Examination Board: AQA

Entry requirements:         

GCSE Mathematics grade 7; GCSE English grade 6

Economics is the study of the science of human behaviour, in relation to the real choices that people make in the world around them. In this course students will learn about the way in which individuals and organisations choose to use their scarce resources, the role of markets for goods and services, and how governments intervene to influence behaviour.  The course encourages students to consider current political and economic events and to analyse their impact. It enables students to develop a critical approach, through rational and logical argument of both sides of a case – they must be prepared to enter into debate and to argue their point of view.

A level course

Students examine models of demand for, and supply of, goods and services, and how prices are set in different markets. They consider government intervention in markets, and the overall performance of the UK economy and government economic policy, in relation to taxation, interest rates and spending. Study will be set in the context of current economic developments and global markets. They may choose to extend their studies by attending a series of talks and lectures, by entering the Royal Economic Society’s ‘Young Economist of the Year’ competition, and by taking part in the Bank of England’s ‘Target 2.0’ inflation rate challenge.

Skills required and gained

A main requirement is an interest in the world outside school and in current affairs. It is not necessary to study mathematics at A level, but students should have a very good pass in GCSE mathematics, be confident interpreting a range of data, and also comfortable with writing extended essay answers to questions. By the end of the course students will have developed essay writing skills and powers of logical argument, and recognise how to present findings and conclusions in the form of a structured report. This is a course which will help develop skills which will be valuable throughout their life.

Course combinations

Economics can be successfully combined with almost any other A level subject. It is an excellent addition to the sciences as it demonstrates different skills and interests, and is also particularly useful if studied alongside government and politics, geography, languages or mathematics. Students may not choose to study both economics and business studies.

Assessment

Terminal assessment takes place at the end of the second year.

Paper  1: Markets and Market Failure/ 2 hours/ 80 marks/ 33.3% of A level

Section A: Data response – choose one context from a choice of two

Section B: Essay - choose one context from a choice of three

Paper  2: National and International Economy/ 2 hours/ 80 marks/ 33.3% of A level

Section A: Data response – choose one context from a choice of two

Section B: Essay - choose one context from a choice of three

Paper  3: Economic Principles and Aims/ 2 hours/ 80 marks/ 33.3% of A level

Section A: 30 micro and macro MCQ

Section B: Extended writing questions based on an unseen case study.