Economics Knowledge Organisers - Year 1 Micro

Help your students to help themselves with these Year 1 Microeconomics Knowledge Organiser and Self-Quizzing Sheets. These resource packs provide essential knowledge for your initial economic studies in a condensed, easy-to-understand format.

With a topic-on-a-page, these knowledge organisers record the most essential microeconomics topics covered in the first year of Economics A-Level. This download includes a booklet with 6 knowledge organisers and second booklet where there are gaps in each knowledge organiser for students to fill in to test their memory. Also included are individual files for each topic.

This product has been optimised for AQA Economics A-Level, but should also be useful for students following Eduqas, OCR, and Edexcel Economics A-Levels. This product was developed in response to high demand following the popular Year 1 Macro Knowledge Organisers.

Topics Covered:

Introduction to Economics Knowledge Organiser
-Purpose of Economic Activity
-Economic resources
-Economic problem
-Economic methodology
-PPFs
-Specialisation

Markets Knowledge Organiser
-Market Demand
-Market Supply
-Price Mechanism
-Interrelated markets
-Shifts and slides

Elasticity Knowledge Organiser
-Price Elasticity of Demand (PED), including the relationship between PED and revenue
-Price Elasticity of Supply (PES)
-Income Elasticity of Demand (YED)
-Cross Price Elasticity of Demand (XED)

Market Failure Knowledge Organiser
-Complete vs partial market failure
-Public goods (including quasi public goods)
-Externalities
-Merit and Demerit Goods (please note this uses the AQA definition of public goods, if teaching Edexcel, you’ll need to explain that the definition is disputed)
-Other market imperfections, including information failures, monopoly power and factor immobility

Government Intervention Knowledge Organiser
-Reasons for government intervention
-Indirect taxes
-Subsidies
-Price controls (maximum and minimum prices)
-Regulation
-State provision
-Tradeable permits
-Government failure

Consumer Behaviour Knowledge Organiser
-Rational Decision Making
-Utility
-Behavioural Economics
-Applications of Behavioural Economics (Choice architecture, default choice etc)
-Nudges

Useful for…

Revision Lessons - Move through a whole topic in one go

Independent Revision - Particularly helpful for students who can be a little overconfident with their revision, as it shows where there are gaps

Reference - A single source of key economic principles, a handy alternative to heavy textbooks or needing all of their notes since the start of the course

Topic Overview - Provides a high-level, useful at the start of a topic to show where learning is going

Lesson Starters- Printing off a self-quizzing sheet works well as a retrieval starter

Posters - Students can blu-tac an A3 knowledge organiser somewhere prominent to look at regularly