Revision Note: AQA Economics Unit 4

Here are some of the key topics I would revise for the national and international economy paper on Friday

1. Shifting FDI in the world economy
2. The impact of China and other BRIC nations / emerging markets on the British economy (demand and supply-side effects)
3. EU enlargement issues
4. Problems and prospects for the Euro
5. Demand and supply-side shocks and possible policy responses
6. Causes, costs and benefits of economic growth (see point 2 above)
7. Phillips Curve and inflation and unemployment in the UK and other economies
8. Fiscal policy - direct v indirect taxes, budget deficits, govt spending and the recession
9. Fixed versus floating exchange rates - link to point 3 above
10. The rise of protectionism
11. UK balance of payments and trade policies
12. Monetary policy and the financial crisis in the UK and other countries

Key to doing well on this paper is to

1/ Show a good understanding of A2 macro concepts
2/ Use lots of supporting evidence from yourself and the stimulus material
3/ Make use of appropriate AD-AS analysis when you can
4/ Always adopt an evaluative approach e.g. WEESTEPS

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