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Resources for those looking to understand economics. Essays, e-books, blog posts and latest developments on the UK and global economy. Sections A-level Revision Products | Glossary of terms |Microeconomics | Macroeconomics | Recent Articles Popular Revision e-books Macro Economics Revision Notes Economic growth Fiscal policy Monetary policy Inflation International trade / globalisation Supply-side policies Unemployment …
– Positive economics: based on facts and testable theories e.g. inflation is 2% – Normative economics: based on opinion – Opportunity cost: is the sacrifice foregone of the next best alternative – Demand curve will shift to the right if real incomes rise, price of substitute rises, price of complement falls, changes in taste Giffen …
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The best advice for homework is to try to understand the basic overall framework of the topic before getting into the details. Don’t be put off if your understanding is not complete. Homework should be viewed as an opportunity to learn, it is not your final exam. If one textbook appears incomprehensible try looking at …