The Cambridge International AS and A Level Economics (9708)

The Cambridge International AS and A Level Economics (9708) syllabus provides students with a comprehensive understanding of economic theory, principles, and real-world applications. The course covers both microeconomics and macroeconomics, enabling students to develop analytical and critical thinking skills essential for understanding economic issues at the individual, national, and global levels.

Key Areas of Study:

1. Microeconomics:

  • The Basic Economic Problem:
    • Understanding scarcity, choice, and opportunity cost.
    • Differentiating between economic goods, free goods, and the role of factors of production (land, labor, capital, and enterprise).
  • Demand and Supply:
    • Laws of demand and supply, price elasticity, and income elasticity.
    • How markets work, and the concept of market equilibrium and disequilibrium.
  • Market Failure:
    • Causes and consequences of market failure, such as public goods, externalities, information asymmetry, and the tragedy of the commons.
    • Government intervention, taxation, subsidies, price controls, and regulation to correct market failure.
  • The Theory of the Firm:
    • Market structures (perfect competition, monopoly, monopolistic competition, and oligopoly).
    • Profit maximization, revenue maximization, and firm behavior in different market structures.
    • Costs of production: short-run vs. long-run, economies and diseconomies of scale.

2. Macroeconomics:

  • National Income and Output:
    • Measurement of national income using GDP, GNP, and NNP.
    • Circular flow of income, aggregate demand (AD), and aggregate supply (AS).
    • Concepts of economic growth, inflation, unemployment, and their causes.
  • Macroeconomic Objectives:
    • Goals of economic policy: full employment, price stability, balance of payments stability, economic growth, and equitable income distribution.
    • Conflicts between macroeconomic objectives and how governments balance them.
  • Government Policy:
    • Monetary policy (interest rates, money supply), fiscal policy (taxation, government spending), and supply-side policies (education, labor market reforms).
    • The role of central banks and how policy affects inflation, employment, and growth.
  • International Economics:
    • Trade theories (comparative advantage, absolute advantage).
    • Free trade, protectionism, tariffs, quotas, and trade blocs (WTO, EU, NAFTA).
    • Exchange rates: fixed vs. floating, and factors affecting exchange rates.
    • Balance of payments and its components (current account, capital account).

3. Development Economics (A Level only):

  • Economic Development:
    • Differentiating between economic growth and economic development.
    • Factors that influence development (education, health, infrastructure, governance, institutions).
  • Barriers to Development:
    • External debt, political instability, corruption, lack of investment, and poor infrastructure.
    • Role of international aid, NGOs, and multinational organizations like the World Bank and IMF in supporting development.
  • Sustainable Development:
    • Balancing economic development with environmental sustainability.
    • Examining policies for sustainable growth and development.

Assessment:

AS Level:

  1. Paper 1: Multiple Choice (40%)

    • 30 multiple-choice questions testing understanding of core microeconomic and macroeconomic principles.

  2. Paper 2: Data Response and Essays (60%)

    • Section A: Data response questions based on a given economic scenario, requiring application of economic theory.
    • Section B: Essay questions covering various topics in microeconomics and macroeconomics.

A Level (includes AS content):

  1. Paper 3: Multiple Choice (30%)

    • 30 multiple-choice questions covering both AS and A Level topics.

  2. Paper 4: Data Response and Essays (70%)

    • Section A: Data response questions focusing on macroeconomic and international economic topics.
    • Section B: Essay questions focusing on advanced microeconomic and macroeconomic concepts, including development economics.

Skills Developed:

  • Analytical Thinking: Ability to analyze and interpret economic data and make informed judgments about economic policies and decisions.
  • Critical Evaluation: Understanding the limitations and potential side effects of various economic policies.
  • Problem Solving: Applying economic theories to real-world situations and predicting potential outcomes of different economic actions.
  • Quantitative and Qualitative Analysis: Developing the ability to work with numerical data as well as qualitative information to explain economic phenomena.

Career Pathways:

Studying economics at the AS and A Level provides a solid foundation for various career options, including:

  • Finance and Banking: Careers in investment banking, financial analysis, and corporate finance.
  • Public Policy and Government: Working in economic policy-making, public administration, and regulatory bodies.
  • International Relations and Development: Careers with international organizations like the World Bank, IMF, or NGOs involved in development work.
  • Business and Management: Economics is highly relevant for roles in marketing, management, and business strategy.
  • Research and Academia: Pursuing further studies in economics, leading to roles in research, academia, and economic consultancy.

Course Benefits:

  • Real-World Application: The syllabus is designed to apply economic theory to real-world issues, including current events, policies, and global challenges.
  • Global Perspective: Emphasis on both local and international economic issues, fostering a broad understanding of the global economy.
  • Critical Skills for University: The course prepares students for higher education in economics, business, or related fields, providing strong analytical and critical skills.

The Cambridge A-Level Economics course offers an excellent foundation for understanding both individual economic behavior and the broader economic forces that shape our world. It equips students with the analytical tools needed to evaluate economic policies, make informed decisions, and understand the complexities of modern economies.

Comments

Post a Comment

Popular posts from this blog

Improve your video exercise experience

 The rising availability of video exercises has been one  positive  aspect of the pandemic. Even after two years, a lot of fitness centers still regularly broadcast live courses, and it's easier to get online video workouts. According to Dr. Edward Phillips, an assistant  professor  of physical medicine and rehabilitation at Harvard Medical School, "online workouts are ideal because you can do them at your leisure and stop and repeat as needed." "They also are a great option if you aren’t ready to return to the gym, or want a new way to exercise." To make the most of your online experience, if you  choose  to log on, remember these simple guidelines. 1. Select the appropriate exercise.  You may probably discover a variety of  exercises  on the internet that suit your goals, hobbies, and degree of fitness. Certain exercises, such as body-weight training, resistance band exercises, low-impact aerobics, and balance training (yoga and tai chi), have a particular emp
Read more

Advice on selecting walking shoes

 Walking is a popular and useful low-impact workout that you can do practically anyplace. An additional benefit of walking that is frequently noted is that all you actually need is a good pair of shoes. However, if you're walking everywhere you go in  comfortable  but well-worn sneakers, it might be time to get a new pair of walking shoes. As a matter of fact, after 300 to 500 miles, some experts  advise replacing  your walking shoes. Walking vigorously for thirty minutes every day, five days a week, means you'll need a new pair of shoes every six to twelve months. Additionally, wearing brand-new, properly fitting walking shoes might make you go a little farther and with a little more bounce in your stride. Keeping your feet content Wearing the proper shoes can help you prevent common foot and ankle ailments including Achilles tendonitis (inflammation of the  tendon  that connects the calf muscle to the heel) and plantar fasciitis (inflammation of the fibrous band of tissue on
Read more

Work balance drills into your hectic schedule

Incorporating balance exercises into an  already  busy schedule may seem like too much work. When you're already working, running errands, and exercising every day, how are you going to fit in another 30-minute routine? The solution is to gradually increase your balance exercise. "Even a little balance practice every now and then adds up. It becomes simpler to perform daily tasks as your balance grows better, according to Kristina Dunlea, a physical therapist at Brigham and Women's Hospital, which is connected with Harvard. To securely carry out upright tasks,  including  walking, rising and falling from a chair or bed, climbing stairs, or reaching up to retrieve a dish from a cupboard, we need to have good balance. Regretfully, as we age, our ability to balance decreases, raising the possibility of falls. locating the necessary time Dunlea suggests fitting a  balancing  exercise into a spare moment that's already scheduled into your day, as it just takes a minute. &qu
Read more