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Syllabus / Specification / Overview

a level economics edexcel specification (2) edexcel a level economics specification 2025 (2)

Basic Economic Ideas

basic economic ideas (30) classification of goods and services (7) factors of production (7) public goods (7) opportunity cost (7) PPC (6) production possibility curve (5) economic systems (5) short run (5) planned economy vs market economy vs mixed economy (4) scarcity (4) division of labour (3) planned economy (3) positive statement (3) demerit goods (3) normative statement (3) long run (3) specialization (3) short run vs long run vs very long run (3) mixed economy (3) ceteris paribus (3) merit goods (3) command economy (2) how to produce (2) market economy (2) medium of exchange (2) production possibility frontier (2) barter (2) private goods (2) economic methodology (2) PPF (2) free-rider problem (2) for whom to produce (2) double coincidence of wants (2) merit goods vs demerit goods (2) what to produce (2) free goods (2)

Price System and Microeconomy

consumer theory (16) demand curve (9) income effect (5) substitution effect (5) consumer equilibrium (4) elasticities in economics (4) rationing (4) supply curve (4) price elasticity of demand (3) equi-marginal principle (3) inferior goods (3) market equilibrium (3) functions of price (3) PED (3) joint supply (3) XED (3) price elasticity of supply (3) PES (3) YED (3) market disequilibrium (2) Giffen goods (2) substitutes (2) normal goods (2) joint demand (2) income elasticity of demand (2) producer surplus (2) consumer surplus (2) derived demand (2) complements (2) cross elasticity of demand (2) effective demand (2) consumer surplus vs producer surplus (2) market equilibrium vs market disequilibrium (2) signalling (2) budget line (2)

Consumer Theory

indifference curves (8) utility (6) total utility (4) marginal utility (4) indifference curve (3) diminishing marginal utility (3) utility theory (2)

Firm Theory

Economic Efficiency, Market Failure

market failure (25) efficiency (9) public goods (7) Pareto optimality (4) productive efficiency (3) demerit goods (3) allocative efficiency (3) merit goods (3) economic efficiency (2) merit goods vs demerit goods (2) dynamic efficiency (2)

Micro Intervention

market failure (25) taxation (14) micro intervention (8) inequality (5) progressive tax system (4) microeconomic government intervention (4) transfer payments (4) income tax (4) price floor (3) minimum wage (3) indirect tax (3) price controls (3) direct tax (3) minimum price (3) direct tax vs indirect tax (3) gini coefficient (3) subsidy (3) inheritance tax (2) buffer stock (2) marginal rate of tax (2) regressive tax system (2) income vs wealth (2) proportional tax system (2) rates of tax (2) average rate of tax (2) maximum price (2) price ceiling (2)

Macroeconomy

economic growth (19) inflation (18) AD-AS analysis (15) unemployment (14) aggregate demand (10) equilibrium level of national income (7) aggregate supply (7) real GDP (6) GDP (6) types of unemployment (5) national income statistics (5) causes of unemployment (5) circular flow of income (5) frictional unemployment (4) injections vs leakages (4) leakages (4) causes of inflation (4) structural unemployment (4) NNI (3) demand-pull inflation (3) full employment (3) natural rate of unemployment (3) national income (3) injections (3) cyclical unemployment (3) potential growth (3) GNI (3) actual growth (3) cost-push inflation (3) labour force survey (2) purchasing power (2) gross domestic product (2) effects of economic growth (2) real value (2) consequences of unemployment (2) disinflation (2) claimant count (2) consequences of inflation (2) real data (2) investment (2) effects of inflation (2) effects of unemployment (2) deflation (2) gross national income (2) nominal GDP (2) net national income (2) consequences of economic growth (2) demand-deficient unemployment (2) measures of unemployment (2) causes of economic growth (2)

Macro Intervention

fiscal policy (17) macro policy (15) macro intervention (13) monetary policy (12) macro objectives (7) supply-side policy (5) government budget (5) policy (4) budget surplus (3) money supply (3) budget deficit (3) government spending (3) interest rate (3) contractionary fiscal policy (2) quantitative easing (2) contractionary monetary policy (2) expansionary monetary policy (2) national debt (2) expansionary fiscal policy (2) credit regulation (2)

International Trade

international trade (37) balance of payments (17) exchange rate (10) protectionism (6) trade barriers (6) foreign exchange market (5) currency depreciation (4) currency appreciation (4) free international trade (4) trade in services (4) trade in goods (4) balance of trade (3) terms of trade (3) trade possibility curve (2) embargoes (2) export subsidies (2) absolute advantage vs comparative advantage (2) tariffs (2) quotas (2) primary income (2) secondary income (2) imports (2) currency supply (2) currency demand (2) trade balance (2) exports (2) floating exchange rate (2)