CAPE Economics Unit 1 case studies
CAPE Economics Unit 1 · Put your knowledge to work in context.
CAPE Economics Unit 1 is the first of two independent units in the Caribbean Advanced Proficiency Examination Economics syllabus, offered by the Caribbean Examinations Council (CXC). Unit 1 focuses on microeconomics and is one of the three modules that make up the unit: Methodology: Demand and Supply; Market Structure, Market Failure and Intervention; and Distribution Theory. Each module requires approximately 50 hours of instruction, totaling 150 hours per Unit. The syllabus is designed for students who wish to understand how individuals, households, firms, governments and international institutions allocate scarce resources, and it develops skills in applying economic concepts, analysing data, evaluating policies and making evidence-based judgments. The CAPE Economics Unit 1 case studies are 5 cases and about 3,131 words.
1Ferry Fare Cap After the Bridge Closure
An island community of 9,000 residents depends on a single scheduled ferry. Before the only bridge closed, the fare was 6 and the ferry carried about 800 passengers a day, with 70% of seats used.
755 words, about 4 min2Two Bus Operators and a Proposed Merger
A regional town of 180,000 people has three bus operators. Redline carries 60% of passenger trips, Bluebird 30%, and a fringe of small operators 10%.
609 words, about 3 min3Minibus Congestion Charge in the City Centre
A city centre is served by 10,000 minibus trips a day at an average fare of $2.00. The regulator estimates marginal private cost as MPC = 1 + 0.0001Q and marginal external congestion cost as MEC = 0.0001Q, where Q is trips per day and costs are dollars per trip.
651 words, about 3 min4Company Town Minimum Wage at the Sawmill
A company town has 1,500 working-age adults. The only substantial employer is a sawmill, which currently employs 1,200 workers at 3.00 an hour.
648 words, about 3 min5Cocoa Price Floor and Farmer Incomes
A cocoa-growing country produces 60,000 tonnes a year. The world price is 2,400 a tonne, but the government guarantees farmers 3,000 a tonne and buys any output that private buyers will not take at that price.
468 words, about 2 min