Chapter Outlines

Unit 1 - Microeconomics

1. The foundations of economics
2. Competitive markets: demand and supply
3. Market equilibrium and efficiency
4. Elasticities
5. Government intervention
6. Market failure

Unit 1.5 - Theory of the firm (HL only)

7. Costs, revenues and profit
8. Perfect competition
9. Monopoly
10. Monopolistic competition and oligopoly

Unit 2 - Macroeconomics

11. Measuring national economic performance
12. Aggregate demand and aggregate supply
13. Macroeconomic objective: unemployment
14. Macroeconomic objective: low inflation
15. Macroeconomic objective: economic growth
16. Macroeconomic objective: equity in income distribution
17. Fiscal policy
18. Monetary policy
19. Supply-side policies

Unit 3 - International economics

20. International trade
21. Protectionism
22. Exchange rates
23. The balance of payments
24. Economic integration
25. Terms of trade

Unit 4 - Development economics

26. Introduction to economic development
27. Domestic and international factors and economic development
28. Foreign investment, aid, trade and debt
29. The balance between markets and intervention