Curriculum statement
Economics can be split into two main areas of study: Micro-economics and Macro-economics.
Economics can be split into two main areas of study: Micro-economics and Macro-economics.
Micro-economics is the study of how particular markets behave and economists analyse and examine the reasons why, for example, a litre of petrol is sometimes cheaper than a litre of water. Furthermore, they analyse and examine how changes in markets and prices can affect other markets. This inter-relationship needs to be understood, as well as why some markets work “better” than others.
Micro-economics is the study of how particular markets behave and economists analyse and examine the reasons why, for example, a litre of petrol is sometimes cheaper than a litre of water. Furthermore, they analyse and examine how changes in markets and prices can affect other markets. This inter-relationship needs to be understood, as well as why some markets work “better” than others.
Macro-economics is the study of how all markets behave and economists focus on how they can influence inflation, economic growth, unemployment and trade with the rest of the world. Consequently, this leads to an understanding of how all markets that make up the economy can be influenced and manipulated to improve the standard of living, or welfare, of the population. This involves the study of different governments’ economic policies and provides A level Economists an extra dimension to their understanding of current affairs.
Macro-economics is the study of how all markets behave and economists focus on how they can influence inflation, economic growth, unemployment and trade with the rest of the world. Consequently, this leads to an understanding of how all markets that make up the economy can be influenced and manipulated to improve the standard of living, or welfare, of the population. This involves the study of different governments’ economic policies and provides A level Economists an extra dimension to their understanding of current affairs.
