Economics

Why study Economics?

The course aims to:

  • Those taking the course learn to apply economic concepts and theories in a range of contexts, and to appreciate their value and limitations in explaining real world phenomena.
  • Both courses start with an evaluation of the strengths and weaknesses of the market economy and the role of the government within it, and an understanding of the British economy.
  • The subject helps pupils to develop clear and logical thinking and an analytical approach to problem-solving, and also to look for the wider implications of any event.

It is a highly recognised qualification by employers and universities. No prior knowledge of Economics is required.

Exam

What will I study?

This course is designed for students with an interest in current affairs. You will study current economic issues as reported in the news such as taxation, unemployment, inflation, international trade, the EU and how the Government manages the country’s economy.

The course will focus on:

  • Competitive markets – how they work and why they fail.
  • How economies are managed.
  • Business economics and economic efficiency.
  • Global economy and international trade.
  • Financial markets and monetary policy
  • Fiscal policy and supply-side policies
  • Global economy and international trade.

The distribution of income and wealth: poverty and inequality

How will I study?

Assessment is by examination at the end of three years. This will comprise of three papers. The final A’ Level course consists of three papers that are assessed as follows:

The exam content for paper 1

Is based on the operation of markets and market failure.

The exam content for paper 2

Focuses on the national and international economy.

Both papers 1 and 2 include data response questions and an essay question from a choice of three Paper 3 is a synoptic paper and draws upon all the content that has been learnt. The exam consists of 30 multiple choice questions and a case study questions requiring written answers.

On the course you will:

  • develop projects
  • make presentations
  • discuss current events

 

What do I need to start the course?

Five grade C’s or above at GCSE. Although we do not specifically require a grade C in GCSE mathematics, you need to be confident with your numerical skills.

 

Useful websites:

Where could it lead?

You could progress onto a BA Hons degree in Economics, Finance, Business Studies, Marketing or Business Management. Following this you could enter employment in a business or civil service environment in a senior administrative role. Jobs include working in the civil service, local government, banking, insurance, accountancy and management. The list does not end here and Economists are found in many other manufacturing and service industries.

 

Economics, lying as it does between the Arts and the Sciences is a suitable subject to complement either group. Combined with subjects such as Mathematics and Physics it can widen opportunities to include Management options. Similarly, with Modern Foreign Languages it provides an excellent base for those looking to work abroad or in a company with overseas links.