PPT covering Unit 7.6: 7.6 Different market structures 7.6.1 perfect competition and imperfect competition: monopoly, monopolistic competition, oligopoly, natural monopoly 7.6.2 structure of the listed markets as explained by number of buyers and sellers, product differentiation, degree of freedom of entry and availability of information 7.6.3 barriers to entry and exit: • legal barriers • market barriers • cost barriers • physical barriers 7.6.4 performance of firms in different market structures: • revenues and revenue curves • output in the short run and the long run • profits in the short run and the long run • shutdown price in the short run and the long run • derivation of a firm’s supply curve in a perfectly competitive market • efficiency and X-inefficiency in the short run and the long run • contestable markets: features and implications • price competition and non-price competition • collusion and the Prisoner’s Dilemma in oligopolistic markets, including a two-player pay-off matrix 7.6.5 definition and calculation of the concentration ratio video links to key topics

PPT covering unit 8.2 8.2 Equity and redistribution of income and wealth 8.2.1 difference between equity and equality 8.2.2 difference between equity and efficiency 8.2.3 distinction between absolute poverty and relative poverty 8.2.4 the poverty trap 8.2.5 policies towards equity and equality, for example: • negative income tax • universal benefits and means-tested benefits • universal basic income video links to key topics

The nature and causes of changes in the pattern of employment, for example increase in proportion of workers employed in the tertiary sector and formal economy as an economy develops; a greater proportion of women in the labour force due to changes in social attitudes; decline in the proportion employed in the public sector as a country moves towards a market economy. How unemployment is measured – claimant count and labour force survey – the formula for the unemployment rate. Frictional, structural and cyclical unemployment. The consequences of unemployment for the individual, firms and the economy as a whole. The range of policies available to reduce unemployment and how effective they might be. Review of Unit 4 Questions and suggested answers

In terms of primary/secondary/tertiary sectors and private/public sector, and the relative size of firms. The advantages and disadvantages of small firms, the challenges facing small firms and reasons for their existence. Internal growth, for example increased market share. External growth, for example mergers. Examples, advantages and disadvantages of different types of mergers: horizontal, vertical, and conglomerate. How internal and external economies and diseconomies of scale can affect a firm/industry as the scale of production changes. *Unit 3 review Note: detailed knowledge of different types of structure of a firm is not required. Questions with suggested solutions

Changes in interest rates, money supply and foreign exchange rates. How monetary policy measures may enable the government to achieve its macroeconomic aims Review of Unit 4 Questions and suggested answers

Definitions, drawing and interpretation of appropriate diagrams showing the effects of three government microeconomic policy measures: maximum and minimum prices in product, labour and foreign exchange markets; indirect taxation; and subsidies. Definition only of government microeconomic policy measures: regulation; privatisation and nationalisation and direct provision of goods. The effectiveness of government intervention in overcoming the drawbacks of a market economic system. Questions and suggested solutions

Real Gross Domestic Product (GDP) and how it can be used to measure economic growth. GDP per head (capita). Meaning of recession and how a recession moves the economy within its PPC. How changes in total demand may increase the utilisation of resources and GDP resulting in a movement from inside toward the PPC. How economic growth shifts the economy’s PPC to the right and is caused by changes in investment, technology, and the quantity and quality of the factors of production. The costs and benefits of economic growth in the context of different economies. The range of policies available to promote economic growth and how effective they might be. Review of Unit 4 Questions and suggested answers

Wage and non-wage factors. The influences of demand and supply, relative bargaining power and government policy, including minimum wage. How changes in demand and supply, relative bargaining strengths, discrimination and government policy can all influence differences in earnings between workers whether they are: skilled/unskilled; primary/secondary/tertiary; male/female; private sector/public sector. Definition, drawing and interpretation of diagrams that illustrate the effects of changes in demand and supply in the labour market. Advantages and disadvantages for workers, firms and the economy. Questions with suggested solutions

Influences to include demand for the product, the price of different factors of production, their availability and their productivity. The reasons for adopting the different forms of production and their advantages and disadvantages. The difference between, and influences on, production and productivity. *Unit 3 review Questions with suggested solutions

Including the roles of the private sector (firms and consumers) and the public sector (government) in a market economy. Including examples of how it works in a variety of different countries. Questions and suggested solutions

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included income elasticity of demand (YED), cross-price elasticity of demand (XED), price elasticity of supply (PES)

A2 Macroeconomics. Topic -** Money and the economy**. Aids lesson planning with topic related prompts enabling class discussion throughout. PPT - learning objectives, key terms, spec inserts, diagrams, videos and so forth. Exercises taken from Economics - Peter smith

2.3 Demand 2.4 Supply 2.5 Price determination 2.7 PED 2.8 PES 2.10 Market failure Question format

Calculation of PES using the formula and interpreting the significance of the result. Drawing and interpretation of supply curve diagrams to show different PES. The key influences on whether supply is elastic or inelastic. The implications for decision making by consumers, producers and government. Supply and demand review doc Questions and suggested solutions

Changing market conditions as causes of price changes. Demand and supply diagrams to be used to illustrate these changes in market conditions and their consequences for equilibrium price and sales.

Including engaging in collective bargaining on wages, working hours and working conditions; protecting employment and influencing government policy. Factors influencing the strength of trade unions. From the viewpoint of workers, firms and the government. *Unit 3 review Questions with suggested solutions

PPT 1- A2 Econs CIE (to be used with any syllabus) - exercises refered to are from Economics - Peter Smith Objectives provided for syllabus covered. Key words detailed. Relevant diagrams. Syllabus prompts

A2 Macroeconomics. Topic -** Economic and human development**. Aids lesson planning with topic related prompts enabling class discussion throughout. PPT - learning objectives, key terms, spec inserts, diagrams, videos and so forth. Exercises taken from Economics - Peter smith

PPT 2- A2 Econs CIE (to be used with any syllabus) - exercises refered to are from Economics - Peter Smith Objectives provided for syllabus covered. Key words detailed. Relevant diagrams. Syllabus prompts