NSSCO Economics (6145) study plan

Distinguish movements along a demand or supply curve from shifts, and list at least four shift factors for each curve

Draw and label equilibrium diagrams for price ceilings, price floors and indirect taxes, showing the resulting shortage or surplus

Compute price elasticity of demand using the midpoint formula and classify results as elastic, inelastic or unit elastic

Explain the link between elasticity and total revenue for price rises and price falls, using two worked examples

Distinguish fixed, variable, average and marginal costs and plot each on a correctly labelled cost curve diagram

Explain the law of diminishing returns and show how it shapes short-run marginal and average cost curves

Compare perfect competition, monopoly and monopolistic competition on number of firms, price setting power and long-run profit

Explain profit maximisation using the marginal cost equals marginal revenue condition, including a shut-down case

Explain scarcity, opportunity cost and the three basic questions every economy must answer

Compare market, planned and mixed economies on ownership, decision-making and allocation of resources

Describe the structure of the Namibian economy, naming the main primary, secondary and tertiary contributors to GDP and employment

Identify at least four features of the Namibian economy relevant to development, such as small population, export concentration and dependence on primary commodities

State the functions of money and distinguish the functions of a central bank from those of commercial banks

Explain credit creation by commercial banks using a simple numerical example with a reserve ratio

Define GDP, GNP and national income, and distinguish nominal from real values

Explain the circular flow of income and identify injections and withdrawals

Calculate GDP using the expenditure approach from a set of given figures

Distinguish demand-pull from cost-push inflation and explain two causes of each

Classify unemployment by type (frictional, structural, cyclical, seasonal) and match each to an appropriate policy response

Explain how fiscal policy instruments affect aggregate demand, output and the price level

Explain how monetary policy instruments, including the repo rate and reserve requirements, affect inflation and unemployment

Evaluate the trade-off between inflation and unemployment and state two limitations of using policy to manage both

Explain the difference between absolute and comparative advantage and apply it to a two-country, two-good example

Record transactions in the current account, capital and financial account, and identify what a surplus or deficit on the current account means

Explain how demand and supply of a currency determine a floating exchange rate, and how appreciation and depreciation affect exports and imports

Distinguish tariffs, quotas and subsidies and explain one effect of each on domestic consumers and producers

Explain at least four indicators of development, such as GDP per capita, literacy, life expectancy and income distribution

Distinguish economic growth from economic development and give Namibian examples of each

Evaluate two policies aimed at reducing inequality or poverty, stating one strength and one limitation of each

Explain how a country's dependence on a narrow export base affects its vulnerability to external shocks

Complete two full timed past-paper-style sessions under exam conditions and mark them against the mark scheme

Identify the three weakest domains from marked practice and redo at least ten questions in each

Practise defining twelve key terms from memory across all ten domains

Rehearse structured answer technique: definition, diagram, explanation, evaluation, for three different question types