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