Economics gives provides a real insight into the way in which the world works. Current issues in the news are therefore a key component of this Economics course. The qualification considers Microeconomics and Macroeconomics.
Microeconomics is the branch of economics concerned with the study of the behaviour of consumers and organisation. In addition to this, microeconomics investigates how scarce economic resources are allocated and how competitive markets work (supply and demand) and market failure and government intervention.
Macroeconomics looks at how the economy as a whole operates. This involves studying economic development, income distribution and welfare and globalisation. Students who undertake this course can enhance their skills of analysis and critical evaluation, and develop the confidence to cultivate their own views and perspectives on the world.
A keen interest and good understanding of Mathematics to Level 2 are essential for success, as you will further develop analytical, numerical and problem solving skills, which will support a career within lots of other professions.
The study of Business (Level 2 or Level 3) or Economics (Level 2) is helpful, but not essential. An interest in national and worldwide news and affairs would benefit students studying this this course.
Unit 1 - Introduction to Markets and Market Failure
Unit 2 - The UK Economy-Performance and Policies
Unit 3 - Business Behaviour and the Labour Market
Unit 4 - A Global Perspective
Grade 5 in GCSE English and GCSE Maths
Studying A Level Economics can lead to careers in law, economics, business, management, marketing, accounting, finance and banking.