Economics - A Level
Economics takes a specialised look at the financial markets and the strategic behaviour of firms and governments. Economics A-Level is designed to encourage you to develop an understanding of current economic issues, problems and institutions that affect everyday life. After studying economics, you will be able to apply economic concepts and theories in a range of contexts and appreciate their value and limitations in explaining real world phenomena. You will then be able to analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it.
As a student of economics you will gain a highly marketable set of skills which will enable you to undertake further study across a range of disciplines. We believe in this department it is a vital subject to study which helps keep up to date with the current climate and trends, also looking ahead of what are the possible outcomes giving students a step in advance.
This specification will enable candidates to develop an understanding of, and an insight into, micro and macroeconomics. There are two units:
Theme 1: Markets and market failure
In this unit you will explore the economic problem and the allocation and production of resources. It examines the issue of market failure and assesses government intervention in the market.
Theme 2: The National Economy
This unit teaches how the macro economy works including AD/AS analysis, the circular flow of income, and related concepts. You will review economic performance and macroeconomic policy.
Candidates develop the micro and macroeconomics already learnt in the first year, considering economic concepts and theories in greater depth and recognising the values and limitations of economic models. There are two units:
Theme 3: Business Economics and the Distribution of Income
You will study a range of market structures, both competitive and concentrated and their effect on consumers and society. The unit also explores objectives, costs and revenues experienced by the firm, labour markets and the role of government intervention in the market.
Theme 4: The National and International Economy
In this unit you will analyse macro-economic indicators, whilst exploring how the national economy is managed. You will also explore the International Economy.
Exam Board: Edexcel
Paper 1: 35% of total grade, this looks at markets and business behaviour. Paper 1 will assess microeconomics and questions will be drawn from theme 1 and 3.
Paper 2: 35% of total grade, this looks at the nation and global economy. Paper 2 will assess macroeconomics and questions will be drawn from themes 2 and 4.
Paper 3: 30% of total grade will look as both micro and macro economics. Paper 3 will assess content across all four themes.
Students are required to apply their knowledge and understanding, make connections and transfer higher-order skills across all four themes.
Head of subject: Mrs Sabharwal
6 in English literature and language, 6 in Maths.
Are you interested in: How markets operate, how the world economies run, current economic issues, how money works in the country?
Leading to a career in: Economist, Financial risk analyst, Data analyst, Financial planner, Accountant, Economic researcher, Financial consultant, Investment analyst.
This subject goes well with: Business, Maths, Psychology
"It is an interesting subject which helps us understand the economy of the country and other countries. It is vital information to help in the current climate."