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

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 structures  7%
 Market failures, externalities and intervention  5%
 National income accounting  10%
 Macroeconomic concepts  5%
 Macroeconomic policy 5%
 Government regulations  4%
 Part 2: Statistics  
 Frequency distributions and probability  8%
 Hypothesis testing   10%
 Simple linear regression and correlation  10%
 Total  100%