Cambridge · A Level · Syllabus 9708
Economics
6 topics6 with notes
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Form 5 · Lower 6 2 topics
- Basic economic ideas and the price system Scarcity, choice and opportunity cost; the economic problem; positive and normative statements; factors of production; resource allocation in market, planned and mixed economies; production possibility curves; money (functions and characteristics); classification of goods (free, private, public, merit, demerit).
- Government microeconomic intervention and market failure Externalities (positive and negative; marginal social cost and benefit diagrams; deadweight loss), public goods and the free-rider problem, merit and demerit goods, information failure, monopoly power.
Form 6 · Upper 6 1 topicsExam year
Form 5 · Lower 6 2 topics
- The macroeconomy and government macro policy GDP, GNI, NNI; nominal and real; per capita; the circular flow; aggregate demand (C + I + G + X − M) and aggregate supply (short and long run); macroeconomic equilibrium.
- International economic issues Absolute and comparative advantage; terms of trade (index of export prices ÷ index of import prices × 100); free trade and protectionism; trading blocs and economic integration (free trade areas, customs unions, common markets, monetary unions); the WTO.