A Level Economics

Name of course

A level Economics

Examining board

Link to specification

Edexcel (A Level:9EC0)

https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html

Course Entry Requirements

Level 5 in GCSE English Language or Literature

Why Economics?

 

Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources.  Economics is all around us, present in almost every aspect of our lives. Studying the subject gives students an understanding of the world we live in and its inner workings. Students learn everything from what determines the price of goods and services to why the average standards of living vary so widely within and between countries.  The study of economics can also provide valuable knowledge for making decisions in everyday life. It offers a tool with which to approach questions such as the benefits and costs of alternative careers, and the likely impacts of public policies including universal health care or a higher minimum wage.

Course Content

 

 

Assessment is externally assessed with three two hour examinations at the end of the second year.

The A Level course consists of 4 themes.

Theme 1 - Introduction to markets and market failure

This theme focuses on microeconomic concepts. Students will develop an understanding of:

  •  nature of economics
  • how markets work
  •  market failure
  •  Government intervention.

Theme 2 – Managing the Economy

This theme focuses on macroeconomic concepts. Students will develop an

understanding of:

  •  measures of economic performance
  •  aggregate demand
  •  aggregate supply
  •  national income
  •  economic growth
  •  macroeconomic objectives and policy.

 

Theme 3 - Business behaviour and the labour market

This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of:

  •  business growth
  •  business objectives
  •  revenues, costs and profits
  •  market structures
  • labour market
  •  Government intervention.

Theme 4 - A global perspective

This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of:

  •  international economics
  •  poverty and inequality
  •  emerging and developing economies
  •  the financial sector
  •  role of the state in the macroeconomy.

 

Where could this course lead to?

 

An economics qualification is very useful for any career in banking, accounting, actuary work, finance, politics or providing economic advice to private companies and the public sector.   Research shows the ten years after their degree Economic graduates had the second best pay of all graduates.

Suggested Reading and resources

 

 

Watch the news and read the papers.  Find out what is going on in the world of business, economics and politics.  What are the politicians and the media saying about the UK and world economy? What is happening to the value of the pound, or to unemployment, or developments in the UK’s trade deals with Europe or the rest of the world?

What our students say about studying Economics

 

‘You can really apply what you learn to the real world!  It helps you understand what you see on the news so much better!’

‘It complements other subjects such as Geography, Politics, and History really well!’

‘It offers the development of a really broad and balanced range of numerical and written skills!’