Specification

 

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Specification
(PDF), Last Updated: 02 August 2010
For first teaching from September 2009, for first award in Summer 2011

We have divided this course into five sections:

  • Basic Economic Ideas;
  • Producing and Consuming;
  • Financial Capability;
  • Managing the Economy; and
  • Trade, Aid and Development.

There is no prescribed teaching order. Teachers can organise this content as they wish. The content of each section is outlined in more detail in the table below.

Section

Content

Basic Economic Ideas
  • Basic Economic Problem
  • Resources and Goods
  • Specialisation

Producing and Consuming
  • Demand, Supply and Price Determination
  • Competition and Growth
  • Costs and Revenue
  • Market Failure

Financial Capability
  • Money and Financial Products
  • Managing Personal Finances
  • Business Finance
  • Financial Services Industry

Managing the Economy
  • Circular Flow of Income
  • The Private and Public Sectors
  • Government Economic Objectives
  • Correcting Market Failure
  • Economic Growth
  • Unemployment
  • Inflation
  • Government Policy Instruments

Trade, Aid and Development
  • Trade
  • Globalisation
  • Exchange Rates
  • European Union

For more information, see the specification.