Economics

Economics A Level

Summary

An understanding of how an economy works at a micro and macro level is crucial in making decisions such as how to vote in a general election and how major events in a country are likely to affect business now and into the longer term. Students thrive on this course when they are curious about the world and how it works.


Course Details

Theme 1: Introduction to markets and market failure: This theme focuses on microeconomic concepts. Students will develop an understanding of: The nature of economics, how markets work, market failure and government intervention.

Theme 2: The UK economy – performance and policies: This theme focuses on macroeconomic concepts. Students will develop an understanding of: Measures of economic performance, aggregate demand, aggregate supply, national income, economic growth, macroeconomic objectives and policy.

Theme 3: Business behaviour and the labour market: This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of: Business growth, business objectives, revenues, costs and profits, market structures, the labour market and government intervention.

Theme 4: A global perspective: This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of: International economics, poverty and inequality, emerging and developing economies, the financial sector and the role of the state in the macro economy.


Recommended Entry Requirements

GCSE Economics Grade 6 if studied; and GCSE Grade 6 in both English and Mathematics. 


Further Considerations

Combines well with Mathematics for Economics at university. Some universities don’t accept a combination with Business Studies.