Economics

Assessment

Unit 1: The Operation of Markets and Market Failure 20 multiple choice questions and a data response paper. Topics include: How free markets work and why Governments must interfere to address problems like: the over consumption of alcohol and fast food, the under consumption of education and under provision health care, environmental problems. Unit 2: The National Economy in a Global Market 20 multiple choice questions and a data response paper. Topics include: The causes of economic problems like slow growth, inflation unemployment and how governments can seek to address the problems. Unit 3: Business Economics and the Distribution of Income Topics include: • How businesses in both the private and public sector behave. • Why wealth and wage rates differ so widely in the UK economy. • How governments can exercise control on the excesses of the market. Unit 4: The National and International Economy Topics include: • Why China continues to grow rapidly whilst Europe stumbles along. • Whether the Eurozone has any future. • The danger of inflation. Both units are tested via essays, data response, multiple choice and with case study materials.