Paper 1: Written Paper – 2 hours 33% of overall exam Topics are: Paper 1 Microeconomics: Markets and Business Behaviour includes:
Supply and Demand, costs, production, profit and market structures.
Price mechanism, taxes and subsidies, externalities and public goods.
Government intervention, wage determination and government failure.
Paper 2: Written Paper – 2 hours 33% of overall exam Topics are: Macroeconomics: The National and Global Economy Includes: Εconomic performance, aggregate demand, consumption and investment.
Causes of economic growth, the multiplier, trade cycle and unemployment.
Globalisation, exchange rates, balance of payments and developing countries
Paper 3: Written Paper – 2 hours 33% of overall exam Topics are: Microeconomics and Macroeconomics
Includes: Combining both themes to show an overall understanding of Economics.
Students apply their knowledge and understanding, making connections and applying higher order thinking across all four themes.