A Level Economics

A Level Economics aims to help students develop an understanding of economic issues, problems and institutions that affect everyday life. Students learn how to analyse, explain and evaluate the strengths and weaknesses of the economy and the role of government within it. Economics has become an increasingly popular subject to study by students seeking to understand the changing national and international economic and political environments. It is relevant to the modern world and helps students to understand their role in society. The course provides the opportunity to study a wide range of concepts which can be applied in a variety of contexts whilst developing analysis, questioning and quantitative skills. This course would suit those students who enjoy a challenge and have a genuine interest in the economy and the wider world.

The first component is about microeconomics. This is the study of consumers, firms and markets. Students will learn microeconomic models and apply these to current problems and issues. We consider why consumers behave as they do and how firms make their decisions. We explore situations where markets do not deliver effective solutions for society and how governments may intervene to correct this.

Year 1 content includes:

• Economic methodology and the economic problem

• Price determination in a competitive market

• Production, costs and revenue

• The market mechanism, market failure and government intervention in markets

Year 2 content includes:

• Individual economic decision making

• Perfect competition, imperfectly competitive markets and monopoly

• The labour market

• The distribution of income and wealth: poverty and inequality

Section 2: National and international economy

This section is about macroeconomics which is the study of the whole economy. Students will learn about issues affecting a country’s economy such as unemployment, inflation and the trade balance. Students should have a good knowledge of developments in the UK economy and government policies in recent years.

Year 1 content includes:

• The measurement of macroeconomic performance

• How the macroeconomy works

• Economic performance

• Macroeconomic policy

Year 2 content includes:

• Financial markets and monetary policy

• Fiscal policy and supply side policies

• The international economy

Section 3: Economic principles and issues

This is a synoptic unit which draws together learning from both the previous units.

This is a two-year course which will be delivered through taught sessions and out-of-lesson learning, e.g. homework and pre-reading. You should have the ability and willingness to work with other students and attend intervention sessions, where necessary.

There are three two-hour examinations, weighted equally.

At least 5 GCSE Grades 9-4 to include Grade 5 or above in English and Grade 6 or above in Maths.

Economics is a rigorous A Level, highly regarded by universities and employers. Graduate economists can move into careers in, for example, banks and financial institutions, journalism, business and government.