A level Economics

Economics

Why should I study Economics?
People, businesses and government s are constantly making economic decisions which affect all our living standards. Government chooses whether to spend more on areas like education, defence, health and housing. Economics explains how such decisions are made and how problems like unemployment and inflation may arise and be solved. It is a rewarding, interesting and respected subject which focuses on current issues like the environment and will appeal to anyone interested in the welfare of their own society.

What will I study?
AS Units
Unit 1:

Markets in Action

• The reasons for individuals, organisations and societies having to make choices
• Competitive markets and how they work
• Market failure and government intervention

Unit 2:

The National and International Economy

• Aggregate demand and aggregate supply and their interaction
• Government economic policy objectives and indicators of national economic performance
• The application of macroeconomic policy instruments and the international economy

A2 Units
Unit 1:
Economics of Work and Leisure

• Nature of work and leisure and trends in employment and earnings
• Market structures and competitive behaviour in leisure markets
• Labour demand, supply and wage determination
• Market failure and the role of the Government and unions in the labour market

Unit 2:
The Global Economy

• Macroeconomic performance
• Trade and integration
• Development and sustainability
• The economics of globalisation

What skills do I need?
There is no need to have studied Economics at GCSE. Whilst there are many numerical aspects to the course, only a basic level of mathematics is required. Skills required include:

• Analysis and evaluation of simple text and numerical data
• An ability to write structured responses when needed
• A willingness to develop arguments in discussion and on paper.
  

How will I be taught?
Economics will be taught using a variety of methods. Each unit will be based on a task-oriented workbook but there will be opportunities for group work, discussions and individual research.

How is the course assessed?
Each unit is assessed by means of exam with no coursework.

At AS you will answer a combination of stimulus response and other structured questions in examinations.

At A2 there is a broader mix of questions but with more emphasis placed on essay writing.

What will this course prepare me for?
Progression to study a wide range of subjects and to enter a variety of careers. These include economics, business management, sales and marketing, media and journalism, law, teaching, information services, computing and history.

Private Study
As an approximate guideline AS subjects require 3-4 hrs of independent study each; A2 subjects 4-5 hrs each and GCSE subjects 2 hrs each.

What materials will I need to purchase?
Not applicable