Please select from the menu above
- A priori arguments
- Ability to Pay
- Absolute Advantage – definition and examples
- Absorbed costs
- Absorption in economics
- Accelerated Depreciation
- Accommodative monetary policy
- Actuary definition
- Adaptive expectations
- Adjustable peg exchange rate
- Adjustment costs
- Adverse selection explained
- After sales service
- After tax income
- Agglomeration economies
- Aggregate supply
- Agricultural Protection
- All Share Index: Financial Times
- Allocative Efficiency
- Announcement effect
- Anti Dumping Measures and Duties
- Anti-pollution measures
- Antitrust laws
- Arbitrage – definition, examples and pricing theory
- Arbitration in Disputes
- Arc Elasticity of Demand
- Arithmetic Mean
- Asian Financial Crisis 1997
- Assembly line
- Asset Motive for Money
- Asset Prices
- Asset Stripping
Definition
- Assisted Areas
- Asymmetric information problem
- Atomistic Competition
- Auction Theory in Economics
- Audit and Audi Commission
- Austrian School of Economics
- Autarky Meaning
- Automatic Stabilisers
- Automation meaning and examples
- Autonomous consumption
- Average Cost
- Average Cost Pricing
- Avoidable Costs
- Backward Bending Supply Curve
- Balance of Payments Definition
- Balance of Trade
- Balanced Budget
- Balanced Growth
- Bank Deposit Insurance
- Bank Deposit Protection
- Bank Loans
- Bank Notes and Coins in UK
- Bank of England
- Bank of England and Exchange Rates
- Bank of England Interest Rates
- Bank Regulation UK
- Barter Economy
- Base Rates UK
- Base Year
- Basic Economic Problem
- Basic rate of income tax
- Basis Points Definition
- Bear Market Definition
- Behavioural economics
- Behavioural Theories of the Firm
- Benefit principle
- Benefits in Kind
- Benefits System UK
- Bertrand Competition
- Big Four UK Banks
- Bilateral Monopoly
- Bilateral Trade
- Bill of exchange
- Bills Government
- Black Market
- Black Monday – Stock Market Crash
- Black Thursday 1929
- Black Wednesday – ERM
- Bond Market and Interest Rates
- Bounded Rationality
- Brain Drain Problem
- Brand Loyalty
- Break-even price
- Bretton Woods System
- Broad Money Definition
- Budget constraints
- Budget Surplus
- Buffer Stocks
- Building Societies UK
- Bull Market
- Business Cycle
- Business Ethics
- Buyers Market
- Cabotage
- Cairns Group and WTO
- Call Money
- Capital Account Balance of Payments
- Capital Accumulation – definition
- Capital Consumption
- Capital depreciation – definition and meaning
- Capital Expenditure
- Capital Flight
- Capital Gains Tax
- Capital goods
- Capital intensive
- Capital to Labour Ratio
- Capital Widening and Capital Deepening
- Capitalism vs Socialism
- Capitalist – definition
- Capitalist Economic System
- Carbon Tax- Advantages and Disadvantages
- Carbon Trading Definition
- Cardinal and Ordinal Utility
- Cartel definition
- Cash Flow in Business
- Cash Ratio
- Ceiling prices
- Central Planned Economy
- Ceteris Paribus in economics
- Chicago School of Economics
- Choice architecture
- Classical Unemployment Definition
- Cobweb theory
- Cognitive bias in economics
- Command economy
- Compensated demand curve
- Compensating Wage Differential
- Compensation principle for externalities
- Competition Commission UK
- Competition Policy
- Competitive devaluation
- Competitive Markets
- Competitive Tendering
- Complementary Goods
- Composite Demand – definition and examples
- Concentration Ratios
- Constant prices
- Constant returns to scale
- Consumer durables
- Consumer sovereignty
- Consumer surplus and producer surplus
- Consumption externality
- Contagion definition
- Convergence criteria for Euro
- Core inflation definition
- Cost principle
- Costs of Production
- Credit default swap
- Criticism of Austrian Economics
- Criticism of Free Market Economics
- Criticism of Keynesian Economics
- Criticism of Thatcher Economics
- Criticisms of Bank of England
- Criticisms of European Union
- Criticisms of IMF
- Criticisms of the Euro
- Crowding in effect
- Currency convertibility
- Currency Substitution – Pros and Cons
- Current Account Balance of Payments
- Current Prices and Constant Prices
- Deadweight Debt
- Debt Burden Ratios
- Debt Crisis – Sub Saharan Africa
- Debt Crisis 1980s – Latin America
- Debt Service Ratios
- Decreasing returns to scale
- Default choices
- Defined benefit scheme
- Definition of absolute and relative poverty
- Definition of comparative advantage
- Definition of Deregulation
- Definition of the housing market
- Deflation Definition
- Deflationary gap
- Deindustrialization
- Demand curve formula
- Demand for money
- Demerit good definition
- Dependency Culture
- Dependency Ratio
- Derived Demand
- Difference between consumption and investment
- Difference between tax avoidance and tax evasion
- Different Economic Groups
- Different types of socialism
- Distributive Efficiency Definition
- Division of Labour
- Double co-incidence of wants
- Dual-system theory
- Duopoly
- Economic aid to developing countries
- Economic Booms
- Economic Depression – Definition
- Economic Stimulus Package
- Effect of import quotas
- Effect of tariffs
- Efficiency Wage Theory
- Equimarginal principle
- Example of plotting demand and supply curve graph
- Examples of ‘beggar my neighbour’ policies
- Examples of Barriers to Entry
- Expected Utility Theory
- External Benefits
- External costs
- External economies of scale
- Externalities – Definition
- Factor immobility
- Factors affecting choice of job/occupation
- Factors of Production – definition and explanation
- Fiscal Drag
- Fiscal Illusion
- Fiscal Neutrality
- Fiscal stance
- Fisher effect
- Fixed Capital Formation
- Fixed costs
- Flexible Wages Definition
- Flight From Money
- Floating Exchange Rates Definition
- Framing effect
- Free Rider Problem Definition
- Frictional Unemployment
- Hidden taxes
- Hit and run competition
- Horizontal Integration Definition
- Hot money flows
- How firms grow in size
- How much is a Billion Pounds?
- How to determine supply and demand equilibrium equations
- Human development index
- Income substitution effect
- Indicators of economic development
- Indifference curves and budget lines
- Indirect taxes
- Infant Industry Argument
- Information failure
- Intertemporal equilibrium explained
- Involuntary unemployment
- Isoquant and isocosts
- Labour intensive
- Leverage ratio
- Leveraged Buyout
- Limit Pricing Definition
- List of building societies now banks
- Lorenz Curve
- Loss aversion
- Loss Leaders
- Marginal Efficiency of Capital MEC
- Marginal propensity to save (MPS)
- Marginal revenue
- Marginal utility theory
- Mixed economy
- Money illusion
- Most traded commodities
- Natural Monopoly
- NEET – ‘Not in Employment, Education or Training’
- Net investment definition
- Network Effects – definition and examples
- Nominal value
- Non-Renewable Resources
- Normal profit
- Nudges
- Pareto efficiency
- Penetration pricing
- Pigovian Tax
- Policy trilemma – the impossible trinity
- Predatory Pricing
- Premium decoy pricing
- Premium pricing
- Present bias
- Price taker definition
- Primary and Secondary Income – Balance of Payments
- Product and Factor Markets
- Productivity – definition and evaluation
- Profit versus Profitability
- Prospect Theory
- Purpose of Banks
- Say’s Law
- Seasonal Unemployment
- Seigniorage – definition and explanation
- Shadow costs – shadow pricing
- Shape of aggregate supply curves (AS)
- Short-run, long-run, very long-run
- Shut down price
- Skimpflation – Definition and examples
- Social Benefit
- Social Cost
- Socialism vs Communism
- Specific tax
- Stagflation
- Static Efficiency
- Status Quo Bias
- Stop-go policies
- Substitute Goods
- Sunk costs
- Supplementary Goods
- Supply curve equation
- Supply side shock
- Take-up rate of benefits
- Tax competition
- Tax havens
- Technical Efficiency Definition
- Technological unemployment
- Thatcher’s Economic Policies
- The Accelerator Effect
- The difference between Gross and Net Pay
- The difference between the NAIRU and the Natural Rate (NR) of unemployment
- The role of firms in the economy
- Third Party
- Tight Fiscal Policy
- Tight Monetary Policy
- Time Lags
- Token Money
- Total utility
- Trade Barriers
- Trade Creation
- Trade Diversion
- Trade Liberalisation
- Trade not Aid
- Trade Sanctions
- Trade weighted index
- Trading blocks – Pros and cons
- Traditional theory of the firm
- Transaction costs
- Types of Takeovers
Macroeconomic notes
- Balance of payments
- Budget deficit
- Economic growth
- Fiscal policy
- Globalisation
- Exchange rates
- European Union
- The Euro
- Monetary policy
- Inequality
- Inflation
- International trade
- Supply side policies
- Unemployment
Microeconomics notes
AS
- Consumer and producer surplus
- Demand
- Economies of scale
- Elasticity
- Market equilibrium
- Production possibility frontiers
- Positive and normative statements
- Opportunity cost
- Specialisation and division of labour
- Market failure
- Positive externalities – benefit to a third party.
- Negative externalities – cost imposed on a third party.
- Merit goods – People underestimate benefit of good, e.g. education
- Demerit goods – People underestimate costs of good, e.g. smoking
- Public Goods – Goods which are non-rival and non-excludable
- Government failure
A-level Microeconomics
- Objectives of firms
- Costs
- Diminishing returns
- Efficiency
- Labour markets
- Market structure
- Price discrimination
- Privatisation
Complete list of terms:
- A priori arguments
- Ability to Pay
- Absolute Advantage – definition and examples
- Absorbed costs
- Absorption in economics
- Accelerated Depreciation
- Accommodative monetary policy
- Actuary definition
- Adaptive expectations
- Adjustable peg exchange rate
- Adjustment costs
- Adverse selection explained
- After sales service
- After tax income
- Agglomeration economies
- Aggregate supply
- Agricultural Protection
- All Share Index: Financial Times
- Allocative Efficiency
- Announcement effect
- Anti Dumping Measures and Duties
- Anti-pollution measures
- Antitrust laws
- Arbitrage – definition, examples and pricing theory
- Arbitration in Disputes
- Arc Elasticity of Demand
- Arithmetic Mean
- Asian Financial Crisis 1997
- Assembly line
- Asset Motive for Money
- Asset Prices
- Asset Stripping
Definition
- Assisted Areas
- Asymmetric information problem
- Atomistic Competition
- Auction Theory in Economics
- Audit and Audi Commission
- Austrian School of Economics
- Autarky Meaning
- Automatic Stabilisers
- Automation meaning and examples
- Autonomous consumption
- Average Cost
- Average Cost Pricing
- Avoidable Costs
- Backward Bending Supply Curve
- Balance of Payments Definition
- Balance of Trade
- Balanced Budget
- Balanced Growth
- Bank Deposit Insurance
- Bank Deposit Protection
- Bank Loans
- Bank Notes and Coins in UK
- Bank of England
- Bank of England and Exchange Rates
- Bank of England Interest Rates
- Bank Regulation UK
- Barter Economy
- Base Rates UK
- Base Year
- Basic Economic Problem
- Basic rate of income tax
- Basis Points Definition
- Bear Market Definition
- Behavioural economics
- Behavioural Theories of the Firm
- Benefit principle
- Benefits in Kind
- Benefits System UK
- Bertrand Competition
- Big Four UK Banks
- Bilateral Monopoly
- Bilateral Trade
- Bill of exchange
- Bills Government
- Black Market
- Black Monday – Stock Market Crash
- Black Thursday 1929
- Black Wednesday – ERM
- Bond Market and Interest Rates
- Bounded Rationality
- Brain Drain Problem
- Brand Loyalty
- Break-even price
- Bretton Woods System
- Broad Money Definition
- Budget constraints
- Budget Surplus
- Buffer Stocks
- Building Societies UK
- Bull Market
- Business Cycle
- Business Ethics
- Buyers Market
- Cabotage
- Cairns Group and WTO
- Call Money
- Capital Account Balance of Payments
- Capital Accumulation – definition
- Capital Consumption
- Capital depreciation – definition and meaning
- Capital Expenditure
- Capital Flight
- Capital Gains Tax
- Capital goods
- Capital intensive
- Capital to Labour Ratio
- Capital Widening and Capital Deepening
- Capitalism vs Socialism
- Capitalist – definition
- Capitalist Economic System
- Carbon Tax- Advantages and Disadvantages
- Carbon Trading Definition
- Cardinal and Ordinal Utility
- Cartel definition
- Cash Flow in Business
- Cash Ratio
- Ceiling prices
- Central Planned Economy
- Ceteris Paribus in economics
- Chicago School of Economics
- Choice architecture
- Classical Unemployment Definition
- Cobweb theory
- Cognitive bias in economics
- Command economy
- Compensated demand curve
- Compensating Wage Differential
- Compensation principle for externalities
- Competition Commission UK
- Competition Policy
- Competitive devaluation
- Competitive Markets
- Competitive Tendering
- Complementary Goods
- Composite Demand – definition and examples
- Concentration Ratios
- Constant prices
- Constant returns to scale
- Consumer durables
- Consumer sovereignty
- Consumer surplus and producer surplus
- Consumption externality
- Contagion definition
- Convergence criteria for Euro
- Core inflation definition
- Cost principle
- Costs of Production
- Credit default swap
- Criticism of Austrian Economics
- Criticism of Free Market Economics
- Criticism of Keynesian Economics
- Criticism of Thatcher Economics
- Criticisms of Bank of England
- Criticisms of European Union
- Criticisms of IMF
- Criticisms of the Euro
- Crowding in effect
- Currency convertibility
- Currency Substitution – Pros and Cons
- Current Account Balance of Payments
- Current Prices and Constant Prices
- Deadweight Debt
- Debt Burden Ratios
- Debt Crisis – Sub Saharan Africa
- Debt Crisis 1980s – Latin America
- Debt Service Ratios
- Decreasing returns to scale
- Default choices
- Defined benefit scheme
- Definition of absolute and relative poverty
- Definition of comparative advantage
- Definition of Deregulation
- Definition of the housing market
- Deflation Definition
- Deflationary gap
- Deindustrialization
- Demand curve formula
- Demand for money
- Demerit good definition
- Dependency Culture
- Dependency Ratio
- Derived Demand
- Difference between consumption and investment
- Difference between tax avoidance and tax evasion
- Different Economic Groups
- Different types of socialism
- Distributive Efficiency Definition
- Division of Labour
- Double co-incidence of wants
- Dual-system theory
- Duopoly
- Economic aid to developing countries
- Economic Booms
- Economic Depression – Definition
- Economic Stimulus Package
- Effect of import quotas
- Effect of tariffs
- Efficiency Wage Theory
- Equimarginal principle
- Example of plotting demand and supply curve graph
- Examples of ‘beggar my neighbour’ policies
- Examples of Barriers to Entry
- Expected Utility Theory
- External Benefits
- External costs
- External economies of scale
- Externalities – Definition
- Factor immobility
- Factors affecting choice of job/occupation
- Factors of Production – definition and explanation
- Fiscal Drag
- Fiscal Illusion
- Fiscal Neutrality
- Fiscal stance
- Fisher effect
- Fixed Capital Formation
- Fixed costs
- Flexible Wages Definition
- Flight From Money
- Floating Exchange Rates Definition
- Framing effect
- Free Rider Problem Definition
- Frictional Unemployment
- GDP vs GNP – how they differ
- Hidden taxes
- Hit and run competition
- Horizontal Integration Definition
- Hot money flows
- How firms grow in size
- How much is a Billion Pounds?
- How to determine supply and demand equilibrium equations
- Human development index
- Income substitution effect
- Indicators of economic development
- Indifference curves and budget lines
- Indirect taxes
- Infant Industry Argument
- Information failure
- Intertemporal equilibrium explained
- Involuntary unemployment
- Isoquant and isocosts
- Joint Supply
- Kaldor-Hicks Efficiency
- Kinked demand curve
- Labour intensive
- Leverage ratio
- Leveraged Buyout
- Limit Pricing Definition
- List of building societies now banks
- Lorenz Curve
- Loss aversion
- Loss Leaders
- Marginal Efficiency of Capital MEC
- Marginal propensity to save (MPS)
- Marginal revenue
- Marginal utility theory
- Mixed economy
- Money illusion
- Most traded commodities
- Natural Monopoly
- NEET – ‘Not in Employment, Education or Training’
- Net investment definition
- Network Effects – definition and examples
- Nominal value
- Non-Renewable Resources
- Normal profit
- Nudges
- Output Gap Definition
- Pareto efficiency
- Penetration pricing
- Pigovian Tax
- Policy trilemma – the impossible trinity
- Predatory Pricing
- Premium decoy pricing
- Premium pricing
- Present bias
- Price taker definition
- Primary and Secondary Income – Balance of Payments
- Product and Factor Markets
- Productivity – definition and evaluation
- Profit versus Profitability
- Prospect Theory
- Purpose of Banks
- Real GDP Per Capita
- Resource curse
- Role of IMF
- Rules of origin
- Rust belt – definition and causes
- Say’s Law
- Seasonal Unemployment
- Seigniorage – definition and explanation
- Shadow costs – shadow pricing
- Shape of aggregate supply curves (AS)
- Short-run, long-run, very long-run
- Shut down price
- Skimpflation – Definition and examples
- Social Benefit
- Social Cost
- Socialism vs Communism
- Specific tax
- Stagflation
- Static Efficiency
- Status Quo Bias
- Stop-go policies
- Substitute Goods
- Sunk costs
- Supplementary Goods
- Supply curve equation
- Supply side shock
- Take-up rate of benefits
- Tax competition
- Tax havens
- Technical Efficiency Definition
- Technological unemployment
- Thatcher’s Economic Policies
- The Accelerator Effect
- The difference between Gross and Net Pay
- The difference between the NAIRU and the Natural Rate (NR) of unemployment
- The role of firms in the economy
- Third Party
- Tight Fiscal Policy
- Tight Monetary Policy
- Time Lags
- Token Money
- Total utility
- Trade Barriers
- Trade Creation
- Trade Diversion
- Trade Liberalisation
- Trade not Aid
- Trade Sanctions
- Trade weighted index
- Trading blocks – Pros and cons
- Traditional theory of the firm
- Transaction costs
- Types of Takeovers
- Utility maximisation
- Variable Costs
- Vulture Capitalism
- Wage-price spiral
- X Inefficiency
- Yen carry trade
- Zombie firm