This course will help you prepare for your examinations in a thorough and methodical way as it follows the syllabus outline, explaining and expanding on material in the course syllabus. Links between different parts of the syllabus are noted and key terms essential to your understanding are emphasized throughout. No previous knowledge of economics is required, as the course will build up your knowledge from scratch. Successful candidates would be benefiting from an internationally recognized qualification that would enhance their future career prospects, or to gain entry at undergraduate degree level.
This A2 course consists of two units:
- A2 Unit 3 Business Economics and Economic Efficiency
- A2 Unit 4 The Global Economy
The A2 Units
A2 Unit 3 Business Economics and Economic Efficiency
Learning Hours： 90
This unit develops the content of unit 1 and examines how the pricing and nature of competition between firms is affected by the number and size of market participants. At the end of this unit you should be able to analyse the pricing and output decisions of firms in different contexts. You should also be capable of making an appraisal of government intervention aimed at promoting competitive markets.
- The different motivations of firms
- How economists account for growth of firms
- How revenue, costs, and profits are calculated
- The meaning of efficiency
- The nature of different market structures
- How Market structures influence competition
- Why monopoly is commonly argued to be inefficient
- The role of game theory in explaining competition
- Why governments sometimes intervene in markets
A2 Unit 4 The Global Economy
Learning Hours： 90
This unit develops the knowledge and skills gained in the unit 2 to be applied in a global context. The application, analysis and evaluation of economic models are required as well as an ability to assess policies that might be used to deal with economic problems. Students should be aware of recent trends and developments in the global economy.
- What are the causes and effects of globalization?
- The Balance of payments and exchange rates
- Monetary union
- The benefits of international trade
- Free trade and trade protection
- Poverty and inequality
- Stability and growth
- International competition