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This coursebook will help your students build an understanding of key economics concepts, with engaging imagery and real-life examples to ensure topics are accessible for all students. Engage your students with a variety of activities to encourage active learning, from writing a podcast script to conducting research as a group. Students will explore the importance of economics in society, through topics such as the basic economic problem, price elasticity and globalisation. Access videos in the digital version of the coursebook, to provide additional support for students with English as an additional language.
How to use this book; Introduction; Section 1. The basic economic problem; Chapter 1. The nature of the economic problem; Chapter 2. Factors of production; Chapter 3. Opportunity cost; Chapter 4. Production possibility curve diagrams; End of section 1 practice questions; Section 2. The allocation of resources; Chapter 5. The role of markets in allocating resources; Chapter 6. Demand; Chapter 7. Supply; Chapter 8. Price determination; Chapter 9. Price changes; Chapter 10 Price elasticity of demand (PED); Chapter 11. Price elasticity of supply (PES); Chapter 12. Market economic system; Chapter 13. Market failure; Chapter 14. Mixed economic system; End of section 1 practice questions; Section 2. Section 3. Microeconomic decision makers; Chapter 15. Money and banking; Chapter 16. Households; Chapter 17. Workers; Chapter 18. Firms; Chapter 19. Firms and production; Chapter 20. Firms' costs, revenue and objectives; Chapter 21. Types of markets; End of Section 3 practice question; Section 4. Government and the macroeconomy; Chapter 22. Government macroeconomic intervention; Chapter 23. Fiscal policy; Chapter 24. Monetary policy; Chapter 25. Supply-side policy; Chapter 26. Economic growth; Chapter 27. Employment and unemployment; Chapter 28. Inflation and deflation; End of section 5 practice questions; Section 5. Economic development; Chapter 29. Living standards; Chapter 30. Poverty; Chapter 31. Population; Chapter 32. Differences in economic development between countries; End of section 5 practice questions; Section 6. International trade and globalisation; Chapter 33. Specialisation and free trade; Chapter 34. Globalisation and trade restrictions; Chapter 35. Foreign exchange rates; Chapter 39. Current account balance of payments; End of section 6 practice questions.
