September
| 1 | What is Economics? | Edexcel Unit 1 specification and information about course. | Reading and exercises in Anderton chapter 1 |
| 2 | Demand.Supply | | Drawing demand curves and showing changes due to changes in various factors with written explanation. Drawing supply curves and showing changes due to changes in various factors with written explanation. |
| 1 | Markets: demand and supply | Reading in Anderton. Exercises in Anderton. | Supply and demand diagrams, showing changes in market p and q due to changes in various factors with written explanation. |
October
| 2 | Elasticities. Surpluses and efficiency | Elasticity calculations. | Illustrating and explaining changes to CS, PS and SS. |
| 2 | Taxes and subsidies. Production possibility frontiers | | Illustrating and explaining changes to CS, PS and SS due to tax/subsidy. Reading in Anderton. Drawing PPFs and showing changes due to changes in various factors with written explanation. |
| November | 2 | Efficiency and market failure. Marginal costs and benefits | | |
| December | 2 | Externalities. Information failure Government failure. Intervention | | |
January
| 3 | Bookkeeping: revenue, cost, profit. Market structure and entry/exit barriers | Issue Edexcel Unit 3 specification. | Reading and exercises in Anderton. |
February
| 2 | Perfect competition.Imperfect competition: monopolisticcompetition | | Reading in Anderton. Essay on perfect competition e.g. Are there any perfectly competitive markets? Essay e.g. Can monopolistically competitive firms make positive profits? |
| 2 | Game theory and oligopoly | | Reading in Anderton. Essay on collusion. |
March
| 2 | Monopoly | | Reading and exercises in Anderton. Essay on price discrimination. |
| 3 | Firms objectives. Growth of firms Monopsony | | Essay on objectives. Reading and exercises in Anderton. |
| April | 2 | Efficiency. Regulation | | Reading in Anderton. Essay: Is a monopoly ever efficient? |
April - May
| 4 | Specialization and advantage Globalization | Issue Edexcel Unit 4 specification. | Reading and exercises in Anderton. Essay on globalisation: e.g. To what extent is globalization desirable? |
May
| 2 | Trade, protectionism and international competitiveness | Look at economic part of BNP manifesto to stimulate discussion.
| Reading in Anderton. Essay: e.g. Does protectionism result in prosperity? |
| 2 | Currency regimes, optimal currency areas and monetary union | | Essay on e.g. Euro: Should Britain join the Euro? |
| 5 | Standards of living. Economic development. Government intervention | | Reading in Anderton. Essay: How should standards of living be measured?, Is the HDI a useful measure of standards of living? Prepare and give presentation on development in country of choice. |
