Revision notes.

Try this with Economics

1. Close your notes and write the main idea in two sentences from memory.
2. Reopen the source and correct the first mistake or omission you find.
3. Add one example and one question to test whether you can apply the idea.

View Economics resources on ATARMAXXING ↗

Topics in the resource inventory

• Scarcity, opportunity cost and the production possibility curve
• Command terms, consequences and evidence-based recommendations
• Mean, median, quantiles and variance in economic data
• Correlation, causation and interpreting R and R-squared
• Demand, supply and the price mechanism in linked markets
• Price elasticity of demand and supply and the total revenue method
• Market structures and how they meet consumer and producer needs
• Duopoly, game theory, Nash equilibrium and collusion
• Consumer surplus, producer surplus and deadweight loss
• Price ceilings and price floors
• Indirect taxes and producer subsidies
• Externalities, public goods, asymmetric information and market power
• Full employment: unemployment rate, participation and NAIRU
• Price stability: CPI, cost-push and demand-pull inflation
• Economic growth, real GDP and living standards
• The business cycle and leading, lagging and coincident indicators
• Five-sector circular flow, the multiplier and the mpc
• The Monetarist AD-AS model in the short and long run
• Fiscal and monetary policy: transmission, lags and conflicts
• Supply-side policy and floating exchange rates