This textbook has been produced in collaboration with OCR for use with the new 2015 OCR Economics specification, giving you up-to-date material that supports your teaching. This book will enable students to - Develop subject knowledge, with topic-by-topic insight and advice from Peter Smith, a professorial fellow in Economics and editor of Economic Review - Demonstrate awareness of current issues in economics and build analytical and evaluative skills with new case studies - Build their quantitative skills with worked examples - Accurately explain key economic concepts and issues by learning the key terms throughout the text and in the end of section glossaries - Prepare for exams with practice questions and activities throughout the book Contents Introduction Section 1 - Microeconomics - Part 1 Scarcity and choice -Chapter 1 Introducing economics - Part 2 How competitive markets work -Chapter 2 The coordination problem -Chapter 3 The nature of demand -Chapter 4 The nature of supply -Chapter 5 Market equilibrium and the price system -Chapter 6 Prices and resource allocation -Part 3 Market failure and government intervention -Chapter 7 Market failure and externalities -Chapter 8 Other forms of market failure -Chapter 9 Government intervention and government failure Microeconomics key terms Microeconomics practice questions Section 2 - Macroeconomics - Part 4 Economic policy objectives and indicators of macroeconomic performance -Chapter 10 Macroeconomic performance inflation -Chapter 11 Macroeconomic performance employment and unemployment -Chapter 12 Measuring economic performance economic growth - Part 5 Aggregate demand and aggregate supply -Chapter 13 Aggregate demand -Chapter 14 Aggregate supply and macroeconomic equilibrium - Part 6 The application of policy instruments -Chapter 15 Macroeconomic policy instruments - Part 7 The global context -Chapter 16 International trade -Chapter 17 The balance of payments and the exchange rate Macroeconomics key terms Macroeconomics practice questions Index
