This exam covers economics and quantitative methods. In economics, key microeconomics concepts of demand and supply, elasticity, productivity, market structures, and market failure are covered. It also covers macroeconomic concepts of income distribution and the structure of the financial economy including the calculation of key national economic measures. In quantitative methods, key tools of statistical analysis are covered, such as descriptive statistics, frequency distributions and probability, hypothesis testing, simple linear regression and correlation.
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Part 1: Economics
Part 2: Statistics
|Exam topic||Weighting %|
|Part 1: Economics|
|Understanding economic data||11%|
|Defining economics and the market||5%|
|Demand, supply and the price mechanism||12%|
|Cost, revenue and productivity||8%|
|Market failures, externalities and intervention||5%|
|National income accounting||10%|
|Part 2: Statistics|
|Frequency distributions and probability||8%|
|Simple linear regression and correlation||10%|
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