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Year 12 Economics Curriculum

Key topics to be taught this year: 

Autumn Term

Topic

Further details about the topic

Skills

1

The operation of markets and market failure

 

 

 

Production, costs and revenue

 

 

 

 

Price determination in a competitive market

Economic methodology, the nature and purpose of economic activity, economic resources, scarcity, choice and the allocation of resources and production possibility diagrams

Production and productivity, specialisation, division of labour and exchange, costs of production, economies and diseconomies of scale, average revenue, total revenue and profit

 

The determinants of the demand for goods and services, price, income and cross elasticities of demand, the determinants of the supply of goods and services, price elasticity of supply, the determination of equilibrium market prices and the interrelationship between markets

Knowledge, application, analysis and evaluation

2

Competitive and concentrated markets

 

 

The market mechanism, market failure and government intervention in markets

 

 

 

 

 

The measurement of macroeconomic performance

Market structures,  the objectives of firms

Monopoly and monopoly power, the competitive market process

 

How markets and prices allocate resources, the meaning of market failure, public goods, private goods and quasi-public goods, positive and negative externalities in consumption and production, market imperfections, merit and demerit goods, an inequitable distribution of income and wealth, Government intervention in markets and Government failure

 

The objectives of Government economic policy, macroeconomic indicators, use of index numbers

Knowledge, application, analysis and evaluation

Spring Term

 

 

 

1

How the macroeconomy works

 

 

 

 

 

Economic performance

The circular flow of income, aggregate demand (AD) and aggregate supply (AS) analysis, the determinants of aggregate demand, aggregate demand and the level of economic activity, determinants of short-run aggregate supply and determinants of long-run aggregate supply

Economic growth and the economic cycle, employment and unemployment, inflation and deflation, the balance of payments on current account, possible conflicts between macroeconomic policy objectives

Knowledge, application, analysis and evaluation

2

Macroeconomic policy

Macroeconomic mock exam

Monetary policy, fiscal policy and supply-side policies.

Knowledge, application, analysis and evaluation

Summer Term

 

 

 

1

Start A2: Marginality, behavioural economics and poverty

 

Knowledge, application, analysis and evaluation

2

End of year exam

Economic growth and development 

 

Knowledge, application, analysis and evaluation

 

Autumn Term

Topic

Type of Assessment

CAT 1

All areas covered in term 1

Exam paper

CAT 2

All areas covered in Year 12

Exam paper

CAT 3

Paper 1 and paper 2

Mock Exam

Main Resources: 

Resource

Details

Term

Text books

AQA AS Economics by Powell (ISBN9781471829789)

All

Recommended reading

A quality newspaper

Economics by Alain Anderton (ISBN 9781405892353)

All

Recommended websites

www.bized.co.uk

www.tutor2u.net

www.economicsonline.co.uk

www.economist.com

http://www.bbc.co.uk/news/business/

All

Equipment

Pen, pencil, ruler, calculator

All

 

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