A-Level Economics Content Series - Introduction to Economics & Production Possibility Curve (H1/H2)
In this course, we will be going covering an introduction to economics. We will start to introduce concepts such as scarcity, opportunity cost, concave shape, production possibility curve, factor immobility as well as positive & normative statements. You can obtain the practice paper (Extract 7: Japan’s ageing population) for this course at : https://bitly.ws/3egCU
0 Assignments
Lesson 1 - Economics Myth and What is Economics?
In this 1st lesson, i will share the misconception of what economics is and later on, i will talk about what is the study of economics.
Lesson 2 - Economics Prof DR Jamus Lim, Member of Parliament defining economics
Listen to Prof DR Jamus Lim, an economics professor and Member of Parliament of Singapore, defining economics in the interview with me!
Lesson 3 - Key Concepts
In lesson 3, we will learn about the key concepts of economics such as scarcity, opportunity costs, production possibility curves and ceteris paribus.
Lesson 4 - Production Possibility Curve (PPC)
In Lesson 4, we will be discussing the PPC. I will be showing the curves and the important stuff you need to know for your school. I will be putting numbers to the curve to allow you to understand how the PPC shows the different combination between 2 goods under resource limitation criteria. After which, i will explain why is the PPC concave.
Lesson 5 - Production Possibility Curve (PPC)
In Lesson 5, we will be discussing the PPC further detail. We will be talking why production possibilities are only possible on the curve – not in the curve or outside of the curve. We will discuss about shifting and movement of the PPC.
Lesson 6 - Macro Perspective of Productivity Possibility Curve (PPC)
In Lesson 6, we will discuss how PPC can be tested on a macro perspective. This is more of a Year 2 topic. I will use 2 concepts to explain - economic growth and constant opportunity cost perspective.
Lesson 7 - Normative and Positive Statement
In this lesson 7,i will explain what are normative and positive statements and how to identify them.
Lesson 8 - Exam Question Walk through
In this last lesson, Lesson 8, i will be going through one of the past year exam question. You can download the extract from . It is available for free. This is the most important lesson as i will be demonstrating the technique to answer an exam question.