General Links
- Recommended Revision Text Economics Help:
- microeconomics (Monday am/pm, Tuesday am)
- macroeconomics (Tuesday pm, Wednesday am)
- http://flashecon.org/
- tutor2u revision maps
- Edexcel AS:
- unit 1 - how markets work
- unit 2 - why markets fail
- unit 3 - managing the economy
- AQA AS:
- Module 1 - Markets and Market Failure
- Module 2 - The National Economy
- OCR AS:
- Module 2881 - The Market System
- Module 2882 - Market Failure and Government Intervention
- Module 2883 - The National and International Economy
Monday (am) - The Nature of Economics
- The Economic Problem and the Allocation of Resources in Competitive Markets.
- Demand and Supply
- supply and demand presentation
- complements and substitutes presentation
- oil prices (bbc 2004)
- shoppers demand turkeys (bbc 2007)
- Price Mechanism
- Elasticity
- demand elasticity and total revenue presentation
- supply elasticity and tax incidence presentation
- Specialisation and Trade
- http://flashecon.org/advantage/advantage_main.asp
Monday (pm) - Market Failure
- Why Markets may not allocate resources efficiently
- Types of Market Failure:
- Monopoly
- Public Goods - public goods presentation
- De-merit Goods
- Externalities - presentation
- Commodity Markets - wheat prices + coffee prices
- Agricultural Products - common agricultural policy (CAP)
- Labour Markets - mininum wage legislation in the UK + living on the minimum wage in London
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