Read e-book online The Teaching of Economics in Schools PDF

By Royal Economic Society

ISBN-10: 0333149106

ISBN-13: 9780333149102

ISBN-10: 1349019194

ISBN-13: 9781349019199

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It will not require mathematical analysis or special facility in computation.

II. ; their effects upon the best use of economic resources; the effects, good and bad, of speculation in markets. (2) Institutions created by the Government to provide common services: public utility services; roads and transport facilities; local authority services; health, education and other social services; the financing of and methods of paying for such services and the relation of such services to the economy. (3) Institutions which have the purpose of modifying the workings of a market economy: trade unions; employers' federations; private monopolies; their possible effects, good or bad, upon the best use of economic resources and the distribution of incomes.

I. THE PRINCIPLES UPON WHICH WORKS A MODERN ECONOMY In this field the purpose will be to test the candidate's understanding of simplified but rigorous models of a modern economy designed to demonstrate such major principles and aspects of economic study as: (1) the logic of choice in terms of opportunity cost and the marginal principle; (2) the logic of specialisation and trade in terms of comparative advantage; (3) the partial analysis of supply and demand in a single market; (4) the determination of the rewards of factors of prod uction; (5) the general analysis of aggregate national income, expenditure and activity.

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