Economics

Course Specification 

What will you study?

Economic forces have a major influence on the personal and working lives of us all. Governments are preoccupied with economic affairs and businesses are affected by the Economic environment. Economics is an applied subject and theory will be taught in the context of developments in the UK economy and will include the UK's relationship with Europe and the rest of the world. Students will be introduced to a range of current economic issues. These include consideration of important questions such as: What will happen to the economy post Brexit? What are the consequences of privatisation? Why does the Bank of England alter interest rates? How can government policy help the environment? Why does the Government provide Education and Health Services? These and many other real life issues will be considered during the course.

What skills will you develop?

Economics is as much about thinking a certain way as opposed to any particular set of facts and figures.  You will learn to apply economic theories and concepts to a wide range of problems.  Whilst being mathematical and logical when approaching problems will stand you in good stead, Economics is not just “Business with Maths”!  Being able to write and communicate fluently is vital as essays are core components of the course.  The use of diagrams, such as supply and demand, is a foundation of Economics so you will also develop the ability to simplify complex situations into abstract models.  Most of all by studying Economics you will have a much clearer understanding of what is happening in the world.

How will you be assessed?

A Level Economics is assessed by three exams. There will be an exam for both Unit 1 and Unit 2. 

They will follow this format:

Microeconomics & Macroeconomics Written exams: 2 hours each - 80 marks - 33.3% of A Level

Questions

• Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks
• Section B: essay questions requiring written answers, choice of one from three worth 40 marks

There is then a third exam for Unit 1 and Unit 2 combined.  The format for this exam is:

Combined Written exam 2 hours - 80 marks - 33.3% of A Level

Questions

• Section A: multiple choice questions worth 30 marks
• Section B: case study questions requiring written answers worth 50 marks.