Economics is a stimulating, academic subject that explores concepts and models within the domestic and global economy. Pupils develop their ability to enquire, critically analyse and evaluate ideas and theories, whilst beginning to think as an economist.

Studying economics provides a strong foundation in understanding how local, national and global economies work. The course enables students to apply economic theory to support the analysis of current economic problems and issues, and encourages students to appreciate the interrelationships between microeconomics and macroeconomics. Students develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed, balanced decisions.

 

Career/Higher Education Application Entry Requirements  
Economics is a well‐respected A level and is an increasingly popular area of study at degree level.  Economics A Level is not necessarily required to study the subject at university, but can provide a useful preparation for studying History, Geography, Accountancy, Business, Law, the Social Sciences and a wide range of other degree subjects, and demonstrate a breadth of skills within your A Level portfolio.   Upper grade 5 or above in GCSE mathematics and a high standard of GCSE English (usually grade 5 or above)  

 

Key Skills

The course develops many key, transferable skills including Data Analysis, Communication, and Critical Thinking and Analysis.

Course Overview

The course will cover the following topic areas:  

AS

  • Economic methodology and the economic problem  
  • Price determination in a competitive market  
  • Production, costs and revenue  
  • The market mechanism, market failure and government intervention in markets  
  • Competitive and concentrated markets  
  • The measurement of macroeconomic performance 
  • How the macro economy works; the circular flow of income, AD/AS analysis, and related concepts of economic performance  

A Level   

  • Economic methodology and the     
  • economic problem  
  • Individual economic decision making  
  • Price determination in a competitive  
  • market  
  • Production, costs and revenue  
  • The market mechanism, market failure and government intervention in markets  
  • The measurement of macroeconomic  
  • performance  
  • How the macro economy works; the  
  • circular flow of income, AD/AS analysis,  
  • & related concepts  
  • Economic performance 
  • Financial markets and monetary policy  
  • Fiscal policy and supply‐side policies  
  • The international economy  
  • Macroeconomic policy  

 

Assessment

The course is assessed in the following way:  

 

Students must take all of the assessments listed below to achieve an AS qualification  
Assessment   Outline   Grading  
7135/1  

1 hour 30   

70 marks  

 

 

The operations of  

markets and market  

failure   

Section A: 20 multiple choice questions   

worth 20 marks  

 

Section B: data response questions  requiring written answers, choice of one from two contexts worth 50 marks  

50 % of AS  

Level  

 

 

 

 

 

 

 To gain a full A Level students must take all of the assessments listed below  
Assessment  Outline   Grading  
7136/1  

2 hours  

80 marks  

 

Markets and  market failure  

 

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 case studies  worth 40 marks  

33.3% of A level  

 

  

For Entry September 2018  

 

  

  

AS        A Level    
Assessment   Outline   Grading   Assessment  Outline   Grading  
7135/2  

1 hour 30   

70 marks  

The national economy in a global context  

 

Section A: 20 multiple choice questions  worth 20 marks  

 

Section B: data response questions  requiring written answers, choice of one from two contexts   

worth 50 marks  

 

50% of AS Level   7136/2  

2 hours  

80 marks  

National and  

International Economy  

 

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 case  

studies  worth 40 marks  

33.3% of A level  
7136/3   

2 hours  

80 marks  

Economic Principles and Issues  

 

Section A: multiple choice questions  worth 30 marks  

 

Section B: case study  questions requiring written answers worth 50 marks  

  

33.3% of A level