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AS/A Level Economics 9708
Unit 1: Introductory ideas and the price system
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Recommended Prior Knowledge
This Unit starts the course by introducing basic ideas and tools of analysis. Students’ personal experiences as consumer, worker and observer can be drawn into the
exposition of the content.
Context
The material includes demand and supply which will be developed in the following Unit and also used to explain the setting of exchange rates and the effects of some
types of government intervention. Comparative advantage is introduced and will form the basis of international trade in a later Unit.
Outline
The Unit considers the basic ideas of economics and its methods with introductory models of demand and supply and comparative advantage explored.
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Learning outcomes
Suggested Teaching activities
Learning resources
The outcomes indicate the abilities and
skills candidates need to develop in
relation to each section of the syllabus
The following activities may be incorporated into standard exposition of
the subject content
The activities are intended to encourage student involvement
Book references:
Anderton refers to Anderton Economics
(third edition) (Causeway Press)
Bamford refers to Bamford AS Level
and A Level Economics (first edition)
(CUP)
Gillespie refers to Gillespie AS & A
Level Economics Through Diagrams
(new edition) (OUP)
Stanlake refers to Stanlake`s
Introductory Economics by S J Grant
(seventh edition) (Longman)
Website references:
http://www.bized.ac.uk
http://www.imf.org
http://www.jusbiz.org
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Learning outcomes
Suggested Teaching activities
Learning resources
http://www.oheschools.org
http://www.s-cool.co.uk
http://www.tutor2u.net
http://www.worldbank.org
http://www.wto.org
Candidates should
•
understand the context of
economics
•
be aware of the skills involved
•
consider the ‘economist’s toolkit’
Survey the weeks news items to establish economic content.
Bamford Introduction
Stanlake Chap 1
Newspapers and magazines:
Business Week
http://www.businessweek.com
The Economist
http://www.economist.com
The Financial Times
http://www.news.ft.com
The Guardian
http://www.guardian.co.uk
The Independent
http://www.independent.co.uk
The Telegraph
http://www.telegraph.co.uk
The Times http://www.timesonline.co.uk
Television:
BBC http://www.bbc.co.uk
CNN http://www.cnn.com
Students should also be encouraged to
use appropriate newspapers,
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Learning outcomes
Suggested Teaching activities
Learning resources
magazines and television programmes
in their own country and region
1e
Candidates should distinguish
between a positive and normative
statement
Review past exam papers to establish nature of approach and content
http://www.cie.org.uk
http://www.cambridgestudents.org.uk
http://www.learncie.org.uk
Survey press headlines to identify and contrast positive and normative
statements
Anderton Unit 45
Bamford Introduction
Gillespie Page 1
Stanlake Chap 1
Tutor2u Positive and Normative
Economics
1d
Candidates should understand the
concept of the margin and relate
decisions to marginal changes
Contrast marginal and average idea by use of numerical data e.g.
weekly film attendances, golf round scores or goals scored each game
by footballers
Anderton Unit 47
Bamford Chap 9
Gillespie Pages 27, 29 and 30
Stanlake Chap 13
S-cool Costs and their curves
Tutor2u Marginal Costs
1g
Candidates should be familiar with the
economist’s classification of resources
apply the classification to economic
activities
Analyse inputs in contrasting production activities e.g. manufacturing
and farming activity
Anderton Unit 2
Bamford Chap 1
Cotton choices activity
Gillespie Page 1
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Learning outcomes
Suggested Teaching activities
Learning resources
Stanlake Chap 5
Bized Learning materials Economics
Topic 1, Introductory micro-economics,
Jusbiz The real price of cotton
Tutor2u Factors of Production
1a
Candidates should
•
understand the nature of wants
and resources and the resulting
economic problems
•
recognise the operation of
opportunity cost
•
apply opportunity cost to different
choices
Role play e.g. shipwreck, survival (Economics and Business Education
Association resource}
Anderton Unit 1
Bamford Chap 1
Analyse scarcity for individual, company and nation
Gillespie Pages 1 and 2
Apply opportunity cost to family e.g. holiday and government e.g. public
spending decisions
Stanlake Chap 1
Bized Learning materials Economics
Topic 1, Introductory micro-economics
Oheschools Unit 1 The problems of
health care
S-cool Scarcity and Opportunity Cost
Tutor2u Opportunity Cost
Tutor2u Scarcity
1c
Candidates should
•
understand the nature of the
production possibility curve
•
employ production possibility
curves to illustrate the basic
economic problem and
opportunity cost
•
interpret the production possibility
curve diagram
Introduce plotting graphs of ppcs
Anderton Unit 1
Examine alternative shapes of curves and significance of movements
Bamford Chap 1
Analyse effects of range of changes moving between and within curves
Gillespie Pages 2 and 3
Stanlake Chap 2
Bized Learning materials Economics
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Learning outcomes
Suggested Teaching activities
Learning resources
Topic 1, Introductory micro-economics
Oheschools Unit 1 The problems of
health care
Tutor2u Production Possibility Frontier
Tutor2u Shifts in the Production
Possibility Frontier
1i
Candidates should
•
understand the functions and
characteristics of money and its
importance for economic
progress
•
recognise the drawbacks of
barter
Role play exchange without money
Anderton Unit 82
Analyse suitability of selected items to serve as money highlighting
weaknesses
Bamford Chap 1
Gillespie Page 67
Stanlake Chap 7
Bized Learning materials Economics
Topic 8, Money
Tutor2u Money and its Functions
1h
Candidates should understand the
nature, benefits and limits of division of
labour
contrast the operation of division of
labour in different settings
pin factory, Ford model T and automated production case studies
student research on division of labour within a selected organisation with
report back
discussion of modern working conditions and motivation
Anderton Unit 2
Bamford Chap 1
Stanlake Chap 6
Bized Learning materials Economics
Topic 1, Introductory micro-economics;
Topic 3, Firms and virtual developing
country copper field trip
4a
Candidates should distinguish
between absolute and comparative
advantage
apply the principle to demonstrate the
benefits of division of labour
Apply to individual’s employment
Anderton Unit 14
Bamford Chap 4
Bized Learning materials Economics
Topic 11, International economics and
virtual developing country trade field trip
Tutor2u Theory of Comparative
Advantage
work numerical example
translate to production possibility curve approach
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Learning outcomes
Suggested Teaching activities
Learning resources
Tutor2u Comparative Advantage –
Worked Examples
2a/b
Candidates should understand the
nature of individual and market
demand curves
analyse the factors which influence
demand curves
distinguish between a shift in and
movement along a curve
collate student observation of demand/price relationship
survey factors underlying demand for specified products e.g. oil,
holidays, CDs, DVDs etc
graph demand schedules and their movements
Anderton Unit 4
Bamford Chap 2
Gillespie Pages 4, 5 and 6
Stanlake Chap 8
Bized Learning materials Economics
Topic 2, Markets
Oheschools Unit 2 The free market
approach
S-cool The Demand Curve
Tutor2u Theory of Demand
Candidates should understand the
nature of individual and market supply
curves
analyse the factors which influence
supply curves
show the effect of the introduction of
an indirect tax or subsidy
distinguish between a shift in and
movement along a curve
examine producer maximisation motivation
analyse changing supply conditions for different products
graph supply schedules and their movements
Anderton Unit 5
Bamford Chap 2
Gillespie Pages 10, 11 and 13
Stanlake Chap 10
Bized Learning materials Economics
Topic 2, Markets
Oheschools Unit 2 The free market
approach
S-cool The Supply Curve
Tutor2u Theory of Supply
1f
Candidates should appreciate the
need for ‘ceteris paribus’ in supply and
demand analysis
identify the elements left unchanged in
the application of the assumption
consider range of outcomes without assumption
Anderton Units 4 and 5
Bamford Chap 2
2i
Candidates should understand the
setting of an equilibrium price
use diagrams to represent changing
conditions
analyse the effects of changes in
variables
apply the analysis to different products
discuss operation of familiar market e.g. produce or shares
study price behaviour in a commodity market
plot changes to equilibrium
student analysis of given changes on equilibrium and interrelationships
between products with report back
determining the price of a house simulation (virtual learning arcade)
the interrelationship between markets simulation (virtual learning
Anderton Unit 6
Bamford Chap 2
Gillespie Pages 12 and 13
Stanlake Chaps 11 and 12
Bized Learning materials Economics
Topic 2, Markets; virtual learning
arcade; virtual developing country rural
c
d
2f
g
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2j
Learning outcomes
Suggested Teaching activities
Learning resources
and markets
recognise the relationships between
different products and services e.g.
joint demand and joint supply
arcade)
Candidates should understand the
concept of consumer surplus
illustrate consumer surplus
recognise consumer surplus in
diagrams
discuss consumer behaviour
examine the demand curve diagram
life field trip Oheschools Unit 2 The
free market approach
S-cool The Equilibrium Price
S-cool Real World Applications
Tutor2u Equilibrium Market Price
Anderton Unit 4
Bamford Chap 2
Gillespie Page 23
Stanlake Chap 8
Tutor2u Consumer Surplus
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