Economics A Level

*IMPORTANT INFORMATION FROM THE MARSH ACADEMY FOR SEPTEMBER 2024 APPLICATIONS*

Applications Open: - 24 November 2023

Applications Close: - 24 May 2024

Entry Requirements: - Students wishing to study 3 Level 3 courses will be required to achieve 5+ GCSEs at grade 5 and above including English and Mathematics. However, some subjects have additional requirements in terms of the grades required. The Marsh Academy operates a sliding scale of qualifications which are outlined on the Marsh Academy website. There is scope for students to study 2 Level 3 subjects and also studying some Level 2 subjects. Students who wish to study two subjects must have attained 4+GCSEs at grade 5 or above.

How to Apply: - Please apply via Kent Choices

Open Event: - 23 November 2023 18:00

A level Economics requires logical thinking, and a command of Maths to good GCSE level. It's also a subject which requires social awareness and which develops the ability to debate, both in class and on paper. There's often no right or wrong answer when it comes to Macroeconomics, so you need to be able to present arguments clearly, supported by relevant examples. You can't rely entirely on your textbook. Economics is the life-blood of political debate, and you need to keep up to date, following news online and in print to pick up on economic, political, business and social issues.

Students are introduced to economics through building knowledge of core microeconomic and macroeconomic concepts, and by investigating economic theory through real-world businesses and the environments in which they operate. Breadth and depth of knowledge and understanding with applications to more complex concepts and models are developed in the second year of study. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessment and demonstrate an awareness of current economic events and policies.

Theme 1: Markets, consumers and firms

● scarcity, choice and potential conflicts, ● enterprise, business and the economy ● introducing the market ● the role of credit in the economy ● market failure and government intervention ● revenue, costs, profits and cash.

Theme 2: The wider economic environment

● business growth and competitive advantage ● firms, consumers and elasticities of demand ● productive efficiency ● life in a global economy ● the economic cycle

● introduction to macroeconomic policy.

Theme 3: The global economy

● globalisation ● economic factors in business expansion ● impact of globalisation on global companies ● impact of globalisation on local and national economies ● global labour markets ● inequality and redistribution.

Theme 4: Making markets work

● competition and market power ● market power and market failure ● market failure across the economy ● macroeconomic policies and impact on firms and individuals ● risk and the financial sector.

The course is assessed by terminal examinations which take place at the end of the course.

Paper 1: Markets and how they work - 35% of the final marks

Written examination.

● The paper comprises three sections.

● Students answer all questions from all sections.

● Section A comprises one data response question.

● Section B and Section C each comprise one extended open-response question based on data.

● Duration: 2 hours.

Paper 2: Competing in the global economy - 35% of the final marks

● Written examination.

● The paper comprises three sections.

● Students answer all questions from all sections.

● Section A comprises one data response question.

● Section B and Section C each comprise one extended open-response question

based on data.

● Duration: 2 hours.

Paper 3: The economic environment and business 30% of the final marks

Written examination.

● The paper comprises two sections. Each section comprises data response

questions broken down into a number of parts, including one extended

open-response question.

● Students answer all questions from both sections.

● Duration: 2 hours.

Students will need to achieve 5+ GCSEs at grade 5 or above including a grade 6 or above in mathematics in addition to the published entry requirements. You need to have a real curiosity about the world, to think logically and you must have a desire to debate issues based on evidence.

As well as leading into Economics-based degrees, A level Economics is a good background to a wide range of other degrees. Be aware that top Economics degree courses may well also require A level Maths. A level Economics is well respected for the breadth you need to show in order to get a good grade.