AS/A2 Economics

AS/A2 Economics
The course is designed to enable you to:
Develop an understanding of economic concepts and theories through a consideration of current economic issues and problems that affect everyday life
Apply economic concepts and theories in a wide range of contexts and to study their limitations in explaining real-world issues.
Analyse microeconomic and macroeconomic situations and evaluate proposals to deal with economic dilemmas and choices
Be able to relate economic theory to the everyday world around us and try to solve economic problems.
Is it for me?
The course suits those who enjoy reading about current affairs and who want to understand how the world operates. You should enjoy applying theory to the real world and finding out why some countries are more successful than others. Assessment is mainly exam based.
What's involved?
Markets and Market Failure
In this unit you will learn about "markets". What they are and how demand and supply affect them. Why goods are priced the way they are, what happens to prices when demand and supply change, etc. You will look at why markets "fail", for example, why we have unemployment, pollution, poverty, etc. Having looked at why some markets fail you will then look at the possible strategies to cure these failures: how the government tries to deal with unemployment, rises in pollution, poverty, problems in the housing market, etc. You will look at how, as an economist, we can tackle the problems in society.
The National Economy
This unit looks at the area of "macroeconomics". That is, the big issues in society that you see on television. Why we trade with other countries and the benefits and drawbacks; how we can raise the standard of living; why we have inflation and how to deal with it; how we can achieve economic growth and create jobs, etc.
Business Economics and the Distribution of Income
In this unit you will learn about the economic environment and its impact on businesses. The different markets businesses operate in and the impact of the external environment. For example, international trade, globalisation, the European Union, etc. You will also look at the distribution of income in the UK. Why some people are poor and some rich; policies to make society "fairer", etc.
The National and International Economy
In this unit you will study similar ideas to those in The National Economy but now we look at areas in a much more "global" way. The international economy in terms of unemployment, growth, inflation, trade, pollution, etc. We also look at issues from the perspective of the European Union and look at how changes in the economy in one country can have an impact on countries throughout the world. We look at the economics of globalisation and what it means for the UK.
Progression
This can take a number of forms including studying Economics at university on its own or as part of a joint degree; moving into Management, Civil Service and Teaching. Economics at AS/A2 level is a very good "broadening" subject that goes well with any other A level.