Review/Revision
Unit 3.3(4): The conflict between macroeconomic objectives(HL)
This page covers the nature of the Phillips Curve, the theory behind it, and the short-run and long-run Phillips Curves. The Phillips curve describes the relationship between inflation and unemployment...
Review/Revision
Unit 3.3(3): Macroeconomic objectives: Inflation and deflation
This page covers the nature of inflation, how inflation is measured, its causes, and its consequences. It also covers deflation. Inflation is the sustained increase in the general level of prices in...
Review/Revision
Unit 3.3(2): Macroeconomic objectives: unemployment
This page covers the nature of unemployment, measuring unemployment, the causes of unemployment, and its consequences. Unemployment is the count of jobless people in a country seeking work but not having...
Review/Revision
Unit 3.3(1): Macroeconomic objectives: economic growth
This page covers the nature of economic growth, actual output and potential output and the costs and benefits of economic growth. Economic growth is the increase in a country’s real GDP over a given...
Review/Revision
Unit 3.2(2): Variations in economic activity - aggregate supply
This page covers the nature of aggregate supply, short-run and long-run aggregate supply, the relationship between aggregate supply and the average level and the impact of costs and taxes on aggregate...
Review/Revision
Unit 3.1(2): Measuring Economic Development
This page covers the nature of economic development, how economic development is measured using real GNI per capita and alternative measures of economic development such as HDI and the World Happiness...
Review/Revision
Unit 3.2(1): Variations in economic activity - aggregate demand
This page covers the components of aggregate demand: consumption, investment, government expenditure and net exports. A country's economic activity level is measured by its real GDP, which is determined...
Lesson plans
Community surplus additional questions
This page includes a short, relatively straightforward revision exercise that you can distribute to your classes to complete either in class or at home. I generally give this to my classes, have them...
Review/Revision
Unit 3.1(1): Measuring the level of economic activity
This page covers the nature of macroeconomic activity, national income, the circular flow model and measuring GDP and GNI. National income is the monetary value of a country's output of final goods and...
Assessment
Mark scheme Q1 microeconomics (unit 2.5-2.6)
This exam style question was written for the new syllabus and can be completed as a homework or in class written task. Section B questions now require candidates to explicitly apply their response to...