Business - Economics
|Business||Economics||Miss Berry||Edexcel||A level|
Economics is an interesting and relevant subject. It explores how the economy works and considers the decisions made by consumers, firms and the government, which affect all our lives. Economics is a two year linear A level with examinations at the end of Year 13. The course has four modern themes and students use economic models and data to explore markets and economies and how governments influence them.
Course Entry Requirements
Economics is a challenging academic subject and requires analytical and quantitative skills. Grade 6 in Mathematics and grade 6 in English Language is the minimum requirement.
To encourage students to develop a keen interest in the subject and begin to think as an economist. To provide the foundation for studying economics at a higher level and equip students for the challenges, opportunities and responsibilities of adult working life.
The course consists of four themes:
Theme 1: Introduction to markets and market failure
Introduction to microeconomics. This theme will enable you to understand how markets for goods and services work. We study demand and supply and how the price mechanism works as a means of allocating resources. We then go on to explore situations where markets do not work well and what governments can do to correct this market failure.
Theme 2: The UK economy – performance and policies
Introduction to macroeconomics. This exciting theme will give you a good understanding of how the whole economy works. You will learn about problems such as unemployment, inflation and how these might be tackled through government policy. It looks at how economic success is measured and evaluates different ways of solving economic problems.
Theme 3: Business behaviour and the labour market
This builds on the microeconomic concepts learned in theme 1 and focuses on business economics. We use economic models and theories to understand how revenues, costs and profits are likely to be different in various types of market, including labour markets. Students go on to learn about how and why the government promotes competition in markets.
Theme 4: A global perspective
Builds on knowledge of the macro economy from theme 2 and applies these concepts to a global context. You will study globalisation, international trade, exchange rates, the growth and development of emerging and developing countries. You will also learn about financial markets, the role of the Bank of England and the factors that caused the 2009 financial crisis.
There are three 2 hour exams at the end of the two year A level. The papers are almost equally weighted and there is some choice of questions. There is no coursework.
Progression and Careers
The course gives students access to a wide range of possible career and higher education opportunities. A degree in Economics offers careers in banking, finance, business management and the civil service. Economics combines with other disciplines such as Mathematics and the social sciences to enhance degree opportunities.
Edexcel (option A specification)
For further information, please see Miss Berry - Assistant Head and Teacher of Economics.