Year 11 Economics Notes

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THESE NOTES ARE IN ORDER OF THE CONTENT COVERED, WITH INITIAL CONTENT AT THE TOP, AND FINAL CONTENT AT THE BOTTOM!

discontinued, almost everything covered is here

Unit 1: Microeconomics

Year 11 Content

In Year 11, you’ll focus mainly on Microeconomics, and you’ll do Macroeconomics in Year 12

Introduction to Economics

The Theory of Demand

The Theory of Supply

Market Equilibrium and Price Determination

Price Elasticity of Demand

Price Elasticity of Supply

Market Efficiency

Taxes and Subsidies - Application of Demand and Supply

Price Controls - Application of Demand and Supply

Market Failure - Free and Public Goods

Market Failure - Externalities

Market Failure - Policies

Year 11 Economics Investigation 1 2023

Market Failure - Market Power

Unit 2: Macroeconomics

The Circular Flow of Income

Aggregate Expenditure

Economic Growth

Inflation

Unemployment

The Business Cycle

Year 11 Economics Investigation 2 2023

Income Distribution

The Government in the Macroeconomy

Taxation

Objectives of the Government

Santi’s Notes