Do you want to explore the relationship between an individual’s decisions and local economics? Or consider how economic policy makers can affect change on the national or global stage? You will find out about the terms, concepts, theories and models in both micro and macro Economics and learn how to evaluate the effects of economic agents for yourself. You will learn about markets and how they fail as well as studying both national and international economies including topics such as, competition; monopolies; the labour market; fiscal policy, government intervention, inequality and poverty and much more.
What you will study
Individuals, firms, markets and market failure.
This area of study covers topics like: individual economic decision making; production, costs and revenue; perfect competition, imperfectly competitive markets and monopoly; the labour market; the distribution of income and wealth: poverty and inequality; and the market mechanism, market failure and government intervention in markets.
The national and international economy.
This area of study covers topics like: 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; fiscalpolicy and supply-side policies; and the international economy.
This course is examined by written external exams, set and marked by the exam board.
To pass the full A Level you will sit three 2-hour exams at the end of the 2nd year
Paper 1: assessment on markets and market failure. You answer two long questions; one from each section. In section A, you can choose one context from a choice of two, and in section B one context from a choice of three.
Paper 2: assessment on national and international economy – again, you answer two long questions; one from each section. In sections A, you can choose one context from a choice of two, and in section B one context from a choice of three.
Paper 3: assessment of economic principles and issues. Section A is multiple choice and section B has extended writing questions.
5 GCSEs 9-4, including English Language at grade 5 and maths at grade 6.
The majority of students progress to Degree level of study at university. This may be a degree in Economics itself or a related discipline.
An A level in Economics can lead to a variety of careers including banking, accountancy, tax advice, actuarial work, insurance, investment analyst, personal financial advisor, statistician and, of course, an economist.