A2 Monopolistic Competition

Using Tutor2U's excellent resource try to create am 8/16 mark exam question:

http://www.tutor2u.net/economics/reference/monopolistic-competition

Price Elasticity of Demand (PED)

Remember to consider the impact of changes in price on revenue.

Useful PAJ video here:

https://www.youtube.com/watch?v=hJIaiItHrpY

Additional Tutor2u video link here:

http://www.tutor2u.net/economics/reference/price-elasticity-of-demand

Derived demand and joint demand

Often overlooked - you need to be aware of derived demand and joint demand as factors that influence demand. Paj has a good video on this:

https://www.youtube.com/watch?v=KlnVTlRx4xA

Surpluses and Shortages

Surpluses and shortages are not in your November mock but will help you better understand why the equilibrium price is when supply equals demand, see short video on this tpic here:

https://www.youtube.com/watch?v=A59mPHj1rZI

Monetary Policy on pause.

The Financial Times today has 7 pages devoted to Mark Carney's announcement that interest rates are unlikely to be used for a while and that other monetary measures are now needed.

The following fro Tutor2u is an excellent summary of why inflation is likely to remain low:

http://beta.tutor2u.net/economics/blog/waiting-for-a-rate-move-uk-macro-analysis

What is Quantitative Easing:

http://www.bankofengland.co.uk/monetarypolicy/pages/qe/default.aspx


Crowding out and the loanable funds theory

https://www.youtube.com/watch?v=hucfTz4sPfU

A2 - using Anderton

If you can speak it you can write it.
If you take the time to read it you can speak it.

Learning Economics is like learning a new language.

From your senior examiners across to the British Council helping students with English as an Additional Language - all agree that Anderton is they key textbook for A Level Economics.

Use the model study notes as a template to help you make effective use of Anderton and grow in confidence.

Edexcel chapters
6EC03 - Ch38-56 and 64-65
6EC04 - Ch76-103

A2: one view on how the economy works

Useful video here that will help provide some insights into monetarism and economic cycles:

"How does the economy really work?

This simple but not simplistic video by Ray Dalio, Founder of Bridgewater Associates, shows the basic driving forces behind the economy, and explains why economic cycles occur by breaking down concepts such as credit, interest rates, leveraging and deleveraging."

 http://www.economicprinciples.org/