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✦ Edexcel IAL A2 · AS Level · IGCSE O-Level Economics · by Yaman Ur Rahman

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Unit 3 · Chapter 1 · 3.3.1

Types & Sizes of Businesses

  • Business objectives — profit max, revenue max, satisficing
  • Principal-agent problem & divorce of ownership
  • All 4 merger types — vertical, horizontal, conglomerate
  • Constraints on growth with evaluation
  • Past paper Qs + 10 × 20-mark essay plans
📖 Read Free — A2 Unit 3 Ch.1 →
FREE
Unit 4 · Chapter 1 · 4.3.1

Causes & Effects of Globalisation

  • All 5 causes — trade liberalisation, TNCs, tech, political change
  • FDI motives — 5-type framework with country examples
  • Milanovic elephant curve & Autor, Dorn & Hanson (2013)
  • GDP vs GNI distinction — Ireland case study
  • Past paper Qs + 10 × 20-mark essay plans
📖 Read Free — A2 Unit 4 Ch.1 →
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5 diagram packs · AS Unit 1 & 2 · A2 Unit 3 & 4 · O Level · All free with account

Full Content

Everything the Spec Demands.
Nothing You Don't Need.

Every level fully covered — spec point by spec point, command word by command word. AS · A2 · O Level.

Chapter 1 FREE

Types & Sizes of Businesses

  • Business types: private, public, co-ops, joint ventures
  • Growth: organic, vertical, horizontal, conglomerate
  • Profit max, revenue max, sales max, satisficing
  • Principal-agent problem — Berle & Means
  • Demergers: reasons and all stakeholder impacts
Chapter 2

Revenue, Costs & Profits

  • TR, AR, MR — all formulae with worked examples
  • Short-run cost curves from diminishing returns
  • TC, TFC, TVC, AC, AFC, AVC, MC relationships
  • Internal & external economies of scale — all 6 sources
  • Normal profit, supernormal profit, shutdown points
Chapter 3

Market Structures & Contestability

  • Perfect competition, monopoly, oligopoly, monopsony
  • Game theory & Nash Equilibrium payoff matrices
  • Price discrimination — all 3 degrees with diagrams
  • Baumol contestability — sunk costs significance
  • Allocative, productive, dynamic & X-efficiency
Chapter 4

Labour Markets

  • MRP theory — labour as a derived demand
  • Marshall's 4 rules of wage elasticity
  • Trade unions as monopoly suppliers of labour
  • Bilateral monopoly & monopsony power
  • Geographical & occupational immobility — causes & consequences
Chapter 5

Government Intervention

  • Price cap RPI-X vs rate of return regulation
  • CMA merger investigations & powers
  • Privatisation vs nationalisation — full debate
  • RAIL framework — regulatory failure taxonomy
  • Minimum wage: competitive vs monopsony model
Every Chapter

Exam Features

  • Past paper Qs with full model answers
  • 10 × 20-mark essay plans per chapter
  • Named economists for every topic
  • Collapsible sections — perfect for active recall
  • Exam tip callouts throughout
Chapter 1 FREE

Causes & Effects of Globalisation

  • Trade-to-GDP ratio, TNC & FDI characteristics
  • All 5 causes: WTO, blocs, Soviet collapse, transport, TNCs
  • FDI — 5 motives: resource, market, efficiency, strategic, tax
  • Milanovic elephant curve, Autor/Dorn/Hanson (2013)
  • Winners vs losers — full stakeholder grid
Chapter 2

Trade & the Global Economy

  • Comparative advantage — fully worked numerical examples
  • Terms of Trade formula, calculation & 5 factors
  • All 4 trading bloc types: FTA → CU → CM → EMU
  • WTO, Doha failure — all 7 protectionism reasons
  • Marshall-Lerner condition & J-curve effect
Chapter 3

BoP, Exchange Rates & Competitiveness

  • Full BoP structure — current, capital, financial accounts
  • Fixed vs managed vs floating — intervention tools
  • Bernanke global savings glut, Plaza Accord (1985)
  • ULC formula, REER, UK productivity puzzle
  • Mundell-Fleming impossible trinity, Dornbusch overshooting
Chapter 4

Poverty & Inequality

  • Absolute vs relative poverty — measures
  • Lorenz curve & Gini coefficient
  • Causes of income & wealth inequality within/between countries
  • Impact: enterprise, savings, migration, life expectancy
  • Free market capitalism & inequality — the debate
Chapter 5

Role of the State in the Macroeconomy

  • Capital, current & transfer payment expenditure
  • Taxation: direct vs indirect, Laffer curve analysis
  • Fiscal deficit vs national debt — structural vs cyclical
  • 2008 crisis — demand-side policy response
  • TNC regulation: transfer pricing, BEPS, limits
Chapter 6

Growth & Development

  • HDI — education, health, income components
  • Prebisch-Singer hypothesis, Harrod-Domar model
  • Lewis dual-sector structural model
  • Market vs interventionist development strategies
  • IMF, World Bank, NGOs — roles and critique
Unit 1 · Complete

Markets in Action

  • PPF, opportunity cost, economic systems
  • Demand & supply — all shifters with diagrams
  • Consumer & producer surplus, market failure
  • Externalities, public goods, information failure
  • Government intervention — taxes, subsidies, price controls
Unit 2 · Complete

Macroeconomic Performance & Policy

  • GDP, growth, inflation (CPI/RPI), unemployment, BoP
  • AD/AS model — all shifters, short & long run
  • Keynesian vs monetarist debate — evaluations
  • Fiscal, monetary & supply-side policy toolkit
  • Policy conflicts & trade-offs — full analysis
Both Units

AS Exam Features

  • Essay plans for every major topic — AS-style evaluation
  • 10-mark and 25-mark question frameworks
  • Named economists: Keynes, Friedman, Laffer, Beveridge
  • Past paper model answers with examiner notes
  • Diagram annotation guides for every key diagram
Paper 1 · Microeconomics

Markets, Consumers & Firms

  • Demand & supply — shifts, elasticity (PED, PES, YED, XED)
  • Market failure — externalities, public goods, monopoly
  • Price controls — minimum & maximum prices
  • Costs & revenue — short & long run
  • Market structures — monopoly vs competition
Paper 2 · Macroeconomics

National Economy & Global Trade

  • Economic growth, inflation, unemployment, BoP
  • AD/AS model — causes and policy effects
  • Fiscal, monetary & supply-side policies
  • International trade — comparative advantage, protectionism
  • Exchange rates — causes of change and effects
Full Course

O Level Exam Features

  • Every definition written exactly as examiners expect
  • Structured answer frameworks — 2, 4, 6 and 8 mark Qs
  • Diagram drawing guides — step by step, labelled
  • Data response question technique with worked examples
  • Essay technique — argue, analyse, evaluate, conclude
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Every level. Every spec. All written by a student who sat these exact exams.

Yaman Ur Rahman built EcoNotes because no resource existed that was written for the exam, not the subject. Every note, every essay plan, every worked answer is crafted for maximum marks.

IGCSE O Level

O Level Economics.
Demystified.

The O Level exam rewards students who write clearly, structure answers correctly, and apply diagrams with precision. Not students who memorise the most. EcoNotes teaches you exactly that.

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Every diagram, explained

12 core diagrams with step-by-step drawing guides. Every label, every curve, every shift — exactly as the mark scheme wants it.

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Answer structure that earns marks

2-mark, 4-mark, 6-mark and 8-mark answer frameworks built from past mark schemes. You'll know exactly what to write and how long to write it.

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Definitions that score every time

Every key term written in the precise language examiners reward. Learn it once, use it in every paper.

Complete O Level Economics coverage — both papers — for ৳500.

Less than a single tuition session. Covers everything. Stays with you until your exam.

IAL AS Level

AS Economics.
Your Foundation Year Matters.

AS is where habits form. Students who learn the right essay structure at AS level carry it straight into A2. Those who don't, scramble to unlearn bad habits under exam pressure. Get it right from the start.

Unit 1 — Markets in Action

From PPF to externalities to government failure — Unit 1 is the bedrock of all economics. Our notes make demand & supply intuitive, market failure systematic, and essay arguments razor-sharp. Every diagram labelled, every definition exam-ready.

Unit 2 — Macroeconomic Performance

The AD/AS model, Keynesian vs monetarist debate, policy conflicts — Unit 2 is where the big arguments happen. We map every argument, every counter-argument, every named economist you need. Fiscal, monetary and supply-side — fully covered with policy evaluation built in.

Both AS units. All chapters. All essay plans. ৳1,000.

The strongest AS students aren't necessarily the brightest — they're the most prepared. These notes are your preparation.

IAL A2 Level

A2 Economics.
Where Good Becomes Great.

A2 separates students who know the content from students who can use it. The 20-mark essay is where the grade is won or lost. EcoNotes gives you the frameworks, the economists, the mechanisms and the evaluations — so you walk in ready.

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Named economists for every topic

Baumol, Marshall, Williamson, Milanovic, Prebisch-Singer — every key economist placed in context with the argument they support. Use them in essays to reach Band 4.

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80+ 20-mark essay plans

The most examined questions — planned out with a chain of argument, evaluation and a qualified conclusion. Not templates to copy, but frameworks that teach you to think like an examiner.

80+ past paper worked answers

Every past paper question answered with examiner commentary. See exactly what earns marks and what loses them — then replicate it under exam conditions.

Get both A2 units together for just ৳1,650.

That's 11 chapters, 80+ essay plans, 80+ past paper answers, and every economist you need to reach the top band.

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