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):
18.104.22.168 Inflation and deflation
• The concepts of inflation, deflation and disinflation.
• Demand-pull and cost-push influences on the price level.
• Fisher’s equation of exchange MV = PQ and the Quantity Theory of Money in relation to the monetarist model.
• The effects of expectations on changes in the price level
• How changes in world commodity prices affect domestic inflation.