WJEC A-level economics revision guide (network license)

£95.00

  • Specific WJEC A-level economics revision guide (unit 1,2,3,4) – network license £95.00
  • Updated for the new WJEC economics syllabus (first exam June 2016, 2017)
  • Note: The syllabus is essentially same for Eduqas (English version of WJEC)
  • Trademark simplicity and clarity of presentation.
  • Significantly expanded on previous version, with not just required knowledge, but also examples of evaluation for each topic.
  • It comes in pdf format and is sent within a couple of hours after purchase.

About network license

  • Allows unlimited use within one educational establishment.
  • Package includes word documents, to enable modification for teaching.

Description

  • Recently updated and expanded
  • It is designed specifically for WJEC A level economics.
  • The syllabus is essentially same for Eduqas (English version of WJEC)

A Level economics revision guide  (E-Book)

  • Simple yet detailed.
  • Content designed to help prepare for possible questions.
  • All main diagrams needed for A Level Economics
  • Tips on writing evaluation – Essential for getting top grades
  • Updated: 2015.

 

Revision Guide sent shortly after purchase.

Unit 1 – Micro economics

  • Scarcity, choice and opportunity cost
  • Opportunity cost
  • Production possibility frontiers (PPF)
  • Possibility frontier and economic growth
  • Specialisation
  • Markets
  • Demand
  • Supply
  • Market equilibrium
  • Consumer surplus
  • Producer surplus
  • Elasticity
    • Using knowledge of elasticity
    • The impact of elasticity on tax
    • Income elasticity of demand (YED)
    • Cross elasticity of demand
    • Price elasticity of supply
  • Tax
  • Wage determination
    • National minimum wage
    • Flexible labour markets
    • Impact of net migration on UK labour markets
    • Evaluation of net migration
  • How resources are allocated in a free market
  • Market Failure
    • Externalities and social efficiency
    • Negative externality
    • Positive externality
    • Public good
    • Information gaps
    • Merit good
    • Demerit good
  • Government intervention to correct market failure
    • Tax
    • Subsidy
    • Maximum prices
    • Problem of maximum prices
    • Minimum prices
    • Tradeable pollution permits
    • State provision of public services
    • Advertising / Information
    • Regulation
  • Policies of Welsh government
  • Government failure

Unit 2 –  The UK Economy

  • Circular flow of income
    • Injections
    • Withdrawals (W) (leakages)
    • Multiplier effect
  • Aggregate demand
    • Consumer spending (C)
    • Investment
    • Government expenditure (G)
    • Net trade (X-M)
  • Aggregate supply (AS)
  • Equilibrium national income
  • Government macro economic objectives
    • Conflicts between objectives
  • Fiscal policy
    • The National Debt
    • Government spending
    • Taxation
  • Supply side policies
  • Monetary Policy
    • UK monetary policy
    • The role of the central bank
  • Exchange rates
    • Factors that influence exchange rates
    • Appreciation in the exchange rate
    • Evaluation of an appreciation
  • Trade
    • Benefits of free trade
    • Arguments for restricting trade

Unit  3 – Microeconomics

  • Costs of production
  • Law of diminishing returns
  • Economies of scale
  • Revenue
  • Profit
  • Profit maximisation
  • The growth of firms
  • Types of efficiency
  • Market structures
  • Examples of barriers to entry
  • Contestable markets
  • Business objectives
  • Perfect competition
  • Monopolistic competition
  • Monopoly
  • Price discrimination
  • Oligopoly
  • Collusion
  • Nash equilibrium
  • Competition policy
  • Mergers
  • Privatisation
  • Public ownership
  • Regulation of privatised industries

Unit  4 – Macroeconomics

  • Aggregate supply (AS)
  • The Phillips curve
  • Economic growth
  • Output gaps
  • Unemployment and employment
  • Inflation
  • Deflation
  • The balance of payments
  • Terms of trade
  • Fiscal policy
  • Government borrowing
  • The national debt
  • Monetary policy
  • Financial stability
  • Regulation of the financial system
  • International trade
  • Globalisation
  • Economic integration
  • Euro/ Monetary union
  • Economic development