Table of Contents
Micro............................................................................................................................................. 2
externalities, merit/demerit good, subsidies/indirect taxation....................................................2
oligopoly..................................................................................................................................... 5
Macro............................................................................................................................................ 7
diagrams.................................................................................................................................... 7
low-income / developing countries............................................................................................. 9
past paper questions.................................................................................................................. 9
41/M/J/23 Q4 fiscal, unemployment, balance of payments......................................................9
41/M/J/23 Q5 productivity, standard of living........................................................................10
43/O/N/23 Q4 fiscal, output gap............................................................................................11
Page 1 of 11
, ↑↓→←
Micro
externalities, merit/demerit good, subsidies/indirect taxation
3.2, 8.1, 10.3.1 (Laffer curve)
- give more examples
positive negative
consumptio - education, healthcare - second-hand smoke
n - alcohol: increased crime, violence
production - medical research and innovation - noise, air pollution from factories
when a firm develops vaccines - water companies dumping sewage
- beekeepers: bees help pollinate in rivers
surrounding crops
define merit/demerit goods, give examples
incidence proportion of tax burden borne by producers or consumers
subsidies
- direct payments to producers by government to facilitate lower prices
Page 2 of 11
Micro............................................................................................................................................. 2
externalities, merit/demerit good, subsidies/indirect taxation....................................................2
oligopoly..................................................................................................................................... 5
Macro............................................................................................................................................ 7
diagrams.................................................................................................................................... 7
low-income / developing countries............................................................................................. 9
past paper questions.................................................................................................................. 9
41/M/J/23 Q4 fiscal, unemployment, balance of payments......................................................9
41/M/J/23 Q5 productivity, standard of living........................................................................10
43/O/N/23 Q4 fiscal, output gap............................................................................................11
Page 1 of 11
, ↑↓→←
Micro
externalities, merit/demerit good, subsidies/indirect taxation
3.2, 8.1, 10.3.1 (Laffer curve)
- give more examples
positive negative
consumptio - education, healthcare - second-hand smoke
n - alcohol: increased crime, violence
production - medical research and innovation - noise, air pollution from factories
when a firm develops vaccines - water companies dumping sewage
- beekeepers: bees help pollinate in rivers
surrounding crops
define merit/demerit goods, give examples
incidence proportion of tax burden borne by producers or consumers
subsidies
- direct payments to producers by government to facilitate lower prices
Page 2 of 11
