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Economics

A-Level Economics (OCR Specification)

The following notes on economics have been created in accordance to the British A-Level system for taking into consideration the OCR specification. The notes cover both Year 1 (AS Level) as well as Year 2 (A-Level) content including both microeconomics and macroeconomics. 
The notes cover the following topics: 
 
Microeconomics:
Part 1 – How Competitive Markets Work
  • Chapter 1 – The Economic Problem and Opportunity Cost
  • Chapter 2 – The Allocation of Resources, Specialisation and Trade
Part 2 – The Role of Markets
  • Chapter 3 – Demand
  • Chapter 4 – Supply
  • Chapter 5 – Elasticity
  • Chapter 7 – Price, resource Allocation and The Concept of Margin
  • Chapter 8 – Market Failure and Externalities
  • Chapter 9 – Market Failure: Information Failure and Public Goods
  • Chapter 10 – Government Intervention and Government Failure
Part 3 – Business Objectives
  • Chapter 11 – Costs, Economies of Scale, Revenue and Profit
  • Chapter 12 – Objectives of Business
Part 4 – Market Structures
  • Chapter 13 – Market Structure: Perfect Competition
  • Chapter 14 – Market Structure: Monopoly
  • Chapter 15 – Monopolistic Competition, Oligopoly and Contestable Markets
Part 5 – The Labour Market
  • Chapter 16 – The Demand of Labour
  • Chapter 17 – The Supply of Labour
  • Chapter 18 – The Interaction of Labour Markets
 
Macroeconomics:
Part 6 - Aggregate Demand and Aggregate Supply
  • Chapter 19 – The Circular Flow of Income and Aggregate Demand
  • Chapter 20 – Aggregate Supply and the Interaction of Aggregate Demand and Supply
  • Chapter 21 – The Multiplier and The Accelerator
    • The Multiplier Effect​
    • The Accelerator
    • The Output Gap
Part 7 – Economic Policy Objectives
  • Chapter 22 – Economic Growth
  • Chapter 23 – Development
  • Chapter 24 – Employment
  • Chapter 25 – Inflation
  • Chapter 26 – The Balance of Payments
  • Chapter 27 – Exchange Rates
  • Chapter 28 – Trends in Macroeconomic Indicators
  • Chapter 29 – Income Distribution and Welfare
Part 8 – Implementing Policy
  • Chapter 30 – Fiscal Policy
  • Chapter 31 – Monetary Policy
  • Chapter 32 – Supply-Side Policy
  • Chapter 33 – The Philips Curve and Negotiations
Part 9 – The Global Context
  • Chapter 37 – Money and Interest Rates
  • Chapter 38 – The Financial Sector
  • Chapter 39 – The Central Bank and Financial Regulation
A PDF copy of the checklist and OCR Specification can be found below.

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OCR A-Level Micro and Macro Content Checklist

The OCR A-Level Economics Content Checklist covering both microeconomics and macroeconomics similar to the one seen above.

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OCR A-Level Economics Specification

This is the official specification provided by OCR on what should be covered in preparation for the A-Level exam. All of the content for the economic notes covered on this website are tailored for this specification.

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