Introduction; Syllabus mapping; How to use this series; How to use this Teacher's Resource; About the authors; About the syllabus; About the examination; Approaches to teaching and learning; Section 1. The basic economic problem; Chapter 1. The nature of the economic problem; Chapter 2. Factors of production; Chapter 3. Opportunity cost; Chapter 4. Production possibility curve diagrams; Section 2. The allocation of resources; Chapter 5. The role of markets in allocating resources; Chapter 6. Demand; Chapter 7. Supply; Chapter 8. Price determination; Chapter 9. Price changes; Chapter 10 Price elasticity of demand (PED); Chapter 11. Price elasticity of supply (PES); Chapter 12. Market economic system; Chapter 13. Market failure; Chapter 14. Mixed economic system; Section 3. Microeconomic decision makers; Chapter 15. Money and banking; Chapter 16. Households; Chapter 17. Workers; Chapter 18. Firms; Chapter 19. Firms and production; Chapter 20. Firms costs, revenue and objectives; Chapter 21. Types of markets; Section 4. Government and the macroeconomy; Chapter 22. Government macroeconomic intervention; Chapter 23. Fiscal policy; Chapter 24. Monetary policy; Chapter 25. Supply-side policy; Chapter 26. Economic growth; Chapter 27. Employment and unemployment; Chapter 28. Inflation and deflation; Section 5. Economic development; Chapter 29. Living standards; Chapter 30. Poverty; Chapter 31. Population; Chapter 32. Differences in economic development between countries; Section 6. International trade and globalisation; Chapter 33. Specialisation and free trade; Chapter 34. Globalisation and trade restrictions; Chapter 35. Foreign exchange rates; Chapter 39. Current account balance of payments.