JC H1 and H2 Economics Study Notes – 2. Marginalist Principle

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Marginalism is a theory that asserts individuals make decisions on the purchase and consumption of an additional unit of a good or a service based on the additional satisfaction / benefit / utility they will receive from it. In Economics for junior college (JC) pupils, we will invoke the marginalist principle to observe how individual units in a market or economy makes decisions on consumption and production.

In simple sense, any activity one carries pout, if the resultant benefit is larger than the corresponding costs of that activity, one ought to do more of it. This is an assumption, we make in A-Level Economics as well: the individual buyer or seller is a rational in decision making.

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We at Adam Smith Economics Tuition, have compiled a complete set of JC notes for students doing H1 & H2 Econs, for the latest syllabus of 8823 and 9757 respectively. We have painstakingly referred to the following varied sources:, which are recommended by SEAB as approved textbooks. Thus, we have done the reading and compilation, so you don’t have to! (Note: Those in italics mean they are referred to more than the rest. Note also that, we did not highlight the specific edition too, any edition in the past 10 years or so will suffice.)

1. Economics Today, by Miller, Roger
2. Economics, by Parkin, Michael 
3. Economics, by Sloman, John, Wride, Alison and Garratt, Dean 
4. Microeconomics: Principles, Problems and Policies, by McConnell, Campbell R and Brue, Stanley
5. The Economic Way of Thinking, by Heyne, Paul, Boettke, Peter and Prychitko, David
6. Economics, by Lipsey, Richard G and Chrystal, K Alec
7. Principles of Economics, by Mankiw, N Gregory Principles of Economics
8. A Microeconomics: A Contemporary Introduction, by McEachern, William
9. A Macroeconomics: A Contemporary Introduction, by McEachern, William

On top of the above textbooks, we did take the best remaining sections from selected junior colleges (DHS, HCI…) and put up this lecture notes set, completely FREE.

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