ACCA Economics: Paper 1.3

Part 1: ACCA syllabus; study guide and syllabus commentary. Part 2 The study section: economic systems; the market mechanism; demand and consumer theory; supply and cost theory; elasticity; perfect competition and monopoly; imperfect competition; market failure; distribution theory and wage determination; the growth of modern macro-economics; consumption and saving; national income and expenditure; the multiplier; investment; taxation, government spending and fiscal policy; money and the banking system; monetary policy; unemployment and inflation; Keynesian and monetarist instruments and objectives; trade; the balance of payments; exchange rates. Part 3 The revision section: examination technique; examiner's report; revision summaries by topic; questions with step by step answers; examination practice. ACCA question analysis.