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A-Level Economics

Awarding Body

Course Code

Head of Department

Email

AQA

7136 Mr Herman Virk virk-h@beaconsfieldhigh.bucks.sch.uk

Why study this course?

What skills does it develop?

Economics is the study of how governments, businesses and individuals allocate their scarce resources. There are many reasons to study economics- from the huge range of skills you gain, to the exciting types of employment you will be geared for.  It is worth noting that salaries for economics graduates are among the highest of any discipline.

What careers might it lead to?

Government and Public Administration, Banking, Accountancy, Business Management, etc.  Economics is a rigorous discipline and can therefore also be used to gain entry to such degree courses as Law.  It is accepted by Oxford and Cambridge universities as an entry requirement to degree courses.

What level of prior knowledge, attainment and skills are required?

What are the entry requirements?

GCSE Grade 6 in Mathematics and English.

Who would it suit?

Students who are interested in what is going on in the world and want to gain skills in understanding complex arguments, analysing data, and being able to communicate effectively.

What subjects might it combine with/lead to?

To study Economics at university you should combine it with Mathematics GCE.  Other good combination choices include History, Geography and Politics.

What does the course cover and how is it structured?

Component 1: Markets and market failure

  • Scarcity and choice, how competitive markets work, Competition and market power, Labour market, Market failure and government intervention.

Component 2: National and international economy

  • Economic policy objectives and indicators of macroeconomic performance, Aggregate demand and aggregate supply, the application of policy instruments (monetary, fiscal & supply-side policies), The global context, The financial sector.

Component 3: Economic principles and issues

This component will be fully synoptic in nature, drawing on all material studied for components 1 and 2 over the 2 years.  Students will be required to apply their understanding of microeconomics and macroeconomics to a range of data and articles.

How is the course assessed?

What examination modules/papers are there?

Paper 1                 Markets and market failure                        2 hours                         33.3%

Paper 2                 National and international economy        2 hours                         33.3%

Paper 3                 Economic principles and issues                  2 hours                         33.3%

How can families help?

The study of Economics requires knowledge or recent economic events in the UK and elsewhere, and students will be expected to show familiarity with ‘recent historical data’ – broadly defined as the last 15 years.  Parents can help by discussing economic developments so that students have plenty of practice in applying the economic theory to explain items and data that appear in the newspapers and on the television. We encourage students to subscribe to The Economist which offers a heavily discounted subscription rate to us through school.