Economics

“The skills you acquire through Economics A-Level will be relevant to your whole life, whether you choose to study it beyond A Level or not.”

A Level Economics encompasses subjects associated with economics including the market system, market failure and government intervention, the national and international economy, economics of work and leisure, the UK economy and economics in a European context in order to give you the broadest knowledge possible.

Aims of the course

  • develop an interest in and enthusiasm for the subject
  • appreciate the contribution of economics to the understanding of the wider economic and social environment
  • develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts
  • use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist
  • understand that economic behaviour can be studied from a range of perspectives
  • develop analytical and quantitative skills, together with qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life.

Exam board: AQA
Syllabus title: A-level Economics
Course code: 7136 QAN code: 601/4371/X

Course Content

Coursework

1. Individuals, Firms, Markets and Market Failure

This module requires us to consider why economic choices have to be made. For example, do we spend taxpayers’ funds on sports facilities, HS2 or the NHS? We will look at how our market system operates. We will examine how markets work, but also how they can fail. Should “bad” food be taxed? What policies can we as economists recommend to limit/eradicate the damage being one to the environment? Would such a policy work? Why is Raheem Sterling paid up to £300,000 per week and a nurse might get £30,000 per annum? How fairly is income/wealth distributed in society? Can/should the government intervene to make society fairer? What is the role of government in deciding who gets what?

2. The National and International Economy

We will examine the economic objectives the government sets for itself such as unemployment, rising prices, improving living standards and so on. How can it achieve those objectives? What might the problems be with any of the policies the government uses? In this module we will also consider the fact that our economy operates in a global context. As an island we have always been a trading nation but what are the implications for us in the modern world? What about the plight of the less developed economies of the world?

3. Economic Principles and Issues

This paper will test a candidate’s ability to apply their knowledge of all the work covered during the course in order to test the depth and breadth of their understanding. How well have students understood all the concepts and, more importantly, how good are their skills of analysis and evaluation? Students are encouraged to think about economics on a global scale and consider the different influences on economies around the world.

Assessment and weighting

Three exams at the end of the course with equal weighting: 

  1. Markets and Market Failure External exam: 2 hours
  2. National and International Economy External exam: 2 hours
  3. Economic Principles and Issues External exam: 2 hours

Future opportunities/career

Students who study Economics have developed transferable skills, including analysing and evaluating Business and Economic information from different sources, developing written communication skills and learning how to solve problems. Such skills are in great demand and are recognised by employers, universities and colleges and as such salaries are higher. This subject leads to university courses in areas such as Law, Business, Banking, Accounting, Geography, Management, Economics or Politics.

Qualifications/ School record

Required

  • 5 in English
  • 5 in Maths 
  • Good attitude to learning and excellent attendance

Attitude/Qualities

  • Hard working and organised
  • Determined
  • Keen to learn and positive attitude
  • A keen interest in current affairs/news

Skills

Required:

  • Analytical / Logical
  • Independent
  • Handling data and plotting graphs and charts
  • Able to identify trends and patterns in data
  • Competence in general arithmetic
  • Learning and using specialist vocabulary and can structure written essays

Desirable:

  • Strong analytical skills
  • Good written skills
  • Confident with statistics and numbers
  • Reflective
  • An interest in current affairs

Experience

Required:

  • Experience of presenting ideas and work

Desirable:

  • Strong analytical skills
  • Good written skills
  • Confident with statistics and numbers 
  • Reflective
  • An interest in current affairs

 

Updated 14/04/2022