H1 Economics has been revised from 8816 to 8819 from 2009.
The content has been further reduced.
1. Exclude Price Controls
2. Exclude monopoly power and imperfect information as sources of market
failures
3. Exclude Inequity
4. Exclude diagrammatic analyses of market failure and correct measures
using private and social marginal costs and benefits curves
5. Exclude comparison and discussion of standard of living over time and between
countries
6. Exclude GDP Deflator and Purchasing Power of Parity Theory
Examination Format
No change in Examination format ie
Section A (70%)
2 hrs 15 min
2 Cases : 14% for data response questions and 21% on higher order type
questions for each case
Section B (30%)
45 mins
Answer 1 out of 2 essay questions.