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Economics

Why study A Level Economics?

Economics combines well with Geography, History, Languages and Mathematics but can also be taken with other subjects, as it does not necessarily require the support of another discipline. It can be difficult to timetable all the combinations requested.

Economics and business courses in higher education are becoming increasingly popular and establishments are offering Economics not just as a single subject but also in combination with Politics, Philosophy, Languages, History, Mathematics, Accountancy and Management. Thus the subject is a useful option at ‘A’ level.

The careers on offer to an economist include banking, national and international finance, education, accountancy, management, marketing and retailing in the private sector and a variety of posts in the government sector including the Bank of England.


 

AQA Specification

Candidates should have achieved the minimum of grade B at GCSE in both English and Mathematics. GCSE Economics is not offered lower down the school.

The course consists of two main areas: –

  1. Microeconomics, concerned with individual consumers and firms. Issues covered include how consumers make choices, how firms make business decisions, the economic causes and consequences of environmental pollution, powerful monopoly firms, unequal income distribution and the study of alternative economic systems.
  2. Macroeconomics, concerned with issues affecting the entire economy. These include inflation, unemployment, economic growth, the exchange rate, the balance of payments and the UK’s role in the European Union, the impact of globalisation and its consequences for the UK economy & the use of different economic policies to achieve macroeconomic objectives is also considered.

You will study interesting subjects such as the role of financial markets in the last credit crunch as well as new developments in Economics such as behavioural economics & the power of ‘Nudge’ it getting people to behave in a way which is better for society.

 

Assessments

The aim of the course is to develop students’ understanding and ability to apply economic concepts and theories. They will do this through a critical consideration of current economic issues, problems and institutions that affect everyday life. To this end it is essential for students to access information from many sources, such as newspapers, television programmes and the Internet. This will support the theoretical discipline of the subject and make it more relevant. Students will be expected to organise and present ideas in a logical essay style, to develop their problem solving skills and to interpret statistics and data wherever appropriate.

There will be no official AS exams but these topics will be examined internally at the end of the year.


 

Key Stage 5 – AS Level Economics

There will be no official AS exams but you can say that these topics will be examined internally at the end of the year.

 


 

Key Stage 5 – A Level Economics

Unit Nature of Examination Time % of A Level
Paper 1 Markets & Market Failure
Written examination
Section A: data response questions, choice of one form two contexts worth     – 40 Marks
Section B:essay question, choice of one from three – 40 Marks
2 Hours 33.3%
Paper 2 National & International Economy
Written examination
Section A: data response questions, choice of one form two contexts worth – 40 Marks
Section B:essay question, choice of one from three – 40 Marks
2 hours 33.3%
Paper 3 Economic Principles & Issues
Section A:multiple choice questions 30Marks
Section B:case study questions requiring written answers – 50 Marks
2 Hours 33.3%