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Edexcel A-level Economics A

Theme 2: The UK economy, performance and policies

The Ceteris modules for Edexcel A-level economics, The UK economy, performance and policies, listed under each specification section. Each module teaches one idea, with questions through the page.

2.1 Measures of economic performance

Nominal and real numbersTell a nominal figure from a real oneConcept · 6 min · FreeConverting a nominal figure to a real oneConvert a nominal figure into a real oneCalculation · 6 minWhat GDP measuresSay what GDP counts and what it leaves outConcept · 7 minMeasuring inflation with a price indexBuild a price index and work out an inflation rate from itCalculation · 7 minDemand-pull and cost-push inflationTell demand-pull inflation from cost-pushTell them apart · 6 minMeasuring unemploymentSay who counts as unemployed and who does notConcept · 7 minTypes of unemploymentSort a case of unemployment into its typeTell them apart · 8 minWhat economic growth is, and what it is notTell growth from a recovery, and real growth from nominalConcept · 7 minThe balance of paymentsSay what the current account records and what a deficit meansConcept · 8 min

2.2 Aggregate demand (AD)

Aggregate demandSay what aggregate demand is and name its four partsConcept · 7 min

2.3 Aggregate supply (AS)

Short-run and long-run aggregate supplyTell short-run aggregate supply from long-runTell them apart · 6 min

2.4 National income

The circular flow of incomeFollow a pound round the circular flow and name each leakHow it works · 7 minThe multiplierWork out a multiplier and apply it to an injectionCalculation · 7 min

2.5 Economic growth

What economic growth is, and what it is notTell growth from a recovery, and real growth from nominalConcept · 7 min

2.6 Macroeconomic objectives and policies

Fiscal policySay what fiscal policy is and which way each tool pullsConcept · 6 minMonetary policySay what monetary policy is and who sets itConcept · 7 minThe transmission mechanismFollow an interest-rate change through to inflationHow it works · 6 minSupply-side policyTell a market-based supply-side policy from an interventionist oneTell them apart · 6 minDo macro objectives conflict?Weigh the conflicts between growth, inflation and the balance of paymentsDebate · 7 min