AQA Economics A-level: The national and international economy, specification 7135, 7136. Macroeconomic performance Government objectives for economic performance Conflicts in performance - e.g. growth vs inflation Macroeconomic indicators - GDP, GNP, GNI, CPI, RPI National income data and evaluation, purchasing power parity Circular flow of income - leakages, withdrawal and equilibrium

AQA Economics A-level (specification 7135, 7136) Includes: Types of goods; public, quasi-public and private Allocation of resources - price mechanism; rationing, signaling, incentive, allocative functions Market failure - examples and eliminating failures Merit and demerit goods Positive and negative externalities in production and consumption Imperfect and asymmetric information Monopoly power Immobility of factors of production Government intervention - arguments for and against Methods of intervention; indirect taxes, subsidies, minimum/maximum price, regulation Cont. information provision, pollution permits etc. Supply-side intervention - free market vs interventionist policies (and evaluation) Government failure; causes, examples, overcoming government failure Competition policy; monopolies, mergers, public ownership Privatisation and evaluation Regulation and deregulation

AQA Economics A-level (specification 7135, 7136) Includes: Difference between income and wealth Determinants of income inequality and wealth inequality Measuring inequality - Lorenz curve and Gini coefficient Evaluation of income and wealth inequality UK income and wealth statistics Problem of poverty - relative vs absolute poverty, causes and impact Policies to alleviate poverty and evaluation

AQA Economics A-level (specification 7135, 7136) Includes: Determinants of labour demand, marginal productivity theory, elasticity of demand Determinants of labour supply Wage determination in perfect competition, monopsony markets etc. Role of trade unions and impacts on market structures National Minimum Wage, impact and evaluation Discrimination in the labour market - conditions and evaluation

AQA Economics A-level (specification 7135, 7136) Includes: Objectives of firms; profit, sales, survival, growth, stakeholders etc. Divorce of ownership from control Allocative, productive and ‘x’ efficiency Growth of firms; internal vs external, horizontal vs vertical vs lateral integration Mergers and takeovers (and evaluation) Perfect competition; conditions, evaluation and price determination Monopolistic competition; assumptions, evaluation, comparison with PC Oligopolistic markets - types of collusion, impact of collusion, evaluation Kinked demand curve Anti-competitiveness, natural/artificial barriers to entry Monopoly power, profit maximisation, barriers to entry, evaluation Analysing efficiency, social burden triangle Price discrimination, conditions and evaluation Contestable markets - conditions, market concentration, impact and determinants Consumer surplus - determinants, price elasticity Producer surplus - determinants Monopsony power and evaluation

AQA Economics A-level (specification 7135, 7136) Specification 4.1.4.1 to 4.1.4.8 Includes: Measuring productivity, impact of increased productivity Policies to improve productivity Specialisation and the division of labour - advantages and disadvantages Costs of production Law of diminishing returns, economies of scale, LRAC Revenue and profit - function of profit Technological change, creative destruction Economies and diseconomies of scale (and evaluations) Minimum efficient scale

AQA Economics A-level (specification 7135, 7136) Includes: Theory of Demand - downward slope curve, exceptions to law of demand Price elasticity of demand and determinants Income elasticity of demand and determinants Cross elasticity of demand and determinants Theory of Supply Price elasticity of supply and determinants Market equilibrium and disequilibrium

For AQA Economics A-level (specification 7135, 7136) Specification points: 4.1.1.1 - 4.1.2.4 Includes: Economic methodology - positive and normative statements Economic problem - needs, wants, scarcity etc. Choice and opportunity cost Economic sectors and units Factors of production PPF graphs and explanations of shifts Consumer behaviour - utility theory, rationality, imperfect/asymmetric information Behavioural economic theory and economic policies - choice architecture, framing, nudges etc. Evaluation of behavioural economics