Edexcel A-Level Economics Paper 3 Checklist

Microeconomic effects

1. costs and revenue
2. externalities
3. labour demand or labour supply
4. occupational and geographical mobility of labour

Macroeconomic effects

1. AD/SRAS/LRAS
2. Tariffs/removing tariffs
3. Development

Microeconomic policies

Market failure

1. indirect taxes
2. subsidies
3. maximum prices
4. minimum prices
5. pollution permits

Market structures

1. tax breaks for small businesses
2. subsidies for small businesses
3. deregulation to help small businesses
4. price controls
5. performance targets and quality standards

Labour markets

1. minimum wage
2. training schemes to reduce occupational immobility of labour
3. transport links to reduce geographical immobility of labour

Macroeconomic policies

Reduce inflation

1. Contractionary monetary policy
2. Contractionary fiscal policy
3. Supply-side policies

Increase economic growth/ reduce unemployment

1. Expansionary monetary policy or quantitative easing
2. Expansionary fiscal policy
3. Supply-side policies

Reduce national debt

1. Cut spending
2. Increase taxes

Reduce current account deficit

1. supply-side policies
2. currency devaluation
3. protectionism

Reduce inequality

1. make income taxes more progressive
2. education and training

Increase development

1. promote FDI
2. protectionism

A-Level Economics Tutoring

I offer one-to-one and small group A-Level Economics tutoring for students across the UK and internationally. With 87+ five-star Google reviews and tutoring experience since 2017, I specialise in helping students understand difficult concepts and improve their exam technique.