This is one of a set of Powerpoints (and accompanying Notes/Key Terms sheets) that I have created for my own teaching of the macroeconomic topics in the new (linear) AQA A-level Economics specification (7135). They follow the order of teaching recommended by the exam board and (generally) the AQA-approved textbooks (Powell & Powell, 2015).
When I teach this course I have the students do some ‘flipped learning’: presenting the topics that are re-visited from the first year to their peers. This Powerpoint covers the ground that I would expect them to cover and includes the elements that are extension for Year 2.
If you choose to use a flipped approach, this Powerpoint can be used as a back-up for anything that the chosen student misses. If you follow a teacher-led approach, this Powerpoint will cover the relevant Year 2 material, with a brief re-cap of Year 1 content.
Key terms covered in this Powerpoint: (references to the specification):
4.2.5.2 Supply-Side policies
• The difference between supply-side policies and supply-side improvements in the economy.
• How supply-side policies can help to achieve supply-side improvements in the economy.
• How supply-side policies, such as tax changes designed to change personal incentives, may increase the potential output of
the economy and improve the underlying trend rate of economic growth.
• How supply-side policies can affect unemployment, the rate of change of prices and UK external performance, as reflected in the
balance of payments on current account.
• The role of supply-side policies in reducing the natural rate of unemployment.
• Free market supply-side policies include measures such as: tax cuts, privatisation, deregulation and some labour market reforms.
• Interventionist supply-side policies include measures such as: government spending on education and training, industrial policy,
subsidising spending on research and development.
• Supply-side policies can have microeconomic as well as macroeconomic effects.
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