AQA A-Level Economics Revision Notes

Following the AQA A-level Economics specification, using the A-level content codes (4.1 and 4.2).

These notes follow the full A-level specification. The AS-only codes (3.1 and 3.2) are not used here.

Notes in specification order

One page per specification statement. Greyed-out statements are coming soon.

4.1 Individuals, firms, markets and market failure

4.1.1Economic methodology and the economic problem

4.1.1.1Economic methodology
4.1.1.2The nature and purpose of economic activity
4.1.1.3Economic resourcesComing soon
4.1.1.4Scarcity, choice and the allocation of resources
4.1.1.5Production possibility diagrams

4.1.2Individual economic decision making

4.1.2.1Consumer behaviour
4.1.2.2Imperfect information
4.1.2.3Aspects of behavioural economic theoryComing soon
4.1.2.4Behavioural economics and economic policyComing soon

4.1.3Price determination in a competitive market

4.1.3.1The determinants of the demand for goods and services
4.1.3.2Price, income and cross elasticities of demand
4.1.3.3The determinants of the supply of goods and services
4.1.3.4Price elasticity of supply
4.1.3.5The determination of equilibrium market prices
4.1.3.6The interrelationship between marketsComing soon

4.1.4Production, costs and revenue

4.1.4.1Production and productivityComing soon
4.1.4.2Specialisation, division of labour and exchange
4.1.4.3The law of diminishing returns and returns to scaleComing soon
4.1.4.4Costs of production
4.1.4.5Economies and diseconomies of scale
4.1.4.6Marginal, average and total revenue
4.1.4.7Profit
4.1.4.8Technological changeComing soon

4.1.5Perfect competition, imperfectly competitive markets and monopoly

4.1.5.1Market structuresComing soon
4.1.5.2The objectives of firms
4.1.5.3Perfect competition
4.1.5.4Monopolistic competition
4.1.5.5OligopolyComing soon
4.1.5.6Monopoly and monopoly power
4.1.5.7Price discrimination
4.1.5.8The dynamics of competition and competitive market processesComing soon
4.1.5.9Contestable and non-contestable markets
4.1.5.10Market structure, static efficiency, dynamic efficiency and resource allocation
4.1.5.11Consumer and producer surplus

4.1.6The labour market

4.1.6.1The demand for labour, marginal productivity theory
4.1.6.2Influences upon the supply of labour to different markets
4.1.6.3The determination of relative wage rates and levels of employment in perfectly competitive labour markets
4.1.6.4The determination of relative wage rates and levels of employment in imperfectly competitive labour markets
4.1.6.5The Influence of trade unions in determining wages and levels of employmentComing soon
4.1.6.6The National Minimum Wage
4.1.6.7Discrimination in the labour marketComing soon

4.1.7The distribution of income and wealth: poverty and inequality

4.1.7.1The distribution of income and wealth
4.1.7.2The problem of poverty
4.1.7.3Government policies to alleviate poverty and to influence the distribution of income and wealthComing soon

4.1.8The market mechanism, market failure and government intervention in markets

4.2 The national and international economy

4.2.1The measurement of macroeconomic performance

4.2.1.1The objectives of government economic policy
4.2.1.2Macroeconomic indicators
4.2.1.3Uses of index numbersComing soon
4.2.1.4Uses of national income data

4.2.2How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts

4.2.3Economic performance

4.2.3.1Economic growth and the economic cycle
4.2.3.2Employment and unemployment
4.2.3.3Inflation and deflation
4.2.3.4Possible conflicts between macroeconomic policy objectivesComing soon

4.2.4Financial markets and monetary policy

4.2.4.1The structure of financial markets and financial assetsComing soon
4.2.4.2Commercial banks and investment banksComing soon
4.2.4.3Central banks and monetary policy
4.2.4.4The regulation of the financial systemComing soon

4.2.5Fiscal policy and supply-side policies

4.2.5.1Fiscal policyComing soon
4.2.5.2Supply-side policies

4.2.6The international economy

4.2.6.1Globalisation
4.2.6.2Trade
4.2.6.3The balance of payments
4.2.6.4Exchange rate systemsComing soon
4.2.6.5Economic growth and developmentComing soon

Topic guides

AQA A-Level Economics: Fiscal and Supply-Side Policies Revision

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