net/economics/reference/economics-of-inequality Tutor2u14revisionvideo http://beta.tutor2u.net/economics/reference/competition-policy-case-study-royal-mail-privatisation Tutor2u15revisionvideo http://beta.tutor2u.net/economics/reference/business-objectives-revision-video Tutor2u16revisionvideo http://beta.tutor2u.net/economics/reference/living-standards-and-human-development-index Tutor2u17revisionvideo http://beta.tutor2u.net/economics/reference/exchange-rates-revision-video Tutor2u18revisionvideo http://beta.tutor2u.net/economics/reference/supply-side-policies-video Tutor2u19revisionvideo http://beta.tutor2u.net/economics/reference/government-failure-video Tutor2u20revisionvideo http://beta.tutor2u.net/economics/reference/price-elasticity-of-supply-revision-webinar Tutor2u21revisionvideo http://beta.tutor2u.net/economics/reference/monetary-policy-in-the-uk Tutor2u22revisionvideo http://beta.tutor2u.net/economics/reference/multiplier-and-accelerator Tutor2u80presentation http://beta.tutor2u.net/economics/blog/unit-1-micro-asymmetric-information Economics Online2 http://www.economicsonline.co.uk/Market_failures/Information_failure.html Economics Help1 http://www.economicshelp.org/blog/glossary/asymmetric-information Behavioural insights www.behaviouralinsights.co.uk Youtube17 https://www.youtube.com/user/bankofenglanduk Youtube18 https://www.youtube.com/watch?v=eTqT0psuSjk