Course Content
Price System, Microeconomy: Consumer Theory
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Price System, Microeconomy: Efficiency and market failure, Private costs and benefits, externalities and social costs and benefits
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Price System, Microeconomy: Types of cost, revenue and profit, short-run and long-run production
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Price System, Microeconomy: Different market structures
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Price System, Microeconomy: Growth and survival of firms; Differing objectives and policies of firms
0/2
Government microeconomic intervention
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Labour market forces and government intervention
0/3
Macroeconomy: circular flow of income
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Macroeconomy: Economic growth and sustainability, Employment, Money and banking
0/3
Government macroeconomic intervention
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Government macroeconomic policy objectives
00:00
Links between macroeconomic problems and their interrelatedness
00:00
Effectiveness of policy options to meet all macroeconomic objectives
00:00
International economic issues
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CAIE Alevel Economics (A2)
Content
  • Inflation: Governments aim to maintain price stability by keeping inflation within a target range.
    • Low and stable inflation promotes economic efficiency, encourages investment, and protects the purchasing power of the currency. Central banks often have a specific inflation target they aim to achieve through monetary policy.
  • Balance of Payments: Governments strive to achieve a sustainable balance of payments, which reflects the country’s economic transactions with the rest of the world.
    • They aim to maintain a balance between exports and imports, attract foreign direct investment, promote competitiveness, and manage exchange rates to support international trade and financial stability.
  • Unemployment: Governments aim to promote full employment or reduce unemployment to an acceptable level.
    • They implement policies to stimulate job creation, provide training and education, support labor market flexibility, and promote economic growth to generate employment opportunities.
  • Growth and Development: Governments seek to foster sustainable economic growth and development.
    • They implement policies to encourage investment, innovation, and productivity improvements, as well as support infrastructure development, research and development, and entrepreneurship.
    • The objective is to enhance living standards, create new employment opportunities, and improve overall economic well-being.
  • Sustainability: Governments increasingly focus on promoting sustainable development, which involves balancing economic growth with environmental protection and social well-being.
    • They implement policies to address climate change, promote clean energy, protect natural resources, and encourage sustainable consumption and production patterns.
  • Redistribution of Income and Wealth: Governments aim to reduce income and wealth inequality by implementing policies that promote a fair distribution of resources.
    • These may include progressive taxation, social welfare programs, minimum wage policies, education and training initiatives, and targeted support for disadvantaged groups.
    • The objective is to ensure that the benefits of economic growth are shared equitably among the population.
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