Changes to O'level Economics Syllabus for the year 2013

Changes to O’level Economics syllabus for the year 2013

Attention Teachers & Students

Some contents are relisted and some topics are newly added

 

Relisted Topics

 From;

Ø  describe the differences in earnings between different occupational groups (male/female; skilled/

            unskilled; private/public; agricultural/manufacturing/services);

            To;

Ø  describe the differences in earnings between different groups of workers (male/female; skilled/unskilled;

private/public; agricultural/manufacturing/services);

 From;

Ø  describe how the retail price index is calculated;

To;

Ø  describe how a consumer prices index/retail prices index is calculated;

 

*¹Newly Added Topics

Ø  demonstrate how production possibility curves can be used to illustrate choice and resource allocation;

Ø  distinguish between labour-intensive and capital-intensive production;

Ø  define productivity and recognise the difference between productivity and production;

Ø  describe the principle of profit maximisation as a goal and *²recognise that business organisations may

have different goals;

Ø  explain fiscal, monetary and *³supply-side policies;

Ø  analyse the use of fiscal, monetary and supply-side policies;

Ø  describe the difference between *⁴absolute and relative poverty;

Ø  discuss the causes and consequences of *⁵deflation.

Ø  define the term recession;

Ø  discuss the causes and consequences of current account deficits and surpluses;

 

^*1Some of the newly added topics might have appeared in the past exams, but the reason for including those as new topics is they are specifically mentioned in the syllabus now.

^*2 This part is completely new to the syllabus and teachers/students are kindly requested to give importance to this.

^*3 This part is completely new to the syllabus and teachers/students are kindly requested to give importance to this.

^*4 This part is completely new to the syllabus and teachers/students are kindly requested to give importance to this.

^*5 This part is completely new to the syllabus and teachers/students are kindly requested to give importance to this.