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CIA4U EXAM REVIEW
CH TOPIC/PAGES CONCEPTS
GRAPHS
2
Role of Demand
Role of Supply
Market Equilibrium
Competitive
Price Elasticity of Demand
Dynamics (61-67,
Price Elasticity of Supply
70-71, 74-81)
Price controls
[91- 94 (fix & var)
Production, costs and profit
96 (d.m.r.), 103Diminishing marginal returns
105
Returns to scale (Incr, Const., Decr.)
(116-119)
Market Structures: 4 types
Entry Barriers, Market Power
Income Distribution Distribution of income (Lorenz Curve)
(188-204)
Reasons for income inequality
Poverty/Poverty Line, Incidence of poverty
Canadian welfare society (and criticisms)
Universality vs means testing
Taxes (2 principles, 3 ways to tax income)
Fig. 2.8, 2.9, 2.10
8
Measures of
Economic Activity
(214-226)
9
Inflation and
Unemployment
(236-248)
Fig. 8.3
Fig. 8.4
Mr. W’s
Circular Flow
Fig. 9.2
Fig. 9.4
Fig. 9.7
Fig. 9.8
Fig. 9.9
10
Economic
Fluctuations
(skim 261-76)
(287-291)
11
Fiscal Policy
(Mr. W lesson)
12
Monetary Policy
(Mr. W. lesson)
3
4
5
7
Demand and
Supply (34-50)
+ One Guest Speaker Jan. 24
GDP
Income and expenditure approaches
GDP and living standards (Real GDP)
Limitations of GDP
CPI and its limitations, GDP deflator
Inflation’s effects
Unemployment and participation rates
Drawbacks of unemployment rate
Types of unemployment (4)
Full Employment, natural unemployment rate
AD and AS and reasons for shifting (handout)
Equilibrium
Recessionary and inflationary gaps
Business cycles (+ causes from Mr. W’s lesson)
Discussions related to current economy.
Goal of Stabilization, Multiplier
Expansionary and contractionary fiscal policy
Benefits and drawbacks of fiscal policy
Expansionary (easy) and contractionary (tight)
monetary policy
Tools of monetary policy (3)
Benefits and drawbacks of monetary policy
Fig. 3.1, 3.2, 3.3,
3.4, 3.7, 3.8, 3.9,
3.14, 3.15
Fig. 5.1
Fig. 7.8, 7.9, 7.15
Page 207 Q5 table
Fig. 10.4/10.8
Fig. 10.9
Fig. 10.11
Fig. 10.12
Fig. 10.17/18
Only study Mr.
W.’s 1-page
handout
Only study Mr.
W.’s 1-page
handout