Economics

Assessment

aper 1-33.3 A 2-hour written paper covering: • Economic methodology and economic problems • Individual economic decision making • Price determination in a competitive market • Production, costs and revenue • Perfect competition, imperfectly competitive markets and monopoly • The labour market • The distribution of income and wealth: poverty and inequality • The market mechanism, market failure and government intervention in markets Paper 2-33.3 A 2-hour written paper covering: • The measurement of macroeconomic performance • How the macroeconomy works • Economic performance • Financial markets and monetary policy • Fiscal policy and supply-side policies • The international economy Paper 3-33.3 A 2-hour written paper, no additional content is required from that covered for Paper 1 and Paper 2