Course allows candidates to analyse and evaluate the economic concepts and theories that underpin the workings of a modern day economy. The content covers three sections. Microeconomics includes the basic economic problem of unlimited wants and limited means, the market mechanism and demand and supply analysis, costs of production, profit and the theory of the firm, causes of market failure, Government intervention in the market and the labour market. The national economy includes standards of living, economic growth and economic cycle, employment and unemployment, inflation and deflation, distribution of income, current account of balance of payments, productivity and international competitiveness. In International economics, students should develop a good understanding of the issues involved within the theory of free trade, the pattern of trade, protectionism, the current account and exchange rates, development economics and globalisation and the European Union.
Name: Economics Qualification title: Pre-U Principal Subject Qualification type: GCE A/AS Level or equivalent Assessment Awarding - Created 20161027 22:03:48 Updated 20161027 22:03:48
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Oakwood Park Grammar School
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Oakwood Park Town: Maidstone