We aim to get to know you and your aspirations, and to enable you to achieve your potential though up to date courses designed with students in mind. Your values and enthusiasm are as important as the skills and knowledge you develop, so the curriculum offers interest and challenges by applying learning real-time business news and to firms and industries in the UK and worldwide. 

Economics is a more conceptual look at the ‘invisible hand’ that influences how the economy works. The theory is based on the observations of the real world by economic thinkers and considers their different views but is largely based on classical theories. We learn how the interaction of supply and demand influences prices and the government's role in trying to make sure that there is efficiency and equity (fairness) for everyone. We look at what happens when firms get powerful in a market and how this affects their objectives, and the way consumers are treated. We study how consumers respond, whether rationally or driven more by psychology and consider what happens when there might be perceived inequity due to wealth and poverty. We study the labour market and what makes individuals willing to work and how they are valued by employers. 

In macroeconomics, we consider models of how the economy works and the effect of money flowing into it and out of it, including foreign trade and government spending. We learn how the economy is measured and there is a bit of data to understand, but the maths skills are not complicated beyond good GCSE. We aim to understand government policies designed both to make the economy efficient and to create growth and the role of the financial sector and impact of past economic shocks like the 2007-8 recession. International trade and our role in the global economy are vital components of any country’s economy in the modern world. 

As a student of economics we keep up to date with the current economic climate and trends. You will gain a highly marketable set of skills which will enable you to undertake further study across a range of disciplines and Economics is seen as an enabling subject for entry to many further education courses and for building relevant skills for application to apprenticeships.  

Course Content

The course covers both microeconomics (Markets and Market Failure) and macro (The National and International Economy). In microeconomics, we study : 

· Markets and Market Failure 

· The Price Mechanism 

· Theory of the Firm & Business

Economics 1 (the firm) 

· Market Failure 

· Behavioural Economics 

· Theory of the Firm & Business

Economics 2 (how markets work) 

· Labour Markets 

· Economics of Inequality 

· The National and International Economy 

· The economic problem and economic methodology 

· Macroeconomic objectives, indicators and measures 

· Macroeconomic models 

· Macroeconomic policy 

Assessment criteria

There is no need to have studied either Economics or Business prior to starting A level Economics. Students are assessed on:

· Analysis – ability to use lines of reasoning showing cause & effect 

· Knowledge -  terms, concepts, models, diagrams 

· Application & Understanding - using knowledge in context 

· Evaluation - arguments and judgements on the use or relevance of a concept or theory 

Paper 1: Markets and Market Failure

80 marks, 2 hours

Choice of 1 from 2; Data Response (40 marks) 

Choice of 1 from 3; Essay (40 Marks) 

Paper 2: National and international economy 

80 marks, 2 hours

Choice of 1 from 2; Data Response (40 marks) 

Choice of 1 from 3; Essay (40 Marks) 

Paper 3: Economic principles and issues 

80 marks 2 hours

30 multiple choice questions (30 marks) and a case study (50 marks) 

 

Head of Subject: Mrs N Alani

Exam Board: AQA

Entry Requirements:

5 in English Lit or Lang and 5 in Maths

Are you interested in?

How markets operate, how the world economies run, current economic issues, how money works in the country, how consumers make decisions, the government’s role, our place in the global economy. (And do you like graphs and facts and figures? We work in numbers, graphs and words, so it helps!) 

Leading to a career in: economist, financial risk analyst, data analyst, financial planner, accountant, economic researcher, financial consultant, investment analyst. Many careers will welcome economics qualifications. 

This subject goes well with: many subjects, especially Maths, Psychology, History, Geography. If you’re considering both Business and Economics, talk to Ms Neal so that you’re taking care not to narrow your options too quickly. 

Student views:

“I have never once asked myself “why am I learning this?” It is vital, relevant information and is building my analytical skills and writing ability.”