Economics - A Level
Special Entry Requirements:
In addition to the A Level entry requirements you need a minimum of grade 6 in GCSE Maths and a grade 5 in GCSE English Language. An interest in current affairs will be a distinct advantage. It is unlikely that anyone starting the course will have studied Economics before.
The Economics course we offer is a subject full of controversy allowing students to consider the topical issues of the day in a lively and analytical way. In Economics students will develop the valuable skills of analysis, evaluation and argument. Students will also become more confident in the interpretation and manipulation of numerical data.
Economics Transition Pack – We have prepared some information on the website to show you the kind of work that you will be doing at level 3 and to help you prepare for September.
The AS year introduces students to the micro-economic part of the subject. They will learn about the problems that societies face because of the growing problem of scarcity of resources. Students will also learn how markets operate, what makes them efficient and also how they might fail. With regard to the latter they will learn that while competitive markets might make for successful economies, greedily striving for more wealth might also lead to problems such as poverty, inequality and environmental damage.
In the second half of the year students are introduced to the macro-economic part of the subject. They will learn how economists measure and explain the level of key indicators such as unemployment, inflation, economic growth and the balance of trade. The problems associated with key indicators and the remedies that governments may use are analysed. Students will learn that economic problems such as high unemployment may have numerous different possible solutions and that economists themselves often disagree about what is the best course of action.
In the second year students will develop their understanding. Students will learn how and why earnings vary so greatly between different groups, such as males and females. Controversial issues such as the impact of the National Minimum Wage will be critically examined and the impact of organisations such as trade unions on the labour market will be assessed. The work also incorporates an overview of how markets are changing in the UK.
Students will also consider economic performance in a Regional, National, European and Global context. The final area of study is the financial sector. Here students will gain an understanding of the role of the Bank of England and financial regulation of the markets.
The course is assessed through examination.
Economics is an established academic subject and, as such, provides an excellent base for progression into higher education. Economists are highly sought after – in fact economists are the second most highly paid graduates. Those who have a good understanding of Economics will find rewarding occupations in finance, banking and management. The government and large international businesses are important employers of professional economists.