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Economics

A Level - Full-time
Economics
Subject Area: Business & Industry
Assessment: Exam
Location: Woldgate
Course Entry Requirements Icon Entry Requirements:

The course does contain mathematical content and therefore students opting to study this subject, should have achieved a Grade 5/6 or above in GCSE Mathematics. Many students choose to go on to study Joint Honour degrees in Economics at University, however most universities will only allow students to study pure Economics if they have also been successful in completing A Level Mathematics.

The United Kingdom and indeed the Rest Of the World, is entering into an unprecedented economic phase, some analysts are comparing it to the Global Financial Crisis of 2008 whilst others are using a wartime analogy to emphasise the sheer magnitude and scale of the problem. Whilst neither seem to be quite appropriate, we can be sure of one thing, a very uncertain future. Studying A Level Economics in this turbulent period, is going to be enlightening, educational and extremely applicable to all of our lives, we are therefore very excited to be offering
this option.

Additional Course Information

What will I study and learn?

The course content is divided into two parts. The first section introduces students to microeconomics, the study of economics at an individual, group or company level with the second section covering macroeconomics, the study of a national economy as a whole.

Students will study 14 topics over the course of two years:

Microeconomics – Individuals, firms, markets and market failure

  • Economic methodology and the economic problem
  • 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 national and international economy

  • The measurement of macroeconomic performance
  • How the macroeconomy works: the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Financial markets and monetary policy
  • Fiscal policy and supply-side policies
  • The international economy
How will I be assessed?

Assessment is via three, two-hour external examinations taken at the end of Year 13.

The question types vary across the papers, and include data response, case studies, multiple choice and essays.

Paper 1 – Markets and Market Failure

  • 2 hour examination

Paper 2 – National and International Economy

  • 2 hour examination

Paper 3 – Economic Principles and Issues

  • 2 hour examination
Further Opportunities

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 gained from the course will be relevant regardless of the degree course you choose.

If you are wishing to pursue a career in fields such as banking or finance, this course is a great start by giving you an insight and understanding of the economic forces that impact your day to day activities. Other careers include economist, chartered accountants, investment analyst, management consultant, civil servant and more.

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