What is Economics?
Gain insight into how markets work. Understand the relationship between micro and macroeconomics and how this shapes local, national and global economies. Kick-start your career, learning vital skills to continue to further education or the world of work.
Why study Economics?
• Economics is an ever-changing subject and affects us all daily.
• Develop the skills to discuss, debate and explain the “why”: why does the Government make the decisions it does; why do businesses influence what and how we spend our money; why do we have a productivity problem in the UK; why wealth equality does not exist, and so many more!
The course and its content
· Economic methodology and economic problem
· Price determination in a competitive market
· Production costs and revenue
· Competitive and concentrated markets
· The government intervention in markets
· The measurement of macroeconomic performance
· How the macro economy works
· Economic Performance
· Macroeconomic policy
Please click on the following link for this information.
https://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136/specification-at-a-glance
Paper 1: Microeconomics studies how individuals and markets operate. We explore product,
labour, and financial markets; analysing how they operate and the impact they have on
each other.
• Paper 2: Macroeconomics studies the wider economy and the role of governments and
international markets.
• Paper 3: Revisits both micro and macro in a synoptic way to allow students an opportunity to
showcase their full range of knowledge.
Your next steps...
Money makes the world go around. It plays a big part in politics, society, law, geography, and almost everything else in life. Understanding how people, companies, and countries control their money is one of the most valuable skills to any employer.
But, economics is much more than pounds and dollars. It’s a fascinating study of psychology, of why people make the decisions they make, and how resources are spread out around the world. Economics is studied in two main strands:
Microeconomics is the study of how individual parties (people, groups, and businesses) use their wealth.
Macroeconomics looks at entire economies. The unemployment, inflation, and monetary challenges of cities, countries, and continents.
Economics is a huge subject. It teaches you so many interdisciplinary skills that you’ll be an attractive applicant for almost any job, in any sector. The 96% of graduates who are in work or further study can expect to be earning around £26k in their first position.
As so much of economics is based in business, and so much related to the wider world, many degrees offer the opportunity to spend a placement year in industry – sometimes abroad. This kind of experience is extremely attractive to governments, banks, and international companies.
Some modules you may study are:
Econometrics
Economic policy
Legal studies
Money and banking
Global finance
Economic history
International trade
Collective decisions
Perhaps the most obvious career choice, becoming an economist, involves a deep understanding of how various issues relate to each other. As a kind of consultant and researcher combined, economists are hired to advise on the impact of changes in anything from healthcare to education, business to energy, and law to the environment.
Of the hundreds of other jobs an economics graduate might apply for, these include accountant, banker, actuary, political adviser, analyst, insurer, statistician, and many more.
An economics degree can lead to hundreds of different careers, with the most common being:
economist
accountant
business analyst
management consultant
It will also put you in good stead for a career as:
actuary
policy officer
banker
political adviser
business development
data scientist
