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ECONOMICS

LEVEL 3:  A LEVEL
EXAMINING BOARD: AQA

It is an exciting time to study Economics, whether you are concerned about the global pandemic or global warming, the study of economics is becoming increasingly important as we consider the impact our choices have on each other and the environment. This course is developed with up-to-date content so you can relate what you are learning to the world around you locally, nationally and globally.

We will discuss current issues such as;

  • What explains the stark and persistent divide between rich and poor?
  • How can we nudge social behaviour to tackle climate change?
  • Which policies are effective in curbing the plastic pollution crisis?
  • The sugar tax – is it an effective way to tackle the social costs of obesity?
  • Who are the winners and losers from trade wars?
  • What is the future of work in a world of artificial intelligence?

Economics will give you an excellent understanding of how economies allocate their scarce resources to meet the needs and wants of individuals.

You will investigate microeconomic topics such as how individual decisions impact economic outcomes, the importance of competition, why markets fail and how the distribution of income and wealth is affected. At the same time, you will learn about macroeconomics, looking at the ‘big picture’ of how our national economy fits into the global context and the impact of government policy on firms and individuals.

Through studying Economics you will develop a wide range of skills, including the ability to analyse qualitative and quantitative data, think critically and make informed decisions. You will also have the opportunity to be involved in The Investor Challenge, a national competition in which students invest in the stock market.

 

On this course you will study the following topics:

Individuals, firms, markets and market failure

  • Economic methodology and the economic problem
  • Individual economic decision making
  • Price determination in a competitive market
  • Production, costs and revenue
  • The labour market
  • Perfect competition, imperfectly competitive markets and monopoly
  • The distribution of income and wealth: poverty and inequality
  • The market mechanism, market failure and government intervention in markets

The national and international economy

  • 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
  • Fiscal policy and supply-side policies
  • The international economy

You will need (or equivalent to);

  • GCSE Mathematics grade 4/C or above
  • GCSE English Language or Literature grade 4/C or above
  • plus three more GCSEs grade 4/C or above.

It is recommended you have:

  • GCSE Mathematics grade 6/B or above.

There are three written exams, each are two hours in duration.

Each paper includes data response and essay questions.

Many previous students have gone on to study Economics at degree level.

Others have studied degrees such as Management, Engineering, Business, Computer Science and Geography.

Another popular route has been Apprenticeships with organisations such as IBM and Ernst & Young.

Can I study Economics and Business?

Yes, you can. There is some overlap between Economics and Business but generally they are stand-alone subjects. Business will analyse problems from a Manager’s perspective within specific business settings, whereas Economics considers the whole economy.

Do I need to study A level Mathematics in order to study Economics?

You do not need to study Mathematics however if you are thinking of studying Economics at university then most courses require a Mathematics A Level. A good standard of numeracy is required to be successful in Economics.

“A Level Economics looks at a wide range of topics that are relevant to everyday life, giving you an insight into important issues in the economy. Lessons are very interactive, where you will always be involved in class discussions and there is endless support from the teacher. Economics involves essays based on real world topics, which makes exams more interesting.”.