Title Economics
Subtitle Cambridge International AS and A Level (With CD)
Author Peter Smith
ISBN 9781444181364
List price Rs 2895.00
Price outside India Available on Request
Original price
Binding Paperback
No of pages 296
Book size 210 x 274 mm
Publishing year 2014
Original publisher Hodder Education
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
About the book

Written for Cambridge International Examination AS and A Level Economics (9708), this book covers the entire syllabus and is divided into separate sections for AS and A Level. The Student’s CD includes interactive tests, selected answers, revision checklists and a glossary.

  • Endorsed by Cambrige International Examinations for syllabus 9708
  • Closely follows the syllabus
  • AS and A Level content is clearly differentiated
  • Written by an experienced author and examiner
  • Past paper questions from Cambridge examinations at the end of every section
  • Includes a free Student’s CD which focuses on revision and practice




AS Level

Part 1: Basic economic ideas and resource allocation

Chapter 1: Introducing economics • The economic problem • The production possibility curve • Some key economic ideas • Types of goods and services

Part 2: The price system and the microeconomy

Chapter 2: The nature of demand • The demand curve • The determinants of demand

Chapter 3: The nature of supply • The supply curve • The determinants of supply

Chapter 4: Market equilibrium and the price system • Market equilibrium • Examples of markets • Comparative statics • Elasticity: the sensitivity of demand and supply

Chapter 5: Prices and resource allocation • The role of prices in allocating resources • Prices and consumers • Prices and producers

Part 3: Government microeconomic intervention

Chapter 6: The government in the microeconomy • Minimum and maximum prices • Indirect taxes and subsidies • Government intervention to redistribute income • Direct provision of goods and services by government

Part 4: The macroeconomy

Chapter 7: Aggregate demand, aggregate supply and macroeconomic equilibrium • Aggregate demand • Aggregate supply • Macroeconomic equilibrium

Chapter 8: Macroeconomic performance and inflation • Macroeconomic performance • Measuring the price level • The experience of inflation • Causes of inflation • Consequences of inflation

Chapter 9: The balance of payments and the exchange rate • The balance of payments • The exchange rate and international competitiveness • The determination of exchange rates • Balance of payments problems

Chapter 10: Trade and specialisation • The importance of international trade • Trade liberalisation or protectionism? • Economic integration

Part 5: Government macroeconomic intervention

Chapter 11: Macroeconomic policies • Targets of macroeconomic policy • Instruments of macroeconomic policy • Inflation • Inflation and the balance of payments

A Level

Part 1: Basic economic ideas and resource allocation

Chapter 12: Economic efficiency and market failure • Resource allocation and efficiency • The working of a market economy

Chapter 13: Externalities and cost–benefit analysis • Market failure • What is an externality? • Examples of externalities • Social cost–
benefit analysis

Part 2: The price system and the microeconomy

Chapter 14: Marginal utility and consumer choice • Marginal utility theory • Marginal utility and demand

Chapter 15: Firms and how they operate • The nature of firms • Costs and revenue for firms • Profit maximization

Chapter 16: Perfect competition and monopoly • Market structure • Perfect competition • Monopoly

Chapter 17: Monopolistic competition and oligopoly • Monopolistic competition • Oligopoly • Market concentration

Chapter 18: The objectives of firms and their pricing strategies • The growth of firms • Alternative motivations of firms • Perfect competition and monopoly compared • Pricing strategies and contestable markets

Part 3: Government microeconomic intervention

Chapter 19: Market imperfections and microeconomic policy • Market failure • Imperfect competition • Natural monopoly and privatisation • Inequality in income and wealth • The effectiveness of government intervention

Chapter 20: The labour market • Demand for labour • Elasticity of the demand for labour • Labour supply • Labour market equilibrium • Labour markets • Education and the labour market • Market failure in labour markets • Trade unions

Part 4: The macroeconomy

Chapter 21: National income and economic growth • Measuring national income • The government budget • The nature of economic growth • GNI and growth • The importance of economic growth

Chapter 22: Economic and human development • Defining development • Which are the less developed countries? • Indicators of development • Characteristics of less developed countries • The structure of economic activity in LDCs • The diversity of less developed countries

Chapter 23: Modelling the economy • Monetarist and Keynesian approaches to the macroeconomy • A Keynesian approach to macroeconomic equilibrium • The multiplier and accelerator effects

Chapter 24: Money and the economy • Money in the modern economy • Money and inflation

Chapter 25: Policies to promote development • Problems facing less developed countries • The Harrod–Domar model • Institutions and development • The role of external resources in development • Foreign direct investment • Overseas assistance

Part 5: Government macroeconomic intervention

Chapter 26: Macroeconomic performance • Unemployment • Interrelated macroeconomic problems

Chapter 27: Designing macroeconomic policy • Objectives of macroeconomic policy • Fiscal policy • Fiscal policy and the AD/AS model • Monetary policy • Exchange rate policy • Supply-side policy • Conflicts between policy objectives



Student’s CD contents • Interactive tests • Glossary • Chapter summaries • Answers to exercises • Revision checklist and resource assessment


Target Audience:
This book is ideal for students studying both the AS and the A Level and also those taking the AS examinations at the end of their first year.


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