A Level Economics

Name of course

A level Economics

Examining board

AQA (7163)

Link to specification

More information about the course can be found from the exam board website here

Course Entry Requirements

To study Economics you must have a Grade 6 or higher in GCSE English Language

Why Economics?

A-level Economics will give you an excellent understanding of how economies allocate their scarce resources to meet the needs and wants of their citizens. You will develop a greater understanding of the economic problems which face individuals, firms and governments on a local, national and global level and the alternative ways these problems can be resolved. You will investigate microeconomic topics such as how individual decisions impact economic outcomes, the importance of competition, how markets operate and why they fail and how the distribution of income and wealth is affected. At the same time you will learn about macroeconomics, looking at the ‘big picture’ of how our national economy fits into the global context, the global impact of financial markets and monetary policy and the operation of the international economy.

Course Content

A-level Economics content

Over this two year course, you will study areas and topics drawn from both micro and

macroeconomics.

Microeconomics:

• the economic problem and economic methodology

• individual economic decision making

• price determination in a competitive market

• production, costs and revenue

• perfect competition, imperfectly competitive markets and monopoly

• the labour market

• the distribution of income and wealth: poverty and inequality

• the market mechanism, market failure and government intervention in markets.

Macroeconomics:

• the measurement of macroeconomic performance

• how the macroeconomy works

• economic performance

• financial markets and monetary policy

• fiscal policy and supply-side policies

• the international economy.

Assessment

A-level assessment

At the end of the two year course, you will sit three two hour written exams – each exam will be worth

one third of the A-level. Paper one will cover markets and market failure, paper two will cover the

national and international economy and paper three will draw on material from the whole course.

The papers will feature a range of question styles including:

• multiple choice questions

• short answer questions

• essay questions

• data response questions

• case studies.

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. An A-level in Economics will benefit you if you are looking to go on to study economics, business or finance at university. The skills you acquire will help you no matter what degree course you choose. Alternatively, you may decide to follow a career path which isn’t directly related to your course of study. The analytical and evaluation skills that you will have developed will be useful whatever path you choose in the future.

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? Use websites such as Tutor2u or bbc news.

What students say about studying Economics

“I think studying economics is essential because it helps you understand how the world we live in is structured. Economics sheds light on how and why resources are distributed the way they are, how money works, why things cost what they do, etc. If you are going to exist in this world, it's a pretty good idea to have at least a basic grasp of this important discipline!”

“Studying economics in the sixth form stretches your mind and forces you to think laterally about a range of interesting and topical problems.”

“Studying economics in the sixth form gives you a powerful insight into the fundamental mechanisms upon which the world operates.”

“Studying economics in the sixth form will not only ensure you stay up-to-date with current affairs; you will also develop the facilities to critically analyse a range of issues in finance, business and politics.”