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Lower Sixth Economics Revision Programme

Easter Holidays 2002


It is vital that you make good use of your Easter holiday, failure to do so will significantly reduce your examination mark in the summer.  The revision programme I have suggested is realistic and I strongly advise you to follow it.


Revision isnít reading through your notes, donít fool yourself into believing it is.  You should revise with a pen in hand, making revision notes that can be used for learning at the time and closer to the exam.  The revision notes should be written using bullet points (or perhaps mind maps), making use of your notes and textbooks if necessary.  Learn the subject material by testing yourself, asking friends and family to test you, using the multiple choice questions on the internet or by attempting questions in the textbooks (I will mark any work you do).  Take care of your revision notes; keep A4 paper in a folder or cards in box/file. 


Revision notes made during the Easter holiday will be collected on Tuesday 16th April, no excuses.


Remember to use the Departmentís internet message board, I will check it everyday and answer any questions you have posted.  Donít be afraid to post your own answers, the more help we give each other, the better youíll do.





Best of luck



Week beginning









Aggregate Demand and Supply


Consumption And Savings


Government Spending

Exports and Imports




Objectives Of Government Macroeconomic Policy

Inflation 1

Inflation 2

Unemployment 1






Economic Growth 1

Economic Growth 2

Balance of Payments 1

Balance of Payments 2

Conflicts Between Macro Economic Objectives




Demand Management or Supply Side?

Economics Today articles on Supply Side

Hand in Easter work


Ec.  problem

Opp. cost

Positive and normative

Ec. resources

Production possibility curves





Absolute and comparative advantage

Economies of scale




Consumer and producer surplus


Price Elasticity of Demand and Supply




Income and Cross Price Elasticity of Demand

Minimum and

Maximum prices


Labour markets

Housing market

Exchange rates

Agricultural products




Defining Externalities

Pollution taxes and regulation

Extending property rights

Tradable pollution permits and Kyoto

Coase theorem

Landfill tax

Merit & De-Merit Goods

Public Goods

Indirect Taxes





Cost Benefit Analysis (CBA)

Barriers to Entry


Make notes from Economics Today articles on Transport

Make notes from Economics Today articles on Healthcare




Lower 6th Study Leave begins





Module 1 and 2 Examinations





During half term it is essential that you spend a substantial amount of time re-enforcing your knowledge for the ECONOMICS

Module 3 Examination on Tuesday 11th June (am).  Use past papers, questions from textbooks and testing to ensure that your knowledge covers all topics within the specification.



Revision Timetable for AS Economics 2002

Revision Checklist


Unit 1

q       Scarcity

q       The economic problem

q       Opportunity cost

q       Positive and normative economics

q       Production possibility curves

q       Economic resources

q       Specialisation

q       Absolute and comparative advantage

q       Economies of scale

q       Demand

q       Supply

q       Equilibrium

q       Entry and exit of firms

q       Shortrun and longrun

q       Consumer surplus

q       Producer surplus

q       Price elasticity of demand

q       Cross elasticity of demand

q       Income elasticity of demand

q       Elasticity of supply

q       Labour markets

q       Housing market

q       Exchange rates

q       Government price controls

q       Minimum prices

q       Maximum prices

q       Agricultural products

q       Indirect taxes

q       Subsidies

q       Economic Systems


Unit 2

q       Defining Externalities

q       Correcting For Externalities - Government Policies

o       Pollution taxes and regulation

o       Extending property rights

o       Tradable pollution permits and Kyoto

o       Coase theorem

o       Landfill tax

q       Merit and De-Merit Goods

q       Public Goods - Provided By The State

q       Indirect Taxes Ė Reducing Negative Externalities

q       Subsidies

q       Cost Benefit Analysis (CBA)

q       Barriers to Entry

q       Monopoly


 Unit 3

q       Aggregate Demand (AD)

q       Aggregate Supply

q       Equilibrium Between Aggregate Demand And Aggregate Supply

q       Consumption And Savings

q       Investment

q       Government Spending

q       Exports and Imports

q       Objectives Of Government Macroeconomic Policy

q       Inflation

q       Unemployment

q       Economic Growth

q       Balance of Payments

q       Conflicts Between Macro Economic Objectives

q       Demand Management or Supply Side?

E-mail Steve Margetts