Economics A Level at Clitheroe Royal Grammar School
The Edexcel syllabus covers both micro-economics and macro-economics.
Micro-economics focuses on scarcity, demand and supply analysis, how markets work, market failure and why governments need to intervene. Issues such as business growth, business objectives, revenues, costs, profits, the labour market and market structures such as monopoly are studied. For example:
· To what extent would the introduction of a minimum price for alcohol reduce its consumption?
· What are the arguments for and against the congestion charge in London?
· Why does the government provide a National Health Service?
· Should university tuition fees be scrapped?
· Why might the government want to prevent one business taking over another?
· Should a business close down if it is making a loss?
· How does an oil company like Shell making billions in profits benefit consumers?
Macro-economics focuses on economic performance measures, aggregate demand, aggregate supply, economic growth, unemployment, inflation, the balance of payments and policies used by governments to achieve their macro-economic objectives. International economics with a strong emphasis on the financial sector, poverty and inequality and the emerging and developing economies in the world are studied. For example:
· Why does the Bank of England need to set a base rate of interest?
· What policies are used by the government to reduce unemployment?
· Why has the UK not joined the Euro?
· How can the government help to alleviate poverty in the UK?
· Should high income earners be taxed more?
· What are the arguments for and against cutting welfare benefits?
· How are fast growing economies like India and China affecting UK economic performance?
· Is spending £33bn on a High Speed rail network an effective use of government finances when the UK has a rising national debt?
· Should the UK leave the EU?
AS Level is a stand-alone qualification. Marks are not part of the A Level qualification.
Two externally assessed examination papers are sat in May/June in Year 12.
Paper 1: Introduction to markets and market failure (50% of AS Level)
Paper 2: The UK economy – performance and policies (50% of AS Level)
A Level assessment consists of three externally assessed examination papers sat in May/June in Year 13.
Paper 1: Markets and Business Behaviour (35% of A Level)
Paper 2: The National and Global Economy (35% of A Level)
Paper 3: Microeconomics and Macroeconomics (30% of A Level)
The exams use a variety of assessment methods including multiple choice questions, short answer questions, data-response and essay questions.
Grade C in both GCSE English and GCSE Mathematics
No previous knowledge of the subject is required but students should have a general interest in current affairs, relevant business and economics news items and government policies. An ability to learn key economics terms and apply theories to different real life economic scenarios will be developed over the course. Students must also be able to construct, explain and provide a critical understanding of a variety of diagrams.
Classroom teaching methods are supplemented where possible with visits from outside speakers and attendance at conferences and seminars. There are opportunities to enter competitions like the Bank of England’s Two Point Zero challenge as well as trips where appropriate at home and abroad.
Economics combines well with Business Studies, Politics, Geography, Sociology, Psychology, History and Languages as these complement some of the issues covered in the Economics syllabus. Mathematics is also highly recommended especially if Economics is to be studied at degree level.
In Higher Education, Economics is very attractive to Mathematics students and can be found in a wide variety of combination courses. It can be a compulsory element in many degree courses such as Law, Geography, Business Studies, Accounting, Politics and History.
How to apply
If you want to apply for this course, you will need to contact Clitheroe Royal Grammar School directly.