Scheme of Work Edexcel AS Economics Unit 2 Managing the Economy

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date
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Contents Activities/ Reading Prep
1 1.3.1
Introdction to Economics! the economic "ro#lem
$ants % needs .&. limited resorces. What' ho$ and for
$hom( )actors of "rodction. *efinition of Economics
+the stdy of the efficient allocation of resorces.,
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11-economics-micro-acti&ity-econintro.htm
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edition Economics ".202
3o com"lete the 4i.ed acti&ity
on +What is economics a#ot(,
203 2.3.2
5irclar flo$ of income! the interaction #-t firms and
hoseholds. 6ey terms factor incomes' consmer
ex"enditre' tax' in&estment' 7o&t ex"enditre'
ex"orts' im"orts' sa&ings' leakages % in8ections. An
ex"lanation of ho$ this affects 7*9. *ifferent
methods of accontancy.
Anderton' 2
th
edition Economics ".1/101/:
Anderton ".1/: *ata ;es"onse
<estion on "ro#lems of sing
7*9 "er ca"ita to com"are
li&ing standards.
*esign an A3 "oster on 5)=
>02 2.32 % 2.33
4siness cycle! analysing % e&alating the different
stages of the cycle. What is the trend rate of gro$th(
?o$ does it hel" to ot the #siness cycle in context(
Why is sstaina#le gro$th a key economic o#8ecti&e(
6ey terms exogenos % endogenos shocks' #oom'
slm"' recession' de"ression' slo$do$n' reco&ery'
ex"ansion' inflationary % deflationary ga"s.
Article on difference #-t recession %
de"ression
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nal-acti&ity-context12.htm
5om"lete acti&ity on sing data
to accrately analyse trends in
the #siness cycle.
20/ 2.33
Aggregate *emand @A*A! nderstanding the different
com"onents of A* and ho$ changes to these
com"onents $ill affect 7*9 % economic gro$th.
Em"hasis is gi&en to analysing $hy these changes ha&e
occrred. 9"ils $ill also need to #e a#le to dra$ the
A* cr&e. 6ey terms A*B5CIC7C@D0MA.
2 minte re&ision test on key terms % the #asics
Use diagrams to ex"lain atonomos and "lanned
consm"tion
Use formla to ex"lain ho$' in eEili#rim ot"t
and income' SBI
)ormla for M95 % M9S and 5onsm"tion
fnction
3F mark Eestion on
consm"tion
Week/
date
Link to
Syllabus
Contents Activities/ Reading Prep
/0: 2.33 % 2.32
A* @contA! Ex"lanation of ho$ changes to the
different com"onents of A* case a rise or fall in G=.
Ex"lanation of the mlti"lier and diagrammatical "roof
of the "henomenon. G.4. )ormla C calclations of 6
not reEired. 3ime shold #e gi&en o&er to e&alating
the difficlty in calclating the tre si.e of 6 and the
significance of time lags. 3ime shold also #e gi&en
o&er to ex"laining shifts in A* cr&e.
A* <estions
Anderton' 2
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Edition ".23H02>3
5onsm"tion % Income <s
*ata <estion!
Anderton ".2>302>>>
1 2.3./
7ro$th What leads to gro$th( 7ro$th mst #e
distingished changes in 7*9 i.e. 7*9 can still rise #t
a slo$er rate. 9"ils $ill #e ex"ected to list factors
that affect the rate of gro$th e.g. in&estment'
migration etcI )rthermore' ""ils mst identify and
e&alate the costs and #enefits of gro$th.
Economic gro$th in 5hina % India ho$ theyJ&e
done it and "ro#lems associated $ith it 3H!F1
+*o the #enefits of economic
gro$th ot$eigh its costs(,
*iscss @3FA
1F 2.3> % 2.32
Aggregate S""ly @ASA! What factors affect the
amont that firms are $illing to s""ly( Ex"lanation of
the difference #-t a shift in the AS cr&e and a
mo&ement along. Ex"lanation of the difference #-t the
short and long rn and dra$ing #oth AS cr&es
@6eynesianA
EEili#rim le&el of ot"t! Using diagrams to sho$
ho$ this "oint is fond and $hat cases it to change.
Anderton' 2
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Edition ".2>20221
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Edition ".2230221
A* % AS test
End of term 9a"er Edexcel Unit 3 Kne 2FF:
AS % A* Analysis
11 2.31
Inflation! 4e a#le to gi&e a $orking definition of
inflation. Ex"lanation of the 59I and ho$ it is
calclated. Why is inflation considered to #e sch a
"ro#lem( Is there any time $hen inflation is deemed
to #e good(
Anderton' 2
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Edition ".2F102F/
*ck tales inflation cli" >!2/
*ata <estion!
Anderton ". 2FH
Inflation worksheet
12013 2.31
Unem"loyment! What is nem"loyment and $hy does it
occr( ?o$ is it measred the differences #-t the
ILM sr&ey and the claimant cont. Analysis of the
for different ty"es of inflation @G.4. ?ysteresis is
not neededA seasonal' cyclical' strctral % frictional.
E&alation of the im"act of migration on U.
Anderton' 2
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Edition ".113011:
Week/
date
Link to
Syllabus
Contents Activities/ Reading Prep
1> 2.31
4alance of 9ayments @4o9A! An ex"lanation of 4o9.
)ocs is on crrent a-c and its com"onents. Em"hasis
on #alance of trade. What cases sr"lses and
deficits(
?man *e&elo"ment Index @?*IA! *oes the ?*I hel"
to com"are li&ing stds #-t contries( What are the 3
com"onents( An ex"lanation of "rchasing "o$er
"arities @999A.
Anderton' 2
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Edition ".2F:0213
Anderton' 2
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Edition ". 1:/011F % ".22:02/2
Inter"reting 4o9
<estions on 4o9
5alclating a nationJs #alance of
"ayments
9re" instrctions
12 2.3.1
Measring de&elo"ment the focs is on the se of the
?*I. 9"ils shold #e a#le to assess the limitations of
sch a measrement to com"aring li&ing standards
#et$een contries in addition to kno$ing the three
main com"onents.
?*I *e&elo"ment 5li" :!21

1H01: 2.3.:
Macroeconomic "olicy 9"ils mst ha&e a good
$orking kno$ledge and nderstanding of fiscal and
monetary "olicy. 3hey mst #e a$are that monetary
"olicy' since 111H' is in the hands of the 4ank of
England. )rthermore' they mst a""reciate the
difference #-t demand0side and s""ly0side "olicies
and ho$ #dget deficits im"act "on A*.
9re04dget checklist acti&ity
9re04dget measres *aily 3elegra"h article
)inance crisis in gra"hics
Macro economic "olicies
1/01H 2.3.H
Macroeconomic o#8ecti&es of the 7o&ernment ""ils
shold #e a$are of and kno$ledgea#le on crrent U.6.
macroeconomic "olicy as $ell as "olicy o#8ecti&es.
What are the "otential conflicts that arise throgh
trying to meet different o#8ecti&es and ho$ can they
#e o&ercome(
5onflicts in 7o&t. "olicy 0 Acti&ity
Macro o#8ecti&es 0 Acti&ity
1102F 2.3.1
5onflicts arising from the se of different "olicy
instrments ""ils mst #e a$are of conflicts #-t
fiscal and s""ly0side "oliciesN the inflationary effects
of fiscal "olicy in the short0rnN the se of green
taxesN ho$ a change in the interest rate affects the
distri#tion of income.