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Economics

Objective Paper

Demand, supply, market structures.

Demand and Supply
HIGH
Laws, curves, elasticity.
Objectives:
Candidates should be able to solve demand/supply problems.
Market Structures
HIGH
Perfect competition, monopoly, oligopoly.
Objectives:
Candidates should be able to compare market structures.
Production and Cost
HIGH
Factors of production, cost curves.
Objectives:
Candidates should be able to compute costs.
Utility
MEDIUM
Total, marginal, diminishing utility.
Objectives:
Candidates should be able to apply utility theory.

National income, money, banking.

National Income
HIGH
GDP, GNP, methods of computation.
Objectives:
Candidates should be able to compute national income.
Money and Banking
HIGH
Money, functions of banks, central bank.
Objectives:
Candidates should be able to describe money and banking.
Inflation
HIGH
Types, causes, control.
Objectives:
Candidates should be able to analyse inflation.
Public Finance
MEDIUM
Taxation, government budget.
Objectives:
Candidates should be able to describe public finance.

Growth, development, international trade.

International Trade
HIGH
Balance of payments, exchange rates.
Objectives:
Candidates should be able to analyse international trade.
Economic Development
MEDIUM
Indicators, obstacles, strategies.
Objectives:
Candidates should be able to describe development strategies.
Subject Overview

Microeconomics, macroeconomics and development economics.

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