Exam Board: OCRLevel: A-level Subject: Economics First Teaching: September 2015First Exam: June 2016This textbook has been produced in collaboration with OCR for use with the new 2015 OCR Economics specification, giving you up-to-date material that supports your teaching. This book will enable students to- Develop subject knowledge, with topic-by-topic insight and advice from Peter Smith, a professorial fellow in: Economics and editor of Economic Review- Demonstrate awareness of current issues in economics and build analytical and evaluative skills with new case studies- Build their quantitative skills with worked examples — Accurately explain key economic concepts and issues by learning the key terms throughout the text and in the end of section glossaries- Prepare for exams with practice questions and activities throughout the book Contents Introduction Section 1 — Microeconomics- Part 1 Scarcity and choice—Chapter 1: Introducing economics- Part 2 How competitive markets work—Chapter 2: The coordination problem—Chapter 3: The nature of demand—Chapter 4: The nature of supply—Chapter 5: Market equilibrium and the price system—Chapter 6: Prices and resource allocation-Part 3 Market failure and government intervention—Chapter 7: Market failure and externalities—Chapter 8: Other forms of market failure—Chapter 9: Government intervention and government failure Microeconomics key terms Microeconomics practice questions Section 2 — Macroeconomics- Part 4 Economic policy objectives and indicators of macroeconomic performance—Chapter 10: Macroeconomic performance: inflation—Chapter 11: Macroeconomic performance: employment and unemployment—Chapter 12: Measuring economic performance: economic growth- Part 5 Aggregate demand and aggregate supply—Chapter 13: Aggregate demand—Chapter 14: Aggregate supply and macroeconomic equilibrium- Part 6 The application of policy instruments—Chapter 15: Macroeconomic policy instruments- Part 7 The global context—Chapter 16: International trade—Chapter 17: The balance of payments and the exchange rate Macroeconomics key terms Macroeconomics practice questions Index
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