Overview
This theme builds on the knowledge and skills gained in Theme 2: The UK economy – performance and policies, and applies them in a global context.
Students will need to build upon the knowledge, skills and understanding developed from Theme 2 in Theme 4, making connections across these two macroeconomic themes in Paper 2, and across Themes 1, 2, 3 and 4 in Paper 3.
This theme builds on the knowledge and skills gained in Theme 2: The UK economy – performance and policies, and applies them in a global context.
Students will need to build upon the knowledge, skills and understanding developed from Theme 2 in Theme 4, making connections across these two macroeconomic themes in Paper 2, and across Themes 1, 2, 3 and 4 in Paper 3.
Content
Students will be expected to understand the significance of globalisation, international trade, the balance of payments and exchange rates. They will examine public finance, macroeconomic policies and the role of the financial sector in a global context. Students will consider the factors influencing the growth and development of emerging and developing countries.
In examining these areas, application, analysis and evaluation of economic models is required as well as an ability to assess policies that might be used to address national and global economic challenges. Students should develop an awareness of trends in the global economy over the last 25 years through wider reading and research so that they can include relevant examples in their analysis and evaluation.
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