Revision Guide A Level Economics Year 1

Searchable digital version of Peter Cramp’s revision guide to A Level Economics Year 1.

Each chapter in the Microeconomics section is fits into part of the structure of Micro as a subject: Introductory concepts, Markets generally work well, Sometimes markets fail, This may justify government intervention, Government failure sometimes occurs.  This structure is included in the header to each chapter and is highlighted to show where the chapter fits into this structure.

The microeconomic chapters are: 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.

Each chapter in the Macroeconomics section is fits into part of the structure of Macro as a subject: Measuring the economy, How the macroeconomy works, Macroeconomic performance, International trade, Macroeconomic policy tools. This structure is included in the header to each chapter and is highlighted to show where the chapter fits into this structure.

The macroeconomic chapters are: 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 be resolved?

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