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

Are you interested in:

  • The financial impact of rising energy costs?

  • Worldwide poverty and inequality?

  • Current affairs and politics?

  • Mathematical reasoning?

What Will I Study?

Economics explores how the forces of demand and supply allocate scarce resources across individuals, businesses, and entire nations. The subject addresses real-world issues such as sugar taxes, minimum alcohol pricing, strategies to reduce unemployment, changes to income tax, and the global impact of rapidly expanding markets such as India and Nigeria. Students develop strong essay-writing skills alongside solid numeracy. Quantitative skills are a vital component of the course, including the ability to calculate and interpret ratios, fractions, percentages, index numbers, averages, and graphical data.

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

Additional Entry Requirements:

Grade 5 or above in GCSE English Language, 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.

Leading to futures in:

A-Level Economics can be a gateway to numerous future employment, apprenticeship and further education options, ranging from business management, the Financial Services sector, economic analysis, marketing, the Civil Service and politics.

Department Staff

Mr M Smith (MSM) Teacher of Maths
Mr D Yates (DYA) Teacher of Government & Politics