EC2 Excel
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EC2 Excel
Revision — Cambridge Economics (0455) — EC2 Excel
Section 1 · The basic economic problem
1.1
The nature of the economic problem
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1.2
The factors of production
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1.3
Opportunity cost
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1.4
Production possibility curve (PPC) diagrams
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Section 2 · The allocation of resources
2.1
Microeconomics and macroeconomics
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2.2
The role of markets in allocating resources
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2.4
Supply
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2.5
Price determination
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2.6
Price changes
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2.8
Price elasticity of supply (PES)
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2.9
Market economic system
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2.10
Market failure
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2.11
Mixed economic system
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2.3
Demand
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2.7
Price elasticity of demand (PED)
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Section 3 · Microeconomic decision makers
3.1
Money and banking
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3.2
Households
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3.3
Workers
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3.4
Trade unions
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3.5
Firms
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Section 4 · Government and the macroeconomy
4.1
The role of government
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4.2
The macroeconomic aims of government
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4.3
Fiscal policy
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4.4
Monetary policy
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4.5
Supply-side policy
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Section 5 · Economic development
5.1
Living standards
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5.2
Poverty
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5.3
Population
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5.4
Differences in economic development between countries
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Section 6 · International trade and globalisation
6.1
International specialisation
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6.2
Globalisation, free trade and protection
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6.3
Foreign exchange rates
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6.4
Current account of balance of payments
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3.6
Firms and production
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3.7
Firms' costs, revenue and objectives
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3.8
Market structure
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4.6
Economic growth
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4.7
Employment and unemployment
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4.8
Inflation and deflation
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