I was jotting down last night a checklist of diagrams that are fairly core to our own A2 economics courses (we take AQA) - partly in response to a student who suggested that AS diagrams might suffice in the exam! Here is my checklist for A2 macro and micro - but I am sure to have missed some out so please add suggestions in the comment box! I hope this might be useful for those taking their A2 modules in January 2011

A2 Micro (unit 3)

Flat rate and ad valorem taxes
Incidence of tax and impact on consumers and producers
Short run and long run cost curves
Law of diminishing returns and effect on costs
Economies and diseconomies of scale
Minimum efficient scale - different MES shown using LRAC curves
Profit maximisation and alternative objectives of the firm including revenue maximisation and normal profit
Perfect competition
Shut down and break-even in the short run
Showing economic efficiency e.g. productive and allocative efficiency
Natural monopoly LRAC
Monopoly price and profits in short run and long run
Price discrimination diagrams (1st degree, 2nd degree and 3rd degree etc)
Changes in variable costs and effect on price, output and profit for a business (extend analysis by changing the price elasticity of demand)
Changes in fixed costs and effect on output and profit
Welfare effects of monopoly including deadweight loss of welfare
Non-collusive oligopoly inc kinked demand curve diagram
Cartels - price fixing and impact on individual firms within the cartel
Market contestability diagram - showing range of possible price and output combinations
Externalities and market failure
Carbon tax diagram
Carbon trading diagram (e.g. EU ETS) - simple supply and demand analysis
Labour market diagrams – wage determination in a competitive labour market
Minimum wage
Monopsony in the labour market
Trade union intervention in the labour market
Trade union set against a monopsonistic employer - effects on wages and employment
Labour demand and supply - effects of higher productivity / fall in demand for final good or service

A2 Macro (Unit 4)

AD-AS analysis to show external demand and supply-side shocks to an economy
Inflationary and deflationary (output) gaps
Trade / business cycle diagrams
Crowding out / loanable funds markets
Phillips Curve (both SR and LR, expectations augmented etc
Natural rate of unemployment / changes in aggregate supply of and demand for labour
Laffer Curve
Gini Coefficient / Lorenz Curve for showing relative poverty / inequality
Comparative advantage and gains from trade (PPF diagrams and supply-demand analysis)
Protectionism and welfare diagrams e.g. tariffs / quotas / export subsidies
Trade creation arising from a customs union
Trade diversion arising from a customs union
Currency intervention to manage the exchange rate
J Curve effect following a depreciation/devaluation of the exchange rate
FDI and economic growth effects (e.g. shifting AD and LRAS effects)

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Teaching & learning products

AQA A2 Economics Worked Answers (2014)

Exemplar A Grade answers to the ECON3 and ECON4 exam papers sat in June 2014


AS Microeconomics Revision Guide

This 48-page, full-colour printed revision guide written by tutor2u's Geoff Riley is designed to support students preparing for their AS Economics exams on microeconomics.