The course introduces the basic concepts of micro and macroeconomic theory.
Unit 1: Markets and Market Failure
Tackles the basic economic problem of how resources should be allocated and includes topics such as market failure, efficiency and government intervention.
Unit 2: The National Economy
Focuses on the role of the government in maintaining the UK economy and includes topics such as macroeconomic performance and policy.
Unit 3: Economic Principles and Issues
A synoptic paper designed to highlight the interdependence of economic themes across all of the topics covered in Unit 1 and Unit 2.
Course Details
The course introduces the basic concepts of micro and
macroeconomic theory.
Unit 1: Markets and Market Failure
Tackles the basic economic problem of how resources should
be allocated and includes topics such as market failure, efficiency and government intervention.
Unit 2: The National Economy
Focuses on the role of the government in maintaining the
UK economy and includes topics such as macroeconomic performance and policy.
Unit 3: Economic Principles and Issues
A synoptic paper designed to highlight the interdependence
of economic themes across all of the topics covered in Unit 1 and Unit 2.
How will it be delivered and assessed?
All units will be assessed externally through examinations, with each unit worth 33.3% of the total A Level grade. There is no coursework element included in the specification.
Units 1 and 2: Examination each of 2 hours
Section A: Data response questions requiring written answers; choice of one from two contexts (40 marks)
Section B: Essay questions requiring written answers; choice of one from three (40 marks)
Unit 3: Examination of 2 hours
Section A: Multiple choice questions (30 marks)
Section B: Case study questions requiring written answers (50 marks)
Entry requirements
You need to have achieved GCSE English at Grade 6 or above and GCSE Mathematics at Grade 7 or above.
You will need to keep up to date with current events by watching news programmes and reading a broadsheet newspaper.
You will need to communicate ideas effectively, analysing a range of models and their applications within class discussions and written assignments. While it is not a requirement that students also study Maths, you should be comfortable working with numerical data.
