Embedded Files
Year 2
Year 2
Theme 3: Business behaviour and the labour market
Theme 3: Business behaviour and the labour market
This theme builds on the content of Theme 1: Introduction to markets and market failure and focuses on business economics
This theme builds on the content of Theme 1: Introduction to markets and market failure and focuses on business economics
Business behaviour and the labour market. This theme examines the economic environment in which businesses compete and how government manages and regulates business. It also examines the key features of the labour market, wage rates and unemployment.
Business behaviour and the labour market. This theme examines the economic environment in which businesses compete and how government manages and regulates business. It also examines the key features of the labour market, wage rates and unemployment.
This theme examines:
how the number and size of market participants, and the level of contestability, affect the pricing and nature of competition among firms.
the size and growth of firms - organic growth, mergers and takeovers and the reasons for demergers and why some firms tend to remain small.
the rational assumption that firms are profit maximisers and alternative business objectives
revenues, costs and profits
market structures
the pricing and output decisions of firms in different contexts and understand the role of competition in business decision making
supply and demand analysis specifically applied to the labour market to see how wages are determined in competitive and non-competitive markets.
government intervention aimed at promoting competitive markets.
Theme 4: A global perspective
Theme 4: A global perspective
This theme builds on the knowledge and skills gained in Theme 2: The UK economy – performance and policies, and applies them in a global context.
This theme builds on the knowledge and skills gained in Theme 2: The UK economy – performance and policies, and applies them in a global context.
A global perspective. This theme examines issues such as the causes and impact of globalisation, international economics, poverty and inequality, developing economies and the financial sector. It also examines government policies to achieve objectives in a global context. This theme also considers the role and impact of the financial sector.
A global perspective. This theme examines issues such as the causes and impact of globalisation, international economics, poverty and inequality, developing economies and the financial sector. It also examines government policies to achieve objectives in a global context. This theme also considers the role and impact of the financial sector.
This theme examines:
the significance of globalisation, international trade, the balance of payments and exchange rates
public finance, macroeconomic policies and the role of the financial sector in a global context
factors influencing the growth and development of emerging and developing countries
analysis and evaluation of economic models and policies that might be used to address national and global economic challenges. Students should develop an awareness of trends in the global economy over the last 25 years through wider reading and research so that they can include relevant examples in their analysis and evaluation.
Page updated
Report abuse