Economics is not simply all about numbers. It is the study of the world around us from a social, financial and cultural perspective, gaining an understanding of economic theories and interrelationships between macro and micro economic issues.
Subject Information
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 Details
You will study topics from both microeconomics 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, 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
At the end of the 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 and questions based on real-world case studies.
A Level Economists will be supported to enter a range of national competitions including those offered by the Royal Economics Society, The Financial Times and The London School of Economics. They will also participate in the Student Investor Challenge to run the British economy and undertake challenges set by the International Economics Olympiad. You will have free access to The Economist magazine to support you with wider reading.
Subject Specific Entry Requirements
- Grade 6 in GCSE Maths.
- Grade 6 in GCSE Geography or History.
Where could Economics take me?
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.
You may choose to pursue a career in a directly related field such as banking or finance. The A-level course in Economics will stand you in good stead by giving you an insight and understanding of the economic forces that impact your day to day activities. 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.
