Economics (GCE A Level)

Why Study Economics?

Economics enables students to use economic models to help them understand the complexities of the world around them. Students also use data to help them analyse markets and economies, and how governments try to influence both. Students are introduced to different perspectives, aspects of economic history and develop an understanding of economic issues. Economics includes topics such as economic growth, poverty and inequality, market structures and the labour market.

Economics specification A enables students to use economic models to help them understand the complexities of the world around them.

Theme 1: Introduction to markets and market failure

a) The nature of economics

b) How markets work

c) Market failure

d) Government intervention

Theme 2: The UK Economy – performance and policies

a) Measures of economic performance

b) Aggregate demand

c) Aggregate supply

d) National income

e) Economic growth

f) Macroeconomic objectives and policy

Theme 3: Business behaviour and the labour market

a) Business growth

b) Business objectives

c) Revenues, costs and profits

d) Market structures

e) The labour market

f) Government intervention

Theme 4: A global perspective

a) International economics

b) Poverty and inequality

c) Emerging and developing economies

d) The financial sector

e) Role of the state in the macroeconomy

Assessment is by 3 x 2 hours written exam papers that will be sat at the end of the course. The A level papers will assess the AS and A Level content.

Paper 1: Markets and business behaviour – assesses Theme 1 and Theme 3 content. It will consist of a range of multiple choice questions, short answer questions and a data response questions broken down into a number of parts with a choice of extended open response questions.

Paper 2: The national and global economy – assesses Theme 2 and Theme 4 content. It will consist of a range of multiple choice questions, short answer questions and a data response questions broken down into a number of parts with a choice of extended open response questions.

Paper 3: Microeconomics and macroeconomics – assesses content from across all themes. It will consist of a range of multiple choice questions, short answer questions and a data response questions broken down into a number of parts with a choice of extended open response questions.