This section contains tutorials for Cambridge International AS and A Level Economics 9708.
Cambridge International AS & A Level Economics encourages learners to explore their subject in depth. The syllabus has been designed, in consultation with teachers and universities, to help learners develop not only subject knowledge, but also a strong understanding of some of the key concepts that are critical to mastering the subject.
• Scarcity and choice: The fundamental problem in economics is that resources are scarce and wants are unlimited, so there is always a choice required between competing uses for the resources.
• The margin and change: Decision-making by individuals, firms and governments is based on choices at the margin; that is, once behaviour has been optimised, any change will be detrimental as long as conditions remain the same.
• Equilibrium and efficiency: Prices are set by markets, are always moving in to and out of equilibrium, and can be both efficient and inefficient in different ways and over different time periods.
• Regulation and equity: There is a trade-off between, on the one hand, freedom for firms and individuals in unregulated markets and, on the other hand, greater social equality and equity through the government regulation of individuals and markets.
• Progress and development: Economics studies how societies can progress in measurable money terms and develop in a wider more normative sense.
The syllabus is well designed, interesting to teach, accessible to learners and has been updated for first examination in 2022. It explains what you need to know, how they will be assessed, and the relationship between assessment objectives and the examination papers.
- Basic economic ideas and resource allocation
- The price system and the micro economy
- Government Micro economic intervention
- The Macro economy
- Government Macro economic intervention
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