Economics

Economics Syllabus

Economics Past Papers

Nature of Economics

•         Economics Defined
•         An Economy
•         Scarcity and Choice
•         Opportunity Cost and Monetary Cost

Production, Economic Resources and Resource Allocation

•         Production
•         Factors of Production
•         Costs
•         Short Run and Long Run
•         Economic Systems
•         Economies of Scale

Markets and Prices

•         Market Systems
•         Demand and Supply
•         Demand Curve
•         Supply Curve
•         Shifts in the Demand Curve
•         Shifts in the Supply Curve
•         Market Equilibrium
•         Elasticity

The Financial Sector

•         Definition and Functions of the Financial Sector
•         Money and Money Supply
•         Central Bank
•         Financial Institutions
•         Bonds and Securities

Economic Management – Policies and Goals

•         Terms used in Economic Policies and Goals
•         Circular Flow of Income
•         Nominal and Real Output
•         Inflation
•         Recession
•         Trade Unions

International Trade

•         Terms used in International Trade
•         Comparative Advantage
•         Terms of Trade
•         Exchange Rates

  Caribbean Economies in a Global Environment

•         Caribbean Economies
•         Definition of Terms and Concepts
•         Preferential Tariff and Trade Liberalization
•         E-Commerce