Economics and Markets
Content Summary
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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Topics
Part 1: Economics
Topics
Part 2: Statistics
Topic weighting
Module | Exam topic | Weighting % |
---|---|---|
Part 1: Economics | ||
1 | Understanding economic data | 11% |
2 | Defining economics and the market | 5% |
3 | Demand, supply and the price mechanism | 12% |
4 | Cost, revenue and productivity | 8% |
5 | Market structures | 7% |
6 | Market failures, externalities and intervention | 5% |
7 | National income accounting | 10% |
8 | Macroeconomic concepts | 5% |
9 | Macroeconomic policy | 5% |
10 | Government regulations | 4% |
Part 2: Statistics | ||
11 | Frequency distributions and probability | 8% |
12 | Hypothesis testing | 10% |
13 | Simple linear regression and correlation | 10% |
Total | 100% |
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