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Pearson Edexcel · International A-Level · Economics

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Edexcel International A-Level Economics (XEC11/YEC11) begins with markets and market failure, then studies economic performance and policy. Later units develop business behaviour and the global economy. Demand and supply, incentives and opportunity cost help explain choices; aggregate models connect spending, output, employment and prices.

An economic model gives a conditional explanation. State what changes, trace the effect on consumers, firms or governments, and identify what must stay constant. Evaluation then considers how the result depends on the evidence, the time period and the assumptions. A balanced answer ends with a supported judgement about the case in the question.

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  • 1

    Choice, models and market adjustment

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    • 1.1 Choice, models and market adjustment
    • 1.1 Introductory concepts
    • 1.2 Consumer behaviour and demand
    • 1.2 Elasticities of demand
    • 1.3 Supply
    • 1.4 Price determination, surplus and the price mechanism
    • 1.4 Indirect taxes and subsidies
    • 1.4 Checklist
  • 2

    Market failure and government intervention

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    • 2.1 Market failure and government intervention
    • 2.1 Sources of market failure
    • 2.1 Externalities
    • 2.1 Public goods, information gaps, moral hazard and bubbles
    • 2.2 Government intervention: purpose and methods
    • 2.2 Government failure
    • 2.1 2.2 Data-response practice (Section B style)
    • 2.1 2.2 Checklist
  • 3

    Output measures, spending and the multiplier

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    • 3.1 Output measures, spending and the multiplier
    • 3.1 Measures of economic performance
    • 3.2 Aggregate demand
    • 3.2 Aggregate supply
    • 3.3 National income and the multiplier
    • 3.4 Economic growth
    • 3.1 Data-response practice (Section B style)
    • 3.1 Checklist
  • 4

    Inflation, unemployment and policy judgement

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    • 4.1 Inflation, unemployment and policy judgement
    • 4.1 Macroeconomic objectives
    • 4.1 Conflicts between objectives
    • 4.2 Supply-side policies
    • 4.2 Demand-side policies and the central bank
    • 4.2 Data-response practice (Section B style)
    • 4.2 Checklist
  • 5

    Firms, costs, growth and competition

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    • 5.1 Firms, costs, growth and competition
    • 5.1 Types, sizes and growth of businesses
    • 5.1 Business objectives
    • 5.1 Revenue, costs and profits
    • 5.1 Economies and diseconomies of scale
    • 5.2 Efficiency and concentration
    • 5.2 Market structures: competition to monopoly
    • 5.2 Monopsony and contestability
    • 5.1 5.2 Data-response practice (Section B style)
    • 5.1 5.2 Checklist
  • 6

    Labour markets and government intervention

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    • 6.1 Labour markets and government intervention
    • 6.1 The demand for and supply of labour
    • 6.1 Wage determination and labour market failure
    • 6.2 Government intervention in product markets
    • 6.2 Government intervention in labour markets
    • 6.1 6.2 Data-response practice (Section B style)
    • 6.1 6.2 Checklist
  • 7

    Globalisation, trade and international finance

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    • 7.1 Globalisation, trade and international finance
    • 7.1 Globalisation
    • 7.1 Specialisation and comparative advantage
    • 7.1 Terms of trade, trading blocs and protectionism
    • 7.2 Balance of payments and exchange rates
    • 7.2 International competitiveness
    • 7.2 Data-response practice (Section B style)
    • 7.2 Checklist
  • 8

    Poverty, the state and development

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    • 8.1 Poverty, the state and development
    • 8.1 Poverty
    • 8.1 Inequality
    • 8.1 Public expenditure, taxation and borrowing
    • 8.1 Macroeconomic policies and the state
    • 8.2 Growth and development
    • 8.2 Data-response practice (Section B style)
    • 8.2 Checklist

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