Exam Board: OCR Level: A-level Subject: Economics First Teaching: September 2015 First Exam: June 2016

This 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