- Economics as a social science
- Positive and normative economic statements
- The economic problem
- Production possibility frontiers
- Specialisation and the division of labour
- Free market economies, mixed economy and command economy
- Rational decision making
- Demand
- Price, income and cross elasticities of demand
- Supply
- Elasticity of supply
- Price determination
- Price mechanism
- Consumer and producer surplus
- Indirect taxes and subsidies
- Alternative views of consumer behaviour
- Types of market failure
- Externalities
- Public goods
- Information gaps
- Government intervention in markets
- Government failure
- Economic growth
- Inflation
- Employment and unemployment
- Balance of payments
- The characteristics of AD
- Consumption
- Investment
- Government expenditure
- Net trade
- The characteristics of AS
- Short-run AS
- Long-run AS
- National income
- Injections and withdrawals
- Equilibrium levels of real national output
- The multiplier
- Causes of growth
- Output gaps
- Trade (business) cycle
- The impact of economic growth
- Possible macroeconomic objectives
- Demand-side policies
- Supply-side policies
- Conflicts and tradeoffs between objectives and policies
- Sizes and types of firms
- Business growth
- Demergers
- Business objectives
- Revenue
- Costs
- Economies and diseconomies of scale
- Normal profits, supernormal profits and losses
- Efficiency
- Perfect competition
- Monopolistic competition
- Oligopoly
- Monopoly
- Monopsony
- Contestability
- Demand for labour
- Supply of labour
- Wage determination in competitive and non-competitive markets
- Government intervention
- The impact of government intervention
- Globalisation
- Specialisation and trade
- Pattern of trade
- Terms of trade
- Trading blocs and the World Trade Organisation (WTO)
- Restrictions on free trade
- Balance of payments
- Exchange rates
- International competitiveness
- Absolute and relative poverty
- Inequality
- Measures of development
- Factors influencing growth and development
- Strategies influencing growth and development
- Role of financial markets
- Market failure in the financial sector
- Role of central banks
- Public expenditure
- Taxation
- Public sector finances
- Macroeconomic policies in a global context