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):
22.214.171.124 Fiscal policy
• Fiscal policy involves the manipulation of government spending, taxation and the budget balance.
• Fiscal policy can have both macroeconomic and microeconomic functions.
• How fiscal policy can be used to influence aggregate demand.
• How fiscal policy can be used to influence aggregate supply.
• How government spending and taxation can affect the pattern of economic activity.
• The types of and reasons for public expenditure.
• The relationship between the budget balance and the national debt.
• Cyclical and structural budget deficits and surpluses.
• The consequences of budget deficits and surpluses for macroeconomic performance.
• The role of the Office for Budget Responsibility.