Exam Board: OCR

Level: A-level

Subject: Economics

First Teaching: September 2015

First Exam: June 2016

This textbook has been produced in collaboration with OCR for use with the new 2015 OCR Economics specification, giving you up-to-date material that supports your teaching. This book will enable students to

- Develop subject knowledge, with topic-by-topic insight and advice from Peter Smith, a professorial fellow in: Economics and editor of Economic Review

- Demonstrate awareness of current issues in economics and build analytical and evaluative skills with new case studies

- Build their quantitative skills with worked examples

- Accurately explain key economic concepts and issues by learning the key terms throughout the text and in the end of section glossaries

- Prepare for exams with practice questions and activities throughout the book

Contents

Introduction

Section 1 - Microeconomics

- Part 1 Scarcity and choice

--Chapter 1: Introducing economics

- Part 2 How competitive markets work

--Chapter 2: The coordination problem

--Chapter 3: The nature of demand

--Chapter 4: The nature of supply

--Chapter 5: Market equilibrium and the price system

--Chapter 6: Prices and resource allocation

-Part 3 Market failure and government intervention

--Chapter 7: Market failure and externalities

--Chapter 8: Other forms of market failure

--Chapter 9: Government intervention and government failure

Microeconomics key terms

Microeconomics practice questions

Section 2 - Macroeconomics

- Part 4 Economic policy objectives and indicators of macroeconomic performance

--Chapter 10: Macroeconomic performance: inflation

--Chapter 11: Macroeconomic performance: employment and unemployment

--Chapter 12: Measuring economic performance: economic growth

- Part 5 Aggregate demand and aggregate supply

--Chapter 13: Aggregate demand

--Chapter 14: Aggregate supply and macroeconomic equilibrium

- Part 6 The application of policy instruments

--Chapter 15: Macroeconomic policy instruments

- Part 7 The global context

--Chapter 16: International trade

--Chapter 17: The balance of payments and the exchange rate

Macroeconomics key terms

Macroeconomics practice questions

Index