Economics

Contact Teacher: Mr J Barnett, Head of Humanities

Exam Board: Edexcel A Level Economics A (Course Code 9Eco)

Why study Economics

Our world is dominated by Economics, whether you realise it or not! Therefore we often relate our studies to current affairs, and economic developments within and beyond the UK. Economics is a social science, that combines well with a broad range of subjects including Maths, English, History and Geography.  You will be dealing with economic theory and seeing how this theory fits the real world.  You will be applying economic concepts to contemporary UK economic and social issues such as how to achieve economic growth, tackle unemployment, and control rising prices.  Should interest rates be changed? What level should the minimum wage be? Should there even be a minimum wage? Should the government/EU subsidise farmers? What is the future of the Euro? How can government reduce the budget deficit?  What will be the impact of Brexit be? 

You will develop critical skills and be able to analyse and evaluate the effects of government policies and objectives on the economy. Economics is a rigorous and well respected A-level and as such is highly valued by HE institutions and employers.  It can lead to careers in accountancy, banking, financial services, the law, and much more! Many students go on to take degrees in Economics, Management, Business and Finance.

Course details

Theme 1
• Introduction to markets and market failure
• The nature of economics; how markets work; Market Failure; Government Intervention (this Theme introduces microeconomics)
Theme 2
• The UK Economy – performance and policies
• Measuring economic performance; aggregate demand; aggregate supply; national income; economic growth and macroeconomic objectives and policy
Theme 3
• Business behaviour and the labour market
• Business growth; Business objectives; Costs, revenues, profits; Market structures; Labour market; Government intervention
Theme 4
• A global perspective
• International economics; poverty and inequality; emerging and developing economies; the financial sector; role of the state in the macroeconomy

How the course is taught and assessed

We study economic theory and see how this fits the real world. We relate economic theory to what has happened in the UK and world economy. There is no coursework in Economics.  A student conference helps to enhance and extend learning beyond the classroom.

Exam Paper 1: Microeconomics
A mixture of multiple choice and short answer questions; one data response question and one open extended response question (choice of one from two)

Exam Paper 2: Macroeconomics
A mixture of multiple choice and short answer questions; one data response question and one open extended response question (choice of one from two)

Exam Paper 3
Questions drawn from all themes. Two data response and one open extended response question (choice of one from two)

Entry requirements

There is no need to have taken GCSE Economics in order to take A-level Economics. However, it is important that you have at least a GCSE grade 5 or above in both English and Mathematics.