Economics

Please note:
This subject is offered in mixed classes jointly with Ermysted’s Grammar School.  

Is this course for me?

Economics is a social science. It is a study of human behaviour, looking at the production and consumption of scarce resources in national and international economies and how government can act to maximise the well-being of society. The course is split into two main parts:

Microeconomics:This is the study of individuals and firms operating in a variety of markets.

Macroeconomics: This is the study of the British and International economy and covers many of the important issues that dominate the news on television and in the newspapers and magazines.

Universities want students who possess the skills A Level Economics develops. These include analysis and evaluation, building strong evidence-based arguments, the ability to defend opinions and viewpoints, a knowledge of current affairs and confidence in self-expression. Those with an Economics background tend to be among the highest paid workers in the country. Economics graduates commonly find work as economists, statisticians and actuaries, business management, marketing and sales, accountancy, investment advisers and analysts, journalism, the Civil Service, financial services, banking and insurance

Qualification Structure

Unit One considers microeconomic elements, including economic decision making, markets and market failure. In this unit you will study a) economic methodology and the economic problem b) individual economic decision-making c) price determination in a competitive market d) production, costs and revenue e) perfect competition, imperfectly competitive markets and monopoly f) the labour market g) poverty, inequality and the distribution of income and wealth h) the market mechanism, market failure and government intervention in markets.

Unit 2 considers the macroeconomic principles of Economics. You will study a) the measurement of macroeconomic performance b) how the macroeconomy works c) economic performance d) financial markets and monetary policy e) fiscal policy and supply-side policies f) the international economy.

Unit 1: Markets and Market Failure 

Exam 2hrs 33.3% of final grade

Unit 2: National and International Economy 

Exam 2hrs 33.3% of final grade

Unit 3: Economic Principles and Issues 

Exam 2hrs 33.3% of final grade