OCR AS Economics - The National and International Economy Tick Sheet

I used the specification to produce a tick sheet for Unit 2 - The National and International Economy, so when you're revising you know what you have to revise or not, if you feel like I've missed anything out, just shout! I hope this helps :-)! good luck revising!***

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  • Created on: 10-02-13 14:32
Preview of OCR AS Economics - The National and International Economy Tick Sheet

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The National and International Economy
Aggregate Demand and Aggregate supply and the determinants
Define aggregate demand, describe the components of aggregate demand and explain
what determines each of them
Recognise that aggregate demand and the price level are related
Explain why the aggregate demand curve may shift
Define aggregate supply and explain why the aggregate supply curve may shift
Define what is meant by equilibrium in the macro-economy, explain how it is determined
and why it may change
Understand what is meant by circular flow of income
Show a general awareness of the multiplier effect and the concepts of leakages and
Discuss how changes in aggregate demand and aggregate supply may affect output,
unemployment and inflation
Government economic policy objectives and indicators of national economic
Define: economic growth, unemployment, inflation, the balance of payments, income
redistribution and economic stability
Show an awareness of trends in: economic growth, unemployment, inflation and the
current account of the balance of payments
Understand the objectives of government economic policy in terms of: economic
growth, employment/unemployment, inflation, balance of payments, economic stability
and income distribution
Define GDP and real GDP
Explain how economic growth, unemployment and inflation are measured in the UK
Discuss the difficulties of their measurement
Outline the structure of the current account of the balance of payments accounts of the
UK economy
Explain the causes of: economic growth, unemployment, inflation, and a deficit or surplus
on the current account of the balance of payments
Discuss the consequences of: unemployment, inflation, and a deficit or surplus on the
current account of the balance of payments
Discuss the costs, benefits and sustainability of economic growth
Outline how exchange rates are determined by the demand and supply of currencies
Recognise that a fall in the exchange rate will lower export prices and raise import prices
and aggregate demand (and vice versa)
Explain how changes in the exchange rate may affect the macro-economy
The application of macroeconomic policy instruments and the international
Define policies: fiscal, monetary and supply side
Discuss, using the AD and AS model, the ways in which fiscal, monetary and supply side
policies can affect: unemployment, inflation, economic growth, the current account
position of the balance of payments;
Discuss how effective fiscal, monetary and supply-side policies are in achieving the
government's macroeconomic objectives
Discuss the reasons for, and consequences of possible conflicts between policy
Show an awareness of the changes in the UK's pattern of international trade since 2000

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The National and International Economy
Explain advantages that may be gained from international trade
Explain tariff and non tariff methods of protection…read more


Max Bevan



This is a one page checklist of what needs to be known on the macroeconomic objectives, aggregate demand and supply and policy measures. Even if it is not relevant for your board it is a good example of the kind of checklist you could create yourself from the exam specification. 


Omg this is amazing, do you have a checklist for Microecomics - Markets in Action?

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