A Level Economics

Edexcel Specification — Themes 1 to 4

Edexcel Themes Overview

Theme 1

Introduction to Markets & Market Failure

Scarcity, PPC, supply & demand, price mechanism, elasticities, market failure, externalities, government intervention.

Theme 2

The UK Economy — Performance & Policies

Measures of economic performance, AD/AS, fiscal & monetary policy, supply-side policies, conflicts.

Theme 3

Business Behaviour & the Labour Market

Business objectives, revenues, costs, profit, market structures (perfect competition, monopoly, oligopoly), labour market.

Theme 4

A Global Perspective

Globalisation, trade, protectionism, exchange rates, balance of payments, development, inequality.