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Economics AS and A Level at Tapton School

Course description

Economics is the study of how society allocates its scarce resources between competing uses... for instance, how is our access to fresh water managed. It is a vital resource which certainly creates benefits for all consumers, however it seems our demand exceeds the supply available at times and is often rationed. Another issue of concern could be the management of transport. Free access to roads in this country is an integral feature of our society... but it generates considerable problems, pollution, congestion, health issues etc. Economics may suggest the free market is an answer to both problems, charge people for what they use and they would be more careful! But what would the effect be for those on low incomes for instance. A level Economics develops an understanding in students, which allows them to explore how markets work... and how they fail, both on a local level and at a national and international level, and how Governments can or could take a role.

Course content

  • How to develop an understanding of economic concepts and theories through a critical consideration of current economic issues, problems and institutions that affect everyday life.
  • How to apply economic concepts and theories in a range of contexts and to appreciate their value and limitations in explaining real world phenomena.
  • How to analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within.
  • How to participate effectively in society as a citizen, producer and consumer.

At AS The main topics include:

  • The operation of markets and market failure
  • Economicmethodology and the economic problem
  • Price determination in a competitive market
  • Production, costs and revenue
  • Competitive and concentrated markets
  • The market mechanism, market failure and government intervention in markets.
  • The national economy in a global context
  • The measurement of macroeconomic performance
  • How the macro economy works - the circular flow of income, AD/AS analysis, and related concepts.
  • Economic performance
  • Macroeconomic policy

At A Level, you will study the above as well as:

  • Individuals, firms, markets and market failure
  • The economic problem and methodology
  • Individual economic decision making
  • Price determination in a competitive market
  • Production, costs and revenue
  • Perfect Competition, imperfectly competitive markets and monopoly
  • The Labour market
  • The distribution of income and wealth: poverty and inequality
  • The market mechanism, market failure and government intervention in markets.
  • The national and international economy
  • The measure of economic performance
  • How the macro-economy works: cicular flow of income, aggregate demand/aggregate supply analysis
  • Economic performance
  • Financial markets and monetary policy
  • Fiscal policy and supply side policies
  • The international economy

Entry requirements

5 in English Language and 5 in Maths, or a B in Economics.

Completion of AS to grade D or above is needed to progress to the A Level.

Assessment

For the AS Course students will sit 2 written exams, both last for 1.5 hrs.  Each paper makes up for 50% of the AS Qualification.

  • Paper 1:  Component of markets and market failure.  This paper includes multiple choice questions, and one data response question from a choice of 2.
  • Paper 2:  The national economy in a global context.  This paper includes multiple choice questions and one data response question from a choice of 2.

 

For the A Level course students will sit 3 exams, both last for 2 hours.  each paper makes up 33.3% of the total A level.

  • Paper 1: Component of Market and Market Failure.  This paper includes 1 data response question from a choice of 2 and 1 essay from a choice of 3.
  • Paper 2: National and International economy.  This paper includes 1 data response question from from a chocie of 2 and 1 essay from a chocie of 3.
  • Paper 3: Economic principles and issues: This paper includes multiple choice questions and 1 case study with questions.

Future opportunities

Students with AS or Advanced GCE Economics have access to a wide range of possible career and higher education opportunities. You learn and use a variety of transferable skills throughout the course. These include collecting and analysing economic information from different sources, development of written communication skills, development of problem solving and evaluation skills. These skills are in great demand and are recognised by employers, universities and colleges as being of great value. Economics combines well with a range of social science and humanities subjects to lead to University courses in such areas.

How to apply

You can apply for this course through UCAS Progress. Add this course to your favourites so you can start making an application.

Last updated date: 08 November 2016

Key information

  • Start date: Next September
  • Duration: 1 year for AS level, 2 years for A Level

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