Products

About

©2018 mostacapital3.com


Economics Syllabus

Topics: Economics, Supply and demand, Inflation Pages: 279 (24108 words) Published: November 18, 2013
CARIBBEAN EXAMINATIONS COUNCIL
Caribbean Advanced Proficiency Examination

CAPE

®

ECONOMICS
SYLLABUS
Effective for examinations from May/June 2010

CXC A20/U2/09

Published by the Caribbean Examinations Council
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means electronic, photocopying, recording or otherwise without prior permission of the author or publisher.

Correspondence related to the syllabus should be addressed to: The Pro-Registrar
Caribbean Examinations Council
Caenwood Centre
37 Arnold Road, Kingston 5, Jamaica, W.I.
Telephone: (876) 630-5200
Facsimile Number: (876) 967- 4972
E-mail address: [email protected]
Website: www.cxc.org
Copyright © 2009 by Caribbean Examinations
Council The Garrison, St Michael BB14038, Barbados

CXC A20/U2/09

Contents
RATIONALE ........................................................................................................................................... 1 AIMS ........................................................................................................................................................ 2 SKILLS AND ABILITIES TO BE ASSESSED ...................................................................................... 2 PRE-REQUISITES OF THE SYLLABUS.............................................................................................. 3 STRUCTURE OF THE SYLLABUS ..................................................................................................... 3 UNIT 1:

MICROECONOMICS

MODULE 1: METHODOLOGY: DEMAND AND SUPPLY ......................................................... 4 MODULE 2: MARKET STRUCTURE, MARKET FAILURE AND INTERVENTION……. ........ 12 MODULE 3: DISTRIBUTION THEORY ........................................................................................ 17 UNIT 2:

MACROECONOMICS

MODULE 1: MODELS OF THE MACROECONOMY ........................................................... 22 MODULE 2: MACROECONOMIC PROBLEMS AND POLICIES ............................................... 28 MODULE 3: GROWTH, SUSTAINABLE DEVELOPMENT AND

GLOBAL RELATIONS………..……………………………………………………….…….……….36 OUTLINE OF ASSESSMENT .......................................................................................................... 44 REGULATIONS FOR PRIVATE CANDIDATES .............................................................................. 55 REGULATIONS FOR RESIT CANDIDATES .................................................................................... 56 ASSESSMENT GRID ............................................................................................................................. 57 RESOURCES .......................................................................................................................................... 58 GLOSSARY ............................................................................................................................................. 59

CXC A20/U2/09

This document CXC A20/U2/09 replaces CXC A20/U2/03 issued in 2003. Please note that the syllabus was revised and amendments are indicated by italics.

First Issued 2003
Revised 2009

Please check the website www.cxc.org for updates on CXC’s syllabuses.

CXC A20/U2/09

T

Introduction

T

he Caribbean Advanced Proficiency Examination (CAPE) is designed to provide certification of the academic, vocational and technical achievement of students in the Caribbean who, having completed a minimum of five years of secondary education, wish to further their studies. The examinations address the skills and knowledge acquired by students under a flexible and articulated system where subjects are organised in 1-Unit or 2-Unit courses with each Unit containing three Modules. Subjects examined under CAPE may be studied concurrently or singly.

The Caribbean Examinations Council offers three types of...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Economics Essay

    ...Tiuana Goodfella Essay 3 An American social entrepreneur, David Green, recently stated the following: “Let’s face it. The market economy is based on a fundamental deception: I (a company) know how much it costs to make something, and I’m going to fool you, the consumer, into paying as much as possible. I find this assertion false and misguided. While some markets are more desirable than others, no one is being fooled into paying as much as possible. In the following essay I will evaluate each of the four market types (monopoly, oligopoly, perfectly competition, and monopolistic competition) and discuss why I believe Mr. Green’s statement is incorrect. Markets are the heart and soul of a capitalist economy, and different degrees of competition lead to different market structures, with differing implications for the outcomes of the market place. Each of the above mentioned market structures describes a particular organization of a market in which certain key characteristics differ. The characteristics are: (a) number of firms in the market, (b) control over the price of the product, (c) type of product sold in the market, (d) barriers to new firms entering the market, and (e) existence of nonprice competition in the market. A perfectly competitive market is an idealized version of market structure. Three conditions are necessary before a market is considered perfectly competitive. These are: homogenous products, existence of many sellers and buyers, and perfect...

    Read More
    999 Words 2 Pages
  • Economics Sba Essay

    ...Introduction Title: An analysis into the involvement of adults in the financial sector. Purpose of Investigation The purposes of this research are: 1. To identify the association of adults with the formal sector of Tobago. 2. To determine the involvement of adults in the informal sector of Tobago. 3. To determine the factors affecting the involvement of adults in the financial sector. Methods of Investigations The primary source of information used in this project is: 1. Questionnaire. Thirty-one questionnaires were distributed to residents of Canaan. All the persons responding were eighteen and over. Limitations Faced Some limitations faced are: * Villagers misunderstanding some of the questions. * Villagers not taking the questionnaire seriously. * Locating responders to retrieve questionnaires was difficult since they were not known personally. Presentation of Data Factors Affecting Choice in Stock Market Frequency of Use of Stock Market Service Analysis and Interpretation of Data Description of Financial System in Trinidad and Tobago The financial system is a network of savers, investors and financial institutions that work together to ensure that savings are transferred to investors. The financial system consists of two sectors: formal and informal. The formal sector includes all the financial institutions that are regulated officially, such as, commercial banks, credit unions, central bank, stock...

    Read More
    1222 Words 5 Pages
  • Essay on Economics Introduction

    ...Explain how economic systems attempt to allocate and make effective use of resources. Because we live in a world where resources are scarce economic systems make use of market structures such as the perfectly competitive market model as a benchmarking tool in order to better understand consumer behaviour and recognise areas of their market structures that require improvement and how they could possibly achieve this in the most efficient and effective way. The theory of perfect competition is based upon five pre conditions namely: Homogenous product. All the firms within a industry sell the same product. Consumers have no reason to prefer one seller’s product to that of another seller. For example: Farmers selling peas on a weekend market. Absence of artificial constraints. Any new firm is free to enter the industry and start producing/offering services, just as existing firms are free to stop producing/ offering services and exiting the industry. No legal barriers fixing prices within the industry exist and existing firms also have no power to fix prices either. For example: The existing pea farmers could not prevent new farmers from planting peas and selling them in the market. Perfect knowledge. Customers have perfect knowledge regarding the products being sold and the prices being charged by all the firms in the industry. For example: Customers know that all the peas the farmers sell on the market are of the same kind, quality...

    Read More
    1875 Words 5 Pages
  • Managerial Economics Essay

    ...KEY CONCEPTS • managerial economics • theory of the firm • expected value maximization • value of the firm • present value • optimize • satisfice • business profit • normal rate of return • economic profit • profit margin • return on stockholders' equity • frictional profit theory • monopoly profit theory • innovation profit theory • compensatory profit theory Managers, Profits, and Markets Chapter 1 How Is Managerial Economics Useful? • Evaluating Choice Alternatives • Identify ways to efficiently achieve goals. • Specify pricing and production strategies. • Provide production and marketing rules to help maximize net profits. • Making the Best Decision • Managerial economics can be used to efficiently meet management objectives. • Managerial economics can be used to understand logic of company, consumer, and government decisions. Managerial Economics & Theory • Managerial economics applies microeconomic theory to business problems • How to use economic analysis to make decisions to achieve firm’s goal of profit maximization Theory of the Firm • Expected Value Maximization • Owner-managers maximize short-run profits. • Primary goal is long-term expected value maximization. • Constraints and the Theory of the Firm • Resource constraints. • Social constraints • Microeconomics • Study of behavior of individual...

    Read More
    865 Words 6 Pages
  • Economics Question Paper

    ...QUIZ 2 Post Graduate Programme in Management (Section ‘E’) 2009-10 Time 1 hour Instructions Total Marks 40 1. Exam is closed book 2. All questions in Part A and in Part B are compulsory 3. Each question in Part A carries 1 mark & each Question in Part B carries 10 marks 4. All Questions to be answered in the Question Booklet 1. In the diagram above, d and MR represent, respectively, the demand curve and the marginal revenue curve of an oligopolist. The kink in the demand curve means that the firm will a. match any price increase above P1, but will not match any price decrease below P1. b. not match any price increase above P1, but will match any price decrease below P1. c. match any price increase above P2, but will not match any price decrease below P2. d. not match any price increase above P2, but will match any price decrease below P3. e. match any price increase above P2, but will not match any price decrease below P3. ANS: B 2. In the diagram above, d and MR represent, respectively, the demand curve and the marginal revenue curve of an oligopolist. The firm producing Q units of output is earning profits...

    Read More
    1400 Words 6 Pages
  • Essay on Economic Market Structures

    ...consumers because it can drive up the prices of goods. Advertising can also be beneficial to consumers in that it can lead to a more informed purchasing decision by the consumer. Advertising can have a positive and negative effect on firms and consumers. A Monopoly firm can charge prices higher than the marginal cost. These firms differentiate their products to appeal to the consuming public. They try to obtain and keep that customer through product differentiation. Many consumers will pay a higher price for a product that is best related to their wants and tastes. A government patent gives that firm an exclusive right to a new product for 20 years from the date of invention. Firms with patents can charge higher prices and make an economic profit over this time. The government encourages patents as firms gain inspiration to do research and invent better products for consumers. This, in turn, increases the standard of living in general. Collusion is illegal in the United States and that is a good thing for consumers. Collusion “is an agreement among firms to charge the same price or otherwise not to compete” (Hubbard & O’Brien, 2010, p. 436). This strategy is beneficial for companies as they can eliminate competition and earn maximum profit for their product. However, it puts consumers at a disadvantage. Participating in collusion can lead to company fines and imprisonment of the management involved. If Microsoft and Sony agreed to charge...

    Read More
    950 Words 3 Pages
  • Essay about economics

    ...- 3 - N05/3/ECONO/HP1/ENG/TZ0/XX/M Paper Specific Markscheme In addition to the assessment criteria use the paper-specific markscheme below. Award up to the maximum marks as indicated. Examiners should be aware that candidates may take a different approach, which if appropriate should be fully rewarded. 1. (a) Explain the differences between monopolistic competition and oligopoly as market structures. [10 marks] • large number of firms (m.c) versus a few dominant firms (oligopoly) • differentiated product (m.c) versus differentiated or standardized (oligopoly) • low barriers to entry (m.c) versus high barriers to entry (oligopoly) • interdependence of firms in oligopoly • comparison of the demand curves Examiners should be aware that candidates may take a different approach, which if appropriate should be rewarded. (b) Discuss the differences between a collusive and a non-collusive oligopoly. [15 marks] Collusive Oligopoly • formal (cartel) or informal agreement (tacit collusion) among producers to limit competition between themselves • they act as if they were a monopoly • discussion of the consequences of the firms acting as a monopoly • impact on consumers • members may compete against each other using non-price competition • regulations to prevent collusion Non-Collusive Oligopoly • no agreement exists between producers • existence of non-price competition with the possibility of price wars • the kinked demand curve as one model to...

    Read More
    485 Words 3 Pages
  • Curriculum And Syllabus Research Paper

    ...Curriculum and syllabus In the existing literature on language education, the term curriculum and syllabus are sometimes used interchangeably, sometimes differentiated, sometimes misused and misunderstood. According to Nunan, a curriculum is concerned with making general statements about language learning, learning purpose, and experience, and the relationship between teachers and learners, whereas a syllabus is more localized and is based on the accounts and records of what actually happens at the classroom level as teachers and students apply a curriculum to their situation. In addition, a syllabus is the specification of the content of a course of instruction. It lists what will be taught and tested. It is an aspect of curriculum development. It has a list of topics, books, etc. that students should study in a particular subject at school or colleges. The process of developing a syllabus is called syllabus design. Curriculum is a combination of subjects that are included in the course of study or taught in the school, college, etc. Under the curriculum, there are different syllabuses. Curriculum development is more comprehensive process than syllabus design. A syllabus is a specification of what takes place in the classroom, which usually contains the aims and contents of teaching and sometimes contains suggestions of methodology. However, a...

    Read More
    456 Words 3 Pages

Popular Essays

Become a StudyMode Member

Sign Up - It's Free