Economics
- LEVEL
- ASSESSOR
- ASSESSMENT
- ENTRY REQUIREMENTS
- AT LEAST 5 GCSES GRADED 4-9 INCLUDING
What is Economics?
The world of economics touches every person’s life on a daily basis. Learn how humans use scarce resources to satisfy their own needs and wants.
Microeconomics is a complex and fascinating subject. It provides insights into how the economy works and the choices that individuals and firms make, and how these choices interact to determine prices, quantities, and the allocation of scarce resources. Topical areas include the housing market, the NHS, the digital economy, the gig economy and the cost of living crisis.
Macroeconomics looks at the performance and behaviour of an economy as a whole, rather than as individual people, markets or businesses, exploring themes such as the causes of inequality, unemployment, inflation and economic growth. You will also study global economics and the causes of different levels of economic development between countries.
Why study Economics?
Economics trains you to think through problems in a rational and logical manner. The subject provides you with skills that can be utilised to better understand all manner of global problems, from tackling poverty and inequality to managing climate change and effecting more sustainable development while maintaining natural resource security.
Economics will help you understand most of the important news stories around the world and from this, you learn to analyse reasons for choices that individuals make and evaluate the consequences of these decisions. You will also learn how to interpret a wide variety of data and use this to make judgements, both on the effectiveness of economic models and theories as well as economic policies undertaken by different countries.
Economics is a versatile subject and provides many university options. either as a standalone degree (Maths A-Level is often required for these courses) or together with subjects such as Business, Politics, Philosophy, Psychology or an MFL.
As economics is a study of the real world and individuals’ behaviour, the course may also complement other A-Level subjects, especially business, geography, maths, sociology, psychology and politics.
HEAR FROM OUR STUDENTS
EconomicsCourse Content
Use economic theory to support the analysis of current economic problems and issues, and to understand the inter-relationships between microeconomics and macroeconomics.
Year 12
Theme 1: Introduction to markets and market failure
- The nature of economics
- How markets work
- Market failure
- Government Intervention
Theme 2: The UK economy, performance and policies
- Measures of economic performance
- Aggregate Demand
- Aggregate Supply
- National income
- Economic growth
- Macroeconomic objectives and policies
Year 13
Theme 3: Business behaviour and the labour market
- Business growth
- Business objectives
- Revenue, costs and profits
- Market structure
- The labour market
- Government intervention in product markets
Theme 4: A global perspective
- International Economics
- Poverty and inequality
- Emerging and developing economies
- The financial sector
- The role of state in the macroeconomy
| PAPER 1Markets and business behaviour | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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CONTENT |
Themes 1 and 3 |
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WEIGHT |
35% (100 Marks) |
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LENGTH |
2 Hours |
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Section A comprises a range of multiple-choice and short-answer questions. (25 marks)
Section B comprises one data response question broken down into a number of parts. (50 marks)
Section C comprises a choice of extended open-response questions; students select one from a choice of two. (25 marks)
| PAPER 2The national and global economy | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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CONTENT |
Themes 2 and 4 |
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WEIGHT |
35% (100 Marks) |
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LENGTH |
2 Hours |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Section A comprises a range of multiple-choice and short-answer questions. (25 marks)
Section B comprises one data response question broken down into a number of parts. (50 marks)
Section C comprises a choice of extended open-response questions; students select one from a choice of two. (25 marks)
| PAPER 3Microeconomics and macroeconomics | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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CONTENT |
Themes 1, 2, 3 and 4 |
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WEIGHT |
30% (100 Marks) |
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LENGTH |
2 Hours |
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The paper comprises two sections.
Each section comprises one data response question broken down into a number of parts, including a choice of extended open-response questions;
students select one from a choice of two. (50 marks per section)
MR J Carroll
SUBJECT LEADER FOR ECONOMICS
This course is excellent at developing transferrable skills and is highly desirable to employers. We hope to welcome you as an economics student in the future.
If you have any questions in the meantime, please feel free to contact me.
Start Your Economics Journey
