Economics A Level at Liverpool College
Economics is a subject that inspires pupils to analyse issues from new perspectives by providing a framework of thinking different to any subject they have studied before. In a world where discussion of recession, public sector cuts, University fees, footballer‟s wages, the future role of China, house prices, the stock market and pensions dominate the news, Economics helps pupils to gain an understanding of all these issues and more.
Economics complements both Arts and Science subjects, and can make an ideal 4th AS for those pupils who want something to balance out their choices. As part of the course, pupils participate in a Stock Market based Investment Game, enter national competitions in a range of areas, and have the opportunity to learn more about their world.
Economics is a course that prepares pupils for almost any University course, and for a wide range of careers in the future. The analytical and evaluative skills it gives pupils are highly valued by Universities and employers. While it is obviously very useful to those wishing to study Economics, it is also of great use to prospective Management Science, Humanities, Politics, Philosophy, Law and even Science pupils.
Unit 1- Competitive Markets- How They Work and Why They Fail- This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure and, its causes and possible policy remedies. At the end of this unit, pupils should be able to apply supply and demand analysis to real world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness. AS-50%, A-Level-25%
Unit 2- Managing the Economy- This unit introduces the key measures of economics performance and the main objectives and instruments of economic policy. Pupils should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognise the assumptions involved; argue for different approaches and identify criteria for success. AS-50% A-Level-25%
UNITS 3&4 (A2):
Unit 3- Business Economics and Economic Efficiency- This unit develops the content of Unit 1 and examines how the pricing and nature of competition between firms is affected by the number and size of market participants. At the end of this unit, pupils should be able to analyse the pricing and output decisions of firms in different contexts. They should also be capable of making an appraisal of government intervention aimed at promoting competitive markets. A-Level- 20%
Unit 4- The Global Economy- This unit develops knowledge and skills gained in Unit 2 so that they can be applied in a global context. The application, analysis and evaluation of economic models is required as well as an ability to assess policies which might be used to deal with economic problems. An awareness of trends and developments in the global economy over the last 10 years is required. A-Level- 30%
How to apply
If you want to apply for this course, you will need to contact Liverpool College directly.