Economics – A Level
Special Entry Requirements
In addition to the A Level entry requirements, you will need grade 5 in GCSE English Language and grade 6 in GCSE Maths
Subject Intent
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.
You will look at microeconomic areas investigating how individual decisions impact economic outcomes, the importance of competition, how markets operate and why they fail and the distribution of wealth. At the same time, you will learn about macroeconomics, looking at the ‘big picture’ of how our national economy fits into the global context, the global impact of financial markets and monetary policy and the operation of the international economy.
Economics equips our students with the skills and confidence to explore. It provides an excellent basis for further study at university. By learning how to explain and evaluate economic problems and possible solutions, students will acquire a way of thinking as economists and develop a logical approach to thinking and reasoning. We aim to encourage our students to become responsible for their own learning, confident in discussing ideas, innovative and engaged. Economics is focused on the real world and there are so many opportunities to study the economies at work in Britain and around the world.
Course Introduction
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.
Preparing for A Level Economics
We have created transition packs to show you the kind of work you will be doing at level 3 and help you prepare for September.
If you have any questions about the course, please email admissions@s6f.org.uk
Course Modules
In your first year of study, you will cover topics like the economic problem and economic methodology; price determination in a competitive market; production, costs and revenue; competitive and concentrated markets; and the market mechanism, market failure and government intervention in markets.
During the second half of your first year, you will cover topics like measurement of macroeconomic performance; how the macro economy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts; and economic performance and macroeconomic policy.
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. you will also cover topics like individual economic decision making; production, costs and revenue; perfect competition, imperfectly competitive markets and monopoly; and the market mechanism, market failure and government intervention in markets.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. You will also study topics like measurement of macroeconomic performance; how the macroeconomy works: the circular flow of income, AD/AS analysis and related concepts; economic performance; financial markets and monetary policy; fiscal policy and supply-side policies; and the international economy.
Assessment
The course is assessed through examination. 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, paper two will cover the national and international economy and paper three will draw on material from the whole course. The papers will feature a range of question styles.
Career Opportunities
