What this topic covers
How the economy works has 5 subtopics:
- Introduction to the national economy
- Government objectives
- How the government manages the economy
- International trade and the global economy
- The role of money and financial markets
GCSE AQA Economics
How the economy works – GCSE AQA Economics revision notes
Revise How the economy works for GCSE AQA Economics, including Introduction to the national economy and Government objectives. 39 lessons across 5 subtopics.
How the economy works covers Introduction to the national economy, Government objectives, How the government manages the economy, and International trade and the global economy in GCSE AQA Economics. 39 lessons in 5 subtopics.
39
Lessons
5
Subtopics
How the economy works lessons by subtopic
39 lessons, grouped by subtopic.
Introduction to the national economy
- UK Government: Income and Expenditure
- Direct vs. Indirect Taxation
- Progressive and Regressive Taxes
- Understanding Interest Rates
- Interest Rates and Consumer Decisions
- Interest Rates and Producer Decisions
Government objectives
- Intro to Economic Objectives
- Conflicts Between Economic Objectives
- Understanding Economic Growth
- Economic Growth: Causes, Consequences and Policy
- Causes and Consequences of Unemployment
- Understanding Inflation and Price Stability
- Understanding Balance of Payments
- Balance of Payments: Policies and Calculations
- Understanding Income and Wealth Inequality
- Government Policies and Income Redistribution
How the government manages the economy
- Intro to Fiscal Policy & Government Budget
- Fiscal Policy's Effect on the Economy
- Balanced Budget, Surplus & Deficit
- What is Monetary Policy?
- Monetary Policy and Inflation
- Intro to Supply-Side Policies
- Supply-Side Policies: Types & Examples
- Advantages, Disadvantages & Government Objectives
- Government Policies to Correct Externalities
International trade and the global economy
- Why Countries Trade
- UK Trade: Imports, Exports and Global Interdependence
- Understanding Exchange Rate Determination
- Impact of Exchange Rate Fluctuations
- Understanding Free Trade
- Free Trade and the EU
- What is Globalisation?
- Globalisation: Benefits and Drawbacks for the UK
- Globalisation: Impact on Developing Countries
- Ethics, Sustainability and Global Trade
The role of money and financial markets
More in this course
Go back to the full GCSE AQA Economics topic list, or practise this topic with past-paper questions.
Frequently asked questions
Is this the right How the economy works page for my course?
These notes are for GCSE AQA Economics. If you are on a different exam board, choose your course from the Economics page instead, because the content is not always the same.
What should I do after reading the lessons?
Test yourself without the notes open, then try past-paper questions on the same topic. The questions you get wrong tell you which lesson to go back to.