ECONOMICS (AQA 7136)
Economics is a real-world subject that affects everyone! It is about our economic system and how it operates. Inevitably, it is also about problems such as unemployment, rising house prices, taxes and recent events.
You will investigate micro and macroeconomics. Microeconomics addresses issues such as: ‘Why are house prices so high in some areas?’, ‘Can pollution be controlled effectively?’ and ‘Should governments interfere with markets?’. The macroeconomic issues covered include: ‘Why does the government have a target and how does it affect us?’, ‘What happens to the economy if people decide to spend more?’ and ‘How are we affected by the Chinese and Indian economies?’.
The A level course comprises three papers:
Paper 1: Markets and market failure (Written exam: 2hrs, 33.3% of A level)
Economic methodology and the economic problem; 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.
Paper 2: The national and international economy (Written exam: 2hrs, 33.3% of A level)
The measurement of macroeconomic performance; how the economy 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; the international economy.
Paper 3: Economic principles and issues (Written exam: 2hrs, 33.3% of A level)
A multiple choice question and case-study paper, based on the content already covered in Papers 1 and 2.
Academically, it is expected that students entering Birkdale’s Sixth Form will have achieved a minimum of 5 passes (9 to 5) at GCSE, with at least 4 at grade 6 or higher; we would expect 6 or higher GCSE grades in those subjects being studied to A level. A grade 6 is required to study A Level English and Mathematics, although a grade 7 is preferred in Mathematics. Prospective Further Mathematicians should achieve a grade 7 in GCSE Mathematics although a grade 8 is preferred. In addition at Birkdale we look beyond the academic and would wish applicants to become fully involved in the life of the school, offering their skills and abilities in one or more of a number of areas (e.g. drama, sport, music, clubs and societies, etc).