PPT covering: 8.1 Government policies to achieve efficient resource allocation and correct market failure continued 8.1.2 government failure in microeconomic intervention: • definition of government failure • causes of government failure • consequences of government failure 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 Links to relevant videos

PPT covering the topics of Utility and indifference curves. Each page is question based to determine prior knowledge - good for flipped learning. 7.1 Utility 7.1.1 definition and calculation of total utility and marginal utility 7.1.2 diminishing marginal utility 7.1.3 equi-marginal principle 7.1.4 derivation of an individual demand curve 7.1.5 limitations of marginal utility theory and its assumptions of rational behaviour 7.2 Indifference curves and budget lines 7.2.1 meaning of an indifference curve and a budget line 7.2.2 causes of a shift in the budget line 7.2.3 income, substitution and price effects for normal, inferior and Giffen goods 7.2.4 limitations of the model of indifference curve

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included scarcity, opportunity costs, factors of production etc.

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included private goods, public goods, free-rider problem, exclusivity, rivalrous, merit goods, demerit goods, imperfect information etc

Including income, the rate of interest and confidence between different households and over time. 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

The forms, functions and characteristics of money. The role and importance of central banks and commercial banks for government, producers and consumers. Questions and suggested solutions

Covering the objectives of the syllabus Finite resources and unlimited wants Economic and free goods Questions and proposed solutions

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

PPT 3- 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

The main areas of government spending and the reasons for and effects of spending in these areas. Taxation as the main source of government revenue and the reasons for levying taxation. Examples of the different classifications of tax; progressive, regressive, proportional; and direct, indirect. The qualities of a good tax. The impact of taxation on consumers, producers, government and economy as a whole. The tax and spending changes, in the form of fiscal policy, that cause budget balance or imbalance. Including calculations of the size of a budget deficit or surplus. How fiscal policy measures may enable the government to achieve its macroeconomic aims. Note: aggregate demand and aggregate supply are not required. Review of Unit 4 Questions and suggested answers

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included the PPC scarcity, opportunity costs, efficiency etc.

How a market system works; including buyers, sellers, allocation of scarce resources, market equilibrium, and market disequilibrium. Establishing that the economic problem creates three key questions about determining resource allocation What, how, and for whom to produce? How the price mechanism provides answers to these key allocation questions. Questions and suggested solutions

Economic growth, full employment/low unemployment, stable prices/low inflation, balance of payments stability, redistribution of income. Reasons behind the choice of aims and the criteria that governments set for each aim. Possible conflicts between aims: full employment versus stable prices; economic growth versus balance of payments stability; and full employment versus balance of payments stability Review of Unit 4 Questions and suggested answers

Real GDP per head and the Human Development Index (HDI). The components of real GDP and HDI. The advantages and disadvantages of real GDP and HDI. Reasons for differences in living standards and income distribution within and between countries. Questions and suggested answers

The difference between absolute and relative poverty. The causes of poverty including unemployment, low wages, illness and age. Policies including those promoting economic growth, improved education, more generous state benefits, progressive taxation, and national minimum wage. Questions and suggested answers

The difference between microeconomics and macroeconomics and the decision makers involved in each.

Definitions of the factors of production and their rewards Mobility of the factors of production Quantity and quality of the factors of production Questions and proposed solutions

Definition of PPC points under, on and beyond a PPC movements along a PPC shifts of a PPC Questions and proposed solutions

**Definition of opportunity cost The influence of opportunity cost on decision making** Questions and proposed solutions