MATSEC IM Economics study plan

Map the full Intermediate Economics syllabus into a one-page topic checklist covering microeconomics, macroeconomics, and Maltese/global applied contexts

Define and correctly apply the core scarcity, opportunity cost, and production possibility frontier concepts to three worked examples

Distinguish positive from normative statements and classify ten sample exam-style statements accordingly

Build a glossary of 25 core terms with a one-line definition each, written in your own words

Derive and explain the shapes of demand and supply curves, including the ceteris paribus assumption

Calculate and interpret price, income, and cross elasticity of demand from given numerical data

Draw and label equilibrium, surplus, and shortage diagrams, then explain the adjustment process in writing

Analyse the effect of a price ceiling and a price floor on market outcomes with one diagram each

Explain consumer equilibrium using marginal utility and indifference curve approaches at an introductory level

Distinguish fixed from variable costs and compute total, average, and marginal cost from a cost table

Describe the short-run and long-run output decisions of a firm under perfect competition

Compare perfect competition with monopoly on price, output, and efficiency grounds

Identify market failure sources including externalities, public goods, and imperfect information

Illustrate a negative production externality on a diagram and explain the welfare loss

Evaluate government corrective tools such as taxation, subsidies, and regulation for one chosen externality

Practise one full timed past-paper section under exam conditions

Define the circular flow of income and explain injections and withdrawals with a numerical example

Compute and interpret GDP, GNP, and real versus nominal output from supplied figures

Explain the causes and types of unemployment and inflation, and link them to the Phillips curve idea

State the main macroeconomic objectives and explain the trade-offs between them

Explain fiscal policy instruments and evaluate their use in expansion and contraction

Explain how interest rates and money supply are used in monetary policy and describe transmission channels

Analyse supply-side policies and judge their effectiveness against demand-side alternatives

Apply macroeconomic policy to a current Maltese or euro-area economic issue

Explain comparative advantage and calculate gains from trade using a two-country, two-good example

Describe balance of payments components and interpret a current account deficit

Explain exchange rate determination and the effects of appreciation and depreciation on trade

Outline the role of the EU single market and the euro in Malta's economy

Consolidate weak areas flagged in weeks 1 to 7 by reworking every previously lost mark

Complete two full timed past papers and mark them strictly against the official scheme

Rehearse diagram-drawing speed so each required diagram takes under two minutes

Draft and memorise an essay skeleton for evaluation questions with a judgement and conclusion