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To view an excellent introductory animation to introduce the concept of the circular flow of income, visit this page from the excellent Macroeconomics, Manfred Gärtner, Resources For Students site. A large copy of the same flash file is here. A couple of youtube videos should also help explain this model. First the long one: Source: [...]

Visit this site and explore different possibilities on a supply/demand graph with varying levels of tax applied. Try answering the questions at the bottom. (Note – the graph also refers to Efficiency Loss which is not actually required on the IGCSE syllabus, but is necessary to IB Economics). McConnell Brue Economics – Online Learning Centre [...]

The syllabus requires that you able to do the following: describe the types of taxation (direct, indirect, progressive, regressive, proportional) and the impact of taxation; Direct versus Indirect Compare these two definitions: http://en.wikipedia.org/wiki/Direct_tax http://en.wikipedia.org/wiki/Indirect_tax Can you explain the difference between direct and indirect tax with example taxes? Progressive, Regressive, and Proportional Tax ONE Massachusetts demonstrates [...]

[Image: nDevilTV  Some rights reserved] The Cambridge IGCSE syllabus requires us to have a good understanding of the following: define total and average cost, fixed and variable cost and perform simple calculations; analyse particular situations to show changes in total and average cost as output changes; define total and average revenue and perform simple calculations; [...]

The Cambridge IGCSE Economics syllabus requires students to describe (and therefore understand) the following as part of section 4.4 The private firm as producer and employer: the type of business organisation in the public and private sectors: sole proprietors, partnerships, private companies, public companies, multi-nationals, co-operatives, public corporations; To start us thinking about some of [...]

These YouTube clips help us to understand some of the ideas to do with Market Failure. Some of the ideas in the first clip are not needed for IGCSE understanding (adverse selection and moral panic). 1) General understanding of Market Failure 2) Negative Externalities Explained Note this uses Marginal Costs and Marginal Benefits curves. Marginal [...]

From flickr.com. Uploaded on April 2, 2007 by SideLong Before starting to understand Price Elasticity of Supply, it is worth recapping Price Elasticity of Demand. Click on the following link: www.business2000.ie provides an interactive quiz on PED This site introduces the main concepts of Price Elasticity of Supply: Slideshow from http://www.econ.ucsb.edu This site gives a [...]

  Good recap video: Good overview video: Activity: Recapping Factors Affecting Demand and Supply Econedlink Site Activity: Exploring changes in Supply and Demand Ecedweb Site Activity: How changes in Supply and/or Demand affect Market Equilibrium College Cram Site More sophisticated diagram analysis of teh same issue Whitenova Site Activity: Activity: Changes in Supply and Demand [...]

Before moving on it is worth recapping the Demographic Transition model: BBC Scotland Animation of DTM Now we compare population structures (also known as age-sex structures or ‘population pyramids’) between MEDCs and LEDCs. The following animation should make sense before moving on: BBC Scotland Education Population Pyramid Flash Animation Now download the following worksheet and [...]

Recapping some key words … can you define the following: Birth Rate Death rate Natural Increase Natural Decrease Sec 2 – Birth Rate & Death Rate View more presentations from chua.geog. First, use the above slideshow to revise some reasons for high and low birth and death rates. You should make a table to summarise [...]