This is one of a set of Powerpoints (and accompanying Notes/Key Terms sheets) that I have created for my own teaching of the macroeconomic topics in the new (linear) AQA AS Economics specification (7135). They follow the order of teaching recommended by the exam board and (generally) the AQA-approved textbook (Powell & Powell, 2015).
Key terms covered in this Powerpoint: (references to the specification):
3.2.2.2 Aggregate demand and aggregate supply analysis
• Changes in the price level are represented by movements along the aggregate demand (AD) and aggregate supply (AS) curves.
• The various factors that shift the AD curve and the short-run AS curve.
• The factors which affect long-run AS distinguish them from those which affect short-run AS.
• Underlying economic growth is represented by a rightward shift in the long-run AS curve.
• How to use AD/AS diagrams to illustrate macroeconomic equilibrium.
• How both demand-side and supply-side shocks affect the macroeconomy.
3.2.2.3 The determinants of aggregate demand
• What is meant by AD.
• The determinants of AD, ie. the determinants of consumption, investment, government spending, exports and imports.
• The basic accelerator process.
• The determinants of savings.
• The difference between saving and investment.
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