Economics
faqs
How is the course assessed?
The course is assessed through external examinations. There is no coursework. There are three exams at the end of the 2nd year.
How much support will I receive?
You will have 5 hours per week of timetabled lessons, dedicated PPT handouts that explain each concept in detail, the opportunity to loan a highly effective revision guide, have the opportunity to ask questions during lessons and be shown online resources that can support you outside lessons. In addition there is a strong emphasis on exam practice and essay structure from early on in the course.
Do I have to write essays?
Yes. The course is designed to develop your ability to evaluate and judge economic policy used by government and therefore it is imperative that you are able to write at length with sophistication and fluency. Essay writing is a critical skill on this course and you must have a grade 6 in English Language. You will be shown exam and essay technique and have many opportunities to practice this critical skill.
Context:
Economics is all about our struggle to achieve happiness in a world full of constraints. Too little time and money is available to do everything people want. However, people are clever, they tinker and invent, ponder and innovate. They look at what they have and what they can do with it and take steps to make sure that if they can’t have everything they at least have as much as possible. Trade-offs are key because, you can’t have everything, you have to make choices and this is a fundamental part of everyday life. The science that studies how people choose – economics – is indispensable. You will look at the fundamental forces which affect our lives such as employment, prices, international trade and poverty. You will focus on both Microeconomics and Macroeconomics. Microeconomics addresses issues such as “What will I do with my money?” and “What will I do with my time?”. Macroeconomics addresses issues such as “Why are house prices so high?”, “What happens if people decide to spend more?”, “Why are footballers paid so much and nurses so little?”, “How are we affected by Indian and Chinese economies?”. If you are curious about everything that happens around you then studying economics will satisfy the curiosity.
Exam Board:
Edexcel
Assessment:
3 Examination papers covering:
A Level Paper 1: Microeconomics (Markets and business behaviour)
A Level Paper 2: Macroeconomics (The national and global economy)
A Level Paper 3: Microeconomics and macroeconomics (Assesses all the content)
Course Details:
Year 1
- Microeconomic Theory
- How competitive markets work
- Market failures and government intervention
- Macroeconomy functions on a domestic and global level
- Policy approaches
- Macroeconomic equilibrium
Year 2
- Microeconomic Theory
- Market structures
- The labour market
- Global economics
- Growth and development
- Policies used by government
- Financial markets
Other Learning Opportunities:
Students will be expected to read the Economist and experience opportunities for extended wider reading, participate in debates on how best to solve problems in society and undertake group assignments.
Where next with this course?
A level Economics is a versatile subject that can help you in a number of careers. It can lead to further study of the subject or onto an Advanced or Higher Apprenticeship. You will be well equipped as you will have developed analytical and problem solving skills, numerical and computer skills as well as the ability to work well either alone or within a team. All of these skills are transferable allowing students to branch into anything from investment banking and financial services, business and public-sector management and research, to working with charities, teaching or the media. There is little restriction on what students can do afterwards and of course there is money. Economic graduates typically earn the highest average income of all degree subjects.