A Level Economics

A Level Economics

Exam Board: Edexcel

Students will develop a broad understanding of how the economy works. They will develop understanding of key aspects of economic theory such as: how markets work, supply and demand, marketing failure and government intervention, the economic cycle, microeconomics and macroeconomics. The students will also look at globalisation and its impact on local and national economies.

Students of Economics are encouraged to use an enquiring, critical and thoughtful approach to their study, to understand that economies can be influenced by any number of different aspects and turn on the slightest whim!

Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help you make better choices. In Theme 1 and Theme 2 you will be introduced to the nature of economics, how markets work and why they fail, consumer choices and enterprise in the economy. You will also consider the role of banks and life in a global economy.

In Theme 3 and Theme 4 you will explore the impact of globalisation on consumers, firms and the labour market. You will also investigate the role of the government and have an opportunity to consider the role and impact of the financial sector

Paper 1;

Written examination: 2 hours - 35% of the qualification

Assessment overview

An externally-assessed written examination covering Theme 1 and Theme 4. Students will show understanding of Microeconomics looking at competition and market power, market failure, risk and the financial sector.

Paper 2;

Written examination: 2 hours - 35% of the qualification

Assessment overview

An externally-assessed written examination covering Theme 2 and Theme 3. Students will show understanding of Macroeconomics and globalisation. This will delve into how the impacts of world events have consequences at local and national level.

Paper 3

Written examination: 2 hours - 30% of the qualification

Assessment overview

An externally-assessed written examination that has a pre-released context released in November each year. The students will demonstrate knowledge from all four themes in their answers throughout the exam paper.

In order to take the course, we recommend that students achieve a Grade 5 or above in Maths and English Language or Literature at GCSE.

Economics has one of the highest graduate employment rates of any non-specialist degree and can lead to careers such as economist, accountancy, teaching, governmental & civil service jobs, transport sector jobs, jobs in business and many more!

Studying economics will help you develop transferable skills that will prepare you for studying at university or moving into the world of work. These include skills in data interpretation and essay writing. You will also develop commercial awareness.

Suitable higher education courses include economics degrees or degrees in applied economics such as environmental economics, labour economics, public sector economics or monetary economics.

You might choose to study business economics, international business or a business and management degree. Economics students can follow a wide range of careers in industry, commerce, finance and the civil service. You might choose a career in banking, sales, product management or general management.