Economics (A Level)

Why study Economics?

Economics is a thought-provoking and evolving subject. It is always in the news, unearthing new problems and proposing new remedies. Economics explains so much of what happens in the real world – why are some commodities more expensive than others, and why do some people earn so much? It looks at the role of governments – how involved should they be in what we buy or how much we earn? Economics explains how markets work – invaluable knowledge if you are looking to pursue a career in buying or selling, financial management or policy making.

Entry Requirements

In addition to our general entry requirements, you must have:

• GCSE English – grade 4
• GCSE Maths – grade 4

No previous knowledge of Economics is required. You will be required to attend a transition day in the summer term and complete work over the summer to hand in at enrolment. Without this, you may not be able to take your place on the course.

The Course

Economics looks at the national and world economy from a range of perspectives – consumers, businesses and government. It examines how markets allocate resources, and how government modifies and corrects market forces in a range of areas, e.g. the minimum wage or single-use plastic.

Course Activities

You will be introduced to the underlying theories of Economics and be expected to apply them to various real world situations. In addition to acquiring a sound knowledge and understanding of the subject matter, you also need to develop your powers of logical analysis and evaluation. Many economic problems present different possible solutions and you will need to weigh up the
alternatives, form your own opinion and argue your case both in class and on paper. To be successful, you will have to read widely and keep up to date with current affairs. The statistical and data handling aspects of the work require a competent performance at GCSE Maths. We will use a variety of activities including case studies, discussions, reading and individual
research. Work will be text, number and graph-based.

Career and Progression Opportunities

Studying Economics will help you develop transferable skills that will prepare you for university or the world of work. These include skills in data interpretation, essay writing and commercial awareness.
You could go on to study Environmental Economics, Labour Economics, Business Economics (for some Economics degrees you will be expected to have a Maths A Level), or other degree pathways such as International Business, Business & Management, Accounting, History, Geography or Politics.
Economics graduates can follow a wide range of careers in industry, commerce and finance.

Course Structure and Assessment

This two-year A Level course is structured into four themes and consists of three externally examined papers. Students build knowledge and understanding of core economic models and concepts in Themes 1 and 2, then apply this knowledge to more complex concepts and models in Themes 3 and 4.

There will be three exams at the end of the two year course. Each will be a mixture of short answer questions, including multiple choice, data response and essays.

• Paper 1 Markets and Business Behaviour - will assess microeconomics and questions will be drawn from Themes 1 and 3
• Paper 2 The National and Global Economy - will assess macroeconomics and questions will be drawn from Themes 2 and 4
• Paper 3 Will assess content across all four themes. Students are required to apply their knowledge and understanding,
  make connections and transfer higher-order skills across all four themes. 

Additional Information

Successful students will be independent learners and able to manage a large course content over the two-year course. We expect our students to put in at least 4 hours per week of study outside of lessons in the first year, rising in the second year to at least 6 hours per week.

Is Economics for me? Yes, if you enjoy:

• debating economic issues such as inequality, immigration and how we should pay for healthcare
• using and interpreting data to analyse economic problems
• discussing alternative courses of action
• keeping up to date with national and international trends

How do I find out more? You can find out more about studying Economics by:

• Visiting the Edexcel website to find out more about A level Economics A
• Search online for Economics courses at university to find out more about where an A level in Economics can take you
• Find out what is happening in the world economy by watching relevant news programmes and reading business news

Examination Board: Edexcel Economics Specification A

Case Study