AS, A2 and IB Economics Revision Notes*4**4**1*AS MARKETS and MARKET SYSTEMS*2*Economic Resources*4*Scarcity and Choice in Resource Allocation*4*Production Possibility Frontier*4*Specialisation and Trade*4*Positive and Normative Statements*4*Theory of Demand*4*Theory of Supply*4*Market Equilibrium Price*4*Price Elasticity of Demand*4*Price Elasticity of Supply*4*Income Elasticity of Demand*4*Cross Price Elasticity of Demand*4*Price Mechanism*4*Price Volatility in Markets*4*Inter-relationships Between Markets*4*Consumer Surplus*4*Producer Surplus*4*Example - Market for Oil*4*Example - Market for Copper*4*Example - Market for Rhodium*4*Example - Market for Coffee*1*AS MACROECONOMICS / INTERNATIONAL ECONOMY*2*Introduction to the UK Economy*4*UK Economic Cycle*4*Measuring National Income*4*Macroeconomic Objectives*4*Using Index Numbers*4*Aggregate Demand*4*Consumer Spending and Saving*4*Capital Investment and Spending*4*Aggregate Supply*4*Macroeconomic Equilibrium*4*Macroeconomic Cycle*4*Multiplier and Accelerator Effects*4*Economic Growth*4*Inflation*4*Employment and Unemployment*4*International Trade*4*Balance of Payments*4*Macroeconomic Policy*4*Monetary Policy*4*Exchange Rates*4*Fiscal Policy*4*Government Borrowing / Budget Deficit*4*Supply-side Policies*4*Objectives and Trade-offs*1*AS MARKET FAILURE*2*Production and Costs*4*Economies and Diseconomies of Scale*4*Importance of Productivity*4*Economic Efficiency*4*Market Failure*4*Competition, Monopoly and Allocation of Resources*4*Negative Externalities*4*Positive Externalities*4*Government intervention and Externalities*4*Public Goods and Private Goods*4*Merit Goods*4*Demerit goods*4*Factor Immobility*4*Imperfect Information*4*Poverty and Inequality in Resource Allocation*4*Government Intervention in the Market*4*Indirect Taxation*4*Producer Subsidies*4*Maximum Prices*4*Minimum Prices*4*Buffer Stock Schemes*4*Economics of Farm Support - the CAP*4*Government Failure*4*Economics of Health Care*1*A2 MARKETS (BUSINESS ECONOMICS)*2*Short Run and Long Run Production*4*Background to Supply - Short Run Costs*4*Long Run Costs: Economies and Diseconomies of Scale*4*Business Revenues*4*Profits*4*Objectives of Businesses*4*Divorce between Ownership and Control*4*Technological Change, Costs and Supply in Long-run*4*The Growth of Firms*4*Perfect Competition*4*Dynamics of Competition and Competitive Market Processes*4*Monopoly*4*Price Discrimination*4*Monopoly and Economic Efficiency*4*Oligopoly - Overview*4*Oligopoly - Game Theory*4*Consumer and Producer Surplus*4*Contestable Markets*4*Price Takers and Price Makers - Pricing Power*4*Market Structures - A Summary*4*Market Failure - Introduction*4*Government Failure*4*Market Failure - Externalities - Overview*4*Market Failure - Externalities - Policy Options*4*Market Failure - Public Goods*4*Market Failure - Universities and Tuition Fees*4*Competition Policy*4*Privatisation and Deregulation*4*Cost Benefit Analysis*4*Demand for Labour*4*The Labour Force*4*Supply of Labour to Different Markets*4*Wage Determination in Competitive Markets*4*Trade Unions and Monopsony Employers*4*Labour Market - Discrimination*4*Labour Market - Migration*4*Labour Market - The Ageing Population*4*The Distribution of Income and Wealth*4*Government Policies towards Poverty*1*A2 MACROECONOMICS / GLOBAL ECONOMY*2*Nature and Causes of Fluctuations in Economic Activity*4*Consumer spending and saving*4*Capital investment spending*4*Cyclical fluctuations - demand and supply-side shocks*4*Theories of Economic Growth*4*Economic Growth - Costs and Benefits*4*National Income and Changes in Living Standards*4*Unemployment*4*The Natural Rate of Unemployment*4*Flexible Labour Markets*4*The Phillips Curve*4*Measuring Inflation*4*Causes of Inflation*4*Consequences of Inflation*4*Deflation*4*Monetarism and the Quantity Theory of Money*4*Government Macroeconomic Policy*4*Monetary Policy*4*The Exchange Rate*4*Fiscal Policy - Taxation and Public Expenditure*4*Direct and Indirect Taxation*4*Economic Effects of Fiscal Policy*4*The Pattern of International Trade*4*Trade and Development - Introduction*4*Trade and Development - Trade Agreements*4*Trade and Development - BRICS*4*Globalisation and Africa*4*Globalisation - Introduction*4*Globalisation - Effects*4*Trade and the law of Comparative Advantage*4*Protectionism*4*Balance of Payments - Introduction*4*Balance of Payments - Deficits*4*Balance of Payments - National Income*4*European Monetary Union*4**4*Blogs are exceptional*4**4**4**4*Useful for teachers of Economics.