Economics (A Level)

This course is relevant to people with an interest in what is going on in the business & financial world around them. It is for people who want to understand, analyse and evaluate how the limited resources on this small planet are allocated between their competing uses. Everything you do and every choice you make is about Economics. Economics is about understanding human behaviour through the incentives that people have when making a choice. For more information: https://www.andertonpress.co.uk/alain-anderton-economics-sixth-edition/

What you will lean

It teaches you to be critical, analytical and to write extended evaluations, giving you the necessary theoretical models so that you can evaluate government economic policy for yourself. This includes the following topic areas:

1. Economic methodology and the economic problem
2. Individual economic decision making
3. Price determination in a competitive market
4. Production, costs and revenue
5. Perfect competition, imperfectly competitive markets and monopoly
6. The labour market, the distribution of income and wealth, incl’ poverty and inequality
7. The market mechanism, market failure and government intervention in markets
8. The measurement of macroeconomic performance
9. How the macroeconomy works & Economic success
10. Financial markets and monetary policy
11. Fiscal policy and supply-side policies
12. The international economy

How you will learn

There will be the following teaching styles:

• Note making on basic knowledge, key terms, theoretical models and calculations

• Practice using knowledge in micro economic or macro economic contexts

• Analysing and evaluating economic issues in context

• Practising calculations, how to interpret the answers and how the answers help to anlayse and / or evaluate an economic issue.

• Practical activities

• Paired / small group work

• Whole class questioning and discussion

• Independent learning, including research, note making and problem solving

• Self assessing one’s own work and action planning for revision

• Responding to advice and other feedback

Year 1

Markets and Market Failure; Types of Markets; The Market Mechanism; Government Intervention. The measurement of macro economic performance; How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis, and related concepts; Evaluating economic performance; Macro economic policy (fiscal, monetary & supply side).

Year 2

Markets and Market Failure; Individual Decision Making; Behavioural Economics; Market Structure; The Labour Market; The Distribution of Income & Wealth. Financial Markets and Monetary Policy; Fiscal Policy and Supply Side Policy; The International Economy; Economic Development.

Assessment 1: Paper 1, written exam, 2 hours, 33.3% of final grade.

Two sections. Section A: a choice of one from two data response contexts with questions requiring written answers, including one 25 mark evaluation essay, worth 40 marks in total. Section B: one 2-part essay question requiring extended written answers with a choice of one from three, worth 40 marks in total.

Assessment 2: Paper 2, written exam, 2 hours, 33.3% of final grade.

Two sections. Section A: a choice of one from two data response contexts with questions requiring written answers, including one 25 mark evaluation essay, worth 40 marks in total. Section B: one 2-part essay question requiring extended written answers with a choice of one from three, worth 40 marks in total.

Assessment 3: Paper 2, written exam, 2 hours, 33.3% of final grade.

Two sections. Section A: 30 multiple choice questions worth 30 marks. Section B: three case study based essay questions requiring extended written answers, worth 50 marks in total.

College basic entry requirements

• Grade 6 or above in GCSE English
• Grade 6 or above in GCSE Maths

Where next?

Traditional or apprenticeship degrees or the world of work. Example subjects that Business students move onto are as follows: Accounting, Business, Business Management, Business Administration, Economics, Econometrics, Human Geography, International Business, International Relations, Law, Management, Marketing, Operations Management, Politics, Psychology, Sociology.

Course Combinations

Economics is a good subject for combining with almost any other subject as it is so broad and uses expertise from other subjects. Really good combinations include the following: Business, English Language, English Literature, Geography, History, Mathematics, Politics, Psychology and Sociology.