Analytical skills and how the rate of inflation can be Types of inflation: understanding of measured the Consumer Price activity discussing the inflation. Index (CPI) nature of cost push and how to perform simple calculations demand pull inflation. Real world application using CPI figures of economic theory. Inflation and government the causes of inflation, including policy: a introduction to cost-push and demand-pull inflation how inflation can be the consequences of inflation to controlled using different groups within the government policy. economy. Real world examples: students to conduct research to find cases of inflation or hyperinflation, or historical data on the rates of inflation in the UK in recent years. Balance of Trade: an introduction to Subject specific Students will be able to understand: payments trade possibly looking at terminology. how to perform simple calculations the UK’s major export and using current account balance of import partners and the payments figures value of trade with other the meaning and significance of a countries. balance of payments deficit and The balance of payments: surplus on the current account students to develop an the reasons for a balance of understanding of the trade payments deficit or surplus on the in goods and services and current account. understand the importance of the current account in terms of a deficit or surplus.
Analytical skills and understanding of inflation. Real world application of economic theory. how the rate of inflation can be measured the Consumer Price Index (CPI) how to perform simple calculations using CPI figures the causes of inflation, including cost-push and demand-pull inflation the consequences of inflation to different groups within the economy. Types of inflation: activity discussing the nature of cost push and demand pull inflation. Inflation and government policy: a introduction to how inflation can be controlled using government policy. Real world examples: students to conduct research to find cases of inflation or hyperinflation, or historical data on the rates of inflation in the UK in recent years. Balance of payments Subject specific terminology. Students will be able to understand: how to perform simple calculations using current account balance of payments figures the meaning and significance of a balance of payments deficit and surplus on the current account the reasons for a balance of payments deficit or surplus on the current account. Trade: an introduction to trade possibly looking at the UK’s major export and import partners and the value of trade with other countries. The balance of payments: students to develop an understanding of the trade in goods and services and understand the importance of the current account in terms of a deficit or surplus.