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A-Level

Economics

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Economics is the study of choice and decision-making in a world with limited resources. It examines how societies allocate scarce resources to meet the needs and wants of their citizens.

Exam Board

AQA

Entry Requirements

GCSE grade 6 in GCSE English language or English literature and a GCSE grade 5 maths.

Assessment

  • 100% Exams
An introduction to Economics Presentation About this course Pathways Information

What is economics?

Economics is the study of allocating scarce resources to satisfy unlimited wants. How this occurs is studied from an individual, firm and national perspective. The course covers micro and macroeconomics.

 

What will I study?

You will investigate both micro and macro-economic topics during the two years.

Microeconomics is the study of the decisions of buyers and sellers and the interaction of these decisions in markets. The context for these studies is provided by a range of markets, such as transport, healthcare, education and housing. The goal of microeconomics is to explain the prices and quantities of individual goods and services.

Macroeconomics studies how the national economy works and how governments might seek to change outcomes. Inflation, unemployment, balance of payments, economic growth and policies (fiscal/monetary/supply side) are all major topic areas that you will study. The goal of macroeconomics is to explain average prices and total employment, income and production.

In the summer term of year 1, there will be an internal exam to assess both the micro and macro components: “The operation of markets and market failure” and “The national economy”. You will have developed skills relating to: graphs, calculations, multiple choice and longer written answer styles.

At the end of the two years, you will sit the A level examinations. These consist of three papers of equal weighting: 1. Markets and Market Failure; 2. National and International Economy and 3. Economic principles and issues. Papers 1 and 2 consist of a 2 hour paper with an essay and a data response question. Paper 3 is a synoptic, and consists of 30 multiple choice questions and a case study.

 

Trips, visits and enrichments:

  • University masterclasses
  • Bank of England trip
  • New York and Washington trip

 

What can it lead to?

Many students go on to study economics at university as it is a highly regarded degree choice and provides opportunities for careers within government, banking, accountancy, management and investment.

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