Economics
A level
Examination Board: AQA
Specification: 7136
Course Leader: Mr M Smith
Contact Email: msmith@tgschool.net
Economics is a diverse and broad subject due to its applicable nature to many other subjects such as politics, psychology and maths. It generates a wider view on the mechanism in which our world follows both in macroeconomics (economy as a whole), as well as microeconomics( a single market), it allows a wider understanding about the world we live in through the multiple policies studied in how the economy works, even taking into account non-monetary related policies such as behavioural and environmental economics. - Ethan Y13
What Will I Study?
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. Over this two-year course, you will study areas and topics drawn from both micro and macroeconomics.
Microeconomics:
• The economic problem and economic methodology
• Individual economic decision making
• Price determination in a competitive market
• Production, costs and revenue
• Perfect competition, imperfectly competitive markets and monopoly
• The labour market
• The distribution of income and wealth: poverty and inequality
• The market mechanism, market failure and government intervention in markets
Macroeconomics:
• The measurement of macroeconomic performance
• How the macroeconomy works
• Economic performance
• Financial markets and monetary policy
• Fiscal policy and supply-side policies
Entry Requirements
Students should have achieved five GCSEs at grades 9-5 including a Grade 5 or above in English and Maths and Science.
Assessment
The A level has three, two hour written exams.
Paper 1 - Markets and market failure: students answer two questions. Section A – students choose one context from a choice of two; Section B – students choose one context from a choice of three.
Paper 2 - National and international economy: students answer two questions. Section A – students choose one context from a choice of two; Section B – students choose one context from a choice of three.
Paper 3 - Economic principles and issues: Section A - multiple choice. Section B – extended writing questions.
Where Next?
A level Economics encourages key thinking skills that provide excellent preparation for those who go onto higher education or employment. A level Economics would provide a great grounding for those hoping to apply for apprenticeships and employment in the commercial sector. Continuing to study Economics at degree level would provide opportunities for employment as economists, accountants, auditors, actuarial and data analysts to name but a few.