A-Level Economics revision notes made for the Edexcel exam boards. This covers all the topics and modules for all specifications including 9EC0.
Topics that are covered includes Theme 1: Introduction to markets and market failure; Theme 2: The UK economy – performance and policies; Theme 3: Business behaviour and the labour market; Theme 4: A global perspective;
Theme 1: Introduction to markets and market failure:
- 1.1.1 Economics as a social science
- 1.1.1 Economics as a social science
- 1.1.2 Positive and normative economic statements
- 1.1.2 Positive and normative economic statements
- 1.1.3 The economic problem
- 1.1.3 The economic problem
- 1.1.4 Production possibility frontier
- 1.1.4 Production possibility frontiers
- 1.1.5 Specialisation and the division of labour
- 1.1.5 Specialization and the division of labor
- 1.1.6 Free market economies, mixed economy and command economy
- 1.1.6 Free market economies, mixed economy and command economy
- 1.2.1 Rational decision making
- 1.2.1 Rational decision making
- 1.2.10 Alternative views of consumer behavior
- 1.2.10 Alternative views of consumer behaviour
- 1.2.3 Price, income and cross elasticities of demand
- 1.2.3 Price, income and cross elasticizes of demand
- 1.2.4 Supply
- 1.2.4 Supply
- 1.2.5 Elasticity of supply
- 1.2.5 Elasticity of supply
- 1.2.6 Price determination
- 1.2.6 Price determination
- 1.2.7 Price mechanism
- 1.2.7 Price mechanism
- 1.2.8 Consumer and producer surplus
- 1.2.8 Consumer and producer surplus
- 1.2.9 Indirect taxes and subsidies
- 1.2.9 Indirect taxes and subsidies
- 1.3.1 Types of market failure
- 1.3.1 Types of market failure
- 1.3.2 Externalities
- 1.3.2 Externalities
- 1.3.3 Public goods
- 1.3.3 Public goods
- 1.3.4 Information gaps
- 1.3.4 Information gaps
- 1.4.1 Government intervention in markets
- 1.4.1 Government intervention in markets
- 1.4.2 Government failure
- 1.4.2 Government failure
Theme 2: The UK economy – performance and policies:
- 2.1.1 Economic growth
- 2.1.2 Inflaton
- 2.1.3 Employment and unemployment
- 2.2.1 The characteristcs of AD
- 2.2.2 Consumpton (C)
- 2.2.3 Investment (I)
- 2.2.4 Government expenditure (G)
- 2.2.5 Net trade (X-M)
- 2.3.1 The characteristcs of AS
- 2.3.2 Short-run AS
- 2.3.3 Long-run AS
- 2.4.1 National income
- 2.4.2 Injectons and withdrawals
- 2.4.3 Equilibrium levels of real natonal output
- 2.4.4 The multplier
- 2.5.1 Causes of growth
- 2.5.2 Output gaps
- 2.5.3 Trade(business) cycle
- 2.5.4 The impact of economic growth
- 2.6.1 Possible macroeconomic objectves
- 2.6.3 Supply-side policies
- 2.6.4 Conflicts and tradeoffs between objectves and policies
Theme 3: Business behaviour and the labour market:
- 3.1.1 Sizes and types of firms
- 3.1.1 Sizes and types of firms
- 3.1.2 Business growth
- 3.1.2 Business growth
- 3.1.3 Trading blocs
- 3.1.3 Demergers
- 3.1.3 Demergers
- 3.2.1 Business objectives
- 3.2.1 Business objectives
- 3.3.1 Revenue
- 3.3.1 Revenue
- 3.3.2 Costs
- 3.3.2 Costs
- 3.3.3 Economies and diseconomies of scale
- 3.3.3 Economies and diseconomies of scale
- 3.3.4 Normal profits, supernormal profits and losses
- 3.3.4 Normal profits, supernormal profits and losses
- 3.4.1 Efficiency
- 3.4.1 Efficiency
- 3.4.2 Perfect competition
- 3.4.2 Perfect competition
- 3.4.3 Monopolistic competition
- 3.4.3 Monopolistic competition
- 3.4.4 Oligopoly
- 3.4.4 Oligopoly
- 3.4.5 Monopoly
- 3.4.5 Monopoly
- 3.4.6 Monopsony
- 3.4.6 Monopsony
- 3.4.7 Contestability
- 3.4.7 Contestability
- 3.5.1 Demand for labour
- 3.5.1 Demand for labour
- 3.5.2 Supply of labour
- 3.5.2 Supply of labour
- 3.5.3 Wage determination in competitive and non-competitive markets
- 3.5.3 Wage determination in competitive and non-competitive markets
- 3.6.1 Government intervention
- 3.6.1 Government intervention
- 3.6.2 The impact of government intervention
- 3.6.2 The impact of government intervention
Theme 4: A global perspective:
- 4.1.1 Globalisaton
- 4.1.2 Specialisaton and trade
- 4.1.3 Pattern of trade
- 4.1.4 Terms of trade
- 4.1.5 Trading blocs and the World Trade Organisaton (WTO)
- 4.1.6 Restrictons on free trade
- 4.1.7 Balance of payments
- 4.1.8 Exchange rates
- 4.1.9 Internatonal compettveness
- 4.2.1 Absolute and relatve poverty
- 4.2.2 Inequality
- 4.3.1 Measures of development
- 4.3.2 Factors influencing growth and development
- 4.3.3 Strategies influencing growth and development
- 4.4.1 Role of financial markets
- 4.4.2 Market failure in the financial sector
- 4.4.3 Role of central banks
- 4.5.1 Public expenditure
- 4.5.2 Taxation
- 4.5.3 Public sector fnances
- 4.5.4 Macroeconomic policies in a global context