Aggregate Demand (AD) and Aggregate Supply
(AS) analysis
Balance of Payments
Exchange rates
Terms of Trade
Principles of Absolute & Comparative Advantage

A Level —– Paper 3 & 4

Economic growth, economic development and
National Income statistics
Classification of countries
The circular flow of income
Money supply (theory)
Keynesian and Monetarist schools
The demand for money and interest rate determination
Policies towards developing economies; policies of trade and aid

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