A Level Economics

A-level Economics will give you an excellent understanding of how economies allocate their scarce resources to meet the needs and wants of their citizens. You will develop a greater understanding of the economic problems which face individuals, firms and governments on a local, national and global level and the alternative ways these problems can be resolved. Studying Economics provides students with an understanding over the importance of managing economies and the role of the government in facilitating economic growth and addressing issues such as income inequality. For example we explore the use of government intervention such as subsidies, taxation and regulation in preventing market failure (Microeconomics) and also the use of policies such as monetary (interests rates) and fiscal (taxation and government spending) to help achieve macroeconomic objectives.

Course Information

A level Economics 7136 AQA https://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136

Topics

Year 1 – microeconomics including economic methodology and the basic economic problem, price determination, production costs and revenue, behavioural economics, market structures, the labour market, market failure and government intervention.

Year 2 – macroeconomics including macroeconomic objectives, how the macroeconomy works, economic performance, financial markets and monetary policy, fiscal and supply side policies and the international economy.

Assessment

You will sit three two hour written exams – each exam will be worth a third of the A-level. Paper one will cover markets and market failure (microeconomics), paper two will cover the national and international economy (macroeconomics) and paper three will draw on material from the whole course (synoptic). The papers will feature a range of question styles.

Trips

In March 2019, a group of A level Business and Economics students ventured to Brussels for a three day visit to explore the culture, business and financial sectors at the centre of the European Union. One of the world’s most cosmopolitan cities and home to both the EU and NATO, Brussels also has a wealth of international trade and financial institutions. During our stay we visited the Coca Cola Education and Distribution Centre, Stella Artois, Grand Place, National Bank of Belgium Museum and Concept Chocolaterie; one of the finest producers of Belgian chocolates in the country!  Students thoroughly enjoyed the trip and the opportunity to apply business and economic theory learned in the classroom, to reality.  This is a trip we hope to offer again in the future, once Covid-restrictions have lifted.

Student views

‘If you enjoy Maths, you will love Economics’

‘It is very logical and I like the way there are theories and diagrams that can be applied to understand topics more’

‘It’s given me more of an understanding of the role of the Government in encouraging a better society e.g. improving people’s economic welfare as well as economic growth

Progression information

You may choose to pursue a career in a directly related field such as banking or finance. The A-level course in Economics will stand you in good stead by giving you an insight and understanding of the economic forces that impact your day to day activities. Alternatively, you may decide to follow a career path which isn’t directly related to your course of study. The analytical and evaluation skills that you will have developed will be useful whatever path you choose in the future.

Person specification

  • Ability to retain information such as theories of demand and various diagrams used to illustrate economic problems
  • Enjoy maths and problem solving
  • Ability to apply economic theory learned to ‘real-life’ economic situations
  • Develop arguments for and against the use policy instruments/ government intervention and make overall recommendations as to what the best policy/intervention is to address a specific economic problem
  • Use basic mathematical calculations (percentage change, use of index numbers, concentration ratios) to manipulate and make use of data
  • Ability to work both independently and as a team
  • Have an avid interest in following UK and global economics topics in the news
  • Literacy skills from which to build on and refine written skills of analysis, application and evaluation

Entry requirements

Previous study of GCSE Business or Economics is not essential however it is essential to have GCSE English Language (4 or above) and GCSE Maths (5 or above).

 

Economics is a very popular option for 6th form students and provides students with essential knowledge and skills that will prepare them for apprenticeships, further education and/or the work place.

If you would like further information on any aspect of AS or A level Economics, please contact Mrs Mossman, Head of Department.