AS 91401: Demonstrate understanding of micro-economic concepts (internal 3.3)
1. Marginal utility and demand
2. Elasticity of demand (also part of 3.1)
3. Elasticity of supply (also part of 3.1)
4. Diminishing returns and supply (also part of 3.2)
5. Role of prices (i) market equilibrium (also part of 3.1)
6. Role of prices (ii) and profits (also part of 3.1)
AS 91399: Demonstrate understanding of efficiency of market equilibrium (external 3.1)
7. Consumer surplus/producer surplus
8. Allocative efficiency
9. Sales tax and AE
10. Subsidy and AE
11. Maximum price and AE
12. Minimum price and AE
13. Free trade and AE
14. Protectionism and AE
15. Revision/study tasks and activities
AS 91400: Demonstrate understanding of efficiency of different market structures using marginal analysis (external 3.2)
16. Costs – basic concepts
17. Costs – shape of the curves
18. Revenue curves – perfect competition
19. Profit
20. Marginal analysis – perfect competition
21. Revenue curves – monopoly
22. Marginal analysis – monopoly
23. Firms and price
24. Natural monopoly
25. The long run position
26. Revision/study tasks and activities