ECONOMICS

LEVEL: 3 A LEVEL
EXAMINING BOARD: AQA
TYPE OF STUDY: FULL-TIME, SIXTH FORM STUDY PROGRAMME
PASS RATE: 100% IN 2018

Economics relates to every aspect of our lives, from the daily decisions we make ourselves to those made my global organisations. 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.

Issues that we will discuss include:

  • Should the UK rail industry be nationalised?
  • How can we nudge social behaviours to tackle climate change?
  • Which policies are effective in curbing the plastic pollution crisis?
  • Is the sugar tax an effective way to tackle the social costs of obesity?

You will develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. On this course you will develop a range of transferable skills such as numeracy skills and decision making as well as written and oral communication skills. You will be expected to write extended essays, to understand and draw economic diagrams and to use economic formulae.

Economics is examined at the end of year 2 by three two-hour exams. The examination has a variety of assessment styles including real-life case studies and data exercises to better prepare students for further study and employment.

Past students have continued to study at prestigious universities, both in the UK and abroad, including London School of Economics (LSE), Oxford, Cambridge, Hong Kong and Rotterdam. In addition past students have progressed onto Higher Level Apprenticeships including British Telecom and Ernst & Young.

Potential careers include Economist, Accountant, Statistician, Investor Analyst, Management Consultant, Diplomatic Services, Civil Service and Politician.

“I thought before I took this course that Economics was all about numbers, but it is so much more than that. My other A Levels are Geography and Maths which all go together really well; I’m always noticing links between my 3 choices.”

Economics A Level Student

In Year 1 you will cover the following topics:

Micro: The Operation of Markets and Market Failure

  • Economic methodology and the economic problem
  • Price determination in a competitive market
  • Production, costs and revenue
  • Competitive and concentrated markets
  • The market mechanism, market failure and government intervention in markets

Macro: The National Economy in a Global Context

  • The measurement of macroeconomic performance
  • How the macro-economy works: the circular flow of income, AD/AS analysis and related concepts
  • Economic performance
  • Macroeconomic policy

In Year 2 you will cover the following topics:

Micro: 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
  • Perfect competition, imperfectly competitive markets and monopoly
  • The labour market
  • The distribution of income and wealth: poverty and inequality
  • The market mechanism, market failure and government intervention in markets

 Macro: The National and International Economy

  • The measurement of macroeconomic performance
  • How the macro-economy 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

5 GCSEs at grade 4 or above including English Language. A grade 6 is required in Mathematics.

Can I study Economics and Business A Level?

Yes, it is possible to study both of these subjects, although you should be aware that a few universities would see this as too narrow and may not give you an offer.

Do I have to study A Level Mathematics to study Economics?

No you don’t have to take A Level Mathematics alongside Economics, although it can be advantageous. It might be worth considering Core Maths (AS) to support you.

Will I have to write essays in Economics?

Yes, the assessment of Economics is heavily focussed on essays and hence throughout the course you will be developing your essay writing skills.