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APR - A Level
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Theme 1: Introduction to Markets
1.1The Nature of Economics
The Basic Economic Problem
Economic Systems
How Economists Approach the World
Economic Thinkers
1.2 Understanding Free Markets
1.21 Demand
1.22 Supply
1.23 Market Equilibrium
1.24 Elasticities
Cross Elasticity of Demand
Price Elasticity of Demand
Price Elasticity of Supply
Income Elasticity of Demand
1.25 Alternative views of consumer behaviour
1.3 Government Intervention in Free Markets
1.31Indirect Taxation
1.32 Subsidies
1.33 Price Controls
1.4 Market Failures
Negative Externalities and Demerit Goodsn
Positive Externalities
Public Goods
Provision of Information
Theme 2: The UK Economy and Performance
Measuring Economic Performance
Understanding Economic Performance
Calculating Economic Growth
Limitations of GDP as a measure of living standards
Aggregate Demand and Supply
Aggregate Demand
Classical View of Aggregate Supply
Keynesian View of Aggregate Supply
Comparing the two ideologies
Economic Performance
Inflation
Measuring Inflation
Types and Causes of Inflation
Consequences of Inflation
Unemployment
Measuring Unemployment
Types of Unemployment
Consequences of Unemployment
Economic Growth
Types of Economic Growth
The Costs and Benefits of Economic Growth
Distribution of Income
Balance of Payments
Balanced Government Budgets
Potential Trade offs between Objectivces
Macroeconomic Policy
Monetary Policy
Understanding Monetary Policy
Evaluating Monetary Policy
Fiscal Policy
Understanding Fiscal Policy
Evaluating Fiscal Policy
Supply Side Policies
Market Based Supply Side Policies
Interventionist Supply Side Policies
Theme 3: Business Behaviour and Labour Markets
Costs, Revenues and Profits
Business Growth
Production and Costs
Revenues and Profits
Objectives of Businesses
Market Structures
Perfect Competition
Monopolistic Competition
Oligopolistic Competition
Monopoly
Price Discrimination
Monopsony Power
Pricing Strategies and Contestable Markets
Labour Markets
Understanding the Demand and Supply of Labour
Understanding the Supply of Labour
Factors affecting Labour Markets
Government Intervention in Market Structures
Theme 4: A Global Perspective
International Economics
4.1Free Trade and Protectionism
4.11 Understanding Free Trade
4.12Protectionism
4.13Terms of Trade
4.14 Economic Intergration
Trade Blocs
Monetary Unions
The Role of the WTO
Global Trends in International Trade
4.3 Exchange Rates and Balance of Payments
Free Floating Exchange Rate Systems
Government Intervention in Exchange Rates
Balance of Payments
Relationship between Exchange Rates and Balance of Payments
Exchange Rates, BOP and Monetary Unions
Poverty and Inequality
Understanding Poverty and Inequality
Measuring Inequality
Policies to Correct Income Inequality
Direct Taxation
Evaluating Policies to Correct
Emerging and Developing Economics
Measuring Economic Development
Barriers to Growth and Development
Strategies to Achieving Growth and Development
Domestic Strategies
Diversification
Market Based Supply Side Policies
Interventionist SSP
Trade Strategies
Other Strategies
Institutional Changes
Global Institutions
The Role of the State in the Macroeconomy
Public Expenditure
4.4 The Financial Sector
Money Creation
APR - A Level
Free Trade and Protectionism
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