Qualification type: A Level
Entry criteria (GCSE grades) Minimum English Language 6 and/or Maths 6 as well as Business (if taken) B
Economics is a very dynamic and relevant subject. Economics can be defined in a few different ways. It's the study of scarcity, the study of how people use resources and respond to incentives, or the study of economic decision-making.
This course aims to encourage students to develop an academic understanding of relevant economic and business concepts and theories and to apply them to real-world issues. An interest in the wider world will be essential. Students will have the opportunity to participate in study trips, student conferences in London, Junior Investor Challenge, Enterprise Day and other Economic and Business competitions.
AS: Theme 1: Markets, consumers and firms
Scarcity, choices and potential conflicts; Enterprise, business and the economy; Sources of finance; The markets; Market failure and government intervention; Revenues, costs, profits and cash.
Theme 2: The Wider economic environment
Business growth and competitive advantage; Marketing and price & income elasticity of demand; Increased business efficiency; Life in the global economy; The economic cycle; Introduction to macro-economic policy.
A Level: Theme 3: The global economy
Globalisation; Business expansion; Global marketing; Multinational corporations; Global labour markets; Inequality and redistribution.
Theme 4: Making markets work
Competition and market power; Market failure across the economy; Macroeconomic policies and impacts on firms and individuals; Risk and the financial sector.
How the course is assessed
Examinations are 100% of the assessment. An ability to communicate well in written form is essential; 20% of assessment will involve calculations which will need to be applied and developed to real world contexts and developed into extended written answers and essays:
AS: Two 90-minute exams in Year 12
A2: Three two-hour exams in Year 13
The course gives students access to a range of careers and opportunities for higher education (unlike similar qualifications we have had students go to read Economics at Oxbridge and LSE). Economics is also a route to other subject areas and careers including: Accountancy, Maths, Business, Economics, Finance, Insurance, Management, Market Trading/Investment Banking, Marketing, Philosophy, Politics and Social Sciences.
Teacher responsible: Mr N Edge