Revision Guide to Economics

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Publication Date: January 2016 This book covers Theme 1 and 2 of the A Level course for AQA, OCR and Edexcel Economics A. The author, Peter Cramp, is head of Economics and Politics at Nottingham High School and is an experienced author and examiner. This book is in full colour and runs to 120 pages, the contents are as follows: Unit 1 - Microeconomics Introduction to economics Demand and supply analysis Elasticity Production, costs and revenue Competitive and concentrated markets The price mechanism Market Failure - Imperfect information, externalities, merit and demerit goods, public goods Market Failure - Monopoly, resource immobility, unstable commodity prices, lack of equity Government intervention - indirect taxation, subsidies, state provision, information provision Government intervention - price controls, buffer stocks Government intervention - regulation, extending property rights, tradable pollution permits Government Failure Unit 2 Macroeconomics Macroeconomic indicators and objectives The circular flow of income and aggregate demand Aggregate supply and macroeconomic equilibrium Consumption, saving and investment Economic growth and living standards Unemployment Inflation and deflation The current account of the balance of payments International trade and exchange rates Fiscal policy Monetary policy Supply side policy - can policy conflicts and trade-offs be resolved?