Technically, Economics is the study of how the forces of demand and supply allocate scarce resources, for consumers, firms and at national level. In practice, it includes all sorts of real issues, such as a tax on sugar, a minimum price for alcohol, the best way of reducing unemployment, whether income tax should be raised or cut and the impact of emerging markets such as India and Nigeria. Students should both be able to write fluent essays and have a good grasp of numeracy. Quantitative skills are an essential aspect of the course, for example calculating and understanding ratios, fractions, percentages, index numbers, averages and graphs.
Minimum GCSE of 6 in Maths and 5 in English.
Teacher to contact/Head of Economics: Mr N Weersing
Students will be introduced to the reasons why prices change, why markets don’t always work and how and why governments then intervene, not always for the better! We also look at topics such as inflation, unemployment, international trade and economic growth, as well as discussing government policies such as taxation, keeping the economy growing and the Bank of England’s role in setting interest rates. As your understanding deepens, we will consider the application of economic concepts to the world economy, the behaviour of firms, and the labour market. You will discuss topics such as monopoly power, wage inequality, and bigger concerns such as inflation, the influence of China, developing economies, sustainability, globalisation, the EU and the Euro, as well as looking at the UK financial sector. All of this is in the context of differing approaches to policy making.
100% examination, comprising multiple choice, data response and essay questions.
Exam Board: EDUQAS • A-Level: A520QSL • Component 1 – A520U10 • Component 2 – A520U20 • Component 3 – A520U30
Are you interested in:
- The financial impact of rising energy costs?
- The government’s economic response to Covid-19 and Russia’s aggression?
- Worldwide poverty and inequality?
- Current affairs and politics?
- Mathematical reasoning?
Leading to a career in:
- Financial Services
- Economic Analysis
- Civil Service
This subject goes well with:
Click below to learn about the course from Economics student, Miles.